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• Decoupling of GDP from all energy sources under multiple principles are examined. • World economy achieved weak energy decoupling in most years during 2000–2011. • World economy coupled with coal use and tended to couple with cleaner energy use. • None of studied economies achieved long-term GDP-embodied energy decoupling. • Decoupling delusions occurred when only considering direct and total energy use. Decoupling indicators are widely used to understand links between economic growth and energy use. However, traditional decoupling analyses mostly focus on domestic energy consumption (i.e., the production-based principle) and neglect off-site energy use across global supply chains to satisfy an economy's final consumption (i.e., the consumption-based principle). Moreover, analyses for total primary energy conceal an economy's preference for different energy sources. Therefore, this paper evaluates decoupling states of GDP from all types of primary energy use under consumption-based principle, for world economy and eight typical economies during 2000–2011. Regarding total primary energy, world economy witnessed weak decoupling in most years, and most economies studied (e.g., USA, Japan and China) achieved decoupling initially but performed negative decoupling finally. For EU, USA, Japan, Russia and India, production-based decoupling performances were generally better than consumption-based ones. Decoupling phenomena detected under production-based principle even became coupling or negative decoupling under consumption-based principle in some cases. As for each energy source, world economy decoupled from oil use, but still coupled with coal use, and gradually showed a trend to couple with natural gas and renewables use. Different energy sources showed distinct decoupling degrees from GDP, affected by individual embodied energy requirement structure. This paper uncovers potential energy decoupling delusions to deepen the understanding of relationships between energy use and economic growth. [ABSTRACT FROM AUTHOR]

When a nuclear power plant closes, its host community often faces a number of negative economic impacts, such as the loss of skilled jobs and a major source of tax revenue. Even after decommissioning is completed, many former plant sites remain undeveloped, further inhibiting economic recovery. In this paper, we use data from seven decommissioned and decommissioning plants as well as estimates from industry professionals to calculate an approximate opportunity cost for each host community. This cost represents how much potential revenue has been lost while the plant site has remained undeveloped as compared to an alternate scenario in which it has been redeveloped into a solar power plant. Additionally, this paper discusses the presence of spent nuclear fuel and the challenges this presents for the redevelopment of former nuclear plant sites. This paper demonstrates the importance of efficient decommissioning and post-decommissioning redevelopment and examines solar power generation as one potential redevelopment pathway. [ABSTRACT FROM AUTHOR]

Highlights • The internal relationship between decoupling theory and EKC hypothesis was studied. • A two-dimensional decoupling theory was established. • China and US were taken as a case to study. Abstract The current decoupling theory cannot distinguish the decoupling state of a region with different economic development level. To overcome this problem, this paper first studies the internal relationship between decoupling theory and EKC hypothesis. Furthermore, we establish a two-dimensional decoupling theory of economic development and CO 2 emissions. Finally, taking China and US as a case, this theory is used to explore the decoupling relationship between economic development and CO 2 emissions over the period 1965–2016. If the EKC curve satisfies the inverted U type characteristic, the critical point between strong decoupling and weak decoupling can be approximately obtained at the extreme point of EKC curve. Based on the Tapio decoupling theory and extreme point of EKC curve, the two-dimensional decoupling model with 16 kinds of decoupling sates is established. For China and the United States, the EKC curve of carbon emissions and per capita GDP satisfies the inverted U type characteristic. The threshold value of per capita GDP for China and the United States are $7999.5 and $50980.52, respectively. At present, China's economy is experiencing a low level of economic development. The development of the United States in 2014–2015 and 2015–2016 presented strong decoupling with high level of economic development. [ABSTRACT FROM AUTHOR]

Highlights • We use dynamic panel regression analysis for 70 countries from 1965–2009. • We find that patent rights have no effect on productivity growth. • We offer an alternative explanation, finding the ECI positive and significant. • Our results lend evidence that patent rights are insufficient for the inducement of productivity. • We argue it is not discovery that increases productivity, but the ability to adapt. Abstract Does the rigorous protection of patents advance or retard economic development? Two decades ago, a new global standard of intellectual property swept across developing and industrialized nations through the implementation of the WTO's TRIPS Agreement. Many years later, the issue of patent rights remains contentious. In this paper, we focus on the effects of patent rights systems on total factor productivity growth, using dynamic panel regression analysis for 70 countries from 1965 to 2009. We show that the effects of stronger or more rigorous patent systems are insignificant for productivity growth in both developing and industrialized countries. Why does the strength of patents appear to have no impact on productivity? Classic economic theory suggests that stronger patent systems incentive innovative output with important spill-over effects for productivity and growth. We offer an alternative explanation using data from the Economic Complexity Index. We find that while patents rights are increasingly irrelevant to productivity, the relationship between economic complexity and productivity is highly positive and significant. Our results are consistent with the contributions of the absorptive capacity theory in that they suggest it is not the discovery and ownership of novel products and processes at the innovative frontier that induces productive growth, but the ability to adapt, replicate and diffuse along the international productive chain. [ABSTRACT FROM AUTHOR]

Abstract This paper examines the transportation-growth nexus for the USA by taking monthly data for the period of 2000–2017. The Quantile-on-Quantile (QQ) approach introduced by Sim and Zhou (2015) is applied for empirical analysis. The empirical results show that the effect of economic growth (transportation services with sub-indices) on transportation services with sub-indices (economic growth) is positive for the USA during the pre-post crisis period. Overall, the results have shown the positive effect of transportation on economic growth, however the magnitude of the effect is intensified in the post crisis period. On the other hand, the effect of economic growth on transportation tends to reflect no apparent change displaying the strong positive association in the entire time period. Therefore, this study proposed the policy guidelines considering the links between transportation and economic growth enduring the changes transpired in pre and post period of the global crisis. [ABSTRACT FROM AUTHOR]

The Environmental Kuznets Curve Hypothesis (EKC) which argues that an inverted U-shaped relationship exists between economic growth and environmental degradation has been examined by numerous studies for different countries or country groups. However, the validity of the EKC hypothesis at the sectoral level is mostly ignored. In addition, most of these studies have modeled the nexus between per capita income and CO 2 emissions based on the assumption of non-linearity. Unlike previous studies, the main purpose of this paper is to investigate the validity of EKC hypothesis for sub-elements of carbon dioxide emissions (i.e. total CO 2 emission, commercial CO 2 emission, electrical CO 2 emission, industrial CO 2 emission, residential CO 2 emission and transportation CO 2 emission) in the United States for the annual data of 1973–2015. In doing so, the rolling window estimation procedure is employed to observe the effect of per capita income on sectoral CO 2 emission for each sub-sample period instead of the non-linear assumption. The results of the rolling window coefficients show that inverted U-shaped EKC hypothesis is valid for total CO 2 emission, industrial CO 2 emission, electrical CO 2 emission and residential CO 2 emission. However, the inverted U-shaped relationship between economic growth and CO 2 emission is not supported for commercial and transport sector of the US. [ABSTRACT FROM AUTHOR]

The Genuine Progress Indicator (GPI) was designed to reveal the economic, social, and environmental trade-offs associated with conventional economic growth as traditionally measured by Gross Domestic Product (GDP). Although originally designed for use at the national scale, an interest has developed in the United States in a state-level uptake of the GPI to inform and guide policy. This study presents the first fifty-state estimate for U.S. GPI in order to address questions over its design, implementation, and ultimate potential as a tool to guide state-level economic policy. Following a review of the current state of analysis and critique of GPI, we provide an overview of methodology and database development. Results are then presented, including discussion of lessons learned through a fifty-state application. The paper concludes with suggestions for further research and next steps to consolidating a consistent methodology. [ABSTRACT FROM AUTHOR]

This paper examines the relationship between energy consumption and economic growth for the United States both at a country and at a sectoral level (Industry, Residential, Electric Power and Transportation) using an asymmetric threshold cointegration approach and monthly data from January 1991 to May 2016. Granger causality tests support a neutrality hypothesis for all sectors, except for the case of total consumption at the country level where a unidirectional causality is running from energy consumption to economic growth. [ABSTRACT FROM AUTHOR]

This paper uses a comprehensive dataset on social spending covering the period 1984–2010 for developing countries, and the unique cross-country database on poverty to explore the poverty-reducing role of social protection during financial crises. The results indicate that financial crises are associated with increases in the rates of growth of the poverty headcount and the poverty gap of 12% and 7%, respectively. These detrimental poverty effects of financial crises are significantly lower in countries with higher social spending, suggesting the importance of social protection for poverty reduction in times of crisis and potential gains from policy intervention. [ABSTRACT FROM AUTHOR]

In recent years, distributed renewable energy-generation technologies, such as wind and solar, have developed rapidly. Nevertheless, the utilization of ultra-low-head (ULH) water energy (i.e., situations where the hydraulic head is less than 3 m or the water flow is more than 0.5 m/s with zero head) has received little attention. We believe that, through technological innovations and cost reductions, ULH hydropower has the potential to become an attractive, renewable, and sustainable resource. This paper investigates potential sites for ULH energy resources, the selection of relevant turbines and generators, simplification of civil works, and project costs. This review introduces the current achievements on ULH hydroelectric technology to stimulate discussions and participation of stakeholders to develop related technologies for further expanding its utilization as an important form of renewable energy. [ABSTRACT FROM AUTHOR]

The Environmental Kuznets Curve (EKC) hypothesis argues that the relationship between the pollutant and output is inverted U-shaped, implying that environmental degradation increases with output during the early stages of economic growth, but declines with output after reaching a specified threshold. For the first time in the literature on the EKC hypothesis, this paper assesses the validity of the hypothesis across 48 US States, using the Common Correlated Effects (CCE) estimation procedure by Pesaran (2006) which allows us to obtain results in the presence of cointegration in the relationship between carbon emissions and a measure of output, and its squared value – which captures the inverted U-shaped relationship postulated by the EKC hypothesis. The panel data approach allows the study individual members of the panel, also resulting in efficiency gains that would not be associated with time series approaches based on the small sample size of 51 observations (1960–2010). The findings postulate that the EKC hypothesis holds in only 10 States, with the remaining 38 States should be reforming their environmental regulatory policies to prevent environmental degradation coming only at the expense of production and economic growth. As for the other 10 states, given that a threshold has been achieved, higher growth would be accompanied with lower emissions, and hence, no additional environmental policies are required. [ABSTRACT FROM AUTHOR]

While much attention has been given to the effects of migration and remittances on agricultural activities in the communities of origin, the relationship between remittances and rural households' use of natural resources remains understudied. This paper contributes in filling this gap by using a Mexican data set that contains detailed information on both remittances and use of natural resources at the household level. The data set is representative of the rural population of Mexico at the national level, which allows us to move beyond case studies overcoming one of the main challenges for understanding the relationship between livelihoods and the environment. Results show that remittances have significant effects on the use of natural resources by the receiving households. We find that a) remittances decrease the likelihood that a household will participate in natural resource extraction, and b) households that receive remittances and extract natural resources have lower environmental income and lower environmental reliance than households not receiving remittances. By reducing participation in extraction as well as reliance on natural resources, remittances reduce the pressure that local populations put on the natural resource base that surrounds them. This could mean good news for the conservation of natural resources. However, it also shows the vulnerability of Mexico's natural resource to periods of low or negative economic growth in the United States inasmuch as they affect the amount of remittances that migrants send back home. [ABSTRACT FROM AUTHOR]

STEM-related industries are a major driver of U.S. economic growth and possessing mathematics skills is a central component of success in STEM fields. Thus, it is important to identify predictors of mathematics achievement in high school students. Some previous research has shown that students' beliefs and attitudes are important predictors of their mathematics grades and achievement. In the present paper, we examined the ability of mathematics beliefs and attitudes to predict ACT mathematics test scores by analyzing data from a questionnaire designed using the Theory of Planned Behavior framework given to high school juniors and seniors who had recently taken the ACT. Results revealed that mathematics attitudes, subjective norms, perceived control, and intentions were all significantly correlated with mathematics course grades and ACT mathematics scores. Attitudes also incrementally predicted ACT mathematics scores over several key variables. The article concludes with a discussion of limitations and future directions. [ABSTRACT FROM AUTHOR]

Summary: Governance is becoming increasingly important in development and poverty reduction policies. However, the forms and methods by which it is to be incorporated into donor programs are only emerging at present. In this paper, we contrast two very different approaches—the White House led Millennium Challenge Account (MCA) and DFID’s Drivers of Change (DOC) Approach—to analyzing governance, and compare their theoretical underpinnings. A key factor explaining why these different approaches have been adopted is that for the United States, global poverty reduction is a footnote to its foreign policy and national security agenda, whereas in the United Kingdom, global poverty reduction engages both the national political leadership and the civil society. In conclusion, the paper suggests that enduring contradictions confronted by all donors complicate the treatment of governance in empirically nuanced terms (as DOC attempts to do) while privileging a more universalistic approach like the MCA. [Copyright &y& Elsevier]

This paper considers more than 2000 dust explosion accidents that occurred worldwide between 1785 and 2012. The statistical features of these cases are first examined spatially and temporally. Accident frequencies at different levels of economic development are further discussed. China and the United States are chosen as examples to represent the differences in distribution features of dust explosions in countries with different economic development levels. Data for combustible dusts leading to dust explosions in both China and the United States are also collected and categorized. The features of ignition sources for dust explosions, the types of enterprises with high risk, and the critical equipment in such enterprises are also analyzed. The results could help identify hazards of dust explosions in various industries, monitor the critical equipment, and further suggest safety improvement procedures to reduce the probability and damage of dust explosions. [ABSTRACT FROM AUTHOR]

Arts policy at the local level in the United States has taken a turn toward emphasis on economic development. In particular, a lively cultural scene is held to be an attractor of mobile, skilled workers, entrepreneurs, and businesses, both in providing a location with interesting opportunities for consumption of culture, and as providing an ambiance that could lead to greater productivity in all industries that rely upon creativity and innovation. This paper assesses the hypothesis that public investments in the arts can spur local development, and the implication for the choices over which are the most effective public investments if the hypothesis is true. It critically examines changes in state and federal arts policy that have shifted focus toward creative places and cultural districts, rather than just artists or nonprofit arts organizations. [ABSTRACT FROM AUTHOR]

A better understanding of the relationship between public investments in agricultural R&D and the productivity enhancing benefits they produce is critical to informing the public funding of agricultural R&D and insuring future increases in agricultural productivity. This paper describes a method of estimating the relationship between research investments, productivity growth, and the resulting economic benefits generated. The data requirements include indexes of multi-factor productivity, investments in R&D, and the value of agricultural output. The real rate of return to public investments in agricultural R&D in the United States is estimated to be 10.5% per annum; however, a reduction in the growth of spending on public agricultural R&D in recent decades raises concerns about productivity growth in coming decades, which is required to insure an adequate supply of food to meet increasing demand. [ABSTRACT FROM AUTHOR]

This paper uses recent data on both broadband availability and adoption to empirically gauge the contribution of broadband to the economic growth of rural areas of the United States over the past decade. Availability data from the National Broadband Map aggregated to county level is used in conjunction with county-level adoption data from Federal Communication Commission. Economic variables of interest include median household income, number of firms with paid employees, total employed, percentage in poverty, and the percentage of employees classified as either creative class or non-farm proprietors. A propensity score matching technique (between a “treated” group associated with various broadband thresholds and a control group) is used to make preliminary causal statements regarding broadband and economic health. Growth rates between 2001 and 2010 for different economic measures are tested for statistical differences between the treated and non-treated groups, restricting the analysis to non-metropolitan counties. Results suggest that high levels of broadband adoption in rural areas positively (and potentially causally) impacted income growth between 2001 and 2010, and negatively influenced unemployment growth. Similarly, low levels of broadband adoption in rural areas lead to declines in the number of firms and total employment numbers in the county. Broadband availability measures (as opposed to adoption) demonstrate only limited impacts, suggesting that future broadband policies should be more demand-oriented. [ABSTRACT FROM AUTHOR]

In the United States, the industrial sector is the driving engine of economic development, and energy consumption in this sector may be considered as the fuel for this engine. In order to keep this sector sustainable (diverse and productive over the time), energy planning should be carried out comprehensively and precisely. This paper describes the development of two types of numerical energy models which are able to predict the United States' future industrial energy-demand. One model uses an ANN (artificial neural network) technique, and the other model uses a MLR (multiple linear regression) technique. Various independent variables (GDP, price of energy carriers) are tested. The future industrial energy demand can then be forecasted based on a defined scenario. The ANN model anticipates a 16% increase in energy demand from 2012 by 2030. In this forecast, the model assumes that the effective independent parameters remain constant during this period and only GDP grows with a second-order polynomial trend. The forecast result, which shows consistency with published predictions, may be considered as an indication of the need for development of new and low-cost energy sources. This study suggests that the ANN technique is a reliable and powerful technique which can effectively perform input/output mapping. In order to validate the performance of the models, the results of the ANN model is compared to the projections from the Energy Information Administration of the U.S. Department of Energy. [ABSTRACT FROM AUTHOR]

Abstract: This paper examines the short- and long-run effects of economic growth and market shocks (e.g., 9/11 terrorist attacks, Iraq war, SARS epidemic, and 2008 financial crisis) on air passenger and freight services using an autoregressive distributed lag (ARDL) approach to cointegration. Results show that, in the long-run, both air passenger and freight services tend to increase with economic growth. In the short-run, however, only air passenger service is responsive to economic growth. Finally, only the 9/11 terrorist attacks and the SARS have detrimental effects on air passenger demand both in the short- and long-run, and in the long-run, respectively. However, these market shocks are found to have little impact on air freight demand. [Copyright &y& Elsevier]

Abstract: The water transportation of freight has been one of the most important sectors in facilitating international trade and contributing to the growth of the world economy. Bearing in mind the importance of the relation between asset returns and liquidity in water transportation, this paper examines this relation within the context of US traded international water freight transportation firms. Using a Fama–MacBeth analysis, it is shown that the illiquidity risk premium is priced in the water transportation sector beyond the Fama and French and market-wide illiquidity risk factors, indicating higher average returns for stocks with greater illiquidity measures. It is also shown that the market-wide illiquidity factor and the Fama–French SMB and HML risk factors are significant in explaining stock returns. In contrast, market risk is found not to be priced in the water transportation sector. The results are also robust to asset pricing tests over two alternative sub-periods. [Copyright &y& Elsevier]

Abstract: Several studies in psychology and economics have demonstrated that the average cognitive ability (talent) of people living in a society affects the economic development of the society. There is, however, reason to expect that the economic development of societies depends not just on the average level of talent but also on the allocation of talent in society — societies that allocate people with different talents more efficiently should be more successful in economic terms. Efficient allocation of talent means that people with higher ability do jobs of higher complexity. The present paper constructed several measures of allocation of talent and analyzed their effect on the economic growth rate of countries and U.S. states. Overall, the analyses support the idea that the countries and states that have a better allocation of talent exhibit higher levels of economic growth. [Copyright &y& Elsevier]

Abstract: This paper studies the effects of oil price shocks in the last 30years on the Brazilian and American inflation rate and rhythm of economic activity. The Brazilian and the United States economies are interesting polar cases, since they had a completely different path on the oil import dependence rate. While the oil import dependence rate has increase sharply in the United States (US), it has decreased substantially in Brazil. We found that output growth volatility in the United States has been decreasing over time as well as the contribution of oil price shocks to such volatility, despite the increase in oil import dependence. Inflation volatility has also been decreasing but oil price shocks are accounting for a larger fraction of this volatility in the US. In Brazil, such shocks do not seem to have a clear impact on output growth and they account for a very small fraction of the Brazilian inflation and output growth rate volatility. We finally run some counterfactual experiments to analyze how real output growth in the United States would had been if net oil import share in the United States behaved similarly to what was observed in Brazil. We conclude that output level would be roughly the same, however, it would be about 10% less volatile if the US had the actual Brazilian oil import share. [Copyright &y& Elsevier]

Abstract: Coal production is an activity with marketable output and safety output, and the interaction between coal production and safety inputs reflects the relationship between economic development and occupational safety. Through analysis of the long-term interaction between coal production and safety inputs, this paper divides a country’s stages of safety level into developing stage, stable stage and transcending stage. According to the basic principle of the Cobb–Douglas production function, a coal production model is set up, and regression analysis is conducted using EViews software. The results indicate that China has not yet achieved the best balanced status but has remained in the developing stage; while the US has been in the stable stage. The impulse response curves indicate that the rate of technological progress had the most obvious response and that technological progress was an important support of economic output. For China, the safety input showed a secondary effect and was also an effective method for improving economic output. However, the labor growth rate had little influence on coal production and no direct impact on economic output at this stage. If the difference in development stages is measured only by labor productivity, then China needs at least 30years to reach the safety production level of the US. Some suggestions to enhance Chinese coal-mine safety are proposed through learning from the US and Australian experience. [Copyright &y& Elsevier]

Abstract: This paper studies the monetary policy of the Federal Reserve (Fed) and the European Central Bank (ECB) with respect to stock or/and foreign exchange markets from 1979 to 2009. I find that during the Greenspan era stock markets played a role in US monetary policy. The Fed lowered interest rates when stock prices fell, but did not raise interest rates in response to rising stock prices. This asymmetry put a downward pressure on interest rates. For the ECB, the exchange rate to the dollar played a role in monetary policy decisions. While I do not find evidence of asymmetric monetary policy with respect to the stock market, the ECB may be argued to have indirectly followed the asymmetric US monetary policy via the exchange rate channel until 2006, the period until which the dollar depreciated heavily against the euro. With asset markets putting a downward pressure on interest rates, it is likely that the Fed and ECB contributed to recent boom-and-bust cycles by providing low-cost liquidity to flourishing markets. Relevance and implications of the findings are discussed. [Copyright &y& Elsevier]

Abstract: Wind energy is one of the fastest growing sources of power generation in the world. While general public and political support for wind energy is often high, siting wind farms frequently raises concerns in local communities, and individual projects often fail because of effective public opposition. This paper presents the results of a postal and online survey questionnaire that explores public perceptions of wind energy in two of the most important states for wind development, Texas and Iowa. The goal is a better understanding of public reactions to large-scale wind developments as a prerequisite of more widespread use of renewable energy resources. We found a high level of public support for wind energy, with more than two-thirds of respondents being in favor of building more wind farms either in their community or within the U.S. as a whole. Given that the majority of respondents had a very high level of concern for the general environment, we also found that almost two-thirds of respondents counter-intuitively indicated that producing electricity using fossil fuels is not detrimental to the environment, and that they had little concern for global climate change. Our results suggest that arguing for more renewable sources of energy based on reducing our carbon footprint is less persuasive in these communities than simply approaching it from the perspective of wind being a clean and safe source of energy. More than two-thirds of respondents felt their county had benefited economically from the wind farms and that they were a source of job creation in the county. Support for wind power in these communities is associated far more with socioeconomic factors than foundational aesthetic or moral values, with wind farms perceived as the vehicle that will reverse economic decline. [Copyright &y& Elsevier]

A semi-empirical endogenous growth theory was proposed by the authors in 2005. It is based on a model of the economy as a two-stage materials/energy processing system. Growth is simulated by a two-parameter production function with two traditional factors, labor and capital, and a non-traditional factor, namely ‘useful work’. The non-traditional factor is calculated from primary energy inputs multiplied by an empirically estimated average energy conversion efficiency, which is a function of changing technology over time. This model ‘explains’ past US growth from 1900 through 1973–74 with satisfactory accuracy but it slightly underestimates subsequent growth (i.e. it leaves a small unexplained but increasing residual) for the period after 1975. However, by subdividing capital stock into traditional and ICT components, we are able to extend the theory to explain US economic growth accurately. In this paper we also extend the results to Japan. The revised production function has only three independent parameters. The new model also has implications for future economic growth, energy and environmental policy that differ significantly from the traditional growth theory. These implications are discussed briefly. [Copyright &y& Elsevier]

Abstract: This paper examines international trade issues as vital indicators of the economic prospects of the United States and other developed economies. In particular, it challenges misuses of the doctrine of mutual gains from trade and instead argues that comparative advantage does not guarantee increases in benefits to both trading partners—especially when one partner seeks to distort the market mechanism in its favor. In the face of such mercantilist or protectionist practices, efforts to advance innovation, without retaining manufacturing jobs, will not ensure continued prosperity, as the number of jobs entailed in the invention process is small compared with the number of jobs associated with manufacturing an innovative product for mass consumption. These matters call for the urgent rethinking of trade policy by the United States and other developed nations, if they are to balance their imports and exports and ensure continued economic growth. [Copyright &y& Elsevier]

Abstract: The aim of the research described in this paper is to evaluate the relationship between the service capabilities and performance of UK and Taiwanese third-party logistics (3PL) providers. A study is presented based on a recent survey. The results identify the most important services offered by 3PLs and the most important aspects of 3PL operational performance. The results also suggest that excellence in operations is more important than wide-ranging service provision. Furthermore, the research suggests that the range of service provision offered by 3PLs does not directly influence the 3PLs’ financial performance. However, 3PL providers with service capabilities that correspond to the key priorities of customers will gain superior financial performance through a better operational performance. Similarities and differences between logistics practices in the UK and Taiwan are highlighted. [Copyright &y& Elsevier]

Abstract: The rapid growth of energy consumption in conjunction with economic development during past decades in East Asia, especially China, caused severe air pollution problems at local and regional scales. Understanding of the meteorological conditions for air pollution is essential to the understanding of the formation mechanism of air pollutants and the development of effective emission control strategies to reduce air pollution. In this paper, the Fifth Generation National Center for Atmospheric Research (NCAR)/Pennsylvania State University (PSU) Mesoscale Model (MM5) modeling system is applied to simulate meteorological fields during selected six 1-month periods in 2007/2008 over a triple-nested modeling domain covering East Asia, the eastern China, and Shandong Province at horizontal grid resolutions of 36-, 12-, and 4-km, respectively. MM5 generally reproduces well the observations in the eastern China but performs worse in the western China and northeastern China. Largest biases occur in 2-m temperatures (T2) and wind speed and wind direction at 10-m in haze months (i.e., winter) and daily mean precipitation (Precip) in non-haze months (i.e., summer), due to limitations of the model in simulating snow cover and convective precipitation. Meteorological predictions agree more closely with observations at urban sites than those at the coastal and mountain sites where the model performance deteriorates because of complex terrains, influences of urban heat island effect and land/sea breezes, and higher elevations. Model results at 12-km in Shandong Province show an overall better performance than those at 4- or 36-km while the results at 4-km show worst performance due to inaccurate land use and the model’s incapability in simulating meteorological processes at a fine scale. [Copyright &y& Elsevier]

Abstract: Most analyses of teacher quality end without any assessment of the economic value of altered teacher quality. This paper combines information about teacher effectiveness with the economic impact of higher achievement. It begins with an overview of what is known about the relationship between teacher quality and student achievement. This provides the basis for consideration of the derived demand for teachers that comes from their impact on economic outcomes. Alternative valuation methods are based on the impact of increased achievement on individual earnings and on the impact of low teacher effectiveness on economic growth through aggregate achievement. A teacher one standard deviation above the mean effectiveness annually generates marginal gains of over $400,000 in present value of student future earnings with a class size of 20 and proportionately higher with larger class sizes. Alternatively, replacing the bottom 5–8 percent of teachers with average teachers could move the U.S. near the top of international math and science rankings with a present value of $100 trillion. [Copyright &y& Elsevier]

Abstract: This paper argues that increasing average incomes and stagnating levels of happiness, as observed in the United States since the 1970s, do not constitute a paradox. First, we show that the effect of higher incomes has been more than counteracted by changes in other socioeconomic variables, notably the prevalence of marriage and divorce. Second, we show that the effect of a given amount of real income on happiness has not changed between the 1970s and the early 2000s. [ABSTRACT FROM AUTHOR]

Abstract: This paper explores the determinants of the EU–US TFP growth gap using EU KLEMS. As found in previous analyses, TFP growth appears to be driven by catching-up phenomena associated with the gradual adoption of new technologies. TFP growth is also significantly driven by developments at the “technological frontier”, especially since the mid-1990s. Industries with higher R&D expenditures and higher adoption rates for ICT-intensive technologies appear to exhibit higher TFP growth rates, whilst human capital has mostly a significant effect across countries. Regarding determinants in industries relevant for the different TFP performance of the EU versus the US, ICT-producing industries appear to benefit from R&D in terms of stronger spillovers from TFP gains at the frontier, network utilities are strongly affected by product market regulations, whilst the retail and wholesale trade industry is significantly influenced by consumption dynamics which permit a better exploitation of scale economies. [ABSTRACT FROM AUTHOR]

Abstract: The goal of this paper is to examine whether the volatility of the growth in the US oil stocks has changed overtime, and if it has then whether or not this change is real. We find that the growth in volatility of oil stocks has declined overtime. We conduct a Monte Carlo simulation exercise to investigate whether this decline is real or an artefact of the growth definition. Our findings support the fact that the decline in growth volatility of oil stocks is an artefact of the growth definition. This is because a data generating process having a unit root with drift has a tendency to grow and thereby pulls the variance of growth down with time. [Copyright &y& Elsevier]

Abstract: The paper examines the macroeconomic effects of social diversity in the United States. Employing a cross-sectional dataset for 48 states, we find mixed empirical evidence for the impact of diversity on Gross State Product (GSP) per capita growth: racial diversity reduces GSP growth, while linguistic diversity raises GSP growth. Our findings suggest that because English is used frequently by non-native speakers barriers to communications based on race are more pronounced and enduring than those based on linguistic differences. The results provide a justification for establishing ‘weak ties’ across diverse racial groups as a means to enhance economic performance. [Copyright &y& Elsevier]

Abstract: In the sector of information and communication technologies (ICT), whether in the USA, Japan, or Europe, innovative services are already in use, based on large-scale space-based infrastructure investments. Such systems are e.g. earth observation, telecommunication, and navigation, timing and positioning satellites. In combination with the advent of powerful handheld terminals and the demand for ubiquitous services, it is expected that info-mobility applications will reveal new sources of business in the years ahead, using in particular the Earth observation and future GALILEO systems to position any feature or user anywhere in the world within a few meter accuracy. Hence, satellite-based capabilities provide new and unique opportunities for economic stimulation and development. Many incubators and innovation centers in Europe have already grasped this growth potential. Yet, for many European players business growth appears below expectations compared to developments in the USA following the launch of GPS (Global Positioning System). Europe still has to overcome intrinsic barriers to seize these new business opportunities faster and with more visible economic impact by leveraging on SMEs and regional innovation centers to expand the commercial utilization of satellite capabilities and mobilization of appropriate financial resources. The paper elaborates on the INVESat project (funded by the EuropeInnova—European Commission), which aims at bridging the gap between Innovative enterprises and financial InVEstors in the emerging markets of SaTellite applications. The critical success factors required to stimulate and support more efficiently investments in this bread of innovative services will also be highlighted. [Copyright &y& Elsevier]

Abstract: This paper assesses how the current housing and credit crisis will impact US real activity, and how recession interacts with adjustment of global imbalances. A simple real-side model with decreasing returns to factors and non-clearing goods and labor markets is disaggregated into traded and non-traded sectors and three regions (US, EU and Asia). A three region model offers two degrees of freedom and six candidate variables for endogeneity in international accounts. Applying standard income and elasticities approaches as well as a less standard ¿Bretton Woods II¿ closure in simulations suggests external imbalances can be reduced in the current recession with a mix of fiscal expansion and some Asian real appreciation. [Copyright &y& Elsevier]

Abstract: Despite increased efficiency in the use of natural resources, the use of these resources continues to increase in most societies. This paper examines the discrepancy between the potential decrease of use of natural resources, as an effect of increased efficiency, and actual use. During the period 1960–2002, this difference was found to grow faster in the USA than the mean for six West European countries. Possible reasons for this difference between the two regions are analysed. To reduce the anthropogenic flows of energy and material, and the consequent deleterious effects on the biosphere, it will become necessary to adapt consumption to degree of efficiency in the use of natural resources. Based on the comparison between the two regions, some economic aspects of this issue are discussed. [Copyright &y& Elsevier]

Summary: This paper first reviews the debate on the definition of pro-poor growth and argues that a relative definition has merits when defining the state of pro-poor growth, while an absolute definition is most suitable when analyzing the rate of pro-poor growth. The second contribution is to extend the pro-poor growth toolbox to non-income indicators. The analysis, applied to Bolivia, shows that this extension greatly improves our understanding of the distribution of change in non-income indicators, of the linkages between progress in income and non-income dimensions of poverty, and on the incidence of progress in non-income outcomes along the income distribution. [Copyright &y& Elsevier]

Summary: China’s emergence has raised pointed questions about the future of manufacturing in Latin America. This paper looks at this challenge and its implications. It begins by asking: Does manufacturing still matter for Latin America? It argues that the region cannot afford to turn its back to a well-proven road to development. It then moves on to show that endowments, productivity, scale and the government’s role, all work together to make China a formidable competitor. The importance of this challenge is confirmed by an analysis of the trade data, which suggests a small impact so far, but a disquieting trend. [Copyright &y& Elsevier]

Abstract: In many ways Cuba and the USA state of Florida are similar; both comprise similar areas and sized populations, and until 45 years ago they were economically linked. Now, despite being physically close, in economic and political terms Cuba and Florida are worlds apart. Overall, while Florida has grown economically stronger over time, economic growth in Cuba has been far more constrained due to external pressures—most notably the economic blockade by the US and the collapse of the Soviet Block. This paper devises a range of indicators for both territories to explore how mobility, energy use and emissions might be influenced by socio-economic conditions. Specifically, it compares and contrasts how transport policies have developed in an environment with virtually no economic constraints, and a situation where strong constraints were in place. [Copyright &y& Elsevier]

The relationships among various subsets of economic development, poverty, crime, and/or income inequality have been separately investigated in several theoretical and empirical studies. However, there has been very little empirical analysis on the interdependence among all these variables in one framework. This paper examines the causality between economic development and poverty while incorporating crime and inequality. It employs a co-integration test, a 4-variable vector autoregressive (VAR) model, and a Granger test in the US over the period 1959–2001. Findings reveal a feedback loop mechanism between economic development, poverty, and crime. Interestingly, income inequality as measured by the Gini coefficient has no important impact on any of the variables. [Copyright &y& Elsevier]

The spatial diffusion of poverty and the demographic profile of the “poor” in cities like Los Angeles, where 1.7 million residents of the greater metropolitan area qualify as such, suggest that poverty is neither a socioeconomic exception nor affiliated with a singular sociocultural or racial group. However, our policy discourse and solutions continue to suffer from a modernist/industrial era explanation of poverty and its spatial concentration. In this paper, I will offer an alternative interpretation of economic development in the 20th century and propose that development projects fit comfortably into the political philosophy of nation building and the social construction of citizenship. Under the umbrella of social justice and democracy, many regions of the world, including the inner city, have been envisioned as landscapes of social and political instability and targeted for development as such. Here, the equating of development with stability is examined theoretically to suggest that anti-poverty policies, both in the US and the UK, can be viewed as an extension of the 20th century modernist nation-building agenda. [Copyright &y& Elsevier]

• Rural small towns have unique challenges when faced with regeneration efforts. • Successful practices include placemaking, a champion, and public/private partnerships. • These practices make up a theoretical framework for regeneration called Catalytic Community Development. • Kinston's efforts, analyzed through the lens of Catalytic Community Development, employ the arts/entertainment to encourage rural tourism. • These regenerative efforts are showing signs of success. There is a paucity of research into small and rural town regeneration in the United States. This paper examines regenerative efforts in Kinston, NC using the lens of Catalytic Community Development, a framework that focuses on local efforts that bring new economic capacities to regenerative efforts. Kinston has seen decades of decline as traditional industries migrated to other regions. A group of local changemakers have combined efforts with city staff and non-profits to catalyze economic growth through the arts and cultural tourism. Several events provided the spark of regeneration that this local network is keen to capitalize on. These efforts support findings that Catalytic Community Development can serve as a viable framework for rural small-town regeneration. [ABSTRACT FROM AUTHOR]

The relationship between CO 2 emissions and economic growth is well-examined. However, there is a gap in the literature to examine the nexus by regime-switching models. For this purpose, this paper examines the interdependence relations between CO 2 emissions and the industrial production index as a measure of business cycles at the monthly frequency in the United States. We use a new approach to modeling dependence between the underlying variables over time, combining the time-varying copula and the Markov switching models. We find that there is a significant dependence structure between business cycles and CO 2 emissions, which has a regime-switching feature, for the period from January 1973 to January 2017. Specifically, during the recession episodes, we deduce that until 1982, the high dependence regime with the Gaussian copula is valid. Since the beginning of 1983, the low dependence structure regime becomes prominent. • We analyze the interdependence relations between CO 2 emissions and business cycles in the U.S. • We use the time-varying copula and the Markov switching models. • We find that the significant dependence structure between business cycles and CO 2 emissions. • We observe that the high dependence regime with the Gaussian copula is valid until 1982. • We find that the low dependence structure regime becomes prominent since the beginning of 1983. [ABSTRACT FROM AUTHOR]