This paper uses the time-varying parameter-stochastic volatility-vector autoregression (TVP-SV-VAR) model to analyze the time-varying impact of housing price fluctuations on banking financial risk under different macrocontrol policy backgrounds. The results indicate that the impact of housing price fluctuations on banking financial risk at different time points has always been positive, showing a"hump-shaped" trend of first rising and then falling. However, the impact of this kind of shock is obviously heterogeneous. With the tightening of external macrocontrol policies, the positive impact has gradually weakened. The tightening macrocontrol policy environment is more conducive to alleviating the impact of housing price fluctuations on banking financial risk.
The environmental effects of national new areas have been an important topic but received little attention in academia. This study conducts a quasi-natural experiment using panel data of China’s 282 prefecture-level cities from 2006 to 2019, and evaluates the establishment of national new areas on urban ecological efficiency using the staggered difference-in-difference (DID) method, tests the robustness, and further examines the influential mechanism and urban heterogeneity of the empirical results. The results show that the establishment of national new areas has significantly improved urban eco-efficiency. Moreover, the mechanism analysis of the influences shows that national new areas improve urban eco-efficiency by improving urbanization level and urban transportation infrastructure. In addition, the heterogeneity analysis of cities shows that national new areas of cities in eastern and central regions are both significantly improving urban eco-efficiency, while those in western and northeastern regions are not. Furthermore, the promotion effect in the regions of “one new area in one city” model is better than that in “one new area in two cities” model; national new areas in non-resource-based cities show more positive effects on promoting urban eco-efficiency than those in resource-based cities. The conclusions reliably evaluate the results of the current construction of national new areas and provide feasible suggestions for further implementation of the related policy to balance economic development and environmental protection.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.