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For a sustainable landscape of local economies, many researchers have emphasized the importance of field-oriented differentiation in government policies. In particular, the Paris Agreement, based on the bottom-up approach, aims to maximize the participation of all economic agents, in contrast to the top-down approach of the Tokyo Protocol. In response to these global paradigm shifts in the local landscape, local governments in Korea have made significant efforts to adapt to sustainable development during the pilot phase of emission trading scheme (ETS), during the period from 2015 to 2020. This study evaluates the performance of these local government policies in the transition to a carbon-zero economy. Using the general non-radial directional distance function (GNDDF), we found that Gyeongsang Province demonstrated enhanced environmental total factor productivity (TFP) during the pilot project, whereas the Seoul metropolitan area lagged behind due to a lack of governance. As the economic center of Korea, Seoul showed poor environmental performance because of the arbitrary elimination of green belt areas and unchecked land development, resulting in environmental degradation, a trend common in many developing countries facing climate adaptation challenges. To address these urbanization issues, this study concludes that a balanced approach combining stricter regulations with market-oriented promotional incentives is essential for optimizing the transition of local economies to a sustainable landscape. [ABSTRACT FROM AUTHOR]

Like many countries, China's airports faced severe operational challenges after the COVID-19 outbreak. However, this predicament has been better mitigated by the Chinese government's strong support for the aviation industry. However, whether this supportive policy can ensure the sustainable development of the industry needs to be further evaluated. In order to better understand the role of government promotional policies, this paper attempts to explore the driving mechanisms behind the sustainable development performance of Chinese airports. Using the bootstrap Data Envelopment Analysis (DEA) methodology, this study evaluates the operational efficiency of 43 major airports over the period from 2015 to 2022. The efficiency scores are compared with the regional distributions of supply and demand factors, as well as the different sizes based on their annual passenger throughput. The overall operational efficiency showed a fluctuating trend of an initial increase followed by a decline due to COVID-19, with significant regional disparities in airport efficiency. Regional differences are evident, with the eastern region having the highest efficiency value of 0.719, while the central region has the lowest efficiency of 0.594. The findings show that airports in the eastern region perform the best due to the proactive market support with rapidly increasing logistics demand, while airports in the west and northeast regions supported by the strong promotional policies follow closely in terms of operational efficiency. In contrast, airports in the central region are much less efficient due to the lack of market or policy support. To analyze more precisely this conflict on the governance, further analyses show that airport size also has a significant impact on the operational efficiency. Larger airports are typically more efficient, while smaller airports are less efficient, implying the market demand is slightly better to promote the airport operational efficiency than the promotional policies. These findings help us to gain a deeper understanding of the mechanism in the sustainable governance behind the operational efficiency of airports and suggest that more market-oriented appropriate policy direction is required to enhance the competitiveness of the aviation industry. These findings offer valuable insights for policymakers and stakeholders of the developing countries as well, underlining the necessity not for supply-driven policies, but for the demand–pull efforts to optimize resource allocation and adapt to evolving market dynamics. [ABSTRACT FROM AUTHOR]

We propose the non-radial meta-frontier global Luenberger productivity index, which addresses the issues of technology heterogeneity, slack variable, and linear programming infeasibility, and decompose it based on the technology perspective and factor perspective. With the dataset of China's power plants from 2005 to 2015, we identify the effects of the multi-targets, including energy-saving targets and S O 2 reduction targets, in the 12th Five-Year Plan on green productivity encompassing all channels of effects. A 1 % increase in the average energy-saving target cumulatively increases green productivity by 0. 50 % , while a 1 % increase in the average S O 2 reduction target cumulatively decreases that by 0. 03 %. In all channels, the technology leadership effect and generation efficiency exhibit sensitivity. Differential effects of the multi-targets on state-owned versus non-stateowned plants imply significant differences in observed production technology. [ABSTRACT FROM AUTHOR]

This study explores the nexus between digital financial inclusion and household participation in commercial insurance, utilizing data from the Peking University Digital Financial Inclusion Index and the 2018 CFPS database. Using Probit and Logit models, our research uncovers significant regional and risk -preference variations, emphasizing the influence of governance mechanisms. The study underscores the pivotal role of digital participation in a sustainable governance mechanism in shaping financial behavior, as well as the importance of advocating for regulatory interventions, enhanced financial literacy, and infrastructure development to foster equitable insurance access. Moreover, positive determinants, such as education level and social insurance participation, are identified, while discretionary spending emerges as a barrier. This study advocates for expedited digital financial inclusion initiatives to increase financial literacy with strengthened regulatory oversight and governance mechanisms which would ensure sustainable regional development and insurance market resilience. [ABSTRACT FROM AUTHOR]

Energy and environmental studies (E&E) have faced a significant turning point due to the lack of reliability of the existing models, as well as the lack of policy governance. Most papers in E&E have adapted data envelope analysis due to its popularity, which is a result of its structure of having multiple inputs and outputs. However, due to its crucial weakness in statistical reliability, diverse new methodologies to gain better reliability have been developed, such as difference-in-difference and computational general equilibrium models, but they are still do not popular because the world has not shown significant progress in the abatement of carbon emissions. This comes not only from the lack of appropriate, precise research models, but also from a worldwide lack of governance. Most countries advocate for the necessity of E&E policies, yet their policies alone are not enough for sustainable performance, due to the lack of reliability and/or weakness of public–private partnerships. This Special Issue shall examine all of these new challenges to the methodologies, as well as the implications and suggestions arising from their empirical results. [ABSTRACT FROM AUTHOR]