China’s military-civil fusion (MCF) policy has attracted global attention. Since 2010, China has constructed over 30 MCF national demonstration bases (MCFNDBs) to optimise local industrial structure and promote local economic development. However, the evaluation of the actual economic effects...

The authors report the results of a review of the Chinese-language and English-language literatures on service delivery in China, asking how well China's health care providers perform, what determines their performance, and how the government can improve it. They find current performance leaves...

This paper incorporates the Baidu Index into various heterogeneous autoregressive type time series models and shows that the Baidu Index is a superior predictor of realized volatility in the SSE 50 Index. Furthermore, the predictability of the Baidu Index is found to rise as the forecasting...

We propose an empirical behavioral order-driven (EBOD) model with price limit rules, which consists of an order placement process and an order cancellation process. All the ingredients of the model are determined based on the empirical microscopic regularities in the order flows of stocks traded...

This paper proposes new dynamic conditional futures hedge ratios and compares their hedging performances along with those of common benchmark hedge ratios across three broad asset classes. Three of the hedge ratios are based on the upward-biased carry cost rate hedge ratio, where each is...

The Paris Agreement and COP27 have been actively working towards a transition to clean energy (SDG-7) and the restoration of the green environment (SDG-13). Therefore, this study was situated within a comprehensive policy framework. This study aims to investigate the effects of environmental...

Sudden and uncertain events often cause cross-contagion of risk among various sectors of the macroeconomy. This paper introduces the stochastic volatility shock that follows a thick-tailed Student's t-distribution into a high-order approximate dynamic stochastic general equilibrium (DSGE) model...

Active government intervention is a striking characteristic of the Chinese stock market. This study develops a behavioral heterogeneous agent model (HAM) comprising fundamentalists, chartists, and stabilizers to investigate investors' dynamic switching mechanisms under government intervention....