This paper investigates the existence of herding behavior in the Chinese mutual fund market from a time-varying perspective. We examine the relationship between the dispersion of fund returns and the fund market returns using a Markov regime switching approach, and explore the driving factors of...

As one of the largest carbon emitters worldwide, China has promised to peak its carbon emissions by 2030 and achieve national carbon neutrality by 2060. In order to achieve the carbon reduction goal, the low-carbon pilot (LCP) program has been implemented in China since 2010. It is particularly...

This paper examines the nexus between local government debt and economic growth in China. Particularly, we investigate whether there exists a debt-threshold effect on economic growth and the long-run effect of debt increase on economic growth. We employ a panel threshold autoregressive...