Spillover Effects Research Articles

Effect of popular culture on tourism firms' market value:A destination brand equity perspective

Popular culture provides numerous benefits to destinations, enhancing their image, reputation, and sales. While previous research on its impact on tourism has predominantly focused on individuals’ perception and behavior toward a destination, little attention has focused on its potential spillover effect on the tourism and hospitality firms. This spillover can create destination brand-related intangible assets that positively influence firm value. Based on the customer-based brand equity theoretical framework, this study reveals that popular culture significantly affects the firm value of the tourism and hospitality industries, with notable effects observed two days after the event. Individual companies operating under the umbrella brand of a destination gain advantages from the improved brand knowledge associated with that overarching brand. The findings also highlight that the unique characteristics and nuances of popular cultural content, such as its genre, popularity scope, and celebrity effect, play a crucial role in shaping the magnitude of its impact.

Coupling between global climate policy uncertainty and economic policy uncertainty

This paper aims to track global climate policy uncertainty (GCPU) and study its impact on economic policy. We develop a news-based index for GCPU spanning from 2000 to 2023, covering twelve countries across six continents. The index exhibits an upward trend after the adoption of the Paris Agreement in 2015 and spikes during major climate policy events. We examine the spillover effects from GCPU to global economic policy uncertainty (GEPU) using the copula-conditional value-at-risk approach. Our findings suggest that GCPU has significantly influenced GEPU in both upside and downside movements, with a greater effect on the upside.

Exploring the dynamic relations between second language students’ classroom engagement and task value belief: A longitudinal study

BackgroundStudent engagement and subjective task value belief are critical psychological constructs driving the second language (L2) learning process. L2 research has established the positive effect of subjective task value belief on student engagement in the L2 classroom, while the reverse effect has received some theoretical and empirical support in the broader field of educational psychology. However, theoretically grounded empirical work on testing the reciprocal relationship between these two constructs remains absent in L2 research. AimThis study sought to examine the longitudinal reciprocal relationship between L2 students’ classroom engagement and their subjective task value belief – the relationship that is neither sufficiently theorized nor empirically tested in the L2 learning context. SampleData were collected across three time points over an academic semester from 920 undergraduate students learning English as a foreign language in Vietnam. MethodRandom intercept cross lagged panel modelling was conducted to examine the carry-over (or autoregressive) effects of L2 students' subjective task value belief (or their classroom engagement) at one time on itself at a subsequent time, as well as the concurrent effects and spill-over (or cross-lagged) effects of L2 students’ subjective task value belief on their classroom engagement and vice versa. ResultL2 students’ classroom engagement and their subjective task value belief not only co-varied within individuals concurrently, but variation in one construct led to subsequent variation in another over the semester. ConclusionFindings confirm the dynamic, situation- and time-specific patterns of relationship between the two constructs in line with the expectancy value theory (Eccles & Wigfield, 2020a) and the development-in-sociocultural context model of student engagement (Wang, Henry, & Degol, 2020).

Spatial dynamics of incoming movers and the state‐led gentrification process: The case of Rotterdam

AbstractAlthough gentrification and its associated changes in residential mobility have been widely studied, surprisingly little attention has been paid to the changing origin locations of gentrification‐related residential moves. In this study, we use fine‐grained register data from the Dutch Central Bureau of Statistics to uncover changing residential mobility patterns to and within the city of Rotterdam, the Netherlands. We identify that the state‐led gentrification process goes hand in hand with the changing socioeconomic characteristics of in‐movers and the changing origin locations of residential moves. The city of Rotterdam increasingly attracts middle‐ to high‐income households from other core cities in the Netherlands, a process that we understand as inter‐urban gentrification spillover. In parallel, intra‐urban moves by economically vulnerable residents are declining, especially toward and within gentrifying neighborhoods. This represents evidence of exclusionary displacement. We conclude that the spillover effects of contemporary gentrification should be understood beyond an intra‐urban metropolitan perspective since gentrification in one city can enhance gentrification in another.

Study on spatial spillover effect of haze pollution based on a network perspective

Study on spatial spillover effect of haze pollution based on a network perspective

Volatility spillover effect analysis of African emerging stock exchange markets: 2018–2023

Volatility spillover effect analysis of African emerging stock exchange markets: 2018–2023

Assessing the sovereign-bank interdependence in Eurozone core countries

PurposeThe aim of this study is to determine whether financial contagion is transmitted through macroeconomic fundamentals, not only in weaker countries but also in strong European Monetary Union (EMU) economies.Design/methodology/approachThis study conducts, for the first time, an analysis of the spillover effects resulting from a shock to Italian sovereign risk on the banking systems and credit default swaps (CDS) of five EMU core countries during the period 2012–2018, employing a global vector autoregressive (GVAR) approach. Spatial interdependence is quantified through the cross-country distance in the deficit-to-gross domestic product (GDP) ratio.FindingsThe findings reveal the existence of both a “doom-loop” between banks and sovereign bonds and a “bad neighbours” effect. The susceptibility to spillovers is notably higher in economies displaying a larger deficit-to-GDP ratio. These results suggest that differences in fiscal fundamentals could drive financial contagion even within core countries, indicating a need for evaluating the stability of the entire EMU system.Originality/valueUnlike previous studies, we utilize the cross-country distance in the deficit-to-GDP ratio as a measure of fiscal fundamentals distance for the countries under investigation. To the best of our knowledge, our study is the first to analyse this matter in EMU core countries using a GVAR methodology.

Neighbor's profit or Neighbor's beggar? Evidence from China's low carbon cities pilot scheme on green development

China has implemented three sets of low-carbon city pilot policies (LCCP), making it the world's most extensive low-carbon and green development program. Many studies have examined the impact of this policy on green development. However, studies rarely discuss spillover effects. This deficiency can lead to biased policy evaluations. This study employs a quasi-experimental approach to investigate the spillover effects of LCCP on the green total factor productivity (GTFP) of neighboring non-pilot cities and identify the underlying mechanisms. Using panel data from 283 cities in China spanning from 2004 to 2020, this study employs the time-varying difference-in-difference method. The empirical evidence suggests that LCCP can significantly enhance the GTFP growth of non-pilot cities located within 100 km, with an average annual increase of approximately 1.43%. Mechanism analysis indicates that increasing technological innovation and learning from the pacesetter play crucial intermediary roles in promoting GTFP improvements in neighboring cities. Furthermore, the spillover effects exhibit noticeable heterogeneity, particularly among cities in the eastern region, middle region, and large cities. These findings provide empirical evidence regarding the spillover effects of China's largest carbon pilot policies, contributing to a comprehensive assessment of policy impacts and offering fresh insights for climate policy tools.

Spatial–Temporal Development Trends and Influencing Factors of Government Environmental Information Disclosure: Empirical Evidence Based on China’s Provincial Panel Data

Government environmental information disclosure (GEID) plays an important role in promoting the digital transformation of environmental governance, leading the concept of sustainable development, enhancing public oversight capacity, and promoting democratic decision-making governance. Using provincial panel data from China spanning from 2009 to 2021, we conducted spatial data exploratory analysis and used the dynamic spatial panel model to investigate the spatial–temporal development trends and influencing factors of GEID. The results show that (1) GEID in China exhibits significant spatial agglomeration characteristics, with an “H-H” (High-High aggregation type) agglomeration characteristic observed in three national strategic development regions: Yangtze River Delta, southeast coastal areas, and Beijing–Tianjin–Hebei region. (2) The spillover effect from the southeast coastal provinces gradually radiates to the northwest, resulting in an overall westward movement of GEID. (3) GEID exhibits a significant path-dependency feature in the temporal dimension and a “peer effect” in the spatial dimension. (4) Population size has the greatest impact on GEID. Population size, public participation, and the industrial and transportation sectors positively influence GEID improvement at the local level. However, they generate negative spillover effects to neighbouring provinces. Environmental status and the size of the Real Estate sector have no significant effect. Therefore, China should strengthen regional cooperation, narrow regional disparities, cultivate new quality productive forces, establish a government-led proactive disclosure mechanism under public supervision, and improve the level of GEID at the national level.

Impact of Environmental Regulation on the Resilience of Marine Economy: A Case Study of 11 Coastal Provinces and Cities in China

Enhancing marine economic resilience is a necessary response to both domestic and international shocks, and it is also key to achieving the sustainable development of the marine economy. In recent years, rising uncertainties both domestically and internationally have posed significant challenges to the resilience of China’s marine economy. In response, China has continuously strengthened its environmental regulations, influencing the resilience of its marine economy through various environmental regulations. This paper measures marine economy resilience index using panel data from 11 coastal provinces and municipalities in China from 2010 to 2019. It empirically examines the direct impact, spatial spillover effects, and mediating mechanisms of environmental regulations on marine economy resilience. The results show that: (1) Environmental regulations significantly enhance the resilience of the marine economy. Among the various environmental regulation tools, command-and-control regulations have a stronger effect in promoting marine economic resilience compared to market-incentive regulations. (2) Environmental regulations exhibit spatial spillover effects in enhancing marine economic resilience, and the spatial influence of different regulatory tools is heterogeneous. (3) The optimization of marine industrial structure serves as a crucial avenue for environmental regulations to enhance the resilience of the marine economy. This study offers theoretical support and a scientific basis for the adjustment and optimization of environmental regulations and the enhancement of marine economic resilience, while also contributing to the sustainable development of the marine economy.

Associations of close social connections with smoking and vaping: a population study in England.

Studies consistently demonstrate smoking is a socially contagious behaviour, but less is known about the influence of social connections on vaping. This study examined associations between having close social connections who smoke or vape and relevant smoking and vaping outcomes. This was a representative cross-sectional survey of adults (≥16y) in England. Participants (n=1,618) were asked how many people they discuss important matters with (i.e., close social connections) and how many of them smoke/vape. We tested associations between (i) smoking and (ii) vaping among close social connections and participants' own smoking and vaping status; harm perceptions of e-cigarettes (among current smokers); attempts and success in quitting smoking (among past-year smokers); and use of e-cigarettes as a smoking cessation aid (among past-year smokers who tried to quit). Adults with ≥1 close social connection who smoke were more likely than those with none to smoke themselves (32.8% vs. 9.4%; ORadj=7.23[95%CI 4.74-11.0]) and had an uncertain lower likelihood to quit (12.2% vs. 19.8%; ORadj=0.46[0.17-1.23]). Those with ≥1 close social connection who vape were more likely than those with none to vape themselves (29.6% vs. 6.3%; ORadj=5.16[3.15-8.43]) and to use e-cigarettes in their most recent attempt to quit (57.0% vs. 27.9%; ORadj=18.0[1.80-181]), and had an uncertain higher likelihood to perceive e-cigarettes as less harmful than cigarettes (30.8% vs. 12.2%; ORadj=2.37[0.82-6.90]). In England, we replicated well-established associations with smoking and found similar evidence for vaping. People were much more likely to vape and to use e-cigarettes to quit smoking if they had close social connections who vaped. The cross-sectional design means it is not clear whether smoking/vaping among close social connections influences people to smoke/vape themselves, or whether people who smoke/vape select to form close social connections with others who similarly smoke/vape. Further research is required to establish causality. If the associations we observed are causal, interventions that encourage smokers to switch to vaping may have positive spillover effects on social connections' perceptions of e-cigarettes and use of these products to support smoking cessation.

Impact of Natural Gas Peak Shaving on High-Quality Economic Development

As energy demand continues to grow, the enhancement of natural gas storage and peaking capacity has become an important measure to ensure national energy security and to achieve the goals of carbon peaking and carbon neutrality. Gas storage and peaking have mature development models in the international arena, and China is making every effort to develop this system. This study reveals the impact and promotion of natural gas storage and peaking technology on high-quality economic growth in different regional economic environments through sample data from 30 provinces in China, from 2006 to 2022. The results show that natural gas storage and peaking directly promote high-quality economic development and have a positive spatial spillover effect on high-quality development in neighboring regions, a finding verified by the robustness test and endogeneity test. A heterogeneity analysis further revealed that there are significant differences among eastern, central, and western regions in terms of natural gas storage and peaking capacity and quality of economic development. The eastern region has a stronger gas storage and peaking capacity, while the central and western regions have a weaker capacity. Mechanism analysis shows that R and D technology (RDT) efficiency and green finance have a positive moderating effect on the benchmark effect. This has significant implications for policymakers and business leaders, suggesting that peak gas storage and peaking can drive improvements in broader regional corporate sustainability practices and increase regional levels of high-quality development.

Impact of Big Data on Carbon Emissions: Empirical Evidence from China’s National Big Data Comprehensive Pilot Zone

Big data is a pivotal factor in propelling the digital economy forward and emerges as a novel driver in realizing the goals of carbon peaking and carbon neutrality. This study focuses on a quasi-natural experiment, namely national big data comprehensive pilot zones (NBD-CPZs), and employs a multi-period difference-in-differences (DID) model to identify the influence of big data on carbon emissions. The findings of this study are as follows. Overall, big data significantly reduces carbon emissions within the pilot zones. Mechanism analysis shows that big data reduces urban carbon emissions by promoting green innovation, optimizing energy structure, mitigating capital mismatch and improving public awareness of environmental protection. Heterogeneity analysis shows that the carbon reduction effect of big data are more pronounced in cities with high levels of digital economy, non-resource-based cities, cities with strong intellectual property rights protection and the Guizhou Province. Spatial effect analysis indicates that within a radius of 400–500 km, the NBD-CPZ increases urban carbon emissions, signifying a significant siphoning effect; within a radius of 500–900 km, the NBD-CPZ reduces urban carbon emissions, signifying a significant spillover effect, and beyond a distance of 900 km, the spatial effect of the NBD-CPZ is not significant. Based on the above conclusions, this study puts forward several policy recommendations to effectively exert the carbon emission reduction effect of big data.

Integrated sustainability perspective and spillover effects of social, environment and economic pillars: A case study using SEY model

This study examines the integrated sustainability perspective by mapping the spillover effects among sustainable development pillars including social, environment, and economy. To this end, it estimates the sustainability elasticities between a developing country, Iran, and six global regions including 1- North America, 2- Latin America and Caribbean, 3- European Union, 4- Sub-Saharan Africa, 5- Middle East and North Africa (MENA) and 6- East Asia and Pacific. This estimation uses the SEY model, an econometric package involving simultaneous equations systems, Vector Autoregressive models (VAR), and Granger causality within 1971–2019. This research differs from the previous studies by exploring the sustainability spillovers not only spatially but also across various pillars of sustainable development. The results show that the pillars of sustainable development have significant and positive elasticities. This finding accepts the integrated sustainability perspective since the pillars of sustainable development indicate considerable and synergistic effects from both spatial and contextual outlooks. In this way, the findings support globalization, openness, and flow-based governance, consistent with Sustainable Development Goals (SDGs) 16 (Peace, justice and strong institutions) and 17 (Partnerships for the goals). Therefore, policymakers should strengthen the globalization and openness by establishing and promoting international agreements, global organizations, and inclusive frameworks not only in trade, finance, and economy but also in cultural, social, and political affairs.

Unraveling the effect of electricity price on electric vehicle charging behavior: A case study in Shenzhen, China

Estimating price elasticity of demand for electric vehicle charging contributes to the accurate determination of charging price, thereby improving electric vehicle adoption and energy sustainability. However, few studies have studied the impact of electricity price on electric vehicle charging behavior, especially the demand spillover effect caused by price fluctuations. To fill the gaps, on a citywide dataset of public charging piles in Shenzhen, China, first, correlation coefficients and hypothesis tests are used to determine the relationship between charging demand and price. A learning model incorporating two-layer graph attention, temporal pattern attention, and knowledge-embedded meta-learning is developed for accurate spatio-temporal regression. Impulse response analysis is conducted to unravel several noteworthy phenomena: (1) public charging demand is inelastic to electricity price, with an average elasticity of −0.76, and distinction between different functional areas and times is revealed; (2) negative price impulses marginally change the elasticity, while positive ones make electric vehicle charging users more price sensitive, and (3) the spillover effects caused by price increases and decreases bring 89.48% and 53.88% of its local demand changes to neighbors, respectively, with a scope of 3.45 kilometer. These findings provide policy implications for promoting electric vehicle charging to facilitate renewable energy transition.

Fully protected marine areas linked to reduced home ranges of fishes

AbstractHome range size is a fundamental trait that can affect the probability of fish being harvested and, at the same time, may be affected by fishing. The relationship between home range size and fishing will impact the effectiveness of fully protected areas (FPAs), as it will influence the number of fish moving into fished areas, affecting both spillover and edge effects. One hypothesis is that individuals within FPAs will present reduced home range size relative to individuals in fished areas. This pattern can be driven by demographic selection (e.g. fishing of individuals with large home ranges leaving the FPAs), improved habitat requiring less foraging movements, or behavioural changes associated with reduced fishing threats. To test the relationship between home range size and protection, we compiled 1143 individual‐level home range sizes based on acoustic tracking, covering 17 species from 11 FPAs in 7 countries, with information on distance from FPA borders. A dichotomic analysis (in/out of FPAs) did not support a significant change in the home range size between FPAs and fished areas. However, continuous analysis across the FPA borders demonstrated reduced home range size within the FPAs. We did not find an effect of FPA age or size on this pattern. While we cannot pinpoint the underlying mechanism for the pattern revealed, we suggest behavioural changes as the main driver for reduced home range within FPAs. This mechanism will lead to more resident populations within FPAs, reducing fishing mortality within FPAs yet limiting spillover benefits to adjacent fisheries.

Does high-speed rail construction reduce air pollution? Evidence from prefecture-level cities in China

Based on data from 282 cities in China, this study assesses the impact of high-speed rail (HSR) construction on air pollution with a difference-in-difference (DID) method and a quasi-natural experiment of HSR construction. The results indicate HSR construction reduces air pollution, specifically, PM2.5 concentrations in HSR cities decreased by 2.91 %. Moreover, heterogeneity exists in the influence of HSR on air pollution of different types of cities. Considering cities of different administration levels, HSR construction significantly reduces air pollution in peripheral cities, while the pollution reduction in core cities is not obvious. Considering cities with different population sizes, the HSR construction suppresses air pollution in small cities and big cities, while this suppressive effect in small cities is more obvious. The mechanism analysis confirms HSR construction reduces PM2.5 by three ways: substituting civil aviation, adjusting industrial structure, and enhancing innovation foundation. Meanwhile, a spatial spillover effect exists in HSR's effect on air pollution: HSR construction reduces air pollution in local cities, while also promoting air quality in neighboring cities due to the spatial correlation between cities.

How Does Digital Finance Contribute to Sustainable Wealth Growth: Perspective from Residents’ Income

Sustainable growth relies on common prosperity, which is reflected in increasing total income and equitable income distribution. This study first proposes the theoretical mechanisms by which digital financial development affects residents’ total income and income distribution. After that, a two-stage generalized method of moments estimation model with endogeneity treatment is constructed to investigate the impact of digital finance on residents’ total income in 31 Chinese provinces. Moreover, Moran’s I and a spatial autoregression model are used to explore the impact of digital finance on residents’ income distribution. The results demonstrate that digital financial development can significantly contribute to the increase in residents’ total income in both urban and rural areas, thus contributing to regional sustainable wealth growth. In addition, digital finance has a spatial direct effect and a spatial spillover effect on the optimization of residents’ income distribution. This indicates that a region’s digital financial development benefits regional sustainable wealth growth, as it not only can improve residents’ income distribution within the same region but also can promote the income distribution of neighboring regions.

Industry clusters and macroeconomic (in)stability

Abstract While the competitive behavior of firms with regard to entry and exit activities serves as a driving force behind the business cycle, little attention has been paid to the issue of industry clusters when discussing belief-driven cyclical fluctuations. Faced with this deficiency, this study analyzes the possibility of the emergence of equilibrium indeterminacy from the perspective of industrial organization. By analyzing the effects of endogenous overhead costs in the market, this paper finds that belief-driven business cycle fluctuations are related to industry clusters. More specifically, a stronger spillover effect or a less pronounced congestion effect tends to increase the likelihood of local indeterminacy.

Sustainability indices nexus: Green economy, ESG, environment and clean energy

In this article, we examine the spillover effects and connectedness among four prominent sustainability-related indices. We analyze daily data spanning from August 8, 2014, to April 12, 2023, to explore the interrelationships among the Green Economy Index, the World Environmental, Social, and Governance Index, the Global Environment Index and the Global Clean Energy Index. Particularly, we observe a clustering characteristic where both the Green Economy Index and the World Environmental, Social, and Governance Index exhibit a net-contributing behavior, especially during and after the COVID-19 outbreak. Global Environment Index, on the other hand, exhibits a net-receiving role, which became strong during the COVID-19 outbreak. Further, the Global Clean Energy Index demonstrates a neutral role, although it shows a net-receiving trend after the year 2022. Finally, dynamic analysis confirms the evolving nature of these interconnectedness measures, highlighting their sensitivity to events and shifting economic conditions over time.