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With "Kyoto Protocol" gradually take force, carbon trading was born and developed rapidly. In contrast to prior studies on China's carbon emissions trading, we conduct a systematic research. First of all, we analyze the status of China's carbon trading. Second, we explore the production function model for relevant carbon trading and analyze the advantages and disadvantages of the carbon...
Over-development of fictitious economy may produce bubble capital and bubble burst can induce financial crisis. The Granger cause of the representative variable of real economy to the variables of fictitious economy in China is tested and the bubble expansion rate of each period of China's fictitious economy is calculated by the quarterly data from the second quarter of 1998 to the forth quarter of...
In this paper, we study an order-driven stock market where agents have heterogeneous estimates of the fundamental value of the risky asset. The agents are budget-constrained. Their value-based trading strategy in which buys or sells depend on whether the price of the asset is below or above its risk-adjusted fundamental value. We assume that investors' optimal demand for the risky asset depends on...
This paper constructs an economic growth theory in which economic growth is driven by knowledge accumulation and endogenously determined by the evolutionary dynamics of division of labor between scientific research and material production. Distinguished from the existing growth models based on representative individual's intertemporal choice, this paper formulates economy as an evolutionary process...
Due to the rapidly rising ratio of dependence on foreign trade, China's economic growth risk is increasing continuously. This paper analyzes the effect of widening gap of income distribution in china by establishing a simple and applicable theoretical model. The widening gap of income distribution results in shortage of domestic demand, speedy increasing of investment and the internal structural imbalance...
Abstract-Approval standard of electricity price is currently the focus of discussion in the national wind power industry. How to determine an appropriate electricity tariff to promote the sustainable and healthy development of wind power is the urgent problem that wind power company need to solve. In this paper, a generation cost assessment model for wind power is established, taking the cost accounting...
In this paper, hierarchical holographic modeling (HHM) is used to identify the risks in transport PPPs under the perspectives of contractual nature of PPPs, institution and cultural environment, and inadequate supervision. Then, we propose that the traditional financial audit approach can not effectively control risk on PPPs, and furthermore, we give an analytic framework of audit supervision for...
In China, private placement fund has a major impact on the operation of stock market. Due to the characteristics of private placement fund and the lack of legislation, there are a number of risk factors in the operating of private placement fund. This article introduces the operating state of private placement fund in China, and analyzes the characteristics of the risk. In the last part, on the basis...
In view of Institution theory, this paper studied the impact of institution environment of host country on the outward direct investment of China. Based on the data of our outward direct investment to 99 countries, this paper used principal components analysis to establish the institutional index of host countries. This paper finds out the institutional index of host countries has a significant positive...
In this paper we apply a Data Envelopment Analysis (DEA) for measuring changes in total carbon emission efficiency between 1986 and 2008 across Chinese regions and then estimate driving forces of regional carbon emission performance (MCPI). A long-run relationship has been detected and the coefficients, estimated using Kao's method, are statistically significant mostly. Our results indicate the positive...
Most empirical studies in China and abroad concluded that: Foreign direct investment had positive influence on the technical progress of Chinese local enterprises. However, the conclusion was drew without considering the influence of changes in institution on Chinese total factor productivity. This paper puts the variable which representing changes in institution into econometric model, it's found...
Since Chinese enterprises act as the suppliers in the global value chain, the backward technology spillover dominate the technology spillover of foreign direct investment (FDI) in China. The paper conducts an empirical analysis into the impacts on Chinese productivity of the backward technology spillover of FDI in the global value chain, by introducing the related variables into the regression model...
Balance of payments is one of the main economic goals for an open economy. This paper uses the unit root test, co-integration test and VAR model to make an empirical analysis on the relationship between China's current account, capital account and GDP from 1982 to 2009. The results showed that the co-integration relationship between the current account and GDP, GDP does Granger cause current account...
This paper designs a system of 27 indicators to measure regional intellectual capital. Based on this system, we collected the date of these indictors of the year 2006 from all 29 provinces & cities of China; and we estimated the intellectual capital level of the 29 regions by the method of Principal components analysis and Cluster analysis. It is showed that intellectual capital is strong in eastern...
This is an empirical analysis of the regional differences of the influencing factors of technological innovation based on panel data of China's 30 provinces. It highlights not only R&D investment, but also government support, financial support, technology spillover effects of FDI, transition of regional economy, human capital and other factors. The empirical results show that, R&D investment...
This paper explores the relationship between institutional ownership and corporate governance in China. In order to study the role of institutional investors in corporate governance, the author first studies the relation between institutional ownership and corporate performance. The empirical results show that institutional ownership is not only positively correlated with current corporate performance,...
English education has become a key issue in education in China. This article establishes a model for cost of English education investment, analyzes the current situation of English education investment in China, and finds out the problems in English education. In this article, the author presents several measures like extensive mobilization of multiple subjects to involve in English education investment,...
Using the dataset of 35 large and medium cities in China from 1996 through 2007, this paper examines the interaction relationship between housing investment, housing credit and economic growth in China. First of all, the results show that the economic growth has a greater impact on the housing investment than the housing investment. Second, the housing purchase has a greater influence on the economic...
In order to verify the causality for the regional financial development and the economic growth in Shannxi, the multiple regression model, the co-integration analysis and Granger causality test is used in this paper. Empirical results show that the financial development in Shannxi hindered the economic growth from 1993 to 2008. The cause consists in the low efficiency of resources in financial intermediaries...
Real estate demand is an important factor to affect the real estate balanced and healthy development, an accurate analysis of the macro factors and the real estate demand relationship could give the government, land agents and house purchasers more effective services. In this paper, it uses factor analysis, system dynamics feedback diagram and multiple regression methods of econometrics. By use of...
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