The Impact of the Digital Economy on Financial Regulatory Costs: An Empirical Analysis Based on the Solow Growth Model

As a novel economic form,the digital economy is reshaping the financial regulatory landscape and significantly impacting regulatory costs.This paper incorporates the digital economy and financial regulatory costs into the classic Solow growth model,uncovering an inverted U-shaped relationship between them.A subsequent mechanism analysis explains the rationale behind this relationship.To empirically examine this relationship in China,the paper utilizes inter-provincial panel data from 2013 to 2021 and employs methodologies such as the two-way fixed effects and moderating effects models.These analyses have important implications for the sound and sustainable development of China’s financial industry.The findings indicate:(a)As China’s digital economy develops,its impact on financial regulatory costs follows an inverted U-shaped pattern,initially increasing and then declining.This conclusion remains valid after robustness tests.(b)The influence of the digital economy on regulatory costs depends on favorable external conditions.Specifically,the impact is more pronounced in regions and periods with better digital infrastructure and more abundant human capital.(c)Additionally,redundant resources moderate this impact,which can weaken the inverted U-shaped relationship.Our findings not only provide a theoretical foundation for understanding the impact of the digital economy on financial regulatory costs but also offer valuable policy insights for optimizing financial regulation in China.

Research on the Digital Economy's Impact on China's Economic Growth:Based on the Variations in Urbanization Levels Across China's Eastern,Central,and Western Regions and Sectoral Heterogeneity

This paper uses inter-provincial panel data from 2011 to 2017,a linear regression model,and a threshold model to conduct empirical analyses of the impact of the digital economy on China's overall economic growth and the three main sectors of industry.The paper then investigates the impact and effects the digital economy has had on the economic growth of the three main sectors of industry in China's eastern,central,and western regions.Finally,the paper investigates the most significant differences among the various regions and the threshold effects of urbanization levels on the relationship between the digital economy and economic growth.The findings indicate a significantly positive correlation between the digital economy and regional economic growth.Moreover,geographical factors notably influence this correlation.The digital economy exerts a positive effect on all sectors of industry.It may not substantially impact industrial development in regions with highly developed infrastructure.Regarding the other regions,the digital economy exhibits varying degrees of impact due to the differences in the specific indicators.The conclusion drawn by the threshold model is that the magnitude of the threshold effect correlates with geographic factors.No threshold effect was observed in the eastern region,while the threshold effect occurred in the central region when the urbanization levels for the provinces were below 0.6645.Similarly,the threshold effect was noted in the western region when the urbanization level was below 0.3931.Considering all of this,the study also offers policy recommendations that will help balance the regional development of digital economies,accelerate the digital transformation of traditional industries,enhance digital infrastructure construction,refine the formulation and implementation of data policy,and establish relevant incentive mechanisms.

The Turkish Economy in the Period between 1990 and 2000 in the Light of the Open Economy Policies of the 1980s Developments

The structure of the economy seems to have been reshaped for the post-1980 period with the decisions of January 24,1980 and the structural changes that followed.In the 1980s,which can be called the transition process to a Free-Market Economy and an open economy,on the one hand,the privatization of state institutions and the determination of the prices of goods and services in free market conditions were tried to be ensured in order to withdraw the state from economic life,on the other hand,it was tried to grant freedom to foreign trade and capital movements.While these two main issues were being realized,the import substitution industrialization strategy was abandoned and the export-led growth model was started to be implemented.The last step of this process of opening up and liberalization was realized with the decision numbered 32 in 1989.While the change in the economic structure was achieved through domestic borrowing in the 1980s,with the liberalization of capital movements in the 1990s,it was seen that economic growth and development were tried to be achieved with hot money inflows rather than foreign direct investments.This orientation made the economy more open to crises,and for the first time there was a crisis in the form of the 1994 economic crisis,which was understood to be caused by hot money.The 1994 economic crisis could only be overcome by giving government guarantees to bank deposits and issuing high-interest Treasury Bills.Even the new banking regulations could not prevent the emergence of similar new economic crises in the following years.Because,we can say that the economic crisis experienced in the 2000s brought about a political transformation along with creating great economic problems.

Assessing the Contribution of Ecotourism to Economic Growth and Rural Development Offered by Wildlife Resources to People Living in Communities around Matusadonha National Park

Ecotourism is one of the major drivers of economic growth and rural development in many countries involved in wildlife resource management.The objective was to assess the contribution of ecotourism to economic growth and rural development offered to people living in communities around Matusadonha National Park.A total of 140 participants were interviewed and questionnaires were administered to the same number of people.Data were analysed using both qualitative and quantitative methods.Results show that the majority of participants(57%)were females.Safari operations were the major(54.7%)ecotourism activity in Matusadonha National Park.Above half(58.8%)of participants indicated that ecotourism contributed toward economic growth in communities around Matusadonha National Park.Most people(343)were employed on a part-time basis from 2000 to 2022.Participants indicated that the standard of living in most communities increased by more than 50%.Above 50%of participants were satisfied with the contribution of ecotourism towards rural development.It can be concluded that ecotourism has the potential to improve economic growth and rural development if close monitoring and accountability of funds are monitored closely.Local people should be included in the accountability of funds and management of wildlife resources to improve economic benefits to local people.

Examining the Experiences and Challenges of Haze-Fog Governance in China

With the rapid development of industrialisation and urbanisation, China is facing the challenge of severe HF (Haze-Fog) pollution. This essay compares the advantages and disadvantages of China’s HF management and summarizes the important lessons China can teach the rest of the world about applying this tactic. China’s capabilities in the digital economy, National Innovation Demonstration Zones, and urban innovation systems are examined in this article, along with its shortcomings in information mechanisms and pollution sources. This essay also summarizes China’s achievements, particularly regarding local autonomy. The essay goes on to say, however, that China is probably going to be under more pressure to manage HF in the future, both in terms of long-term solutions and the economy.

The relationship between energy consumption and economic growth and the development strategy of a low-carbon economy in Kazakhstan

Fossil energy is the material basis of human survival, economic development and social progress. The relationship between energy consumption and economic growth is becoming increasingly close. However, energy consumption is the major source of greenhouse gases, which can significantly affect the balance of the global ecosystem. It has become the common goal of countries worldwide to address climate change, reduce carbon dioxide emissions, and implement sustainable development strategies. In this study, we applied an approximate relationship analysis, a decoupling relationship analysis, and a trend analysis to explore the relationship between energy consumption and economic growth using data from Kazakhstan for the period of 1993-2010. The results demonstrated： （1） the total energy consumption and GDP in Kazakhstan showed a ＂U＂-type curve from 1993 to 2010. This curve was observed because 1993-1999 was a period during which Kazakhstan transitioned from a republic to an independent country and experienced a difficult transition from a planned to a market economy. Then, the economic system became more stable and the industrial production increased rapidly because of the effective financial, monetary and industrial policy support from 2000 to 2010. （2） The relationships between energy con- sumption and carbon emissions, economic growth and energy exports were linked; the carbon emissions were mainly derived from energy consumption, and the dependence of economic growth on energy exports gradually increased from 1993 to 2010. Before 2000, the relationship between energy consumption and economic growth was in a recessional decoupling state because of the economic recession. After 2000, this relationship was in strong and weak decoupling states because the international crude oil prices rose and energy exports increased greatly year by year. （3） It is forecasted that Kazakhstan cannot achieve its goal of energy consumption by 2020. Therefore, a low-carbon economy is the best strategic choice to address climate change from a global perspective in Kazakhstan. Thus, we proposed strategies including the improvement of the energy consumption structure, the development of new energy and renewable energy, the use of cleaner production technologies, the adjustment and optimization of the industrial structure, and the expansion of forest areas.

Analysis of the Impacts of Nongovernmental Economy on Nonagricultural Employment Growth in China

The importance of solving the employment problems by nongovernmental economy in China has aroused the concern of many scholars widely. However, few literatures could be found to deal with the impacts on nonagricultural employment growth in China by nongovernmental economy from several levels such as the whole nation, urban and rural. Based on the research accessed on the relationships between nongovernmental economy and em-ployment, the impacts of the development of nongovernmental economy on non-agricultural employment growth in China are emphasized in this paper. Taking time series data of non-agricultural employment in China’s different economy types in 1992–2005 as study objects, by establishing econometric re-gression models, some meaningful points are found as follows, the impacts of nongovernmental economy on the nonagricultural employment in either national or urban-rural level are rather sig-nificant although their impacts’ degrees are different. Based on the research findings above, some countermeasures are proposed to accelerate the nongovernmental economic development and im-prove its ability to absorb nonagricultural employment.

How to Sustain the Rapid Growth of China's Economy

Can the rapid growth of China’s economy be sustained? How is it to be sustained? This has become a hot topic in recent years arousing worldwide attention. To understand the reason for this much talked about topic, we have to look at the past 30 years of China’s development, and how it has become an important force in the world economy. Whether

An Analysis of the Influence of Chinese Agriculture on National Economy and the Macroeconomic Effects

As a basic industry,agriculture has a far-reaching impact on national economy. Based on input-output tables of China in 2005 and2010,this paper gives a deep insight into the relationship between agriculture and national economy and its macroeconomic effects by the methods of input-output analysis,industrial correlation and macroeconomic effect analysis. The results show that the agricultural development is highly dependent on the national economy,but makes low contribution; agriculture contributes to promoting employment and improving the structure of national income distribution; despite the government's tax incentive,the agricultural equipments are updated slowly,and the corporate profits are at low level; agricultural export effect is far below the average industry level,but the import effect increases over the years,and final products are often used for domestic consumption. Finally,we set forth recommendations for improving the development of agriculture and national economy.

Crossing the Growth Threshold： Service-Based Economy, Knowledge Process and Reshaping of Efficiency Model

The transition from middle-income to high-income stage is fraught with risks of growth divergence. Economic transition is clouded by the following possibilities： （1）falling share of industrial seetor through industrial depression and weakening growth momentum caused by the large urbanization costs; （2） the subordination of service sector as a result of nearly irreversibly industrial professional, which falters the process of service sector transition and upgrading,＂ （3） inefficient knowledge production allocation and human capital upgrade due to the absence of incentivized compensation of knowledge consumption. We suggest that a country should reshape its efficiency model by upgrading knowledge factor and human capital as the pre-requisite. Given the dilemmas of transition, China should take the faetorization trend of service sector and reshape efficiency model through institutional reform, ensuring that service sector will develop in tandem with industrial sector.

Study on Contribution Degrees of Hubei Equipment Manufacturing Industry to the National Economy

The paper analyses and researches the contribution degrees of Hubei equipment manufacturing industry to the national economy. Using econometric methods, it carries out regression and empirical research, and finds that the contributions of Hubei equipment manufacturing industry to the national economy is very obvious in recent years, however there is plenty of room for development.

A NATIONAL SYSTEM OF INNOVATION TO BE BUILT FOR WELCOMING THE ERA OF KNOWLEDGE ECONOMY

Editor’s note: Not long ago, CAS headquarters put forward a proposal entitled "A national innovation system (NIS) to be built up towards the era of knowledge economy (KE)" in a bid to plot a chart for China’s development in the next century. The suggestion was highly valued by the CPC Central Committee and here we publish an extracted translation of its full text.

Stamp Duty Tax and Growth of Economy:Evidence from Nigeria

This study looked at the impact of the Nigerian stamp duty tax on the growth of the economy.Time series data were employed spanning the years 1999-2020.For various years,related data were extracted from the Central Bank of Nigeria Statistical Bulletin,the Bureau of National Statistics,and Federal Inland Revenue Service reports.E-view 9.0 was used to test the hypothesis using the ordinary least square.The study outcome revealed that stamp duty has an insignificant and positive impact on Nigeria’s economic growth.It was recommended that the government improve public entities and provide strong government investment as a source of domestic revenue generated from various business activities.

Is the Long-term Economic Decline of the Philippines Unstoppable? Trends, Reasons, Outlook

The Philippines was in the 1960s a model of development in Asia and second to Japan,but occupies presently only the 11th position under South-East and East Asian countries in terms of GDP-per capita.The article explores why this important Asian country with a long colonial past and enormous economic potential still ranks under lower-income countries and has in the last decades let pass by many other Asian countries.In answering this question,the approach of external triggers for accelerated development is being applied.In stark contrast to the success stories of the strongly outward-looking Asian countries like the four Tigers,later of Thailand and Vietnam the Philippines never developed a vision of an open economy connecting pro-actively to the world markets.Trade is hampered by a non-competitive and highly protected national economy.The existing FDI is more oriented to the profitable local markets.Foreign debts were never effectively used and international tourism was never well promoted.Linking these failures to the existing power structures in the country,it seems very much that the backward forces like the big landowners,the local producers and industrialists never wanted and continue not to want to open up the economy to international competition and governments are complacent with these groups.Various indicators demonstrate the long-term decline of the Philippines:Among them the slow growth of the GDP and the continuously high poverty rates.As the alliance of big business and policy holds firm no change in the failing nationalistic economic model can be detected leaving the bleak outlook that the economic decline will continue.

System Schema Analysis of County Economy Talents Shortages Based on the Perspective of Returning-home Entrepreneurship

According to the discussion of domestic scholars on county talents,we know that the researches concerning county human resources mainly focus on discussing the problems such as the total amount,distribution,quality and introduction of county talents though the analysis of coordination between talents and county economic development,and the research of relationship between industry adjustment and talents need.However,there have no relevant documents about the analysis and discussion of county talents problems based on system schema theory.In view of this reality,on the basis of the introduction of the system schema theory propounded by management guru Peter Senge,we conduct the feedback schema analysis of the restricted factors of talents shortages during county economic development;establish the growth limits schema of county talents system;analyze the functioning mechanism of the total amount,distribution,quality and introduction of county talents on the development of county economy;discuss the relationship between the individual quality,social relation and emotional need of returning-home start-up,and talents resource shortage;propose the countermeasures and suggestions to mitigate the shortage of county talents,in order to optimize the allocation of county human resources,and promote the county's economic development.

Research on the correlation between regional economic growth and culture industry of our nation

For a nation, culture is not only the promotion and enhancement to the national spirit and the realm of life, but also an essential content and indispensable support force to achieve economic development, it is the important cause and prominent of the overall strength and the main carrier and specific embodiment of a nation＇s ＂soft power＂, besides, it also represents the degree of civilization, level of development and height of this nation. Culture and cultural industry endow with the modern culture with new meaning, it requires that at the time we achieve the prosperity and development of culture, we must actively explore and operate a scientific mechanism which is most able to release the energy of the culture and play cultural efficiency, and then develop the industrial pathway of the cultural. Cultural industry is a little different from the general industry. This causes the special natm-e of the cultural industry which is different from other industries. Different water and soil raised different people, inheriting national culture and developing cultural industry can be described as the unity of the three ones.

Research on the Impact of Industrial Agglomeration and Structural Upgrade on County Economic Growth under the New Normal Condition-Based on the Empirical Study of 101 County Counties in Jiangsu and Zhejiang Provinces

In this paper, the method of generalized moments of data and systems for 101 counties in Jiangsu and Zhejiang Provinces is used to analyze the impact of industrial agglomeration and industrial structure upgrading on county economic growth. The real diagnosis result indicated that, the industry gathers with the industrial structure promotes has the forward function to the county territory economic growth rate, in the sample time that had not discovered the industry gathers to the economical growth existence non-linearity in？ uence. On the other hand, the industrial structure promotes to the county territory economy long-term growth power is stronger, later period should break through the present stage in the manufacturing industry mature county territory through the industrial structure promotion strategy the industry to glide down.

The Quantitative Law of Network Information Growth

Based on the assumptions of ＂information transfer＂ and ＂information creation＂, this paper educes the multiplied growth mechanism of network information： that the gross quantity of network information （Im） is about n times as much as the quantity of real network information （Ir）. According to this theoretical model, we give a uniform explanation to all kinds of information growth models in existence, and put forward some proposals, such as ＂forbidding information transfer＂ and ＂building up the central information base＂, to control the repeated information flooding on the network and facilitate the full use of network information.

Overall National Economy Maintained Stable in the First Two Months

In the first two months of 2019,the economy performed within the reasonable range and maintained a generally stable and growing momentum;a positive trend has gradually been unveiled.The service industry grew steadily and the modern service industry developed fast In the first two months, the Index of Services Production increased by 7.3%year on year, maintaining the same speed as in December 2018.