Chien-Chiang Lee

Nanchang University · School of Economics and Management

The paper applies the recently developed panel LM unit root tests with heterogeneous structural breaks by Im et al., [The Oxford Bulletin of Economics and Statistics, 2005] in order to re-examine the validity of mean reversion in the inflation rates of 19 OECD countries for the time period 1960-2004. Our empirical findings are favorable to the stat...

This article applies the Band-Threshold Autoregression (Band-TAR) model to investigate whether the law of one price (LOOP) holds in Taiwanese wholesale hog markets during the period from May 1987 through December 2003. We find evidence of a nonlinear mean reversion in deviations from the LOOP for relative hog prices. Our empirical study confirms th...

We re-study the relationship between financial development and real GDP per capita growth in 48 countries. What we find is an interesting evidence that only stock market development has positive effects on growth and that banking development has an unfavorable, if not negative, effect on growth. We examine whether or not these impacts are a product...

The article applies the LM univariate unit root test recently developed by Lee and Strazicich (200340. Lee , J and Strazicich , MC . 2003. Minimum Lagrange multiplier unit root test with two structural breaks. The Review of Economics and Statistics, 85: 1082–9. [CrossRef], [Web of Science ®]View all references, 200441. Lee , J and Strazicich ,...

As China's economic reforms have undergone significant structural changes after 1979, it has been rather difficult to formulate a stable money demand function over the period following that year. While previous literature on the long-run relationship of money demand in China shows the existence of stable money demand, this article revisits the stab...

Carbon emissions (CO2e) are a main problem, and many countries are committed to reducing CO2e to attain carbon neutrality. To narrow this gap, this research considers green technology implementation (GTI) and CO2e quota in dual green gaming. The objective is to explore the integration of GTI and CO2e quotas into optimal production and pricing decis...

Based on the 274 prefecture-level cities in China from 2006 to 2022, this paper comprehensively investigated whether the National Industrial Relocation Demonstration Zones (NIRDZ) policy increases the undertaking regions’ carbon dioxide (CO2) emissions level. Using propensity score matching and the difference-in-difference approach (PSM-DID), the m...

Achieving economic development and ecological protection simultaneously is an inevitable selection for sustainable development in today’s world, so it is crucial to improve eco-efficiency (EE). According to Chinese panel data at the provincial level between 2010 and 2020, this research explores the nexus between green finance (GF) and EE. The resul...

Using data on Chinese non-financial listed firms covering 2009 to 2022, we explore the effect of supply chain transparency on stock price crash risk. Two proxies for supply chain transparency are constructed using the number of supply chain partners’ names and the proportion of their transactions disclosed in annual reports. The results reveal that...

Food security is a vital material foundation for a nation’s development and has been a topic of significant concern on the international stage in recent years. With a population exceeding 1.4 billion, China is not only a major producer but also a substantial consumer of food. Ensuring food security in China is not only a top priority for its socio-...

Carbon emissions (CO2e) are a main problem, and many countries are committed to reducing CO2e to attain carbon neutrality. To narrow this gap, this research considers green technology implementation (GTI) and CO2e quota in dual green gaming. The objective is to explore the integration of GTI and CO2e quotas into optimal production and pricing decis...

This research analyses the impact of green finance development on the environmental quality of China. It utilises provincial panel data from 2006 to 2021 and takes technological innovation as the intermediary variable. Through the construction of a comprehensive index of green finance, technological innovation and environmental quality, we verify t...

Achieving economic development and ecological protection simultaneously is an inevitable selection for sustainable development in today's world, so it is crucial to improve eco-efficiency (EE). According to Chinese panel data at the provincial level between 2010 and 2020, this research explores the nexus between green finance (GF) and EE. The resul...

Food security is a vital material foundation for a nation's development and has been a topic of significant concern on the international stage in recent years. With a population exceeding 1.4 billion, China is not only a major producer but also a substantial consumer of food. Ensuring food security in China is not only a top priority for its socio-...

It is widely recognized that the tourism industry is susceptible to crisis or natural disaster. Although some literature has studied the consequences of the crisis and disaster, there remains a lack of study on the effect of COVID‐19. Against this background, this paper investigates the tourist flow forecasting by adopting an advanced nonparametric...

Carbon emissions are a critical concern in the realm of energy consumption, with many nations committed to curbing them and striving for carbon neutrality. This research addresses a specific gap in the literature by focusing on carbon emission reduction in the industrial sector through the application of supply chain management (SCM) principles und...

Green bonds are adopted to exclusively finance or refinance green projects and thus is an important policy instrument for sustainable development. The development of these eco-friendly projects benefits the reduction of carbon emission. What impacts do green bonds have on carbon emission intensity and how? This issue needs to be revealed, including...

With the penetration of next-generation information and communication technologies (ICT), the digital economy industry has become the most important driving force leading and supporting economic and social development. This paper evaluates the input–output efficiency of two core industries of China’s digital economy during the period from 2003 to 2...

Purpose This paper aims to investigate how information and communication technology (ICT) services and digital finance affect the development of international tourism. Design/methodology/approach The two-way fixed effect panel regression model, spatial econometric model, panel threshold regression model and panel quantile regression model are used...

Political uncertainty is a crucial disadvantage to the internationalization of enterprises in developing countries. Using data from a survey of World Bank in 106 developing countries from 2006 to 2020, this study empirically investigates the innovative behavior of export enterprises in response to political uncertainty. The empirical results illust...

Insufficient green output can lead to environmental degradation while overinvestment may result in economic imbalances, social inequalities, and opportunity costs. Thus, sustaining an optimal level of green growth could restrict both green neglect and green grabbing. A higher level of financialization is believed to be an efficient allocation mecha...

a difference-indifferences (DID) model, we find that the NPZEC policy positively influences GI, leading to a significant increase of approximately 23.98% in the number of green patents in cities where the policy is implemented. Mechanism tests reveal that the NPZEC policy enhances fiscal support and promotes economic agglomeration, thereby fosterin...

This research mainly focuses on investigating the role of the interactions between cash flows, oil price uncertainty, and geopolitical risk on corporate cash holdings across 42 countries. We also investigate whether such interactions may differ across firm and country characteristics. The main results show that the interactions between cash flows i...

Renewable energy (RE) has become the biggest driving force to achieve sustainable development. This research hence explores the impact of information and communication technology (ICT) on RE by accounting for country risk (CR) as an interaction term with a sample of 126 nations from 2000 to 2019. Using the Method of Moments Quantile Regression (MMQ...

We examined the impact of compulsory disclosure regulations on the relationship between the Environmental, Social and Governance (ESG) and firm-specific extreme risk. We used a difference-in-difference approach to solve endogenous concerns and found that the negative impact of the ESG score on extreme risk is more significant after announcing compu...

Under “The Belt and Road” initiative, the international recognition of China’s high-speed railway (hereafter, HSR) standards is gradually improving along with China’s HSR “going global.” However, the “going global” process of China’s HSR standards still faces obstacles. Therefore, how to promote the “going global” of China’s HSR standards has becom...

In the context of sustainable development, how to promote renewable energy is worthy of widespread research and discussion. Based on provincial data from 2001 to 2019, this paper offers an empirical study on renewable energy in China from the perspective of green finance. The results show that green finance directly promotes renewable energy and ev...

Detrimental environmental repercussions have recently given rise to an interest in green investments. Although solar energy stocks are appealing assets for ethical investors, little is known about their dynamic correlations and linkages with metal (silicon, lithium, and rare earth) markets, particularly during economic events which is essential for...

The world's largest food producer, China, is now facing increasing pressure to solve food security and is committed to forging new prospects for global food security and sustainable agricultural development. As food security is receiving greater attention, this research takes panel data from 31 provinces and cities in China from 2011–2020 to examin...

Faced with the global climate change, as a major greenhouse gas emitter, China launched a pilot policy on low-carbon city construction since 2010. Few studies have discussed how climate policies affect the investment and financing behavior of energy-intensive enterprises. Based on the micro data of A-share listed enterprises in China’s energy-inten...

In the context of the worsening global climate change crisis, recent studies have highlighted the topic of net-zero emissions. Green bond policy as an important course of action to promote the green energy market is also attracting growing attention. This research thus focuses on whether green bond policy stimulates green innovation and green space...

Research studies have recently diverted attention towards the determinant of ecological footprints, but related issues have not provided consistent results. Based on the IPAT model (environmental impact (I) is decomposed into three elements: population (P), affluence (A, economic growth), and technology level (T)), this paper empirically explores t...