Application of Bayesian Econometrics in Policy Evaluation

This study explores the application of Bayesian econometrics in policy evaluation through theoretical analysis. The research first reviews the theoretical foundations of Bayesian methods, including the concepts of Bayesian inference, prior distributions, and posterior distributions. Through systematic analysis, the study constructs a theoretical framework for applying Bayesian methods in policy evaluation. The research finds that Bayesian methods have multiple theoretical advantages in policy evaluation: Based on parameter uncertainty theory, Bayesian methods can better handle uncertainty in model parameters and provide more comprehensive estimates of policy effects;from the perspective of model selection theory, Bayesian model averaging can reduce model selection bias and enhance the robustness of evaluation results;according to causal inference theory, Bayesian causal inference methods provide new approaches for evaluating policy causal effects. The study also points out the complexities of applying Bayesian methods in policy evaluation, such as the selection of prior information and computational complexity. To address these complexities, the study proposes hybrid methods combining frequentist approaches and suggestions for developing computationally efficient algorithms. The research also discusses theoretical comparisons between Bayesian methods and other policy evaluation techniques, providing directions for future research.

Econometric Modeling and Model Falsification

A recent literature on qualitative analysis has shown that its successful application in testing the consistency of the sign patterns of a proposed structure and an estimated reduced form was far less restricted than a previous literature had proposed. A frequent example used in this demonstration was the qualitative analysis of Klein’s Model I. For this, the proposed structural sign pattern was falsified by the sign pattern of the estimated reduced form. As a result, the subsequent application two-stage least squares would always find quantifications of the structure that could not possibly have resulted in the sign pattern of the estimated reduced form. We view this result as a diagnostic calling for further analysis. We show that the Klein model fails standard over identification tests. We make modest amendments to the model that resolves this problem but find that the resulting estimated reduced form still falsifies the structure, calling for further developmental effort. Our point is that qualitative falsification should be viewed as a diagnostic in developing a model, rather than a criterion for entirely dismissing the model.

Examine the Reliability of Econometrics Software: An Empirical Comparison of Time Series Modelling

Researchers must understand that naively relying on the reliability of statistical software packages may result in suboptimal, biased, or erroneous results, which affects applied economic theory and the conclusions and policy recommendations drawn from it. To create confidence in a result, several software packages should be applied to the same estimation problem. This study examines the results of three software packages (EViews, R, and Stata) in the analysis of time-series econometric data. The time-series data analysis which presents the determinants of macroeconomic growth of Sri Lanka from 1978 to 2020 has been used. The study focuses on testing for stationarity, cointegration, and significant relationships among the variables. The Augmented Dickey-Fuller and Phillips Perron tests were employed in this study to test for stationarity, while the Johansen cointegration test was utilized to test for cointegration. The study employs the vector error correction model to assess the short-run and long-term dynamics of the variables in an attempt to determine the relationship between them. Finally, the Granger Causality test is employed in order to examine the linear causation between the concerned variables. The study revealed that the results produced by three software packages for the same dataset and the same lag order vary significantly. This implies that time series econometrics results are sensitive to the software that is used by the researchers while providing different policy implications even for the same dataset. The present study highlights the necessity of further analysis to investigate the impact of software packages in time series analysis of economic scenarios.

Causal inference using regression-based statistical control: Confusion in Econometrics

Regression is a widely used econometric tool in research. In observational studies, based on a number of assumptions, regression-based statistical control methods attempt to analyze the causation between treatment and outcome by adding control variables. However, this approach may not produce reliable estimates of causal effects. In addition to the shortcomings of the method, this lack of confidence is mainly related to ambiguous formulations in econometrics, such as the definition of selection bias, selection of core control variables, and method of testing for robustness. Within the framework of the causal models, we clarify the assumption of causal inference using regression-based statistical controls, as described in econometrics, and discuss how to select core control variables to satisfy this assumption and conduct robustness tests for regression estimates.

Econometric Study of Relationship between Change of Farmland Quantity and Policy of Farmland Protection in China

According to the data from Investigation Report of Land Use Change in China,The Land Resources Communique of China and Chronicle of Statistical Data for Five Decades of New China issued from Ministry of Land Resources,we select two indices:change of farmland quantity and policy of farmland protection.According to econometric theory,by using Eviewes 5.1 software,co-integration analysis,Granger causality test,impulse response and other analysis methods,we analyze the relationship between change of farmland quantity and policy of farmland protection in China since the reform and opening-up.The results show that there is long-term balanced relationship between change of farmland quantity and policy of farmland protection,and there is a certain mechanism restricting motion of variables between the two so as to make the two deviate from each other little and step towards balance in the long run;there is unilateral causality relationship between farmland change and policy of farmland protection,namely that the farmland change is the Granger cause of policy of farmland protection,while policy of farmland protection is not the Granger cause of farmland change;impulse response and variance decomposition indicate that farmland change plays the role of promoting policy of farmland protection continuously,and the role is strengthened along with prolonged lag period;the policy of farmland protection has strong inertia,because it is impacted by the former level of itself,and the policy of farmland protection plays insignificant role in promoting farmland quantity.Consequently,the important approach of solving problem of rapid decrease of farmland is to formulate long-term strategy,strengthen theoretical research of farmland protection and reinforce degree of formulation,implementation and surveillance of farmland protection policy.

Analysis of spatial distribution characteristics and driving factors of ethnicminority villages in China using geospatial technology and statistical models

This study aims to reveal the spatial structural characteristics of 1,652 Ethnic-Minority Villages(EMV)in China and to analyze the mechanisms driving their spatial heterogeneity.EMV are a special type of settlement space that preserve a large number of historical traces of the ethnic culture of ancient China.They are important carriers of China’s excellent traditional culture and are key to the implementation of rural revitalization strategies.In this study,1652 EMV in China were selected as the research subjects.The Nearest Neighbor Index,kernel density,and spatial autocorrelation index were employed to reveal the spatial structural characteristics of minority villages.Neural network models,spatial lag models,and geographical detectors were used to analyze the formation mechanism of spatial heterogeneity in EMV.The results indicate that:(1)EMV exhibit significant spatial differentiation characterized by“single-core with multiple surrounding sub-centers,”“polarization between east and west,”“decreasing quantity from southwest to east coast to northeast to northwest,”and“large dispersion with small agglomeration.”(2)EMV are mainly distributed in areas rich in intangible cultural heritage,with high vegetation coverage and low altitude,far from central cities,and having limited arable land and an underdeveloped economy and transportation,particularly in shaded or riverbank areas.(3)Distance from the nearest river(X3),distance from central cities(X8),national intangible cultural heritage(X9),and NDVI(X10)were the main driving factors affecting the spatial distribution of EMV,whereas elevation(X1)and GDP(X5)had the weakest influence.As EMV are a relatively unique territorial spatial unit,the identification of their spatial heterogeneity characteristics not only deepens the research content of settlement geography,but also involves the assessment,protection,and development of Minority Villages,which is of great significance for the inheritance and utilization of excellent ethnic cultures in the era.

Influence of Sino-US Agricultural Trade on China’s Total Agricultural Output Value Based on Cointegration Model

According to the data of the total trade of agricultural products between China and the United States from 2009 to 2018 and the general description of agriculture in China,this paper adopts the method of econometric model to make a detailed analysis of the agricultural trade between China and the United States by using cointegration analysis,Granger causality test and error correction model in order to explore the impact of agricultural trade between China and the United States on China’s agricultural development. The results of empirical analysis show that there is a balanced relationship between the trade of agricultural products between China and the United States and the development of agriculture in China. The total trade of agricultural products between China and the United States affects the development of China’s agriculture.In addition,in the short term,if the short-term fluctuation deviates from the long-term equilibrium,then the error correction term will reverse it with strength of 0. 378,so that the non-equilibrium state will gradually return to the equilibrium state.

Regional Agricultural Input-Output Model and Countermeasure for Production and Income Increase of Farmers in Southern Xinjiang,China

Agricultural input and output status in southern Xinjiang,China is introduced,such as lack of agricultural input,low level of agricultural modernization,excessive fertilizer use,serious damage of environment,shortage of water resources,tremendous pressure on ecological balance,insignificant economic and social benefits of agricultural production in southern Xinjiang,agriculture remaining a weak industry,agricultural economy as the economic subject of southern Xinjiang,and backward economic development of southern Xinjiang.Taking the Aksu area as an example,according to the input and output data in the years 2002-2007,input-output model about regional agriculture of the southern Xinjiang is established by principal component analysis.DPS software is used in the process of solving the model.Then,Eviews software is adopted to revise and test the model in order to analyze and evaluate the economic significance of the results obtained,and to make additional explanations of the relevant model.Since the agricultural economic output is seriously restricted in southern Xinjiang at present,the following countermeasures are put forward,such as adjusting the structure of agricultural land,improving the utilization ratio of land,increasing agricultural input,realizing agricultural modernization,rationally utilizing water resources,maintaining eco-environmental balance,enhancing the awareness of agricultural insurance,minimizing the risk and loss,taking the road of industrialization of characteristic agricultural products,and realizing the transfer of surplus labor force.

Toward a sustainable growth path in Arab economies:an extension of classical growth model

Background/Objectives:Many economies are on the trajectory of alternative growth drivers other than conventional capital and labor.Access to credit facilities is a pertinent indicator of economic growth.In line with the United Nations Sustainable Development Goals(UNSDGs-8)agenda,the national goal for sustainable development for most economies and Arab economies is no exception.Therefore,the current study adopts a traditional growth model by exploring the relationship between gross domestic product(GDP)per capita,credit for private sectors,ratio of exports,real GDP,and per labor force participants for selected Arab economies annually from 2001 to 2020.Research design:This study leverages the Fourier Kwiatkowski–Phillips–Schmidt–Shin(KPSS)unit root test and second-generation panel econometrics as estimation techniques,such as Westerlund and Edgerton panel cointegration test,and the use of two estimators,namely the augmented mean group(AMG)and common correlated error mean group(CCEMG),to obtain robust results.Findings:Empirical findings from Westerlund and Edgerton panel cointegration tests validate the long-run equilibrium relationship among the outlined variables.Further empirical results indicate that the share of exports is negatively significant with economic growth in countries such as Kuwait,Lebanon,Tunisia,and Jordan.Additionally,savings and labor force participation have a positive relationship with economic growth in individual countries such as Algeria and Bahrain.As per the panel,there is no significant relationship between labor force participation and economic growth.This indicates that the skilled labor force enhanced economic growth.Conclusions:These findings come with inherent far-reaching policy suggestions for economies and panels.Further details on country-specific policy actions are presented in the concluding section.

Impact of regional human capital and urban sprawl on forest——based on a forest conservation model

Metropolitan cities in China have become a major economic hubs with an unprecedented increase of land use and decline of environmental resources. Based on a simple and abstract forest conservation model, this paper attempts to explain changes of forest resources caused by urban sprawl. Through the research, it is found that high level of regional human capital is beneficial to curb urban sprawl. In this vein the model presents the urban forest conservation cost strategy at the Nash equilibrium of varied discount factor and parameter control.

对外开放对全国统一大市场建设的影响研究:基于我国市场分割的视角

双循环新发展格局下,进一步扩大对外开放将成为我国构建全国统一大市场的关键。在分析对外开放影响全国统一大市场建设的理论机制基础上,选取2005—2020年中国省级面板数据,构建空间计量模型,检验对外开放对我国市场分割产生的空间溢出效应,并通过中介效应模型对理论机制进行检验。研究表明:对外开放能显著降低本地区的市场分割程度,具有正向的空间外溢效应;理论机制检验进一步发现,对外开放通过国企股份制改革、基础设施建设以及提高地区经济发展水平三条路径打破市场分割局面,对全国统一大市场建设产生积极效应。

Estimation Methodology of Short-term Natural Rubber Price Forecasting Models

This study developed a short-term econometric model of world natural rubber price Standard Malaysia Rubber Grade 20 （SMR20）. Both single and simultaneous equations were utilized using monthly data from January 1990-December 2008 as estimation period and data from January 2009-June 2009 was used as an ex-ante forecast. The data were tested for unit root and Vector Error Correction and co-integration method was used to estimate the parameters of the model. The models specifications were developed in order to discover the inter-relationships between NR production, consumption and prices of SMR20 and to determine forecast price of SMR20. Comparative analysis between the single-equation specification and simultaneous supply-demand and price equation were made in terms of their estimation accuracy based on RMSE, MAE and （U-Thile） criteria. Ex-ante forecasts was carried out for the period of January 2009-June 2009. The results revealed that the values of the RMSE, MAE and U of simultaneous supply-demand and price equations model were comparatively smaller than the values generated by the single-equation model. These statistics suggest that the simultaneous equation of supply-demand and price model is more accurate and efficient measure in terms of its statistical criteria than the single-equation model in predicting the price of SMR20 in the next 6 months.

Modelling of Corporate Exposure at Default(EAD)in Emerging Financial Markets:The Case for Counters Listed on the Zimbabwe Stock Exchange(ZSE)in the Dollarization Era

This study explores the Exposure at Default(EAD)emanating from credit events undertaken by listed banking corporations trading on emerging markets,such as Zimbabwe’s Stock Exchange(ZSE)or market in the dollarization era,namely period 2010-2012.The dollarization of the Zimbabwean economy in 2009 coincided with the recovery of the global financial economy from the worst worldwide economic recession ever experienced in this world.The study used audited and published data drawn from financial statements of two banking corporations for the period 2010 to 2012 that were accessible on ZSE website.These data were presented and analyzed using Eviews7.The study revealed that there were a lot of non-performing loans drawn from EADs of banking corporations trading on the ZSE in the period under review.The study further noted that credit exposures issued by commercial banks in the period 2010-2012 were also exposed to risk from the nature of the borrowers,banks’internal and external market variables.The variables that impacted on banks’credit exposures include political,social,industrial,unemployment,technological challenges,state of financial markets,their capitalization and liquidity statuses.We therefore conclude that banks in emerging markets need to efficiently and effectively manage their credit portfolios in their desire to grow towards sustainable development.The study also concludes that banks in emerging markets that are into lending activities should adopt and implement financial econometric(EAD)models that are easy to apply,practical,pragmatic,and adjusted for market friction.The study recommends that listed banking corporations in emerging markets need to adhere to the requirements of the Basel Ⅱ and Ⅲ Capital Accords if they are to make meaningful business out of their credit exposure operations.It also recommends that banks should come up with capitalization and investment strategies that suit their economic conditions if they are to grow and develop sizeable market shares and wealth from their lending businesses.Finally the study recommends that banks in emerging economies should adapt to international business standards,strategies,ethics,and corporate governance parameters if they are to grow towards greater similarity with those in developed nations in their service delivery to the stakeholders and contribution to nation building and sustainable development.

财政分权、地方政府行为与经济绿色转型

依据2009—2019年省级面板数据,运用空间计量模型和中介效应模型,考量财政分权对经济绿色转型的影响。结果显示:财政分权促进本地经济绿色转型作用显著,但会阻碍相邻地区经济绿色转型进程。地方政府行为在二者之间发挥着中介作用,财政分权主要通过促进地方政府合理竞争、提高地方政府财政科技投入强度促进经济绿色转型,提高财政分权程度会强化地方保护主义行为,但地方保护主义行为对经济绿色转型的影响不显著。

Modelling Recycling Targets:Achieving a 50%Recycling Rate for Household Waste in Denmark

Within the European Union (EU) a paradigm shift is currently occurring in the waste sector, where EU waste directives and national waste strategies are placing emphasis on resource efficiency and recycling targets. The most recent Danish resource strategy calculates a national recycling rate of 22% for household waste, and sets an ambitious goal of a 50% recycling rate by 2020. This study integrates the recycling target into the FRIDA model to project how much waste and from which streams should be diverted from incineration to recycling in order to achieve the target. Furthermore, it discusses how the existing technological, organizational and legislative frameworks may affect recycling activities. The results of the analysis show that with current best practice recycling rates, the 50% recycling rate cannot be reached without recycling of household biowaste. It also shows that all Danish municipalities will need to make efforts to recover all recyclable fractions, and that the increased recycling efforts of only selected municipalities will not be sufficient to reach the target.

绿水青山就是金山银山:生态环境对旅游经济影响的空间计量检验

“绿水青山就是金山银山”揭示了生态环境和经济发展的关系,探究生态环境质量对旅游经济的影响效应,有利于二者比翼双飞与协调发展。以2004-2019年中国31个省(直辖市、自治区,不含港澳台地区)为研究对象,利用空间自相关和空间面板杜宾模型探究生态环境质量对旅游经济的影响效应。结果表明:(1)生态环境质量和旅游经济发展的空间集聚性显著,空间关联性不断增强。(2)生态环境质量不仅对本地区旅游经济发展具有明显的促进作用,对相邻地区也具有溢出效应与示范作用。(3)生态环境质量作为影响旅游经济发展的重要因素,但不能忽略接待设施、资源禀赋、劳动力投入、物质资本、经济发展水平等多维要素的综合作用。要综合考量这些要素,才能促进“绿水青山”向“金山银山”的转换,实现生态环境与旅游经济的协调、健康、高效发展。

知识产权国内贸易对“双循环”有效联动的影响效应

基于知识产权国内贸易、“双循环”有效联动的时空演化特征分析发现,二者发展变化具有显著的内在逻辑一致性。理论分析认为,知识产权国内贸易可以通过加快高水平自主创新、激发高品质消费需求等,对“双循环”有效联动产生显著的促进作用。进一步利用2001—2020年中国省级面板数据开展的计量检验结果表明,第一,知识产权国内贸易对“双循环”有效联动具有积极促进作用;第二,由于知识产权国内贸易、“双循环”有效联动水平存在显著的空间溢出效应,因此,知识产权国内贸易对“双循环”有效联动的促进作用不仅发生在本地区,而且对相邻地区的“双循环”有效联动也有积极促进效应;第三,知识产权国内贸易对“双循环”有效联动的促进作用,因各地区对外开放程度、人力资本水平、城镇化水平、消费水平和知识产权保护水平的差异而存在一定的“门槛特征”。上述研究不仅有助于深化认识知识产权国内贸易对“双循环”有效联动的现实影响和作用机制,而且对于如何通过加强知识产权国内贸易推动“双循环”互促互进也有重要的政策意义。

人口负增长趋势下乡村人口变动对乡村产业振兴的作用机理及空间效应研究

人口负增长趋势下我国乡村地区面临严峻的人口形势,直接影响到乡村振兴战略的实施。研究以2011—2020年全国30个省(自治区、直辖市)面板数据为基础,运用空间计量模型研究乡村人口变动对乡村产业振兴的影响机理及空间溢出效应。研究发现:(1)人口负增长使乡村地区劳动人口减少,消费市场萎缩,投资意愿下降,对产业振兴起到明显抑制作用;(2)乡村人力资本提升、乡村劳动力资源增加及乡村老龄化水平加深均可促进产业振兴的实现;(3)人口负增长、乡村人口变动对乡村产业发展存在空间溢出效应。应通过人才引进、优化劳动力配置等措施来积极应对人口负增长给乡村地区带来的挑战。

农户种植饲草料投入产出及种植行为影响因素研究——以内蒙古巴彦淖尔市杭锦后旗和磴口县为例

国内消费结构及农业结构调整背景下,中国畜牧业迅速发展,饲草料需求不断增加,但是国内饲草料供应不足、安全问题凸显。在“粮改饲”试点旗县进行实地调研,了解当地农户饲草料种植的投入产出情况,利用Logit、2SLS及LIML模型对农户种植饲草料行为的影响因素进行实证研究。结果显示,调查区域农户种植的饲草料主要以青贮玉米、苜蓿及燕麦草为主,种植苜蓿草的经济效益比其他饲草料高,2021年苜蓿草纯收益可达22 005元/hm^(2),比青贮玉米和燕麦草分别高出4 590元/hm^(2)元和12 180元/hm^(2),但是农户种植饲草料尤其苜蓿草的积极性并不高。探究农户选择种植饲草料行为的影响因素,发现政策激励、土地禀赋及组织制度因素对农户饲草料种植行为有显著的正向影响,提出政府应该尽快建立完善的土地流转市场体系,助力农户扩大种植规模,顺利进行种植业结构调整,加大饲草料种植面积,促进为养而种的良性循环,解决养殖业饲草料短缺问题以及鼓励各类合作社发挥合作制度优势,帮助农户降低种植饲草料的投入成本,拓宽饲草料的销售渠道,增加农民收入的对策建议。

数字经济如何赋能区域创新能力的提升?

基于2013—2020年省份的面板数据,分别构建了数字经济和区域创新能力的测度指标体系,运用空间杜宾模型分析数字经济发展对区域创新能力的影响。研究结果表明,数字经济发展显著促进区域创新能力提升,对区域创新实力、创新效率和创新潜力均有显著积极作用。同时,数字经济对区域创新能力具有显著的空间溢出效应,不仅提升本地区的创新能力,而且能够带动邻近地区创新能力的提升。进一步分析发现,金融发展水平和市场化程度是数字经济赋能区域创新能力的两条重要路径。异质性分析结果显示,相较于东部地区,数字经济发展对西部地区创新能力的改善效果显著。研究结论为新时代促进区域创新空间优化与协调发展提供理论支撑和政策建议。