Disentangling the drivers of renewable energy investments: The role of behavioral factors

The scope of this study is to investigate the main determinants of renewable energy investments in Greece. For this reason, we build an appropriate framework to infer the decision‐making process in the renewable energy sources (RES). The main drivers are then categorized under two groups as economic, and behavioral ones. In the next stage, we rely on binomial (logit and probit) and quantile regression analysis to estimate the impact of these factors on investment decisions towards RES. Our findings indicate that investors who gain better access to knowledge and exhibit a more positive attitude towards the contribution of artificial intelligence (AI) on the RES industry have a higher share of renewables in their portfolio. We argue that these investors are willing to invest a higher amount in the RES industry today. At the same time, quantile regression models illustrate that this relationship is nonmonotonic (i.e., inverted U shaped curve), arguing that positive attitudes towards the contribution of behavioral factors on RES are not adequate to encourage investments after crossing a certain point (threshold). Based on the empirical findings, we argue that the message to policymakers and government officials is to promote a faster penetration of low carbon technologies to achieve sustainable economic and social growth.     

中国省级区域国际旅游竞争力决定因素分析

基于理论分析提出了影响我国省级区域旅游目的地国际旅游竞争力的8个决定因素,即旅游资源、旅游资本、旅游业劳动力、政府作用、企业能力、旅游产业结构、基础设施和区位条件。以我国31个省(区)为样本,利用基于面板数据的多元线性回归分析方法,从实证角度定量研究了上述8个决定因素对省级区域国际旅游竞争力影响的显著性及其相对重要性。回归结果显示:我国各省(区)国际旅游竞争力来源的98.5%能够由8个决定因素解释;除旅游产业结构外,其他决定因素对各省级区域国际旅游竞争力的影响均在0.01的水平上显著。     

An empirical analysis of multiple services and choices of consumer in the Swedish telecommunications market

Received analyses state that firms can use a multiple services offering strategy to retain customers and capture new customers. Factors that determine the multiple services strategy include product discount, service provider and customer characteristics. Consequently, this study addresses the fundamental question: what are the key determining factors that explain the probability that a consumer buys multiple services? A generalized Poisson regression model is employed to examine whether the product discount, service provider, socio-economic variables and geographical location impact consumer decisions. Data from a national survey in 2009 commissioned by Post-och Telestyrelsen, the Swedish telecommunications regulator, are analyzed. The results clearly show that the discount, service provider and income of the consumer affect the consumer׳s buying decision. A consumer who receives a discount or has a high income is more likely to buy multiple services or select more services from the current service provider into his basket than a consumer who does not receive discount or has lower income. Service providers, cable TV operators and telecommunications carriers can also lock-in their consumer and expand their market position from one particular service to another using bundling service. Thus, this may be the time for the telecommunications regulator to consider the market definition.     

经济危机对我国经济的影响及政策建议

从2006年春李开始逐步显现并在2007年席卷美国的次贷危机给中国经济造成了很大的影响,首当其冲的是金融领域。2008年中国经济虽在国民经济的各个领域都有所下滑,但纵观全局,此次金融危机给金融领域造成的冲击更为严重,而对中国实体经济尚未造成严重的影响,通过对上市公司业绩的实证分析,来说明这一观点。由此提出政策性建议,政府 关键词：     

地方财政支出与地方经济增长关系的区域性分析——基于江苏沿海区域的面板数据经验研究

通过数理方法分析地方财政支出与地方经济增长的关系,并利用江苏沿海区域1999-2006年的相关数据建立面板数据模型实证研究,发现江苏沿海区域财政支出规模没有达到最佳,财政支出结构不尽合理。这试图为地方政府在发展地方经济过程中,对自身行为边界的把握和行为手段的选择提供理论依据。避免存在着经济职能的“缺位”、“越位”、“错位”问题。     

Measuring a boom and bust: The Sydney housing market 2001–2006

The Sydney housing market peaked in 2003. The period 2001–2006 is, therefore, of particular interest since it captures a boom and bust in the housing market. We compute hedonic, repeat-sales and median price indexes for five regions in Sydney over this period. While the three approaches are in broad agreement regarding the timing of the turning point in the housing market, some important differences also emerge. In particular, we find evidence of sample selection bias in our hedonic and repeat-sales data sets (with the former focusing more on better quality dwellings and the latter more on lower quality dwellings). These sample selection biases could in turn cause bias (in opposite directions) in our hedonic and repeat-sales indexes. Median indexes may likewise be biased as a result of an apparent decline in the average quality of dwellings sold in the latter part of the sample. We also find evidence of convergence in prices across regions during the boom and divergence in the subsequent bust.     

The evolving concepts of land administration in China: Cultivated land protection perspective

This paper presents a holistic method by integrating three concepts (land resources management, assets supervision and political governance for sustainability) for investigation of land administration in China, taking into consideration of cultivated land protection for a testimony with econometric method. Theoretically, in this self-organizing integrated method, land resources management focuses on the productivity of land; land assets supervision centralizes on the realization of land usufruct rights in land transference; land political governance for sustainability concentrates on harmonious linkage of economic efficiency, social stability and environmental safety of land use. Their interrelations are complex. Methodologically, the results indicate that the theoretical model is feasible to explain variations of cultivated land protection with these three concepts. Cultivated land decreases with increasing land value increment multiples, and is positive with political governance concept, but not in a linear fashion. Finally the results suggest that roles of government in land administration need to be changed and strengthened, supporting complete compensation for land expropriation and modification to policies of cultivated land.     

社保基金持股信息的市场反应——基于中国资本市场数据

在阐释社保基金及其投资情况和相关理论的基础上,采用超额收益法和多元回归分析法,分析我国资本市场对2009年四个季度和2010前两个季度公布的社保基金持股信息的反应。研究结果显示,资本市场对社保基金持股信息具有强烈的市场反应,被社保基金持股的上市公司股价超额收益非常明显。造成这种现象的原因除了社保基金管理者对股市精准把握外,我国资本市场的效率不足、信息不对称及社会保险基金会计信息披露的缺陷也是重要原因。因此,我国应加强公司治理,提高资本市场效率,规范社保基金会计信息披露。     

河北省农村基础设施建设的收入效应研究

运用1995～2008年的数据,采用ADF检验、协整检验等对河北省农民人均纯收入和农村用电量、农业基本建设投资额及农民家庭平均每户的交通运输、仓储和邮政业原值进行了实证分析。结果表明三者对农村经济增长具有不同程度的推动作用。政府应该通过明确农村基础设施供给中各级政府的职责,加大农村基础设施尤其是生产性基础设施的投资力度等措施来促进农村经济的发展。     

Forecasting China's GDP growth using dynamic factors and mixed-frequency data

Forecasting GDP growth is important and necessary for Chinese government to set GDP growth target. To fully and efficiently utilize macroeconomic and financial information, this paper attempts to forecast China's GDP growth using dynamic predictors and mixed-frequency data. The dynamic factor model is first applied to select dynamic predictors among large amount of monthly macroeconomic and daily financial data and then the mixed data sampling regression is applied to forecast quarterly GDP growth based on the selected monthly and daily predictors. Empirical results show that forecasts using dynamic predictors and mixed-frequency data have better accuracy comparing to traditional forecasting methods. Moreover, forecasts with leads and forecast combination can further improve forecast performance.