Fuzhong Chen

University of International Business and Economics · Department of Political Economy

Sustainable development through technical progress for middle-income countries (MICs) is overlooked in growth allied studies. Despite their crucial role in alleviating poverty and resource shortages, MICs encounter challenges in global economic competition, driving persistent efforts to find practical solutions. Therefore, this study explores the i...

Under the background of general financial knowledge confidence and insufficient retirement planning, this study investigates the relationship between overconfident financial knowledge and consumer retirement planning. Using data from the National Financial Capability Study, this study employs probit regressions and finds that consumers with overcon...

Purpose Under the background of low consumer financial knowledge and accumulated credit card liabilities, this study investigates the relationship between financial knowledge and responsible credit card behavior using data from the 2019 China Household Finance Survey (CHFS). From the perspective of consumer economic well-being, this study defines a...

This study explores the nonlinear relationship between digital service trade and carbon emissions using the data of 42 G20 countries from 2005 to 2021. It is concluded that this relationship appears to be an inverted U-shape. When the digital service trade is inadequate, this exacerbates carbon emissions. Only when the digital service trade is abov...

The question of economic development is so essential that specialists, international leaders, and every government are continually working on how to tackle this problem. Renewable energy is a means to save planet's ecology and foster long-term economic viability. This study explores the asymmetric effect of renewable energy consumption (RE) on emer...

This study examines the nexus between disaggregated energy consumption (EC), CO 2 emissions, and economic growth in emerging South and East Asian countries over the period of 1994 to 2019. The long‐run equilibrium relationship is determined by using the “Autoregressive distributed lag (ARDL) model” and the “Generalized least square (GLS) technique....

This study examines the short-run and long-run impacts of foreign aid and remittances on economic growth in a panel of 31 African countries from 1980 to 2019 utilizing the ARDL Pool Mean Group (PMG) estimation technique. The PMG is utilized based on the outcome of the Hausman test which justifies it appropriateness. There is long-run association am...

Purpose With the development of financial technology (FinTech), this paper aims to investigate the association between mobile payment use and payment satisfaction using data from the 2017 China Household Finance Survey (CHFS). Design/methodology/approach This study uses ordered probit regressions to examine the association between mobile payments...

This study aims to investigate the associations between financial education and consumer stock market satisfaction. Consumer financial education is measured through the objective aspect incorporating formal and informal financial knowledge education, and the subjective aspect is reflected through consumers’ attitudes toward financial education. Usi...

The rapid development of financial technology (FinTech) has profoundly affected consumers’ financial life, especially their financial satisfaction. The advancement of FinTech has given momentum to the development of mobile payments to some extent. The objective of this study is to investigate the effects of FinTech applied to payments on consumer f...

The impact of trade openness on environment is of increasing concern to environmental practitioners, industrialists, and researchers. Unlike previous studies that only focus on the impact of trade openness on carbon dioxide (CO2) emissions, this study explores the relationship between trade openness and carbon productivity. To this end, we construc...

The growing economic uncertainty makes consumers realize the importance of financial preparedness and management ability. Based on the U.S. National Financial Capability Study dataset from 2009, 2012, 2015, and 2018, this study explores the nexus between consumer financial knowledge and financial behaviors of credit card use. The results indicate t...

This study aims to examine the impacts of ownership and innovation on the sustainable development of micro and small enterprises (MSEs). Using the dataset from the 2015 China Micro and Small Enterprise Survey, this study divides the ownership of MSEs into state ownership, collective ownership, private ownership, and foreign ownership. In this study...

With the development of the economy, family wealth continues to accumulate, and more and more consumers participate in financial management affairs. As an important way to improve financial knowledge, informal financial education is vital to consumer financial capability. Utilizing data from the 2012, 2015, and 2018 US National Financial Capability...

This study aims to examine the effects of energy efficiency (EE), renewable energy (RE), and other factors on the carbon emissions of Mexico, Indonesia, Nigeria, and Turkey (MINT). The study covers the time from 1990 to 2014. Unlike earlier studies, the current analysis considers EE a significant factor of CO 2 emissions in the MINT nations. MINT p...

The purpose of this paper is to investigate the relationship between institutional quality and foreign direct investment (FDI) inflows using panel data of 42 G20 countries from 2005 to 2020. The results indicate a positive association between them. Mediating analyses reveal that institutional quality attracts FDI inflows by increasing trade opennes...

The purpose of this paper is to investigate the association between FinTech payments and consumer financial satisfaction with cashless payments using data from the 2017 China Household Finance Survey. This study defines computer payment and mobile terminal payment using a cell phone or pad as payments with FinTech. The results indicate that payment...

This paper explores the impact and mechanisms of household debt on food expenditure. This study centers on panel data from the China Family Panel Studies (2012, 2014, and 2016) and employs a fixed-effect panel model to demonstrate that household debt can significantly reduce food expenditure share. In addition, this conclusion is quite robust regar...

To examine the relationship between foreign direct investment (FDI) inflows and carbon emissions from the perspective of the threshold effects of energy service availability and energy consumption cleanliness, this study employs the panel data of 16 Regional Comprehensive Economic Partnership member countries for the period 1990-2019. Using panel t...

This study investigates how carbon emissions and energy consumption related to the life satisfaction of Chinese households over the 2010–2018 period. The China Family Panel Studies (CFPS) data from 25 Chinese provinces shows that the effect of provincial carbon emissions on life satisfaction is positive, and increases in fuel and electricity consum...

Utilizing data from the U.S. National Financial Capability Study in 2018, the purpose of this study is to investigate the associations between financial confidence in dealing with unexpected expenditure (FCDUE) and consumer financial satisfaction, which is informative for policymakers and financial institutions to carry out more effective measures...

With the rapid economic growth and urbanization, the environment is continuously degrading, and the problem of global warming caused by increasing carbon emissions has been highly highlighted. Utilizing panel data of the Organization for Economic Cooperation and Development (OECD) countries from 1996 to 2018, this study aims to evaluate the effects...

With the accelerated development of the global economy, environmental issues have gradually become prominent, which in turn hinders further high-quality economic development. As one of the important driving factors, cross-border flowing foreign direct investment (FDI) has played a vital role in promoting economic development, but has also caused en...

The purpose of this study is to examine the impact of institutional quality on foreign direct investment (FDI) using panel data of 117 countries around the world from the period of 2001 to 2018. To enhance the accuracy of the estimation results, this study includes various statistical tests to select the estimation method that best fits the samplin...

The purpose of this paper is to investigate the association between household savings and subjective wellbeing using data from the China Household Finance Survey conducted in 2011, 2013, 2015, and 2017. The results indicate that the association between household savings and subjective wellbeing is nonlinear, showing an inverted U-shape, which impli...

Numerous studies have estimated the linkage of economic growth and environmental degradation in the framework of EKC theory with typical CO2 emissions proxy. However, the complexity of environmental degradation (ED) is better measured by ecological footprint (ECF) in any geographical territory. Against this background, the present study is an effor...

Though most countries in Sub-Saharan Africa (SSA) are agricultural-based, the region is a net importer of food and agricultural products and experiences the highest level of food insecurity globally. The government have a joint goal of achieving a favourable balance of trade and food security; hence this study examines the causal relationship betwe...

This study examines the impact of house price on money demand in case of China for the period of 1988Q1-2017Q4. The present study used different estimators, which are robust to handling the endogeneity issues in the data, to capture the long-run effect of housing price index on money demand while controlling for interest rate, gross domestic produc...

To investigate whether increasing trade openness results in more severe environmental problems, this study investigates the impact of trade openness on carbon dioxide (CO2) emissions using panel data from 64 countries along the Belt and Road from 2001–2019. Fully considering the potential heterogeneity, the panel quantile regression approach is uti...

Today's world is facing a serious challenge of high carbon emissions. A large number of studies are examining the deteriorating impact of carbon emissions at the country or firm level, but the literature on the voluntary carbon disclosure project (CDP) by cities is not rich. Therefore, this study seeks to examine the effect of the population (Pop)...

As China is becoming a domestic demand oriented economy, it is pertinent to address its household consumption-induced carbon emissions for ensuring environmental sustainability. Besides, managing the household consumption-induced carbon emissions is vital to the attainment of the nation’s carbon neutrality agenda of 2060. Hence, this study examines...

The global economy is rising continuously, with a 3-4% aggregate annual growth in output, which poses a severe threat to the environment due to a consistent rise in the use of fossil fuel. Given the disastrous climate change due to the industrialization and increasingly growing demands for energy, countries around the globe are devising strategies...

Despite the importance of energy efficiency (EE) in promoting economic growth (EG), the empirical evidence about the growth effect of EE is quite thin. This research intends to examine the heterogeneous impacts of EE, renewable energy consumption (REC), and other factors on EG of BRICS countries for 1990–2014. The empirical results unveil that EE i...

This study investigates the causal links among agricultural imports, agriculture productivity, and economic growth in 40 sub-Saharan African countries over the period 1990–2015. Granger causality tests are applied to infer direction of causality, and the generalized two-stage least squares instrumental variable technique is employed to estimate the...

Sustainable financial education is defined as the continuous input of money and time on financial knowledge education after formal schooling. The purpose of this paper is to examine the impact of sustainable financial education on consumer life satisfaction. Utilizing the dataset of Household Consumer Finance of Chinese Urban Residents in 2012 by t...

Subjective wellbeing is designed to consider positive experiences and to be descriptive of an overall assessment rather than focusing on specific experiences or aspects of an individual’s life. The purpose of this study is to investigate the relationships between the holding of risky financial assets and subjective wellbeing. Participation in finan...

Purpose Improvements in the facilitation of foreign direct investment (FDI) through institutional quality play a significant role in the establishment of an open economy. However, the impact of institutional quality on the facilitation of FDI along the Belt and Road countries is not well explored. This study aims to empirically investigate the infl...

The interactions of opinions on the complex networks are significantly impacted by the structure of the networks. Previous studies of this kind mainly investigated the opinion dynamics on the fixed networks as a kind of synchronization. In this study, we focus on how the opinions evolving on the growing networks. We provide isolated nodes with diff...

The adoption of energy-efficient and clean energy resources is crucial in reducing greenhouse gas emissions. The study analyzes the heterogeneous effects of energy efficiency (EE), renewable energy (RE), and other variables on carbon emissions within the context of the environment Kuznets curve (EKC) hypothesis in 66 developing countries from 1990...

The interactions of opinions on the complex networks are significantly impacted by the structure of the networks. Previous studies of this kind mainly investigated the opinion dynamics on the fixed networks as a kind of synchronization. In this study, we focus on how the opinions evolving on the growing networks. We provide isolated nodes with diff...

Many areas of exploratory data analysis need to deal with high-dimensional data sets. Some real life data like human gene, have an inherent structure of hierarchy, which embeds multi-layer feature groups. In this paper, we propose an algorithm to search for the number of feature groups in high-dimensional data by sequential minimax method and detec...

The purpose of this study was to examine associations between consumer financial capability and financial satisfaction. Consumer financial capability was measured by three sets of variables, perceived financial capability, financial literacy, and financial behavior. Using data from the 2009 US State-by-State Survey of Financial Capability, the resu...