• Energy Research
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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.

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”.

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.

Ecological and environmental protection is the core content of ecotourism development. A quantitative evaluation of the effects of ecotourism environmental protection (hereinafter referred to as EEP) measures on protected areas is conducive to a deeper understanding of the key issues related to ecotourism development in China, thus providing the theoretical basis for formulating the relevant national policies of sustainable ecotourism development in China. This paper first discusses the evaluation index system and then establishes an index evaluation model of EEP measures and their effects on protected areas. Using surveys of more than 1110 protected areas in 27 provinces (autonomous regions or municipalities), we evaluated the EEP measures and their effects from a quantitative and spatial perspective. The completeness of EEP measures for Chinese protected areas was moderately effective, and the implementation status of the protection measures varied with the protection region. The effectiveness of EEP measures in different provinces and regions showed significant differences. The effectiveness decreased from east to west. The evaluation index values of the environmental protection measures displayed a high correlation with the effects of environmental protection on protected areas. The ecological protection measures should be further improved and strengthened according to their regional differences during ecotourism development.

Household leverage ratio is an important factor affecting family stability. Digital finance has changed the means of payment and consumption frequency, but the relationship between digital finance and household leverage ratio is still unclear. The existence of household debt is defined as the existence of leverage. The higher the household debt, the greater the household leverage. Based on the matching data of the China Household Finance Survey (CHFS) 2019 and the China Digital Inclusive Finance Index, this paper studies the impact of digital finance on household leverage ratio and explores its mechanism theoretically and empirically. This research finds that digital finance can significantly promote the household leverage ratio and this conclusion is still valid after instrumental variable method and robustness test. The mechanism analysis shows that digital finance can promote household over-consumption and further expand household leverage ratio. Digital finance can also reduce household leverage ratio by increasing household income. The heterogeneity analysis suggests that the role of digital finance in expanding leverage ratio is stronger for urban areas and households with low educational level. For households with higher assets, digital finance helps to reduce leverage ratio. Therefore, the government should guide residents to consume rationally and give full play to the entrepreneurship-facilitating and income-increasing effect of digital finance. Meanwhile, the residents themselves should speed up the cultivation of digital financial literacy, which is of vital significance for lowering household leverage ratio and systemic financial risks. China’s development level of digital finance ranks among the top in the world. Studying the role of digital finance in China is helpful to provide experience reference for countries around the world.

Despite strong interest and conflict research spanning multiple disciplines, connections between water flows and conflicts remain unclear, due to incomplete datasets on water-related conflict-cooperation events and poor understanding of socioeconomic and biophysical causes of such conflicts. The dataset on water-related conflict-cooperation events compiled in this study extends to 2019, updating previous datasets that covered only up to 2008, yielding important new insights on cooperation-conflict trends. Global and regional trends were analyzed using the new events dataset, together with changes in hydroclimatic variables and population density. The analysis revealed that water-related cooperation was far more common than conflicts across all regions, in both drier and wetter climates, indicating that abundance and lack of water can both promote cooperation. However, conflict events were more common in drier climates where water is scarcer. This cooperation-conflict balance shifted in the 2000s, with conflict events increasing, to outnumber cooperation events in 2017. The main shift occurred in Africa and Asia, where increased conflicts in Africa coincided with a prolonged period of below-average precipitation and severe drought, while the shift in Asia coincided with increased evapotranspiration caused by human activities and increased population density. Differences between regions were confirmed by event descriptions, with events in Africa relating to water access and farmer-herder conflicts, and events in Asia relating to irrigation and dam construction. These differences highlight the need for regional-scale analysis of water-related conflict-cooperation trends and pathways. With climate change and human activities expected to increase, the increasing trend in conflict events could persist, with water resources becoming a more frequent cause of future conflict. Identifying these complex cooperation-conflict changes is vital in determining future actions required to reduce conflict events and promote cooperation on water.

Green economic development is a worldwide concern. This paper not only contributes to the advancement of studies pertaining to green development but also offers policy recommendations for China to achieve a green and low-carbon economic transformation from the perspective of outward foreign direct investment (OFDI) and industrial structure. A mechanism for the effects of OFDI and industrial structure upgrading on green total factor productivity (GTFP) is proposed in this study. Based on measurement and analysis of the evolution characteristics of GTFP and industrial structure level of 30 provinces (municipalities and autonomous regions) in China from 2004 to 2019, the spatial Durbin model is applied to test their spatial effects. The findings demonstrate that (1) the overall trend of China’s GTFP and industrial structure level is upward, with obvious regional non-equilibrium and spatial dependence; (2) both OFDI and industrial structure upgrading can promote green development independently, with the spatial spillover effect of Industrial structure advancement being more evident; (3) the synergistic effect between OFDI and industrial structure advancement is greater than that between OFDI and industrial structure rationalization, and the spatial spillover effect on regions with comparable economic development is greater than that of surrounding regions; (4) in view of the different levels of openness between regions, the independent and synergistic effects in coastal regions and non-coastal regions are heterogeneous. Therefore, China should optimize OFDI, promote the efficiency of resource allocation, maximize the technology spillover, and strengthen interregional cooperation in order to transform towards a green economy.