School of Economics and Management, Hainan Normal University, Haikou, China.
School of Economics, Henan University, Kaifeng, China.
Environ Sci Pollut Res Int. 2023 May;30(22):61766-61777. doi: 10.1007/s11356-023-26252-6. Epub 2023 Mar 18.
China has remained a growth engine for the global economy for the last several years. In this study, we assess the impact of COVID-19 on China's business and economic conditions; employing the quantile-on-quantile (QQ) regression and the quantile causality approaches. These econometrics batteries suit our research postulation, as they are capable to delineate underlying asymmetries across the whole distribution, based on which we can infer whether the response of China's business and economic conditions towards COVID-19 is heterogenous or homogenous. Utilizing the novel business and economic conditions measures, we observed that COVID-19 had initially disrupted both business and economic conditions in China. However, they showcased recovery over time. Our in-depth analysis allowed us to infer that the effect of COVID-19 on China's business and economic conditions is heterogeneous across different quantiles, and there is reliable evidence of asymmetry. The outcomes of quantile causality in mean and variance corroborate our primary estimations. These findings educate policymakers, companies, and other stakeholders to understand the nuances of China's business and economic conditions vis-a-vis COVID-19 in the short-run and as time elapsed.
中国在过去几年一直是全球经济的增长引擎。在本研究中，我们评估了 COVID-19 对中国商业和经济状况的影响；采用分位数-分位数（QQ）回归和分位数因果关系方法。这些计量经济学电池适合我们的研究假设，因为它们能够根据整个分布描绘潜在的不对称性，据此我们可以推断中国商业和经济状况对 COVID-19 的反应是异质的还是同质的。利用新的商业和经济状况衡量标准，我们观察到 COVID-19 最初扰乱了中国的商业和经济状况。然而，随着时间的推移，它们显示出了复苏。我们的深入分析使我们能够推断出 COVID-19 对中国商业和经济状况的影响在不同分位数上是异质的，并且存在可靠的非对称性证据。均值和方差的分位数因果关系的结果证实了我们的主要估计。这些发现教育政策制定者、公司和其他利益相关者了解中国商业和经济状况在短期和随时间流逝方面与 COVID-19 的细微差别。
