This study examines whether macroeconomic variables, such as household disposableincome, financial assets and total debt affect household consumption by applying Panel dataon The fixed effects model. The data included 13 European OECD countries that are membersof EMU between the years 2009-2019. The test showed that disposable income is the onlyvariable with statistically significant effect on household consumption. The life cyclehypothesis as well as The permanent income hypothesis, states that individuals strive forsmooth consumption by distributing their resources relatively evenly. That way they are ableto maintain a certain standard of living. According to The Ricardian equivalence theorem,neither changes in saving nor indebtedness increase private consumption, if the initial wealthremains unchanged. These theories are included in the theoretical reference which, togetherwith previous studies, constitutes the starting point for this paper.

本論文的研究主題，在於探討中國大陸自鄧小平南巡後，尤其自一九九五年之後，所呈現的城鄉居民收入差距再度經歷的「縮小－擴大」之現象，其形成的背景，現況，以及造成的因素等等，是否對於中國大陸未來的經濟發展產生重大影響？另外，大陸各區域之間城鄉居民收入差距的變遷情況，以及形成的因素為何？均是本文所要研究的重點。 在研究方法的選擇上，本文運用「文獻分析法」以及「實證分析法」，首先對於國內外有關於研究大陸城鄉居民收入差距的相關文獻進行整理與分析，比較其重點與異同，並針對不足之處加以延伸及補充。接著運用中國統計年鑑等中國官方所提供的大陸29個地區的統計數據資料，以一九九五年至二００一年作為主要的研究的時期，由於研究的資料是為追蹤資料，在經過Lagrange Multiplier（LM）Test 檢驗後，發現運用「固定效果模型」，將較傳統的OLS模型更為合適。因此以固定效果模型，對影響大陸城鄉居民收入差距的因素進行實證分析。 本研究的主要發現為，隨著時間的遞移，大陸城鄉居民收入差距是呈現擴大的趨勢。而對於大陸整體地區而言，長期以來導致大陸城鄉分隔的二元經濟結構因素，以及政策面的因素，諸如財政支援農業發展的比重，以及一胎化政策實行之後，城鄉家庭在人口負擔上所造成的差異等等，均會對大陸整體地區城鄉居民收入差距產生影響。 此外，本文針對中國大陸東、中、西部所呈現的不同特質，分別研究其各自影響城鄉居民收入差距的因素，並比較其間的差異。結果發現，城鄉從業人員在工資上的差距，將會擴大中部地區城鄉居民收入差距；而大陸近年致力推動的吸引外資政策，也對平衡東部及中部地區城鄉居民收入差距具有顯著效果。另外，國有部門比重增加將會加大西部地區城鄉居民收入差距，但鄉鎮企業比重的增加，除了加大中部地區城鄉居民收入差距以外，對於大陸整體地區，以及東、西部地區的影響並不確定。 最後，本文依據上述的研究結果提出政策建議。本文認為，現階段大陸城鄉居民收入差距的擴大，除了時間趨勢的影響之外，也受到其他諸多因素的影響。是以就長期而言，中國在平衡城鄉居民收入差距的各項政策執行上，要獲致效果，仍須致力克服結構面、經濟發展面、以及政策面因素的影響，並適時對執行政策作修正與調整。因此，未來中國在政策的選擇上，除了重視農業發展，加速產業結構調整，保持工業及農業的平衡之外，消除二元結構所造成的城鄉分隔，促進城鄉經濟協調發展，將對於平衡大陸城鄉居民收入差距具有最大的正面助益。 / This thesis aims to investigate the changes in mainland China’s regional urban-rural income differential and its determinants during the period of 1995 to 2001. After we estimate the fixed-effects model of the urban-rural income differential equation, the empirical results show an upward trend in the differential that is different from data observation. In addition, it is found that the change in mainland China’s regional urban-rural income differential is primarily affected by dual-system of the economic structure, as well as the policy factor such as the government expenditure for supporting agriculture production and the change in average size of family households after the one-child policy has been taken in practice. Although the different between the wages of urban-rural employed persons has been proved to be an important determinant in many previous studies in the literature, this conclusion can be supported only in the central part of mainland China during the refereed period in this study. Beside, instead of taking contribution to the mitigation of China’s regional urban-rural income differential, the increasing of the proportion on Township and Village Enterprises has been proved to intensify the urban-rural income differential on the central part of China. Finally, according to this study, the best way to mitigate the China’s regional urban-rural income differential is to allocate more resources to modify the industrial structure, placing important on both agriculture and industry. What is more, to terminate the dual-system of the economic structure factor, and to balance the development of cities and countries of China, will also contribute to the mitigation of the China’s regional urban-rural income differential.

Thesis (M. Com. (Economics)) -- University of Limpopo, 2021 / The main aim of the study is to analyze determinants of sovereign credit ratings (SCRs) for Southern African Development Community (SADC) countries, namely Angola, Botswana, Mozambique, South Africa and Zambia. The analysis is based on the SCRs given by Standard and Poor’s (S&P). The selected explanatory variables are gross domestic product (GDP) per capita, inflation, external debt, foreign direct investment (FDI) inflows and control of corruption for the period 1990-2016, based on annual data. The panel root test results, namely IPS, LLC, ADF Fisher and PP Fisher, show that GDP per capita, external debt and FDI are stationary at 5% level of significance. The Hausman test results indicates that the identified explanatory variable explains 80% of SCRs. The model observed a positive relationship between SCR, inflation and control of corruption. It also observed a negative correlation between SCR, GDP per capita, external debt and FDI. The Pedroni residual cointegration test results indicate that there is no long-run relationship among variables and no autocorrelation as shown by serial correlation LM test results. The study recommends that the selected member states of SADC develop strategic plans for reducing budget deficits. This will help countries to manage their debts, especially foreign currency denoted debt and to attract foreign investment. Keywords: Sovereign credit ratings, fixed effects model, random effects, Hausman test.

This thesis consists of an introductory part and two self-contained chapters related to the supply of volunteers to the Swedish Armed Forces. Chapter [I] represents the first effort to explore the relationship between civilian labour market conditions and the supply of labour to the military in the all-volunteer environment that Sweden entered after the abolishment of the peacetime draft in 2010. The effect of civilian unemployment on the rate of applications from individuals aged 18 to 25 to initiate basic military training is investigated using panel data on Swedish counties for the years 2011 through 2015. A linear fixed-effects model is estimated to investigate the relationship, while controlling for a range of socio-demographic covariates and unobserved heterogeneity on the regional level, as well as aggregate trends on the national level. The results indicate a positive and statistically significant relationship between the unemployment rate and the application rate. The results are robust to non-linear form specifications, as well as allowing the civilian unemployment rate to be endogenous. As such, the results suggest that the civilian labour market environment in Sweden can give rise to non-trivial fluctuations in the supply of applications to initiate basic military training within the Swedish Armed Forces. Chapter [II] studies how local labour market conditions influence the quality composition of those who volunteer for military service in Sweden. A fixed-effects regression model is estimated on a panel data set containing IQ scores for those who applied for military basic training across Swedish municipalities during the period 2010 to 2016. The main finding is that low civilian employment rates at the local level tend to increase the mean IQ score of those who volunteer for military service, whereas the opposite is true if employment rates in the civilian labour market move in a more favourable direction. As such, the results suggest that the negative impact of a strong civilian economy on recruitment volumes is reinforced by a deterioration in recruit quality.

Policymakers' action of mitigating and slowing down the continued increase of carbon emission is a significant global priority. One way to internalise the negative externality of pollution is to put a price on greenhouse gases and use the market-based approach of emission trading systems. On the other hand, according to economic reasoning, pollution is an essential tool for economic development. This paper aims to investigate the economic effects of introducing the first international emission trading system of greenhouse gases, the EU emission trading system, by observing the economic growth and gross fixed capital formation. Mankiw, Romer, and Wiel's (1992) theory is utilised in this study and based on cross-country and cross-state panel data between 1999-2012, an empirical analysis using the fixed effects model was followed. The finding shows that the EU emission trading system has a negative effect on the growth of real gross domestic product per capita compared to states and countries not participating in an emission trading system. In addition, the first phase results having a positive effect and the second phase has a negative effect on the economic growth compared to states and countries not participating in an emission trading system. There is no statistical evidence of the effect on gross fixed capital formation as a percentage share of GDP. Organisations can use the findings to decide whether developing countries can afford the consequence of an implemented emission trading system since it tends to slow down growth. However, further research needs to consider the effect of the financial crisis of 2008 and the interpretation of the EU emission trading scheme.

本文採雙因子固定效果模型(Two-Factor Fixed-Effects Model)，利用中 華人民共和國國家統計局1998 年至2007 年資料，排除台港澳等旅客，研 究中國大陸各省市地區國外入境遊客人次，探討影響各地區入境遊客人次 之決定因素，以及其影響程度。實證模型採用之解釋變數分別為各地區交 通便利性、星級飯店旅館數、人均可支配所得、外資投入總額、製造業比 重、人均醫療機構數、園林與綠地面積、鄰近地區旅遊到訪人數、前兩年 旅遊到訪人數、人均貿易額、平均降水量、降水量變異數以及各地區特質 效果以及時間效果。而被解釋變數為中國大陸各省市地區接待國外入境遊 客人次，經由迴歸分析發現影響中國大陸各地區吸引外國遊客之決定因素 有、星級飯店旅館數、外資投入總額、人均醫療機構數、園林與綠地面積、 前兩年旅遊到訪人數、人均貿易額、平均降水量。並分析中國大陸各地區 之旅遊觀光產業之發展方向，最後則是對觀光產業發展進行政策建議。 / This article is aimed at the factors why visitors visit those regions in mainland China. This study will firstly review literatures about the demand of tourism. By viewing all the discussions, we tried to find out the most likely factors, and the two-factor fixed-effects model was used to analyze these various factors. Data for this analysis was provided by the National Bureau of Statistics People's Republic of China from 1998 to 2007. Several likely factors were taken into consideration as independent variables: the convenience of local traffic, the number of hotels, per capita disposable income, the total amount of foreign investment, the manufacturing sector, the per capita number of medical institutions, gardens and green area, the number of tourist visits around, The number of tourist visiting the first two years, the per capita volume of trade, the average rainfall, rainfall variation and the characteristics effects, and time effects. We used the numbers of foreign visitors of each region of China as dependent variables. The results showed that the factors which would significantly attract foreign tourists were the number of hotels, the total amount of foreign investment, per capita number of medical institutions, gardens and green area, the first two years the number of visiting tourists, the per capita volume of trade, and the average rainfall.

目前超低生育率現象，已對整體社會的走向、國家經濟的發展、生活思維的方式等都產生了相當大的影響。換言之，生育不僅是婦女本身的問題，它與國際社會的動態、經濟的全球化、企業的國際化、現代的子女教育、社會的性別教育、老年人的護理等都有著相當緊密的關係。因此，本研究的主要目的，在於探討臺灣各縣市房地產價格對生育率的影響，並瞭解臺灣生育率持續下降的癥結所在，找出可能影響生育率下降的主要因素加以分析。 本文利用臺灣23個縣市別的追蹤資料，涵蓋期間為2000年至2008年，採雙因子固定效果模型進行實證分析。估計結果發現，在控制其他變數不變之下，在生育率遞延二期時，臺灣各縣市平均地價對生育率為負影響，且在生育率遞延三期時更為顯著，兩者之間的資源排擠效果更為強大。而其他影響臺灣生育率的主要因素，如：各縣市農業人口比例、各縣市粗結婚率、與外國人結婚人數比例皆呈顯著正影響；臺灣各縣市平均地價、原住民人數比例及婦女勞動參與率皆呈顯著負影響。 依本研究結果顯示，房地產價格是影響臺灣生育率相當重要的因素，政府應需高度正視此問題並有所作為。建議未來政府在訂定國家發展政策時，除需研擬更多提升生育率的策略，如：降低父母生育子女的機會成本、改善學前幼托體系，以及加強減輕家庭育兒壓力的宣導工作等，並可增加控制「臺灣房地產價格」及避免房價炒作之策略，以促進國家永續發展及增強國際競爭力。 / The current low fertility rate has been a great impact on our entire social trend, the development of national economy, and the way we think. That is, fertility is not only women’s consideration, but also an issue connected closely to international society, economical globalization, internationalization of business, children education, sex education, and nursing care of the elders. As a result, the main purpose of this paper lies on the effect of average land price on fertility rate in Taiwan. This article uses the panel data of the 23 counties and cities of Taiwan from 2000 to 2008, and does the evidence-based analysis by two-factor fixed-effects model. We found that the average land price has conspicuously positive effect on the fertility rate in Taiwan. While other main factors affect the fertility rate in Taiwan such as the proportion of farm-workers, crude marriage rate, and the proportion of marriage with the foreigners have conspicuously positive effects on it; on the other hand, female labor force participation and the proportion of aborigine have conspicuously negative effects on it. According to our study, average land price is the most important factor which affects the fertility rate in Taiwan, and the government should face the problem and do something to it. When making policy, it is suggested the government may take into consideration of how to control the housing price in Taiwan and avoid housing price speculation.

1994年財政分權以後，中國大陸城鄉收入差距經歷了一段縮小又擴大的變化，許多學者開始將研究焦點放在財政分權對於城鄉收入差距的影響層面。為了瞭解財政分權對於城鄉收入差距到底造成何種影響，本研究目的有以下三點：一、為探討財政分權對於城鄉收入差距是否造成影響，二、為瞭解制度因素、地方政府財政支出對於城鄉收入差距是否造成影響，三、有鑑於財政上絕對財政中央集權與財政地方分權可能是造成城鄉收入差距擴大的兩個極端，不同於過去的相關研究，本研究認為財政分權與城鄉收入差距間，可能存在非線性的關係，因此在本研究中變數中加入財政分權平方項，對於這樣的假設進行檢測。 本研究針對中國大陸1995至2008年29個省市地區資料，以雙因子固定效果模型進行研究。根據實證結果顯示，在財政自主分權指標對於城鄉收入差距的影響層面，在財政自主小於臨界水準時，隨著財政自主逐漸提高，將會縮小城鄉收入差距；但其負向效果將隨著財政自主提高後逐漸減弱，到達某個臨界水準後，財政自主對於城鄉收入差距的影響將由負轉正。意即中國大陸地方政府財政自主分權指標與城鄉收入差距間呈現非線性的關係，而是呈現類似正U型的曲線。在其他影響城鄉收入差距的變數方面上，本研究發現二元經濟結構係數、財政支出分權指標對於城鄉收入差距有正向的影響，而科技技術財政支出對於城鄉收入差距有負向的影響。透過本研究之結果，可以解釋財政分權對於城鄉收入差距影響結論不一致的說法，進而瞭解縮小地區性城鄉收入差距的最適財政分權程度。 / This purpose of this study is to investigate the changes in mainland China’s regional urban-rural income differential and its determinants during the period of 1995 to 2008. This study uses provincial-level data to analyze whether or not fiscal decentralization provides a positive effect for urban-rural income differential.In order to examine the role of fiscal decentralization in China's regional urban-rural income differential, this study establishes two empirical models with the square term of fiscal decentralization as an independent variable. After we estimate the two-way fixed-effects model of the urban-rural income differential equation, the empirical result shows the financial autonomy of local governments in China and regional urban-rural income differential relationship is nonlinear, but the show is U-shaped curve.

近年來，全球氣候變遷問題已嚴重影響人類生活，而世界各國也逐漸意識到已開發國家和開發中國家必須共同合作以解決此問題。京都議定書中的清潔發展機制 (CDM) 即是讓已開發國家與開發中國家共同實踐減量目標的一種彈性減量機制，然而過去文獻對於其減排成效的看法並不一致。有鑒於此，本文以參與CDM計畫的20個開發中國家和16個已開發國家為研究對象，探討CDM計畫對其2003至2008年二氧化碳減量之影響。根據兩階段最小平方法之固定效果模型的實證結果顯示，CDM計畫能減少開發中國家的二氧化碳排放量，但經認證的排放減量額度 (CERs) 有被過量核發之現象；另一方面，CDM計畫對已開發國家的減排效果則無影響。 / In recent years, global climate change problem has affected humans’ life badly. Therefore, it is gradually realized that the developed countries and developing countries have to cooperate to solve the problem. Clean Development Mechanism (CDM) is one of the flexibility mechanisms defined in the Kyoto Protocol, and it allows the developed countries, in cooperation with developing countries, to fulfill the emission-reduction targets. However, the emissions abatement effects of CDM in the literatures are diverse. Accordingly, this paper uses 20 developed countries and 16 developing countries as an empirical case to examine the impact of CDM on carbon dioxide emissions abatement from 2003 to 2008. According to fixed effects two-stage least squares, CDM projects reduced the carbon dioxide emissions of developing countries, but the certified emissions reductions (CERs) were excessively issued. On the other hand, CDM projects didn’t have an impact of emissions abatement on developed countries.

近年來，隨著中國大陸經濟快速的成長，中國大陸房地產市場也隨之蓬勃發展，然而，近期中國大陸房地產價格的節節高漲，產生了房地產過熱的警訊，而區域間房地產價格的差異與不均，也成為各地區經濟發展的重要阻礙。所以，如何合理的調控房地產價格，使房地產市場能穩定成長並與經濟發展相輔相成，成為中國大陸中央政府必須持續關注與適時妥善處理的問題。 本文運用1999年至2010年中國大陸31個省市地區商品房平均銷售價格和影響房價的經濟相關變數的追蹤資料，運用雙因子固定效果模型進行實證研究。研究結果發現：中國大陸各地區財政分權程度對各地區房地產價格為非線性的關係，呈現U型的曲線。意即，存在一個財政分權的臨界值可以使房價達到最小的情況。建議中央政府應透過調整各地區的財政分權程度，來避免因財政分權不均而產生財政資源不均問題，造成房地產價格的波動。並加強對地方政府的財政預算與財政收入的監督與管制，以抑止「土地財政」的行為。 / With the economic growth, the real estate market is booming in China recently. But the overheating real estate price and the difference of real estate price between region and region become the important impediment to regional economic development in China. Therefore, the central government how to control the real estate price is an immense problem. By using the panel data of average selling price of commercialize buildings and the economic variables of 31cities in China between 1999 and 2010, the study uses two-way fixed effects model to investigate the effect of fiscal decentralization on the real estate price in China. The empirical analysis’ result shows that the fiscal decentralization provides a non-linear effect on the real estate price, it presents the U-shaped curve. In other words, there are a degree of fiscal decentralization can make the real estate price to reach the minimum. According to results, we propose to take some policies. The central government should adjust the degree of fiscal decentralization in each region, in order to avoid the local government financial problem to lead to rise the real estate price.