Long-term Stable Relationship Research Articles

Research on the Influence of Shanghai Import Trade Structure on Technological Progress

Based on the statistical data from 1995 to 2018, this paper uses regression analysis, error correction model and impulse response analysis to empirically test the specific impact of import trade structure on Shanghai's technological progress. The results show that the decrease in the proportion of intermediate goods imports promotes the technological progress, while the increase in the proportion of capital goods imports has a significant positive impact on Shanghai's technological progress. The relationship between FDI and technological progress in Shanghai is negative. The development of Finance and the increase of patent authorization promote the technological progress of Shanghai. The stability test of VEC model shows that there is a long-term equilibrium and stable relationship among the variables. Impulse response analysis shows that there is a bidirectional interaction between the import trade structure and Shanghai's technological progress. Therefore, we should further reduce the quantity of intermediate goods with low technology content and increase the import volume of capital goods appropriately. At the same time, we should attach importance to innovation based on introduction and absorption, and use the platform of China International Import Expo to attract foreign enterprises to widely display new products, new technologies and new services of various countries, so as to help high-quality development in the future.

Empirical Analysis on the Impact of Energy Output and Industrial Structure Adjustment on Economic Growth in Shanxi Province, China : from the Perspective of SVAR

Based on the time series data of Shanxi Province from 1989 to 2018, this paper constructs the SVAR model (structural Vector autoregression). Using impulse response function, variance decomposition and other tools, this paper makes an empirical study on the relationship between economic growth, industrial structure adjustment and energy output in Shanxi Province. The correlation and contribution rate among energy output, industrial structure adjustment and economic growth are evaluated dynamically. The main conclusions of this paper are as follows: there is a long-term stable relationship among the economic growth, the proportion of the gross output of the secondary industry and the output of the primary energy; when the proportion of the Gross Domestic Product of the secondary industry and the output of the primary energy have a dynamic impact on economic growth, their responses are not the same; by comparison, the impact of industrial restructuring on the economic growth of primary energy is greater than the pulling effect of output.

Does over a century of aerobic phage work provide a solid framework for the study of phages in the gut?

Bacterial viruses (bacteriophages, phages) of the gut have increasingly become a focus in microbiome studies, with an understanding that they are likely key players in health and disease. However, characterization of the virome remains largely based on bioinformatic approaches, with the impact of these viromes inferred based on a century of knowledge from aerobic phage work. Studying the phages infecting anaerobes is difficult, as they are often technically demanding to isolate and propagate. In this review, we primarily discuss the phages infecting three well-studied anaerobes in the gut: Bifidobacterium, Clostridia and Bacteroides, with a particular focus on the challenges in isolating and characterizing these phages. We contrast the lessons learned from these to other anaerobic work on phages infecting facultative anaerobes of the gut: Enterococcus and Lactobacillus. Phages from the gut do appear to adhere to the lessons learned from aerobic work, but the additional challenges of working on them has required ingenious new approaches to enable their study. This, in turn, has uncovered remarkable biology likely underpinning phage-host relationships in many stable environments.

The Relationship between Urbanization and Domestic Energy Consumption: An Empirical Study of Shandong Province, China

The rapid development of urbanization has led to a rapid increase in total energy consumption. The proportion of domestic energy consumption to total energy consumption has gradually increased and has become the major driving force for energy consumption. With the pressure from urbanization and domestic energy consumption, it is necessary to study the impact of urbanization on domestic energy consumption of the regional level and to explore the function paths of these two factors. The findings are helpful to realize sustainable development based on the actual situation analysis, horizontal survey data and statistical yearbook panel data. The current situation and changing trends in domestic energy consumption of Shandong Province are systematically examined through field investigation and survey questionnaire. The time-series econometric model is applied to analyze the relationship between urbanization rate and total domestic energy consumption. The research results show that the total domestic energy consumption and urbanization rate of Shandong are generally increasing. The urbanization rate development and domestic energy consumption have a long-term stable and balanced relationship. An increase in urbanization rate can cause an increase in domestic energy consumption. There is a slight difference between the average total energy consumption levels of urban and rural residents, but their energy consumption structures differ a lot. These findings provide basic data support and reference for local governments to formulate energy- conservation and emission-reduction policies.

NETWORK INTERACTION OF TRADE MARKET ENTITIES IN THE CURRENT STATE OF INFRASTRUCTURE

Introduction. In the conditions of growing uncertainty of the external environment there is a neces-sity of development of economic models and the mechanisms allowing to adapt economic activity of subjects to constantly changing tendencies of the modern market. The development of integration and cooperation helps to create the preconditions for the formation of special organizational forms of cooperation, which can include network business associations. In this regard, the role of research aimed at studying the business processes of network interaction is actualized. The purpose of the article is to conduct a theoretical generalization and justification of the effectiveness of network interaction of the modern commodity market, taking into account the current state of infrastructure. Results. It is determined that networks are a reliable way to obtain competitive advantages of the region and the country, a guarantee of sustainability and development of enterprises, industries. The future of the commodity market entity that enters the network depends on how effective the network interaction will be - its competitive position, consumer loyalty, the effectiveness of the network as a whole. A number of factors can contribute to the construction of a system of effective interaction: the level of development of the principles of the new economy in the country, the institutional environment of interaction, the degree of openness of the economy and its readiness for network transformations. Conclusions. Formation and maintenance of stable long-term relationships with distributors, suppliers, consumers, staff poses a new challenge to economic structures, which is to organize a system of interaction that would ensure the association of the company supported on the basis of mutually beneficial business cooperation of its consumer group. The success of a commodity market player in competition will largely depend on how effectively the system works. The optimal form of interaction in the transition to a modern economy is a network form of organization of economic structures. Keywords: market actors, network structures, interaction, environment, infrastructure, market, management, integration.

The Impact of R&D Input on Technological Innovation: Evidence from South Asian and Southeast Asian Countries

In the era of the rapid development of knowledge economy and science, all countries have thought highly of technical innovation and greatly increased the R&D input for it. However, the research on the impact of R&D input on technical innovation lacks specialized, cross-country, and cross-time investigations, and especially, the research on small countries such as South Asia and Southeast Asia where technical innovation is relatively backward. So, does R&D input in South Asia and Southeast Asia have an impact on technical innovation and to what extent? Let us analyze the panel data of 18 countries in South Asia and Southeast Asia from 2001 to 2018, use three methods of unit root test to test the stationarity of variables, adopt the Kao cointegration test to test a stable long-term relationship between the variables, and then, respectively, carry out the transnational regression analysis of the difference between patent applications, scientific journal articles, and the R&D input with multiple models. Finally, the heteroscedasticity robust fixed-effect model is found to be the most suitable for this study after the comparative analysis of multiple models. Through the fixed-effect intercepts of each country in the heteroscedasticity robust fixed-effect models, South Asian and Southeast Asian countries are divided into three levels, and each level lists a set of equations. So, the following conclusions are drawn: both R&D expenditure and manpower input in South Asia and Southeast Asia significantly promote technological innovation; the efficiency of both R&D expenditure and manpower input promoting technological innovation in South Asia and Southeast Asia is low and needs to be improved. These conclusions provide references for policymakers in some countries where technological innovation is relatively backward, especially in Cambodia, Lao PDR, Myanmar, Timor-Leste, Bangladesh, Bhutan, Maldives, and Nepal.

Empirical Analysis of the Impact of International Crude Oil Price Fluctuation on China's Stock Market

The price of oil, known as black gold, has always attracted the attention of countries around the world. It is already a consensus that international oil prices affect economic operations, and naturally will affect the stock market which is regarded as a barometer of economic operations. The purpose of writing this article is to reveal the impact of international crude oil price fluctuations on China's stock market. In order to solve this problem, the author of this paper selected two sets of time series of Brent crude oil spot price and Shanghai Stock Index, and used Eviews software to perform various econometric tests such as cointegration test, Granger causality test, impulse response function, and decomposition of variance. It is found that there is a long-term stable cointegration relationship between the international oil price and the Shanghai Stock Index, and that the international oil price is the Granger cause of the Shanghai Stock Index. Furthermore, the former has a positive dynamic impact on the latter as a whole. It reached its maximum by the middle of the third month, and then slowly decreased to stabilize. Compared with the results of other similar studies, this article draws more accurate conclusions thanks to the latest, more realistic data without much artificial processing. The conclusions of this paper can help stock investors and economic decision makers to make more effective decisions.

Can Executives’ Military Experience Mitigate Stock Price Crash Risk？From the Perspective of Executives’ Human Capital and Social Capital

The global spread of “COVID-19” has severely attacked the real economy and the financial market. How to maintain the order of the capital market has become a common concern of the government and investors. This paper examines the influence of executives’ military experience on the stock price crash risk. The empirical results show that the military experience of executives can reduce the stock price crash risk effectively, and the chairman’s military experience plays a more significant role. After controlling the endogeneity problem by Propensity Score Matching （PSM）, Heckman two-stage regression and change of dependent variables, the conclusion remains unchanged. Further, when the company has non-top ten audits and when local government officials have military experience, the stock price crash risk of the company whose executives have military experience reduces more prominently. In other words, the military experience weakens executives’ motivation to hide bad news through the following two mechanisms: （1） Executives’ military experience has an imprinting effect. Strict discipline standards in military life enable soldiers to have high moral standards, sense of honor and responsibility, integrity and self-discipline, and other good qualities, which have an imprinting effect on executives’ disclosure behavior. When the corporate governance environment is poor, the self-restraint mechanism of military corporate executives can be an alternative to the formal corporate governance mechanism. （2） The social network formed between military corporate executives and military government officials has a resource effect and a supervision effect. Based on the common military experience, corporate executives and government officials build a social network, which can provide enterprises with powerful resource support and reduce the probability of getting into financial trouble; at the same time, the intent of maintaining the long-term stable relationship discourages executives’ behavior of hiding bad news. We have the following three probable contributions: Firstly, from the perspective of executives’ human capital and social capital, we find the pathway of how executives’ military experience influences their information disclosure behavior. Secondly, we theoretically enrich the relevant literature on the factor affecting the stock price crash risk and the impact of executives’ military experience on corporate governance. Finally, this paper has implications for how enterprises in emerging markets to optimize the structure of executive teams.

Trade openness and economic growth quality of China: Empirical analysis using ARDL model

This paper studies the influential relationship between Chinese opening up and economic growth quality in China under exchange rate fluctuation from 1994 to 2018. There is a long-term stable co-integration relationship between opening-up and the quality of economic growth. Trade openness can significantly promote the quality of economic growth in both the short and long term. When the short-term fluctuation deviated from the long-term equilibrium, the quality of economic growth can remain stable through automatic adjustment. The positive impact of trade openness on quality of economic growth had a significant regional heterogeneity and non-linear threshold characteristics.

Extended Exogenous Growth Model: Application and Investigation the Long-Term Growth Determinants of Bangladesh

This study explored various exogenous growth theories and investigated the determinants of the long-term economic growth of Bangladesh. The study estimated the extended exogenous growth model to find the factors of long-term economic growth by exploring the macroeconomic choice variables. The study analyzed the determinants of long-term economic growth by using the annual time-series data from the World Development Indicators (WDI) database from 1985 to 2018. The Autoregressive Distributed Lag (ARDL) and Bounds Test were applied to find the long-term cointegration relationship between the variables, and the Error Correction Model (ECM) identified a stable long-term relationship. The results showed a long-term positive and negative cointegration relationship between economic growth and its estimated determinants. The results found that economic growth has a positive relationship with government consumption expenditure, fertility rate, inflation rate, and agricultural sector growth, and a negative association with population growth. The overall findings of the study contradict the empirical results of the extended exogenous growth model. The study suggests that the Bangladesh government should promote the research and development sector and give importance to technological improvement, stock of human capital growth, capital stock expansion, and governmental actions.

Impact of Foreign Direct Investment on Economic Growth in Ethiopia

The aim of the study is to investigate the Impact of Foreign Direct Investment on economic growth in Ethiopia by using annual time series data from the periods of 1982 to 2018. To achieve this objective the Descriptive and Econometric analysis were processed. The Ordinary Least square (OLS) method approach was employed to assess the model in the long run. The empirical results points out that as foreign direct investment has a positive and significant impact on the economic growth of Ethiopia. Beside this other variables such as gross capital formation, gross domestic saving and infrastructural level also have positive and significant contribution on the economic growth and enhance the growth of the country. Error-correction model (ECM) has been used to support the existence of a stable long-term relationship and confirm a deviation from the long-term equilibrium. The finding of error-correction model revealed that there was a deviation of the actual growth of the country from its equilibrium value that eliminated every years and indicates a short run deviation of growth from the long run equilibrium. In doing so, the Diagnostic and Unit root tests were conducted to guard the model from spurious results. Based on the finding of the study the researcher recommended that all concerning bodies to be utilized properly and wisely the opportunity of foreign direct investment out comes as it continues to increase the economic growth and motivate them as they enter in to the country for investment.

Analyzing the Relationship between Budget Deficit, Current Account Deficit, and Government Debt Sustainability

The main purpose of this study is to determine the dynamic relationships between budget deficit, current account deficit, and government debt sustainability during 1974-2015 in the Iranian economy. We used a VAR model with Impulse Functions and Variance Decomposition in our dynamic analysis. The results show that there is a long-term stable relationship among the variables of the model suggesting that to improve the government debt sustainability it has to reduce the budget deficit and current account deficit. Since Iran's dependence on oil revenues is the underlying cause of the dependence of the variables on each other, the government needs to reduce the dependence of the current account and the state budget on oil revenues to reduce both types of deficits and government debt sustainability.

Dinámica entre cantidades y precios de la cadena láctea argentina: un análisis de cointegración estructural

En el presente trabajo se aborda la dinámica entre cantidades y precios, tomando como base una de las actividades económicas con mayor relevancia en el sistema económico argentino, con el fin de analizar las relaciones entre estas variables, claves en el conocimiento del desempeño sectorial. Para tal objetivo, se utilizó un modelo de vectores de corrección de error, para incorporar la simultaneidad existente en la definición de dichas variables endógenas en el contexto multinivel de la cadena productiva; se agregó, además, información exógena sobre características de oferta y demanda de la actividad en sus distintos niveles. A partir de lo anterior, se procedió a realizar un análisis de largo y corto plazo sobre la dinámica encontrada para todos los niveles de la cadena y, como resultado, se observaron relaciones estables de corto y largo plazo, en las que el precio mayorista fue una de las más importantes; además se conoció la dinámica mercado interno-externo y su relación con el nivel primario.

Macroeconomic variables and stock market indices: Asymmetric dynamics in the US and Canada

While the relationship between stock market returns and macroeconomic variables have been amply examined, there is a gap in the literature when it comes to the relationship between different sector indices and various macroeconomic variables. This study examines how certain macroeconomic variables influence different sectors of the stock market differently in the US and Canada. Using monthly data over the 2000–2018 period, a cointegration analysis is applied to model the relationship between industrial production, money supply, long-term interest rate, and different sector indices. Sectors that have been examined in this study include energy, financials, real estate, industrial, healthcare, consumer discretionary, and consumer staples. Results suggest that there is a stable long-term relationship between the macroeconomic variables used in the study and different sector indices for the US but not for Canada. However, US money supply and interest rate can explain the Canadian stock market. The results suggest important insights for private investors, pension funds, and governments as long-term investors often base their decision to invest in equities on the stated macroeconomic variables.

Herding mechanisms to maintain the cohesion of a harem group: two interaction phases during herding

In animal groups, individual interactions achieve coordinated movements to maintain cohesion. In horse harem groups, herding is a behavior in which males chase females from behind; it is considered to assist with group cohesiveness. However, the mechanisms by which the individuals move to maintain group cohesion are unknown. We applied novel non-invasive methods of drone filming and video tracking to observe horse movements in the field with high temporal and spatial resolution. We tracked all group members and drew trajectories. We analyzed the movements of females and found two phases of interactions based on their timing of movement initiation. The females that moved first were those nearest to the herding male, while the movement initiation of the later females was determined by the distance from the nearest moving female, not by the distance from the herding male. These interactions are unique among animal group movements and might represent a herding mechanism responsible for maintaining group cohesion. This might be due to long-term stable relationships within a harem group and strong social bonds between females. This study showed that the combination of drone filming and video tracking is a useful method for analyzing the movements of animals simultaneously in high resolution.

Are Exports More Responsive to Clean or Dirty Energy? The Case of Vietnam’s Exports to 54 Countries

In this paper we examine the influence of clean (hydropower) or dirty (fossil fuel generated) energy on bilateral exports. We focus on bilateral exports from Vietnam, a developing nation with a fast-growing economy propelled by international trade, to her top 54 trading partners over the period 1986–2010. Our key results suggest that there is a significant, positive, and stable long-term relationship between electricity and exports, with some variations across the regional panels of the trading partners and electricity sources. Trading partners of Vietnam are sensitive to how electricity is generated. For trading partners from regions excluding low income Asia, bilateral exports respond more to renewables than fossil fuel generated electricity, which indicates that exports are sensitive to certain qualities of energy sources, namely reliability and price competitiveness.

Content Validity of the Premature Ejaculation Profile, Original and Per-Event Formats, in Men with Lifelong Premature Ejaculation

BackgroundThe Premature Ejaculation Profile (PEP) is a patient-reported outcome (PRO) measure that is widely used in clinical research in men with premature ejaculation (PE) but has not been fully validated for men meeting the current International Society for Sexual Medicine (ISSM) definition of lifelong PE. AimTo explore the content validity of the PEP (original 1-month recall version and new event-driven version) in men meeting current definitions of lifelong PE and to understand the relevance of the concept of ejaculation control. MethodsIn-depth individual interviews were conducted with 24 men in a stable heterosexual relationship, including 15 with lifelong PE, 4 with acquired PE (with intravaginal ejaculation latency time values confirmed during a 4-week period of no treatment), and 5 with no sexual dysfunction. Initial concept elicitation explored individual experiences of having PE (in those with PE), experiences of control, and impact on sexual life. This was followed by a cognitive debriefing of the PEP versions. Main Outcome MeasureThematic analysis was used to identify key concepts of PE, understand the experience of control in men with and without PE, and confirm understanding and relevance of questions from original and event-driven versions of the PEP. ResultsThe interviews confirmed substantial negative consequences for men with lifelong PE. Men with and without PE could describe ejaculation control (or lack of it). The PEP was shown to cover the key concepts in PE, and the questions were easily understood in both the original or event-driven versions. The items were comprehensive, and the concept of ejaculation control was confirmed. A 1- or 2-category change in each item of the PEP was considered clinically meaningful. Clinical ImplicationsThe PEP (original and per-event) has strong content validity for use in clinical research studies of men meeting the ISSM definition of lifelong PE. Strengths & LimitationsThis study addressed gaps in previously published research on the development and validation of the PEP and also confirmed that a new event-driven version is also suitable for use in research. However, the study was limited mainly to men meeting a strict definition of lifelong PE; in addition, homosexual men and those not in stable long-term relationships were not studied. ConclusionBoth the original and per-event PEP versions were shown to have strong content validity and be acceptable for use in men with lifelong PE.Burbridge C, Symonds T, Osterloh IH, et al. Content Validity of the Premature Ejaculation Profile, Original and Per-Event Formats, in Men with Lifelong Premature Ejaculation. J Sex Med 2019;16:569–576.

Quantitative analysis of energy consumption and economic growth in China

Economic development is closely related to the energy industry. With the rapid economic growth and the continuous improvement of people’s living standards, China’s demand for energy is also increasing. How to properly handle the relationship between energy consumption and economic growth is of great significance for the sustainable development in China. In this article, we have made research on co-integration and causality of China’s energy consumption and economic growth. We have obtained conclusions that there is a long-term stable relationship between energy consumption and economic growth, and there is a unidirectional causality from economic growth to energy consumption.

The influence of extortion strategies on the evolution of cooperation in the scale-free network

Extortion strategies can unilaterally transcend any opponent’s expected payoffs and promote cooperative behaviors in an iterated prisoner’s dilemma game. However, extortion strategies have the evolutionary instability if the players game with uniform structure. In this paper, we study the influence of extortion on the evolution of cooperation in the scale-free network with the player’s game payoffs calculated by average payoffs and the strategy update rule according to the replicator dynamics rule. Firstly, we study the stability of evolutionary game results after introducing the extortion strategy and the influence of evolution extortion on cooperation. In addition, we compare the results of our model with the donation games of the accumulated payoff in the BA networks. Moreover, we study the influence of the model parameters on game results. The results show that extortion can form long-term stable relationships with neighbors and the average payoffs’ inhibiting effect of cooperative behaviors disappear after introducing the extortion strategies in the scale-free network. The smaller value of the extortion actor and the benefit factor have a greater effect on the stability density of the strategies but the initial strategy density does not.

The role of farmers’ trust, risk and time preferences for contract choices: Experimental evidence from the Ghanaian pineapple sector

We study the role of trust, risk and time preferences for farmers’ contract choices in a discrete choice experiment among Ghanaian pineapple farmers. We find that experimental measures of trust, risk and time preferences can predict preferences for contract attributes. Especially trust has economically important negative effects on the willingness to pay for high transparency in quality controls. Differences in preferences for timing of payment and timing of agreement making are partly explained by trust preferences and partly by time preferences. The importance of risk-sharing in form of lower quality grades accepted by the buyer increases with farmers’ risk-aversion, while risk preferences do not seem to be related to the timing of agreement making. Our results indicate that preferences affect farmers’ participation constraints and argue that a diversification of contract offers might increase the willingness of farmers to participate in contract farming. This has implications for companies who aim at developing stable long-term relationships with farmers.