This paper investigates whether and how economic policy uncertainty affects corporate debt maturity. Using a large firm-level dataset for four European countries, we find that an increase in economic policy uncertainty is significantly associated with a shortened debt maturity. Moreover, the impacts are stronger for innovation-intensive firms. We use firms' flexibility in changing debt maturity and the deviation to leverage target to gauge the causal relationship, and identify the reduced investment and steepened term structure as the transmission mechanisms.
By focusing on the episodes of substantial capital account liberalisation and adopting a new methodology, this paper provides new evidence on the dilemma and global financial cycle theory. I first identify the capital account liberalisation episodes for 95 countries from 1970 to 2016, and then employ an augmented inverse propensity score weighted (AIPW) estimator to calculate the average treatment effect (ATE) of opening capital account on the interest rate comovements with the core country. Results show that opening capital account causes a country to lose its monetary policy independence, and a floating exchange rate regime cannot shield this effect. Moreover, the impact is stronger when liberalising outward and banking flows.
By adopting a difference-in-differences specification combined with propensity score matching, we provide evidence using the microdata of German banks that stateowned savings banks have lent less than credit cooperatives during the COVID-19 crisis. In particular, the weaker lending effects of state-owned banks are pronounced for long-term and nonrevolving loans but insignificant for short-term and revolving loans. Moreover, the negative impact of government ownership is larger for borrowers who are more exposed to the COVID-19 shock and in regions where the ruling parties are longer in office and more positioned on the right side of the political spectrum.
In: Revista de cercetare şi intervenţie socială: RCIS = Review of research and social intervention = Revue de recherche et intervention sociale, Band 69, S. 227-240
En este trabajo, se compara el sistema de seguridad y salud laboral en ambos países de España y China desde el aspecto legislativo, organizativo (nacional e individual) y la situación actual de ejecución de las actividades preventivas en ambas países. El objetivo principal del trabajo presente es la búsqueda de referencias para el mejoramiento del sistema de seguridad y salud laboral en China. La metodología principalmente utilizada es la consulta de normativas emitidas a nivel nacional, artículos, estudios e informes específicos relacionados con el tema de seguridad y salud laboral, y la recogida de datos de las entidades reales. El resultado del trabajo es previsto mediante una estimación del estado de seguridad y salud laboral de ambos países combinando los conocimientos conseguidos en clase. Las referencias por tomar para China se puede encontrar en el proceso de conocer y comparar las situaciones en ambos lados. El trabajo presente puede ser un instrumento teórico para el desarrollo de prevención de riesgos laborales y mejoramiento del sistema de gestión y control de seguridad y salud laboral en China.
En este trabajo, se compara el sistema de seguridad y salud laboral en ambos países de España y China desde el aspecto legislativo, organizativo (nacional e individual) y la situación actual de ejecución de las actividades preventivas en ambas países. El objetivo principal del trabajo presente es la búsqueda de referencias para el mejoramiento del sistema de seguridad y salud laboral en China. La metodología principalmente utilizada es la consulta de normativas emitidas a nivel nacional, artículos, estudios e informes específicos relacionados con el tema de seguridad y salud laboral, y la recogida de datos de las entidades reales. El resultado del trabajo es previsto mediante una estimación del estado de seguridad y salud laboral de ambos países combinando los conocimientos conseguidos en clase. Las referencias por tomar para China se puede encontrar en el proceso de conocer y comparar las situaciones en ambos lados. El trabajo presente puede ser un instrumento teórico para el desarrollo de prevención de riesgos laborales y mejoramiento del sistema de gestión y control de seguridad y salud laboral en China.
This thesis examines the phenomenon of online anticorruption in the People's Republic of China. It explores the factors that determine the process and outcome of this type of anticorruption activity. In contrast to existing literature which focuses on the functions and shortcomings of online anticorruption, and suggests that online anticorruption should be integrated into the China's existing anticorruption system, this thesis argues that the credibility, and thus the power of online anticorruption lies in its extra-institutional nature, and that attempts to institutionalize it can only diminish its power. This thesis employs the theory of contentious politics to examine online anticorruption. Contentious politics theory not only concerns the static institutional setting, but also the dynamic interactions between actors involved. The rationale, and emphasis, of the theory of contentious politics makes it an appropriate theory for studying and understanding online anticorruption in China. This thesis specifically pays attention to the framing of and opportunity structure for the online anticorruption; these two aspects covers the internal and external factors that determine the process and outcome of online anticorruption. Eight case studies are undertaken to support the argument and empirical analysis: the cases of Deng Yujiao; 'Sky-High Price' Cigarette; 'Sky-High Price' Maotai; 'Uncle House'; 'Uncle Watch'; 'My Father is Li Gang'; Luo Caixia; and the Wukan Event. On the one hand, the thesis deepens the application of the theory of contentious politics by examining the impact of the Internet and other Information and Communication Technologies (ICTs) on the state-society relationship and, on the other hand, it sheds light on the development of corruption and anticorruption by echoing the idea that society should, and can, play a role in checking the operation of public power, and demonstrating how the Internet allows ordinary Chinese citizens to frame their actions and take advantage of a political structure in ...
Comprehensive human development is the ultimate goal of achieving a happy life and creating sustainable social development. This study examines 31 provinces in China as the research object, constructs an evaluation index system for comprehensive human development in three dimensions (human–nature, human–society, human–human), and analyzes the spatio-temporal evolution patterns. Barrier and regression analyses are used to identify the main drivers of the levels in different regions. The results show that: (1) China's level of comprehensive human development has been on the rise since 2005. The level of harmonious development in human–nature and human–society is constantly improving, while the process of harmonious development in the human–human dimension is, relatively, lagging behind. There are large regional differences, with high-level areas being distributed in the northeastern and eastern coastal provinces, while the central and western regions are farther behind. (2) An analysis of the barriers shows that the development of green infrastructure is the main barrier affecting differences in the level of harmonious development in the human–nature dimension. Income distribution, housing problems, and recreation levels are the main barriers affecting differences in the level of harmonious development in the human–society dimension. The level of information technology and aging issues are the main barriers affecting the differences in the level of harmonious development of the human–human dimension. (3) Regression analysis shows that the level of economic development and the degree of openness have a significant impact on the level of comprehensive human development, and that industrialization plays a negative role, while the size of government and the level of marketization have a weak effect on comprehensive human development.
