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No substantial evidence available in existing literature regarding the pattern of financial development, trade openness and foreign capital effect on renewable energy consumption. With this study, we tried to fill the gap by figuring out the answer to the question of whether the relationships between financial development, trade openness, capital flows and the renewable energy consumption is symmetric or asymmetric by applying Panel Non-linear Autoregressive Distributed Lagged from 1990 to 2017. Non-linear estimation confirms the long-run asymmetric relationships between financial development, trade openness, capital flows, and renewable energy consumption in the case of all three subsamples namely, low-income countries, middle-income countries, and upper-middle-income panel. Furthermore, in the short-run, the asymmetric relationship also confirms except in Lower-income countries. We, furthermore, investigate the directional causality with System-GMM specification under the error correction model. Findings unveiled the long-run causality in particular when renewable energy consumption treated as a dependent variable in the equation.

This study investigates the interaction between financial innovation, human capital development and economic growth in Bangladesh, India, Pakistan, Sri Lanka, Nepal, and Bhutan for the period of 1981Q1–2016Q4 by applying Autoregressive Distributed Lag (ARDL) and Granger‐causality under error correction model (ECM). Our principal finding confirms long‐run association among financial innovation, human capital development, and economic growth of selected South Asian countries. Also, we found both long‐run and short‐run elasticities from financial innovation and human capital development to economic growth is positive for each country. The study confirms that economic growth of sample countries would positively affect any development in financial innovation and increase in investment for human capital development in future. We also perform a Granger‐causality test to investigate directional causality, and we found bidirectional causality between financial innovation and economic growth, and human capital development and economic growth both in short‐run and long‐run, thus, supporting the feedback hypothesis. The study comes with two recommendations; first, the government should encourage financial innovation in the financial system and formulate fiscal policy in favour of adaption and diffusion of financial innovation. Second, public investment in human capital development should continue and made necessary initiative towards ensuring better implementation of undertaken measures in the economy.

Against the background of global warming, the climatic suitability for growing usual crops has been changing in certain regions. In this study, we focused on the Ningxia Plain in China, an important wine grape (Vitis vinifera L.) growing region. Based on the daily average air temperature data from 1981 to 2017, we investigated changes in the planting boundaries of different climate zones for wine grape before and after 1997 (when an abrupt change in regional air temperature occurred). The goal of this study is to provide scientific evidence for local agricultural authorities to make long-term climate change adaptation plans. We used the effective accumulated temperature as an indicator to evaluate the inter-decadal changes in the climate zones for wine grape. We concluded as follows: (1) since the abrupt change in regional air temperature in 1997, the subtotal area of climate zone I for wine grape was reduced by 31%, while the subtotal area of climate zone II (moved southward) and III (part of climate zone II in the northern part of the region turned into climate zone III) for wine grape was expanded by 7% and 24%, respectively; (2) during the 1990s, climate zone III for wine grape emerged in the study region; during the 2000s, the planting boundaries of climate zone II and III moved southward; during the period of 2011–2017, climate zone I (suitable) for wine grape mostly vanished in the Ningxia Plain; and (3) since the abrupt change in regional air temperature in 1997, most of the area in the Eastern Foothills of the Helan Mountains turned from climate zone II to climate zone III for wine grape, with the exceptions of Hongsipu district and the relatively high altitude area. During the 37 study years, most of the area in the study region remained as climate zone II for wine grape with a probability of 80%. Overall, the climate zones for wine grape in Ningxia, China have changed against the background of global warming. In particular, the wine grape varieties and wine types are expected to be changed in the Helan Mountains area in order to adapt to the ongoing climate change.

This paper sets out to explore whether the investor herding in the cryptocurrency market induces correlations in cryptocurrency returns using the methodology of Chang et al. (2000) and Galariotis et al. (2015) from a daily data sampling period of 3/30/2015 to 5/24/2019. The initial regression results show that the cross-sectional absolute deviation of return can only be explained by GSCI oil and gold index return, but no relationship exists between cross-sectional absolute deviation of return and other regression variables, such as return on CCi30, US equity risk premium and US/Euro exchange rate return. The herding regression results under normal market condition show that a strong tendency exists to herd on non-fundamental information that explains cross-sectional absolute deviation of returns. As such, cryptocurrency returns cannot be predicted on the basis of fundamental economic information (e.g., major macroeconomic announcements). Herding on non-fundamental information is found to be more pronounced during an upward-trending period of the market and other than upward-trending period. No signs of herding on fundamental information could be observed under other market conditions. Although the theory suggests that herding on non-fundamental information results in more efficient outcomes, the above findings do not encourage the diversification of traditional assets with cryptocurrency on the basis of low correlation. Since cryptocurrency lacks intrinsic value, the exchange is shown to provide a pseudo-efficient trading platform for speculative investors. Implications for future research are discussed.

This paper examines the presence of herding on foreign trading at individual stock level and portfolio level in the Colombo Stock Exchange as a response to a long-standing trading belief that investors mimic the trading strategies of foreign investors. The standard CSAD framework of Chang et al (2000) is extended replacing return on market portfolio with return on market foreign portfolio holding in the model specification. The standard CSAD specification is also used to identify the presence of herding towards the market under high market volatility, bullish market condition, high trading and transaction volume, domestic and global market crisis and up and down market conditions. Except for the evidence on herding towards the market under bullish market condition at portfolio level, the regression results under other market conditions do not provide reasonable evidence for the presence of herding on foreign trading or herding towards the market on average. Further, taking CSAD as a proxy for heteroskedastic residuals following the framework of Banz (1981), the capital asset pricing model of Black (1972) is used to test the specification of CSAD. The findings suggest that the form of herding accounted for by CSAD is a manifestation of residual heteroskedasticity.

Additional file 1: Table S1. Comparison of quantitative parameters with different thresholds between COVID-19 and non-COVID-19.

Background: Primary small intestinal epithelioid angiosarcoma (EAS) is a very rare tumor, which originates from endothelial cell with high mortality. Only 66 cases of small intestinal angiosarcoma including primary or metastatic were reported in the current literature. Histologically, hemangiosarcoma with epithelioid cell morphology is more rare, so we report a case of EAS which is easily misdiagnosed as poorly differentiated carcinoma. We also reviewed the literature about small intestinal angiosarcoma.Case presentation: The patient was a 60-year-old man, who initially presented black stool with no obvious inducement for 7 days, gradually feeling dizzy and fatigue for 3 days. Abdominal CT showed that the intestinal wall of the upper jejunum was thickened near the duodenum. After enhancement, the intestinal wall could be enhanced evenly. With the time going on, the contrast media could be concentrated gradually, and the active hemorrhage was considered. Enteroscopy revealed a 30 mm × 20 mm red polypoid mass in the jejunum. A biopsy of polypoid mass exhibited malignant tumor, histopathology considered poorly differentiated cancer. The patient subsequently underwent resection of the jejunal neoplasm. Immunohistochemistry vascular markers and cytokeratin were postive，but C-MYC protein was negative, and showed no amplification of C-MYC gene by Fluorescence in situ hybridization （FISH）. The histopathology with immunohistochemical and FISH studies confirmed the diagnosis of primary small intestinal EAS. 24 months after surgery, the patient had no evidence of recurrence and metastasis.Conclusion: Primary small intestinal EAS is a rare malignancy of endothelial origin with uncertain etiology and often has a poor prognosis.The abnormal cytokeratin expression in epithelioid angiosarcomas represents a potential diagnostic pitfall for pathologists. FISH detection of C-MYC gene amplification may have some value in the diagnosis of primary or metastatic small intestinal AS.An accurate pathological diagnosis relies on histopathology with immunohistochemical stains of endothelial markers. Surgical resection remains the best treatment option for small intestinal angiosarcoma.

With this study, we try to explore new evidence about financial innovation in small and medium enterprises (SME) financing impact on SME development in Bangladesh from 1985 to 2016. To bring insigh...

Exploring classroom teaching reform centered on student development is a fundamental requirement for deepening education and teaching reform in undergraduate education worldwide. Shanxi Normal Univ...

With this study, we try to explore new insights about the existence of an asymmetric relationship between financial innovation, banking sector development, and economic growth of Asian countries for the period of 1974Q1 to 2016Q4. In this study, we apply Autoregressive Distributed Lag (ARDL) bound testing to capture long-run association and nonlinear Autoregressive Distributed Lagged (NARDL) to capture the existence of an asymmetric relationship between studied variables. ARDL-bound testing confirms long-run cointegration and nonlinear ARDL confirms the existence of an asymmetric relationship between financial innovation, banking sector development and economic growth of Asian countries. For a directional relationship, we perform Granger-causality under error correction model. Study support feedback hypothesis between financial innovation and economic growth and banking sector development and economic growth both in short and long run. The study suggests, the government should encourage financial innovation in the financial system through technological advancement and institutional integration and formulated economic policy favor of banking sector development by allowing institutional development, enterprise risk management and encouraging healthy competition in the financial system.