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Digital transformation has given firms new development capability. This paper portrays the overall digital transformation intensity of China's listed firms in 2007–20, and empirically examines the impact of digital transformation on outward foreign direct investment (OFDI) and its transmission mechanisms for the first time. It is found that digital transformation significantly enhances OFDI with two...
This paper evaluates the general equilibrium trade and welfare effects of the Belt and Road Initiative (BRI). We estimate the partial trade effect of the BRI using the synthetic control method. By feeding the implied trade cost reduction into counterfactual equations, we simulate the general equilibrium trade and welfare effects of the BRI based on the structural gravity model. We find that the BRI...
Exploiting Google's 2010 withdrawal from mainland China, we examine the causal impact of information accessibility on export quality, and find that export quality decreases after Google's exit. The effect is more pronounced for firms and products facing greater information frictions, for firms in regions with local web filters, for firms trading with countries with more online information, and for...