Search Results (508)

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

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 the context of growing global climate change awareness and intensifying environmental degradation, technological innovation in renewable energy has become a key realization method for sustainable development. This paper uses data samples from 30 provinces, municipalities, and autonomous regions in China (excluding Tibet, Hong Kong, Macao, and Taiwan due to data availability) from 2007–2022, constructs an SFA model to measure carbon emission efficiency, and innovatively investigates the U-shaped impact of technological innovation in renewable energy on carbon emission efficiency along with the moderating effects of informatization level and fiscal decentralization. The empirical findings reveal the following: (1) Technological innovation in renewable energy demonstrates a U-shaped impact on carbon emission efficiency, with a negative impact before inflection point 2.596605 and a positive impact after the inflection point. (2) The informatization level plays a positive regulating role in the impact of technological innovation in renewable energy toward carbon emission efficiency, while fiscal decentralization exerts a negative regulating effect. (3) The impact of technological innovation in renewable energy concerning carbon emission efficiency varies depending on regional differences, industrial structure levels, and technological innovation levels in renewable energy. The conclusions of this paper are helpful for promoting the development of technological innovation in renewable energy, improving carbon emission efficiency, and advancing sustainable socio-economic development. 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

Understanding the carbon emission efficiency (CEE) of maize production and its determinants is critical to supporting China’s dual-carbon goals and advancing sustainable agriculture. This study employs a super-efficiency slack-based measure model (SBM) to evaluate the CEE of five major maize-producing regions in China from 2001 to 2022. Kernel density estimation and the Dagum Gini coefficient are used to analyze spatiotemporal disparities, while a geographically and temporally weighted regression (GTWR) model explores the underlying drivers. Results indicate that the national average maize CEE was 0.86, exhibiting a “W-shaped” fluctuation with turning points in 2009 and 2016. From 2001 to 2015, the Southwestern Mountainous Region led with an average efficiency of 0.76. Post-2015, the Northern Spring Maize Region emerged as the most efficient area, reaching 0.90. Efficiency levels have generally become more concentrated across regions, though the Southern Hilly and Northwest Irrigated Regions showed higher volatility. Inter-regional differences were the primary source of overall CEE disparity, with an average annual contribution of 46.66%, largely driven by the efficiency gap between the Northwest Irrigated Region and other areas. Spatial heterogeneity was evident in the impact of key factors. Agricultural mechanization, cropping structure, and environmental regulation exhibited region-specific effects. Rural economic development and agricultural fiscal support were positively associated with CEE, while urbanization had a negative correlation. These findings provide a theoretical foundation and policy reference for region-specific emission reduction strategies and the green transition of maize production in China. Full article

Economic policy uncertainty is an important macroeconomic risk factor that can have direct effects on investment decisions, growth dynamics, and public finance. In particular, its potential impact on tax revenue is critical in terms of fiscal sustainability. This study investigates the Granger-causal relationship between economic policy uncertainty, total tax revenue, and economic growth in G7 economies over the 1997–2021 period, applying symmetric and asymmetric panel causality tests. The empirical findings revealed evidence of causality between economic policy uncertainty and tax revenue and between economic growth and economic policy uncertainty. In asymmetric analyses where the effects of positive and negative shocks were separated, the direction of causal relationships differed between countries. These results imply that asymmetric effects vary by country. Overall, the empirical findings suggest that enhancing transparency and predictability in tax systems could play a vital role in reducing economic policy uncertainty and thus positively affect tax revenue performance and fiscal resilience. 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 study analyzes the evolution of Pakistan’s energy policies from 1990 to 2024, documenting their transition from a singular focus on generation capacity to an integrated approach prioritizing renewable energy and efficiency. Through a systematic literature review of 110 initially screened studies, with 50 meeting the inclusion criteria and 22 selected for in-depth analysis, we evaluated policy effectiveness and identified implementation barriers. Our methodology employed predefined criteria focusing on energy efficiency, environmental sustainability, and climate impact, utilizing the Web of Science and Scopus databases. Early policies like the National Energy Conservation Policy (1992) and the Energy Policy (1994) emphasized energy security through generation capacity expansion while largely neglecting renewable sources and efficiency improvements. The policy landscape evolved in the 2000s with the introduction of renewable energy incentives and efficiency initiatives. However, persistent challenges include short-term planning, inconsistent implementation, and fossil fuels dependence. Recent framework like the Alternative and Renewable Energy Policy (2019) and the National Energy Efficiency and Conservation Plan (2020–2025) demonstrate progress toward sustainable energy practices. However, institutional, financial, and regulatory barriers continue to constrain effectiveness. We recommend that Pakistan’s energy strategy prioritize the following: (1) long-term planning horizon; (2) enhanced fiscal incentives; and (3) strengthened institutional support to meet global energy security and climate resilience standards. These measures would advance Pakistan’s sustainable energy transition while supporting both energy security and environmental objectives. 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

To achieve climate goals and promote clean energy, China has introduced preferential VAT policies to promote the development of renewable energy power generation industries, but their actual impact on corporate profitability remains underexplored. This study innovatively applies a DID approach, enhanced with PSM and dynamic modeling, to evaluate the causal effects of VAT incentives on firm ROE. Using panel data from 98 listed power generation companies between 2010 and 2024, this study distinguishes treatment effects across the wind, solar, and hydrogen sectors, revealing significant heterogeneity. Unlike prior studies, it further investigates time-lagged impacts and fiscal efficiency indicators to assess policy sustainability. Results show that VAT incentives significantly enhance ROE for wind and solar firms, while the hydrogen sector exhibits weaker responses. These findings not only confirm the effectiveness of targeted tax incentives but also offer new insights for refining fiscal policies to better support sector-specific transitions toward renewable energy. This study provides empirical evidence for the design of China’s fiscal energy policy to maximize the growth of the renewable energy sector. More broadly, this study provides lessons for global green transition policies, illustrating how well-designed fiscal incentives can support sustainable energy development worldwide. Full article

Zimbabwe’s economy has experienced extreme exchange rate fluctuations over the past decades, driven by persistent macroeconomic instability and episodes of hyperinflation. The instability in exchange rates can significantly impact trade balances, inflation rates, and overall economic resilience. Understanding the impact of exchange rate volatility (ERV) on international trade is crucial in such a context. This study investigates the impact of exchange rate volatility (ERV) on international trade in Zimbabwe, addressing a literature gap related to its unique economic challenges and hyperinflation. Using the Generalized Autoregressive Conditional Heteroscedasticity (GARCH) model on data from 1990 to 2023, the study finds a negative relationship between ERV and international trade. The analysis suggests that inflation reduces imports, but foreign direct investment (FDI) and balance of payments (BOP) increase export uncertainties. This study recommends optimal fiscal and monetary management to mitigate ERV and enhance trade stability, offering insights for policymakers to strengthen Zimbabwe’s trade resilience amid exchange rate fluctuations. Full article

This study examines whether China’s rapid spread of internet and mobile information technologies has translated into greater household support for government air-quality programs. Using nationally representative data from the Chinese General Social Survey (2018), this study estimates the causal impact of digital media use on residents’ willing to pay (WTP) each month for one additional “good-air” day. Ordinary least squares shows that individuals who rely primarily on the internet or mobile push services are willing to contribute CNY 1.9–2.7 more—about 43 percent above the sample mean of CNY 4.41. To address potential endogeneity, we instrumented digital media adoption using provincial computer penetration; two-stage least squares yielded roughly CNY 10.5, confirming a causal effect. Mechanism tests showed that digital access lowers complacency about local air quality, strengthens anthropogenic attribution of pollution, and heightens the moral norm that economic sacrifice is legitimate, jointly mediating the rise in WTP. Heterogeneity analyses revealed stronger effects among high-income households and renters, while extended tests showed that (i) the impact intensifies when the promised environmental gain rises from one to three or five clean-air days, (ii) attention to international news can crowd out local WTP, and (iii) digital media raise not only the likelihood of paying but also the amount paid among existing contributors. The findings suggest that targeted digital outreach—especially messages with concrete, locally salient goals—can substantially enlarge the fiscal base for air-quality initiatives, helping China advance its ecological-civilization and dual-carbon objectives. Full article

This study evaluates the current Spanish insurance framework for catastrophic flood risk, administered by the Consorcio de Compensación de Seguros (CCS), based on nationwide loss data reported by the CCS for the period 1996–2020. The analysis of historical claims data enables a clear differentiation between frequent, low-cost events and infrequent, high-impact catastrophes. While the CCS has fulfilled a critical role in post-disaster compensation, the findings highlight the parallel need for ex ante risk mitigation strategies. The study proposes a more efficient, two-tier risk coverage model. Events whose impacts can be managed through standard insurance mechanisms should be underwritten by private insurers using actuarially fair premiums. In contrast, events with catastrophic implications—due to their scale or financial impact—should be addressed through general solidarity mechanisms, centrally managed by the CCS. Such a risk segmentation would improve the financial sustainability of the system and create fiscal space for prevention-oriented incentives. The current design of the CCS scheme may generate moral hazard, as flood exposure is not explicitly priced into the premium structure. Empirical findings support a shift towards a more transparent, incentive-aligned model that combines collective risk sharing with individual risk responsibility—an essential balance for effective climate adaptation and long-term resilience. Full article

The implementation of a carbon tax in the transportation sector aims to reduce carbon emissions and encourage the transition to sustainable mobility amid increasing urbanization. The transportation sector is one of the largest contributors of carbon emissions in Indonesia, requiring effective policies to reduce its environmental impacts. Therefore, this study aims to find a more optimal carbon tax formula that is in accordance with Indonesia’s socio-economic conditions. The approach used includes analysis of transportation emission data, the economic impact of different carbon tax schemes, and tax revenue allocation strategies to support green infrastructure and sustainable transportation. The results of the study indicate that an adaptive carbon tax formula in the transportation sector is able to balance the economic burden, emission reduction targets, social justice, behavioral changes, and revenue allocation for green infrastructure, thus ensuring a just and sustainable transition. A progressive carbon tax, based on vehicle emission levels and fuel types, can encourage the transition to low-emission vehicles without excessively burdening low-income communities. With this approach, carbon tax policy functions not only as a fiscal instrument but also as a transformative strategy in creating an environmentally friendly and equitable transportation system. Full article