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Abstract Numerous countries have set up strategic petroleum reserves (SPRs) in response to oil disruptions since 1970. While numerous studies model such programs, we found few that evaluate SPRs' historical performance. Thus, we evaluate the U.S. SPR's performance by comparing actual real costs with estimated real benefits. From 1976 to 2014, the real U.S. SPR cost was about $219 billion real (2014$) dollars, whereas the real benefit was only $122 billion. Sensitivity testing suggests such negative net benefits are qualitatively robust. However, if world oil demand is extremely inelastic to oil price or GDP is elastic enough to oil price shocks, the estimated U.S. SPR net benefit is positive. Sensitivity testing around total real costs and benefits range from $380 billion to $80 billion. Limited testing of IEA coordinated drawdowns suggests that total U.S. benefits jump from $122 billion to more than $400 billion putting the SPR strongly in the black. Limited testing of private sector inventory changes was more disappointing and tentatively suggests private activities may at times have offset some of the government drawdowns. With 20-20 hindsight, initial experimentation found that better management could have significantly enhanced the value of the U.S. SPR, especially for the 1990-91 disruption.

Achieving economic development is one of the most important economic goals of every country. Identifying the determinants of economic growth, is a useful tool for adopting appropriate economic policies. This study, therefore, empirically examines the impact of trade openness, foreign direct investment, and financial development on economic growth, across 62 countries over the period 1995–2016. These countries are divided into two groups: low-income and high-income countries. We employ the pooled mean group (PMG), mean group (MG), and dynamic fixed effect (DFE) estimation techniques on the cross-country panel data. The findings show a positive long run association between trade openness, foreign direct investment (FDI), financial development, labor, government expenditure, and economic growth in low-income countries, with a positive and negative short run effect from capital and government expenditures, respectively. For high-income countries, a positive long run association between trade openness, FDI, capital, and economic growth exist. The short run estimates indicate a positive effect on trade openness and capital as well as a negative effect on government expenditure. Our study shows that the adoption of policies that improves access to skilled labor and international trade, affect the attainment of a sustainable economic development.

The prevailing need for a more sustainable management of natural resources depends not only on the decisions made by governments and the will of the population, but also on the knowledge of the role of energy in our society and the relevance of preserving natural resources. In this sense, critical work is being done to instill key concepts—such as the circular economy and sustainable energy—in higher education institutions. In this way, it is expected that future professionals and managers will be aware of the importance of energy optimization, and will learn a series of computational methods that can support the decision-making process. In the context of higher education, this paper reviews the main trends and challenges related to the concepts of circular economy and sustainable energy. Besides, we analyze the role of simulation and serious games as a learning tool for the aforementioned concepts. Finally, the paper provides insights and discusses open research opportunities regarding the use of these computational tools to incorporate circular economy concepts in higher education degrees. Our findings show that, while efforts are being made to include these concepts in current programs, there is still much work to be done, especially from the point of view of university management. In addition, the analysis of the teaching methodologies analyzed shows that, although their implementation has been successful in favoring the active learning of students, their use (especially that of serious games) is not yet widespread.

As an important livelihood strategy choice to promote the sustainable development of themselves and regions, returnees’ entrepreneurship has played a vital role in the governance of all-level Chinese local governments since the 21st century. The policy attention reflects the importance that the local governments attach to this issue, and the evolution process also reflects relevant policies’ internal rules and characteristics. Based on this, this paper, taking 242 policy texts related to returnees’ entrepreneurship issued by local governments from 2000 to 2021 as the research objects, uses grounded theory and social network analysis in order to explore the policy attention evolution from the aspects of time, space, specific policy domains and cooperative relationship among policy subjects. Finally, this research finds the main conclusions as follows: (1) The policy attention evolution on time dimension has the characteristic of synchronism, different levels and “reciprocal U”. (2) The policy attention evolution on space dimension is closely linked to “pull” and “push” forces of local population flow and has neighborhood effects. (3) The policy attention evolution on specific policy areas will gradually spread and diversify with the change in local governance environment and stage goals. (4) The evolution trend of collaborative social network among policy objects has the characteristic of “loose-central-loose”.

AbstractIncreasing resource scarcity and what has been called “the end of cheap nature” are prompting policymakers and scholars to foster more circular economies to reduce waste and lengthen the lifespan of material goods. Our essay critically examines the political and economic relationships between urban and rural geographies in the context of secondhand economies. Practices of bartering, swapping, selling, and repairing used goods have long been important to rural people and places, but the increasing commodification of discards risks upending rural livelihoods and ways of being as goods move toward urban centers. We explore the relationship between rural and urban reuse economies and suggest how future scholars of rural North America might contribute to strengthening and supporting localized reuse practices.

Abstract In order to further promote the development of the new energy vehicle industry, Parallel Management regulation for corporate average fuel consumption and new energy vehicle credits for passenger vehicles (dual-credit scheme) have been proposed by Ministry of Industry and Information Technology in September 2017. This study attempted to investigate the impact of dual-credit scheme on the penetration of new energy vehicles and the short-term strategies of the automotive industry. For this purpose, a market analysis model is proposed based on game theory and the credit market equilibrium to quantify the effects of the credit trading mechanism. Four categories of automakers are considered. The obtained results show that: (i) The dual-credit scheme is indeed an effective policy solution that enables the expansion of the volume of NEV market. (ii) The dual-credit scheme can accelerate the elimination of outdated technologies with lower driving mileage, and it can also promote the adoption of technologies with longer driving mileage. (iii) The dual-credit scheme allows all automakers to achieve their targets in a market efficient manner.

Environmental pollution damages public health and affects economic development. Environmental regulation is the main way for the government to solve environmental pollution. So what type of environmental regulation works better for public health and economic development? Can environmental regulation have an influence on economic development through public health? To solve these problems, this research uses China’s provincial panel data from 2013 to 2017 to divide environmental regulation into command-control policy tools and economic incentive policy tools and uses the mediating effect model to examine the relationship among environmental regulation, public health and economic development. The results show that: (1) There is a positive correlation between economic incentive policy tools and economic development; while no significant relationship between command-control policy tools and economic development is founded; (2) The relationship between command-control policy tools and public health is not significant, while the relationship between economic incentive policy tools and public health is positive; (3) Public health does not play a mediating role between command-control policy tools and economic development but plays a partial mediating role between economic incentive policy tools and economic development. Therefore, the government should strengthen the use of economic incentive policy tools to promote public health and sustainable economic development.

In this study, we investigate whether outbound foreign direct investment (OFDI) either augments or impedes domestic public and private investment, incorporating the role of institutional quality into the context of developed and emerging countries. To this end, we apply a cross-sectional-autoregressive-distributed lag (CS-ARDL) approach to analyze panel data from the period 1996–2017. Our empirical findings suggest that OFDI augments private capital formation for developed countries. Institutional quality (IQ) is found to be a driving factor that promotes private capital formation in the established economies of developed countries. However, OFDI has a negative association with the public capital formation in the established economies of developed countries, while IQ has a positive association with it. In the context of emerging economies, OFDI is found to be too insignificant to have an effect on private and public capital formation. Interestingly, IQ has a detrimental effect on both private and public capital formation in emerging economies. Our findings are robust. The empirical findings of this study imply that institutional quality should continue to be improved in developed countries, while it should surpass a certain threshold for emerging economies to promote domestic capital formation.

Sustainable tourism is essential for tourism sector development. Environmentally responsible behaviors and behavioral intentions are important prerequisites for sustainable tourism. This research explores the behavioral intentions of university tourism students and significant factors affecting these behavioral intentions. The questionnaire survey method was applied to university students from the tourism departments of nine universities in Taiwan. A total of 390 valid questionnaires were collected. The pro-environmental behavioral intentions of the students ranged from moderate to high. Environmental knowledge positively affected behavioral intentions and positively influenced environmental sensitivity and environmental responsibility. Furthermore, environmental sensitivity and environmental responsibility exerted a full effect in mediating the relationship between environmental knowledge and behavioral intentions. Hence, increasing students’ environmental knowledge will enhance their behavioral intentions. However, by improving students’ sensitivity and responsibility, their intentions to protect the environment can be more effectively elevated. Development implications and recommendations for sustainable tourism and higher education are provided.

Highlights •Biomass resource constraints impact the effectiveness of bioeconomy policies. •Bioeconomy policies may have an important impact on the sector structure in the long run, but the sector growth remains ultimately constrained by the availability of inputs. •Solutions to reduce the biomass constraint have to be included in innovation policy for the biobased economy.