Investment Promotion for Development Zones in China:Underlying Rationale and Policy Options

Development zones(DZs)have emerged as a significant policy initiative for promoting regional coordination and facilitating resources allocation.They serve as an organizational framework for fostering industrial agglomeration and driving high-quality development.DZs attract and accommodate resource factors,firms,and projects,thereby functioning as a central catalyst for economic growth.This study utilizes data collected at the“DZ,City and Countrycountry”levels through manual compilation,textual analysis,and innovation measurement.It aims to empirically examine the theoretical rationale and practical preferences for promoting business and investment in China’s DZs.This study considers several factors such as industry attribute,firm attribute,agglomeration theory,and industrial chain layout.Based on our research findings,DZs exhibit distinct preferences.First,industry attribute:DZs align with both national and regional strategic planning and adhere to the industrial endowments of the respective areas.Second,firm attribute:DZs prioritize attracting firms that are productive and innovative,and have an international presence,rather than those that primarily contribute to taxes and job creation.Third,DZs are guided by the agglomeration theory,which suggests that they prefer firms that generate strong agglomeration externalities.Lastly,DZs also consider the industrial chain layout,aiming to attract firms that not only align with their existing industrial strengths but also extend to the upstream and downstream supply chain links.These conclusions are substantiated by the performance of robustness test.The success of DZs in China can be attributed to the five key principles:Adherence to national and regional strategic planning,prioritizing the actual industrial foundation,incorporating the theory of agglomeration externalities,strengthening corporate competitiveness,and expanding industrial chains.

Employment and development levels in rural areas of the Russian Federation

The development of agro-industrial complex is important for ensuring national food security and national health.The development of rural areas is subject to the development of agriculture and local infrastructure,as well as the availability of various services.This study selected 15 indicators in 2021 to analyze the employment and development levels in rural areas of 71 regions of the Russian Federation using the analytical grouping method.The results indicated that 20 regions(Group 1)had the highest percentage of rural population(33.10%).The percentage of population engaged in agriculture had the highest value(12.40%)in 31 regions(Group 2).Moreover,20 regions(Group 3)had the highest investments in fixed assets at the expense of municipal budget(11.80 USD/person).Increasing the investments in fixed assets carried out from the budget of the municipality can improve the employment level in rural areas.Then,we used cluster analysis to divide 14 regions of the Volga Federal District in the Russian Federation into 3 clusters.Cluster 1 covered Kirov Region and Republic of Mari El;Cluster 2 included Ulyanovsk Region,Saratov Region,Nizhny Novgorod Region,Perm Territory,Orenburg Region,Chuvash Region,and Republic of Mordovia;and Cluster 3 contained Republic of Tatarstan,Samara Region,Udmurtian Republic,Penza Region,and Republic of Bashkortostan.Results indicated that the 2 regions of Cluster 1 need to increase the availability of resources and natural gas and improve the investment attractiveness of rural areas.The 7 regions of Cluster 2 needed to develop infrastructure,public services,and agricultural production.We found the highest employment level in rural areas,the largest investments in fixed assets at the expense of municipal budget,the largest residential building area per 10,000 persons,and the largest individual residential building area in the 5 regions of Cluster 3.This study makes it possible to draw up a comprehensive regional development program and proves the need for the development of rural areas,which is especially important for the sustainable development of the Russian Federation.

National Social Investment Programmes in Nigeria:A Descriptive Analysis of the Socio-Economic Contributions of N-Power Programme in Benue State

This study analysed the socio-economic contributions of N-Power programme amongst the beneficiaries of the scheme in Benue State.Prior to the introduction of N-Power programme,successive administrations in Nigeria have made concerted efforts towards improving the standard of living of the citizenry through the execution of various welfare or social intervention programmes,but not much successes were recorded.Learning from the mistakes of the past regimes,and by way of deliberate state policy,the Buhari’s government initiated a multi-pronged social investment policy,one of which is the N-power programme that came onboard in 2016,which also doubles as the subject of this study.To achieve the goal of this study,a combination of desktop research and survey design was employed.Questionnaires were administered to 390 respondents through a combination of stratified and random sampling techniques.The results of the survey were matched with that of the secondary data obtained through online websites and other related sources.The result indicated that N-Power made positive contributions to the socio-economic life of the beneficiaries in Benue State:specifically,the scheme contributed in poverty eradication,employment generation,skills acquisitions and capacity building.However,some aspect of our findings revealed that the programme has a number of challenges such as:inadequate cash support,delay in monthly cash transfer to beneficiaries,distance participants had to move to their work stations,absence of posting in N-Teach scheme,and lack of adequate working tools amongst others.To salvage this problem the paper recommended the following solutions:expansion of the scheme to cover N-Teach and other aspects,increment in the monthly cash transfer to cushion the high rate of inflation,support for the participants/beneficiaries in transportation and logistics,enrolment of more youth into the various schemes,proper monitoring and evaluation of the implementation of the schemes amongst others.

An Evaluation of the Investment for Child Development in China

Objective This study estimated the investment in child development from three aspects-public health, public education, and family investment to establish the level of investment, to provide reference information for government decision making and to provide international comparisons. Methods Public investment in health was measured with macro data related to public health spending and child development in government expenditure. Public education investment was based on basic education data. Family investment evaluation was based on per capita family consumer spending data in different age groups to estimate the input for child development. Results Both public health investment level and the proportion of GDP rose for all age groups over time, but the overall investment level was still insufficient. Public investment in children＇s education has increased year by year, but the trends in all age groups are unbalanced with much lower investment in early childhood education. Private investment in children has increased over the period, but has declined as a percentage of GDP. International comparisons show that China＇s investment in child development is much lower than OECD countries. Conclusion The private investment in child development was the main way in China, with public finance contributing only a small proportion. Given the poor international comparisons, the government needs to review the balance of public investment to redirect more towards the development of children under the age of six to their health and education.

A hybrid heterogeneous Pythagorean fuzzy group decision modelling for crowdfunding development process pathways of fintech‑based clean energy investment projects

This study aims to evaluate the crowdfunding alternatives regarding new service development process pathways of clean energy investment projects.In this framework,a new model has been generated by considering the consensus-based group decisionmaking with incomplete preferences,Pythagorean fuzzy decision-making trial and evaluation laboratory(DEMATEL)and technique for order preference by similarity to ideal solution(TOPSIS).Moreover,a comparative evaluation has been performed with Vise Kriterijumska Optimizacija I.Kompromisno Resenje methodology and sensitivity analysis has been made by considering 4 different cases.The main contribution is to identify appropriate crowdfunding-based funding alternatives for the improvement of the clean energy investments with a novel MCDM model.By considering the iteration technique and consensus-based analysis,the missing parts in the evaluations can be completed and opposite opinion problems can be reduced.Furthermore,with the help of hybrid MCDM model by combining DEMATEL and TOPSIS,more objective results can be reached.It is concluded that the analysis results are coherent and reliable.The findings indicate that the full launch is the most significant criterion for equity and debt-based crowdfunding alternatives.On the other side,the analysis has the highest weight for reward and donation-based alternatives whereas design is the most essential item regarding the royalty-based alternative.Additionally,it is also defined that equity-based crowdfunding alternative is the most significant for the service development process of clean energy investment projects.In this way,it will be possible to provide a continuous resource for clean energy investment projects.On the other hand,by providing financing with equity,there will be no fixed financing cost for clean energy investors.If these investors make a profit,they distribute dividends with the decision of their authorized bodies.

China’s BRI Transportation Investments:Development Bonanza or Debt Trap?

Based on the China Global Investment Tracker(CGIT)database of 2005-2018,this paper creates a country-sector-year panel set for a study on the BRI’s investment effects on the transportation sector of BRI countries using the difference-in-differencesin-differences(DDD)method.Our study finds that the BRI has significantly increased transportation investments by Chinese companies in the BRI countries without causing significant rise in problem transactions.The"debt trap"narrative that the BRI aims to take control over host countries’sovereign rights in exchange for debt write-offs is not supported by evidence.Discussions on sub-samples reveal that the BRI has mainly propelled SOEs in making transportation investments to generate development effects in host countries,most of which are Asian countries,and that the preferred mode of investment is cross-border M&As.

Financial sector development and Investment in selected countries of the Economic Community of West African States: empirical evidence using heterogeneous panel data method

This study investigated the impact of financial sector development on domestic investment in selected countries of the Economic Community of West African States(ECOWAS)for the years 1985–2017.The study employed the augmented mean group procedure,which accounts for country-specific heterogeneity and crosssectional dependence,and the Granger non-causality test to test for causality in the presence of cross-sectional dependence.The results show that(1)The impact of financial sector development on domestic investment depends on the measure of financial sector development utilised;(2)Domestic credit to the private sector has a positive but insignificant impact on domestic investment in ECOWAS,whereas banking intermediation efficiency(i.e.,ability of the banks to transform deposits into credit)and broad money supply negatively and significant influence domestic investment;(3)Cross-country differences exist in the impact of financial sector development on domestic investment in the selected ECOWAS countries;and(4)Domestic credit to the private sector Granger causes domestic investment in ECOWAS.The study recommends careful consideration in the measure of financial development that is utilised as a policy instrument to foster domestic investment.We also highlight the importance of employing country-specific domestic investment policies to avoid blanket policy measures.Domestic credit to the private sector should be given priority when forecasting domestic investment into the future.

Alternative measure of financial development and investment-cash flow sensitivity:evidence from an emerging economy

This study examines the impact of financial development on corporate investment in terms of their influence on financing constraints.This study also tries to find the effect of financial development on the investment-cash flow sensitivity across the size,degree of financial constraints and group affiliation of the firm.This study employs dynamic panel data model or more specifically system generalized method of moments(GMM)estimation technique.The estimation results reveal that cash flow affects the investment decision of the company positively,which implies that Indian firms are financially constrained.Also,we observe that financial development reduces the investment-cash flow sensitivity and the effect of financial development is more prominent for small size and standalone firms.The results are robust across the period and,for both financially constrained and unconstrained firms.This study contributes to the existing literature by analyzing the impact of financial development on the role of cash flow in determining investments undertaken by the Indian firms,which is an unexplored issue from an emerging market perspective.

INVESTMENT FUND INDUSTRY IN CHINA : ITS PRESENT SITUATION,PROBLEMS AND DEVELOPMENT

This paper examines the present situation of China's investment fund industry and some main problems in its development. The authors conclude that the rapid growth of the nation's financial assets and the establishment of a social insurance system provide a good prospect for the development of investment funds in China. Especially, “Government Bond Fund” and “Joint Fund” are expected to be established in the near future.

Influence of foreign direct investment from China on achieving the 2030 Sustainable Development Goals in African countries

The lack of funding is one of the most important challenges in achieving the 2030 Sustainable Development Goals(SDGs)in African countries.Can foreign direct investment(FDI)from China as an important source of external financing help African countries achieve their SDGs?This study used the panel data random effects model to analyze the influence of China’s direct investment on SDG scores.Then,the study conducted the ordered probit model to examine the influence of FDI from China on the trend of achieving each SDG in Africa,with the SDGs being grouped into social,economic,and environmental dimensions.Results showed that China’s direct investment contributed to the achievement of SDGs in Africa.FDI from China positively influenced the SDG score in general and some of the 17 SDG scores including SDG 7(Affordable and Clean Energy),SDG 8(Decent Work and Economic Growth),SDG 9(Industry,Innovation,and Infrastructure),SDG 12(Responsible Consumption and Production),SDG 13(Climate Action),and SDG 15(Life on Land).The relationship between FDI from China and the trends for SDG 7,8,9,11(Sustainable Cities and Communities),and 14(Life below Water)was significantly positive.However,the SDG scores above belonged to the economic and environmental dimensions,whereas FDI from China had no significant influence on the social-dimension SDG scores and trends.To further expand the scale of China’s direct investment,more investment scopes,particularly those in the social dimension,should be developed.Moreover,China-Africa cooperation should be deepened to create a good investment environment for the achievement of African countries’SDGs and to facilitate China’s implementation of promoting the development of developing countries as mentioned in the 2030 Agenda of Sustainable Development and building the China-Africa community with a shared future.

Theory of Capital,Investment and Exchange Rate:A New Developmentalist Equation

The article deals with the relationship between the decision to invest and the exchange rate. The literature relates investment at interest rate. An increase in the interest rate would reduce the investment expenditure. Jorgenson’s equation uses the flexible accelerator model, taxation, and the cost of capital to explain and predict the amount of investment in machinery and equipment. The relationship between the exchange rate and the investment appears in the literature as a direct relation. An appreciated exchange rate allows the importation of cheaper machinery and equipment and increases productive investments. This paper proposes a modified equation in which the appreciated exchange rate inhibits productive investments by reducing the expectation of profit, either because the domestic market becomes more competitive or because exports decrease. It still incorporates in the model of Jorgenson the idea that the unit cost of labor is the relevant variable to explain the choice of investing, assuming a function of production of fixed coefficients.

Discussion on Irrigation Development and Its Investment Focus in Tanzania

This paper describes the significance of irrigation on economy development and the status of irrigation development in Tanzania, analyzing the potential and advantages of irrigation development in this country, combined with the major initiatives and experiences which can learn from in the recent 30 years of rural water conservancy in China. Then it discusses the next investment focus on irrigation development for Tanzanian.

Public Investments as a Development Tool

The role of public investment and its substantial contribution to economic growth and the quality of life of citizens is now being reaffirmed internationally,creating a trend towards enhancing the relative public spending.This paper analyses this role at international and European level,while it examines especially the case of Greece;having undergone a significant period of shrinkage over the years of the memorandums,the Public Investment Program(PIP)has again shown a tendency to increase its resources and its importance.Greece makes an important reform effort,which must take into account that,in order to keep track of current global trends and prospects,Public Investment Programs are now called for to be reconciled with new development models as well as new,internationally accepted rules of proper governance and financial management.In this context,they should also act as catalysts for further supporting and strengthening private investment.

Deepening China's Investment System Reform——The State Development Investment Corporation

The Chinese government set up the State Development Bank against the background of the Chinese economic system being transformed from planned to market. In May 1995, the State Development Investment Corporation was established. Does this mean that China’s investment system reform is advancing at a much

Make Your Fortune In Shenzhen Fuyutian Investment & Development Ltd.

Shenzhen Fuyutian Investment & Development Ltd. Is a multinational company dealing with international trade. It is located in Shenzhen, which is only one hour’s ride from Hong Kong. It possesses a fifteen-story intellectual building office rooms,

Prospect for strategic minerals exploration and development,investment environment and cooperation in Mozambique

Mozambique is an essential country in the Belt and Road Initiative,and it is also to cooperation between China and with Africa in energy resources.It is located in the critical node of the“East Africa Channel”and close to the“African Twin Ocean Railway”,which is an important strategic position.Mozambique has abundant mineral resources and vast reserves of advantageous minerals.The natural gas reserves of Mozambique ranked second in Africa.It also has world--class scale graphite and rich iron,gold,copper,niobium-tantalum and other resources.In recent years,the mining industry in this country has been rising and attracting many foreign companies to invest,including international mining giants such as Vale,Rio Tinto and large mining enterprises of China.This paper systematically studies the mineral resources endowment,exploration and development situations of natural gas,graphite,titanium-zircon placer deposits,niobium-tantalum,gold,iron and other strategic minerals in Mozambique,comprehensively analyzes the mining investment environment and the current situation of exploration and development of Chinese enterprises in Mozambique,and replans four safeguard areas of strategic mineral resources in critical short supply.Mozambique generally has good prospects of mining investment and a stable foundation for cooperation with China.Chinese enterprises can focus on oil and natural gas,graphite,titanium,zirconium,niobium,tantalum,and iron,which complement the needs of China,expand the mining capacity cooperation,and improve the ability to secure strategic mineral resources supply.

Education Investment Fixed Asset Investment and Regional Economic Development Differences--Empirical analysis based on Chinese

In this article,it discusses the di£ferences in economic development between urban and rural areas and regions in our country from the perspective of education investment and fixed asset investment.Based on the provincial data of 31 provinces from 1999 to 2017 released by National Bureau of Statistics,it expends the Cobb-Douglas model and Lucas model,and analyses the data with multiple linear regression models.From the study,it finds that compared with investment in fixed assets,investment in education has a larger role in promoting economic development,which is more obvious in the underdeveloped central and western regions and rural areas.However,at the same time it needs to note that the positive effects of education investment will be restricted by the economic structure and policy environment,and education expenditure policies should also be implemented in accordance with time and local conditions.