Financial Resources Allocation and Its Economic Impact in Belt and Road Countries

The purpose of this paper is to explore a model of efficient allocation of financial resources in China and other Belt and Road countries to ensure it plays the most effective economic role.In terms of financial resources,this paper uses a fixed effects model to conduct an empirical study of 2006-2019 panel data on the financial resources of Belt and Road countries.The paper finds that the role of financial resources varies from country to country along the Belt and Road.1) In some regions,increased bank credit is playing a less important role in driving the economy;2) Securities markets have an important role in promoting economic growth;3) The insurance industry has great potential for economic development;4) Foreign direct investment has boosted economic development.Hence we need to face up to the fact that the role of financial resources in economic growth varies from country to country along the Belt and Road,so we need to formulate the corresponding strategies to optimize financial resources and promote the sustainable development of Belt and Road economies.

Government Intervention and Support on SMEs Firm Performance

The small and medium enterprise firms are renowned for improving the na­tion’s economy through the provision of job opportunities for its populace,improving the financial and investment status of the countries and provi­sion of innovative products that meets the need of the people.SMEs are key players in the economy,through sustainable development goals(SDGs)enabling them to thrive in the open business environment and actively applying the digital transformation,promoting inclusive and sustainable in­dustrialization should be the core of any country government.This research is designed to explore the influence of government intervention and support on enterprise performance and growth in five business sectors-Hospitality,Education,Health care,Bottled Water Production and Transport and Logis­tics organizations.The research paper had a descriptive research design with a randomly selected sample size of one hundred and ninety-seven respondents.The research hypotheses were tested using(Factor Analysis and Ordinal Logistic Regression Analysis)with Statistical Packages for Social Science(SPSS)version 25.The results of the study reveal that gov­ernment intervention policies and intervention programmes when instituted will promote the growth of business firms in Nigeria.Also identified are relevant recommendations that serve as motivation for policy administra­tors,entrepreneurs,and business managers to ensure that relevant interven­tion programme is adopted to boost performance and growth of the SME sector in Nigeria.

The Effect of "Pressure-Type" Fiscal Incentives on Industrial Restructuring in China

The optimization and upgrading of industrial structure is the driving force to build a new development pattern and improve the quality and efficiency of economic development.China's"pressure-type"fiscal incentives(PTFIs)are an important perspective from which the law of industrial structure change can be analyzed.Based on the dynamic panel data of 285 cities in China and the behavioral characteristics of local governments,this paper explores the effects of PTFIs on industrial restructuring using the GMM estimation method.It is found that PTFIs are conducive to improving the"quantity"of industrial structure upgrading(ISU),but not conducive to improving the"quality"of ISU or the rationalization of industrial structure(RIS).Mechanism identification reveals that,with PTFIs,local governments influence industrial restructuring mainly by"expanding financial resources with land"(EFRWL)and increasing the intensity of tax collection and management(ITCM).Further discussion reveals that a higher degree of fiscal decentralization and environmental regulation can effectively alleviate the negative impact of PTFIs on industrial restructuring.Accordingly,this paper puts forward some policy recommendations to promote the balanced development of industrial structure,such as improving the institutional conditions and standardizing the behavior of local governments.