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。

Urbanization,economic growth,and carbon dioxide emissions in China:A panel cointegration and causality analysis

Elucidating the complex mechanism between urbanization, economic growth, car- bon dioxide emissions is fundamental necessary to inform effective strategies on energy saving and emission reduction in China. Based on a balanced panel data of 31 provinces in China over the period 1997-2010, this study empirically examines the relationships among urbanization, economic growth and carbon dioxide （CO2） emissions at the national and re- gional levels using panel cointegration and vector error correction model and Granger cau- sality tests. Results showed that urbanization, economic growth and CO2 emissions are inte- grated of order one. Urbanization contributes to economic growth, both of which increase CO2 emissions in China and its eastern, central and western regions. The impact of urbanization on CO2 emissions in the western region was larger than that in the eastern and central re- gions. But economic growth had a larger impact on CO2 emissions in the eastern region than that in the central and western regions. Panel causality analysis revealed a bidirectional long-run causal relationship among urbanization, economic growth and CO2 emissions, in- dicating that in the long run, urbanization does have a causal effect on economic growth in China, both of which have causal effect on CO2 emissions. At the regional level, we also found a bidirectional long-run causality between land urbanization and economic growth in eastern and central China. These results demonstrated that it might be difficult for China to pursue carbon emissions reduction policy and to control urban expansion without impeding economic growth in the long run. In the short-run, we observed a unidirectional causation running from land urbanization to CO2 emissions and from economic growth to CO2 emissions in the eastern and central regions. Further investigations revealed an inverted N-shaped re- lationship between CO2 emissions and economic growth in China, not supporting the envi- ronmental Kuznets curve （EKC） hypothesis. Our empirical findings have an important refer- ence value for policy-makers in formulating effective energy saving and emission reduction strategies for China.

On the nexus of environmental quality and public spending on health care in China:a panel cointegration analysis

Does pollution drive up public spending on health care?This paper aims to answer such a crucial question empirically using a panel data set of 31 Chinese provinces during the period 1997–2014.In particular,this paper explores the non-stationarity and cointegration properties between health care expenditure and environmental indicators in a panel cointegration framework;in doing so,it examines both the long-run and the short-run impacts of the per capita provincial GDP,waste gas emissions,dust and smog emissions,and waste water emissions on the per capita public health expenditure.We apply panel unit root tests,heterogeneous panel cointegration tests,FMOLS techniques,and a panel-based error-correction model.The conclusion is that,both in the long run and in the short run,public health care expenditure is positively affected not only by the provincial economy but also by the environmental quality.

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.

Does Working Capital Cause Profitability？ --The Nigerian Experience

The paper investigates the long run relationship and causality issues between working capital and profitability in 66 firms in Nigeria by using the panel cointegration method for the period 1999-2007. The empirical results show that there is long run steady-state relationship between working capital and profitability. However, the short run causal relationship runs from working capital to profitability suggesting that inefficient working capital management may harm profitability.

Reconnoitering the Sustainable Relationship between Revenue Income and GDP:A Comparative Study of Asymmetric Countries in the World

This paper applies panel unit root test,country Pedroni cointegration test(PCT),Phillips-Peron cross section test(PPCST),vector error correction test and Johansen normalized cointegrating test(JNCT)for estimates the coefficients in the short-run and in the long-run to examine the inter-temporal relationship between the government revenues income and GDP.The paper took into account fifteen asymmetric countries with three income groups over the period from 2001 to 2016.The study justified the long run relationship between the articulated variables in the country PCT and the test results unearthed that four statistics out of seven on different indexes exhibited one percent level of significance.In the upper middle income country category,other than Brazil and Sri Lanka,rest of three countries showed a long run relationship,i.e.the study outcome reconnoitered the existence of a long run relationship between the two articulated variables.Decisively,the outcome of JNCT suggests that in the long run if the government revenue upsurge one percentage point then GDP growth rate will rise 0.037 and 0.28 percentage point for the countries that belong to high income and the upper middle income respectively.Meanwhile,the test find a negative result that allied to lower middle income nations,GDP growth rate will plummet 0.039 percent point due to one percent rise in revenue income.

Fiscal Sustainability:Public Revenue-Expenditure Nexus in a Few Asymmetric Countries in the Globe

This article examines the public revenue and expenditure patterns and its nexus of a few countries.This paper employs panel unit root,panel cointegration and Vector Error Correction Model to analyze the inter-temporal association among the variables of government revenues,expenditures and the growth of GDP through the panel data of ten divergent nations over the period 2001 to 2017.The study exercised three cointegration tests and these estimates find the evidence of long run association among articulated three variables.To know the cross-section status of different nations this paper diverted Phillips-Peron test with bandwidth statistics and it asserted that,all ten countries secured the long run association among the variables.The study uncovered that,growth of GDP has escalated in 0.78%by one percentage increase in revenue expenditure;meanwhile,1.41%lessening in GDP growth by one percentage increase in revenue income.The specified model is supported by a few diagnostic tests.