Nowhere has the divide between advocates and critics of globalization been more striking than in debates over free trade and the environment. And yet the literature on the subject is high on rhetoric and low on results. This book is the first to systematically investigate the subject using both economic theory and empirical analysis. Brian Copeland and Scott Taylor establish a powerful theoretical framework for examining the impact of international trade on local pollution levels, and use it to offer a uniquely integrated treatment of the links between economic growth, liberalized trade, and the environment. The results will surprise many.

	The authors set out the two leading theories linking international trade to environmental outcomes, develop the empirical implications, and examine their validity using data on measured sulfur dioxide concentrations from over 100 cities worldwide during the period from 1971 to 1986.

	The empirical results are provocative. For an average country in the sample, free trade is good for the environment. There is little evidence that developing countries will specialize in pollution-intensive products with further trade. In fact, the results suggest just the opposite: free trade will shift pollution-intensive goods production from poor countries with lax regulation to rich countries with tight regulation, thereby lowering world pollution. The results also suggest that pollution declines amid economic growth fueled by economy-wide technological progress but rises when growth is fueled by capital accumulation alone.

	Lucidly argued and authoritatively written, this book will provide students and researchers of international trade and environmental economics a more reliable way of thinking about this contentious issue, and the methodological tools with which to do so.

Trade and the environment : theory and evidence

Environmental regulation, green technology innovation, and industrial structure upgrading: The road to the green transformation of Chinese cities

The Accumulation of Human and Nonhuman Capital, 1948-84

Multifractality is ubiquitously observed in complex natural and socioeconomic systems. Multifractal analysis provides powerful tools to understand the complex nonlinear nature of time series in diverse fields. Inspired by its striking analogy with hydrodynamic turbulence, from which the idea of multifractality originated, multifractal analysis of financial markets has bloomed, forming one of the main directions of econophysics. We review the multifractal analysis methods and multifractal models adopted in or invented for financial time series and their subtle properties, which are applicable to time series in other disciplines. We survey the cumulating evidence for the presence of multifractality in financial time series in different markets and at different time periods and discuss the sources of multifractality. The usefulness of multifractal analysis in quantifying market inefficiency, in supporting risk management and in developing other applications is presented. We finally discuss open problems and further directions of multifractal analysis.

https://iopscience.iop.org/article/10.1088/1361-6633/ab42fb/pdf

Multifractal analysis of financial markets: a review.

Cities: the core of climate change mitigation

Green total factor productivity of China's mining and quarrying industry: A global data envelopment analysis

The pass-through effects of oil price shocks on China's inflation: A time-varying analysis

In recent years, increasing attention has been given to the potential supply risks of critical battery materials, such as cobalt, for electric mobility transitions. While battery technology and recycling advancement are two widely acknowledged strategies for addressing such supply risks, the extent to which they will relieve global and regional cobalt demand-supply imbalance remains poorly understood. Here, we address this gap by simulating historical (1998-2019) and future (2020-2050) global cobalt cycles covering both traditional and emerging end uses with regional resolution (China, the U.S., Japan, the EU, and the rest of the world). We show that cobalt-free batteries and recycling progress can indeed significantly alleviate long-term cobalt supply risks. However, the cobalt supply shortage appears inevitable in the short- to medium-term (during 2028-2033), even under the most technologically optimistic scenario. Our results reveal varying cobalt supply security levels by region and indicate the urgency of boosting primary cobalt supply to ensure global e-mobility ambitions. 

/pdf/battery-technology-and-recycling-alone-will-not-save-the-15e9qb3e.pdf

Xuehong Zhu

Papers

Green total factor productivity of China's mining and quarrying industry: A global data envelopment analysis

The pass-through effects of oil price shocks on China's inflation: A time-varying analysis

Battery technology and recycling alone will not save the electric mobility transition from future cobalt shortages

Multiple impacts of environmental regulation on the steel industry in China: A recursive dynamic steel industry chain CGE analysis

Dynamic spillovers across oil, gold and stock markets in the presence of major public health emergencies