Influence of FDI characteristics on high-quality development of China's economy

Foreign ownership, subjective willing, and internal control level

Foreign shareholders are essential in the capital market. The study on A-share listed firms from 2012 to 2021 examines the impact of foreign ownership on internal control and its transmission effect. Using text analysis and machine learning methods, we construct a variable named "internal control willingness" to explore the impact of subjective willingness. The findings indicate that foreign shareholding significantly enhances internal control quality, with a more pronounced effect observed in samples demonstrating a more positive internal control willingness. Moreover, foreign shareholders contribute to the invested firm's sustainable development by enhancing internal control quality. Further research demonstrates that the positive impact of foreign shareholding is more significant in firms with legal foreign shareholders, highly competitive industries, and sound legal environments. These findings can aid host country firms in more efficiently leveraging foreign resources and provide empirical evidence for opening up China's capital market and formulating foreign investment regulations.

Study on the path of high-quality development of the construction industry and its applicability

Exploring the influencing factors and enhancement paths of high-quality development of the construction industry is crucial for promoting sustainable development of the construction industry. Based on the concepts of "five development", this paper takes the construction industry data of 29 provinces (autonomous regions and municipalities) in China as a sample, utilizes comprehensively the combination method of NCA and fsQCA to build a high-quality development driving model of the construction industry, and explores the coupling effect of factors, like the level of scientific and technological innovation, structural degree, precast building model, external market vitality, resources, and environment, on the development of the industry, revealing the path of high-quality development of the construction industry and analyze its applicability. These findings demonstrate that: (1) The level of scientific and technological innovation, the degree of structure, and the vitality of the external market are the core conditions, and a single factor does not constitute the necessary conditions for the high-quality development of the construction industry; (2) There are three paths for the high-quality development of the construction industry, among which the number of representative cases of linkage development led by openness innovation coordination is the largest, and has strong applicability; (3) There are two non-high-quality development paths in the construction industry, and there is a non-simple opposition relationship with the three high-quality development paths in the construction industry.

Does the transition to low-carbon energy alleviate urban-rural energy inequality? The case of China

This paper aims to investigate whether China can reduce urban-rural energy inequality during its transition to low-carbon energy. Using data from 30 Chinese provinces between 2006 and 2019, we employ the system generalized method of moments (SYS-GMM) to investigate the correlation between low-carbon energy transition (LET) and urban-rural energy inequality. Furthermore, to investigate the mechanism, this study also considers energy service accessibility and industrial structure upgrading. The results of the study show that the degree of LET in China is increasing but with uneven spatial distribution. Moreover, LET is effective in reducing urban-rural energy inequality in China. Specifically, 1 % increase in LET corresponds to 0.045 % reduction in the urban-rural energy inequality index. Additionally, energy service accessibility and industrial structure upgrading are identified as effective channels for LET to mitigate urban-rural energy inequality. Furthermore, our study demonstrates that the alleviating impact of LET on energy inequality is more significant in regions where LET and urban-rural energy inequality levels are high. Drawing on our research results, we suggest policy recommendations to encourage the adoption of low-carbon energy sources and diminish urban-rural energy inequality.

Coordination between scientific and technological innovation and the high-quality development of Baijiu industry: The coupling and decoupling perspective

The Baijiu industry is a significant contributor to both the food industry and the light industry. Its high tax characteristics effectively promote the sustainable development of the regional economy. First, the evaluation index system of scientific and technological innovation (STI) and high-quality development of Baijiu industry (HQDBI) were constructed. The entropy-improved CRITIC method was used to measure the weights. Second, the coordination relationship and evolution trend of STI and HQDBI were explored using the coupling coordination model and the Tapio decoupling model. Then, the transfer law and key influencing factors were further investigated using the Markov chain and grey correlation, respectively. The main contribution is the dynamic evolution of the coupling and decoupling relationships from the perspective of multiple Baijiu provinces, and deeply depicts the coordination relationship and evolutionary trends of STI and HQDBI. The results show that: the spatial distribution of the coupling coordination degree shows high values in the east-west and low values in the north-south characteristics. In 2021, a pattern of coordinated development in Baijiu provinces has emerged along the Yangtze River basin. The decoupling state is mainly strong decoupling, but it remains poor in Shanxi. The coordination process is unstable and difficult to achieve leapfrog development. Coordination, sustainability and innovation environment have a greater impact on the coordination of subsystems.

Investigating the unparalleled effects of economic growth and high-quality economic development on energy insecurity in China: A provincial perspective

China has changed its focus from traditional high-speed economic growth to high-quality economic development (HQED) and the implementation of environmentally friendly practices. This transition can have parallel or unparallel impacts on energy insecurity (EIS). In this regards, HQED, inter Alia, is crucial in mitigating EIS and combating the energy crisis. Our study explores the impact of economic growth (EG) and HQED on EIS using the provincial panel data of China for the period 2011-2017. From the perspective of comparative analysis, the results reveal that HQED reduces EIS while EG increases it. The robustness checks indicate that industrial structure (IS) has a negative impact on EIS, whereas industrial structure upgrading (ISU) and green innovation (GI) have a positive influence. This implies that IS contributes to an increase in EIS, whereas ISU and GI result in a decrease in EIS. In addition, the analysis reveals that digital financial inclusion (DFI) exhibits a significant positive relation with EIS, albeit occasionally a negative but insignificant link. The policy implication is that the government should stimulate policies to promote HQED which reduces the EIS.

Regional differences and dynamic evolution of high-quality development in service industry: A case study of the Chengdu-Chongqing economic circle

The high-quality development of service industry has become an important engine for promoting sustainable economic development. This paper first constructed the evaluation index system of high-quality development of service industry, based on panel data from 2005 to 2020. Second, Kernel density, Markov chain and Dagum Gini coefficient were used to represent the regional differences and dynamic evolution of service industry, and the Koo method was used to explore the characteristics of spatial agglomeration. Finally, social network analysis was used to identify core indicators. The study found that: (1) From 2005 to 2020, the overall level of service industry first decreases and then increases, with Chengdu and Chongqing leading other cities. (2) The development of service industry in the CCEC has large spatial differences, mainly due to inter-regional differences. (3) The level of spatial agglomeration is less variable, with high agglomeration mainly in Chengdu. (4) Indicators such as the level of human capital are the core factors of its high-quality development. This study is of great theoretical and practical significance for the optimization and upgrading of service industry in the CCEC and the synergetic development of the region.

The impact of population aging on FDI: A panel data analysis based on 27 segments in China's manufacturing industry

Foreign Direct Investment (FDI) is an important part of China's new "double-cycle" development pattern. Among the many factors affecting FDI, will the aging population have an impact on manufacturing, the key industry for FDI? This paper examines the direct and indirect effects of an aging population on FDI using panel data from 27 manufacturing sub-industries in China between 2005 and 2020. It is found that (1) the deepening of the population's aging negatively affects FDI inflows and this result continues to hold after a series of robustness tests. (2) Using labor quantity and labor cost as mediating variables, it is found that the population's aging indirectly affects FDI by reducing labor quantity and increasing labor cost. (3) The heterogeneity analysis study finds that the deepening of the population's aging significantly inhibits FDI in labor-intensive and capital-intensive industries among manufacturing sub-industries, and the inhibitory effect on FDI in technology-intensive industries is not significant. This study provides meso-evidence to support the findings of existing studies and provides suggestions and insights for the government to formulate relevant policies to actively cope with aging.

Spatial impacts of the intercity flow of long stay international visitors based on mobile phone data in Yangtze River Delta, China

The intercity daily flow of long stay international visitors (LSIV) reflects the economic globalisation and regional integration of a region. We made the first attempt to use mobile phone data to identify international visitors who stayed longer than one month in the Yangtze River Delta (YRD) region in 2019, analysed the spatial patterns of LSIV, and revealed the impact factors associated with the daily intercity flow of LSIV. We discussed spatial dependence using multiscale geographically weighted regression (MGWR), and performed cluster analysis to understand the combination effects. The results show that enterprises have the largest effect, AQI and administrative hierarchy have relatively low effects, and income, imports and exports do not have any significant effect. Overall, the economically developed eastern regions of the YRD region are more attractive for daily travel by LSIV, with the Shanghai metropolitan area being the most attractive. Our findings provide new insights into the relationship between the intercity daily flow of LSIV and the urban economy and society in the delta region to help suggest planning recommendations to enhance the globalisation development strategy and provide a better environment for international visitors in the delta region.

Assessing the influence of energy transition on economic-social growth: the case of China

In recent years, because of the one-sided interpretation of the nexus between the green & low-carbon energy transition and the high-quality economic-social growth, some over-idealized due-oriented judgments have led to failures in theories or deviations from practices. It is necessary and typical to select the panel data of 30 provinces in China from 2010 to 2020 to demonstrate that nexus, since China plays a different role in both climate change and global energy security. This paper defines and measures both the high-quality economic-social growth and the green & low-carbon energy transition efficiency. After analyzing the structure characteristics of energy transition, it also discusses the impact of the transition efficiency on the high-quality growth. The results indicate that the inflection point from quantitative to qualitative change in the regional high-quality growth has not yet arrived, while the developed regions and the developing regions are still grappling with pronounced problems of imbalance and insufficiency. As far as now, the energy transition efficiency in the energy resource centers is much higher than that in the energy load centers. The provinces with a characteristic of energy supply-demand equilibrium have seamlessly shifted from the Introduction stage of green & low-carbon development to the Growth stage. Both the decrease in energy intensity and the increase in renewable share are able to promote high-quality economic-social development obviously; however, the reduction of per capita carbon emission cannot yield the expected positive externality in a short run.

High-frequency monitoring of China's green growth-at-risk

With industrialization and urbanization, China faces enormous challenges from energy security and environmental issues. To address these challenges, it is imperative to establish a green accounting system for economic growth and to measure the uncertainty of China's green GDP (GGDP) growth from a risk management perspective. With this in mind, we follow the idea of growth-at-risk (GaR) to propose the concept of green GaR (GGaR) and extend it to the mixed-frequency data environment. Specifically, we first measure China's annual GGDP using the System of Environmental Economic Accounting (SEEA), then construct China's monthly green financial index by a mixed-frequency dynamic factor model (MF-DFM), and finally monitor China's GGaR from 2008M1 to 2021M12 with the mixed data sampling-quantile regression (MIDAS-QR) method. The main findings are as follows: First, the proportion of China's GGDP to traditional GDP gradually increases from 81.97% in 2008 to 89.34% in 2021, which illustrates that the negative environmental externalities caused by China's economic growth are gradually decreasing. Second, the high-frequency GGaR has favorable predictive performance and is significantly superior to the common-frequency GGaR at most quantiles. Third, the high-frequency GGaR has good nowcasting performance, and its 90% and 95% confidence intervals include true value for all prediction horizons. Furthermore, it can provide early warning of economic downturns through probability density prediction. Overall, our main contribution lies in constructing a quantitative assessment and high-frequency monitoring of China's GGDP growth risk, which provides an effective tool for investors and companies to predict risk, and a reference for the Chinese government to better formulate sustainable development strategies.

Spatial differentiation and driving factors of the high-quality development of undertakings for the aged of China

BACKGROUND

Promoting the high-quality development (HQD) of undertakings for the aged is an important action to proactively respond to the rapid population aging in China. This study analyzes spatial differentiation and driving factors of the HQD of China's undertakings for the aged.

METHODS

Based on a quantitative indicator system consisting of old-age social security, elder care services, health care service and older adults' social participation, the HQD levels of 31 Chinese provincial administrative regions during 2013-2019 are measured by using the entropy weight method. Spatial panel regression models are used to analyze the impact of population aging, economic development and digital technology on the HQD of undertakings for the aged.

RESULTS

The comprehensive level of the HQD slightly increased from 0.212 to 2013 to 0.220 in 2019, and the overall level was low. The HQD of the eastern region was the highest (0.292), followed by the western region (0.215), and the central region was the lowest (0.151). The high-high cluster type was mainly distributed in the eastern region; the low-low cluster type was mainly distributed in the western and central regions. Economic development and digital technology have significant positive effects while population aging has significant negative effects on the HQD of undertakings for the aged.

CONCLUSION

There is a significantly spatial differentiation in the HQD of China's undertakings for the aged. In order to promote the HQD of undertakings for the aged, it is necessary to identify development gaps through making HQD evaluation and to focus on the indicators that are critical in maintaining sustainable economic development and to develop digital technology in order to get rid of those gaps.

Does environmental degradation matter for poverty? Clarifying the nexus between FDI, environmental degradation, renewable energy, education, and poverty in Morocco and Tunisia

Poverty is the curse for sustainable and equitable development worldwide by detreating environmental sustainability, economic instability, and inequality. However, as a remedy for poverty reduction, researchers over the past decade have examined the key macro determinants and established positive associations, implying the contributory role in poverty reduction. The study explores the environmental, energy, education, and foreign direct investment (FDI) effects on poverty reduction in Morocco and Tunisia from 1991 to 2020. We employed autoregressive distributed lagged (ARDL) and nonlinear ARDL frameworks to document the explanatory variables' elasticity on poverty reduction in both the long- and short-run horizons. According to linear assessment, the study documented that education, energy, and FDI support poverty reduction. At the same time, the cost of environmental degradation has a detrimental effect on poverty augmentation. Referring to asymmetric assessment, the study established a long-run asymmetric association between asymmetric shocks of education, FDI, and energy with poverty. For directional association, the study has implemented a casualty test with the Fourier TY causality test and revealed a bidirectional association between education and poverty, and energy and poverty. Moreover, the unidirectional casualty was unveiled between FDI and poverty, and poverty and environment.

Income inequality, carbon emissions, and green development efficiency

Income inequality affects not only social well-being, health, and carbon emissions but also the strategy for green development in China. Based on the panel data of 205 cities in China from 2010 to 2020, a panel model with partial linear functional coefficient is used to analyze and test the relationship between income inequality, carbon emissions, and green development efficiency under different regional economic development levels. The empirical results show that the impact of income inequality on carbon emissions and green development efficiency is significant. The worsening of income inequality could aggravate carbon emissions, but the effect of income inequality on carbon emissions shows an increase-decrease-flattening with the continuous improvement of regional economic development. In terms of affecting the green development efficiency, the effect of income inequality on the efficiency of green development presents an inverted U shape. However, the number of cities where income inequality has an inhibitory effect on carbon emissions and green development efficiency has increased over time, and the impact of income inequality in a few cities on green development efficiency is not significant. These findings provide new insights into the understanding of shared prosperity and the strategy of carbon peaking and carbon neutralization in China.

Evaluation and Impact Mechanism of High-Quality Development in China's Coastal Provinces

With economic expansion having moderated to a "new normal" pace, the eastern coastal provinces have been given a new historical task of high-quality development and become a window and frontier of China's high-quality development. By designing and optimizing an index system of high-quality development levels and using the entropy-TOPSIS method, the study selected 21 indicators, include economic vitality, residents' living standards, innovation efficiency and green development, and took China's eastern coastal provinces as an example to study the characteristics of spatial-temporal variations in the high-quality development level from 2010 to 2020. Then, the study used the obstacle degree model to explore the factors that are obstacles to high-quality development. The results show that the high-quality development of the eastern coastal provinces presents an "up-down-up" fluctuation, with an increase of 40.1%. In particular, the development level of the residents' living standards dimension is higher, and the high-quality development level of each province shows different degrees of growth and gradually tends to balanced development, with the high-quality development of Shanghai, Jiangsu Province and Zhejiang Province in a dominant position. The spatial pattern of high-quality development in the study areas shows a spatial distribution pattern of "high in the east and low in the west, high in the north and low in the south", in which the bipolar spatial effect of the innovation efficiency dimension is becoming more and more prominent, while the regional synergistic development effect of the residents' living standard dimension is more obvious, and the high-quality development spatial pattern shows a "core-periphery" structure, and there is a path-dependent effect in time change, and agglomeration is produced by trickle-down effect in space. The obstacles to residents' living standards are high, and the main obstacle factor has gradually changed from insufficient output in innovation to a reduction in the scale of foreign trade. In addition, the problems of unreasonable industrial structure and shortage of per capita public cultural resources still exist. In provinces with a high-quality development level and a relatively developed economy, the biggest obstacle factors are economic vitality and residents' living standards. In provinces with a low level of high-quality development and a relatively backward economy, the biggest obstacle factors are green development and innovation efficiency, and there are both similarities and differences in the main obstacle factors among provinces.

Evaluation of industrial development quality and analysis of influencing factors in Xi'an, China

Industry is the lifeblood of the national economy, and it is the inevitable course of sustainability for China to promote the high-quality development of industry. A theoretical framework of industrial development quality (IDQ) was constructed, and 32 influencing factors were selected based on complex system theory. The IDQ in Xi'an from 2004 to 2019 was evaluated, and the influencing mechanisms of each IDQ factor were analyzed through an integrated maximum generalized information entropy (MGIE)-self-organizing feature mapping (SOFM) neural network-decision-making trial and evaluation laboratory (DEMATEL)-interpretive structural modeling (ISM) approach. The results show that the IDQ in Xi'an is on the rise, but the development of internal subsystems is uneven, with the technology subsystem contributing the most and the social subsystem contributing the least. There is a multi-layer hierarchical structure among the influencing factors of IDQ, and the multi-layer structure model can be divided into 10 layers. The first layer is the investment intensity of industrial pollution control, which is the most direct factor that affects IDQ. The tenth layer is the industrial wastewater discharge intensity, industrial waste gas emission intensity, water consumption per unit of industrial added value, highway density, and energy consumption per unit of industrial added value, which are the root factors affecting IDQ. This study can provide a theoretical basis and reference for the promotion of high-quality industrial development.

Linking shadow economy and CO2 emissions in Nigeria: Exploring the role of financial development and stock market performance. Fresh insight from the novel dynamic ARDL simulation and spectral causality approach

First and foremost, the present study seeks to traverse the informal sector characterized by a shadow economy in the presence of financial development, economic growth, and stock market performance on environmental pollution in Nigeria from 1981 to 2019. The dynamic autoregressive distributed lag (DARDL) approach was used to measure the short- and long-run elasticities, while spectral causality is applied to categorize the causal directions. Findings from the study revealed that the structural break unit root test revealed that all variables are stationary at first difference. The ARDL bound test confirmed the existence of long-run association among the used variables. The ARDL long-run results reveal that economic growth, financial development, and stock market performance are significantly responsible for carbon emission in Nigeria, while the shadow economy significantly improves environmental quality in Nigeria. Findings from the spectral causality results show a unidirectional causal relationship between financial development, economic growth, trade, stock market performance, and shadow economy to carbon emission in Nigeria. The empirical findings of this study provide some perceptive policy recommendations to overcome the adverse effect of carbon emissions in the environment.

Coupling Coordination Analysis of the Ecology and Economy in the Yellow River Basin under the Background of High-Quality Development

The concept of high-quality development has become the current theme of China’s economic construction. High-quality development requires maintaining a healthy and cyclical approach to economic development, which is a challenge in the original development approach. Yet, a great deal of evidence suggests that there is a strong interrelationship between economic development and the ecological environment, and developing a method to quantify this interrelationship is important for studying the extent of high-quality development. Here, we propose a new indicator system using the coupling degree model and the coupling coordination degree model to assess the coupled coordination of economic development and the ecological environment in the Yellow River basin as a whole and in each province. We found that: (1) the economic development and ecological health of the Yellow River basin exhibit a slowly increasing trend; (2) the coupling degree of the economic development and ecological environment is high, indicating that the interaction between the economy and ecology is very strong; and (3) the increasing degree of coupling and coordination reflects the trend of continuous improvement and coordination in the relationship between the economy and ecological environment, and the level of high-quality development in the basin has continuously increased. The results of this study indicate that to continue to strengthen the high-quality development in the Yellow River basin, the contradiction between the economy and ecology should be alleviated, and coordinated development of both should be achieved.

Does the Responsibility System for Environmental Protection Targets Enhance Corporate High-Quality Development in China?

In 2017, China made an ambitious statement of high-quality development (HQD) with which to realize the goals of sustainability proposed by the United Nations. Our paper sheds new light on how the corporate high-quality development is affected by the responsibility system for environmental protection targets using a sample of energy-intensive firms from 2003 to 2018. We calculate the indexes for corporate high-quality development using entropy weighting for the five dimensions: efficiency, innovation, openness, greenness, and social responsibility. Then, we develop a difference-in-differences model to reveal that the responsibility system for environmental protection targets significantly dampens high-quality development of corporations, as the estimated coefficient is −0.0420 with a t-statistic of −2.9384. In contrast with private firms, the high-quality development of state-owned firms shows no significant correlation with environmental policy constraints. The efficiency of capital allocation by corporations mediates the effects of responsibility for environmental protection targets on high-quality development. Our study suggests several policy implications: first, understand the connotation of a high-quality development system, and formulate diversified regulatory policies. Second, the responsibility system for environmental protection targets in China should be implemented steadily within the firm’s abilities. Next, the high-quality development of private firms should generate great attention. Finally, corporate internal governance should be designed to improve high-quality development.

Comprehending the environmental regulation, biased policies and OFDI reverse technology spillover effects: a contingent and dynamic perspective

Technology spillovers have the substantial effect on the industrial structure in emerging economies especially from OFDI (Outward Foreign Direct Investment). This research aims to examines the issue on how environmental regulation and biased policies can more effectively promote the OFDI reverse technology spillover effect, specifically the technology spillovers. By classifying the key industries mentioned in the '12th Five-Year Plan' and '13th Five-Year Plan', this research uses panel data from 2010 to 2019 obtained from provincial OFDI in China and utilizes difference in difference (DID) model and threshold regression approach to validate the analysis. The results show that the key industrial policy is favorable to the local OFDI reverse technology spillover. From the outlook of economic significance, the industrial policy increases the regional OFDI reverse technology spillover by 0.133%. Findings of our study further reveals that the environmental regulation and biased policy effectively promote the regional OFDI reverse technology spillover with certain stability. This study findings will be beneficial for policy makers to stimulate the reverse technology spillover impact of local OFDI more effectively from three aspects such as regional marketization level, innovation ability and financial structure.

Can technology-driven cross-border mergers and acquisitions promote green innovation in emerging market firms? Evidence from China

Emerging markets face severe ecological and environmental problems in periods of economic and political transition. The existing literature analyses the impact of technology on environmental benefits and the role of technology on the green innovation of enterprises, mostly from the perspective of technology spillover in enterprises in mature markets. Based on a sample of 229 Chinese cross-border mergers and acquisitions (M&As), this paper explores the role of technology-driven cross-border M&As (TDC M&As) in green innovation, finding that TDC M&As have a significant promoting effect on green innovation. A higher degree of ownership concentration positively promotes the relationship between TDC M&As and green innovation in the enterprise. This paper divides enterprises into state-owned enterprises (SOEs) and political connection enterprises, with the nature of SOEs negatively affecting the relationship between TDC M&As and green innovation, the nature of political connections significantly promoting the relationship. Similarly, formal institutional distance negatively interacts with TDC M&As to affect the green innovation of enterprises, while informal distance interacts positively with TDC M&As. This paper has important implications for emerging market enterprises in realising the transformation of the mode of economic growth and achieving harmonious development between enterprises and the environment.

The impact of environmental regulations on export trade at provincial level in China: evidence from panel quantile regression

Based on panel data from 30 provinces in China from 2008 to 2017, this paper constructs a quantile regression econometric model to analyze whether China's environmental regulation has an impact on export trade and to verify whether the Porter hypothesis has been valid in China in recent years. The results show that in the short term, environmental regulations have a restraining effect on export trade, while in the long run, due to the existence of innovation efficiency, environmental regulations will change from having a restraining effect to a promoting effect on export trade. Strict environmental regulations will reduce the production cost of Chinese products, further improve the export competitiveness of Chinese enterprises, and promote export trade. The empirical results verify the conclusion that the Porter hypothesis is confirmed in China. The following three suggestions are proposed for China's exports to promote the win-win of China's green development and export trade: promote the realization of international and domestic double circulation, avoid becoming "pollution shelters" and support technological innovation in environmental protection industries.

Study on the Coupling Coordination and Spatial Correlation Effect of Green Finance and High-Quality Economic Development—Evidence from China

The article aims to study the coupling coordination and spatial correlation effects of green finance (GF) and high-quality economic development (HQED) in 30 Chinese provinces. The index system of GF and HQED is constructed by selecting relevant index data from 2007 to 2017. The index of GF and HQED is measured by the entropy value method. Next, the coupling coordination degree (CCD) and spatial association strength are calculated based on the index using the coupling coordination degree model and the gravity model. Then the driving factors of the CCD between GF and HQED are analyzed by using geographic detectors. Finally, the spatial association network is constructed and its robustness is studied. The research results show that the coupling coordination degree between GF and HQED in each province is generally low, with strong regional heterogeneity, and the coupling coordination degree shows a trend of decay from the eastern region to the western region, but the western region has more room for development. Green credit, green, coordination, and sharing are the strong driving factors of the CCD between GF and HQED. The network of spatial association between GF and HQED in each province is gradually tightened, making the western peripheral provinces more closely connected with the eastern provinces through the intermediate node provinces. The network robustness of GF and HQED is more influenced by provinces with higher node degree values. Accordingly, the article proposes that China should continuously improve relevant GF policies, environmental disclosure systems, enhance green innovation technology and guide private capital to enter the GF market.

The role of remittance inflow and renewable and non-renewable energy consumption in the environment: Accounting ecological footprint indicator for top remittance-receiving countries

This study examines the impact of remittance inflow and foreign direct investment on ecological footprint in top ten remittance-receiving counties in the presence of economic growth and renewable and non-renewable energy under the framework of environmental Kuznets curve (EKC) hypothesis over the period of 1990-2018 by employing the continuously updated fully modified (CUP-FM) and the continuously updated bias-corrected (CUP-BC) estimators. The results show that remittance inflow, foreign direct investment, and non-renewable energy utilization affect the ecological footprint positively while renewable energy utilization negatively impacts on ecological footprint. This study also supports the pollution haven hypothesis and inverted U-shaped EKC hypothesis. The turning point obtained from long-run regression was found to be approximately $1368.65 outside of the sample period. Besides, the results are robust to various robustness analyses that we have executed for inspection of the reliability of our main findings. Finally, this study presents important policy implications with respect to the top remittance-receiving countries.

Impact of globalization on CO2 emissions based on EKC hypothesis in developing world: the moderating role of human capital

In the last 3 decades, developing economies continuously have increased their manufacturing industries with an impressive growth rate. Rising the trend of globalization, these underdeveloped economies are receiving economic growth at the cost of environmental degradation. In this context, this study investigates the impact of globalization and human capital on carbon emissions (CO₂) in the 78 developing economies from 1990 to 2016. Our findings based on robust system generalized method of moments (GMM) indicate that human capital and political globalization significantly reduce environmental degradation while economic, social, and overall globalization decrease the environmental quality. Furthermore, our empirical results support the inverted U-shaped environmental Kuznets curve (EKC) hypothesis. However, globalization (without interactive term with human capital) appears to have no significant association with CO₂ emissions, while (with an interactive term) it appears to have a significant negative influence on environmental quality. Moreover, our results are robust to various robustness checks; I have performed for scrutiny the consistency of our findings. This study also offers useful policy implications for stakeholders, policymakers, and governments for promoting environmental sustainability.

The role of remittance inflow and renewable and non-renewable energy consumption in the environment: Accounting ecological footprint indicator for top remittance-receiving countries

This study examines the impact of remittance inflow and foreign direct investment on ecological footprint in top ten remittance-receiving counties in the presence of economic growth and renewable and non-renewable energy under the framework of environmental Kuznets curve (EKC) hypothesis over the period of 1990-2018 by employing the continuously updated fully modified (CUP-FM) and the continuously updated bias-corrected (CUP-BC) estimators. The results show that remittance inflow, foreign direct investment, and non-renewable energy utilization affect the ecological footprint positively while renewable energy utilization negatively impacts on ecological footprint. This study also supports the pollution haven hypothesis and inverted U-shaped EKC hypothesis. The turning point obtained from long-run regression was found to be approximately $1368.65 outside of the sample period. Besides, the results are robust to various robustness analyses that we have executed for inspection of the reliability of our main findings. Finally, this study presents important policy implications with respect to the top remittance-receiving countries.

Total Factor Productivity and High-Quality Economic Development: A Theoretical and Empirical Analysis of the Yangtze River Economic Belt, China

This paper focuses on the total factor productivity (TFP) and high-quality economic development in China by examining 11 Chinese provinces and cities in the Yangtze River Economic Belt from 2007 to 2018. We use the Solow residual method to calculate the TFP growth rate of the 11 provinces and cities. Based on the panel data, we have analyzed the influencing factors of TFP theoretically and empirically from the overall region and upstream region, and midstream region and downstream region, respectively. The regression results show that: (1) The whole characteristics generally show the TFP growth trend of the upstream region, midstream region and downstream region are consistent with that of the overall region, and the growth rate of TFP slows down gradually. Meanwhile the differences in TFP growth between the upstream region, midstream region and downstream region show an increase at first and then a decrease. (2) Regarding the influencing factors, there are differences in the direction and extent of the impact of each factor such as the level of openness, R&D investment, industrial structure, government expenditure and human capital on the TFP of the overall region, upstream region, midstream region and downstream region. (3) Based on the results of the theoretical and empirical analysis, we have proposed a series of measures for the sustainable high-quality development of the Yangtze River Economic Belt.

Spatiotemporal Differentiation and Driving Force Analysis of the High-Quality Development of Urban Agglomerations along the Yellow River Basin

The ecological protection and high-quality development (HQD) of the Yellow River Basin (YRB) have been promoted as national strategies. An urban agglomeration is the basic unit of the YRB used to participate in international competitions. Taking seven urban agglomerations covering 70 cities along the YRB as the sample, this paper establishes a high-quality evaluation system and uses the entropy method and exploratory spatial data analysis (ESDA) to analyze the HQD levels of the seven urban agglomerations along the YRB from 2009 to 2018. In addition, geographically-weighted regression (GWR) is adopted to analyze the influencing factors. The results show that: (1) the gap in the HQD of the seven urban agglomerations gradually narrows, showing a spatial pattern of "high in the east, low in the west, and depression in the middle"; (2) the HQD levels of the seven urban agglomerations have a strong spatial correlation, and the patterns of cold and hot spots have not changed substantially, showing the spatial distribution of "hot in the east, cold in the west"; (3) the degree of influence of each driving factor on the HQD differs among the seven urban agglomerations. The order is as follows: industrial structure upgrading index > proportion of R&D expenditure > urbanization rate > internet penetration rate > proportion of urban construction area > proportion of days reaching the air standard. These findings show that advanced industrial structure and technology are the two core driving forces for the HQD of the urban agglomerations along the YRB.

A step towards sustainable path: The effect of globalization on China's carbon productivity from panel threshold approach

Surfacing the stress of global CO₂ emission reduction and the change into a low-emission economy has become one of the prominent economic concerns in the twenty-first century. The essence of evolving a low-emission economy is to raise carbon productivity that can be estimated as the cost-effective paybacks of CO₂ emissions. A panel threshold model was applied to approximate the threshold effect of globalization on carbon productivity under the development of human capital by using the panel data of thirty provinces of China from 2009 to 2017. The empirical findings demonstrate that China's carbon productivity increases, while economic growth shape moves towards sustainable development with low-carbon emission. Moreover, the driving force of globalization on carbon productivity is not tediously decreasing/increasing, but it has a double threshold effect of human capital. In line with this, this study finding found a single and double threshold of 9.3478 and 10.8800, respectively, as a benchmark where the relationship turns positive. The empirical findings have suggested several policy implications for the Chinese Government, policymakers, and regulatory authorities regarding this critical issue.

The Effects of Open Innovation Based on Mergers and Acquisitions on Innovative Behavior of Enterprises: Evidence From Chinese Listed Enterprises

Finding the factors driving enterprise innovation behavior from multiple dimensions is of great significance for promoting enterprise innovation. Open innovation based on overseas mergers and acquisitions (M&A) has become one of the main ways for enterprises to obtain knowledge and technology. However, there is still no agreement on whether open innovation based on overseas M&A can promote innovation behavior of enterprises. Based on data from M&A transaction and enterprise patent of China's Shanghai and Shenzhen A-share listed companies from 2011 to 2018, this study constructs a propensity score matching and difference-in-difference model from the perspective of innovation performance and innovation investment empirically studies the influence of open innovation mode based on overseas M&A on the innovation behavior of enterprises and finds that open innovation based on overseas M&A can significantly promote the innovation performance and innovation investment. Meanwhile dynamic effects test shows this promotion effect is sustainable; it reaches the maximum in the year of overseas M&A and decreases in the next two years. In addition, the impacts are heterogeneous due to enterprise ownership and enterprise technology intensity. The findings extends the scope of understanding innovation behavior of enterprises from overseas M&A and provide solid evidence of significant business implications for the promotion of entrepreneurial innovation.

Grey Lotka-Volterra model for the co-evolution of technological innovation, resource consumption, environmental quality, and high-quality industrial development in Shaanxi Province, China

The rapid industrialization and the lack of technological innovation over the past 40 years have caused serious environmental pollution and waste of resources. Therefore, it remains an urgent challenge to coordinate technological innovation, resource consumption, environmental quality, and high-quality industrial development in China. Using the data of Shaanxi Province from 2005 to 2019, in this paper, we adopt the 4-population grey Lotka-Volterra model (GLV) to study the competition and cooperation among technological innovation (TI), resource consumption (RE), environmental quality (EE), and industrial development quality (IQ). We also discuss the equilibrium point and stability of the GLV model and further verify its accuracy. We conduct an empirical study of the data of Shaanxi Province, and the results demonstrate that (1) TI is able to improve EE, increase IQ, and promote RE; (2) conserving resources has a positive effect on TI, EE, and IQ; (3) although EE could prevent TI and IQ, it can reduce RE; and (4) IQ can effectively reduce RE and improve EE; however, it hinders TI. (5) The result of equilibrium analysis reveals that the evolution of the four factors will tend to reach a stable equilibrium point in the future, that is, realizing co-evolution.

What Is the Mechanism of Resource Dependence and High-Quality Economic Development? An Empirical Test from China

For a long time, the resource curse had been widely concerned by researchers all over the world, especially in China. At present, China is in the transition stage from high-speed economic growth to high-quality development, and innovation and talents are important drivers. However, the existing research lacked an empirical test on resource curse and its transmission mechanism at the provincial level in China at this stage. In order to test the mechanism of transformation and upgrading of resource-based regions in the period of high-quality economic development, this study used the panel data of 30 provincial administrative regions of Chinese mainland (not including Tibet) from 2007 to 2017 to build a multi-step, multi-mediation model, and explored the direct and indirect impact mechanism of resource dependence on the high-quality economic development using the bootstrap method and generalized least square method. The key findings of this study were as follows: (1) The high-quality economic development level in the central and western provinces of China had been in a backward position compared with the eastern provinces. (2) There was a “resource curse” in the stage of high-quality economic development at the provincial level in China. (3) In terms of transmission mechanism, resource dependence had a negative impact on the high-quality economic development through the crowding-out effect of innovation investment and talents. Our conclusion provides a theoretical reference for other countries and regions to explore the relationship between resource dependence and high-quality economic development and may inform the economic development strategies by policymakers that wish to transform and upgrade the resource-based regional economy.