This paper provides empirical evidence on the incentive role of personnel control in China in the twenty-first century. Employing the city-level turnover data of political leaders in China between ...2000 and 2018 and utilizing the fixed effects ordered logit model, we find that the likelihood of promotion of local leaders rises with their economic performance. This relationship holds more firmly in the municipal party secretary. The probability is also found to decrease with the economic performance of their immediate predecessors and neighboring cities. This finding is robust to various robustness tests. We interpret the finding as evidence that the relative economic performance (peer effects) also contributes to the local political turnover, in particular within a province. Moreover, after the Third Plenary Session of the 18
th
CPC Central Committee, a material change in the personnel arrangement within the party arises and this promotion mechanism shows a dynamic change. Our study sheds some light on the growing literature emphasizing the relationship between political turnover and economic performance.
To address the problems of the difficult processing and internal microstructure disorder of porous bearing cages, Polyetheretherketone (PEEK) porous self-lubricating bearing cage material was ...prepared based on a fused deposition molding (FDM) process, and the porous samples were heat-treated on this basis, the research was carried out around the synergistic design of the material preparation, microstructure, and tribological properties. The results show that the pore size of the PEEK porous material prepared by the FDM process meets the requirements of the porous bearing cage; the samples with higher porosity also have higher oil content, and all the samples show high oil retention. Under dry friction conditions, the higher the porosity of the porous material, the larger the friction coefficient, and the friction coefficients of each sample after heat treatment show the same pattern; under starved lubrication conditions, the friction coefficient of the porous PEEK material decreased significantly compared to the compact PEEK material, showing a better self-lubrication effect, and the porous samples reached the best self-lubrication effect after heat treatment. The optimal process parameters were 60% mass fraction of NaCl, 40% mass fraction of PEEK, and the applied heat treatment process.
This study analyzes how local governments use external financing instruments to adjust their capital structure. External financing instruments (public debt and public-private partnership PPP) have ...become critical options for most local governments to deal with budget constraints. We construct an indicator of the external financing ratio (EFR) to measure local governments' dependency on external financing instruments. Based on the pecking order and tradeoff capital structure theories, we utilize city-level panel data in China between 2015 and 2019 to investigate the financing strategies of local governments. We report two main findings. First, the financing strategies of China's local governments follow the pecking order theory. In other words, internal financing has priority over debt and then PPP. Second, consistent with the tradeoff theory, China's local governments continuously adjust to a target EFR. In addition, compared with debt financing, the adjustment of PPP financing is relatively inelastic. Our study emphasizes the importance of public financial management reinforced by local governments to prevent fiscal risks in the context of intensified financial stress.
This paper explores the spatial diffusion of Public-Private Partnership (PPP) in China, assessing the effects of regional boundaries, including political and functional boundaries, and transaction ...costs on this process. We conduct an empirical analysis using county-level panel data from 2014 to 2020 and employ a combination of geographic information system (GIS) and spatial autoregressive models to analyze the spatial factors influencing PPP diffusion in China. Our findings reveal three key points: First, local governments' PPP investment positively correlates with neighboring regions, indicating a contagious effect. Second, the contagious effect is more significant within the same urban agglomeration, demonstrating a boundary effect and illustrating the impact of spatial rescaling on spatial diffusion. Third, the contagious effect is more pronounced for PPP sectors with lower output measurement difficulty, suggesting transaction costs influence spatial diffusion. These findings offer valuable insights into barriers to spatial diffusion and strategies to promote the spatial diffusion of innovation.
•We explore the spatial diffusion of Public-Private Partnership (PPP) in China.•We conduct an empirical analysis using county-level panel data from 2014 to 2020.•Results indicate a contagious effect in the spatial diffusion of PPP investment.•The contagious effect is more significant within the same urban agglomeration.•Transaction costs influence spatial diffusion.
This paper focuses on the subfield of Public-Private Partnership (PPP), and explores the relationship between policy uncertainty and firm-level investment. Based on the analysis of 905 central-level ...documents, one novel contribution of this paper is to construct an index of PPP policy uncertainty. We find evidence supporting that the gambling between central government departments is the main cause of policy uncertainty, which further leads to less investment by firms. Compared with other traditional indexes, the construction based upon policy text sheds light on risk management.
Childhood unexpected trauma casts a lifelong shadow on subsequent financial behaviours. The existing literature has mainly investigated stock or bond market participation, and few scholars focus on ...insurance decisions. Our paper enriches previous studies by testing the impact of childhood famine exposure on household life insurance demand in middle and older age groups. Using CHARLS, we discover that householders exposed to the 1959-1961 Great Chinese Famine as children were more inclined to own life insurance policies and pay higher premiums. Specifically, respondents who experienced the famine between 0-2 or 7-17 years old highly promoted their life insurance demand, whereas no statistically significant effects were observed for preschool famine experience. Additionally, women and people with three or more children were more likely to be influenced by the famine. Finally, risk and time preference were effective mediation factors, both channelling around 5% of the relationship.
•The composition mole ratio and processing parameters used were different from others.•A novel Dy3+/Tm3+-doped phosphate glass for W-LED application has been prepared.•The glass has high thermal ...stability (90.48% of the initial intensity at 100°C).•Energy transfer efficiency from Dy3+ to Tm3+ is high (64.44%) compared to others.•These glasses have excellent CCTs, chromaticity coordinates, moisture-resistance.
Rare earth-doped glass is regarded as an excellent luminescent material and has been widely used in solid-state lighting. Here, the Tm3+/Dy3+ co-doped phosphate glasses revealed an increasing trend in density as the raising of Tm3+ contents, and the Urbach energies were 0.242∼0.374 eV based on transmission spectra. Under the 362 nm excitation, the white light with the chromaticity coordinates that were close to the value of standard white light was produced. The electric dipole-dipole interaction plays a major role in the energy transfer process from Tm3+ to Dy3+, and the glass exhibited a very high energy transfer efficiency of 64.44% according to the fluorescence spectra. Furthermore, the luminescent intensity of Tm3+/Dy3+ co-doped glasses at 150°C can still keep approximately 85.4% of its initial intensity and the glasses displayed excellent moisture-resistance (99.2%). Overall, the prepared Tm3+/Dy3+ co-doped glass exhibited potential applications in the field of W-LED and display devices.
Since 2014, PPP policy has been promoted rapidly in China. Based on the theory of policy innovation diffusion, this paper explores the formation mechanism of PPP spatial disequilibrium at the micro ...level using Chinese municipal-level panel data from 2014 to 2019. According to the research, the innovation diffusion of China’s PPP policy at the local-government level exhibits R-shaped non-progressive characteristics and is influenced by both internal and external factors. On the internal side, the debt pressure of local governments is an important determinant with an inverted U-shaped influence on PPP policy. On the external side, imitation and competition among neighboring local governments are the main external determinants. This spatial strategic interaction occurs not only in same-province regions with close proximity and similar economic development but also in different-province regions with close proximity. The above studies of er certain insights into optimizing the spatial distribution pattern of PPP and guarding against fiscal risks.
To address the problems of the difficult processing and internal microstructure disorder of porous bearing cages, Polyetheretherketone (PEEK) porous self-lubricating bearing cage material was ...prepared based on a fused deposition molding (FDM) process, and the porous samples were heat-treated on this basis, the research was carried out around the synergistic design of the material preparation, microstructure, and tribological properties. The results show that the pore size of the PEEK porous material prepared by the FDM process meets the requirements of the porous bearing cage; the samples with higher porosity also have higher oil content, and all the samples show high oil retention. Under dry friction conditions, the higher the porosity of the porous material, the larger the friction coefficient, and the friction coefficients of each sample after heat treatment show the same pattern; under starved lubrication conditions, the friction coefficient of the porous PEEK material decreased significantly compared to the compact PEEK material, showing a better self-lubrication effect, and the porous samples reached the best self-lubrication effect after heat treatment. The optimal process parameters were 60% mass fraction of NaCl, 40% mass fraction of PEEK, and the applied heat treatment process.
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