The study of spatial econometrics has developed rapidly and has found wide applications in many different scientific fields,such as demography,epidemiology,regional economics,and psychology.With the deepening of...The study of spatial econometrics has developed rapidly and has found wide applications in many different scientific fields,such as demography,epidemiology,regional economics,and psychology.With the deepening of research,some scholars find that there are some model specifications in spatial econometrics,such as spatial autoregressive(SAR)model and matrix exponential spatial specification(MESS),which cannot be nested within each other.Compared with the common SAR models,the MESS models have computational advantages because it eliminates the need for logarithmic determinant calculation in maximum likelihood estimation and Bayesian estimation.Meanwhile,MESS models have theoretical advantages.However,the theoretical research and application of MESS models have not been promoted vigorously.Therefore,the study of MESS model theory has practical significance.This paper studies the quasi maximum likelihood estimation for matrix exponential spatial specification(MESS)varying coefficient panel data models with fixed effects.It is shown that the estimators of model parameters and function coefficients satisfy the consistency and asymptotic normality to make a further supplement for the theoretical study of MESS model.展开更多
The selection of fixed effects is studied in high-dimensional generalized linear mixed models(HDGLMMs)without parametric distributional assumptions except for some moment conditions.The iterative-proxy-based penalized...The selection of fixed effects is studied in high-dimensional generalized linear mixed models(HDGLMMs)without parametric distributional assumptions except for some moment conditions.The iterative-proxy-based penalized quasi-likelihood method(IPPQL)is proposed to select the important fixed effects where an iterative proxy matrix of the covariance matrix of the random effects is constructed and the penalized quasi-likelihood is adapted.We establish the model selection consistency with oracle properties even for dimensionality of non-polynomial(NP)order of sample size.Simulation studies show that the proposed procedure works well.Besides,a real data is also analyzed.展开更多
We consider the problem of variable selection for the fixed effects varying coefficient models. A variable selection procedure is developed using basis function approximations and group nonconcave penalized functions,...We consider the problem of variable selection for the fixed effects varying coefficient models. A variable selection procedure is developed using basis function approximations and group nonconcave penalized functions, and the fixed effects are removed using the proper weight matrices. The proposed procedure simultaneously removes the fixed individual effects, selects the significant variables and estimates the nonzero coefficient functions. With appropriate selection of the tuning parameters, an asymptotic theory for the resulting estimates is established under suitable conditions. Simulation studies are carried out to assess the performance of our proposed method, and a real data set is analyzed for further illustration.展开更多
This paper considers a semi-varying coefficient model for panel data with fixed effects,proposes the profile-likelihood-based estimators for the parametric and nonparametric components,and establishes convergence rate...This paper considers a semi-varying coefficient model for panel data with fixed effects,proposes the profile-likelihood-based estimators for the parametric and nonparametric components,and establishes convergence rates and asymptotic normality properties for both estimators.Simulation results show that the proposed estimators behave well in finite sample cases.展开更多
Objective To compare the preliminary clinical outcome between fixed platform and rotating high-flexion prosthesis following total knee replacement(TKR).Methods Form January 2007 to December 2009,68 patients with osteo...Objective To compare the preliminary clinical outcome between fixed platform and rotating high-flexion prosthesis following total knee replacement(TKR).Methods Form January 2007 to December 2009,68 patients with osteoarthritis of展开更多
A necessary condition for existence of any weakly consistent estimator is presented in nonlinear models with random effects. Under mild regularity conditions, the strong consistency and the asymptotic normality of the...A necessary condition for existence of any weakly consistent estimator is presented in nonlinear models with random effects. Under mild regularity conditions, the strong consistency and the asymptotic normality of the estimator are proved. The results of Breslow and Calyton(1993), Lee and Nelder(1996) are improved.展开更多
In this paper,a unified diagnostic method for the nonlinear models with random effects based upon the joint likelihood given by Robinson in 1991 is presented.It is shown that the case deletion model is equivalent to t...In this paper,a unified diagnostic method for the nonlinear models with random effects based upon the joint likelihood given by Robinson in 1991 is presented.It is shown that the case deletion model is equivalent to the mean shift outlier model.From this point of view,several diagnostic measures,such as Cook distance,score statistics are derived.The local influence measure of Cook is also presented. A numerical example illustrates that the method is available.展开更多
This paper presents a unified diagnostic method for exponential nonlinear models with random effects based upon the joint likelihood given by Robinson in 1991. The authors show that the case deletion model is equivale...This paper presents a unified diagnostic method for exponential nonlinear models with random effects based upon the joint likelihood given by Robinson in 1991. The authors show that the case deletion model is equivalent to mean shift outlier model. From this point of view, several diagnostic measures, such as Cook distance, score statistics are derived. The local influence measure of Cook is also presented. Numerical example illustrates that our method is available.展开更多
In this paper,we consider the statistical inference problems for the fixed effect and variance component functions in the two-way classification random effects model with skewnormal errors.Firstly,the exact test stati...In this paper,we consider the statistical inference problems for the fixed effect and variance component functions in the two-way classification random effects model with skewnormal errors.Firstly,the exact test statistic for the fixed effect is constructed.Secondly,using the Bootstrap approach and generalized approach,the one-sided hypothesis testing and interval estimation problems for the single variance component,the sum and ratio of variance components are discussed respectively.Further,the Monte Carlo simulation results indicate that the exact test statistic performs well in the one-sided hypothesis testing problem for the fixed effect.And the Bootstrap approach is better than the generalized approach in the one-sided hypothesis testing problems for variance component functions in most cases.Finally,the above approaches are applied to the real data examples of the consumer price index and value-added index of three industries to verify their rationality and effectiveness.展开更多
Over the past few decades,the Internet has rapidly diffused across China.The spread of the Internet has had a profound economic and social impact on Chinese rural areas.Existing research shows that Internet access sig...Over the past few decades,the Internet has rapidly diffused across China.The spread of the Internet has had a profound economic and social impact on Chinese rural areas.Existing research shows that Internet access significantly impacts agricultural production and improves smallholder farmers’income.Beyond these,the Internet can affect other dimensions of social welfare.However,research about the impact of Internet access on dietary quality in rural China remains scarce.This study utilizes multi-period panel data from Fixed Observation Point in rural China from 2009 to 2015 to estimate the impact of Internet access on dietary quality and food consumption of rural households and conducts a causal analysis.Regression models with time and household fixed effects allow robust estimation while reducing potential issues of unobserved heterogeneity.The estimates show that Internet access has significantly increased rural household dietary quality(measured by the Chinese Diet Balance Index).Further research finds that Internet access has increased the consumption of animal products,such as aquatic and dairy products.We also examine the underlying mechanisms.Internet access improves dietary quality and food consumption mainly through increasing household income and food expenditure.These results encourage the promotion of Internet access as a valuable tool for nutritional improvements,especially in rural areas.展开更多
Objectives This paper aims to investigate the effects of enrollment in the Ethiopian community-based health insurance(CBHI)scheme on household preventive care activities and the timing of treatment-seeking behavior fo...Objectives This paper aims to investigate the effects of enrollment in the Ethiopian community-based health insurance(CBHI)scheme on household preventive care activities and the timing of treatment-seeking behavior for illness symptoms.There is growing concern about the financial sustainability of CBHI schemes in developing countries.However,few empirical studies have identified potential contributors,including ex-ante and ex-post moral hazards.Methods We implement a household fixed-effect panel data regression model,drawing on three rounds of household survey data collected face to face in districts where CBHI scheme is operational and in districts where it is not operational in Ethiopia.Results The findings show that enrolment in CBHI does not significantly influence household behaviour regarding preventive care activities such as water treatment before drinking and handwashing before meals.However,CBHI significantly increases delay in treatment-seeking behaviour for diseases symptoms.Particularly,on average,we estimate about 4-6 h delay for malaria symptoms,a little above 4 h for tetanus,and 10-11 h for tuberculosis among the insured households.Conclusions While there is evidence that CBHI improve the utilization of outpatient or primary care services,our study suggests that insured members may wait longer before visiting health facilities.This delay could be partly due to moral hazard problems,as insured households,particularly those from rural areas,may consider the opportunity costs associated with visiting health facilities for minor symptoms.Overall,it is essential to identify the primary causes of delays in seeking medical services and implement appropriate interventions to encourage insured individuals to seek early medical attention.展开更多
In this review, we highlight some recent methodological and theoretical develop- ments in estimation and testing of large panel data models with cross-sectional dependence. The paper begins with a discussion of issues...In this review, we highlight some recent methodological and theoretical develop- ments in estimation and testing of large panel data models with cross-sectional dependence. The paper begins with a discussion of issues of cross-sectional dependence, and introduces the concepts of weak and strong cross-sectional dependence. Then, the main attention is primarily paid to spatial and factor approaches for modeling cross-sectional dependence for both linear and nonlinear （nonparametric and semiparametric） panel data models. Finally, we conclude with some speculations on future research directions.展开更多
While digital finance and renewable energy consumption(REC)are two timely issues,it remains unclear whether the former affects the latter,especially in developing economies.This paper examines the impact of digital fi...While digital finance and renewable energy consumption(REC)are two timely issues,it remains unclear whether the former affects the latter,especially in developing economies.This paper examines the impact of digital finance on China’s REC between 2011 and 2018 and explores the underlying mechanisms.Results show that digital finance,along with its coverage breadth and usage depth,significantly improved REC in China and that digital finance in the area of credit has had the most significant impact.Additionally,the results show that loan scale and income level are the main mediation variables,through which digital finance affects REC.The findings also suggest that economic growth and technological progress have increased REC in China,while carbon dioxide emissions have had no meaningful effect on this consumption.The results further indicate that policymakers must pay close attention to the role of digital finance when formulating policies on REC.To promote REC and environmental sustainability,developing economies like China should strengthen the breadth and depth of digital finance development,focus on the influence channels of digital finance,and promote economic growth and technological progress.展开更多
Payments for Ecosystem Services(PES)programs have been implemented in both developing and developed countries to conserve ecosystems and the vital services they provide.These programs also often seek to maintain or im...Payments for Ecosystem Services(PES)programs have been implemented in both developing and developed countries to conserve ecosystems and the vital services they provide.These programs also often seek to maintain or improve the economic wellbeing of the populations living in the corresponding(usually rural)areas.Previous studies suggest that PES policy design,presence or absence of concurrent PES programs,and a variety of socioeconomic and demographic factors can influence decisions of households to participate or not in the PES program.However,neighborhood impacts on household participation in PES have rarely been addressed.This study explores potential neighborhood effects on villagers'enrollment in the Grain-to-Green Program(GTGP),one of the largest PES programs in the world,using data from China's Fanjingshan National Nature Reserve.We utilize a fixed effects logistic regression model in combination with the eigenvector spatial filtering(ESF)method to explore whether neighborhood size affects household enrollment in GTGP.By comparing the results with and without ESF,we find that the ESF method can help account for spatial autocorrelation properly and reveal neighborhood impacts that are otherwise hidden,including the effects of area of forest enrolled in a concurrent PES program,gender and household size.The method can thus uncover mechanisms previously undetected due to not taking into account neighborhood impacts and thus provides an additional way to account for neighborhood impacts in PES programs and other studies.展开更多
In recent years, the international environment and conditions of China’s economic development have undergone profound and complex changes, but in the middle and long term, China’s economy has been maintaining a stab...In recent years, the international environment and conditions of China’s economic development have undergone profound and complex changes, but in the middle and long term, China’s economy has been maintaining a stable medium-high speed development. It is remarkable that population changes bring about changes in economic development;especially the aging of the population has a particularly significant impact on economic growth. Therefore, based on the inter-provincial panel data of 31 provinces and municipalities from 2011 to 2019, this paper mainly studies the impact of population change on economic growth by establishing a solid fixed effect model. The results show that there is a long-term equilibrium relationship between population structure and economic growth, and population structure has a significant positive impact on economic development. In addition, there are regional differences in the positive and significant relationship between the two.展开更多
This paper evaluated performance of motor insurance companies in Nigeria. The objectives were to determine the following: 1) significant effects of claims settlements on motor insurance firms’ earned premium;2) diffe...This paper evaluated performance of motor insurance companies in Nigeria. The objectives were to determine the following: 1) significant effects of claims settlements on motor insurance firms’ earned premium;2) differences in managerial/technological capabilities among the companies and 3) effects of policy (or time effect) on insurance firms’ output within the study </span><span style="font-family:Verdana;">period. Panel data obtained for this study comprised operational data on</span><span style="font-family:Verdana;"> premium earned and direct claims settlement by these companies over a period </span><span style="font-family:Verdana;">of six (6) years. Using panel data statistical models, we found that direct</span><span style="font-family:Verdana;"> claims settlement negatively affected insurance companies’ earned premium. Also, </span><span style="font-family:Verdana;">significant differences in technological and managerial capabilities were </span><span style="font-family:Verdana;">found to exist among the companies, though only one company exhibited this heterogeneity. Besides, there were no policy impacts (or time effect) on vehicle insurance firms’ output in the study period. Policy implications of the results were discussed.展开更多
Sustained economic growth is a key source of poverty alleviation and growth that is driven more by productivity than the quantity of factors of production is useful for long-term inclusive growth and poverty reduction...Sustained economic growth is a key source of poverty alleviation and growth that is driven more by productivity than the quantity of factors of production is useful for long-term inclusive growth and poverty reduction,which is needed in Sub-Saharan Africa.The paper sought to investigate the relative roles of capital and labour as factors of production and their productivity in the growth process of Sub-Saharan Africa using annual data from 2000 to 2018.A production function was estimated,following the construction of data for capital stock using the perpetual inventory method.The production function was estimated by applying the instrumental variables(IV)to the two-way fixed effects model,using clustered standard errors.The results show that the share of capital and labour in production were 0.14 and 0.86 respectively.Capital,labour and their productivity contributed 24.7%,51.1%and 24.2%respectively to real GDP growth during the period 2001 to 2018.Further efforts in building the productivity of capital and labour are therefore required in Sub-Saharan Africa.Building good governance,the legal framework,political stability,expanded access to quality education and affordable quality healthcare,greater openness towards technological progress are therefore imperative.展开更多
Base on panel data of manufacturing and high-tech industry companies which discoursed R ＆ D expenditure in financial statements from 2004 to 2011, this paper studies the relationship between debt financing and corpor...Base on panel data of manufacturing and high-tech industry companies which discoursed R ＆ D expenditure in financial statements from 2004 to 2011, this paper studies the relationship between debt financing and corporate R ＆ D expenditure under different grow opportunities by using the robust fixed effects that Daniel Hoechle proposed m 2007. The results show that there is not a ＂increasing first, decreasing later＂ non-linear relationship but a ＂double negative＂ relationship between debt level and corporate R ＆ D expenditure. And the ＂double negative＂ relationship has a different mechanism in different growth companies.展开更多
The panel dataset which covered the socio-economic data of 31 provinces （municipalities and autonomous region） in China from 2000-2007 was used to do empirical analysis on the effect of abolishing agricultural taxes...The panel dataset which covered the socio-economic data of 31 provinces （municipalities and autonomous region） in China from 2000-2007 was used to do empirical analysis on the effect of abolishing agricultural taxes on farmers＇ income by referring to the fixed effect estimation method. It found that the abolition of agricultural taxes increased farmer＇s net income per capita by 2%. Combining with the results of empirical analysis, related policy suggestions were put forward to increase farmers＇ income.展开更多
基金supported by the Innovation Project of Guangxi Graduate Education(YCSW2021073).
文摘The study of spatial econometrics has developed rapidly and has found wide applications in many different scientific fields,such as demography,epidemiology,regional economics,and psychology.With the deepening of research,some scholars find that there are some model specifications in spatial econometrics,such as spatial autoregressive(SAR)model and matrix exponential spatial specification(MESS),which cannot be nested within each other.Compared with the common SAR models,the MESS models have computational advantages because it eliminates the need for logarithmic determinant calculation in maximum likelihood estimation and Bayesian estimation.Meanwhile,MESS models have theoretical advantages.However,the theoretical research and application of MESS models have not been promoted vigorously.Therefore,the study of MESS model theory has practical significance.This paper studies the quasi maximum likelihood estimation for matrix exponential spatial specification(MESS)varying coefficient panel data models with fixed effects.It is shown that the estimators of model parameters and function coefficients satisfy the consistency and asymptotic normality to make a further supplement for the theoretical study of MESS model.
基金Supported by National Natural Science Foundation of China(Grant No.11671398)State Key Lab of Coal Resources and Safe Mining(China University of Mining and Technology)(Grant No.SKLCRSM16KFB03)the Fundamental Research Funds for the Central Universities in China(Grant No.2009QS02)。
文摘The selection of fixed effects is studied in high-dimensional generalized linear mixed models(HDGLMMs)without parametric distributional assumptions except for some moment conditions.The iterative-proxy-based penalized quasi-likelihood method(IPPQL)is proposed to select the important fixed effects where an iterative proxy matrix of the covariance matrix of the random effects is constructed and the penalized quasi-likelihood is adapted.We establish the model selection consistency with oracle properties even for dimensionality of non-polynomial(NP)order of sample size.Simulation studies show that the proposed procedure works well.Besides,a real data is also analyzed.
基金Supported by National Natural Science Foundation of China(Grant Nos.11471029,11101014 and 11301279)the Beijing Natural Science Foundation(Grant No.1142002+3 种基金the Science and Technology Project of Beijing Municipal Education Commission(Grant No.KM201410005010)the Natural Science Foundation of the Jiangsu Higher Education Institutions of China(Grant No.12KJB110016)CERG Grant from the Hong Kong Research Grants Council(Grant No.HKBU 202012)FRG Grant from Hong Kong Baptist University(Grant No.FRG2/12-13/077)
文摘We consider the problem of variable selection for the fixed effects varying coefficient models. A variable selection procedure is developed using basis function approximations and group nonconcave penalized functions, and the fixed effects are removed using the proper weight matrices. The proposed procedure simultaneously removes the fixed individual effects, selects the significant variables and estimates the nonzero coefficient functions. With appropriate selection of the tuning parameters, an asymptotic theory for the resulting estimates is established under suitable conditions. Simulation studies are carried out to assess the performance of our proposed method, and a real data set is analyzed for further illustration.
基金supported by the National Natural Science Foundation of China under Grant No.11101452the Natural Science Foundation Project of CQ CSTC under Grant No.2012jjA00035+2 种基金the National Basic Research Program of China under Grant No.2011CB808000the National Social Science Foundation of China under Grant No.12XTJ001the Natural Science Foundation Project of CTBU of China under Grant No.1352001
文摘This paper considers a semi-varying coefficient model for panel data with fixed effects,proposes the profile-likelihood-based estimators for the parametric and nonparametric components,and establishes convergence rates and asymptotic normality properties for both estimators.Simulation results show that the proposed estimators behave well in finite sample cases.
文摘Objective To compare the preliminary clinical outcome between fixed platform and rotating high-flexion prosthesis following total knee replacement(TKR).Methods Form January 2007 to December 2009,68 patients with osteoarthritis of
文摘A necessary condition for existence of any weakly consistent estimator is presented in nonlinear models with random effects. Under mild regularity conditions, the strong consistency and the asymptotic normality of the estimator are proved. The results of Breslow and Calyton(1993), Lee and Nelder(1996) are improved.
基金The research project supported by NSFC(1 9631 0 4 0 ) and NSFJ
文摘In this paper,a unified diagnostic method for the nonlinear models with random effects based upon the joint likelihood given by Robinson in 1991 is presented.It is shown that the case deletion model is equivalent to the mean shift outlier model.From this point of view,several diagnostic measures,such as Cook distance,score statistics are derived.The local influence measure of Cook is also presented. A numerical example illustrates that the method is available.
文摘This paper presents a unified diagnostic method for exponential nonlinear models with random effects based upon the joint likelihood given by Robinson in 1991. The authors show that the case deletion model is equivalent to mean shift outlier model. From this point of view, several diagnostic measures, such as Cook distance, score statistics are derived. The local influence measure of Cook is also presented. Numerical example illustrates that our method is available.
基金supported by National Social Science Foundation of China(21BTJ068)。
文摘In this paper,we consider the statistical inference problems for the fixed effect and variance component functions in the two-way classification random effects model with skewnormal errors.Firstly,the exact test statistic for the fixed effect is constructed.Secondly,using the Bootstrap approach and generalized approach,the one-sided hypothesis testing and interval estimation problems for the single variance component,the sum and ratio of variance components are discussed respectively.Further,the Monte Carlo simulation results indicate that the exact test statistic performs well in the one-sided hypothesis testing problem for the fixed effect.And the Bootstrap approach is better than the generalized approach in the one-sided hypothesis testing problems for variance component functions in most cases.Finally,the above approaches are applied to the real data examples of the consumer price index and value-added index of three industries to verify their rationality and effectiveness.
基金This study was supported in part by the National Natural Science Foundation of China(71973136 and 72061147002)the 2115 Talent Development Program of China Agricultural University.
文摘Over the past few decades,the Internet has rapidly diffused across China.The spread of the Internet has had a profound economic and social impact on Chinese rural areas.Existing research shows that Internet access significantly impacts agricultural production and improves smallholder farmers’income.Beyond these,the Internet can affect other dimensions of social welfare.However,research about the impact of Internet access on dietary quality in rural China remains scarce.This study utilizes multi-period panel data from Fixed Observation Point in rural China from 2009 to 2015 to estimate the impact of Internet access on dietary quality and food consumption of rural households and conducts a causal analysis.Regression models with time and household fixed effects allow robust estimation while reducing potential issues of unobserved heterogeneity.The estimates show that Internet access has significantly increased rural household dietary quality(measured by the Chinese Diet Balance Index).Further research finds that Internet access has increased the consumption of animal products,such as aquatic and dairy products.We also examine the underlying mechanisms.Internet access improves dietary quality and food consumption mainly through increasing household income and food expenditure.These results encourage the promotion of Internet access as a valuable tool for nutritional improvements,especially in rural areas.
基金The authors acknowledge the financial support of the Dutch Research Council(NWO-WOTRO)(Grant No.W07.45.103.00)and the support of D.P.Hoijer Fonds,Erasmus Trustfonds,Erasmus University Rotterdam.
文摘Objectives This paper aims to investigate the effects of enrollment in the Ethiopian community-based health insurance(CBHI)scheme on household preventive care activities and the timing of treatment-seeking behavior for illness symptoms.There is growing concern about the financial sustainability of CBHI schemes in developing countries.However,few empirical studies have identified potential contributors,including ex-ante and ex-post moral hazards.Methods We implement a household fixed-effect panel data regression model,drawing on three rounds of household survey data collected face to face in districts where CBHI scheme is operational and in districts where it is not operational in Ethiopia.Results The findings show that enrolment in CBHI does not significantly influence household behaviour regarding preventive care activities such as water treatment before drinking and handwashing before meals.However,CBHI significantly increases delay in treatment-seeking behaviour for diseases symptoms.Particularly,on average,we estimate about 4-6 h delay for malaria symptoms,a little above 4 h for tetanus,and 10-11 h for tuberculosis among the insured households.Conclusions While there is evidence that CBHI improve the utilization of outpatient or primary care services,our study suggests that insured members may wait longer before visiting health facilities.This delay could be partly due to moral hazard problems,as insured households,particularly those from rural areas,may consider the opportunity costs associated with visiting health facilities for minor symptoms.Overall,it is essential to identify the primary causes of delays in seeking medical services and implement appropriate interventions to encourage insured individuals to seek early medical attention.
基金Supported by the National Natural Science Foundation of China(71131008(Key Project)and 71271179)
文摘In this review, we highlight some recent methodological and theoretical develop- ments in estimation and testing of large panel data models with cross-sectional dependence. The paper begins with a discussion of issues of cross-sectional dependence, and introduces the concepts of weak and strong cross-sectional dependence. Then, the main attention is primarily paid to spatial and factor approaches for modeling cross-sectional dependence for both linear and nonlinear （nonparametric and semiparametric） panel data models. Finally, we conclude with some speculations on future research directions.
基金Research of Universities in Jiangsu Province(2021SJA1269)the Major Program Project of the National Social Science Fund of China(No:19ZDA055)+2 种基金Zhejiang Provincial Natural Science Foundation of China(Q22G037055)Major projects of Humanities and Social Sciences in Zhejiang Province(21096054-F)Zhejiang Sci-Tech University Scientific Research Fund(No:21092117-Y).
文摘While digital finance and renewable energy consumption(REC)are two timely issues,it remains unclear whether the former affects the latter,especially in developing economies.This paper examines the impact of digital finance on China’s REC between 2011 and 2018 and explores the underlying mechanisms.Results show that digital finance,along with its coverage breadth and usage depth,significantly improved REC in China and that digital finance in the area of credit has had the most significant impact.Additionally,the results show that loan scale and income level are the main mediation variables,through which digital finance affects REC.The findings also suggest that economic growth and technological progress have increased REC in China,while carbon dioxide emissions have had no meaningful effect on this consumption.The results further indicate that policymakers must pay close attention to the role of digital finance when formulating policies on REC.To promote REC and environmental sustainability,developing economies like China should strengthen the breadth and depth of digital finance development,focus on the influence channels of digital finance,and promote economic growth and technological progress.
基金National Science Foundation under the Dynamics of Coupled Natural and Human Systems Program,No.DEB-1212183,No.BCS-1826839Financial and Research Support from San Diego State University,Population Research Infrastructure Program,No.P2C,No.HD050924。
文摘Payments for Ecosystem Services(PES)programs have been implemented in both developing and developed countries to conserve ecosystems and the vital services they provide.These programs also often seek to maintain or improve the economic wellbeing of the populations living in the corresponding(usually rural)areas.Previous studies suggest that PES policy design,presence or absence of concurrent PES programs,and a variety of socioeconomic and demographic factors can influence decisions of households to participate or not in the PES program.However,neighborhood impacts on household participation in PES have rarely been addressed.This study explores potential neighborhood effects on villagers'enrollment in the Grain-to-Green Program(GTGP),one of the largest PES programs in the world,using data from China's Fanjingshan National Nature Reserve.We utilize a fixed effects logistic regression model in combination with the eigenvector spatial filtering(ESF)method to explore whether neighborhood size affects household enrollment in GTGP.By comparing the results with and without ESF,we find that the ESF method can help account for spatial autocorrelation properly and reveal neighborhood impacts that are otherwise hidden,including the effects of area of forest enrolled in a concurrent PES program,gender and household size.The method can thus uncover mechanisms previously undetected due to not taking into account neighborhood impacts and thus provides an additional way to account for neighborhood impacts in PES programs and other studies.
文摘In recent years, the international environment and conditions of China’s economic development have undergone profound and complex changes, but in the middle and long term, China’s economy has been maintaining a stable medium-high speed development. It is remarkable that population changes bring about changes in economic development;especially the aging of the population has a particularly significant impact on economic growth. Therefore, based on the inter-provincial panel data of 31 provinces and municipalities from 2011 to 2019, this paper mainly studies the impact of population change on economic growth by establishing a solid fixed effect model. The results show that there is a long-term equilibrium relationship between population structure and economic growth, and population structure has a significant positive impact on economic development. In addition, there are regional differences in the positive and significant relationship between the two.
文摘This paper evaluated performance of motor insurance companies in Nigeria. The objectives were to determine the following: 1) significant effects of claims settlements on motor insurance firms’ earned premium;2) differences in managerial/technological capabilities among the companies and 3) effects of policy (or time effect) on insurance firms’ output within the study </span><span style="font-family:Verdana;">period. Panel data obtained for this study comprised operational data on</span><span style="font-family:Verdana;"> premium earned and direct claims settlement by these companies over a period </span><span style="font-family:Verdana;">of six (6) years. Using panel data statistical models, we found that direct</span><span style="font-family:Verdana;"> claims settlement negatively affected insurance companies’ earned premium. Also, </span><span style="font-family:Verdana;">significant differences in technological and managerial capabilities were </span><span style="font-family:Verdana;">found to exist among the companies, though only one company exhibited this heterogeneity. Besides, there were no policy impacts (or time effect) on vehicle insurance firms’ output in the study period. Policy implications of the results were discussed.
文摘Sustained economic growth is a key source of poverty alleviation and growth that is driven more by productivity than the quantity of factors of production is useful for long-term inclusive growth and poverty reduction,which is needed in Sub-Saharan Africa.The paper sought to investigate the relative roles of capital and labour as factors of production and their productivity in the growth process of Sub-Saharan Africa using annual data from 2000 to 2018.A production function was estimated,following the construction of data for capital stock using the perpetual inventory method.The production function was estimated by applying the instrumental variables(IV)to the two-way fixed effects model,using clustered standard errors.The results show that the share of capital and labour in production were 0.14 and 0.86 respectively.Capital,labour and their productivity contributed 24.7%,51.1%and 24.2%respectively to real GDP growth during the period 2001 to 2018.Further efforts in building the productivity of capital and labour are therefore required in Sub-Saharan Africa.Building good governance,the legal framework,political stability,expanded access to quality education and affordable quality healthcare,greater openness towards technological progress are therefore imperative.
文摘Base on panel data of manufacturing and high-tech industry companies which discoursed R ＆ D expenditure in financial statements from 2004 to 2011, this paper studies the relationship between debt financing and corporate R ＆ D expenditure under different grow opportunities by using the robust fixed effects that Daniel Hoechle proposed m 2007. The results show that there is not a ＂increasing first, decreasing later＂ non-linear relationship but a ＂double negative＂ relationship between debt level and corporate R ＆ D expenditure. And the ＂double negative＂ relationship has a different mechanism in different growth companies.
文摘The panel dataset which covered the socio-economic data of 31 provinces （municipalities and autonomous region） in China from 2000-2007 was used to do empirical analysis on the effect of abolishing agricultural taxes on farmers＇ income by referring to the fixed effect estimation method. It found that the abolition of agricultural taxes increased farmer＇s net income per capita by 2%. Combining with the results of empirical analysis, related policy suggestions were put forward to increase farmers＇ income.
