Broadband infrastructure and local government fiscal risk: evidence from China

References

• Afuah, A. 2003. “Redefining Firm Boundaries in the Face of Internet: Are Firms Really Shrinking.” Academy of Management Review 28 (1): 34–53. doi:10.2307/30040688.
   Web of Science ®Google Scholar
• Agrawal, A., and A. Goldfarb. 2008. “Restructuring Research: Communication Cost and the Democratization of University Innovation.” The American Economic Review 98 (4): 1578–1590. doi:10.1257/aer.98.4.1578.
   Web of Science ®Google Scholar
• Beck, T., R. Levine, and A. Levkov. 2010. “Big Bad Banks? The Winners and Losers from Bank Deregulation in the United States.” The Journal of Finance 65 (5): 1637–1667. doi:10.1111/j.1540-6261.2010.01589.x.
   Web of Science ®Google Scholar
• Bergman, U. M., and M. Hutchison. 2015. “Economic Stabilization in the Post-Crisis World: Are Fiscal Rules the Answer?” Journal of International Money and Finance 52: 82–101. doi:10.1016/j.jimonfin.2014.11.014.
   Web of Science ®Google Scholar
• Charbonneau, E., and G. G. Van Ryzin. 2012. “Performance Measures and Parental Satisfaction with New York City Schools.” American Review of Public Administration 42 (1): 54–65. doi:10.1177/0275074010397333.
   Web of Science ®Google Scholar
• Chen, C., S. Yao, P. Hu, and Y. Lin. 2017. “Optimal Government Investment and Public Debt in an Economic Growth Model.” China Economic Review 45: 257–278. doi:10.1016/j.chieco.2016.08.005.
   Web of Science ®Google Scholar
• Cook, C. J., and M. Shah. 2022. “Aggregate Effects from Public Works: Evidence from India.” The Review of Economics and Statistics 104 (4): 797–806. doi:10.1162/rest_a_00993.
   Web of Science ®Google Scholar
• Czernich, N., O. Falck, T. Kretschmer, and L. Woessmann. 2011. “Broadband Infrastructure and Economic Growth.” The Economic Journal 121 (552): 505–532. doi:10.1111/j.1468-0297.2011.02420.x.
   Web of Science ®Google Scholar
• Dai, R., Z. Zhu, and X. Zhang 2021. “Index Construction and Spatial Pattern of Regional Innovation and Entrepreneurship in China: 1990-2020.” Center for Enterprise Research Working Papers, Peking University, https://www.cer.pku.edu.cn/tab/zhi-shu-yan-jiu/iriec.
   Google Scholar
• Du, J., Y. Lu, and Z. Tao. 2012. “Contracting Institutions and Vertical Integration: Evidence from China’s Manufacturing Firms.” Journal of Comparative Economics 40 (1): 78–95. doi:10.1016/j.jce.2011.10.002.
   Web of Science ®Google Scholar
• Fan, Z., and Y. Liu. 2020. “Tax Compliance and Investment Incentives: Firm Responses to Accelerated Depreciation in China.” Journal of Economic Behavior & Organization 176: 1–17. doi:10.1016/j.jebo.2020.04.024.
   Web of Science ®Google Scholar
• Forman, C., A. Goldfarb, and S. Greenstein. 2012. “The Internet and Local Wage: A Puzzle.” The American Economic Review 102 (1): 556–575. doi:10.1257/aer.102.1.556.
   Web of Science ®Google Scholar
• Freyaldenhoven, S., C. Hansen, and J. M. Shapiro. 2019. “Pre-Event Trends in the Panel Event-Study Design.” The American Economic Review 109 (9): 3307–3338. doi:10.1257/aer.20180609.
   Web of Science ®Google Scholar
• Gao, K., and Y. Yuan. 2022. “Government Intervention, Spillover Effect and Urban Innovation Performance: Empirical Evidence from National Innovative City Pilot Policy in China.” Technology in Society 70: 102035. doi:10.1016/j.techsoc.2022.102035.
   Web of Science ®Google Scholar
• Goldfarb, A., and C. Tucker. 2019. “Digital Economics.” Journal of Economic Literature 57 (1): 3–43. doi:10.1257/jel.20171452.
   Web of Science ®Google Scholar
• Goodman-Bacon, A. 2021. “Difference-In-Differences with Variation in Treatment Timing.” Journal of Econometrics 225 (2): 254–277. doi:10.1016/j.jeconom.2021.03.014.
   Web of Science ®Google Scholar
• Greiner, A. 2012. “Public Capital, Sustainable Debt and Endogenous Growth.” Research in Economics 66 (3): 230–238. doi:10.1016/j.rie.2012.03.003.
   Google Scholar
• Guo, Y. 2011. “Arrears, Risk Position and China’s Fiscal Safety: A Theoretical Framework of China’s Fiscal Risk Early Warning and Control.” Economic Research Journal 46 (08): 38–50. In Chinese.
   Google Scholar
• Guo, F., J. Wang, F. Wang, T. Kong, X. Zhang, and Z. Cheng. 2020. “Measuring China’s Digital Finance Inclusion: Index Compilation and Spatial Characteristics.” China Economic Quarterly 19 (04): 1401–1418. In Chinese.
   Google Scholar
• Heylen, F., A. Hoebeeck, and T. Buyse. 2013. “Government Efficiency, Institutions, and the Effects of Fiscal Consolidation on Public Debt.” European Journal of Political Economy 31: 40–59. doi:10.1016/j.ejpoleco.2013.03.001.
   Web of Science ®Google Scholar
• Hjort, J., and J. Poulsen. 2019. “The Arrival of Fast Internet and Employment in Africa.” The American Economic Review 109 (3): 1032–1079. doi:10.1257/aer.20161385.
   Web of Science ®Google Scholar
• Jones, C., and C. Tonetti. 2020. “Nonrivalry and the Economics of Data.” The American Economic Review 110 (9): 2819–2858. doi:10.1257/aer.20191330.
   Web of Science ®Google Scholar
• Kelly, J. M., and D. Swindell. 2002. “A Multiple - Indicator Approach to Municipal Service Evaluation: Correlating Performance Measurement and Citizen Satisfaction Across Jurisdictions.” Public Administration Review 62 (5): 610–621. doi:10.1111/1540-6210.00241.
   Web of Science ®Google Scholar
• King, D. S., and T. R. Gurr. 1988. “The State and Fiscal Crisis in Advanced Industrial Democracies.” International Journal of Urban and Regional Research 12 (1): 87–106. doi:10.1111/j.1468-2427.1988.tb00075.x.
   Web of Science ®Google Scholar
• Li, Q., S. Chen, and H. Chen. 2022. “Effect of Strict Financial Regulation on Real Economy: Empirical Evidence from the New Asset Management Regulation.” Economic Research Journal 57 (01): 137–154. In Chinese.
   Google Scholar
• Liu, S. 2003. “Framework on China’s Fiscal Risk.” Economic Research Journal 05: 23–31+91. In Chinese.
   Google Scholar
• Liu, F., L. Li, and Y. Xue. 2009. “Trust, Transaction Cost and Mode of Trade Credit.” Economic Research Journal 44 (08): 60–72. In Chinese.
   Google Scholar
• Liu, Y., and J. Mao. 2019. “How Do Tax Incentives Affect Investment and Productivity? Firm-Level Evidence from China.” American Economic Journal: Economic Policy 11 (3): 261–291. doi:10.1257/pol.20170478.
   Web of Science ®Google Scholar
• Luo, D., and G. She. 2015. “Official’s Turnover and Issuance of Local Government Debt.” Economic Research Journal 50 (06): 131–146. In Chinese.
   Google Scholar
• Lyu, W., J. Zhou, and Y. Lu. 2019. “A New Perspective for Understanding the Central-Local Fiscal Game: Evidence from Reforms in the Issuance and Repayment Modes of Municipal Bonds.” Social Sciences in China 10. 134-159+206–207.
   Google Scholar
• McMullin, J. L., and B. Schonberger. 2020. “Entropy-Balanced Accruals.” Review of Accounting Studies 25 (1): 84–119. doi:10.1007/s11142-019-09525-9.
   Web of Science ®Google Scholar
• Meijers, H. 2014. “Does the Internet Generate Economic Growth, International Trade, or Both?” International Economics & Economic Policy 11 (1–2): 137–163. doi:10.1007/s10368-013-0251-x.
   Google Scholar
• Miao, X. 2017. “The Consideration of Potential Financial Crisis in China: Based on the Analysis of Debt, Deficit and Aggregate Supply.” Public Finance Research 11: 2–18. In Chinese.
   Google Scholar
• Mukherjee, A., M. Singh, and A. Zaldokas. 2017. “Do Corporate Taxes Hinder Innovation?” Journal of Financial Economics 124 (1): 195–221. doi:10.1016/j.jfineco.2017.01.004.
   Web of Science ®Google Scholar
• Ohrn, E. 2019. “The Effect of Tax Incentives on U.S. Manufacturing: Evidence from State Accelerated Depreciation Policies.” Journal of Public Economics 180: 104084. doi:10.1016/j.jpubeco.2019.104084.
   Web of Science ®Google Scholar
• Orlov, E. 2011. “How Does the Internet Influence Price Dispersion? Evidence from the Airline Industry.” The Journal of Industrial Economics 59 (1): 21–37. doi:10.1111/j.1467-6451.2011.00444.x.
   Web of Science ®Google Scholar
• Pang, X., and D. Li. 2015. “The Economic Climates and Government Debt Risk in China.” Economic Research Journal 50 (10): 18–33. In Chinese.
   Google Scholar
• Reinhart, C. M., and K. S. Rogoff. 2010. “Growth in a Time of Debt.” The American Economic Review 100 (2): 573–578. doi:10.1257/aer.100.2.573.
   Web of Science ®Google Scholar
• Sheiner, L. 2018. “Effects of Low Productivity Growth on Fiscal Sustainability in the United States.” Brookings Institution, working papers 18–19.
   Google Scholar
• Tian, X., and R. Li. 2022. “Digital Technology Empowers the Transformation and Development of Real Economy: An Analysis Framework Based on Schumpeter’s Endogenous Growth Theory.” Journal of Management World 38 (05): 56–74. In Chinese.
   Google Scholar
• Titman, S., C. Wei, and B. Zhao. 2022. “Corporate Actions and the Manipulation of Retail Investors in China: An Analysis of Stock Splits.” Journal of Financial Economics 145 (3): 762–787. doi:10.1016/j.jfineco.2021.09.018.
   Web of Science ®Google Scholar
• Wang, J. 2013. “The Economic Impact of Special Economic Zones: Evidence from Chinese Municipalities.” Journal of Development Economics 101: 133–147. doi:10.1016/j.jdeveco.2012.10.009.
   Web of Science ®Google Scholar
• Wang, Q., W. Xu, Y. Huang, and J. Yang. 2022. “The Effect of Fast Internet on Employment: Evidence from a Large Broadband Expansion Program in China.” China & World Economy 30 (3): 100–134. doi:10.1111/cwe.12420.
   Web of Science ®Google Scholar
• Xu, X., and M. Zhao. 2020. “Data Capital and Economic Growth Path.” Economic Research Journal 55 (10): 38–54. In Chinese.
   Google Scholar
• Yang, J., X. Li, and S. Huang. 2022. “Big Data, Technical Progress and Economic Growth: An Endogenous Growth Theory Introducing Data as Production Factors.” Economic Research Journal 57 (04): 103–119. In Chinese.
   Google Scholar
• Yan, Y., T. Liu, N. Wang, and S. Yao. 2022. “Urban Sprawl and Fiscal Stress: Evidence from Urbanizing China.” Cities 126: 103699. doi:10.1016/j.cities.2022.103699.
   Web of Science ®Google Scholar
• Yu, B. 2022. “The Impact of the Internet on Industrial Green Productivity: Evidence from China.” Technological Forecasting & Social Change 177: 121527. doi:10.1016/j.techfore.2022.121527.
   Web of Science ®Google Scholar
• Zhang, M., Y. Hong, and B. Zhu. 2022. “Does National Innovative City Pilot Policy Promote Green Technology Progress? Evidence from China.” Journal of Cleaner Production 363: 132461. doi:10.1016/j.jclepro.2022.132461.
   Web of Science ®Google Scholar
• Zhang, L., S. Hsu, Z. Xu, and E. Cheng. 2020. “Responding to Financial Crisis: Bank Credit Expansion with Chinese Characteristics.” China Economic Review 61: 101233. doi:10.1016/j.chieco.2018.09.014.
   Web of Science ®Google Scholar
• Zhang, X., G. Wan, J. Zhang, and Z. He. 2019. “Digital Economy, Financial Inclusion and Inclusive Growth.” Economic Research Journal 54 (08): 71–86. In Chinese.
   Google Scholar
• Zhang, X., T. Yang, C. Wang, and G. Wan. 2020. “Digital Finance and Household Consumption: Theory and Evidence from China.” Journal of Management World 36 (11): 48–63. In Chinese.
   Google Scholar
• Zhao, L., and H. Fang. 2022. “Investment Incentives and Leverage: Evidence from China’s Accelerated Depreciation Policy.” The World Economy 45 (11): 3625–3649. doi:10.1111/twec.13273.
   Web of Science ®Google Scholar
• Zhao, R., Y. Tang, J. Zhang, and C. Feng. 2022. “Social Supervision and the Social Insurance Payment of Firms: Evidence from the Pilot of Social Insurance Supervision.” Journal of Management World 38 (07): 170–184. In Chinese.
   Google Scholar
• Zhao, T., Z. Zhang, and S. Liang. 2020. “Digital Economy, Entrepreneurship, and High-Quality Economic Development: Empirical Evidence from Urban China.” Journal of Management World 36 (10): 65–76. In Chinese.
   Google Scholar
• Zhou, Q., X. Cui, H. Ni, and L. Gong. 2022. “The Impact of Environmental Regulation Policy on Firms’ Energy-Saving Behavior: A Quasi-Natural Experiment Based on China’s Low-Carbon Pilot City Policy.” Resources Policy 76: 102538. doi:10.1016/j.resourpol.2021.102538.
   Web of Science ®Google Scholar
• Zhou, F., H. Wen, and C. C. Lee. 2022. “Broadband Infrastructure and Export Growth.” Telecommunications Policy 46 (5): 102347. doi:10.1016/j.telpol.2022.102347.
   Web of Science ®Google Scholar