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This paper explores the relationship between key economic and institutional attributes of Tunisian governorates and their ability to attract foreign direct investment inflows. A dynamic generalized method of moments and spatial autoregressive approaches are used to estimate a model of regional foreign direct investment over the recent period. The results provide evidence of regional interdependence of foreign direct investment that appears to be highly clustered along the coastal areas. An increase/decrease of foreign direct investment inflows to a given region creates an incentive/disincentive for other foreign direct investment inflows to the same regions as well as nearby ones. These agglomeration forces are relatively strong in Tunisia in the presence of vertical foreign direct investment. Further, the results indicate that a relatively developed market size, an increase of regional development areas, as well as robust governance practices and infrastructure are positive determinants of regional foreign direct investment inflows. Finally, the paper shows that although some of the determinants exhibit spillover effects on nearby regions, the direct effect on the region represents the bulk of the influence over foreign direct investment inflows.
Agglomeration Economies --- Foreign Direct Investment --- Governance --- Infrastructure --- International Economics and Trade --- Market Size --- Regional Disparity --- Spatial Analysis --- Spillover Effect
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This paper explores bond-level, issuer-level, and macro-level conditions that affect the distance between sovereign credit rating and sub-sovereign debt ratings. Over three-quarters of rated foreign-currency sub-sovereign bonds issued during 1990-2013 in 47 emerging and developing countries were rated at or below the corresponding sovereign rating, thus confirming the prevalence of a sovereign ceiling. For bonds rated below the sovereign ceiling, a Tobit regression shows strong sovereign-corporate links for financial firms, publicly-owned firms, and local government entities. International bonds tend to be rated closer to the sovereign rating during riskier global financial conditions. Well-developed domestic financial markets also tend to be related to a smaller distance, likely because of stronger macro-financial links for financial issuers. About 11 to 26 percent of the bonds had ratings higher than the sovereign rating, which was achieved mainly through securitization structures. This observation is confirmed using a double-hurdle estimation that accounts for bond and firm characteristics and macroeconomic conditions. The sovereign-corporate rating relationship became significantly stronger at the peak period of the 2008-09 global financial crisis, and appears to have weakened in the subsequent years.
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This paper studies the impact of foreign direct investment on domestic firms' innovation in China. It provides causal evidence by exploiting China's foreign direct investment deregulation in 2002 and employs a difference-in-difference estimation strategy. Using a matched firm-patent data set from 1998 to 2007, the results show that the quantity and quality of domestic firms' innovation benefit from foreign direct investment. Moreover, the paper emphasizes the importance of knowledge spillover from foreign direct investment in similar technology domains. The analysis examines the role of horizontal foreign direct investment and foreign direct investment in technologically close industries'industries that share similar technology domains. The findings show that foreign direct investment in technologically close industries generates much bigger positive spillovers than horizontal foreign direct investment. The paper also shows that knowledge spillover from foreign direct investment in similar technology domains is not driven by input-out linkages. Moreover, the spillover effect is stronger in cities with higher human capital stock and firms with higher absorptive capacity.
Business Environment --- Firm Innovation --- Foreign Direct Investment --- Innovation --- International Economics and Trade --- Private Sector Development --- Private Sector Economics --- Spillover Effect --- Technology Closeness
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Zoning laws that restrict rural land to agricultural production pose an important institutional barrier to industrial development. This paper studies the effects of the Industrial Areas (IA) program in Karnataka, India, which rezoned agricultural land for industrial use, but without the economic incentives common with other place-based policies. This paper finds that the program caused a large increase in firm creation and employment in villages overlapping the IAs. Moreover, the surrounding areas experienced spillover effects, with workers shifting from agricultural to non-agricultural employment, and entrepreneurs establishing numerous small-scale service sector and agricultural firms.
Communities and Human Settlements --- Industrial Areas --- Industrial Economics --- Industry --- Labor Force Participation --- Labor Markets --- Land Use and Policies --- Place-Based Policy --- Poverty Reduction --- Rural Land Policies for Poverty Reduction --- Spillover Effect --- Structural Transformation --- Zoning Law
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Signs of development delays and malnutrition are widespread among young children in low-income settings. Social protection programs such as cash transfers are increasingly combined with behavioral change promotion or parenting interventions to improve early childhood development. This paper disentangles the effects of behavioral change promotion from cash transfers to poor households through an experiment embedded in a government program in Niger. The study is also designed to identify within-community spillovers from the behavioral change intervention. The findings show that behavioral change promotion affects a range of practices related to nutrition, health, stimulation, and child protection. Local spillovers on parenting practices are also found. Moderate gains in children's socio-emotional development are observed, but there are no improvements in anthropometrics or cognitive development. Cash transfers alone do not alter parenting practices or improve early childhood development. Cash transfers improve welfare and food security at the household level, and the behavioral intervention induces intra-household reallocations toward children.
Behavioral Change Communication --- Cash Transfers --- Cognitive Development --- Early Child and Children's Health --- Early Childhood Development --- Field Experiment --- Health, Nutrition and Population --- Malnutrition --- Nutrition --- Parenting --- Poverty Reduction --- Services and Transfers to Poor --- Social Protections and Assistance --- Social Protections and Labor --- Spillover Effect
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Recent developments in the natural gas industry warrant new analysis of related issues. Environmental, social, and governance (ESG) investments have accelerated the shift away from coal as the dominant source of electricity. Its low environmental impact, reduced volume, and broad availability make liquefied natural gas (LNG) a popular alternative, during this time of transition between traditional fuels and newer options. In the United States, the shale gas revolution has made natural gas a game changer. In this book, we focus on empirical analyses of the natural gas market and its growing relevance worldwide.
spillover effect --- market integration --- natural gas market --- time frequency dynamics --- BRICS --- exchange rates --- connectedness --- time domain --- frequency domain --- natural gas --- crude oil --- electricity utilities sector index --- time–frequency dynamics --- ESG --- renewable energy --- copula --- value-at-risk --- electricity --- spot --- futures --- transmission --- pipelines --- external cost --- health --- property damage --- bodily injury --- uncertainty --- insurance --- coal --- spillover effects --- dynamic approaches --- forecasting --- logistic regression --- random forests --- support vector machines --- US natural gas crises --- XGboost --- neural networks --- oil futures prices crashes --- foresting --- logistical regression --- extreme gradient boosting --- moving window --- SVAR --- oil price --- gas price --- US macroeconomic aggregates --- GDP --- CPI
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Recent developments in the natural gas industry warrant new analysis of related issues. Environmental, social, and governance (ESG) investments have accelerated the shift away from coal as the dominant source of electricity. Its low environmental impact, reduced volume, and broad availability make liquefied natural gas (LNG) a popular alternative, during this time of transition between traditional fuels and newer options. In the United States, the shale gas revolution has made natural gas a game changer. In this book, we focus on empirical analyses of the natural gas market and its growing relevance worldwide.
Economics, finance, business & management --- spillover effect --- market integration --- natural gas market --- time frequency dynamics --- BRICS --- exchange rates --- connectedness --- time domain --- frequency domain --- natural gas --- crude oil --- electricity utilities sector index --- time–frequency dynamics --- ESG --- renewable energy --- copula --- value-at-risk --- electricity --- spot --- futures --- transmission --- pipelines --- external cost --- health --- property damage --- bodily injury --- uncertainty --- insurance --- coal --- spillover effects --- dynamic approaches --- forecasting --- logistic regression --- random forests --- support vector machines --- US natural gas crises --- XGboost --- neural networks --- oil futures prices crashes --- foresting --- logistical regression --- extreme gradient boosting --- moving window --- SVAR --- oil price --- gas price --- US macroeconomic aggregates --- GDP --- CPI --- spillover effect --- market integration --- natural gas market --- time frequency dynamics --- BRICS --- exchange rates --- connectedness --- time domain --- frequency domain --- natural gas --- crude oil --- electricity utilities sector index --- time–frequency dynamics --- ESG --- renewable energy --- copula --- value-at-risk --- electricity --- spot --- futures --- transmission --- pipelines --- external cost --- health --- property damage --- bodily injury --- uncertainty --- insurance --- coal --- spillover effects --- dynamic approaches --- forecasting --- logistic regression --- random forests --- support vector machines --- US natural gas crises --- XGboost --- neural networks --- oil futures prices crashes --- foresting --- logistical regression --- extreme gradient boosting --- moving window --- SVAR --- oil price --- gas price --- US macroeconomic aggregates --- GDP --- CPI
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Financial Risk Measurement is a challenging task, because both the types of risk and the techniques evolve very quickly. This book collects a number of novel contributions to the measurement of financial risk, which address either non-fully explored risks or risk takers, and does so in a wide variety of empirical contexts.
risk assessment --- mortgage portfolio --- insider trade --- contagion effect --- risk capital --- liquidity risk --- hedonic modeling --- rolling wavelet correlation --- inverse coefficient of variation --- exchange traded funds --- sovereign risk/debt --- securitized real estate and local stock markets --- portfolio optimization --- portfolio analysis --- risk premium --- performance measurement --- risk analysis --- contagion --- outperformance probability --- Sharpe ratio --- probability of default --- small and medium enterprises --- RAROC --- sovereign defaults --- risk attribution --- multiresolution analysis --- credit ratings --- debt maturity structure --- herding --- asset-backed securities --- modern portfolio theory --- housing segments --- analytic hierarchy process --- African countries --- Asian firms --- decentralization --- credit scoring --- dependence --- mutual funds --- spillover effect --- capital allocation --- copulas --- matched filter --- institutional holding --- crop insurance --- factor investing --- wavelet coherence and phase difference --- risk --- value-at-risk --- rearrangement algorithm
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Energy is one of the most important factors of production. Its efficient use is crucial for ensuring production and environmental quality. Unlike normal goods with supply management, energy is demand managed. Efficient energy use—or energy efficiency—aims to reduce the amount of energy required to provide products and services. Energy use efficiency can be achieved in situations such as housing, offices, industrial production, transport and agriculture as well as in public lighting and services. The use of energy can be reduced by using technology that is energy saving. This Special Issue is a collection of research on energy use efficiency.
History of engineering & technology --- energy efficiency --- direct energy rebound effect --- spatial spillover effect --- price decomposition --- fuel consumption --- trade-off --- technological progress --- passenger vehicle --- power factor --- regression discontinuity design --- data envelopment analysis --- super-SBM --- grey model --- energy consumption --- vehicle --- productive process --- material consumption --- manufacturing --- labor productivity --- energy --- Ethiopia --- energy access --- energy use --- fuzzy logic --- energy intensity --- stochastic frontier --- persistent efficiency --- transient efficiency --- US manufacturing --- energy paradox --- integrated assessment model --- subsidy policy --- air quality improvement --- zero-emission vehicles --- fine particulate matter --- Corporate Average Fuel Economy standards --- Global Change Assessment Model --- energy monitoring --- electricity smart meters --- smart metering information platforms --- knowledge --- longitudinal study --- consumers --- energy use efficiency --- energy efficiency management --- design science research --- pilot implementation --- dynamics --- heat transfer in buildings --- heat losses --- buildings --- thermal power --- heating --- dynamic DEA --- efficiency measurement --- electricity power generation --- weak disposability --- undesirable outputs
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This book is a pivotal publication that seeks to address contemporary challenges to the blue economy in view of the growth in exploration and utilization of natural resources, transport connectivity, effects of climate change, sustainable fisheries management, food security, and social and economic issues of human well-being in coastal areas. Coastal territories and water areas are changing at an unprecedented pace in ways that fundamentally affect ecosystems, people, biodiversity, and sustainability. Such changes are driven primarily by rapid social and economic developments, economic disparities between countries, the internationalization of production and value chains, and industrialization. In this context, this publication supplements the existing literature by summoning political, economic, environmental, and social factors that influence various dimensions of the sustainable development of blue economy, as well as translating the findings into workable approaches and policies for the benefit of the economic actors, people, and the environment.
Research & information: general --- Ukraine --- coastal regions --- demographic structure --- regional economic performance --- sustainability --- Blue Economy (BE) sectors --- maritime transport --- legislative framework --- China --- connectivity --- COVID-19 pandemic --- maritime trade --- Polar Silk Road --- shipping --- blue economy (BE) --- coastal tourism --- bibliometric analysis --- R language --- CiteSpace --- VOSviewer --- visualization --- ASEAN --- comparative advantage --- fish --- fishery products --- RCEP --- seafood --- trade --- marine economic efficiency --- marine industrial structure upgrading --- spillover effect --- spatial Durbin model --- Arctic Zone of the Russian Federation --- blue economy --- coastal areas and municipalities --- regional and urban planning --- sustainable development strategies --- online education --- distance learning --- the Arctic region --- educational institutions --- employers --- ocean governance --- policy development --- transformation --- economic growth --- pollution --- panel data analysis --- oxidative stress --- heavy metals --- Danube River --- Black Sea --- machine learning --- fish stocks --- water quality --- forecast models
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