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Arif MB, Malik AM, Hameed G, Shah AH, Hussain N, Shahid R. Investigating symmetrical influence of economic expansion, oil price, and industrial production on trade deficit: a policy pathway toward three neighboring Asian states. Environ Sci Pollut Res Int 2023; 30:103274-103290. [PMID: 37684504 DOI: 10.1007/s11356-023-29661-9] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Received: 06/22/2023] [Accepted: 08/29/2023] [Indexed: 09/10/2023]
Abstract
The intense objective of the present study is to investigate the symmetrical effectiveness of economic expansion, inflation rate, oil price, interest rate, and industrial production on trade deficit of the three neighboring states (China, Pakistan, and India). Westerlund bootstrap LM (Lagrange multiplier) panel co-integration test, Dumitrescu Herlin method, PMG-ARDL model, quantile regression, and quarterly data of last 15 years (2006Q1 to 2020Q4) have been utilized to envisage outcomes. Initial measurements validate the existence of stable co-integration and uni-directional causality among variables. Nevertheless, PMG-ARDL measures evaluates that in both long and short span of time, except industrial production all other regressors (economic expansion, inflation rate, oil price, and interest rate) positively influences the trade deficit in three neighboring states. Furthermore, robust estimates of quantile regression also authenticate the correctness of the above discuss relationship in study economies by evaluating positive (negative) impact of economic expansion, inflation rate, oil price, and interest rate (industrial production) on trade deficit. Thus, in policy pint of view, to lessen trade deficit hazard in studied economies, it is necessarily needed to encourage industrial production, replaced fossil fuel using outdated gadgets with advance green technology instruments, control inflation, and interest rate in single digit through strong budgetary and monetary policies and maintain economic expansion with appropriate and comprehensive taxation system.
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Affiliation(s)
- Muhammad Bilal Arif
- Department of Economics and Agricultural Economics, Faculty of Social Sciences, PMAS Arid Agriculture University, Rawalpindi, 44000, Islamic Republic of Pakistan
| | - Arshad Mahmood Malik
- Department of Economics and Agricultural Economics, Faculty of Social Sciences, PMAS Arid Agriculture University, Rawalpindi, 44000, Islamic Republic of Pakistan
| | - Gulnaz Hameed
- Department of Economics and Agricultural Economics, Faculty of Social Sciences, PMAS Arid Agriculture University, Rawalpindi, 44000, Islamic Republic of Pakistan
| | - Aadil Hameed Shah
- Government Degree College, Mianwali, 42201, Islamic Republic of Pakistan
| | - Nigah Hussain
- Department of Economics and Agricultural Economics, Faculty of Social Sciences, PMAS Arid Agriculture University, Rawalpindi, 44000, Islamic Republic of Pakistan
| | - Rabia Shahid
- International Business School, Hainan University, Haikou, 570228, People's Republic of China.
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Sun J. How e-commerce support economic growth amid COVID-19: evidence from Chinese economy. Environ Sci Pollut Res Int 2023; 30:88842-88860. [PMID: 37442934 DOI: 10.1007/s11356-023-28628-0] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 03/10/2023] [Accepted: 07/02/2023] [Indexed: 07/15/2023]
Abstract
The study's motivation develops from the need to comprehend how e-commerce affects economic resilience and recovery amid the COVID-19 crisis, particularly in the Chinese economy, and to provide empirical evidence to help stakeholders and policymakers understand how to use e-commerce for economic growth. This study aims to investigate how e-commerce supported economic expansion during the COVID-19 pandemic, particularly emphasizing the Chinese economy. Because of the rapid changes in consumer perceptions brought on by the COVID-19 epidemic, this study gives a thorough methodology for assessing the success of e-commerce businesses. The application's twenty-five secondary standards include two sustainability elements, sustainable development, and carbon dioxide emissions. Three Indian e-commerce companies serve as a case study to illustrate the assessment methodology. To capture the uncertainty in the judicial process, the findings are achieved via multi-criteria judgment (MCDM) technique called fuzzy VIKOR. In addition, quantitative research is used to rate and compare e-commerce businesses in terms of how well it meets the needs of their customers. The results break down the most crucial criterion and sub-criteria for online retailers to meet to meet consumer aspirations and remain profitable and environmentally responsible in the long run.
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Affiliation(s)
- Jianjun Sun
- Department of Digital Commerce, Zhejiang Business Technology Institute, Ningbo, 315012, China.
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Wang X, Yu J. COVID-19 Pandemic and Corporate Liquidity: The Role of SOEs' Trade Credit Response. J Int Money Finance 2023; 137:102901. [PMID: 38620114 PMCID: PMC10299843 DOI: 10.1016/j.jimonfin.2023.102901] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [Track Full Text] [Figures] [Subscribe] [Scholar Register] [Received: 09/09/2022] [Revised: 05/05/2023] [Accepted: 06/26/2023] [Indexed: 04/17/2024]
Abstract
Although state-owned enterprises are associated with less efficiency and lead to resource misallocation, they may have stabilizing effect in face of a crisis. Exploiting the COVID-19 pandemic as a natural experiment, we study the role of firm ownership in trade credit provision and find robust evidence that SOEs increase their trade credit to downstream firms more than non-SOEs after the outbreak of the pandemic. Moreover, we explore the underlying mechanism and find that better financing ability and multitask of the SOEs contribute to greater trade credit during the pandemic, and the latter plays a more active role. Further analyses show that SOEs' advantage in trade credit extension is more pronounced in industries with higher external financial dependence and provinces with a higher level of government involvement, suggesting that SOEs might have greater comparative advantage in screening due to its involvements in local economy during crisis periods. Our paper provides new insights into the real effects of SOEs on the economy.
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Affiliation(s)
- Xun Wang
- China Center for Economic Research, National School of Development, Institute of Digital Finance, Peking University
| | - Jingwen Yu
- Center for Economic Development Research, Wuhan University
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Hsiao HF, Zhao MH, Liao WJ. Analyzing the Performance of the Population Health Environment on the Promotion of Provincial Governors in China. Front Public Health 2021; 9:721492. [PMID: 34409012 PMCID: PMC8364950 DOI: 10.3389/fpubh.2021.721492] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [Track Full Text] [Download PDF] [Figures] [Journal Information] [Subscribe] [Scholar Register] [Received: 06/07/2021] [Accepted: 06/11/2021] [Indexed: 11/30/2022] Open
Abstract
China's economy has achieved rapid growth, but the change has also brought about serious environmental degradation, which is the main factor endangering human health. This study empirically investigates the impact of the population health environmental index on the promotion of provincial governors using an ordered probit model. The sample of the study consists of regions where provincial governors, municipal mayors, and autonomous region chairmen were stationed from 1995 to 2015. The results show that the population health environmental index had a significant and positive impact on governors' promotions, especially in the eastern region. The reformation of the population health environmental index assessment system for government officials was the initial factor that brought about these effects.
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Affiliation(s)
- Hsiao-Fen Hsiao
- Newhuadu Business School, Minjiang University, Fuzhou, China
| | - Meng-Han Zhao
- Newhuadu Business School, Minjiang University, Fuzhou, China
| | - Wen-Ju Liao
- Newhuadu Business School, Minjiang University, Fuzhou, China
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Dai R, Feng H, Hu J, Jin Q, Li H, Wang R, Wang R, Xu L, Zhang X. The impact of COVID-19 on small and medium-sized enterprises (SMEs): Evidence from two-wave phone surveys in China. China Econ Rev 2021; 67:101607. [PMID: 36568286 PMCID: PMC9761881 DOI: 10.1016/j.chieco.2021.101607] [Citation(s) in RCA: 21] [Impact Index Per Article: 7.0] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Received: 08/15/2020] [Revised: 02/02/2021] [Accepted: 02/20/2021] [Indexed: 05/19/2023]
Abstract
This paper examines the short-term and mid-term impact of COVID-19 restrictions on SMEs, based on two waves of phone interviews with a previously surveyed large SME sample in China. The outbreak of COVID-19 and the resultant lockdowns took a heavy toll on SMEs. Afflicted by problems of logistics blocks, labor shortages, and drops in demand, 80% of SMEs were temporarily closed at the time of the first wave of interviews in February 2020. After reining in COVID-19, authorities largely eased lockdown restrictions in April. Consequently, most SMEs had reopened by the time of the second round of surveys in May. However, many firms, particularly export firms, were running at partial capacity, primarily due to inadequate demand. Moreover, around 19% of incorporated enterprises and 25% of self-employed businesses had permanently closed between the two waves of surveys.
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Affiliation(s)
| | - Hao Feng
- Shanghai University of International Business and Economics
| | | | - Quan Jin
- Shanghai University of International Business and Economics
| | - Huiwen Li
- Shanghai University of International Business and Economics
| | | | | | - Lihe Xu
- Guangdong University of Foreign Studies
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Dai R, Feng H, Hu J, Jin Q, Li H, Wang R, Wang R, Xu L, Zhang X. The impact of COVID-19 on small and medium-sized enterprises (SMEs): Evidence from two-wave phone surveys in China. China Econ Rev 2021; 67:101607. [PMID: 36568286 DOI: 10.1016/j.chieco.2021.101687] [Citation(s) in RCA: 5] [Impact Index Per Article: 1.7] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Received: 08/15/2020] [Revised: 02/02/2021] [Accepted: 02/20/2021] [Indexed: 05/21/2023]
Abstract
This paper examines the short-term and mid-term impact of COVID-19 restrictions on SMEs, based on two waves of phone interviews with a previously surveyed large SME sample in China. The outbreak of COVID-19 and the resultant lockdowns took a heavy toll on SMEs. Afflicted by problems of logistics blocks, labor shortages, and drops in demand, 80% of SMEs were temporarily closed at the time of the first wave of interviews in February 2020. After reining in COVID-19, authorities largely eased lockdown restrictions in April. Consequently, most SMEs had reopened by the time of the second round of surveys in May. However, many firms, particularly export firms, were running at partial capacity, primarily due to inadequate demand. Moreover, around 19% of incorporated enterprises and 25% of self-employed businesses had permanently closed between the two waves of surveys.
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Affiliation(s)
| | - Hao Feng
- Shanghai University of International Business and Economics
| | | | - Quan Jin
- Shanghai University of International Business and Economics
| | - Huiwen Li
- Shanghai University of International Business and Economics
| | | | | | - Lihe Xu
- Guangdong University of Foreign Studies
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Ahmad M, Işık C, Jabeen G, Ali T, Ozturk I, Atchike DW. Heterogeneous links among urban concentration, non-renewable energy use intensity, economic development, and environmental emissions across regional development levels. Sci Total Environ 2021; 765:144527. [PMID: 33412378 DOI: 10.1016/j.scitotenv.2020.144527] [Citation(s) in RCA: 56] [Impact Index Per Article: 18.7] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Received: 09/08/2020] [Revised: 12/11/2020] [Accepted: 12/11/2020] [Indexed: 05/24/2023]
Abstract
This study examined the long-run and short-run heterogeneous links among urban concentration, non-renewable energy use intensity, economic development, and environmental emissions index across the regional development levels of 31 Chinese provinces. By employing the augmented mean group method and Dumitrescu-Hurlin causality, the following results are drawn: Firstly, a bidirectional positive linkage was existent between the economic development and urban concentration in both the long-run and short-run across regional development levels. Secondly, a unidirectional positive linkage emerged from non-renewable energy use intensity to environmental emissions index, with the most influential effect in EER China (highest development level). Thirdly, bidirectional mixed linkages prevailed between economic development and non-renewable energy use intensity. Economic development mitigated the non-renewable energy use intensity (inverted U-shaped curve) in the national data set and EER China (highest development level); nevertheless, the linear linkage was observed in IER China (medium development level) and WER China (lowest development level). Fourthly, unidirectional mixed linkages were found from urban concentration to non-renewable energy use intensity and environmental emissions index. Urban concentration demonstrated a U-shaped linkage with non-renewable energy use intensity and environmental emissions index in the national data set and EER China. But it unveiled a linear linkage with both variables in IER China and WER China. Fifthly, economic development showed an environmental Kuznets curve with environmental emissions index in the national data set and EER China. Conversely, it showed a linear linkage with the environmental emissions index in IER China and WER China. In turn, the environmental emissions index linearly hampered the economic development in the national data set as well as regional samples. Finally, the long-run and short-run effects showed homogeneity of the linkages' nature; yet, the degree of effects in the long-run surpassed those in the short-run for all development levels.
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Affiliation(s)
- Munir Ahmad
- School of Economics, Zhejiang University, Hangzhou 310058, China.
| | - Cem Işık
- Faculty of Tourism, Anadolu University, Turkey
| | - Gul Jabeen
- College of Management, Research Institute of Business Analytics and Supply Chain Management, Shenzhen University, Shenzhen 518060, China; School of Economics and Management, North China Electric Power University, Beijing 102206, China.
| | - Tausif Ali
- College of Energy and Electrical Engineering, Hohai University, Nanjing 211100, China
| | - Ilhan Ozturk
- Faculty of Economics and Administrative Sciences, Cag University, 33800 Mersin, Turkey; Department of Medical Research, China Medical University Hospital, China Medical University, Taichung, Taiwan; Department of Finance, Asia University, 500, Lioufeng Rd., Wufeng, Taichung 41354, Taiwan
| | - Desire Wade Atchike
- School of Economics and Management, North China Electric Power University, Beijing 102206, China
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Chen T, Lau CKM, Cheema S, Koo CK. Economic Policy Uncertainty in China and Bitcoin Returns: Evidence From the COVID-19 Period. Front Public Health 2021; 9:651051. [PMID: 33777889 PMCID: PMC7991402 DOI: 10.3389/fpubh.2021.651051] [Citation(s) in RCA: 3] [Impact Index Per Article: 1.0] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Download PDF] [Figures] [Journal Information] [Subscribe] [Scholar Register] [Received: 01/08/2021] [Accepted: 02/05/2021] [Indexed: 12/05/2022] Open
Abstract
This paper analyses the effects of the Chinese Economic Policy Uncertainty (CEPU) index on the daily returns of Bitcoin for the period from December 31, 2019 to May 20, 2020. Utilizing the Ordinary Least Squares (OLS) and the Generalized Quantile Regression (GQR) estimation techniques, the paper illustrates that the current CEPU has a positive impact on the returns of Bitcoin. However, the positive impact is statistically significant only at the higher quantiles of the current CEPU. It is concluded that Bitcoin can be used in hedging against policy uncertainties in China since significant rises in uncertainty leads to a higher return in Bitcoin. JEL Codes: G32; G15; C22.
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Affiliation(s)
- Tiejun Chen
- Business School, Zhejiang University of Technology, Hangzhou, China
| | | | - Sadaf Cheema
- Business School, The University of Huddersfield, Huddersfield, United Kingdom
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Gozgor G, Can M. Does export product quality matter for CO 2 emissions? Evidence from China. Environ Sci Pollut Res Int 2017; 24:2866-2875. [PMID: 27838907 DOI: 10.1007/s11356-016-8070-6] [Citation(s) in RCA: 10] [Impact Index Per Article: 1.4] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 09/03/2016] [Accepted: 11/07/2016] [Indexed: 05/13/2023]
Abstract
This paper re-estimates the environmental Kuznets curve (EKC) in China. To this end, it uses the unit root tests with structural breaks and the autoregressive-distributed lag (ARDL) estimations over the period 1971-2010. The special role is given to the impact of export product quality on CO2 emissions in the empirical models. The paper finds that the EKC hypothesis is applicable in China. It also observes the positive effect from energy consumption to CO2 emissions. In addition, it finds that the export product quality is negatively associated with CO2 emissions. The paper also argues potential implications.
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Affiliation(s)
- Giray Gozgor
- Istanbul Medeniyet University, Istanbul, Turkey.
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