Spillover effects and incentive initiatives of green behavior

Spillover effects play a crucial role in hindering the effective implementation of green behavior.Whether it pertains to enterprises or individuals,engaging in green behavior often leads to increased costs.However,the benefits derived from green behavior cannot be fully recouped but rather spill over and benefit other non-green entities,thereby undermining the incentives for companies or individuals to engage in green practices.The study categorizes the spillover effects of corporate green investment into three aspects based on the channels through which they occur:environmental spillover,inter-industry spillover(vertical spillover),and intra-industry spillover(horizontal spillover).While these three spillover mechanisms work in tandem with green behavior,existing literature has predominantly focused on the "free-rider " effect of environmental spillover and horizontal spillover,neglecting the impact of vertical spillover.Additionally,this paper provides a comprehensive review of measures aimed at incentivizing corporate green investment.Current government-level measures often overlook the multifaceted nature of spillover effects stemming from green behavior and the factors influencing corporate decision-making in this regard,resulting in various limitations and deficiencies.The paper argues that,besides relying solely on direct interventions from external actors such as the government or society,a more significant emphasis should be placed on enhancing the role of enterprises as a fundamental approach.This involves fostering the endogenous capacity of enterprises to generate green investment and facilitating a beneficial interaction that respects corporate autonomy.Consequently,policymakers should consider multiple dimensions of spillover effects and design appropriate mechanisms that leverage the inherent capabilities of enterprises,thus stimulating green investment.This approach represents a crucial area for future research that warrants further in-depth inve stigation.

Research on the Spillover Effects of Digital Transformation on the Sustainable Growth of Green Schools

The development of society and the advancement of science and technology have led to the widespread integration of digital transformation in the field of education.However,the current establishment of green schools faces various challenges,including non-environmental building facilities,high renovation costs,low organizational management efficiency,high energy consumption,outdated office tools,and insufficient environmental awareness among teachers and students.Through thorough research and analysis,it becomes evident that digital technology can play a pivotal role in addressing these challenges and contribute to all aspects of green school establishment.The incorporation of digital thinking concepts is essential for the construction of ecologically civilized campuses and inclusive innovation.The process of digital design and transformation proves instrumental in optimizing both software and hardware facilities within the campus,thereby reducing energy consumption.Simultaneously,comprehensive digital teaching management enhances overall efficiency in management and service delivery.Innovative digital teaching and learning models emerge as transformative tools,providing new avenues to create low-carbon,green classrooms for both teachers and students.By exploring the application of digital transformation in establishing green schools and examining the resulting spillover effects,valuable insights can be gained.These insights,in turn,serve as reference points for building diversified digital technology paths on campus and fostering the creation of green schools.

Internal Polarization Field Induced Hydroxyl Spillover Effect for Industrial Water Splitting Electrolyzers

The formation of multiple oxygen intermediates supporting efficient oxygen evolution reaction(OER)are affinitive with hydroxyl adsorption.However,ability of the catalyst to capture hydroxyl and maintain the continuous supply at active sits remains a tremendous challenge.Herein,an affordable Ni2P/FeP2 heterostructure is presented to form the internal polarization field(IPF),arising hydroxyl spillover(HOSo)during OER.Facilitated by IPF,the oriented HOSo from FeP2 to Ni2P can activate the Ni site with a new hydroxyl transmission channel and build the optimized reaction path of oxygen intermediates for lower adsorption energy,boosting the OER activity(242 mV vs.RHE at 100 mA cm-2)for least 100 h.More interestingly,for the anion exchange membrane water electrolyzer(AEMWE)with low concentration electrolyte,the advantage of HOSo effect is significantly amplified,delivering 1 A cm^(-2)at a low cell voltage of 1.88 V with excellent stability for over 50 h.

Evolution and Determinants of Population Agglomeration in Less Developed Metropolitan Areas:A Case Study of the Taiyuan Metropolitan Area,China

It is of importance to enhance the urban areas'capacity for population aggregation in underdeveloped regions,aiming to rectify the imbalanced and insufficient pattern of economic development in China.Taking the Taiyuan Metropolitan Area(TMA)in central China as a case study,this paper examines the evolutionary process and characteristics of population agglomeration from 2000 to 2020,and identifies factors associated with agglomeration and their spatial effects.The findings indicated that:1)against the background of sustained population shrinkage in the provincial area,the TMA showed a demographic trend of steady increase,albeit with a decelerated growth rate.In the metropolitan area,urban population size continued to grow rapidly,whereas the rural areas endured sustained losses.Disparities in city size continued to widen,and the polarization of concentrated population in the core cities kept increasing.2)Agglomerations in both secondary and service industries had significant positive effects on local population agglomeration,with the former effect being stronger.Regional economic development,government fiscal expenditure,and financial advancement all contributed to facilitating local population clustering.From a spatial spillover perspective,service agglomeration and financial development promoted population agglomeration in surrounding areas.Conversely,fiscal expenditure inhibited such agglomeration.As for industrial agglomeration and regional economic development,their spatial spillover effects were non-significant.The results obtained reveal several policy implications aimed at enhancing the population agglomeration capacity of the metropolitan area in underdeveloped regions during the new era.

Synergistic dance of digital economy and green finance on carbon emissions:Insights from China

China has recently implemented a dual-carbon strategy to combat climate change and other environmental issues and is committed to modernizing it sustainably.This paper supports these goals and explores how the digital economy and green finance intersect and impact carbon emissions.Using panel data from 30 Chinese provinces over the period 2011-2021,this paper finds that the digital economy and green finance can together reduce carbon emissions,and conducts several robustness tests supporting this conclusion.A heterogeneity analysis shows that these synergistic effects are more important in regions with low levels of social consumption Meanwhile,in the spatial dimension,the synergistic effect of the local digital economy and green finance adversely impacts the level of carbon emissions in surrounding areas.The findings of this paper provide insights for policymakers in guiding capital flow and implementing carbon-reduction policies while fostering the growth of China’s digital economy and environmental sustainability.

Spatial spillover effects of transport infrastructure on regional economic growth

Spatial spillover effects,either positive or negative,of transport infrastructure,highways/expressways,etc.,on regional economic growth are proposed.Using the panel data for 11 cities of Zhejiang province from 1994 to 2003,a spatial production function is applied to examine the spatial spillovers which can be generated as a positive output spillover from the transport infrastructure between neighboring cities.Some spatial weighted matrices are adopted to define different neighboring cities to measure how easily factors or economic activities can migrate between regions.The estimation results show that the output elasticity of the highway infrastructure in 11 cities are all insignificant at a 5% significance level;hence,highway infrastructure in a region cannot explain the same region's economic growth.On the other hand,the highway infrastructure of other contiguous regions has positive spillover effects on a same region's economic growth.

Impact of digital economy development on carbon productivity:An empirical analysis based on threshold effect and spatial spillover effect

Utilizing provincial panel data from 2014 to 2020,this study employs a fixed effect model,a threshold effect model,and a spatial lag model to empirically examine the correlation between digital economic development and carbon productivity.The findings indicate that digital economic development significantly contributes to the enhancement of carbon productivity in the long term.Furthermore,through instrumental variable method,replacement of explanatory variables and other methods to test its endogeneity and stability,the results remain robust.In terms of regional heterogeneity,the impact of digital economic development on carbon productivity is less pronounced in the central and western regions compared to the eastern region.Additionally,further investigation reveals that industrial structure upgrading and science and technology investment level exhibit different threshold effects on the influence of digital economy development level on carbon productivity.Moreover,there is a significant spatial spillover effect of digital economy development on carbon productivity with H-H and L-L agglomeration spatial correlation.

Energy consumption,air quality,and air pollution spatial spillover effects:evidence from the Yangtze River Delta of China

Based on analysis of the theoretical impact of energy consumption on air quality,taking 20 heavily polluted cities in the Yangtze River Delta of China as the object,we construct a Spatial Dubin Model,and estimate the effect of energy consumption on air quality and the spatial spillover effects of air pollution.We come to the following conclusions:First,the regional air quality has significant spatial dependence and spatial heterogeneity.Second,under three kinds of spatial associated mode,energy consumption has a negative impact on air quality,and the air pollution arising from energy consumption has a negative intra-regional spillover effect.The effect is strongest under the spatial distance weight matrix,followed by the economic distance,and the adjacent spatial weight matrix,which are−0.7926,−0.4547,and−0.4539,respectively.Third,in addition,under the adjacent space and economic distance space matrix,energy consumption has a significant negative effect on air quality,and the inter-regional spillover effects are−0.1513 and−2.5736,respectively.Meanwhile,considering spatial distance and economic development,the inter-regional spillover effect is much larger than is the intra-regional spillover effect.In general,the total spillover effect is at−0.6053 and−3.0284.

Low-carbon technology innovation responding to climate change from the perspective of spatial spillover effects

China's technological efforts to tackle climate change have lasted for many years. It is necessary to test the effect of these efforts with quantitative method. To be exact, whether and how China's low-carbon technology innovation responds to climate change should be tested. Based on the2004-2015 panel data of 30 provinces in China, we use the method of ESDA analyzing the spatial correlation of China's low-carbon innovation technology. Furthermore, we use the spatial Durbin model empirically analyzing the spatial spillover effects. The results obtained are as follows: first,supply and demand of Chinese low-carbon innovation has some deviation in the spatial distribution. The low-carbon technology innovation as the supply factor shows the characteristics of expanding from the east to the west. Innovation in eastern China has always been the most active, but innovative activities in the middle and western China are gradually decreased.However, carbon emissions have the characteristics of moving westward, implying the change of technology demand different from technology supply. Second, China's low-carbon innovation actively responds to the trend of climate change, indicating China's technological efforts have paid off. However, the spatial spillover effects are not significant, showing that the efforts in each region of China still work for himself. Third, environmental regulation and market pull are important factors for low-carbon technology innovation. Among them, both supporting policy and inhibitory policy have significant impact on the local low-carbon technology innovation, but no significant spatial spillover effects. It shows that environmental policies in different regions are competitive and lack of demonstration effects. Economic growth and export as market pull have higher level of effect on low-carbon technology innovation for both local and adjacent areas.Some policy implications are proposed based on these results finally.

FDI and the technological spillover effects: a comparative analysis on the Yangtze River Delta and the Pearl River Delta

This article calculates the technological spillover effects of foreign direct investment (FDI) in the Yangtze River Delta and the Pearl River Delta through Panel Data, and analyzes the influence on the technological spillover effects of the following factors in these two different areas: human capital, the opening up, R&D and the source of FDI. It makes the conclusion that FDI in different areas has different technological spillover effects and the local governments should make different policies accordingly so as to gain more obvious technology spillover effects.

Poverty reduction effects of integrating high-quality development and cultural tourism in China

The integration of the cultural tourism industry with high-quality development is believed to be an important method of alleviating poverty.Most research in this area has focused on single towns,cities,or regions without considering the spillover effects of neighboring areas.To fill this gap,this study applies a spatial panel econometric model to empirically test the spatial spillover effects of integrating the cultural tourism industry with high-quality developments and their mechanisms of poverty alleviation based on provincial panel data of the Chinese Mainland from 2010 to 2020.Four key results are presented.First,there is an obvious spatial dependence on the high-quality development scale,specialization level,and poverty level of cultural tourism integration.The common panel model is found to overestimate the impact of this integration on poverty alleviation because it ignores the spatial spillover-related explanatory variables.Second,the scale of development quality is found to have no significant impact on poverty alleviation when integrating cultural tourism;however,the level of development specialization has both a direct impact on poverty alleviation and the spatial spillover effect.Third,the integration of the cultural tourism industry in the Central and Western regions is shown to have a strong direct effect on poverty reduction through high-quality development.However,the spillover effect on poverty reduction in the Eastern region is greater than that in the Central and Western regions.Fourth,the integration of high-quality development and cultural tourism is found to have a direct impact on poverty alleviation overall by promoting tourism consumption,material capital accumulation,and structural transformation.

Electricity Consumption and Spillover Effects A Dynamic Panel Data Approach

The paper intends to analyze economic factors that influence electricity consumption in the OECD economies. A special interest in this context is given to spillover effects of trade on electricity consumption. For this purpose, a model is constructed that using a dynamic panel study approach. The model is estimated in a GMM framework in which a dynamic procedure is conducted along the balanced growth path for electricity consumption in each economy. In advance, the long run dynamic behavior of prices, GDP, and trade induced spillover variables is determined. In a further step, the short run dynamic mechanism is pursued by estimating the partial adjustment dynamic coefficient on the target level of electricity consumption. The analysis is conducted for industrial, as well as residential electricity consumption. Alternatively, the same procedure is estimated by the application of a fixed period model. The model provides a benchmark tool for electricity policy decisions and for electricity consumption projections.

FDI＇s Spillover Effects on China＇s Growth Quality

Using panel data of 29 regions in China from 1999 to 2007, this paper presents a systematic evaluation of how FDI＇s spillover effects impact the quality of China＇s indigenous econotnic growth, Research outcomes suggest that technology transfers and diffusion have a positive effect on indigenous growth quality. Spitlover effects （mainly competition effect） have primarily negatively affected indigenous growth quality. The effect on indigenous growth quality is positive only in sub-samples with high foreign capital concentration and ,,hen the spillover effect is similar to the technology transfer and diffusion effect brought about by localization. It is also found that technology gaps, foreign capital concentration and value added ratio gaps are important factors affecting the impact of technology transfer and diffusion on indigenous economic growth.

The impact of carbon emissions trading policy on carbon emission efficiency in Chinese cities:Evidence from a quasi-natural experiment

Based on a panel dataset spanning from 2003 to 2019 and encompassing 284 prefecture-level cities in China,this study treats the implementation of the carbon emissions trading policy(CETP)as a quasi-natural experiment.In addition,it employs a spatial difference-in-differences(DID)framework to quantify both the direct and spatially mediated impacts of CETP on urban carbon emission efficiency(CEE).The investigation further delves into the underlying channels of influence and variations within this context.The findings demonstrate that CETP effectively enhances CEE within the cities chosen for piloting;however,it concurrently dampens CEE in nonpiloting neighboring cities.These conclusions remain robust across diverse sensitivity tests.The analysis of mechanisms reveals that CETP’s influence on urban CEE primarily operates through the avenues of technological innovation and optimization of energy structure.Moreover,the study of variances discloses that CETP’s direct effect significantly advances CEE in eastern,old industrial base,and central cities.In terms of indirect effects,a pronounced adverse spatial spillover effect is observed in eastern and old industrial base cities,while noteworthy positive spatial spillover effects emerge in central cities.Notably,the spatial extent of CETP’s influence on urban CEE declines after reaching a distance of 900 km.These insights furnish valuable guidance for China in refining its nationwide carbon market and expediting the shift toward a low-carbon economy.

A spillover network analysis of the global crude oil market:Evidence from the post-financial crisis era

The frequent occurrence of geopolitical crises in the post-financial crisis era is driving the rethinking behind whether the global crude oil market is still a highly connected"great pool".Using the spillover network model suggested by Baruník and Krehlík(2018),and the daily data of 31 global crude oil markets from 2009 to 2019,this study examines the return and volatility spillover effects and their timevarying behavior in six crude oil market segments at different timescales.The findings indicate that heterogeneity exists in the co-movements between global crude oil markets in the post-financial crisis era.In the medium term,both return and volatility spillover effects are not significant,which makes the diversified portfolio strategy useful.Prices in the Europe and Central Asian regions take the lead in return spillovers.In contrast,Asia-Pacific regional prices contribute the most in terms of volatility spillovers.Long-term volatility spillovers increase sharply when confronted with oil-related events in the postfinancial crisis era.Therefore,policymakers should take effective measures to prevent any large-scale risk transmission in the long run.

Study on spillover effect of copper futures between LME and SHFE using wavelet multiresolution analysis

Research on information spillover effects between financial markets remains active in the economic community. A Granger-type model has recently been used to investigate the spillover between London Metal Exchange(LME) and Shanghai Futures Exchange(SHFE) ,however,possible correlation between the future price and return on different time scales have been ignored. In this paper,wavelet multiresolution decomposition is used to investigate the spillover effects of copper future returns between the two markets. The daily return time series are decomposed on 2n(n=1,…,6) frequency bands through wavelet mul-tiresolution analysis. The correlation between the two markets is studied with decomposed data. It is shown that high frequency detail components represent much more energy than low-frequency smooth components. The relation between copper future daily returns in LME and that in SHFE are different on different time scales. The fluctuations of the copper future daily returns in LME have large effect on that in SHFE in 32-day scale,but small effect in high frequency scales. It also has evidence that strong effects exist between LME and SHFE for monthly responses of the copper futures but not for daily responses.

Spillover of international crude oil prices on China's refined oil wholesale prices and price forecasting:Daily-frequency data of private enterprises and local refineries

Compared with retail prices of state-owned companies used in almost all existing studies,China’s refined oil wholesale prices of private enterprises and local refineries are more affected by the market and better reflect the real supply-demand situation.For the first time,this paper applies own-monitored dailyfrequency wholesale prices of China’s private enterprises and local refineries during 2013-2020 to derive spillover effects of international crude oil prices on China’s refined oil prices through the VAR-BEKKGARCH(vector autoregression-Baba,Engle,Kraft,and Kroner-generalized autoregressive conditional heteroscedasticity)model,and then tries to forecast wholesale prices through the PCA-BP(principal component analysis-back propagation)neural network model.Results show that international crude oil prices have significant mean spillover and volatility spillover effects on China’s refined oil wholesale prices.Changes in crude oil prices are the Granger cause of changes in refined oil wholesale prices.With the improvement of China’s oil-pricing mechanism in 2016,the volatility spillover from the international crude oil market to China’s refined oil market gradually increases,and the BRENT price variation has an increasing impact on the refined oil wholesale price variation.The PCA-BP model could serve as a candidate tool for forecasting China’s refined oil wholesale prices.

A Spatial Econometric Approach to Studying Regional Air Pollution in China

Using spatial econometric method,this paper investigates the mutual influence of air pollution among 31 Chinese provincial regions,together with the effects of energy mix and economic variations.Global spatial autocorrelation analysis reveals that significant positive spatial correlation exists for air pollution;Local spatial autocorrelation analysis indicates that pollution aggregation hot spots are concentrated in Beijing-Tianjin-Hebei region,the Yangtze River Delta and part of the central region between these two economic growth poles.This paper believes that industrial relocation is a major reason behind such distribution of air pollution in China as it has deepened the spatial correlation between interregional economy and pollution,which will further give rise to the spatial spillover effect of pollution.With the creation of the regression model of spatial and Environmental Kuznets Curve,the authors discovered that the level of pollution is closely related to energy mix and industrial structure.In addition,the inverted U-shape relationship between air pollution and economic development as demonstrated by previous studies does not exist or is yet to appear in China,where continuous growth of per capita GDP is accompanied by an increasing level of pollution.According to empirical analysis,the improvement of environmental quality at the expense of industrial relocation to neighboring regions is temporary.Due to the existence of spillover effect of pollution,regions that have enforced tighter environmental regulation such as Beijing and Tianjin are unable to acquire all benefits from such regulation.Treatment of air pollution necessitates interregional joint prevention and control.In the long run,adjusting energy mix and optimizing industrial structure are the key to fighting air pollution.But in the short run,reducing the consumption of inferior coal is the most effective option for China,which has seen multiple-fold increase in imports of inferior coal each year.

Volatility spillover effect between financial markets:evidence since the reform of the RMB exchange rate mechanism

The volatility spillover effect between the foreign exchange and stock markets has been a major issue in economic and financial studies.In this paper,GC-MSV model was used to study the spillover effect between the foreign exchange market and the stock market after the reform of the RMB exchange rate mechanism.The empirical results show that there is a negative correlation of dynamic price spillovers between the foreign exchange and stock markets.There are asymmetric volatility spillover effects between these two markets for both RMB stages—continued RMB appreciation or constant RMB shock(a significant reduction in appreciation).However,this has been reduced over time.In conclusion,The RMB exchange rate is a key variable that can affect the internal and external equilibrium of the national economy in an open economic environment,and the stock market is capable of quickly reflecting subtle changes in the real economy.In order to keep the stability of the financial markets and the healthy and rapid development of national economy,some suggestions were proposed.

Impact of environmental regulations on the efficient control of industrial pollution in China

The continuous progress of industrialization is a fundamental cause of China’s increasingly severe environmental pollution problem.Improving the efficiency of industrial pollution control is an inevitable choice to effectively decrease pollution emissions,thus winning the battle of pollution prevention and control.In this paper,we used the stochastic frontier analysis(SFA)model to measure the provincial efficiency of industrial pollution control based on the input and output data of industrial pollution control of 29 administrative provinces in China from 2000 to 2017.On this basis,a spatial econometric model was used to explore the influence of environmental regulation intensity on the efficiency of industrial pollution control.In addition,the spatial spillover effect of pollution reduction was thoroughly examined.The results show that:(1)The efficiency of industrial pollution control in China has improved year by year,but the overall efficiency is still low,with the average value increasing from 0.165 in 2000 to 0.309 in 2017.Furthermore,there is significant regional heterogeneity with the highest efficiency level in the east and lowest efficiency level in the west.(2)By increasing the financial and material input,the efficiency of industrial pollution control has increased.However,the increase of human input has not been so helpful.(3)The global Moran’s I index is significantly greater than zero,indicating a strong spatial correlation and agglomeration in the efficiency of industrial pollution control,which is reflected in high-high agglomeration in the eastern region and low-low agglomeration in the western region.(4)Stringent environmental regulation has a positive effect on improving the efficiency of industrial pollution control.It also imposes a positive spatial spillover effect,indicating a strategic interaction and coordination of regional pollution control.In line with this,related proposals have been made to optimize the investment structure for environmental pollution control,establish a flow mechanism for the factor market,and strengthen the environmental responsibility awareness of state-owned enterprises.On this basis,we expect to provide a policy for improving the efficiency of industrial pollution control and promoting regional joint pollution control in China.