scholarly journals RESEARCH ON THE RELEVANCE AND SPATIAL SPILLOVER EFFECTS OF ENVIRONMENTAL POLLUTION, FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH IN CHINA

2021 ◽  
Author(s):  
HAIFENG PAN ◽  
DINGSHENG ZHANG
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Environmental Pollution ◽  
Financial Development ◽  
Spatial Dependence ◽  
Significant Positive Correlation ◽  
Spillover Effects ◽  
Spatial Spillover ◽  
Positive Correlation ◽  
Economic Distance

Abstract. Comprehensively considering the factors of environmental pollution, financial development and spillover effects, this paper analyzes the spatial dependence and clustering characteristics by selecting provincial panel data from 2005 to 2018. Meanwhile, considering geographic distance, economic distance and asymmetric factors, the optimal spatial econometric models are determined by constructing five different weight matrices and utilizing spatial panel models. The results show that (1) there existed significant positive correlation in the regional economic development and the spatial dependence played a significant role in promoting the economic development; (2) the direction and significance of spatial spillover effects were consistent under different spatial weights, and the spatial weight which considered geographical distance, economic distance and asymmetric factors proved to be the best; (3) the environmental pollution had a significant positive correlation with economic growth; (4) financial development had some positive effects on economic growth; (5) financial development was conducive to reducing the impact of environmental pollution on economic growth, and the promotion of environmental quality could strengthen the role of financial development in promoting economic growth; (6) from the perspective of regional heterogeneity, the cross terms of environmental pollution and financial development were not significant in the eastern region, but significantly negative in the central and western regions.

scholarly journals Spatial Spillover Effect and Action Path of Electricity Consumption Driven by China’s Financial Development based on Global Co-integration

2021 ◽  
Author(s):  
Jianjun Xu ◽  
Xuejiao Ma ◽  
Xiaoqing Xu
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Industrial Structure ◽  
Electricity Consumption ◽  
Structure Optimization ◽  
Spillover Effects ◽  
Short Term ◽  
Spatial Spillover ◽  
Spatial Spillover Effects ◽  
Industrial Structure Optimization

Abstract Although studies on the influencing factors of electricity consumption are rich, the focus on the relationship between financial development and electricity consumption is scarce due to the characteristics of financial sector. In fact, the financial development cannot only increase electricity consumption, but also have the spatial spillover effects. Based on the global spatial modelling techniques, the long-term and short-term relationship between financial development and electricity consumption is examined, and the intermediary effect of financial development on electricity consumption through economic growth, urbanization and industrial structure optimization is also verified. Results show that there is a global co-integration relationship between financial development, economic growth, urbanization, industrial structure optimization and China's electricity consumption, rather than a local co-integration relationship. When the short-term change of electricity consumption deviates from the equilibrium state, the global error correction mechanism can promote the unbalanced system to return to equilibrium from time and spatial dimension. This study not only confirms the spatial spillover effects, but also heterogeneous influences of financial development on electricity consumption, which provides new evidence to make relevant policies.

scholarly journals Spatial Effects and Nonlinear Analysis of Energy Consumption, Financial Development, and Economic Growth in China

Energies ◽  
2020 ◽  
Vol 13 (18) ◽  
pp. 4982 ◽  
Author(s):  
Huan Zhou ◽  
Shaojian Qu ◽  
Qinglu Yuan ◽  
Shilei Wang
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Financial Development ◽  
Spillover Effects ◽  
Regional Economic Growth ◽  
Low Carbon ◽  
Regional Economic ◽  
Spatial Spillover ◽  
Econometric Methods ◽  
Spatial Spillover Effects

Energy consumption is of great significance to the sustainable development of the economy. Due to the spatial heterogeneity of low-carbon growth in regional economies, the relationship between energy consumption and economic growth is complicated. However, a few researches have been published about spatial spillover effects and non-linearity of energy consumption and financial development on regional economic growth in China. Based on the panel data of 30 provinces in China from 2007 to 2017, this paper analyzes the spatial spillover effects and threshold effects of energy consumption and financial development on regional economic growth by using spatial and nonlinear econometric methods. The main conclusions are as follows. Spatial econometric methods show that financial development and energy consumption are two factors of production input to promote China’s economic growth. Meanwhile, energy consumption and financial development have spillover effects on regional economic growth. Additionally, the nonlinear econometric method finds that with increasing financial development, the impact of energy consumption on economic growth is segmented. Therefore, relevant policies should be implemented to enhance the role of finance in energy consumption to promote low-carbon growth of China’s economy.

Effects of tourism development on economic growth: An empirical study of China based on both static and dynamic spatial Durbin models

2021 ◽  
pp. 135481662110211
Author(s):  
Honghong Liu ◽  
Ye Xiao ◽  
Bin Wang ◽  
Dianting Wu
Keyword(s):  
Economic Growth ◽  
Spillover Effect ◽  
Tourism Development ◽  
Spillover Effects ◽  
Policy Implications ◽  
Long Term Effects ◽  
Spatial Spillover ◽  
Domestic Tourism ◽  
Inbound Tourism ◽  
Spatial Spillover Effect

This study applies the dynamic spatial Durbin model (SDM) to explore the direct and spillover effects of tourism development on economic growth from the perspective of domestic and inbound tourism. The results are compared with those from the static SDM. The results support the tourism-led-economic-growth hypothesis in China. Specifically, domestic tourism and inbound tourism play a significant role in stimulating local economic growth. However, the spatial spillover effect is limited to domestic tourism, and the spatial spillover effect of inbound tourism is not significant. Furthermore, the long-term effects are much greater than the short-term impact for both domestic and inbound tourism. Plausible explanations of these results are provided and policy implications are drawn.

THE VANISHING EFFECT OF FINANCE ON ECONOMIC DEVELOPMENT

2019 ◽  
pp. 1-43
Author(s):  
Klaus Gründler
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Financial Development ◽  
Productivity Growth ◽  
Oecd Countries ◽  
Growth Effect ◽  
Factor Productivity ◽  
Average Effect ◽  
Innovation Projects ◽  
New Ideas

This paper examines the mechanisms that determine the “vanishing effect of finance” on economic growth found in recent studies. Based on both current (171 countries, 1960–2014) and historical (21 OECD countries, 1870–2009) data, the results show that financial development promotes growth in poorer countries by increasing education and investment, and by decreasing fertility. The relevance of these transmission channels declines when countries become richer. The growth effect of the financial sector in high-income countries primarily depends on new ideas and potentials for innovation projects. Consequently, the major decline in factor productivity growth since the early 2000s has contributed to the reduction in the financial sector’s average effect on growth.

scholarly journals Model Pertumbuhan Ekonomi Indonesia: Peranan Ketergantungan Spasial

2019 ◽  
Vol 19 (1) ◽  
pp. 62-83
Author(s):  
Aspiansyah Aspiansyah ◽  
Arie Damayanti
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Growth Model ◽  
Spatial Dependence ◽  
Regional Economic Growth ◽  
Regional Economic ◽  
Spatial Spillover ◽  
Economic Growth Model ◽  
Per Capita

This study aims to examine the role of spatial dependence on Indonesia’s regional economic growth based on panel data of all provinces in Indonesia during 1990–2015. By using spatial durbin model, the authors found that spatial dependence plays an important role in achieving regional economic growth in Indonesia. Indonesia’s regional economic growth model that controls spatial dependence, yields better estimates than growth model that does not control spatial dependence. The researchers also found positive spatial spillover to Indonesia’s regional economic growth sourced from other region’s economic growth and initial per capita incomes, as well as population growth in other regions. ============================ Penelitian ini bertujuan untuk mengkaji peranan ketergantungan spasial terhadap pertumbuhan ekonomi regional Indonesia berdasarkan data panel seluruh provinsi di Indonesia selama tahun 1990–2015. Dengan menggunakan model durbin spasial, penulis menemukan bahwa ketergantungan spasial berperan penting dalam pencapaian pertumbuhan ekonomi regional di Indonesia. Model pertumbuhan ekonomi regional Indonesia yang mengontrol ketergantungan spasial menghasilkan estimasi yang lebih baik daripada model pertumbuhan ekonomi regional Indonesia yang tidak mengontrol ketergantungan spasial. Peneliti jugamenemukan terjadinya spatial spillover yang positif terhadap pertumbuhan ekonomi regional Indonesia yang bersumber dari pertumbuhan ekonomi wilayah lain, pendapatan per kapita awal dari wilayah lain dan pertumbuhan penduduk wilayah lain.

scholarly journals Haze Pollution Levels, Spatial Spillover Influence, and Impacts of the Digital Economy: Empirical Evidence from China

2021 ◽  
Vol 13 (16) ◽  
pp. 9076
Author(s):  
Jie Zhou ◽  
Hanlin Lan ◽  
Cheng Zhao ◽  
Jianping Zhou
Keyword(s):  
Economic Development ◽  
Environmental Governance ◽  
Eastern China ◽  
Spillover Effects ◽  
Digital Economy ◽  
Mediating Effect ◽  
Energy Structure ◽  
Spatial Spillover ◽  
Pollution Levels ◽  
Haze Pollution

With the development of digital technologies such as the Internet and digital industries such as e-commerce, the digital economy has become a new form of economic and social development, which has brought forth a new perspective for environmental governance, energy conservation, and emission reduction. Based on data from 30 Chinese provinces from 2011 to 2018, this study applies the space and threshold models to empirically examine the digital economy’s influence on haze pollution and its spatial spillover. Furthermore, it investigates the spatial diffusion effect of regional digital economic development and haze pollution by constructing a spatial weight matrix. Subsequently, an instrumental variable robustness test is performed. Results indicate the following: (1) Haze pollution has spatial spillover effects and high emission aggregation characteristics, with haze pollution in neighbouring provinces significantly aggravating pollution levels in the focal province. (2) China’s digital economy has positively impacted haze pollution, with digital economic development having a significant effect (i.e., most prominent in eastern China) on reducing haze pollution. (3) Changing the energy structure and supporting innovation can restrain haze pollution, and the digital economy can reduce the path mechanism of haze pollution through the mediating effect of an advanced industrial structure. It shows a non-linear characteristic that the influence of haze reduction continues to weaken. Thus, policymakers should include the digital economy as a mechanism for ecologically sustainable development in haze pollution control.

scholarly journals Spatial spillover effects of county-scale tourism economic growth in Zhejiang Province

2020 ◽  
Vol 39 (9) ◽  
pp. 1512-1521
Author(s):  
Xiaoyan CHEN ◽  
Dong XU ◽  
Rui HUANG ◽  
Xiaohai HU ◽  
Zhenfang HUANG ◽  
...  
Keyword(s):  
Economic Growth ◽  
Spillover Effects ◽  
Zhejiang Province ◽  
Spatial Spillover ◽  
Spatial Spillover Effects ◽  
County Scale

scholarly journals Finance and growth nexus: An international analysis across cities

Urban Studies ◽  
2020 ◽  
Vol 58 (1) ◽  
pp. 223-242 ◽  
Author(s):  
Stefanos Ioannou ◽  
Dariusz Wójcik
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Financial Development ◽  
Metropolitan Areas ◽  
Financial Systems ◽  
Financial Centre ◽  
National Economies ◽  
The Relationship ◽  
Stages Of Economic Development

We examine the relationship between finance and economic growth in the metropolitan areas of 75 countries at various stages of economic development in the period 2001–2015. Our analysis demonstrates an inverted-U shaped relationship between finance and growth. This relationship becomes even more significant in the areas of a country outside its largest financial centre, indicating that while these areas can benefit from financial development, they are also the most vulnerable. We show that large financial centres can have an impact on growth across their national economies, but in doing so they complement rather than replace local financial centres. Overall, our results highlight the risks associated with the excesses of financial development and lend evidence to support calls for more decentralised financial systems.

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