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Stocks --- Investments --- Prices
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Breaking the bottleneck of SME financing and promoting consumption by lifting consumer credit have become an important way to realize the transformation from wholesale finance to retail finance in China. This book puts the focus on consumer financing, introducing the financing situation, constraints, preferences, and representative tools, and gives a brief discussion on the Credit Reference System in China. It will be indispensable to every financial company intending to expand business through financing tools, and any academic institutions wishing to make more sense of this topic.
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Do preferential trade agreements (PTAs) lead to greater market integration, more intense competition and less market power for firms? This paper integrates the detailed data on 257 preferential trade agreements from the World Bank's Deep Trade Agreements (DTA) database with administrative customs datasets of product-level exports by firms from thirteen developing and emerging countries to estimate the responsiveness of firm-level exports, export prices, and destination-specific markups to trade and domestic policy commitments enshrined in deep trade agreements. The findings suggest that both the direct and indirect effects of deep trade agreement provisions on export sales are quantitatively significant. Perhaps more interestingly, the finding of a suggestive evidence of a pro-competitive effect of PTAs.
Competition Policy --- Competitiveness and Competition Policy --- Deep Trade Agreement --- Export Competitiveness --- Firm Level Data --- Gravity Model --- International Economics and Trade --- Markup Elasticity --- Mutual Recognition --- Private Sector Development --- Rules of Origin --- Trade and Services --- Trade Elasticity --- Trade Policy
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This paper studies the role of airlift supply on the tourism sector in the Caribbean. The paper examines the relative importance of U.S.-Caribbean airlift supply factors such as the number of flights, seats, airlines, and departure cities on U.S. tourist arrivals. The possible endogeneity problem between airlift supply and tourist arrivals is addressed by using a structural panel VAR and individual country VARs. Among the four airlift supply measures, increasing the number of flights is found to be the most effective way to boost tourist arrivals on a sustained basis. As a case study, the possible crowding effect of increasing the number of U.S. flights to Cuba is investigated and, based on past observations, we find no significant impact on flights to other Caribbean countries. The impact of natural disasters on airlift supply and tourist arrivals is also quantified.
Econometrics --- Infrastructure --- Labor --- Industries: Hospital,Travel and Tourism --- Natural Disasters --- Time-Series Models --- Dynamic Quantile Regressions --- Dynamic Treatment Effect Models --- Diffusion Processes --- State Space Models --- Multiple or Simultaneous Equation Models: Models with Panel Data --- Sports --- Gambling --- Restaurants --- Recreation --- Tourism --- Economic History: Macroeconomics --- Growth and Fluctuations: Latin America --- Caribbean --- Economywide Country Studies: Latin America --- Climate --- Natural Disasters and Their Management --- Global Warming --- Industry Studies: Transportation and Utilities: General --- Unemployment: Models, Duration, Incidence, and Job Search --- Hospitality, leisure & tourism industries --- Econometrics & economic statistics --- Natural disasters --- Macroeconomics --- Labour --- income economics --- Structural vector autoregression --- Transportation --- Unemployment rate --- Economic sectors --- Econometric analysis --- Environment --- National accounts --- Saving and investment --- Unemployment --- United States --- Income economics
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This paper estimates the value of urban trees and shows their ability to moderate temperatures during heatwaves and reduce energy consumption. The empirical strategy exploits an ecological catastrophe--the Emerald Ash Borer infestation in Toronto--to isolate exogenous variation in neighborhood tree canopy changes and finds that a single tree adds 0.45% to property prices within a postal code; the hardest-hit areas lost 7 percentage points in tree canopy cover, resulting in a 7% property price decline. Trees significantly cool urban areas and save energy, but their total amenity value surpasses the value of these ecosystem services, highlighting their cost-effectiveness in combating urban heat island effects.
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