Using the data of the listed non-financial companies from 2003 to 2012, this paper conducts a firm-level empirical analysis to reveal the determinants that lead to differences in saving rates of different enterprises in China. Particularly, we explore the discrepancies in the Chinese...

<section xml:id="fut21650-sec-0001"> Using panel data, which consist of stocks listed on the Chinese stock market during the period May 2005 to December 2012, this study examines the impact of the introduction of CSI 300 index futures on stock market volatility. A multi‐period difference‐in‐difference (DID) approach is used...</section>

This paper applies a set of GARCH models to investigate the three characteristics, including time persistence, leverage effect, and risk premium, of the volatilities of the four China Securities Index (CSI) fund indices. This study made the following four findings: (1) a strong ARCH effect...

Using daily data of the China Securities Index (CSI) 300 between 2005 and 2012, we employ a set of GARCH models to investigate the impact of index futures trading on the volatility of the spot market in China. Our three main findings are as follows: (1) the launch of index futures does not...

In this paper, we investigate the causal effect of education on health using an instrumental variable approach. The instruments we employ consist of two institutional changes in China that generated discontinuities in educational attainment among individuals. To ensure the validity of the...

Floods and droughts take a staggering toll both in human suffering and in economic costs. A new approach thus is urgently needed to manage the large and growing risks associated with extreme hydro-climatic events. This report offers that new approach. It sets out a vision of how national...

A new generation of infrastructure projects that harness the power of nature can help achieve development goals, including water security and climate resilience. In this report from the World Bank and World Resources Institute, both organizations are calling for green infrastructure, such as...

Water systems are a special kind of infrastructure systems because they perform a dual role: theyprovide water services while also reducing risks to other services from natural hazards such asfloods and droughts. This report aims to inform water system managers on the importance of andmeasures...