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Published in last 1 year |  In last 2 years |  In last 3 years |  All Please wait a minute... For Selected: Download Citations EndNote Ris BibTeX Toggle Thumbnails Select High-Standard International Economic and Trade Rules in the Digital Domain and Digital Trade Ma Meng-juan, Yu Zi-ling, Ma Li-li Contemporary Finance & Economics    2026, 0 (3): 112-126.   Abstract （12）            Knowledge map    Save Accelerating the alignment with high-standard international economic and trade rules in the digital domain is of great significance for releasing the growth potential of digital trade. By making use of Trade Agreements Provisions on Electronic-Commerce and Data from 2000 to 2022 and the United Nations Conference on Trade and Development Statistical Database, this study examines the impact of international high standard economic and trade rules in the digital field on digital trade from the perspective of post border clauses in free trade agreements. The findings show that international high standard economic and trade rules in the digital field have a significant promoting effect on digital trade. Among them, the promoting effect of inclusive rule docking is more prominent, while the restrictive rule docking presents restraining effects. Its mechanism of action mainly includes the support effect of the digital industry and the reconstruction effect of the digital network. The heterogeneity analysis reveals that the promotion effect of digital service clauses is the strongest, followed by digital intellectual property and digital investment clauses, while the role of competition policy clauses is relatively weaker. The expansion analysis reveals that there are differences in the impact of different institutional integration paths on digital trade. The promotion effect of China, the United States, or the joint accession of China and the United States to the Comprehensive and Progressive Agreement for Trans Pacific Partnership is particularly evident, while the accession or rule integration of some developing countries may have inhibitory effects on digital trade. In addition, international high standard economic and trade rules in the non digital field indirectly promote the development of digital trade through innovative factor activation effects, business environment optimization effects, and human capital adaptation effects. Therefore, countries should prioritize promoting the implementation of inclusive rules and avoid blindly exporting systems. At the same time, they should strengthen the support capacity of the digital industry and the access rules of hierarchical classification, thus forming a gradient based regional rule adaptation path. Reference | Related Articles | Metrics | Comments（0） Select A Study of the Impact of Cross-Border Data Flow Restrictions on the GVC Division of Labor Status of Producer Services Yuan Hong-lin, Liu Dong-xue Contemporary Finance & Economics    2026, 0 (3): 127-139.   Abstract （18）            Knowledge map    Save With the deepening development of the digital economy on a global scale, cross-border data flow has a significant impact on the global value chain division of labor in the productive service industry. Based on the Digital Trade Restrictions Index database of the European Centre for International Political Economy (ECIPE), this study quantifies the cross-border data flow restrictions of five major production service industries in 42 economies from 2014 to 2018, and further conducts an empirical analysis on their specific impact on the global value chain division of labor position of the production service industry. The findings show that cross-border data flow restrictions significantly inhibit the advancement of the global value chain division of labor in the productive service industry. The heterogeneity analysis shows that the global value chain division of labor position of wholesale and retail (including motor vehicle repair), transportation and warehousing, leasing, and other business service industries is significantly more suppressed than that of postal and telecommunications industries and financial insurance industries; compared to developed economies, the position of productive services in the global value chain division of labor in developing economies is more inhibited, while economies with higher economic freedom can effectively cope with the negative impact of cross-border data flow restrictions. The mechanism analysis shows that cross-border data flow restrictions reduce the global value chain division of labor position of productive service industries through three paths: inhibiting research and development innovation, causing imbalances in human capital structure, and increasing trade costs. Therefore, the government should further improve the data flow governance framework that balances security and efficiency, and strengthen factor support by incentivizing technological innovation, optimizing human capital structure, and reducing trade costs. At the same time, it should promote the integration of international data standards and enhance policy flexibility and economic freedom, thereby promoting the high-quality development of productive service industries under cross-border data regulation. Reference | Related Articles | Metrics | Comments（0） Select Enterprise Green Technology Network Position and Total Factor Productivity Wu Zhen, Yan Zhong-xiao Contemporary Finance & Economics    2025, 0 (10): 113-126.   Abstract （90）            Knowledge map    Save Inter-firm networks serve as crucial channels for enterprises to acquire information and technology. The position of green technology networks determines the quality and quantity of green technology resources that enterprises can access, which is of great significance for enterprises to achieve high-quality development. Based on the theoretical analysis of the impact of enterprises' green technology network position on total factor productivity, this paper conducts an empirical test using the data from the listed manufacturing companies in China from 2007 to 2022. The research results show that an advantageous position in the green technology network of enterprises is conducive to improving total factor productivity, that an advantageous position in the green technology network of enterprises enhances total factor productivity by enhancing enterprises' green technology innovation capabilities and optimizing resource allocation, that enterprises' absorptive capacity and digital transformation can strengthen the enhancing effect of advantageous position in the green technology network on total factor productivity, and that an advantageous position in the green technology network helps enterprises achieve a win-win situation between environmental performance and economic performance. According to the research conclusions, it is necessary to build a green technology network with closer connections and more efficient operations to promote information sharing and resource integration, encourage enterprises to utilize the green technology network to improve total factor productivity, and empower high-quality development. Reference | Related Articles | Metrics | Comments（0） Select Human Capital, Carbon Productivity and Quality of Green Product Exports Ni Yi-ning, Ma Ye-qing, Meng Ning Contemporary Finance & Economics    2025, 0 (10): 127-139.   Abstract （85）            Knowledge map    Save The enhancement of human capital stock in China is a crucial guarantee for firms to achieve improvements in carbon productivity and, subsequently, to elevate the quality of green product exports. This study explores how the dynamic changes in the structure of human capital and its synergistic effects with carbon productivity facilitate the enhancement of firms' green product export quality. The findings indicate that the synergistic effect between human capital and carbon productivity significantly improves the quality of green product exports. Moreover, the conclusion remains robust after conducting a series of tests for robustness and endogeneity. Additionally, the positive influence of the synergistic effect on the quality of green product exports is particularly pronounced among private firms, processing trade firms, firms with a high degree of differentiated product, and firms exporting to high-income countries. The synergistic interaction between human capital and carbon productivity enhances the export quality of green products in firms through two mechanisms: research and development facilitation and technological absorption capacity building. Further research reveals that the advanced human capital structure synergistically interacts with carbon productivity across temporal and spatial dimensions, which serves as a critical driver in enhancing the export quality of green products at the firm level. Consequently, firms should prioritize the improvement and synergistic development of human capital and carbon productivity to provide sufficient impetus for enhancing the quality of green product exports. Reference | Related Articles | Metrics | Comments（0） Select The Trade of Domestic Value Chain and Regional Green Development Gap Wang Yu-yan, Tu Ming-hui Contemporary Finance & Economics    2025, 0 (8): 112-126.   Abstract （80）            Knowledge map    Save Recently, the overall level of green development in China has been improved. However, the persistent issue of regional disparities in green development remains a pressing challenge. This paper employs the Non-Radial Directional Distance Function (NDDF) model and the interregional input-output tables to measure the level of green development and the rate of value added in domestic value chain trade respectively. Then it pairs the provincial regional data to empirically study the impact of domestic value chain trade on regional disparities in green development. The findings show that domestic value chain trade can significantly narrow the regional green development gap, primarily driven by the“green catching-up”effect in less developed regions. The convergence effect of domestic value chain trade on regional disparities in green development is more pronounced within the eastern and central-western regions, and it becomes stronger when the gaps in regional division of labor status and green development levels are larger. The mechanism analysis indicates that knowledge network spillovers, industrial structure optimization, and green technology innovation are key pathways through which domestic value chain trade reduces regional green development disparities. Further research reveals that new infrastructure construction can amplify the green convergence effect of domestic value chain trade. Under the new“dual circulation”development paradigm, it is essential to leverage domestic circulation channels to strengthen the cross-regional division of labor and the collaboration in industrial and supply chains. By fully harnessing the driving role of domestic value chain trade in regional green development, a new pattern of coordinated digital and green development can be established. Reference | Related Articles | Metrics | Comments（0） Select Research on the Impact of Collaborative Environmental Regulation between Government and the Public on Urban Green Innovation Lei Xu-bin, Wang Liang-jian Contemporary Finance & Economics    2025, 0 (8): 127-138.   Abstract （72）            Knowledge map    Save Against the backdrop of accelerating global green transition, promoting green innovation has become a key path to achieve high-quality and sustainable economic development, and the collaborative environmental regulation by the government and the public is emerging as an important driving force for urban green innovation. Based on the data from 282 cities in China spanning from 2011 to 2023, this study employs a coupling coordination degree model to measure the level of collaborative environmental regulation between the government and the public, and explores the impact of such collaboration on urban green innovation. The research results indicate that the collaborative environmental regulation between the government and the public can promote urban green innovation. This collaborative regulation can drive urban green innovation by influencing corporate green strategies. Intellectual property protection and digital government construction can enhance the promotional effect of collaborative environmental regulation between the government and the public on urban green innovation. The promotional effect of the collaborative environmental regulation between the government and the public on urban green innovation is more prominent in cities with a lower proportion of the secondary industry, a higher proportion of the tertiary industry, and greater government expenditure on science and technology. Therefore, all regions should improve the collaborative environmental regulation mechanism between the government and the public, strengthen intellectual property protection and digital government construction, optimize industrial structure, and increase investment in science and technology, in order to promote urban green innovation and drive green development across the entire society. Reference | Related Articles | Metrics | Comments（0） Select Has Stricter Pollution Discharge Standard Triggered the Porter Effect? Micro-Evidences from Chinese Water Polluting Enterprises GUO Yu-hui, WU Han-ran, ZHANG Zheng Contemporary Finance & Economics    2023, 0 (1): 108-119.   Abstract （211）            Knowledge map    Save The discharge standard of pollutants is the basic tools of environmental regulation, whose dynamic update process of“replacing old with new, replacing loose with strict”is the main driving force for the green transformation of China's manufacturing industry. This paper manually collects the information of 60 industrial water pollutant discharge standards issued in China from 2005 to 2013 and makes use of the micro-data of Chinese water polluting enterprises at the same period to conduct an empirical study on whether stricter standards can promote enterprise green total factor productivity and trigger the Porter effect by employing the multi-phase DID method. The findings show that the green total factor productivity of enterprises increased by an average of 2.28% after the improvement of the standards and that this impact is more significant in the enterprises with high pressure to meet the standards, in the enterprises with strong financing capacity and in the regions with strong law enforcement. The results of the mechanism analysis show that enterprises can achieve green transformation through the materialized technological advances contained in equipment upgrading and rebuilding and the improvement of resources utilization efficiency and management efficiency. Besides, although stricter standards failed to increase the number of green patent applications of enterprises, they significantly improved the patents quality of the enterprises. At the same time, the technological transformation needs of the affected industries would indirectly induce the green patent research and development in the upstream equipment manufacturing industry, which means that the Porter effect overflows into the upstream industries. Reference | Related Articles | Metrics | Comments（0） Select How Does Regional Integration in China Affect Carbon Emission Efficiency? XU Bin, KE Da, LIU Yang-qian-yu Contemporary Finance & Economics    2023, 0 (1): 120-131.   Abstract （134）            Knowledge map    Save Based on the data of 30 provinces in China except Tibet, Taiwan Province, Hong Kong and Macao Special Administrative Regions from 2003 to 2019, this paper uses the Super SBM model with unexpected output to measure the carbon emission efficiency of each province, constructs the comprehensive level indicator of regional integration by making use of the integration level of the commodity markets, the labor markets and the financial markets, and analyzes the impact of regional integration, industrial structure advancement, fiscal expenditure scale and the interaction between regional integration and the latter two on carbon emissions efficiency and its spatial effect. The findings show that regional integration is conducive to improving carbon emission efficiency, and this effect will be positively regulated by the advancement of industrial structure and negatively regulated by the scale of financial expenditure; the advancement of industrial structure is conducive to improving carbon emission efficiency, while the expansion of financial expenditure is not conducive to improving carbon emission efficiency, if the level of industrial structure is too low or the scale of financial expenditure is too large, there is a sub optimal strategy to improve carbon emission efficiency by reducing the level of regional integration; regional integration can promote the carbon emission efficiency of adjacent provinces, but this spillover effect is also subject to the positive regulation of industrial structure advancement and the negative regulation of fiscal expenditure scale. Therefore, we should continue to promote the upgrading of industrial structure to ensure and strengthen the role of regional integration in promoting carbon emission efficiency. While stimulating the vitality of market players, the government should also be proactive and promising, allocate more financial expenditure in environmental protection investment, focus on cultivating local competitive industries, and actively implement the regional integration strategy. And the carbon emission policy must focus on regional coordinated development. Reference | Related Articles | Metrics | Comments（0）