Risk sharing and industrial specialization in China

Du, Julan; He, Qing; Zhang, Ce

doi:10.1016/j.jce.2022.01.003

Cited by 2 publications

(2 citation statements)

References 53 publications

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“…Firstly, relaxing financial constraints is known to promote the growth of industrial productivity [17]. Secondly, diversifying risks in financial services contributes to the development of industrial planning by establishing risk-sharing mechanisms [18]. Thirdly, innovative financial products further promote the integration of finance and industry.…”

Section: Research On Finance and The Aiamentioning

confidence: 99%

The Impact of Farmland Management Rights Mortgage Loan on the Agri-Food Industrial Agglomeration: Case of Hubei Province

Wang

Chen

et al. 2023

Land

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The Chinese government encourages rural economic entities to use farmland management rights as collateral for loans, which helps to alleviate multi-level financing needs in rural areas. Based on the panel data of counties in Hubei Province, this paper adopts the Difference-in-Differences (DID) and the intermediary effect model to evaluate the impact of farmland management rights mortgage loans (FMRML) on the agri-food industrial agglomeration (AIA) in China. The study found that the pilot policy has significantly promoted the AIA. Moreover, the regression results remain robust after conducting the placebo test and the Propensity Score Matching Difference-in-Differences (PSM-DID) model, which demonstrates that the improvement effect is stable and long-lasting. From the heterogeneity analysis, it can be seen that the policy of FMRML has a more significant effect on the AIA in mountainous and hilly areas. By further analysis of the mechanism of action, it can be concluded that the pilot policy promotes the AIA by enhancing agricultural specialized production. The main findings can provide information for policymakers in China. The recommendations we have summarized encompass gradually expanding the scope of the pilot policy of FMRML, advancing the institutionalization and legalization of the policy, and promoting agricultural production specialization.

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Section: Research On Finance and The Aiamentioning

confidence: 99%

The Impact of Farmland Management Rights Mortgage Loan on the Agri-Food Industrial Agglomeration: Case of Hubei Province

Wang

Chen

et al. 2023

Land

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show abstract

“…Importantly, the ORIV also alleviates concerns about the identification of the firm-labor supply elasticity in a given period, which might be affected by the variation of firm fixed effects in the same period. We also evaluate the exclusion restriction assumption by extending equation (5) to contain both the endogenous variable and the instrument as explanatory variables (Du et al, 2022). Intuitively, if a third factor were driving both 2015-2020.…”

Section: The Role Of Competition In the Decline Of Inequalitymentioning

confidence: 99%

Labor Market Competition and Inequality

Garcia-Louzao,

Ruggieri

2023

SSRN Journal

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Risk sharing and industrial specialization in China

Cited by 2 publications

References 53 publications

The Impact of Farmland Management Rights Mortgage Loan on the Agri-Food Industrial Agglomeration: Case of Hubei Province

The Impact of Farmland Management Rights Mortgage Loan on the Agri-Food Industrial Agglomeration: Case of Hubei Province

Labor Market Competition and Inequality

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