Research

17 pages, 301 KiB

Open AccessArticle

How Does Public Capital Affect Enterprise Technological Innovation Based on Empirical Evidence from Chinese Listed Companies

by Shanshan Liu, Feng Deng and Baosheng Yuan

Sustainability 2023, 15(10), 7868; https://doi.org/10.3390/su15107868 - 11 May 2023

Viewed by 1010

Abstract

Public capital is an important force for promoting industrial agglomeration and enterprise technological innovation, and enterprise technological innovation is the core element in promoting green economic growth. To further reveal the influence mechanism of public capital on enterprise technological innovation, based on the [...] Read more.

Public capital is an important force for promoting industrial agglomeration and enterprise technological innovation, and enterprise technological innovation is the core element in promoting green economic growth. To further reveal the influence mechanism of public capital on enterprise technological innovation, based on the data of A-share listed companies in China from 2007 to 2020, this paper uses the nonlinear moderating effect model and the intermediating effect model to verify the nonlinear influence and transmission mechanism of public capital on enterprise technological innovation. This paper discusses the influence and mechanism of public capital on enterprise innovation from the perspective of industrial agglomeration. The study finds that public capital has a significant role in promoting enterprise technological innovation. Moreover, economic public capital plays a greater role in promoting enterprise technological innovation than social public capital. Further analysis shows that the innovation effect of public capital is nonlinearly regulated by industrial agglomeration. In the initial stage of industrial agglomeration, the higher the degree of industrial agglomeration, the weaker the innovation effect of public capital; however, in the advanced stage of industrial agglomeration, the higher the degree of industrial agglomeration, the stronger the innovation effect of public capital. The nonlinear effect is realized by affecting the profits of enterprises. From enterprise heterogeneity, public capital has a significant role in promoting the technological innovation of non-state-owned enterprises but has no significant impact on the technological innovation of state-owned enterprises; public capital has a significant positive effect on the technological innovation of mid- and high-end technology enterprises, while its impact on the technological innovation of low-end technology enterprises is not significant. From the type of innovation output, public capital has a significant role in promoting enterprise green technology innovation, and the role of public capital in promoting enterprise green invention patents is greater than that of green utility model patents. This study provides a theoretical basis for government public capital investment decisions and empirical evidence for the sustainable development of enterprise technological innovation. Full article

(This article belongs to the Special Issue Collaborative Economy: Policy and Regional Economic Development)

13 pages, 422 KiB

Open AccessArticle

High-Quality Regional Economic Development Paths in China—QCA-Based Linkage Effect

by Zhongxian Duan, Mengjuan Li and Peng Wu

Sustainability 2023, 15(7), 6325; https://doi.org/10.3390/su15076325 - 06 Apr 2023

Cited by 1 | Viewed by 1584

Abstract

High-quality economic development is an organic whole, involving macro, meso, and micro factors, therefore it is necessary to explore the mechanism for quality development in the construction of a modern economic system. Following the new development concept, this paper constructs a measurement system [...] Read more.

High-quality economic development is an organic whole, involving macro, meso, and micro factors, therefore it is necessary to explore the mechanism for quality development in the construction of a modern economic system. Following the new development concept, this paper constructs a measurement system for the economic development quality of 30 provinces and cities in China by using the entropy weight and TOPSIS method. In addition, the linkage effects of factors on high-quality economic development were analyzed by using the fuzzy qualitative comparative analysis (fsQCA) method. The results show that among factors contributing to diversified forms of the high-quality regional economy, the following three stand out: scientific and technological innovation, marketization, and infrastructure construction. On this basis, three paths were proposed for quality economic development, and they are: the innovation- and market-driven mode, the synergy mode of market and innovation, and the market-led conversion mode. Full article

(This article belongs to the Special Issue Collaborative Economy: Policy and Regional Economic Development)

13 pages, 256 KiB

Open AccessArticle

The Impact of Outward Foreign Direct Investment on Product Quality and Export: Evidence from China

by Zhoufu Yan, Shuntian Sui, Fangwei Wu and Li Cao

Sustainability 2023, 15(5), 4227; https://doi.org/10.3390/su15054227 - 26 Feb 2023

Cited by 1 | Viewed by 1814

Abstract

While China’s outward foreign direct investment (OFDI) is growing rapidly, few studies have considered the impact of this growth on product quality. This study uses microdata at the enterprise level to investigate the effects of OFDI on product quality and export trade, from [...] Read more.

While China’s outward foreign direct investment (OFDI) is growing rapidly, few studies have considered the impact of this growth on product quality. This study uses microdata at the enterprise level to investigate the effects of OFDI on product quality and export trade, from the perspective of enterprise heterogeneity. The results denote that (1) OFDI improves product quality, which is caused by the direct promotional effect of OFDI and the productivity effect brought by OFDI. (2) As OFDI of low productivity enterprises creates a productivity effect and leads to a promotional effect on product quality enhancement, the magnitude is significantly higher than that of high productivity enterprises. (3) Product quality enhancement significantly increases the promotional effect on exports induced by OFDI of low productivity enterprises, while simultaneously significantly suppressing the promotional effect on exports induced by OFDI of high productivity enterprises. (4) The promotional effect of OFDI on exports decreases as productivity increases, and OFDI significantly promotes exports of low productivity enterprises and has no significant effect on high productivity enterprises. These results suggest that China should continue to expand the space for international cooperation and encourage enterprises to invest overseas, especially those facing export pressures. Full article

(This article belongs to the Special Issue Collaborative Economy: Policy and Regional Economic Development)

16 pages, 762 KiB

Open AccessArticle

Spatial Spillover Effects of Internet Development on Foreign Trade in China

by Woraphon Yamaka, Rui Shi, Paravee Maneejuk and Chihyi Chi

Sustainability 2023, 15(5), 4213; https://doi.org/10.3390/su15054213 - 26 Feb 2023

Cited by 2 | Viewed by 1094

Abstract

This study analyzes the spatial spillover effects of internet development on China’s foreign trade using panel data of 31 provinces in China covering 2003–2016. First, the global Moran’s I is employed to check for spatial autocorrelation in internet development. The results demonstrate a [...] Read more.

This study analyzes the spatial spillover effects of internet development on China’s foreign trade using panel data of 31 provinces in China covering 2003–2016. First, the global Moran’s I is employed to check for spatial autocorrelation in internet development. The results demonstrate a positive correlation between the internet development of the local province and the neighboring provinces during the sample period. Then, we validate the accuracy and performance of the spatial Durbin model by comparing it with two other spatial models: spatial error and spatial autoregression. The Wald and Likelihood Ratio tests confirmed the superiority of the SDM model. According to the direct and indirect effects results obtained from SDM, internet development plays an essential role in promoting local foreign trade and generates a positive spatial spillover effect on the foreign trade of neighboring provinces. The key findings suggest that China should continuously strengthen its internet infrastructure and expand its internet popularity, especially in the tertiary sector, to enhance the advantage of the internet on international trade development. Full article

(This article belongs to the Special Issue Collaborative Economy: Policy and Regional Economic Development)

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19 pages, 590 KiB

Open AccessArticle

The Effect of Exports and Two-Way Foreign Direct Investment between China and Pan-East Asian Countries

by Jingyuan Hou, Zhonghai Cheng and Xinshu Gong

Sustainability 2022, 14(24), 16975; https://doi.org/10.3390/su142416975 - 18 Dec 2022

Cited by 2 | Viewed by 1447

Abstract

Rising protectionism and globalization have led to new interest in new regionalism. The facilitation and liberalization of two-way direct investment between China and Pan-East Asian countries result in increasing exports between these countries. By studying the relationship between China’s investment and export trade [...] Read more.

Rising protectionism and globalization have led to new interest in new regionalism. The facilitation and liberalization of two-way direct investment between China and Pan-East Asian countries result in increasing exports between these countries. By studying the relationship between China’s investment and export trade in Northeast Asian and Southeast Asian countries, this paper explores the influence mechanism of China’s two-way foreign direct investment and export trade with Pan-East Asian countries. The study discovers that with the improvement of the bilateral economic development level, China’s Outward Foreign Direct Investment (OFDI) to Northeast Asia and Southeast Asian countries will significantly increase the scale of China’s export trade. Yet, the total value of the export creation effect decreases over time. China’s utilization of Inward Foreign Direct Investment (IFDI) has a significant inhibitory effect on export trade. The two-way interaction effect of China’s OFDI and IFDI is weak. As the level of IFDI in China increases, the effect of OFDI on exports increases—though this effect differs across regions and countries. Full article

(This article belongs to the Special Issue Collaborative Economy: Policy and Regional Economic Development)

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20 pages, 343 KiB

Open AccessArticle

Does the Host Country’s Foreign Direct Investment (FDI) Restrictiveness Inhibit the Export Sophistication of the Home Country? Evidence from China’s Manufacturing Data

by Jiazhen Ren, Apurbo Sarkar, Hong Li and Xiaojing Li

Sustainability 2022, 14(22), 15218; https://doi.org/10.3390/su142215218 - 16 Nov 2022

Cited by 2 | Viewed by 1472

Abstract

Since the going-global approach of Chinese enterprises has accelerated, the host country’s foreign direct investments (FDI) restrictiveness index has dramatically influenced the upgrading of China’s trade structure. This study investigates the relationship between the host country’s FDI restrictiveness index and the export sophistication [...] Read more.

Since the going-global approach of Chinese enterprises has accelerated, the host country’s foreign direct investments (FDI) restrictiveness index has dramatically influenced the upgrading of China’s trade structure. This study investigates the relationship between the host country’s FDI restrictiveness index and the export sophistication of the home country. Using two-way fixed-impact models and firm-based microcosmic data, it verifies the impacts of reverse technology spillover (RTS) by the intermediary model. The empirical outcomes illustrate that the host country’s FDI restrictiveness index significantly inhibits the export sophistication of the home country. In particular, overseas equity restrictions, selection and endorsement requirements, and additional operational limitations hold more substantial influence. However, the limits on key foreign experts have promoted the export sophistication of the home country. Seemingly, host countries’ FDI restrictiveness has inhibited export sophistication in the textile industry and the processing of the resource industry but promoted the same in the mechanical and electronic industries. Likewise, the host country’s FDI restrictiveness impacts the export sophistication of the home nation through resource allocation. Manufacturing enterprises increased export sophistication by guiding resource allocation, and export trade models were changed from the previous quantitative competition to quality competition. Full article

(This article belongs to the Special Issue Collaborative Economy: Policy and Regional Economic Development)

18 pages, 565 KiB

Open AccessArticle

Why Do Regions Differ in Growth? The Productivity of the Eurozone and Its Contribution to the Added Value of Its European Neighbors

by Antonio Mihi-Ramirez, Elias Melchor-Ferrer and Yolanda Garcia-Rodriguez

Sustainability 2022, 14(18), 11215; https://doi.org/10.3390/su141811215 - 07 Sep 2022

Cited by 2 | Viewed by 1084

Abstract

Despite the fact that the European integration process has intensified cooperation among European partners, the significant impact on growth represented by the recent lengthy periods of productivity stagnation in European countries still remains unexplained, as are the growing disparities among the more advanced [...] Read more.

Despite the fact that the European integration process has intensified cooperation among European partners, the significant impact on growth represented by the recent lengthy periods of productivity stagnation in European countries still remains unexplained, as are the growing disparities among the more advanced countries of the integrated economy. This paper focuses on long-term economic growth based on productivity and its components, as well as on the effects of integration of EMU and non-EMU member states. The use of spatial econometric models allows us to incorporate the interactions among European countries into growth models. In line with neoclassical growth models, our results contribute to explaining how the growth of a eurozone country is related to the economic growth of its neighbors. Moreover, we confirm the relevance of eurozone countries’ interactions in times of crisis (2009–2018), as European countries generate spatial spillover effects that link their economic cycles. Although capital stock (i.e., investment) has a positive effect on the eurozone’s growth, its slowdown cannot compensate for the effect of declining labor-force participation, which is proven to be a crucial factor for growth. Likewise, immigration flows affect economic growth, but this differs according to the workers’ level of education. Full article

(This article belongs to the Special Issue Collaborative Economy: Policy and Regional Economic Development)

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15 pages, 315 KiB

Open AccessArticle

Sharing Economy for Tackling Crypto-Laundering: The Europol Associated ‘Global Conference on Criminal Finances and Cryptocurrencies’

by Ethem Ilbiz and Christian Kaunert

Sustainability 2022, 14(11), 6618; https://doi.org/10.3390/su14116618 - 28 May 2022

Cited by 1 | Viewed by 2619

Abstract

This article examines the compatibility of the Global Conference on Criminal Finances and Cryptocurrencies with a sharing economy model. The analysis is based on the claims presented in Europol documents and public statements of Europol executives that this initiative serves as a platform [...] Read more.

This article examines the compatibility of the Global Conference on Criminal Finances and Cryptocurrencies with a sharing economy model. The analysis is based on the claims presented in Europol documents and public statements of Europol executives that this initiative serves as a platform for knowledge exchange and building professional networks between public and private actors to tackle crypto-laundering. The article investigates the validity of these statements with the most prominent sharing economy concepts: low barrier accessibility, transaction cost and trust-building. The article employs each sharing economy concept on two beneficiaries of the platform—law enforcement agencies (LEAs) and non-governmental organizations—while scaling the platform’s sharing economy level. Based on Europol documents, an expert interview and participant observation of the 5th Global Cryptocurrency Conference, the article’s core argument is that these cryptocurrency conferences can be categorized as a ‘partial’ sharing economy platform. They reduce the transaction cost for public and private actors to share knowledge about the latest trends and threats about crypto-laundering and reduce transaction costs for networking. However, co-founders should consider integrating robust trust-building mechanisms that allow low barrier entry to the conference, which will facilitate more inclusive and optimized public–private partnerships (P3). Full article

(This article belongs to the Special Issue Collaborative Economy: Policy and Regional Economic Development)

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