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The purpose of this study is to explore the effect and mechanism of the digital economy’s influence on the binary margin of agricultural exports.

Based on the theoretical analysis of the mechanism of the digital economy’s influence on the binary margin of agricultural exports, this study empirically examines the effect and mechanism of the digital economy’s influence on the binary margin of agricultural exports based on China’s customs export data from 2011 to 2016.

The relevant findings are threefold. (1) The digital economy significantly improves the binary margin of agricultural exports, and its effect on the intensive margin is stronger than that on the expansive margin. After the expansive margin is subdivided, the effects on the three sub-variables of the expansive margin are in the following order: old products exported to new markets > new products exported to old markets > new products exported to new markets. (2) The heterogeneity analysis reveals that the digital economy has a stronger role in promoting the binary margin of exports for enterprises in the eastern region, high-income countries as the destination of exports and state-owned enterprises. (3) Mechanism analysis shows that the digital economy promotes the binary margin of agricultural exports by reducing trade costs and intensifying market competition.

First, in terms of research perspective, although there are some studies on the impact of the digital economy on export trade in existing literature, the research objects mainly focus on manufacturing enterprises. In fact, agricultural trade is susceptible to natural conditions and seasonal factors, and countries may impose more SPS measures and TBT measures on agricultural trade due to risk considerations. The relationship between the digital economy and agricultural trade also has its own characteristics, but there are few research studies in this area. At present, only Liu and Gao (2022), based on the data of total imports and exports of different agricultural products from 2004 to 2018, have established a vector auto-regressive model to empirically analyse the heterogeneous dynamic impact of the digital economy on the trade volume of agricultural products. In addition, Ma and Guo (2023) conducted an empirical test on the total effect, regional heterogeneity and threshold effect of the digital economy on agricultural export trade based on China’s provincial panel data from 2011 to 2020. Therefore, under the new circumstances of continuous integration of digital technology and agriculture, this study interprets the impact effect and mechanism of the digital economy on the binary margin of agricultural exports from the perspective of the digital economy, providing new research perspectives and approaches for promoting the growth of agricultural exports. Second, in terms of theoretical analysis, the above studies have not been fully analysed in terms of the specific mechanism of the impact of the digital economy on agricultural exports. Based on the positive and negative characteristics of agricultural trade, this study introduces two kinds of roles into the theoretical analysis framework to comprehensively determine the trade impact effect of the digital economy. Third, in terms of research design, this study empirically examines the impact of the digital economy on the binary margin of agricultural products, passing a series of robustness tests and investigating the mediating roles of trade cost and market competition effects, producing an empirical basis for China to leverage the digital economy to promote the binary margin of agricultural exports.

Existing studies have paid less attention to the impact of knowledge accumulation on digital transformation and its boundary conditions. Hence, this study aims to investigate the effects of ambidextrous knowledge accumulation on manufacturing digital transformation under the moderation of dynamic capability.

This study divides knowledge accumulation into exploratory and exploitative knowledge accumulation and divides dynamic capability into alliance management capability and new product development capability. To clarify the relationship among ambidextrous knowledge accumulation, dynamic capability and manufacturing digital transformation, the authors collect data from 421 Chinese listed manufacturing enterprises from 2016 to 2020 and perform analysis by multiple hierarchical regression method, heterogeneity test and robustness analysis.

The empirical results show that both exploratory and exploitative knowledge accumulation can significantly promote manufacturing digital transformation. Keeping ambidextrous knowledge accumulation in parallel is more conducive than keeping single-dimensional knowledge accumulation. Besides, dynamic capability positively moderates the relationship between ambidextrous knowledge accumulation and manufacturing digital transformation. Moreover, the heterogeneity test shows that the impact of ambidextrous knowledge accumulation and dynamic capabilities on manufacturing digital transformation varies widely across different industry segments or different regions.

First, this paper shifts attention to the role of ambidextrous knowledge accumulation in manufacturing digital transformation and expands the connotation and extension of knowledge accumulation. Second, this study reveals that dynamic capability is a vital driver of digital transformation, which corroborates the previous findings of dynamic capability as an important driver and contributes to enriching the knowledge management literature. Third, this paper provides a comprehensive micro measurement of ambidextrous knowledge accumulation and digital transformation based on the development characteristics of the digital economy era, which provides a theoretical basis for subsequent research.

This paper aims to examine the dynamics of house prices in metropolitan cities in an emerging economy. The purpose of this study is to characterise the house price dynamics and the spatial heterogeneity in the dynamics.

The author explores spatial heterogeneity in house price dynamics, using data for 35 Indian cities with a million-plus population. The research methodology uses panel econometrics allowing for spatial heterogeneity, cross-sectional dependence and non-stationary data. The author tests for spatial differences and analyses the income elasticity of prices, the role of construction costs and lending to the real estate industry by commercial banks.

Long-term fundamentals drive the Indian housing markets, where wealth parameters are stronger than supply-side parameters such as construction costs or availability of financing for housing projects. The long-term elasticity of house prices to aggregate household deposits (wealth proxy) varies considerably across cities. However, the elasticity estimated at 0.39 is low. The highest coefficient is for Ludhiana (1.14), followed by Bhubaneswar (0.78). The short-term dynamics are robust and show spatial heterogeneity. Short-term momentum (lagged housing price changes) has a parameter value of 0.307. The momentum factor is the crucial dynamic in the short term. The second driver, the reversion rate to long-term equilibrium (estimated at −0.18), is higher than rates reported from developed markets.

This research applies to markets that require some home equity contributions from buyers of housing services.

Stakeholders can characterise stable housing markets based on long-term fundamental value and short-run house price dynamics. Because stable housing markets benefit all stakeholders, weak or non-existent mean reversion dynamics may prompt the intervention of policymakers. The role of urban planners, and local and regional governance, is essential to remove the bottlenecks from the demand side or supply side factors that can lead to runaway prices.

Existing literature is concerned about the risk of a housing bubble due to relaxed credit norms. To prevent housing market bubbles, some regulators require higher contributions from home buyers in the form of equity. The dynamics of house prices in markets with higher owner equity requirements vary from high-leverage markets. The influence of wealth effects is examined using novel data sets. This research, documents in an emerging market context, the observations cited in low-leverage developed markets such as Germany and Japan.

This study aims to investigate the factors affecting urban economic development in emerging economic market countries and to provide a new research perspective on urban skyscraper construction.

An empirical analysis based on a difference-in-differences (DID) model is conducted using data of urban data in China that expand into developed markets from 2003 to 2018.

The results of the spatial heterogeneity test indicate that the construction of skyscrapers has a significant promotional effect on the eastern city's economy. In contrast, it has a significant inhibitory effect in the central and western regions. Further findings demonstrate that the construction of skyscrapers can influence urban economic development by promoting industrial agglomeration, especially when the transmission effect of the diversified accumulation of tertiary industry is more prominent. The expansion analysis shows that skyscrapers have increased the level of trade in the city, and the impact on trade has an optimal height.

This paper focuses on the economic and trade effects of skyscrapers, and the optimal height of skyscrapers needs to be discussed in more depth, which is also the next problem the researchers need to study.

The government should attach importance to and promote the construction of urban skyscrapers, and do a good job in overall planning and design. The city should formulate preferential policies in land, taxation, finance, system and other aspects to increase support for urban skyscraper construction and promote local economic development.

This study focuses on the impact of urban skyscraper construction on the economic and trade development of cities in developing countries, which not only complements the relevant research on the economic effects of urban skyscraper construction, but also helps to provide reference for the sustainable development of urbanization in many developing countries.

Digital inclusive finance has a positive promotion effect on the development of the national economy, but little research exists on how digital inclusive finance affects high-quality consumption in economically developed regions. Therefore, to fill the gap, this paper aims to study the impact of digital inclusive finance on high-quality consumption development using the economically developed regions of Jiangsu, Zhejiang and Shanghai as examples.

Firstly, the entropy method is used to construct the index of high-quality consumption among residents. Then, the municipal-level data of Jiangsu, Zhejiang and Shanghai from 2011 to 2020 are used to test the impact. Subsequently, the mechanism of action test and heterogeneity analysis are conducted.

The results show that digital inclusive finance has a positive role in promoting the high-quality consumption of residents in Jiangsu, Zhejiang and Shanghai. At the same time, digital inclusive finance can promote high-quality consumption through its own digital payment and internet insurance channels. There is regional heterogeneity in the impact.

To the best of the authors’ knowledge, this study is the first to examine whether and how digital inclusive finance affects high-quality consumption. The authors consider multiple dimensions, such as consumption level, consumption structure, consumption ability, consumption environment and consumption mode, to measure high-quality consumption. The findings provide valuable insights for policymakers, investors and regulators in planning regulations.

The purpose of this study is to analyze the environmental efficiency level and trend of the transportation sector in the upper–mid–downstream of the Yangtze River Economic Belt and the JingJinJi region in China and assess the effectiveness of policies for protecting the low-carbon environment.

This study uses the meta-frontier slack-based measure (SBM) approach to evaluate environmental efficiency, which targets and classifies specific regions into regional groups. First, this study employs the SBM with the undesirable outputs to construct the environmental efficiency measurement models of the four regions under the meta-frontier and group frontiers, respectively. Then, this study uses the technology gap ratio to evaluate the gap between the group frontier and the meta-frontier.

The analysis reveals several key findings: (1) the JingJinJi region and the downstream of the YEB had achieved the overall optimal production technology in transportation than the other two regions; (2) significant technology gaps in environmental efficiency were observed among these four regions in China; and (3) the downstream region of the YEB exhibited the lowest levels of energy consumption and excessive CO₂ emissions.

To evaluate the differences in environmental efficiency resulting from regions and technological gaps in transportation, this study employs the meta-frontier model, which overcomes the limitation of traditional environmental efficiency methods. Furthermore, in the practical, the study provides the advantage of observing the disparities in transportation efficiency performed by the Yangtze River Economic Belt and the Beijing–Tianjin–Hebei regions.

This study aims to investigate the external effect of the economic growth target pressure of local governments on establishment-level SO₂ emissions.

Based on manually collected panel data of 74,058 China's industrial establishments and more than 330 thousand observations from CIED and ESR, the authors use a firm-fixed effect model, instrumental variables estimation and heterogeneity tests to identify the environmental externality of economic growth target pressure.

The establishments in cities that meet or slightly exceed the economic growth target experience greater negative externality measured by SO₂ emission intensity. This external effect is more pronounced in regions: with a strict and overweighted target setting; with stronger officials' promotion incentives; with a low degree of marketization; and in firms with great economic importance. The authors identify the underlying mechanisms of dependence on dirty industry and the relaxation of environmental enforcement. And the environmental protection constraints in 2007 mitigate the negative externality.

The paper sheds light on to what extent economic growth target pressure has a negative externality of pollution in China and how this pressure may conflict with environmental protection.

This paper complements prior research on the economic effects of economic growth targets, expands the knowledge on the determinants of establishment-level pollution emission from the perspective of target pressure and provides insight into the environmental externality that results from political factors.

Based on the density dependence theory, this paper attempts to explore how two types of interdependence among firms located in the same national high-tech zones (NHTZs) – mutualism and competition – affect entrepreneurship in the NHTZs. The authors suggest that increasing firm density can help enhance legitimacy and form mutual networks. However, as the competition becomes fierce, the above positive relationship will weaken when the firm density exceeds a certain level. In addition, the authors are interested in whether the age of NHTZs would affect their sensitivity to legitimacy and competition and whether firm density affects entrepreneurship.

This article formulates two hypotheses from the theoretical deduction. The hypotheses are examined using the ordinary least squares (OLS) regression with a unique, unbalanced panel dataset of Chinese NHTZs spanning from 2014 to 2021. Considering potential endogeneity risk among the variables, the authors attempt to lag variables and ultimately find the results are still robust.

Drawing upon the density dependence theory, the empirical results show firm density is conducive to promoting entrepreneurship, while the positive relationship between community density and NHTZs' entrepreneurship gradually weakens as the firm density surpasses a certain level. The dynamics between mutualism and competition have different impacts on NHTZs' entrepreneurship. In addition, the results demonstrate that the linkage between firm interdependence and entrepreneurship is stronger for younger NHTZs. Firm density has an impact on entrepreneurship through legitimacy and excessive competition effects.

On the one hand, the research period of this paper is 2014–2021, as the China Torch Statistical Yearbook only started to publish operating revenues in 2014, so the data period of this paper is relatively short. More research can be done in the future when more data is disclosed. On the other hand, the qualitative analysis cannot be conducted because of the limited data and materials. In future research, the qualitative analysis of entrepreneurial activities in NHTZs, such as questionnaires or case studies, needs to be supplemented, which will be an interesting direction.

Most existing research has not distinguished the differences between NHTZs (Wang et al., 2019), especially the differences in legitimacy and access to resources caused by the age of NHTZs. This article considers the heterogeneity between NHTZs, which helps to provide theoretical and practical evidence for a transition economy like China to make trade-off decisions on balancing absorbing new entrants with promoting the efficient allocation of resources based on the density and age of NHTZs.

Drawing upon density dependency theory, this paper enriches the literature on agglomeration and entrepreneurship with a new perspective and extends the study to NHTZs.

First, this paper provides new evidence on how agglomeration affects entrepreneurship from an ecological perspective with the help of mutualism and competition interdependence. Most studies have explored the role of agglomeration in entrepreneurship, focussing on social networks, knowledge spillovers or resource endowments (Acs et al., 2013; Capozza et al., 2018; Yu, 2020). Drawing upon density dependency theory, this paper enriches the literature on agglomeration and entrepreneurship with a new perspective and extends the study to NHTZs. Second, the emphasis of science parks has been primarily on qualitative or case studies (Salvador et al., 2013; Guo and Verdini, 2015; Xie et al., 2018). We have diversified the quantitative research between agglomeration and entrepreneurship by using panel data from Chinese NHTZs from 2014 to 2021. Third, most existing research has not distinguished the differences between NHTZs (Wang et al., 2019), especially the differences in legitimacy and access to resources caused by the age of NHTZs. This article considers the heterogeneity between NHTZs, which helps to provide theoretical and practical evidence for a transition economy like China to make trade-off decisions on balancing absorbing new entrants with promoting the efficient allocation of resources based on the density and age of NHTZs. Finally, this paper meticulously investigates the profound influence and underlying mechanisms of firm density within NHTZs on entrepreneurship. It discerns two distinct mechanisms at play: the legitimacy effect and the impact of excessive competition resulting from firm density. This comprehensive analysis significantly contributes to our comprehension of the intricate interplay between firm density and entrepreneurship, shedding light on the dynamics of competition and mutual benefits.

This paper aims to explore the impact of domestic market fragmentation on the innovation performance of enterprises and its mechanism from the perspective of market segmentation, a government behavior with Chinese characteristics.

In order to verify the theoretical hypothesis proposed in the previous article, that is, whether domestic market fragmentation can effectively improve the innovation performance of enterprises, this paper bases on the data of listed companies from 2010 to 2016, empirically testing the theoretical hypothesis by constructing a measurement model.

Domestic market fragmentation has a significant inhibitory effect on enterprise innovation performance. Domestic market fragmentation has heterogeneous effects on innovation performance of enterprises and regions. It is undeniable that domestic market fragmentation does have a certain support effect on state-owned enterprises but the support effect is achieved by distorting regional resource allocation and creating an unfair market environment.

Firstly, this paper explores the impact mechanism of domestic market fragmentation on corporate innovation performance from the perspective of market segmentation, a government behavior with Chinese characteristics, so as to expand and enrich the relevant research on enterprise innovation. Secondly, from the perspective of corporate innovation performance, this paper provides new evidence for the “curse effect” of domestic market fragmentation. Thirdly, this paper tries to shake the domestic market fragmentation support theory from the perspective of distortion effect brought by the “hand of support” of domestic market fragmentation.

Infrastructure financialization plays a critical role in infrastructure development and urban growth around the world. However, on the one hand, the existing research on the infrastructure financialization focuses on qualitative and lacks quantitative country-specific studies. On the other hand, the spatial heterogeneity and influencing factors of infrastructure financialization are ignored. This study takes China as a typical case to identify and analyze the spatial characteristics, development process and impact factors of infrastructure financialization.

To assess the development and characteristics of infrastructure financialization in China, this study constructs an evaluation index of infrastructure financialization based on the infrastructure financialization ratio (IFR). This study then analyzes the evolution process and spatial pattern of China's infrastructure financialization through the spatial analysis method. Furthermore, this study identifies and quantitatively analyzes the influencing factors of infrastructure financialization based on the spatial Dubin model. Finally, this study offers a policy suggestion as a governance response.

The results demonstrate that infrastructure financialization effectively promotes the development of infrastructure in China. Second, there are significant spatial differences in China’s infrastructure financialization. Third, many factors affect infrastructure financialization, with government participation having the greatest impact. In addition, over-financialization of infrastructure has the potential to lead to government debt risks, which is a critical challenge the Chinese Government must address. Finally, this study suggests that infrastructure financialization requires more detailed, tailored,and place-specific policy interventions by the government.

This study not only contributes to enriching the knowledge body of global financialization theory but also helps optimize infrastructure investment and financing policies in China and provides peer reference for other developing countries.