Empirical Analysis of the Impact of Green Finance and Technological Progress on Total Factor Productivity in China’s Industrial Sector

The enhancement of industrial green total factor productivity is pivotal for achieving high-quality and sustainable economic development.This study assesses China’s performance using the SBM-GML model,employing province-level panel data spanning from 2004 to 2020.Furthermore,we examine the influence of green finance and technological progress on industrial green total factor productivity using a spatial econometric model.The findings uncover that the relationship between the level of green financial development and industrial green total factor productivity follows a U-shaped curve.Initially,low levels of green financial development exert a suppressive effect on industrial green total factor productivity,proving ineffective in the short term.However,with the progression of green finance development,a positive and significant long-term impact on industrial green total factor productivity emerges.Moreover,technological progress demonstrates a noteworthy promotional effect on industrial green total factor productivity.The analysis delves deeper into revealing that industrial structure and environmental regulation intensity exhibit a significant negative relationship with industrial green total factor productivity.In contrast,both energy structure and education level showcase a substantial positive relationship with industrial green total factor productivity.

The Status Quo and Developing Trend Analysis of Global Carbon Finance

This paper gives a systematic view of the new trends of global carbon finance innovation under the challenge of global climate change and in the process of transition to achieve economic growth from "high carbon" to 'low carbon",covering the following aspects:the structure,status quo and developing trend of global carbon market.The paper discusses the innovation in financial organization and service systems and governments' overall guidance and policy support,and draws the conclusion that the world is undergoing massive changes with governments actively responding to carbon finance to embrace the tremendous opportunities for clean energy and climate change in financial industry.To seize the opportunity,a complete and overall carbon finance system of China should be put in the top of the agenda.Given the current tasks of energy conservation and pollution reduction and the growing demand for capital input,China needs to construct an clear of policy guidance,a diversified financia service system,and a multi-approach carbon finance system to intensify and widen the participation of financial industry,to expand financing channels for sustainable economy and spread risks,and finally,work out an inexpensive solution to the realization of China's low carbon target.

Spatial Structural Pattern and Vulnerability of China-Japan-Korea Shipping Network

The economies of China-Japan-Korea （CJK） are complementary, with their proximity resulting in the three countries having a high degree of interdependence with respect to trade. Currently, trade among these countries relies mainly on port-centered shipping. The development of the shipping network is integral for in-depth integration of CJK trade. This paper analyzes the overall characteristics, centrality, spatial structure, and vulnerability of the CJK shipping network using the methods of complex network analysis, blocking flow theory, and interruption and deletion of hub ports. The main findings are as follows： 1） The CJK shipping network has a small average path length and clustering coefficient, and its degree distribution follows a power-law distribution, which make the network present obvious characteristics of a Barabasi-Albert scale-free. 2） The characteristics of the multi-center point of the CJK shipping network can alleviate traffic pressure. At the same time, the network shows a clear hierarchy in the port transportation system, with cargo transport relying mainly on the ‘hub port-hub port＇ connection. 3） The CJK shipping network is relatively stable. Compared with ports in Japan and Korea, the main hub ports in China have a greater impact on the stability of the shipping network, in particular those ports of the central coastal region, including Shanghai, Ningbo, and Lianyungang.

Impacts of the COVID-19 pandemic on vegetable production and countermeasures from an agricultural insurance perspective

In the face of the corona virus disease 2019(COVID-19)pandemic,it is essential to stabilize the security of urban“shopping baskets”.Through a survey and interviews with 46 agricultural cooperatives in Shanghai,this paper analyzes the impact of the pandemic on vegetable production and offers suggestions on agricultural insurance.The research results show that:(1)the pandemic has impacted almost all stages of the vegetable supply chain but has had a greater impact on the sales stage;(2)the market risks of vegetable production have increased significantly,and the gap between the field price and the market price has widened.The sales price difference between traditional channels and e-commerce is notable;(3)farmers’incomes have generally declined due to the COVID-19 pandemic,and traditional small-scale farmers have suffered more losses;and(4)agricultural insurance plays an important role in stabilizing the supply of vegetables to the city.To minimize the impact of the pandemic on vegetable production and to stabilize both urban“shopping baskets”and farmers’incomes,it is necessary to further improve agricultural insurance,especially to provide insurance against market risks.

Establishing a measurement,reporting,and verification system for climate finance in post-Paris agreement period

The measurement,reporting,and verification(MRV) of climate finance was originated from discussions under the United Nations Framework Convention on Climate Change(UNFCCC).It has been one of the key issues of global climate negotiations since 2009 and will continue to be of significant importance in addressing climate change and strengthening international trust.This paper analyses the concept,the objective,and the progress of the MRV of climate finance based on reviews of the latest literature and think-tank reports regarding climate finance regime and MRV.Following the analysis,challenges faced with the MRV of climate finance are illustrated.This paper presents that the comparability of climate finance data needs to be improved due to the variety of methodologies used for disaggregating climate finance.In addition,the integrality of the MRV system of climate finance has been impaired by the lack of feedback mechanism from the recipients to the contributors in reporting system.Furthermore,although accounting system of climate finance has been developing and improving,it remains incapacity in providing accurate data on disbursed climate finance.Responding to the above challenges,this paper proposes the key tasks in establishing a comprehensive MRV system for climate finance at international level.The tasks involve developing a measurement system with consistent data basis and accounting basis,a reporting system with more detailed guidance and standardized formats,as well as a verification mechanism balancing top-down and bottom-up review processes.In the last section,this paper concludes that the establishment of an improved MRV of climate finance requires concerted cooperation and negotiations between developed and developing country Parties under the UNFCCC.As one of the few developing country donors to the Global Environmental Facility(GEF),China is suggested to clarify its propositions as a developing country in aspects such as concept,coverage,and architecture of climate finance and MRV system,and gain bargaining power in improving operating and technical rules of international climate finance regime.

Current Situations and Development Recommendations for Pomegranate Industry in Lintong District of Xi'an City

Lintong pomegranate is well known in China and ranks first among the top five famous pomegranate types in China. In 2006,it obtained the national geographical indication protection product certification. In recent years,the pomegranate industry of Lintong has developed rapidly,but there are also some problems,which have become the weak points of local economic development. In order to promote the further sustainable development of the Lintong pomegranate industry,on the basis of the questionnaire survey,the paper introduced the role of Lintong pomegranate in the county economy,resource advantages,planting and marketing,the low scientific and technological content,shrinkage of planting area,decline of brand influence of Lintong pomegranate,lack of awareness of industrialization of characteristic agriculture,single product type,short industrial chain,etc. Finally,it came up with pertinent recommendations on the basis of these problems. In order to develop pomegranate,Lintong District should make full use of the local advantages,broaden the marketing channels,rationally apply the theory of industrialization,improve the cooperative organization,and form the characteristic industrial chain of Lintong pomegranate.

Learning Effect and Productivity Convergence of Chinese Industrial Enterprises

The main purpose of this paper is to test the production efficiency of different Chinese property industrial enterprises.Based on the large sample panel data of industrial enterprises of the National Bureau of Statistics,we found that although the production efficiency of China-funded enterprises is generally weaker than foreign-funded enterprises,some China-funded enterprises have better learning ability.On the one hand,dynamic analysis found that private enterprises have significant learning ability.On the other hand,the results of convergence analysis show that China’s private enterprises have the potential to gradually catch up with the frontier level of world production efficiency and have better learning ability to catch up potential.And state-owned enterprises tend to be more efficient at the beginning of their establishment,but their productivity is fairly slow to improve,especially for state-owned enterprises with high efficiency sub-samples,so that it’s hard for them to continue improving their efficiency.Institutional analysis found that the marketization process helped the China enterprises to improve their learning ability and China should continue to strengthen the reform of property rights and promote the marketization process.

Study on the Strategy of Pricing for Enterprise Merger and Acquisition

Enterprise merger and acquisition is one of the property right exchanges. This paper researches the strategy of pricing for enterprise merger and acquisition, displays finance decision-making model, program and method.

CONSTRUCTION OF COMPACTLY SUPPORTED BIVARIATE ORTHOGONAL WAVELETS BY UNIVARIATE ORTHOGONAL WAVELETS

After some permutation of conjugate quadrature filter, new conjugate quadrature filters can be derived. In terms of this permutation, an approach is developed for constructing compactly supported bivariate orthogonal wavelets from univariate orthogonal wavelets. Non-separable orthogonal wavelets can be achieved. To demonstrate this method, an example is given.

Risk identification and regulatory system design for the carbon market

Currently,the global carbon trading systems are fragmented and belong to different governments or are under the jurisdiction of different regions,resulting in a series of new problems,such as how to link dispersed trading systems,how to compare the emission reduction of various markets and other issues.Since the development of the international carbon market is relatively immature with uncertain life expectancy and volatility during its short history,and there is a lack of quantitative data on the long-term record,the market could provide few risk management tools.Meanwhile,with the launches of China's regional carbon trading pilots in seven provinces since 2013 and combined with the national voluntary emission trading system,carbon trading will become an important mechanism for China in achieving its emission reduction target.In the first stage,the carbon finance market is at least faced with mechanism design risks,market supply risks and compliance risks.Therefore,to secure the development of the carbon market and for public interest,relevant government departments of China should identify the risks facing the market and should make the basic principles and goals,such as ensuring effective trading and pricing mechanisms to avoid fraud and price manipulation,and balancing transparency and confidentiality of information.Consequently,the governments should develop a comprehensive carbon finance regulatory system covering regulatory legislation,regulatory institutions and their authorities,regulatory scope as well as regulatory objects.

Survey Reveals Farmers'Perceptions of Modern Life

Through a statistical analysis of the results of a field survey conducted in a moderately remote suburb of Shanghai,this article investigates the common problems and concerns that farmers are facing during the process of marketization. In evaluating the level of rural development,farmers pay more attention to social security and their living conditions than an increase in income. Whilst playing a prominent role in the development of the rural economy and environmental governance, the government has failed to adequately cultivate community culture and public spiritual life. The government policies on building a new socialist countryside focus on those issues of most concern to farmers: income,employment,education,social security and rural environmental governance,whilst neglecting the cultural life of farmers.

Reexamining the Viewpoint of the World Bank： Does Agricultural Growth Play a More Important Role in Reducing Poverty in Rural China？

The Worm Bank maintains that, compared to the growth of other industries, agricultural growth plays a more important role in reducing China＇s rural poverty. This stance, however, is contrary to the findings in this paper. This paper asserts that China＇s experience in reducing rural poverty should be attributed to： （1） its earlier, unbalanced economic development strategies, which gave priority to heavy industries and industrialization and led to the economic boom,＂ and （2） the expansion of non-agricultural sectors, which enabled poor rural households to engage in non-agricultural production. Thus, the key impetus to reducing poverty in rural China is industrialization. Due to its large population but limited farmlands, it may not be a good strategy for China to make agricultural development a priority because its relatively low value added and net profits are inept to promote economic development and reduce rural poverty.

Commercial Credit and Corporate Productivity

As an important form of informal finance,commercial credit is widely used among enterprises.Does commercial credit promote the total factor productivity of enterprises?According to the theoretical literature and the reality,using the large sample data of Chinese industrial enterprises,the paper empirically tests the impact of commercial credit on the productivity of enterprises from three aspects:the provision and acquisition of commercial credit and the net commercial credit.The study finds that the provision of commercial credit reduces the productivity level of enterprises;the acquisition of commercial credit fails to promote productivity;while the net commercial credit as a short-term financial buffer for enterprises can alleviate the financing constraints,faced by enterprises,especially private enterprises,which help to increase their productivity levels.In addition,the study found that the higher the marketization process in the region,the more favorable the commercial credit is to the improvement of the production efficiency of private enterprises.

The Problems Being Faced for Establishing Index Futures Transaction and the Contract Design

The article deeply and systematically probed into a series of problems being faced for establishing index futures transaction in China. Drawing on the successful experiences of other relative countries and according to Chinese real conditions, the author chooses Shanghai composite index as subject-matter, and has designed an index futures contract that accord with the situation of China.

Analyze Light in August by Lacan's Theory of Mirror Stage

Being one of the greatest 20 thcentury writers, William Faulkner was rewarded with the Nobel Prize for literature in1949. For his whole life, he created many novels which were given high appraisal and remained popular up to today. Light in August, carrying as the representative of Faulkner's novels, is not an exception as to the digging about individual's formation about identity. In the light of Lacan's theory of Mirror Stage, this paper tries to evaluate Faulkner's discussion over the formation of individual's identity with Joe Christmas as the example.

Effect of geopolitical risk and economic uncertainty indices on renewable energy

In this study,the relationships between five renewable energy sub-sectors markets and the geopolitical risk(GPR)and economic uncertainty indices(EUI)were examined using daily data from March 30,2012,to April 1,2022.Convergent cross mapping results show that the renewable energy indices have definite relationships with the GPR and EUI.The renewable energy indices show differences in response directions,speed and trends for a standard information difference impulse from the GPR and the EUI.A positive dynamic conditional correlation between renewable energies and EUI was observed in the first and second waves of the COVID-19 outbreak.In contrast,there was a relatively decreased effect for two risk indices during the Russia-Ukraine conflict of February-March 2022.Our results show that renewable energy may act as a time-varying hedge against economic uncertainty and GPR owing to its safehaven properties at various scales.Moreover,building more secure and reliable renewable energy systems can help countries to increase their energy independence,which protects them against the risks of political and economic uncertainty.

The Mechanism and Empirical Testing of the Impact of Cultural and Tourism Integration on Common Prosperity

Achieving common prosperity is the essential requirement of Chinese modernization,and the integration of culture and tourism is of great significance as an important path to narrow the regional gap,and effectively“improve quality”and“increase income”.This study used the panel data of 30 provinces in China from 2010 to 2019,and conducted empirical tests by using the panel fixed effects model and the mediation effects model.The results indicated that the integration of culture and tourism can significantly promote the realization of common prosperity.This integration can promote common prosperity by increasing the income and consumption level of urban and rural residents,the degree of equalization of basic public services and the capacity for sustainable development.Spatial analysis shows that there are regional differences in the promotion of common prosperity by cultural and tourism integration,which is particularly obvious in ethnic and non-ethnic areas.Finally,in response to the existing problems identified in the above analyses,countermeasure recommendations that align with the actual development are put forward.

Firms and climate change:a review of carbon risk in corporate finance

This paper provides an overview of financial economics-based research on carbon risk with an emphasis on corporate finance.In the corporate finance literature,carbon risk refers to the impact of society’s transition to a lowcarbon economy on firm value due to tightening regulations,changing consumer preferences,reputational damage,etc.We focus on the links between carbon risk and different firm performance factors,such as firm risk,cost of capital,financial performance,firm value,and corporate decisions.Although research on carbon risk is still emerging in the corporate finance field,the amount of literature on this topic has been increasing,especially in the last 2 years.We find that some results are robust,while others are mixed.This indicates that conflicting hypotheses still exist,leading to a need for more in-depth exploration.

Regulatory role of CREB/BDNF signaling pathway in acute sleep deprivation-induced anxiety-like behavior mice

Objective:To investigate the regulatory role of cyclic adenosine monophosphate responsive element binding protein(CREB)/brain-derived neurotrophic factor(BDNF)signaling pathway in acute sleep deprivation(SD)-induced anxiety-like behavior mice(SD group)to study the mechanism of anxiety-like behavior better.Methods:The SD chamber was used to deprive the mice of sleep,and the anxiety-like behavior of the mice was verified using an open field test(OFT),elevated plus maze(EPM),forced swim test(FST),and tail suspension test(TST).Finally,proteins were detected by Western blotting.Result:OFT showed that the active distance and the time of stay in the central area were significantly reduced(P<0.05).EPM showed that the time and number of open arms in the SD group were significantly lower than in the control group(P<0.05).The FST showed that the forced swimming immobility time of the SD group was significantly lower than that of the control(P<0.05).Moreover,the TST showed that the immobility time of the tail suspension experiment in the SD group was significantly higher than that in the control group(P<0.05).Conclusion:Acute SD can regulate anxiety-like behavior in mice through the CREB/BDNF signaling pathway.