Search Results (560)

Governments worldwide are mandating e-invoicing and real-time VAT reporting, yet many cash-intensive service SMEs continue to under-report VAT, eroding fiscal revenues. This study investigates whether financial technology (FinTech) adoption can reduce this under-reporting among tourism SMEs in Greece—an economy with high seasonal spending and a persistent shadow economy. This is the first micro-level empirical study to examine how FinTech tools affect VAT compliance in this sector, offering novel insights into how technology interacts with behavioral factors to influence fiscal behavior. Drawing on the Technology Acceptance Model, deterrence theory, and behavioral tax compliance frameworks, we surveyed 214 hotels, guesthouses, and tour operators across Greece’s main tourism regions. A structured questionnaire measured five constructs: FinTech adoption, VAT compliance behavior, tax morale, perceived audit probability, and financial performance. Using Partial Least Squares Structural Equation Modeling and bootstrapped moderation–mediation analysis, we find that FinTech adoption significantly improves declared VAT, with compliance fully mediating its impact on financial outcomes. The effect is especially strong among businesses led by owners with high tax morale or strong perceptions of audit risk. These findings suggest that FinTech tools function both as efficiency enablers and behavioral nudges. The results support targeted policy actions such as subsidies for e-invoicing, tax compliance training, and transparent audit communication. By integrating technological and psychological dimensions, the study contributes new evidence to the digital fiscal governance literature and offers a practical framework for narrowing the VAT gap in tourism-driven economies. Full article

With the support of the dual-carbon strategy and related policies, China’s offshore wind power has experienced rapid development. However, constrained by the inherent intermittency and volatility of wind power, large-scale expansion poses significant challenges to grid integration and exacerbates government fiscal burdens. To address these critical issues, this paper proposes a multi-market coupling trading model integrating energy storage-equipped offshore wind power into electricity–carbon–green certificate markets for large-scale grid networks. Firstly, a day-ahead electricity market optimization model that incorporates energy storage is established to maximize power revenue by coordinating offshore wind power generation, thermal power dispatch, and energy storage charging/discharging strategies. Subsequently, carbon market and green certificate market optimization models are developed to quantify Chinese Certified Emission Reduction (CCER) volume, carbon quotas, carbon emissions, market revenues, green certificate quantities, pricing mechanisms, and associated economic benefits. To validate the model’s effectiveness, a gradient ascent-optimized game-theoretic model and a double auction mechanism are introduced as benchmark comparisons. The simulation results demonstrate that the proposed model increases market revenues by 17.13% and 36.18%, respectively, compared to the two benchmark models. It not only improves wind power penetration and comprehensive profitability but also effectively alleviates government subsidy pressures through coordinated carbon–green certificate trading mechanisms. Full article

Amid intensifying global ESG regulations and the expanding influence of green finance, China’s digital economy policies have emerged as key institutional instruments for promoting corporate sustainability. Leveraging the implementation of the National Big Data Comprehensive Pilot Zone as a quasi-natural experiment, this study utilizes panel data of Chinese listed firms from 2009 to 2023 and applies multi-period Difference-in-Differences (DID) and Spatial DID models to rigorously identify the policy’s effects on corporate ESG performance. Empirical results indicate that the impact of digital economy policy is not exerted through a direct linear pathway but operates via three institutional mechanisms, enhanced information transparency, eased financing constraints, and expanded fiscal support, collectively constructing a logic of “institutional embedding–governance restructuring.” Moreover, disruptive technological innovation significantly amplifies the effects of the transparency and fiscal mechanisms, but exhibits no statistically significant moderating effect on the financing constraint pathway, suggesting a misalignment between innovation heterogeneity and financial responsiveness. Further heterogeneity analysis confirms that the policy effect is concentrated among firms characterized by robust governance structures, high levels of property rights marketization, and greater digital maturity. This study contributes to the literature by developing an integrated moderated mediation framework rooted in institutional theory, agency theory, and dynamic capabilities theory. The findings advance the theoretical understanding of ESG policy transmission by unpacking the micro-foundations of institutional response under digital policy regimes, while offering actionable insights into the strategic alignment of digital transformation and sustainability-oriented governance. Full article

This study evaluates the impact of digital systems and IT audit frameworks on tax performance and integrity within tax administrations. Using international data from organizations like the World Bank, OECD (Organisation for Economic Co-operation and Development), and IMF (International Monetary Fund), the research examines the relationship between tax revenue as a percentage of GDP, digital infrastructure, corruption perception, e-government development, and cybersecurity readiness. Quantitative analysis, including correlation, regression, and clustering methods, reveals a strong positive relationship between digital maturity, e-governance, and tax performance. Countries with advanced digital governance systems and robust IT audit frameworks, such as COBIT, tend to show higher tax revenues and lower corruption levels. The study finds that e-government development and anti-corruption measures explain over 40% of the variance in tax performance. Cluster analysis distinguishes between digitally advanced, high-compliance countries and those lagging in IT adoption. The findings suggest that digital transformation strengthens fiscal integrity by automating compliance and reducing human contact, which in turn mitigates bribery risks and enhances fraud detection. The study highlights the need for adopting international best practices to guide the digitalization of tax administrations, improving efficiency, transparency, and trust in public finance. Full article

In order to fulfill the commitment to the “dual carbon goal” at an early date, China has implemented a series of carbon control policies. However, the actual impact of these policy combinations on green innovation in Chinese cities remains unknown. Taking the implementation of the low-carbon pilot policy (LCP) and the carbon emission trading pilot policy (CET) as the research opportunity, this paper uses panel data from 276 prefecture-level cities and a multiple-period difference-in-differences (DID) model to explore the impact of carbon control policy combination on green innovation in China and their mechanisms. The results indicate the following: A single LCP or CET can significantly boost green innovation. However, the impact of cross-tool carbon control policy combination on green innovation is notably greater than that of a single policy, with a trend of increasing effectiveness over time. Even after a series of robustness tests, this conclusion remains valid. Heterogeneity analysis shows that the promotion effect is more significant in the eastern region and high-level administrative cities. The policy combination incentivizes green innovation through fiscal technology expenditure and public environmental awareness, focusing more on fostering strategic green innovation. Consequently, the Chinese government should tailor policy combinations to specific contexts, expand their implementation judiciously, and consistently drive forward green innovation. Full article

Research on ecosystem carbon sequestration services and ecological compensation is crucial for advancing carbon neutrality. As a public good, ecosystem carbon sequestration services inherently lead to externalities. Therefore, it is essential to consider externalities in the flow of sequestration services. However, few studies have examined intra- and inter-regional ecosystem carbon sequestration flows, making regional ecosystem carbon sequestration flows less comprehensive. Against this background, the research objectives of this paper are as follows. The flow of carbon sequestration services between Henan Province and out-of-province regions is studied. In addition, this study clarifies the beneficiary and supply areas of carbon sink services in Henan Province and the neighboring regions at the prefecture-level city scale to obtain a more systematic, comprehensive, and actual flow of carbon sequestration services for scientific and effective eco-compensation and to promote regional synergistic emission reductions. The research methodologies used in this paper are as follows. First, this study adopts a meta-coupling framework, designating Henan Province as the focal system, the Central Urban Agglomeration as the adjacent system, and eight surrounding provinces as remote systems. Regional carbon sequestration was assessed using net primary productivity (NEP), while carbon emissions were evaluated based on per capita carbon emissions and population density. A carbon balance analysis integrated carbon sequestration and emissions. Hotspot analysis identified areas of carbon sequestration service supply and associated benefits. Ecological radiation force formulas were used to quantify service flows, and compensation values were estimated considering the government’s payment capacity and willingness. A three-dimensional evaluation system—incorporating technology, talent, and fiscal capacity—was developed to propose a diversified ecological compensation scheme by comparing supply and beneficiary areas. By modeling the ecosystem carbon sequestration service flow, the main results of this paper are as follows: (1) Within Henan Province, Luoyang and Nanyang provided 521,300 tons and 515,600 tons of carbon sinks to eight cities (e.g., Jiaozuo, Zhengzhou, and Kaifeng), warranting an ecological compensation of CNY 262.817 million and CNY 263.259 million, respectively. (2) Henan exported 3.0739 million tons of carbon sinks to external provinces, corresponding to a compensation value of CNY 1756.079 million. Conversely, regions such as Changzhi, Xiangyang, and Jinzhong contributed 657,200 tons of carbon sinks to Henan, requiring a compensation of CNY 189.921 million. (3) Henan thus achieved a net ecological compensation of CNY 1566.158 million through carbon sink flows. (4) In addition to monetary compensation, beneficiary areas may also contribute through technology transfer, financial investment, and talent support. The findings support the following conclusions: (1) it is necessary to consider the externalities of ecosystem services, and (2) the meta-coupling framework enables a comprehensive assessment of carbon sequestration service flows, providing actionable insights for improving ecosystem governance in Henan Province and comparable regions. Full article

This paper critically examines the persistent limitations of spatial planning reforms in China in addressing urban–rural integration, despite significant and successive legislative and planning reforms. Through a historically grounded and institutionally informed analysis, the study traces the evolution of China’s planning regimes across three key phases—urban planning, urban–rural planning, and territorial spatial planning (TSP)—highlighting shifting policy logics and the enduring structural challenges that shape rural marginalization. Drawing on national planning documents and authors’ empirical insights from planning practice, the paper identifies four interrelated and persistent constraints: (1) cross-scalar and interdepartmental fragmentation in governance, (2) contradictions in the land system that restrict rural development rights, (3) fiscal dependence on land conversion that distorts planning priorities, and (4) technical and conceptual gaps that reduce rural planning to physicalist and exogenous interventions. The paper contributes by offering a periodized account of China’s rural planning reforms, situating these within global debates on rural marginalization, and evaluating the transformative potential of the TSP framework. It argues that achieving meaningful urban–rural integration requires a fundamental rethinking of planning as a developmental, rather than solely regulatory, practice—one that is territorially embedded, socially responsive, and functionally aligned with endogenous rural revitalization. Full article

Land Value Capture (LVC) is increasingly being emphasized as a key mechanism for financing mass transit systems, promoted as a sustainability-oriented policy tool amid tightening public budgets. China has adopted a development-led approach to value capture through the “Rail plus Property (R + P)” model, drawing inspiration from the Hong Kong experience. The Shenzhen Metro’s “R + P” strategy has been widely acclaimed as the key to its reputation as “the only profitable transit company in mainland China without subsidies.” This paper questions this assumption and argues that the Shenzhen model is neither sustainable nor replicable, as its past performance depended on two exceptional conditions: an ascending phase of a real-estate cycle and unique institutional concessions from the central state. To substantiate this argument, we contrast Shenzhen’s value capture strategy with that of Nanjing—a provincial capital operating under routine institutional conditions, with governance and spatial structures broadly reflecting the prevailing urban development model in China. Using a comparative framework structured around three key dimensions of LVC—urban governance, risk management, and the transit company’s shift toward real estate—this paper reveals how distinct urban political economies give rise to contrasting value capture approaches: one expansionary, prioritizing short-term profit and rapid scale-up while downplaying risk management (Shenzhen); the other conservative, shaped by institutional constraints and characterized by reactive, incremental adjustments (Nanjing). These findings suggest that while LVC instruments offer valuable potential as a funding source for public transit, their long-term viability depends on early institutional embedding that aligns spatial, fiscal, and political interests, alongside well-developed project planning and capacity support in real estate expertise. Full article

The integration of financial technology expenditures and green total factor productivity (GTFP) constitutes a critical impetus for sustainable economic advancement. This study employs provincial panel data from China (2012–2020) and uses the SBM model with undesirable outputs, the PVAR model, moderation effect analysis, and threshold regression to investigate the underlying mechanisms and threshold effects of financial technology expenditure on GTFP. The results show that (1) financial technology expenditure has a significant promoting effect on the growth of GTFP, with a coefficient of 0.614 (p < 0.05), indicating the need for further increases in fiscal investment in science and technology; (2) the effect of financial technology expenditure on GTFP varies across the eastern, central, and western regions of China, with stronger effects observed in the eastern region, suggesting that the government should formulate differentiated financial technology expenditure policies on the basis of local conditions; and (3) that educational investment and industrial upgrading play strong moderating roles in the impact of financial technology expenditure on GTFP, with interaction term coefficients of 0.059 (p < 0.05) and 0.206 (p < 0.1), respectively. Threshold analysis further reveals that the positive effect strengthens significantly once educational investment surpasses a log value of 9.3674 and industrial upgrading exceeds a ratio of 0.0814. However, currently, China’s education investment and industrial structure upgrading are still insufficient, necessitating further increases in education investment and promoting the transformation and upgrading of the industrial structure. Full article

This paper highlights the importance of accounting for both the maturity structure of government debt and the composition of fiscal instruments when studying the macroeconomic effects of fiscal policy. Using a dynamic stochastic general equilibrium (DSGE) model featuring a debt maturity structure and six exogenous fiscal shocks spanning both the expenditure and revenue sides, we show that long-maturity debt systematically weakens the expansionary effects of fiscal policy under dovish monetary policy, particularly in response to increases in government purchases, government investment, and capital income tax cuts, where long-term financing leads to the significant crowding-out of private activity. In contrast, short-term debt financing yields output multipliers that often exceed unity. The maturity structure also alters the relative efficacy of fiscal instruments: while labor income tax cuts produce the largest multipliers under short-term debt, government purchases become more potent under long-term debt financing. We also show that the stark difference between short- and long-term debt becomes muted under a hawkish monetary regime. Our results have important policy implications, suggesting that the maturity composition of public debt should be carefully considered in the design of fiscal policy, particularly in high-debt economies. Full article

Enhancing innovation capability can effectively promote the development of traditional industries. Based on Lewin’s behavioral model theory, this study investigated the relationship between industrial support policies and innovation behavior within traditional industries. Utilizing survey data collected from 152 traditional industrial enterprises in 2024 and employing structural equation modeling, the main findings are as follows: Industrial support policies can effectively alleviate the “innovation inertia” of traditional industries, with all policies being significant at the 1% confidence level. Among them, policies related to industry–university–research cooperation platforms have the most significant impact, with a standardized coefficient of 0.941, followed by fiscal and taxation policies (standardized coefficient: 0.846) and financial policies (standardized coefficient: 0.729). Innovation motivation acts as a mediating mechanism between industrial policies and innovation behavior. Industrial support policies accelerate the conversion of reserve-oriented patent portfolios into practical applications, helping to break through patent barriers and effectively alleviate innovation inertia. Consequently, the government should prioritize improving public services, and policy formulation needs to be oriented towards enhancing innovation efficiency. While ensuring industrial security, it is advisable to moderately increase competition to guide traditional industry market players towards thriving in competitive environments. Full article

Amid the escalating global climate crisis, the transition to sustainable energy systems has become imperative. As the world’s largest energy producer and consumer, China has established ambitious dual carbon targets, which present formidable challenges to urban energy systems that remain heavily reliant on conventional energy sources and exhibit inadequate renewable energy development. Drawing on complex adaptive systems theory, this study investigates the extent to which digital finance enhances urban energy resilience, examining both the underlying mechanisms and heterogeneous effects. Employing a multi-period difference-in-differences model with digital finance policies as a quasi-natural experiment, our analysis of panel data from 31 Chinese provinces (2016–2023) demonstrates that digital finance significantly enhances the resilience of urban energy systems and their three constituent subsystems. A mediation analysis reveals the pivotal role of innovative organizations, while machine learning techniques uncover nonlinear relationships moderated by marketization levels, fiscal energy allocations, and initial digital finance development. These findings provide critical insights for policymakers, financial institutions, and energy enterprises seeking to advance sustainable energy governance and foster financial innovation in the energy transition. Full article

This study presents a comparative benchmarking analysis of G20 nations’ agri-food competitiveness across five critical pillars: food security and nutrition, trade and geopolitics, environmental sustainability, fiscal regimes, and entrepreneurship support. Using a structured benchmarking framework with 13 performance indicators sourced from internationally recognized datasets, the research delivers a comprehensive evaluation of national agri-food systems. The analysis reveals significant disparities in transparency, policy coherence, and investment in innovation across member states. Countries such as the United States, Germany, and Australia emerge as leaders, driven by integrated policy frameworks, trade surpluses, and sustainable production practices. Others fall behind due to import dependence, fragmented governance, or weak innovation ecosystems. Canada performs consistently in trade metrics but is hindered by high emissions intensity, infrastructure constraints, and a lack of a cohesive national food strategy. Theoretically, this work contributes to the emerging field of agri-food system diagnostics by operationalizing a cross-pillar benchmarking methodology applicable at the national level. Practically, it offers policymakers a decision-support tool for identifying structural gaps and setting reform priorities. The framework enables governments, trade partners, and multilateral institutions to design targeted interventions aimed at boosting food system resilience, economic competitiveness, and sustainability in an era of rising geopolitical and environmental volatility. Full article

As global urbanization accelerates amidst compounding risks, comprehensive urban resilience assessment has emerged as a pivotal issue in optimizing risk governance pathways. Grounded in the Pressure–State–Response (PSR) theoretical framework, this study constructs a multidimensional evaluation system for comprehensive urban resilience. Through the integration of a combined weighting method and the TOPSIS model, we systematically measure resilience levels across 13 prefecture-level cities in Jiangsu Province, with the obstacle degree model employed to identify critical resilience constraints. The findings reveal significant spatial heterogeneity in regional resilience patterns. High-resilience cities establish positive feedback mechanisms through economic foundations, innovation-driven strategies, and institutional coordination. Conversely, low-resilience cities face multidimensional constraints, including industrial structure imbalance, inadequate social security systems, and infrastructure deficiencies. The resilience disparity stems from the coupling effects of systemic multidimensional elements, with three core obstacles identified: energy consumption and population pressure in the Pressure dimension, medical resource scarcity and innovation deficit in the State dimension, and fiscal expenditure inefficiency in the Response dimension. The study proposes strategic interventions, including fiscal structure optimization, cross-regional resource coordination enhancement, and innovation–translation mechanism improvement, to facilitate urban systems’ transformation from passive resistance to proactive adaptation. This research provides novel perspectives for analyzing complex system resilience evolution and offers scientific grounds for urban agglomeration risk prevention and sustainable development. Full article

In a global context characterized by budgetary pressures, aging populations, and accelerated economic transitions, the capacity of countries to mobilize stable and sustainable tax revenues represents a crucial pillar for maintaining macroeconomic stability and social cohesion. This research investigated the determinants of total tax revenues in the developed economies of the G7 group (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) during the period 2000–2022, employing both static and dynamic panel econometric approaches. The estimated model considered total tax revenues as the dependent variable, while the explanatory variables encompassed the main categories of government revenues: direct taxes (personal and corporate income), indirect taxes (consumption, trade, and other taxes), social contributions, grants, other non-tax revenues, and institutional quality indicators (regulatory quality and control of corruption). The empirical findings revealed that all tax components analyzed exert a positive and significant influence on total tax revenues, with particularly strong effects observed for consumption taxes, social contributions, and personal income taxes. Based on these results, the study provides policy recommendations aimed at diversifying revenue sources, balancing direct and indirect taxation, and broadening the tax base equitably. The study advances the literature on international taxation by offering an integrated and comparative analysis of the revenue structures in advanced economies, while also identifying relevant pathways for sustainable tax reforms in a dynamic global environment. Full article