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Trade Openness for Developing Nations: A Charade or Desideratum for Viable Commodity Export Performance
Edward Ogbonnia Eleje,
Okechukwu Agha Eze,
Ishiaku Irom Agabi
Issue:
Volume 8, Issue 1, February 2020
Pages:
1-8
Received:
6 December 2019
Accepted:
23 December 2019
Published:
4 January 2020
Abstract: Openness to trade is one basic factor spotted as major determinant of whether a country is prone to sudden stops in capital inflow, product glut, or severe economic recession. To some researchers, trade openness raises vulnerability to sudden shocks and creates difficult economic scenario; to others, it makes adjustment to crises less painful and stimulates effective economic performance. It is on the premise of the foregoing arguments that this study sought to evaluate the effect of trade openness on primary commodity export trade. To achieve this, the study utilized disaggregated oil and nonoil primary commodity export data and Gross Domestic Product (GDP) from Nigeria for a period of 30 years (1989-2018). Data were first subjected to diagnostic tests aided by STATA econometric to check the presence of unit root, multicollinearity and autocorrelation. Cointegration analysis was performed using Johanson and Juselius maximum likelihood estimation. Diagnosed data were regressed to generate optimal multivariate estimators of the cointegrating parameters at 95% level of confidence. Trade openness was negative but not significant on nonoil export. It was however positive but not significant on oil export. The paper concludes that while trade openness could be permissible on oil export in Nigeria, it is a charade on nonoil export. The study therefore recommends among other things the adoption of partial openness policy in developing nations especially Nigeria such that will involve the employment of liberal trade in the oil export subsector and trade protection in the nonoil subsector respectively.
Abstract: Openness to trade is one basic factor spotted as major determinant of whether a country is prone to sudden stops in capital inflow, product glut, or severe economic recession. To some researchers, trade openness raises vulnerability to sudden shocks and creates difficult economic scenario; to others, it makes adjustment to crises less painful and s...
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Analysis on the Environmental Governance Efficiency of Local Governments in China and Its Influencing Factors
Qinyun He,
Chuan Tian,
Ke Gao
Issue:
Volume 8, Issue 1, February 2020
Pages:
9-19
Received:
23 November 2019
Published:
4 January 2020
Abstract: In this paper, the Three-stage DEA model and Malmquist index method are used to measure the environmental governance efficiency and total factor productivity of 113 cities in China from 2014 to 2017. The empirical results of the Three-stage DEA model show that foreign investment, industrial structure, economic development level, population density, financial pressure and other external factors do have an impact on the efficiency of environmental governance of local governments in China, and seriously underestimate the comprehensive technical efficiency, pure technical efficiency and scale efficiency of environmental governance of local governments. After eliminating the influence of environmental factors and random interference, most cities still have efficiency loss caused by ineffective management. The results of DEA Malmquist index show that the total factor productivity of environmental governance of local governments in China is less than 1 during the sample observation period, which is mainly due to the fact that the comprehensive technical efficiency has not improved and the rate of technological progress has regressed during the observation period. Provincial capital cities suffer more losses than non provincial capital cities due to inefficient resource allocation and management. Therefore, in order to improve the efficiency of environmental governance of local governments in China, we should first improve the efficiency of resource allocation, attach importance to the rational allocation of the scale of resources invested in environmental governance, improve the efficiency of resource allocation and use, and avoid resource waste; secondly, improve the awareness of environmental protection of local governments, and reduce Finally, increase investment in technological innovation, encourage institutional innovation, improve the rate of technological progress, and promote the improvement of total factor productivity.
Abstract: In this paper, the Three-stage DEA model and Malmquist index method are used to measure the environmental governance efficiency and total factor productivity of 113 cities in China from 2014 to 2017. The empirical results of the Three-stage DEA model show that foreign investment, industrial structure, economic development level, population density,...
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The Impact of Fiscal Expenditures on Vulnerability to Poverty of Rural Households and Its Mechanism-based on Evidence from CHIP Data
Issue:
Volume 8, Issue 1, February 2020
Pages:
20-30
Received:
8 December 2019
Accepted:
27 December 2019
Published:
9 January 2020
Abstract: China's governments at all levels have played a significant role in reducing the absolute poverty through fiscal expenditure arrangements. At present, China has become the country with the strongest efforts and the most significant effect to fight against poverty in the world. However, the governance of poverty is not only simply to solve the existing poverty problem, but should take preventive measures from a certain forward-looking perspective, strengthen the family's ability to resist risks, and reduce the probability of poverty from the root cause. This paper empirically examines the impact of China's fiscal educational expenditure, fiscal social security and employment expenditure, and fiscal health expenditure on vulnerability to poverty of rural households by using the CHIP2013 micro-survey data, and analyzes its mechanisms. The vulnerability value is calculated according to the VEP method, and we identify whether the counties where the households are located are national poverty counties so as to distinguish the effects. The poverty vulnerability level of farmers in national poverty-stricken counties is significantly higher than that of non-poverty-stricken counties. The baseline regression results show that all three kinds of fiscal expenditures can significantly reduce the vulnerability of farmers. Health care expenditure has the strongest effect. Social security and employment expenditure has a stronger effect on the vulnerability of farmers in national poverty-stricken counties than non-poverty-stricken counties. Then, the explained variables are replaced with dummy variables that are vulnerable at 50% threshold, and the Probit model is used for robustness testing to prove that the baseline regression results are credible. Finally, this paper examines the mechanism by which fiscal expenditure affects the vulnerability of farmers, and verifies that it affects the vulnerability of household poverty by affecting individual employment decisions.
Abstract: China's governments at all levels have played a significant role in reducing the absolute poverty through fiscal expenditure arrangements. At present, China has become the country with the strongest efforts and the most significant effect to fight against poverty in the world. However, the governance of poverty is not only simply to solve the exist...
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Optimal Distribution Strategy for Movie Product
Issue:
Volume 8, Issue 1, February 2020
Pages:
31-38
Received:
22 November 2019
Published:
3 February 2020
Abstract: Motion picture companies are increasingly providing movies online. We develop a model to examine optimal distribution strategies for the movie studio. The studio can release the movie through the traditional channel (i.e. theatre) or online channel and has to decide the distribution strategy. When the studio is vertically integrated with the exhibitor, our results indicate that in the presence of a relatively low cost of using a traditional channel, the dual-channel strategy exists and generates the highest profit. However, when the cost is relatively high, the online channel strategy becomes the best strategy. When the studio is not vertically integrated with the exhibitor, when the studio’s commission share is low, the studio will adopt the dual-channel strategy if the traditional channel cost is low and the quality difference is large. If not, the studio will adopt the online channel strategy. When the studio’s commission share is moderate, the studio will adopt the dual-channel strategy if the traditional channel cost is low and the quality difference is large, the studio will adopt the dual-channel strategy if the traditional channel cost is low and the quality difference is moderate, otherwise, the studio will adopt the online channel strategy. When the studio’s commission share is large, the studio has more motivation to adopt traditional strategy.
Abstract: Motion picture companies are increasingly providing movies online. We develop a model to examine optimal distribution strategies for the movie studio. The studio can release the movie through the traditional channel (i.e. theatre) or online channel and has to decide the distribution strategy. When the studio is vertically integrated with the exhibi...
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Financing Mechanism for Social Long-Term Care Insurance: A Theoretical Analysis Framework
Sun Jie,
Hu Xinyi,
Jiang Yuezhu
Issue:
Volume 8, Issue 1, February 2020
Pages:
39-48
Received:
13 January 2020
Accepted:
31 January 2020
Published:
13 February 2020
Abstract: The financing mechanism is an important component of social long-term care insurance, its stability and sustainability have a vital significance in keeping the healthy and efficient operation of social long-term care insurance. In order to carry out an in-depth study on the financing mechanism of social long-term care insurance, this article makes an analysis of each of the links and key points involved in the financing in accordance with the whole process of the social long-term care insurance financing and on the basis of summarizing the existing literature regarding the definition and connotation of the financing mechanism of social long-term care insurance. On such basis, it establishes the financing mechanism element framework of social long-term care insurance, by which it then explores the practices and experiences of the typical countries with social long-term care insurance and the advanced areas of China. Finally, in view of the common points and reform tendency of the construction of foreign countries’ social long-term care insurance financing mechanism, this paper puts forward some policy suggestions for the construction of China’s social long-term care insurance financing mechanism.
Abstract: The financing mechanism is an important component of social long-term care insurance, its stability and sustainability have a vital significance in keeping the healthy and efficient operation of social long-term care insurance. In order to carry out an in-depth study on the financing mechanism of social long-term care insurance, this article makes ...
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Research on the Design of E-coupons for Directional Marketing of Two Businesses in Competitive Environment
Xiong Keyi,
Yang Wensheng
Issue:
Volume 8, Issue 1, February 2020
Pages:
49-56
Received:
2 February 2020
Published:
10 March 2020
Abstract: With the rapid development of information technology, e-coupons have shown an explosive trend in recent years. One of the biggest benefits of e-coupons is that they can achieve precise marketing, that is, they can push different coupons to different customers. Although the research on coupons has always been a hot topic, the research on e-coupons has gained increasing attention in recent years. With scant attention devoted to the research on the design of coupons for directional marketing, we investigate the design of coupon for two businesses under the competitive environment. For the old customers, the threshold reduction coupons are used, and for the new customers, the instant reduction coupons are used. Aiming at the maximization of the profits of the merchants, a coupon model for new and old customers of two merchants is built in the competitive market environment with Stackelberg games. Finally, taking two merchants with different profit as an example, the influence of competitors on the coupon delivery strategy of merchants is analyzed by Matlab program. The results show that the existence of competitors will force the merchants to further let customer and enlarge the coupon's face value to the maximum value they can bear. Overall, the study sheds light on design of e-coupons under competition and provides managers with a blueprint to improve profits by targeting shoppers with customized coupons.
Abstract: With the rapid development of information technology, e-coupons have shown an explosive trend in recent years. One of the biggest benefits of e-coupons is that they can achieve precise marketing, that is, they can push different coupons to different customers. Although the research on coupons has always been a hot topic, the research on e-coupons h...
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Research on the Relationship Between FinTech Attention and Its Sector Returns
Jiangjiao Duan,
Jiqing Liu,
Qian Chen
Issue:
Volume 8, Issue 1, February 2020
Pages:
57-62
Received:
14 April 2020
Published:
27 May 2020
Abstract: With the development and application of Internet technology, investors usually use Internet search engine to investigate the corporation and related information before making investment decision. As a result, Internet search engine has become an indicator of investors’ attention. This paper uses FinTech Baidu index derived from Baidu public platform to measure investors' attention, as well as FinTech index from Shenzhen stock exchange, whose index code is 399699. SZ. The index data covers a date range from June 9, 2017 to June 30, 2019. Empirically, this paper discusses the impact of online attention on the stock returns of financial science and technology sector. A vector auto-regressive (VAR) model is built to reveal the correlation between Fintech investor attention and its sector returns. Furthermore, the granger causality, impulse response and variance decomposition are analyzed. Granger causality test result indicates that FinTech investor attention is the granger cause of the stock returns of Fintech sector, and conversely the stock returns of Fintech sector are not the cause of FinTech investor attention. That is, FinTech online attention has a certain impact on the stock returns of Fintech sector. Impulse response indicates that the impact of FinTech online attention is positive, but the effect lasts in a short term. The conclusions play an important role for investors to understand the hotspot attention on FinTech which is a new emerging market investment opportunity, and provide a general knowledge about the relation between Fintech attention and market returns.
Abstract: With the development and application of Internet technology, investors usually use Internet search engine to investigate the corporation and related information before making investment decision. As a result, Internet search engine has become an indicator of investors’ attention. This paper uses FinTech Baidu index derived from Baidu public platfor...
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