Economic effect of China's carbon neutrality target under shared socioeconomic pathways

Economic feasibility is crucial for achieving the carbon neutrality target.However,current integrated assessments often underestimate the economic impacts of mitigation policies due to the lack of consideration of their economic benefits.This study integrates a warming-labour productivity model with a typical integrated assessment model using shared socioeconomic pathways.It simulates China's economic development and carbon emission levels under both baseline and carbon-neutral policy scenarios,evaluating the economic costs and benefits of emission reduction policies aimed at achieving carbon neutrality.These findings reveal the following:(1)The economic costs of emission reduction policies are projected to peak between 2050 and 2060,ranging from 0.41%to 9.37%of total GDP in the baseline scenario,primarily due to increased energy prices and R&D investments.These costs are expected to decline rapidly after 2070.(2)China's carbon-neutral policies will mitigate global warming,with the economic benefits of mitigation projected to reach 5.65%to 17.24%of China's total GDP by 2100.(3)Lowcarbon scenarios SSP1 and SSP4 could significantly reduce initial economic costs and advance the onset of net economic gains to 2060.This integrated assessment confirms that China's carbon neutrality target offers substantial net economic benefits in the long term.To minimize initial economic costs,efforts should focus on enhancing consumption-side transitions,upgrading lowcarbon technologies,and adopting new energy sources.

Water Quality,Influential Factors,and Management Strategies from 2016 to 2020 in the Yangtze River Economic Belt,China

The Yangtze River economic belt(YREB),China is important to the Chinese economy and for supporting sustainable development.Clarifying the relationship between water quality indices and socioeconomic indicators could help improve aquatic environment management in the YREB and our understanding of the causes and effects of water quality variations in other large river basins.In this study,river water quality,factors affecting water quality,and management strategies,and correlations between water quality indices and socioeconomic indicators in the YREB during the 13th Five-Year Plan period(2016-2020)were assessed.The single-factor evaluation method,constant price for GDP,and correlation analyses were adopted.The results showed that:1)water quality in the YREB improved during the 13th Five-Year Plan period.The number of aquatic environment sections meeting GradeⅠ-Ⅲwater quality standards increased by 13.1%and the number below Grade V decreased by 2.9%.2)The values of 12 indicators in the YREB exceeded relevant standards.The indicators with highest concentreation were the total phosphorus,chemical oxygen demand,ammonia nitrogen,and permanganate index,which were relatively high in downstream regions in Anhui Province,Jiangsu Province,and Shanghai Municipality.3)Ammonia nitrogen,chemical oxygen demand,and total phosphorus emissions per unit area and water extraction per unit area are relatively high in the three downstream regions mentioned above.4)Increased domestic sewage discharges have increased total wastewater discharges in the YREB.5)River water quality in the YREB strongly correlated with population,economic,and water resource indices and less strongly correlated with government investment,agriculture,meteorology,energy,and forestry indices.This confirmed the need to decrease wastewater discharges and non-point-source pollutant emissions.The aquatic environment could be improved by taking reasonable measures to control population growth,adjusting the industrial structure to accelerate industrial transformation and increase the proportion of tertiary industries,and investing in technological innovations to protect the environment.

Geographical Indications and Regional Public Brands of the Whole Rice Industry Chain in the Yangtze River Economic Belt

The Yangtze River Economic Belt is the main rice producing area in China.The rice industry chain is the agricultural pillar industry chain of this economic belt and it is the key to ensuring national food security and promoting comprehensive rural revitalization.This study discusses the entire rice industry chain in the Yangtze River Economic Belt from the national rice production functional zones,agricultural product quality and safety,national famous and excellent new agricultural products,national specialty agricultural products,"China s good grain and oil"products,and national advantageous characteristic industrial clusters.Then,it discusses the geographical indications of rice and its products in this economic belt from geographical indication products,geographical indication trademarks,agricultural geographical indications,geographical indication standards,geographical indication special indications,national geographical indication product protection demonstration zones,and Chinese geographical indication products protected by the European Union.In addition,it analyzes the five main problems between geographical indications and public brands,such as the limited use of geographical indication specific signs and the imperfect intellectual property protection system for geographical indications.Finally,it proposes eight strategies,including promoting the high-quality development of the entire rice industry chain,creating a geographical indication regional public brand for rice and its products,and implementing geographical indication protection projects.

Health and Economic Impacts of Air Pollution in China: A Comparison of the General Equilibrium Approach and Human Capital Approach

In China, combustion of fossil fuels and biomass has produced serious air pollution that does harm to human health. Based on dose-response relationships derived from epidemiological studies, the authors calculated the number of deaths and people with health problems which were thought to be attributable to China＇s air pollution in the year of 2000. In order to estimate the corresponding economic impacts from the national point of view, the general equilibrium approach was selected as an analysis tool for this study. A computable general equilibrium （CGE） model was constructed involving 39 sectors and 32 commodities. The human capital approach （HCA） was also used for comparison. The economic burden of disease for people estimated by HCA was equivalent to 1.26‰ （ranging from 0.44‰ to 1.84‰） of China＇s gross domestic product （GDP）. China＇s GDP loss estimated by the general equilibrium approach reached 0.38‰ （ranging from 0.16‰ to 0.51‰）. The difference between the two approaches and the implications of the results were discussed.

Regional Difference in Social Capital and Its Impact on Regional Economic Growth in China

Social capital has played an increasingly important role in regional development.China is a country with high stocks of social capital.Using several different indicators of social capital,this study tries to research the regional disparities in social capital and the influence of social capital on economic growth of China in 1978-2004.Measuring social capital with indicators of associations,charities and blood donation rates,this study finds significant regional disparities in social capital at provincial level in China.Those indicators for social capital are highly correlated with regional economic performance.Statistical analysis shows that social capital has a significant and positive effect on a long-term provincial economic growth.This relationship exists after controlling policy,macro location factors,and per capita GDP in the initial year.The empirical findings indicate that institutions,culture and social relations are critical for regional development in China.Therefore,the creation and support of social capital should be paid more attention to when making regional policy.

Human Capital Structure and Economic Growth:From the Perspective of New Structural Economics

The Chinese economy has achieved remarkable development over the past 40 years of reform and opening-up.However,with the narrowing of potential for efficiency improvement from resources reallocation and changes in population age structure,the Chinese economy has moved from high-speed growth to high-quality development.In this setting,understanding factor endowment and comparative advantages of the economy from a perspective of human capital structure so as to enhance industrial structure adaptability by riding the trend is of significance for cultivating new driving force for economic development.This paper,following a theoretical paradigm of new structural economics,demonstrates how human capital structure matches industrial structure and the presence of optimal human capital structure using mathematical deduction.On this basis,national level panel data and instrumental variables are adopted for generalized method of moments,the results of which shows that there are varied impacts on economic growth in light of different human capital structure characteristics.The proportions of high-level human capital and medium-level human capital boost economic development,while that of low-level human capital has an inhibitory effect on economic growth.The policy implication of this study is that large economies should diversify efforts as per different human capital structure characteristics in terms of development need of tapping growth impetus from human capital structure improvement.It is of equal importance to raise the proportion of high and medium human capital in order to stimulate economic growth and to cut the proportion of low human capital that hinders economic development.

Research on the hierarchical structure of the metropolitan system and economic development of the provincial capital urban circle in Shandong

Regional development is the trend for future urbanization,and the urban circle is a highly efficient economic spatial pattern of regional development.This study selects statistical data of urban area population,GDP,and the output value of tertiary industry for seven cities in China- Jinan,Zibo,Tai'an,Laiwu,Dezhou,Liaocheng,and Binzhou- in the Shandong provincial capital urban circle from 2005 to 2009.It uses the principles and Zipf model,rank-size rule,and Lotka logarithmic model to analyze and study the hierarchical structure of the metropolitan system and economic development of the Shandong provincial capital urban circle.Based on the above research,this paper provides references for decisionmaking on enhancement of the metropolitan system structure,improvement in core city primacy index,the optimal adjustment of industrial structure and the optimal allocation of essential resources.

Complementary Zoning Frameworks for Sustainable Management of Eco-economic Capital:a Case Study of Lijiang,China

We propose two zoning frameworks for regional decision-makers to regulate eco-economic capital in Lijiang,southwest China,using an index system,layer overlay,and GIS spatial analysis.The frameworks include eco-economic zoning and major function-oriented zoning,with an emphasis on ecoeconomic capital and human activities.The two frameworks share common advantages in top-down resource regulation by a certain function and the pursuit of competitiveness,sustainability and welfare fairness.Their differences in development orientation,functional links and scale suitability provide a complementary approach for regional decisionmakers.The frameworks will help to understand complex eco-economic resource patterns and foster appropriate regional regulation strategies.

Longevity,Capital Formation and Economic Development

Many researchers have concluded that longer life expectancies prompt increased investment in education,as a prolonged labor supply raises the rate of return on education.Besides explaining the empirical evidence behind this conclusion(at an absolute level),there is another issue to be discussed:does time spent studying and working increase proportionally with higher longevity? Building on an extended life-cycle model,this paper shows that prolonged life expectancy will cause individuals to increase their time in education but may not warrant rises in labor input.Later we show that higher improvement rate of longevity rather than initial life expectancy will promote economic growth,even we exclude the mechanism of human capital formation,and only consider growth effects of higher improvement rate of life expectancy from physical capital investment.

Capital Account Openness,Exchange Rate Volatility and Economic Growth:International Experiences and Implications

Based on the Barro classical growth model, this paper introduces capital account openness and exchange rate volatility to conduct an empirical analysis using the panel data of 182 countries(regions) during 1970-2013 to examine the combined effects of capital account openness and exchange rate risks on economic growth. Our findings are as follows:(1) Without considering exchange rate volatility, capital account openness is subject to a threshold effect, i.e. capital account openness significantly promotes the economic growth of middle-and high-income countries but exerts the opposite effect on low-income countries; and(2) after exchange rate volatility is taken into account, the growth effect of capital account openness is reduced and the greater the exchange rate volatility is, the smaller the marginal effect of capital account openness will be; sample-specific results also proved the existence of the threshold effect. This paper offers the following implications:(1) The effect of capital account openness can be better examined based on risk factors;(2) moderately controlling exchange rate volatility is conducive to acquiring greater benefits from capital account openness; and(3) the threshold effect of capital account openness cannot be overlooked.

THE TURNPIKE IN DYNAMIC STOCHASTIC ECONOMIC GROWTH MODELS FOR STATE－CONTINGENT CAPITAL STOCKS

A stochastic economic growth model may be transformed into a deterministic economic growth model with an infiaite dimentional Banach space of state-contingent capital stocks [6]. This paper proves that under the framework, the stochastic analogUes of the asymptotic turnpike theorems in the standard deterministic economic growth model [5] will continue tO hold if we assume that essentially smooth programs satisfy uniformly essentially dominant diagonal condition.

Analysis on Capitalization of Rural Land Ownership in China by Law and Economics

To find solutions for legal system for capitalization of rural land ownership in China,this paper studied and analyzed existing problems in rural land system and legal environment using legal theory and transaction cost theory. Results indicated that(i) the restriction of institutional condition upon property right and transaction is more essential,and key points include the relationship of entities of right formed jointly by the state,collective and farmers,accurate positioning of property right structure,and security for land appreciation income right and allocation mechanism;(ii) the land property right structure should select a legal structure with minimum transaction cost. It is concluded that entitling the ownership to a single entity is an economical method to eliminate current conflict of rural land right.

Technology in New Institutional Economics --Comparison of Transaction Costs in Schumpeter＇s Capitalist Development Ideology

In mainstream economics （the neoclassical economics）, it is accepted that every company that competes under the perfect competition market has the same technological equipment. So, technology is approached as a simple efficiency increase whose source is unknown. In terms of established economics view, technology is like a ＂black box＂ that cannot be predicted. As the creator of the concept of＂creative destruction＂, Joseph Schumpeter （1883-1950） caused significant changes in terms of the view of neoclassical economics about technology. On one hand, Schumpeter created a new point of view about the concept of＂innovation＂ by using key concepts, such as ＂invention＂, ＂imitation＂, and ＂business cycles＂. Schumpeter＇s ＂creative destruction＂ concept carries out the role of a new map for the new institutional economics trend which accepts ＂technology＂ as an institution. On the other hand, if one is to understand why the ideology differs between neoclassical economics and new institutional economics, ＂transaction costs＂ should be analyzed. Since, transaction costs and creative destruction have a relationship between each other; Schumpeter and Coase＇s ideas are resembling each other. While doing this, this paper will try to discuss the question of how to accept the technology as ＂external＂ instead of ＂internal＂ limit neoclassical economics. In this process, it will primarily base the dimension on the concept of＂technology＂ developed by Schumpeter. The second station is an inquiry between Schumpeter＇s and Coase＇s ideas about technology. Although new institutional economics （NIE） and neoclassical economics can be confused, they can be seperated from each other by the way they look at technology. Because, technology is accepted as an external theme by neoclassical economics, on the contrary, NIE acceptes technology as an internal fact. One of the most important reasons why technology is internal in terms of NIE can be evaluated by ＂transaction costs＂. As a result, the author will give effort to create a critical presentation in order to readdress the viewpoint of mainstream economics about ＂technology＂.

Venture Capital Finance-Eliminating Double Sided Moral Hazards through Trade-off between Economic and Behavioural Economic Aspects-A Case Analysis

Venture capital finance has two aspects,the economic aspect and the behavioural economic aspect.The economic aspect includes issues such as conflict of interest between the entrepreneur and the venture capitalist(VC),asymmetric information,moral hazard,and compensation issues for both the parties.The behavioural economic aspect is related to relational factors such as empathy and a feeling of fairness and trust shown by both the parties.Therefore,while deciding the financer,entrepreneur should consider both relational aspect and value add services of the financier and strike optimal trade-off.The ensuing case analysis has been carried out focusing on elimination of double-sided moral hazards through a proper trade-off between economy and behavioural economic theories(aspects).The performance of the venture can be enhanced by balancing both of these theories in practice.An equity distribution that represents economic reward is a source of motivation for both the parties to put optimal efforts towards the success of the venture.This was seen in the case analysis,when the parties perceived the initial equity distribution agreement as fair,the satisfaction level of all the parties increased,leading to the reduction in the possibility of double-sided moral hazard and ensuring the success of the venture.Moreover,the analysis shows that information sharing and two-way communication increases trust and improves decision quality.It further focusses on how feedback and proper work distribution results in efficiency of performance for each of the stakeholders,leading to reduced probability of double-sided moral hazards.

Thinking About the Economic Management of Universities Based on Capital and Cost Management Optimization

The economic management of colleges and universities has always been a topic of great concern to China’s educational career,therefore,this paper will firstly make the necessary analysis of the current implementation of the economic management of colleges and universities in China,and then the reasons for the problems of economic management of colleges and universities in China is realized a detailed investigation,and finally,the economic management of colleges and universities based on capital and cost management optimization strategy is made a full discussion,looking forward to providing the necessary guidance for researchers in this field.

An Empirical Study of Economic Growth,Human Capital and Financial Development in Qingdao City

Human capital and finance can boost economic growth,and this paper performs an empirical test of economic growth,human capital and financial level,and finds that there is a long-term stable dynamic equilibrium relationship between the three.Results show that the finance and human capital in Qingdao City go through six stages( " imbalance-on the verge of imbalance-narrow coordination-primary coordination-intermediate coordination-well coordination"),and during the coordination process,human capital significantly lags behind.Therefore,it is necessary to increase human capital,accelerate the coordination between finance and human capital,and further promote the development of economic level.

The Role of Human Capital in Economic Growth

In endogenous growth theories, with the endogeneity of technology and its inclusion into the model, the new technologies produced by individuals equipped with knowledge, skills, and experience by using this technology were regarded as the human capital investments of countries. Later, the effects of human capital on economic growth became a significant topic in the empirical literature. In this study, initially the basic approaches to human capital were theoretically investigated. Then, the relationships between human capital and economic growth were analyzed with cointegration and causality tests by using the data of Turkey for the period 1961-2011. Our findings revealed a dual causality relationship between human capital and economic growth variables.

Environmental Impact of Capital Expansion Under Economic Imbalance: Evidence from China

At present, along with China's booming economic development, environmental pollution is increasing. This paper first uses the entropy weight method to calculate the comprehensive indicators of environmental pollution, takes 30 provinces in China (except Tibet) as the research object and uses the provincial panel data covering the years 2000-2015, to explores the impact of capital expansion on environmental pollution under the condition of unbalanced economic development in China. The results show that the more serious the unbalanced growth of sectoral economy is, the more distorted China's capital expansion will be, and distorted capital expansion will further aggravate environmental pollution. Finally, based on the empirical research results of this paper, the policy recommendations for improving the environment are proposed from the perspective of capital expansion.

Global Risk Appetite,US Economic Policy Uncertainties and Cross-Border Capital Flow

Based on the global asset portfolio model,this paper created a panel threshold model using EPFR fund data to empirically test the non-linear spillover effects of US economic policy uncertainties on cross-border capital flow for emerging economies.Our study led to the following findings:(1)When the level of global investor risk tolerance is high,rising US EPU will induce a capital inflow into emerging economies,as manifested in the“portfolio rebalancing effect.”When the level of global investor risk tolerance is below a critical threshold,this gives rise to risk aversion and emerging economies will experience net capital outflow,i.e.the“flight to quality effect”.(2)Equity fund investors have a lower risk tolerance threshold than bond fund investors.(3)According to our heterogeneity analysis,more attention should be paid to monitoring capital flow through actively managed funds,ETF funds,and retail investor funds.The economy should increase financial efficiency and economic resiliency to mitigate capital outflow pressures from the external environment.