This paper investigates the optimal quota/tariff polices for China and India, two of the biggest developing countries who are facing the threat of possible oil supply disruptions, with taking into…

Payments for environmental services (PES) programmes have been widely promoted over the last few decades in many developing countries. Improving the livelihoods of environmental services (ES)…

Does public transportation reduce vehicle congestion? Using a regression-discontinuity framework, we examine the effect of six subway openings on short-run congestion in Beijing between 2009 and 2015…

Recent academic endeavours have questioned whether the rapidly unfolding Payments for Environmental Services (PES) may have profound influence on land tenure which would in turn impact the…

The recent Collective Forest Tenure Reform in China has started the process of devolving forest management rights from village collectives to households since 2003. In this paper, we study the impact…

The Gram-Charlier Expansion (GCE) of the Gaussian density under GARCH framework has been widely used to model the conditional dynamic higher moments. Compared with other generalized distributions…

We propose a closed-form pricing formula for the Chicago Board Options Exchange Volatility Index (CBOE VIX) futures based on the classic discrete-time Heston–Nandi GARCH model. The parameters are…

In 2014, China became the world’s third country to realize shale gas commercial development, following the United States and Canada. So far, there has been a lack of comprehensive discussion on risk…

Measuring inequality can be challenging due to the limitations of using household income or expenditure data. Because actual energy consumption can be measured more easily and accurately and is…

This study reviewed the forestry policy evolution in China as of the reform and opening-up, and concluded the three basic evolution tendencies in the forestry policies, i.e., 1) The Pareto improvement…