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    A Study of Impact of Enterprise ESG Performance on Financing Constraints—Based on Signal Asymmetry and Principal-Agent Perspective
    ZHANG Yalian, SU Changping
    Finance & Economics of Xinjiang    2023, 0 (2): 48-57.   DOI: 10.16716/j.cnki.65-1030/f.2023.02.005
    Abstract746)   HTML29)    PDF(pc) (871KB)(1035)       Save

    Based on the sample of listed companies in Shanghai and Shenzhen A-shares from 2015 to 2020, this paper empirically tests the mitigation effect, mechanism and path of ESG performance on corporate financing constraints. The results show that good corporate ESG performance can help enterprises get out of the financing constraint dilemma, and the effect of corporate ESG performance to alleviate the financing constraint is more obvious in small and medium-sized enterprises. From the perspective of the mechanism of enterprise ESG performance affecting enterprise financing constraints, enterprise ESG performance can not only play a signal effect and help enterprises gain more analysts' attention, but also give full play to the governance effect of enterprise ESG performance and effectively alleviate the agency conflict of enterprises. From the perspective of the impact path of corporate ESG performance to alleviate corporate financing constraints, corporate ESG performance can help enterprises obtain lower cost debt financing and equity financing. This study has implications for promoting enterprises' ESG information disclosure and improving the efficiency of resource allocation.

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    A Study of the Path of Digital Economy Promoting the Digital Transformation of Xinjiang's Foreign Trade
    DUAN Xiufang, ZHOU Dufeng
    Finance & Economics of Xinjiang    2023, 0 (3): 69-80.   DOI: 10.16716/j.cnki.65-1030/f.2023.03.007
    Abstract443)   HTML8)    PDF(pc) (821KB)(415)       Save

    Since the report of the 19th National Congress of the Communist Party of China proposed the construction of a digital China, China's digital economy has developed rapidly and gradually become an important support for achieving the digital development of China's foreign trade. The report of the 20th National Congress of the Communist Party of China further proposes to "accelerate the development of the digital economy" and "promote digital trade to accelerate China's transformation into a trader of quality". In this context, it is of great practical significance to study how the digital economy supports the digital transformation of Xinjiang's foreign trade. From the perspective of mechanism, the digital economy promotes the digital development of Xinjiang's foreign trade through three aspects: promoting digital industrialization and industrial digitization, bringing digital elements for improving quality and efficiency, and improving the innovation ability of enterprises. At present, Xinjiang's digital trade service platform has been initially established, and the digital transformation of foreign trade has a preliminary industrial foundation. However, restricted by such factors as small scale of digital economy, low proportion of digital economy, low integration of digital industry and traditional industry, insufficient use of digital elements, and insufficient digital technology innovation capability, Xinjiang's foreign trade digital transformation is faced with such problems as low driving force of digital economy. Therefore, this paper proposes paths such as improving digital infrastructure, cultivating and guiding digital industries, improving the level of industry digitization, building a digital factor market, enhancing digital innovation capabilities and talent cultivation, and effectively promoting the digital development of Xinjiang's foreign trade.

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    The Mechanism and Empirical Test of Digital Inclusive Finance Promoting Green Total Factor Productivity
    LIU Rongzeng, LI Zien, HE Chun
    Finance & Economics of Xinjiang    2023, 0 (1): 5-16.   DOI: 10.16716/j.cnki.65-1030/f.2023.01.001
    Abstract405)   HTML556)    PDF(pc) (1587KB)(555)       Save

    With the promotion of digital China construction, digital inclusive finance plays an important role in implementing the new development concept and promoting the improvement of green total factor productivity. This paper uses the economic and social data of 30 provinces, municipalities and autonomous regions in China from 2011 to 2020 to study the impact of digital inclusive finance on green total factor productivity using fixed effect model and intermediary effect model. The results show that digital inclusive finance effectively promotes the promotion of green total factor productivity, and this promotion is more obvious in the eastern and western regions. Digital inclusive finance has significant intermediary effect in promoting green total factor productivity, that is, digital inclusive finance improves green total factor productivity through three channels: technological progress, industrial structure upgrading, and technological progress-industrial structure upgrading. In this regard, we should promote the development of digital inclusive finance by improving the regional basic hardware equipment and popularizing the concept of digital inclusive finance, and training professional financial talents, so as to improve total factor productivity.

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    A Study of Coupling and Coordinated Development of Tourism Industry, Regional Economy and Ecological Environment in Five Provinces of Northwest China
    LI Xiaohu, YANG Wenjing, WANG Liming
    Finance & Economics of Xinjiang    2022, 0 (4): 38-47.   DOI: 10.16716/j.cnki.65-1030/f.2022.04.004
    Abstract366)   HTML21)    PDF(pc) (3271KB)(367)       Save

    Based on the concept of high quality development, this paper constructs the evaluation index system of tourism industry,regional economy and ecological environment. Taking five provinces and regions in northwest China as an example, the comprehensive development index of each region and system from 2010 to 2019 was synthesized to evaluate its coupling coordination degree. The conclusions are as follows: during the study period, the tourism industry grew significantly, with the index value of up to 0.87 in 2019; the comprehensive development level of regional economy is relatively low, and the average value of the index fluctuates within 0.44 to 0.54. The overall development trend of ecological environment in all five provinces and regions is consistent. The coupling coordination degree of the three systems was nearly out of balance in 2010 to good coordination in 2019 with the index rose from 0.47 to 0.83. The scissors difference analysis shows that the evolution rate gap between the two systems is gradually narrowing, and there is a trend of coordinated evolution. In view of this, it is of great necessity for these five provinces and autonomous regions to take their advantages of location and policy to promote economic development and infrastructure construction based on the concept of coordinated development of regional integration, strengthen ecological protection and environmental supervision and governance, and create a friendly development featuring regional mutual assistance, symbiosis and mutual benefit.

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    The Fourth Distribution: A Path Study of Chinese Path to Modernization and Common Prosperity
    LEI Ming
    Finance & Economics of Xinjiang    2023, 0 (1): 17-25.   DOI: 10.16716/j.cnki.65-1030/f.2023.01.002
    Abstract357)   HTML350)    PDF(pc) (1410KB)(290)       Save

    The report of the 20th National Congress of the Communist Party of China pointed out that Chinese path to modernization is the modernization of common prosperity for all people. We should improve the distribution system, adhere to the principle of distribution according to work and the coexistence of multiple distribution methods, realize, safeguard and develop the fundamental interests of the overwhelming majority of the people, and firmly promote common prosperity. Based on the theories of income distribution, this paper puts forward the concept of the fourth income distribution, and explores the path to achieve Chinese path to modernization and common prosperity through income distribution based on the primary distribution, supplemented by redistribution, and encouraged the development of the third and fourth distribution. The fourth distribution based on China's poverty alleviation practice is effective supplements to the third distribution. Improving income distribution is of great significance to consolidating the achievements of poverty alleviation and promoting common prosperity.Keywords: the fourth distribution; Chinese path to modernization; common prosperity; distribution system

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    The Impact of Multi-Dimensional Institutional Differences on China's OFDI—Based on the Data of 34 Countries Along "the Belt and Road"
    HU Ying, GAO Yali
    Finance & Economics of Xinjiang    2022, 0 (4): 57-68.   DOI: 10.16716/j.cnki.65-1030/f.2022.04.006
    Abstract284)   HTML15)    PDF(pc) (866KB)(312)       Save

    China's economic development has entered the stage of capital export from commodity export. However, in the process of continuous export of China's OFDI, the institutional environment of the host country has gradually become one of the important factors affecting China's OFDI, and the institutional difference between China and the host country will also have an important impact on China's capital export. Based on sample data of China's OFDI to 34 countries along the Belt and Road from 2006 to 2019, the investment gravity model is constructed and the fixed effect regression method is used to empirically analyze the impact of economic, political and legal institutional differences on China's direct investment in countries along the Belt and Road. The results show that the legal institutional difference has the greatest negative effect on China's direct investment in the countries along the Belt and Road, the negative influence of political and economic system difference decreased successively. China's direct investment in different types of countries along the Belt and Road is also significantly heterogeneous due to institutional differences. For countries along the Belt and Road with different economic systems and levels of economic development, differences in legal institution have the greatest impact on China's OFDI. Moreover, the restraining effect on China's direct investment in transition countries and high-income countries along the Belt and Road is significantly greater than that on non-transition countries and low and middle income countries. From the perspective of countries with different levels of resource abundance, legal institutional difference has no significant impact on China's direct investment in resource-rich countries along the Belt and Road. However, it has a significant negative impact on the direct investment of resource-deficient countries along the Belt and Road.

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    Does Delisting Reform Reduce the Risk of Adding the "*ST" Mark to Stocks of Enterprises Again After They Removing It?
    YU Bo, LIN Longbin
    Finance & Economics of Xinjiang    2022, 0 (5): 24-37.   DOI: 10.16716/j.cnki.65-1030/f.2022.05.005
    Abstract274)   HTML523)    PDF(pc) (1275KB)(102)       Save

    Will the risk of adding the "*ST" mark to stocks of enterprises again after they removing it be significantly weakened with the continuous improvement of the delisting system reform? It is crucial to investigate this theory to evaluate the effectiveness of delisting system reform. With intention of evaluating the effectiveness of the delisting system reform, this paper tests the risk of adding the "*ST" mark to stocks of enterprises again after they removing it and the dynamic change of risk with the delisting reform by means of the survival model. The results show that: (1) Although from the perspective of annual evolution, the risk of adding the "*ST" mark to stocks of enterprises again after they removing it has shown a certain growth trend, with the continuous promotion of the delisting reform, such risk has significantly decreased, which means that the stability of performance of decapitated enterprises has significantly improved; (2) in terms of heterogeneity, the longer an enterprise has experienced the special treatment, the lower its risk of adding the "*ST" mark to its stock again, and enterprises with regulatory inquiry experience has lower likelihood of adding the "*ST" mark to their stocks again; (3) as the delisting reform has tightened the conditions for removing special treatment, the influence of special treatment processing time and regulatory inquiry on the risk of adding the "*ST" mark to stocks of enterprises again has weakened, and the reform has a certain substitute significance for risk improvement; (4) it is further proved from the perspective of financial violation that the financial violation punishment experience of enterprises after removing the "*ST" mark will increase the risk of adding the "*ST" mark to their stocks again but with the promotion of delisting reform, such risk is gradually reducing, which means that the reform plays a positive role in mitigating the performance risk under the impact of punishment.

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    Research Progress and Prospect of Internet Financial Risk in China
    NING Zekui, WANG Zhe, QU Qiao
    Finance & Economics of Xinjiang    2022, 0 (6): 23-32.   DOI: 10.16716/j.cnki.65-1030/f.2022.06.005
    Abstract259)   HTML4)    PDF(pc) (5447KB)(121)       Save

    This paper uses Bibliometrics, induction and deduction methods to sort out and summarize the main progress and hot topics of Chinese internet finance risk research in the past 22 years, and looks into the future research trends, aiming to promote the sustainable and high-quality development of Chinese internet finance. The results show that, firstly, in the past 22 years, the research on Internet financial risks in China is affected by network information technology, financial market environment and economic policy orientation, and can be divided into three stages: initial stage, development stage and deepening stage. Secondly, the research content mainly focuses on the types and characteristics, measurement and evaluation, causes and manifestations, prevention mechanism and supervision path of Internet financial risks. Thirdly, the research methods have been upgraded from qualitative to quantitative, and the research perspective has changed from macro market to micro consumers. Moreover, the research perspective and dimension are relatively single, which is in urgent need of diversification. In the future, research on internet financial risks should be strengthened in the areas of multi-method and multi-discipline integration, multi-dimensional difference and joint research, we will make more efforts to the development of regulatory technology and the construction of a multi-dimensional measurement index system, and coupling between internet financial risks and green financial challenges to promote a sustainable high-quality development of internet finance in China.

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    Research on the Influence of Local Government Debt on Industrial Structure Optimization —Empirical Analysis Based on the New Development Pattern of "Double Circulation"
    LI Cheng, SHEN Lin
    Finance & Economics of Xinjiang    2022, 0 (4): 29-37.   DOI: 10.16716/j.cnki.65-1030/f.2022.04.003
    Abstract251)   HTML16)    PDF(pc) (832KB)(433)       Save

    Based on the panel data of 31 provinces, autonomous regions and municipalities in mainland China from 2015 to 2019, this paper explores the impact of local government debt on industrial structure optimization with the background of "dual circulation" and the relevant factors of "dual circulation" as intermediary variables. The research finds that under the background of "dual circulation", local government debt has a restraining effect on the rationalization of industrial structure and a promoting effect on the upgrading of industrial structure. From the aspect of industrial structure rationalization, the variables of internal circulation level such as resident consumption structure, fixed asset investment rate, real interest rate, technology level and urbanization rate have a significant intermediary effect on the impact of local government debt on industrial structure rationalization, while the variables of external circulation level such as foreign trade level and foreign direct investment level have no significant intermediary effect on the impact of local government debt on industrial structure rationalization; From the aspect of industrial structure elevation, the internal circulation level variables, such as technology level, real interest rate, urbanization rate, and the external circulation level variables, foreign direct investment level, have a significant intermediary effect on the impact of local government debt on industrial structure elevation. In the future, it is of necessity to plan the expenditure direction of local government debt more scientifically, and better promote the optimization and upgrading of industrial structure by promoting the rational allocation of domestic and international market resources, promoting technological progress, and improving the level of urbanization.

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    The Influence of Employee Attachment Style on Silent Behavior —Based on Psychological Security and the Role of Caring Subordinate Leadership Behavior
    SHI Qing, GUO Yingying, ZHANG Hongwei, HOU Dongsheng
    Finance & Economics of Xinjiang    2022, 0 (4): 48-56.   DOI: 10.16716/j.cnki.65-1030/f.2022.04.005
    Abstract250)   HTML11)    PDF(pc) (1014KB)(474)       Save

    Based on attachment theory, evolutionary psychology theory and social information processing theory, this paper constructed a research model of the relationship between employee attachment style and employee silent behavior. A questionnaire survey was conducted to examine the relationship between employee attachment style and silent behavior, the mediating role of psychological security and the moderating role of subordinates' caring behavior. The results show that employee attachment style has a positive relationship with employee silent behavior. Employee attachment anxiety and employee attachment avoidance had significant positive relationship with employee silent behavior, and psychological security played a partial mediating role. The behavior of caring for subordinate leaders negatively moderates the relationship between employees' psychological security and their silent behaviors, that is, the higher the quality of caring for subordinate leaders, the weaker the negative correlation between employees' psychological security and their silent behaviors.

    Conclusion

    The research reveals the mechanism and boundary conditions of employee attachment style on employee silence, enriches the related theoretical research results, and provides practical and theoretical guidance for enterprises to effectively reduce employee silence.

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    An Analysis of Green Economic Efficiency Measurement and Influencing Factors in Resource-Based Areas —Take Xinjiang as an Example
    GAO Zhigang, TIAN Feng
    Finance & Economics of Xinjiang    2022, 0 (4): 5-18.   DOI: 10.16716/j.cnki.65-1030/f.2022.04.001
    Abstract234)   HTML582)    PDF(pc) (1662KB)(418)       Save

    Green development is one important goal to achieve high-quality development in resource-based regions. A study of on the efficiency of green economy and its influencing factors under the spatial characteristics is of great practical significance to the interpretation of the spatial effect of green economy development in resource-based areas. Taking Xinjiang as an example, this paper uses the panel data of 14 prefectures and cities in Xinjiang from 2000 to 2017 to measure the green economic efficiency of Xinjiang. Based on the measurement results and the spatial correlation test, this paper further establishes a spatial econometric model to analyze the influencing factors and spatial spillover effects of the green economic efficiency in Xinjiang, and puts forward countermeasures and suggestions. The conclusions are as follows: there is a U-shaped relationship between economic development level and green economic efficiency in Xinjiang, the industrial structure and economic openness have significant negative impact on the improvement of local green economic efficiency, and a significant negative spatial spillover effect on the neighboring areas, urbanization level and labor productivity have significant positive effects on the improvement of local green economic efficiency and have significant positive spillover effects on the neighboring areas, independent innovation ability has insignificant positive effect on the improvement of local green economy efficiency and has significant positive spillover effects on the neighboring areas, education level has insignificant negative impact on the improvement of local green economy efficiency and has insignificant positive spillover effect on the neighboring areas. Therefore, it is of necessity to improve the economic policy system, optimize the industrial structure, and make the economy open wider to the outside world, the independent innovation ability more capable, and education level higher to improve the efficiency of green economy.

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    Tax Collection and Management, Tax Preference and Enterprise Financial Distress Risk
    LI Guanglong, XIAO Jigang
    Finance & Economics of Xinjiang    2022, 0 (5): 47-56.   DOI: 10.16716/j.cnki.65-1030/f.2022.05.007
    Abstract225)   HTML45)    PDF(pc) (1199KB)(76)       Save

    In order to study the influence of strengthening tax enforcement on enterprise financial distress, this paper takes the data of A-share listed companies in Shanghai and Shenzhen from 2009 to 2018 as samples and makes an empirical analysis by using difference-in-differences (DID) model, with the implementation of "Golden Tax phase III" as the standard natural experiment. The results show that strengthening tax enforcement enhances the risk of financial distress of enterprises. The influence mechanism shows that strengthening tax enforcement has two different effects. One is to reduce the risk of financial distress by restraining excessive investment and reducing agency cost to exert governance effect. The other is to increase the risk of financial distress by increasing corporate tax burden and reducing corporate performance to produce cost effect. However, on the whole, the cost effect formed by tax enforcement has a greater impact on enterprises, and ultimately leads to the increase of the risk of financial distress of enterprises. Therefore, while deepening tax collection and management system reform, China should also vigorously implement tax reduction measures to promote the healthy and sustainable development of enterprises.

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    Finance & Economics of Xinjiang    2022, 0 (5): 5-8.   DOI: 10.16716/j.cnki.65-1030/f.2022.05.001
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    Spatial Differentiation of Carbon Emissions from Construction Industry and Decomposition Effects in National-Level Urban Agglomerations
    YU Yaguai, SHEN Panyi, LI Yuting
    Finance & Economics of Xinjiang    2022, 0 (4): 19-28.   DOI: 10.16716/j.cnki.65-1030/f.2022.04.002
    Abstract224)   HTML19)    PDF(pc) (862KB)(219)       Save

    Based on the panel data from 2009 to 2019, this paper used the carbon emission coefficient method to calculate the total carbon emissions of the four national-level urban agglomerations and the carbon emissions of fossil energy, secondary energy and building materials. The results show that there are significant spatial differences in the total carbon emissions of the four national urban agglomerations. The peak value of the Yangtze River Delta urban agglomeration was 967 million tons in 2011, and that of the Guanzhong Plain urban agglomeration was 88 million tons in 2019. Based on the calculation results of energy carbon emissions, the LMDI model was further used to decompose the influencing factors into five major effects, including carbon emission coefficient, energy intensity, energy structure, economic level of construction industry and population size. It is found that the carbon emission coefficient has the least effect on the carbon emission of energy, the economic level of construction industry plays a promoting role, and the energy structure plays a restraining role. In the future, it is of significance to promote the use of new building materials, optimize the energy structure of the construction industry and promote low-carbon and energy-saving technology in the construction industry to promote carbon reduction.

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    An Exploration on the Optimization Path of Budget Performance Management in the New Era —Qualitative Comparative Analysis Based on Fuzzy Sets
    JIA Yanan, ZHANG Wenbo
    Finance & Economics of Xinjiang    2022, 0 (5): 38-46.   DOI: 10.16716/j.cnki.65-1030/f.2022.05.006
    Abstract224)   HTML41)    PDF(pc) (864KB)(371)       Save

    Budget performance management is a performance management based on budget, which is an important part of government performance management. Taking 31 provincial local governments in China in 2018 as research cases, this paper uses the fuzzy set qualitative comparative analysis (fs/QCA) method to analyze the relevant indicators that affect the reform of budget performance management, and reveals how different factors combine to influence the reform of local government budget performance management. The research finds that economic development, fiscal decentralization, fiscal transparency and organizational redundancy are the main factors affecting the reform of local government budget performance management. Effective promotion of budget performance management requires multiple factors to work together. In the future, local governments should be more active in developing the economy externally and attracting talent inflows. They should further improve financial transparency, eliminate organizational redundancy and reduce administrative costs internally, so as to effectively promote budget performance management.

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    Measurement of High-Quality Economic Development Level in Western Urban Agglomerations and an Analysis of Its Influencing
    GAO Zhigang, ZHAO Zhenjing, HAN Yanling
    Finance & Economics of Xinjiang    2023, 0 (3): 5-16.   DOI: 10.16716/j.cnki.65-1030/f.2023.03.001
    Abstract209)   HTML776)    PDF(pc) (914KB)(88)       Save

    Urban agglomerations are the main spatial carriers of China's economic development. Accelerating high-quality economic development in western urban agglomerations is of great significance for narrowing the development gap between the east and west of China and achieving regional coordinated development. The paper takes 9 urban agglomerations in the western region as the research object, constructs an evaluation index system for the high-quality economic development level of western urban agglomerations in China, and measures it. At the same time, based on five dimensions of economy, society, system, population, and environment, it identifies the main driving factors that affect the high-quality economic development of western urban agglomerations. The results indicate that the overall high-quality economic development level of the western urban agglomeration is showing a slow growth trend; There is a significant difference in the high-quality development level of subsystems, with a significant gap between the coordinated development level and the green development level, and the smallest gap in the open development level; The improvement of investment level, consumption level, transportation level, wage income level, and environmental governance level can significantly promote the high-quality development of the western urban agglomeration economy. The degree of government intervention and population agglomeration have suppressed the high-quality development of the western urban agglomeration economy, and various influencing factors are heterogeneous. Based on this, the western urban agglomeration should further fully, accurately, and comprehensively implement the new development concept, and enhance the high-quality economic development level of the urban agglomeration; Adhere to problem oriented approach and accelerate the filling of shortcomings in urban agglomeration development; Optimize resource allocation and promote the integrated development of urban agglomerations.

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    Contagion Effect of Financial Risks Between China and Countries Along "the Belt and Road" —An Empirical Analysis Based on the Perspective of Financial Market Linkage
    ZHANG Shuai
    Finance & Economics of Xinjiang    2022, 0 (5): 70-80.   DOI: 10.16716/j.cnki.65-1030/f.2022.05.009
    Abstract207)   HTML50)    PDF(pc) (984KB)(287)       Save

    The increasing development of financial liberalization has led to the increasing linkage between international financial markets, thus laying the foundation for the international contagion of financial risks. The paper selects countries with high market relevance with China as sample countries for risk contagion from three levels of international trade, investment market and financial market, constructs financial risk indexes of China and countries along "the Belt and Road", and analyzes the contagion characteristics of financial risks between China and countries along "the Belt and Road" using BARX model. The research finds that: (1) China has financial risk contagion effect on Central Asia, West Asia and Central and Eastern Europe, while West Asia, South Asia, CIS and Southeast Asia have financial risk contagion effect on China as a whole; (2) Central Asia and Central and Eastern Europe are the main regions of China's net export of foreign financial risks, while other regions show a net import of China's financial risks; (3) There is a certain difference between the direction of transmission of financial risks to China by some countries in different regions and that of the region as a whole. In the future, we should focus on building a financial governance coordination mechanism and a financial risk contagion coordination and disposal mechanism for countries along "the Belt and Road" and strengthen information sharing with countries along "the Belt and Road" at the level of financial risk supervision, so as to effectively prevent financial risk contagion.

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    Finance & Economics of Xinjiang    2022, 0 (5): 17-23.   DOI: 10.16716/j.cnki.65-1030/f.2022.05.004
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    Has the Joint Construction of "the Belt and Road" Promoted the Upgrading of China's Marine Industrial Structure? —An Empirical Study Based on Quasi-Natural Experiments
    YANG Xinhua, LI Qicheng, LI Qi
    Finance & Economics of Xinjiang    2022, 0 (4): 69-80.   DOI: 10.16716/j.cnki.65-1030/f.2022.04.007
    Abstract199)   HTML10)    PDF(pc) (941KB)(225)       Save

    Jointly building the Belt and Road has created new opportunities for the high-quality development of the marine economy and created new driving forces for the optimization and upgrading of the marine industry structure. Based on the panel data of 11 coastal provinces and cities in China from 2007 to 2018, this paper empirically tested the effect and mechanism of the Belt and Road Initiative on the upgrading of Marine industrial structure by using panel fixed model, DID model, propensity score matching + DID model and mediating effect model. The findings are as follows: (1) jointly building the Belt and Road can significantly promote the upgrading of marine industrial structure; (2) jointly building the Belt and Road has a significant mediating effect on the optimization and upgrading of domestic Marine industry structure by encouraging foreign direct investment and improving the level of scientific and technological innovation; (3) the effect of jointly building the Belt and Road Initiative on the upgrading of Marine industrial structure is heterogeneous. Provinces and cities with relatively developed Marine economy have a stronger impact than those with a lower level of Marine economy. In order to better promote the optimization and upgrading of the marine industry structure, it is of great necessity to continue to rely on jointly building the Belt and Road to deepen the reform and opening up, to strengthen inter-governmental exchanges and cooperation, to remove investment barriers, to focus on developing marine science and technology to improve the market conversion rate of technology.

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    The Impact of High Speed Rail on the High-quality Development of Cities in Ethnic Minority Areas in China—An Empirical Study of Prefecture-Level Cities in Eight Ethnic Provinces in China
    LIU Yuping, HU Qiongfang
    Finance & Economics of Xinjiang    2023, 0 (2): 12-25.   DOI: 10.16716/j.cnki.65-1030/f.2023.02.002
    Abstract172)   HTML913)    PDF(pc) (1231KB)(286)       Save

    From the perspective of improving input-output efficiency, this paper builds a theoretical framework for the impact of high-speed rail on the high-quality development of cities in ethnic minority areas. Based on the high-speed rail operation and economic and social development data of prefecture-level cities in eight ethnic provinces from 2006 to 2017, this paper empirically tests the overall impact of high-speed rail on the high-quality development of cities in ethnic minority areas and its sources, and investigates the possible impact mechanism. The results show that from the perspective of the overall impact and its sources, high-speed rail has a positive impact on the high-quality development of cities in minority areas, and the impact is mainly due to the promotion of technological innovation and economies of scale; from the perspective of heterogeneity and dynamics, the impact of high-speed rail on high-quality urban development in ethnic areas varies with the basis of urban development, and the positive effect has a time lag of about three years. From the perspective of influence mechanism, high-speed rail will exert different influences on the high-quality development of cities in ethnic minority areas through three mechanisms: investment promotion of fixed asset investment, industrial driving of tourism industry development and output driving of green development. In the future, it is necessary to further strengthen the construction of high-speed railway in ethnic minority areas, make up for the deficiencies of funds and factors of high-speed railway cities in a targeted way, and adopt differentiated development incentive policies for different cities, so as to promote the high-quality development of cities in ethnic minority areas by taking advantage of high-speed railway.

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