In search of marginal environmental valuations — ecosystem services in Finnish forest accounting

There is currently substantial interest in valuing various services provided by different ecosystems. Concurrently economists have ascribed substantial effort on expanding traditional forest accounting systems by environmental services. This paper contributes to curtailing the existing gap between green accounting theory and applications for valuing forest ecosystem services. The multitude of links between forest ecosystem services and economy are characterized by the theoretical model for forest-economy interactions. By utilizing recently updated data we also incorporate empirical value estimates of these services comparable to other goods into Finnish forest accounting system. Finally, we discuss some problems encountered and clarify the interpretation of some value estimates incorporated to national forest account.     

中国船舶工业绿色全要素生产率及影响因素分析——基于ML生产率视角对“波特假说”的再检验

选用船舶工业宏观数据和资源环境约束等作为基础数据,运用方向性距离函数和ML指数测算了中国船舶工业绿色全要素生产率(Total Factor Productivity),通过面板模型系统考察了环境规制、技术进步对中国船舶工业绿色全要素生产率的作用。发现从长远来看,绿色全要素生产率呈增长趋势且具有明显的收敛特征,技术进步和技术效率共同推动船舶工业绿色全要素生产率的增长,但整体上绿色全要素生产率低于传统全要素生产率。运用动态面板模型分析中国船舶工业绿色全要素生产率的影响因素,结论表明:较高的技术水平能显著提高绿色全要素生产率,而对国际市场的过度依赖阻碍了船舶工业绿色全要素生产率的增长。环境规制对船舶工业绿色全要素的增长已经带来"补偿效应"从而提高了中国船舶工业的国际竞争力,为考察船舶工业绿色竞争力提供了新的视角。     

新农业革命与农业的21世纪

战后60年代第一次农业革命（绿色革命）的兴起·显著地推动了世界经济的发展。近年来，生物技术革命的风起云涌，又引起一场新农业革命（白色革命）的悄然兴起。新农业革命（基于白色农业）必将导致农业结构从自然型向人工型转换，从而在21世纪内将实现现代农业转向“未来大农业”的结构重组。21世纪必将是农业的新世纪。     

中国国内生产总值与教育之间关系的实证分析

本文从柯布-道格拉斯生产函数入手,将劳动力按受教育程度划分为四类分别进行处理。主要就中国国内生产总值(GDP)与各等教育程度劳动力和投资之间关系进行单整和协整检验,并建立误差修正模型(ECM),然后在协整条件下对各等教育程度劳动力与GDP的长、短期关系进行分析。文章的实证结果将为我国有关部门的政策决策提供有力依据。     

绿色农业的农村妇女道路研究

妇女作为人类生命的孕育者，对人类赖以生存的地球环境，有着息息相关的感情和强烈的责任意识，从而更容易成为环境保护的理论先驱和积极实践者。本文阐述了农村妇女与绿色农业的内在关联，认为构建绿色农业必须要大力开发农村妇女这一人力资源。     

浅议企业绿色物流及发展对策

本文首先分析企业物流对环境的影响，阐述了绿色物流的内涵及对企业的重要意义，并提出了发展绿色物流的对策。     

中国GDP最终消费的长期均衡与短期波动的协整分析

本文依据协整理论和误差修正模型 ,测定了我国GDP最终消费与国内生产总值、价格水平及利率之间的长期均衡关系和短期波动效应 ,并对当前消费需求疲软做出了新的解释     

论绿色GDP核算的两大功能

绿色GDP核算主要有两大功能:记账功能和管理功能.记账功能主要由资产形成核算和流量核算来体现;管理功能主要体现为,依据绿色GDP核算的记账功能所反映出的信息,为评价、制定或改革经济政策和环境政策提供支持,实现公共自然资源的合理开发和可持续利用.     

绿色GDP与我国产业结构调整

实行并追求绿色GDP是落实科学发展观的要求。本文从调整国民经济发展战略出发，剖析了我国目前经济发展模式存在的问题，指出了绿色GDP对于实现农业的可持续发展、新型工业化以及促进第三产业发展的重要作用，并提出了相关建议，以期对相关部门的决策提供参考。     

Do investors in Green Bond market pay a premium? Global evidence

We examine the pricing difference of Green Bonds (GB) and conventional bonds (CBs) in capital markets worldwide. Credit spread is used to observe whether investors would like to pay a premium for GBs over CBs. This study uses panel data regression with hybrid model to analyse daily observations over the period 2016 to 2017. We employ Option-Adjusted spread (OAS) to measure the credit spreads of bonds while controlling for bond specific, macroeconomic and global factors that influence the spread. With the hybrid model used in the panel data analysis, we were able to capture the fixed-effects of variables in a random effect model. We find that GBs are traded at a premium of 63 basis points (BPS), compared with a comparable corporate bond issue. We find that the green label provides issuers an incentive to raise funds through issuing GBs while providing investors an opportunity to diversify their investments returns. Our findings provide several implications to the major stakeholders driving the GB market to scale up the market to finance the required level of global green investment needs. We stress an urgent need to support the growth of the GB market to achieve sustainable development through mitigating climate change challenges.

Abbreviation GB: Green Bond; CB: Conventional Bond; YS: Yield Spread; BPS: Basis Points; OAS: Option-Adjusted Spread; PCSE: Panels Corrected Standard Errors; CPI: Consumer Price Index; GBPs: Green Bond Principles; CBS: Climate Bond Standard