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We examined the impact of contractual arrangements on the relationship between physical and formal financing under a theoretical analytical framework of "contractual arrangement-prestige channel-financing structure," based on the survey data of rice growers in Jiangsu Province, China. We found that physical and formal financing have different relationships. Specifically, though they present a strong substitutability under oral contractual arrangements, they may complement each other under formal contractual arrangements through the prestige channel. Therefore, the government is suggested to give farmers preferential options by encouraging or supporting physical financing, rather than replacing or weakening it with government-led financial support policies. [ABSTRACT FROM AUTHOR]

To better understand the relationship of the urban, economic, and energy systems in Jiangsu, the most well-developed province in China, the nexus of urbanization, energy consumption, and economic growth is explored. Autoregressive distributed lag (ARDL) bounds testing is applied to examine the cointegration relationship of the variables. After confirming the long-run equilibrium among the variables, the short-run and long-run coefficients are estimated by ARDL error-correction model (ARDL-ECM). We find that Jiangsu is an energy-dependent economy at the present time while urbanization has become a growth engine for her economic development. Suggestions for reducing energy usage while keeping the economy growing at a proper speed during urbanization are also presented. [ABSTRACT FROM PUBLISHER]