Uncertainty shocks and monetary policy: evidence from the troika of China's economy

Hu, Chenpei; Shen, Zuiyi; Yu, Haijing; Xu, Bing

doi:10.1080/1331677x.2021.1952088

Cited by 7 publications

(6 citation statements)

References 20 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…As one of the "troika", investment is the most important driving force of economic growth. The most direct and effective way for the government to achieve rapid economic growth is to increase investment [49]. According to Lin and Chen [50], foreign direct investment can bring advanced production and technology to improve productivity, thereby promoting economic development.…”

Section: The Transmission Mechanisms and Hypothesesmentioning

confidence: 99%

How Energy Price Distortions Affect China’s Economic Growth and Carbon Emissions

Sha

2022

Sustainability

View full text Add to dashboard Cite

China’s energy market reform is characterized by “asymmetry” as a result of the transition from a planned economy to a market economy, leading to typical distortions in energy prices. Using panel data from 30 Chinese provinces during 2006–2018, this paper examines the impact of the price distortions of fossil energy sources (coal, oil, and natural gas) as well as renewable energy on China’s economic growth and carbon emissions. The results show that coal price distortion is the highest among the fossil energy sources, followed by oil and natural gas. Renewable energy price is positively distorted. Not all price distortions of energy sources significantly impede economic growth—only those of coal and renewable energy. In contrast, oil and natural gas price distortions promote economic growth. All four energy price distortions contribute significantly to the increase in carbon emissions. Further analysis reveals that regional heterogeneity exists in the impact of energy price distortions on economic growth and carbon emissions. Additionally, this study finds that technological innovation, industrial structure upgrading, the investment effect, the optimization of energy consumption structure, and environmental regulations are important transmission mechanisms of energy price distortions affecting China’s economic growth and carbon emissions. The findings of this study can help us to understand the relationship between energy price distortions and China’s economic growth and carbon emissions, and provide a reference for formulating energy price reform policies that benefit the win-win development of China’s economy and environment.

show abstract

Section: The Transmission Mechanisms and Hypothesesmentioning

confidence: 99%

How Energy Price Distortions Affect China’s Economic Growth and Carbon Emissions

Sha

2022

Sustainability

View full text Add to dashboard Cite

show abstract

“…Additionally, the existence of uncertainty shocks can be triggered by a range of unexpected events, capable of generating significant market instability. These events encompass global financial crises, the severe acute respiratory syndrome (SARS) epidemic and the COVID-19 pandemic (Caporale et al, 2022;Hu et al, 2022;Ha et al, 2021;Stoker et al, 2019;.…”

Section: Introductionmentioning

confidence: 99%

“…These events encompass global financial crises, the severe acute respiratory syndrome (SARS) epidemic and the COVID-19 pandemic (Caporale et al. , 2022; Hu et al. , 2022; Ha et al.…”

Section: Introductionmentioning

confidence: 99%

Exogenous shock: hierarchical effect of the industrial entrepreneur confidence in the mist of the COVID-19 pandemic

Conceição,

Lima

2023

RBF

View full text Add to dashboard Cite

PurposeIn the context of investment decisions, the intricate interplay between exogenous shocks and their influence on investor confidence significantly shapes their behaviors and, consequently, their outcomes. Investment decisions are influenced by uncertainties, exogenous shocks as well as the sentiments and confidence of investors, factors typically overlooked by decision-makers. This study will meticulously examine these multifaceted influences and discern their intricate hierarchical nuances in the sentiments of industrial entrepreneurs during the COVID-19 pandemic.Design/methodology/approachEmploying the robust framework of the generalized linear latent and mixed models (GLLAMM), this research will thoroughly investigate individual and group idiosyncrasies present in diverse data compilations. Additionally, it will delve deeply into the exogeneity of disturbances across different sectors and regions.FindingsRelevant insights gleaned from this research elucidate the adverse influence of exogenous forces, including pandemics and financial crises, on the confidence of industrial entrepreneurs. Furthermore, a significant discovery emerges in the regional analysis, revealing a notable homogeneity in the propagation patterns of industrial entrepreneurs' perceptions within the sectoral and regional context. This finding suggests a mitigation of regional effects in situations of global exogenous shocks.Originality/valueWithin the realm of academic inquiry, this study offers an innovative perspective in unveiling the intricate interaction between external shocks and their significant impacts on the sentiment of industrial entrepreneurs. Furthermore, the utilization of the robust GLLAMM captures the hierarchical dimension of this relationship, enhancing the precision of analyses. This approach provides a significant impetus for data-informed strategic directions.

show abstract

“…Investment, consumption, and export are the troika driving China's economic development [1]. As one of China's key pillar industries, strengthening infrastructure development and improving investment in the power sector is of the utmost importance.…”

Section: Introductionmentioning

confidence: 99%

A Novel Hybrid Power-Grid Investment Optimization Model with Collaborative Consideration of Risk and Benefit

Gao,

Wang,

et al. 2023

Energies

View full text Add to dashboard Cite

Power-grid investment (PGI) optimization is crucial for boosting investment performance, lowering investment risks, and assuring the sustainable development of power-grid businesses. However, existing studies, which primarily concentrate on financial aspects, have not adequately considered the risk and benefit factors in the process of PGI. In this context, this research suggests a novel hybrid PGI optimization model that collaboratively accounts for the risks and benefits. In the first step, risk and benefit indicator systems for PGI are built, and a comprehensive evaluation model based on the Bayesian best–worst method and TOPSIS is suggested. In the second stage, a PGI optimization model considering the investment amount, power demand, and low-carbon restrictions is further developed based on the evaluation results. Furthermore, the incomprehensible but intelligible-in-time logic algorithm is adopted to solve the problem. By conducting an empirical analysis of ten projects within a power-grid company, the optimal investment plan and a differentiated investment portfolio strategy are obtained by adjusting the key elements.

show abstract

Uncertainty shocks and monetary policy: evidence from the troika of China's economy

Cited by 7 publications

References 20 publications

How Energy Price Distortions Affect China’s Economic Growth and Carbon Emissions

How Energy Price Distortions Affect China’s Economic Growth and Carbon Emissions

Exogenous shock: hierarchical effect of the industrial entrepreneur confidence in the mist of the COVID-19 pandemic

A Novel Hybrid Power-Grid Investment Optimization Model with Collaborative Consideration of Risk and Benefit

Contact Info

Product

Resources

About