This paper analyzes the relationship between the stock of infrastructure and income increases using data from 15 typical countries,including China,and measures the gap between China and npper-middlle-income countries ...This paper analyzes the relationship between the stock of infrastructure and income increases using data from 15 typical countries,including China,and measures the gap between China and npper-middlle-income countries using the Euclidean distance.By constructing a domestic infrastructure investment demand model,this paper provides the basis for determining the growth rates for infrastructure investment demand under the given economic development goals and assessing the rationality of such growth rates.The paper finds that,as the per-capita income level increases, the total infrastructure demand rises but different types of infrastructure stock grow at different paces.Using the 2004 domestic infrastructure level as the benchmark for international comparison,we find it imperative for China to further boost resource infrastructure construction in the future and keep resource infrastructure investment growing at an average annual rate of 15%-24%.The infrastructure investment growth rate should be kept above the nominal GDP growth rate.展开更多
China has the world’s largest reserves of rare earth elements.Rare earth permanent magnet material has always been one of the popular industries in the investment market.CAPM is the basic asset-pricing model in finan...China has the world’s largest reserves of rare earth elements.Rare earth permanent magnet material has always been one of the popular industries in the investment market.CAPM is the basic asset-pricing model in financial economics.There are a number of studies conducted to examine the applicability of CAPM to stock markets in different industries and to investigate the modification method to improve the model’s prediction accuracy.In this study,seven leading enterprises in China’s rare earth permanent magnet material industry listed on the A-share market were selected as the research subjects.Based on CAPM,regression analysis was conducted on the monthly data from March 2016 to February 2022.The results demonstrated that using the β coefficient to explain the risk of China’s rare earth permanent magnet industry is ineffective.The ultimate benefit was less affected by market indexes but mainly by non-systematic risks.CAPM has low applicability to China’s rare earth permanent magnet material industry and requires further improvement.Nevertheless,CAPM still has some guiding significance in making enterprise comparisons and investment decisions.展开更多
文摘This paper analyzes the relationship between the stock of infrastructure and income increases using data from 15 typical countries,including China,and measures the gap between China and npper-middlle-income countries using the Euclidean distance.By constructing a domestic infrastructure investment demand model,this paper provides the basis for determining the growth rates for infrastructure investment demand under the given economic development goals and assessing the rationality of such growth rates.The paper finds that,as the per-capita income level increases, the total infrastructure demand rises but different types of infrastructure stock grow at different paces.Using the 2004 domestic infrastructure level as the benchmark for international comparison,we find it imperative for China to further boost resource infrastructure construction in the future and keep resource infrastructure investment growing at an average annual rate of 15%-24%.The infrastructure investment growth rate should be kept above the nominal GDP growth rate.
文摘China has the world’s largest reserves of rare earth elements.Rare earth permanent magnet material has always been one of the popular industries in the investment market.CAPM is the basic asset-pricing model in financial economics.There are a number of studies conducted to examine the applicability of CAPM to stock markets in different industries and to investigate the modification method to improve the model’s prediction accuracy.In this study,seven leading enterprises in China’s rare earth permanent magnet material industry listed on the A-share market were selected as the research subjects.Based on CAPM,regression analysis was conducted on the monthly data from March 2016 to February 2022.The results demonstrated that using the β coefficient to explain the risk of China’s rare earth permanent magnet industry is ineffective.The ultimate benefit was less affected by market indexes but mainly by non-systematic risks.CAPM has low applicability to China’s rare earth permanent magnet material industry and requires further improvement.Nevertheless,CAPM still has some guiding significance in making enterprise comparisons and investment decisions.
