Cryptocurrencies, such as Bitcoin, have ignited intense discussions. Despite receiving extensive public attention, theoretical understanding is limited regarding the value of blockchain-based cryptocurrencies, as expressed in their exchange rates against traditional currencies. In this paper, we...

This paper examines the effect of foreign direct investment (FDI) on domestic innovation based on a data set covering the pharmaceutical industries across 29 provinces in the People's Republic of China (PRC) over the period 1998-2007. We show that there is a negative horizontal spillover effect...

Flexible and wearable energy devices have become an important support and indispensable product of the era of artificial intelligence and Internet of Things. Enzyme biofuel cells (EBFCs) have received much attention for their ability to convert the body's abundant biochemical energy into...

A large finance literature has documented an important role for aggregate credit supply. However, there has only been a small amount of research on the role competition plays in influencing the overall importance of credit. This paper explores the possibility that changes in credit market...

Financial regulators often focus on containing risks in financial services, while paying inadequate attention to regulation’s adverse effects on the underprivileged. This study examines how the upward mobility of borrowers was affected by China’s suppressive regulation of P2P lending in...