Although China＇s asymmetric fiscal decentralization system has been criticized for many years, there have been few studies giving direct evidence of its negative incentives on local government spending policies. By i...Although China＇s asymmetric fiscal decentralization system has been criticized for many years, there have been few studies giving direct evidence of its negative incentives on local government spending policies. By introducing the mechanism of asymmetric decentralization and fiscal transfers to the objective function of local government, this paper studies the incentive effects of asymmetric decentralization and fiscal transfers on spending policies of local governments, and uses the provincial panel data to carry out an empirical test. The conclusion shows that the asymmetric decentralization significantly weakens the incentives of local government to increase social expenditure, and as a solution to asymmetric decentralization, fiscal transfers fail to play a good role. Due to the relatively large income effect, the financing mechanism of fiscal transfers not only significantly reduces the incentives of local government to provide social public goods, but also weakens the constraint effect of fiscal competition on expenditure policies of local governments because of the increase in the relative cost. Although the distribution mechanism of fiscal transfers has a significant positive incentive to local government in regions where the net inflow of fiscal resources is more than zero, because of common pooling effects, the comprehensive effects of fiscal transfers in the distribution of incentives of local governments to provide social public goods are negative in all regions.展开更多
This paper proposes a blockchain-based system as a secure, efficient, and cost-effective alternative to SWIFT for cross-border remittances. The current SWIFT system faces challenges, including slow settlement times, h...This paper proposes a blockchain-based system as a secure, efficient, and cost-effective alternative to SWIFT for cross-border remittances. The current SWIFT system faces challenges, including slow settlement times, high transaction costs, and vulnerability to fraud. Leveraging blockchain technology’s decentralized, transparent, and immutable nature, the proposed system aims to address these limitations. Key features include modular architecture, implementation of microservices, and advanced cryptographic protocols. The system incorporates Proof of Stake consensus with BLS signatures, smart contract execution with dynamic pricing, and a decentralized oracle network for currency conversion. A sophisticated risk-based authentication system utilizes Bayesian networks and machine learning for enhanced security. Mathematical models are presented for critical components, including transaction validation, currency conversion, and regulatory compliance. Simulations demonstrate potential improvements in transaction speed and costs. However, challenges such as regulatory hurdles, user adoption, scalability, and integration with legacy systems must be addressed. The paper provides a comparative analysis between the proposed blockchain system and SWIFT, highlighting advantages in transaction speed, costs, and security. Mitigation strategies are proposed for key challenges. Recommendations are made for further research into scaling solutions, regulatory frameworks, and user-centric designs. The adoption of blockchain-based remittances could significantly impact the financial sector, potentially disrupting traditional models and promoting financial inclusion in underserved markets. However, successful implementation will require collaboration between blockchain innovators, financial institutions, and regulators to create an enabling environment for this transformative system.展开更多
A wave power device includes an energy harvesting system and a power take-off system. The power take-off system of a floating wave energy device is the key that converts wave energy into other forms. A set of hydrauli...A wave power device includes an energy harvesting system and a power take-off system. The power take-off system of a floating wave energy device is the key that converts wave energy into other forms. A set of hydraulic power take-off system, which suits for the floating wave energy devices, includes hydraulic system and power generation system. The hydraulic control system uses a special“self-hydraulic control system”to control hydraulic system to release or save energy under the maximum and the minimum pressures. The maximum pressure is enhanced to 23 MPa, the minimum to 9 MPa. Quite a few experiments show that the recent hydraulic system is evidently improved in efficiency and reliability than our previous one, that is expected to be great significant in the research and development of our prototype about wave energy conversion.展开更多
Optimization of low-thrust trajectories that involve a larger number of orbit revolutions is considered as a challenging problem.This paper describes a high-precision symplectic method and optimization techniques to s...Optimization of low-thrust trajectories that involve a larger number of orbit revolutions is considered as a challenging problem.This paper describes a high-precision symplectic method and optimization techniques to solve the minimum-energy low-thrust multi-revolution orbit transfer problem. First, the optimal orbit transfer problem is posed as a constrained nonlinear optimal control problem. Then, the constrained nonlinear optimal control problem is converted into an equivalent linear quadratic form near a reference solution. The reference solution is updated iteratively by solving a sequence of linear-quadratic optimal control sub-problems, until convergence. Each sub-problem is solved via a symplectic method in discrete form. To facilitate the convergence of the algorithm, the spacecraft dynamics are expressed via modified equinoctial elements. Interpolating the non-singular equinoctial orbital elements and the spacecraft mass between the initial point and end point is proven beneficial to accelerate the convergence process. Numerical examples reveal that the proposed method displays high accuracy and efficiency.展开更多
This paper reconsiders the roles of China and some developed countries in the network of carbon emission transfers via international trade in value added from a new perspective of network governance.Network search int...This paper reconsiders the roles of China and some developed countries in the network of carbon emission transfers via international trade in value added from a new perspective of network governance.Network search intensity(NSI)and the extended gravity model are used with cross-country panel data to analyze the mechanism of China's engagement in network governance of carbon emission transfers.The results show that from 2000 to 2009,China was a net exporter of carbon emissions,even though it shifted from the semi-periphery to the core in the network of carbon emissions embodied in imports.Meanwhile,NSI had a significant positive impact on carbon emissions embodied in exports.Given China's important role in the global production network and division of labor,NSI may also affect industrial structure and the quality of the ecological environment to a large extent.This study analyses the network governance mechanism of China's participation in global carbon transfers.The results suggest that the technical complexity of export products and product heterogeneity do not change the positive impact of NSI on carbon emissions.展开更多
In the past few decades, economic globalization has driven rapid growth of cross-border trade and a new international division of labor, leading to increasing inter-country embodied carbon flows. Multi-region input-ou...In the past few decades, economic globalization has driven rapid growth of cross-border trade and a new international division of labor, leading to increasing inter-country embodied carbon flows. Multi-region input-output(MRIO) analysis is used to identify embodied carbon flows between major world regions, including seven regions along the Belt and Road(BR), and the spatial distribution of production-and consumption-based carbon intensities. The results show that current embodied carbon flows are virtually all from BR regions to developed countries, with more than 95% of world net embodied carbon exports coming from BR regions. Consumption in the United States and European Union countries induce about 30% of the carbon emissions in most BR regions, indicating that the former bear a high proportion of consumers' responsibility for the carbon emitted in the latter. For this reason, measuring environmental responsibilities from consumption rather than a production-based perspective is more equitable, while developing countries should be given a louder voice in the construction through dialogue and cooperation, in part in the context of the Belt and Road Initiative, of an inclusive global climate governance system.展开更多
文摘Although China＇s asymmetric fiscal decentralization system has been criticized for many years, there have been few studies giving direct evidence of its negative incentives on local government spending policies. By introducing the mechanism of asymmetric decentralization and fiscal transfers to the objective function of local government, this paper studies the incentive effects of asymmetric decentralization and fiscal transfers on spending policies of local governments, and uses the provincial panel data to carry out an empirical test. The conclusion shows that the asymmetric decentralization significantly weakens the incentives of local government to increase social expenditure, and as a solution to asymmetric decentralization, fiscal transfers fail to play a good role. Due to the relatively large income effect, the financing mechanism of fiscal transfers not only significantly reduces the incentives of local government to provide social public goods, but also weakens the constraint effect of fiscal competition on expenditure policies of local governments because of the increase in the relative cost. Although the distribution mechanism of fiscal transfers has a significant positive incentive to local government in regions where the net inflow of fiscal resources is more than zero, because of common pooling effects, the comprehensive effects of fiscal transfers in the distribution of incentives of local governments to provide social public goods are negative in all regions.
基金国家自然科学基金(the National Natural Science Foundation of China under Grant No.60673046No.60673066)辽宁省自然科学基金(the Natural Science Foundation of Liaoning Province of China under Grant No.20051082)
文摘This paper proposes a blockchain-based system as a secure, efficient, and cost-effective alternative to SWIFT for cross-border remittances. The current SWIFT system faces challenges, including slow settlement times, high transaction costs, and vulnerability to fraud. Leveraging blockchain technology’s decentralized, transparent, and immutable nature, the proposed system aims to address these limitations. Key features include modular architecture, implementation of microservices, and advanced cryptographic protocols. The system incorporates Proof of Stake consensus with BLS signatures, smart contract execution with dynamic pricing, and a decentralized oracle network for currency conversion. A sophisticated risk-based authentication system utilizes Bayesian networks and machine learning for enhanced security. Mathematical models are presented for critical components, including transaction validation, currency conversion, and regulatory compliance. Simulations demonstrate potential improvements in transaction speed and costs. However, challenges such as regulatory hurdles, user adoption, scalability, and integration with legacy systems must be addressed. The paper provides a comparative analysis between the proposed blockchain system and SWIFT, highlighting advantages in transaction speed, costs, and security. Mitigation strategies are proposed for key challenges. Recommendations are made for further research into scaling solutions, regulatory frameworks, and user-centric designs. The adoption of blockchain-based remittances could significantly impact the financial sector, potentially disrupting traditional models and promoting financial inclusion in underserved markets. However, successful implementation will require collaboration between blockchain innovators, financial institutions, and regulators to create an enabling environment for this transformative system.
基金supported by Marine Renewable Energy Funds Projects(Grant Nos.GHME2010GC01 and GHME2011BL06)
文摘A wave power device includes an energy harvesting system and a power take-off system. The power take-off system of a floating wave energy device is the key that converts wave energy into other forms. A set of hydraulic power take-off system, which suits for the floating wave energy devices, includes hydraulic system and power generation system. The hydraulic control system uses a special“self-hydraulic control system”to control hydraulic system to release or save energy under the maximum and the minimum pressures. The maximum pressure is enhanced to 23 MPa, the minimum to 9 MPa. Quite a few experiments show that the recent hydraulic system is evidently improved in efficiency and reliability than our previous one, that is expected to be great significant in the research and development of our prototype about wave energy conversion.
基金supported by the National Natural Science Foundation of China(Grant Nos.11672146,11432001)the 2015 Chinese National Postdoctoral International Exchange Program
文摘Optimization of low-thrust trajectories that involve a larger number of orbit revolutions is considered as a challenging problem.This paper describes a high-precision symplectic method and optimization techniques to solve the minimum-energy low-thrust multi-revolution orbit transfer problem. First, the optimal orbit transfer problem is posed as a constrained nonlinear optimal control problem. Then, the constrained nonlinear optimal control problem is converted into an equivalent linear quadratic form near a reference solution. The reference solution is updated iteratively by solving a sequence of linear-quadratic optimal control sub-problems, until convergence. Each sub-problem is solved via a symplectic method in discrete form. To facilitate the convergence of the algorithm, the spacecraft dynamics are expressed via modified equinoctial elements. Interpolating the non-singular equinoctial orbital elements and the spacecraft mass between the initial point and end point is proven beneficial to accelerate the convergence process. Numerical examples reveal that the proposed method displays high accuracy and efficiency.
基金the National Social Science Foundation of China(Nos.21BJL102 and 18BJL118)the Major Program of National Social Science Foundation of China(No.21&ZD109)+2 种基金the National Natural Science Foundation of China(Nos.72074186 and 71673230)the Basic Scientific Center Project of National Science Foundation of China(No.71988101)the Fundamental Research Funds for the Central Universities concerned Chinese Modernization(No.20720231061).
文摘This paper reconsiders the roles of China and some developed countries in the network of carbon emission transfers via international trade in value added from a new perspective of network governance.Network search intensity(NSI)and the extended gravity model are used with cross-country panel data to analyze the mechanism of China's engagement in network governance of carbon emission transfers.The results show that from 2000 to 2009,China was a net exporter of carbon emissions,even though it shifted from the semi-periphery to the core in the network of carbon emissions embodied in imports.Meanwhile,NSI had a significant positive impact on carbon emissions embodied in exports.Given China's important role in the global production network and division of labor,NSI may also affect industrial structure and the quality of the ecological environment to a large extent.This study analyses the network governance mechanism of China's participation in global carbon transfers.The results suggest that the technical complexity of export products and product heterogeneity do not change the positive impact of NSI on carbon emissions.
基金National Key Research and Development Program of China,No.2016YFA0602804National Natural Science Foundation of China,No.41701135
文摘In the past few decades, economic globalization has driven rapid growth of cross-border trade and a new international division of labor, leading to increasing inter-country embodied carbon flows. Multi-region input-output(MRIO) analysis is used to identify embodied carbon flows between major world regions, including seven regions along the Belt and Road(BR), and the spatial distribution of production-and consumption-based carbon intensities. The results show that current embodied carbon flows are virtually all from BR regions to developed countries, with more than 95% of world net embodied carbon exports coming from BR regions. Consumption in the United States and European Union countries induce about 30% of the carbon emissions in most BR regions, indicating that the former bear a high proportion of consumers' responsibility for the carbon emitted in the latter. For this reason, measuring environmental responsibilities from consumption rather than a production-based perspective is more equitable, while developing countries should be given a louder voice in the construction through dialogue and cooperation, in part in the context of the Belt and Road Initiative, of an inclusive global climate governance system.
