2016
DOI: 10.3390/su8020120
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Does the Sustainable PPI Investments Promote Financial Market’s Sustainable Development?

Abstract: Abstract:Since the late 1980s, most developing countries adopt a policy of attracting investments for Private Participation in Infrastructure (PPI) projects. With a perspective of sustainability, this paper offers a first attempt to examine whether the sustainable PPI investments promote financial market development. First, we demonstrate how the PPI policy enlargers the size of financial markets and then fosters the liquidity of financial markets in the static and dynamic conditions. Using the data from 33 de… Show more

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Cited by 6 publications
(6 citation statements)
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“…After analyzing the data collected from 33 developing countries during 1997 and 2012, Fu, Chen and Choi [44] discovered the significant promotion effect of the private investments on the development of financial markets. They also confirmed the significant mediator effect of financial market size for the positive relationship between the private investments and the liquidity of the financial market.…”
Section: Review Of Financial Stakeholders and Market Of Sustainable Cmentioning
confidence: 99%
“…After analyzing the data collected from 33 developing countries during 1997 and 2012, Fu, Chen and Choi [44] discovered the significant promotion effect of the private investments on the development of financial markets. They also confirmed the significant mediator effect of financial market size for the positive relationship between the private investments and the liquidity of the financial market.…”
Section: Review Of Financial Stakeholders and Market Of Sustainable Cmentioning
confidence: 99%
“…DEA is especially important in the field of energy and environmental economics since it handles desirable outputs as well as undesirable outputs such as wastewater and land [4], mortality rate [14], and industrial sulfur dioxide [16]. SEM or similar stepwise approaches are other popular approaches to evaluate diverse survey-related issues as they clarify the role of intermediation or stepwise relationship resulting from the complexity among variables [3,5,11]. As the sustainability issues should examine the spatial and time dynamic effects, most DEA approaches are also based on the stepwise approach [4,14].…”
Section: Methodologies Of Sustainability Sciencementioning
confidence: 99%
“…This is advantageous as the model can demonstrate development trajectories visually and quantitatively with the support of geographical information systems (ArcGIS) to study the spatial distribution of energy consumption and carbon emissions, and the spatial distribution of energy consumption intensity, respectively, for China's provinces and regions. Likewise, to examine the relationship between private participation in infra (PPI) investments and financial market development (FMD), Fu et al (2016) [5] first controlled the country-fixed effect for unmeasurable country characteristics and the time-fixed effect for common shocks across countries. Then, to avoid the influence of heteroskedasticity and autocorrelation, the researchers ran a second round of estimations with robust standard errors and tested the mediator effect with the corresponding coefficients.…”
Section: Methodologies Of Sustainability Sciencementioning
confidence: 99%
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“…Hence, this article investigated three significant and representative international organisations, namely the United Nations, the Organization for Economic Cooperation and Development (OECD), and the International Finance Corporation (IFC), in order to assess their efforts and initiatives in the direction of sustainable construction projects development. [12]It may be noted that these organizations have been instrumental in devising strategies and financing practices for Sustainable construction projects on a global scale in the Developed economies in particular. In what follows, we examine the status of development and practices being followed by the four countries in the realm of environmentally friendly construction practices.…”
Section: Literature Reviewmentioning
confidence: 99%