The Relationship between Urbanization and Domestic Energy Consumption:An Empirical Study of Shandong Province,China

The rapid development of urbanization has led to a rapid increase in total energy consumption.The proportion of domestic energy consumption to total energy consumption has gradually increased and has become the major driving force for energy consumption.With the pressure from urbanization and domestic energy consumption,it is necessary to study the impact of urbanization on domestic energy consumption of the regional level and to explore the function paths of these two factors.The findings are helpful to realize sustainable development based on the actual situation analysis,horizontal survey data and statistical yearbook panel data.The current situation and changing trends in domestic energy consumption of Shandong Province are systematically examined through field investigation and survey questionnaire.The time-series econometric model is applied to analyze the relationship between urbanization rate and total domestic energy consumption.The research results show that the total domestic energy consumption and urbanization rate of Shandong are generally increasing.The urbanization rate development and domestic energy consumption have a long-term stable and balanced relationship.An increase in urbanization rate can cause an increase in domestic energy consumption.There is a slight difference between the average total energy consumption levels of urban and rural residents,but their energy consumption structures differ a lot.These findings provide basic data support and reference for local governments to formulate energy-conservation and emission-reduction policies.

The ASEAN experience of the purchasing power parity theory

We used panel data analysis to evaluate the relative purchasing power parity(PPP)hypothesis of the ten ASEAN member countries between 1973 and 2015.We incorporated the cross-sectionally augmented panel unit root test as proposed by Pesaran(J Appl Econ 22:265-312,2007).For panel cointegration analysis,we employed the four error-correction-based Westerlund(Oxf Bull Econ Stat 69:709-748,2007)panel cointegration tests.The Westerlund(Oxf Bull Econ Stat 69:709-748,2007)tests are general enough to permit a large degree of heterogeneity,both in the long-run cointegrating relationship and in the short-run dynamics,and dependence within as well as across the cross-sectional units.To check the robustness of the results,we further estimated the cointegration test excluding Indonesia and Brunei.The findings support our initial results.Further,all the results overwhelmingly support the relative PPP hypothesis.Consequently,the monetary authority would be able to implement a self-regulating monetary policy.It would also be able to control the exchange rates.

Effects of Trade Liberalization of the Host Country on the Inflow of FDh An Empirical Study on China

In general terms, either complementation relationships or substitution relationships may exist between the foreign trade of a country and its inflow of FDI. The present paper intends to reconstruct an analysis frame on the relationships between the foreign trade and inflow of FDI of China since its reform and opening to the outside world. Results from measurement and analysis indicate that there are cause-and-effect relationships between China＇s foreign trade and inflow of FDI.

Research on the Relationship between Salary Incentives for R&D Personnel and R&D Investment in China’s Pharmaceutical Industry

Objective To explore the relationship between salary incentives for R&D personnel and R&D investment in China’s pharmaceutical industry through an empirical analysis so as to propose suggestions for increasing more R&D investment from the perspective of stimulating R&D personnel.Methods Based on the relevant data of the China’s pharmaceutical industry in the“China High-tech Industry Statistical Yearbook”and other data from the National Bureau of Statistics from 1995 to 2018,co-integration tests was used to construct error correction models and Granger causality tests to explore the relationship between R&D personnel salary incentives and R&D investment.Results and Conclusion There is a long-term balanced relationship between the salary level of R&D personnel in China’s pharmaceutical industry and the investment of R&D.For the per capita salary of R&D personnel increases by 1 unit,the internal expenditure of R&D investment will increase by 2.2451 units.In the short term,the per capita salary of R&D personnel has a slight negative impact on the internal expenditure of R&D investment.In addition,the salary incentives for R&D personnel have the most significant role in promoting R&D investment after five years of implementation.

The Environmental Kuznets Curve and Spatial Pattern of Environmental-Economy in China:Evidence from a Panel Cointegration Test

基于中国1985～2007年30个省级行政区环境污染与经济增长面板数据,运用面板协整工具和动态最小二乘法(DOLS)对环境库兹涅茨曲线进行了实证检验。结果显示我国工业废气污染、工业废水污染和工业固体废弃物污染变量与经济增长变量之间存在长期协整关系,且变量间均呈现出显著的倒U形环境库兹涅茨曲线关系,而EKC转折点并没有出现在过低的水平上;其后基于检验结果探讨了我国环境-经济空间格局,部分东部发达省区已经越过或接近3种污染物EKC的转折点,然而我国大部分的中西部省区并未越过EKC转折点甚至距离较远。目前我国仍面临巨大的环境压力,在减排方面需要花费巨大的经济成本。我国环境经济政策的制定应根据各种不同情况因地因时制宜。

Impact of Different Forms of Interest Rate Differential on the Flexible Price Monetary Model

In this paper, in order to investigate whether the impact of different forms of interest rate differential may pass on to the flexible price monetary model, two flexible price monetary models, which are separately derived from the generalized monetary models with log-level interest rate differential and that with interest rate differential, are tested for China yuan to US dollar exchange rate. Through Johansen maximum likelihood method, we find that there is little support in the cointegrating coefllcient estimates for both flexible price monetary models for yuan/dollar exchange rate. However, the latter is generally better than the former in the light of sum of squared residual and log likelihood statistics. Therefore, we conclude that there is no transitive impact of different forms of interest rate differential on the flexible price monetary model.