Prof. Jinchao Wang, Economics and Management School of Wuhan University, China
Research Area: Development Economics, China's Economic Development Strategy and Issues, Economics Methodology, Basic Theory of Economics, Basic Theory of Marxism (Philosophy, Economics, Scientific Socialism)
Title：A Methodological Deliberation of Economics
The coexistence of competeing conomic theories in China is a huge disturbing factor for the progress of Economics of China, and the world. The core content of western mainstream Economics, which is also prevalent in China was created by several persons who lived about 100 years ago. Did they really have the potential to deal the real problems wo confront today? A methogological deliberation says no. The aim of the framework of supply-demand analysis and Macroeconomics are both too narrow.
Prof. Yusheng Jiao, Wuchang Shouyi University, China
Research Area: Evolution and Institutional Analysis
Title：Economic Policy Uncertainty, Geopolitical Risks and Ecological Footprint—Empirical Evidence from China
Economic policy uncertainty (EPU) reduces energy consumption and the use of pollution intensive commodities, which not only relieves environmental degradation, but also hinders investment in renewable energy and R&D, and leading to environmental degradation. Geopolitical risks (GPRs) result in a sharp drop in economic growth and energy consumption, and hinder environmental degradation. In addition, they can bring about a decrease in R&D, innovation and renewable energy, and will further exacerbate environmental degradation. By using the monthly data from Jan. 2000 to Dec. 2017 of China, a five-variable time varying parameter stochastic volatility vector auto regression model (TVP-VAR) of EPU, GPRs, industrial added value growth rate, crude oil growth rate and ecological footprint (EFOOT) is established. According to the results of the model, the conclusions can be drawn as follows : (1) EFOOT has a positive feedback on EPU in short, medium and long term, marking the investment effect of EPU is greater than consumption effect. (2) EFOOT has a negative feedback on GPRs in short, medium and long term. (3) The utilization characterized by the growth rate of industrial added value and crude oil has a negative impact on EFOOT. It is worth noting with the steady improvement of China's economy, the further improvement of economic strength and the high attention to environmental protection from 2015, the impact of EPU and GPRs on the EFOOT began to weaken.
Peter Sachsenmeier, Vice Chancellor and Deputy President, Hankou University, China
Title：Innovation and Sustainability: Implications for advanced management
Prof Peter Sachsenmeier is an international strategist, expert for complex technology management, an industrial innovator, and a visionary. He combines important roles in academia with outstanding appointments related to international industries. Professor Peter Sachsenmeier combines deep technologies and management knowledge associated with the digital transformation of all industries. In 2006, he was elected a fellow of the prestigious German National Academy of Science and Technology, acatech. He is the President of the International Innovation Center @Hankou University in Wuhan, China, and Vice-Chancellor of the University. His international innovation center covers the depth and width of modern industrial research and development. He is a well-known Industry 4.0 expert and a co-founder (in 2018) of the China-based International Manufacturing Alliance. He is a much sought-after advisor for governments, cities, companies, universities, and other organizations.
Prof.Tapas Mishra, Head of Department Banking and Finance, Director of the Centre for Empirical Research in Finance and Banking, Southampton Business School, University of Southampton, UK
Research Area: Econometric methods: Big Data; Macroprudential policy and stress test; Energy economics, Environment and sustainability; corporate finance, financial market volatility, business venturing and strategic entrepreneurship; Population and development
Title：What is Big about Big Data? Are the Current Methods Enough to Detect Patterns?
Lately, rigorous research has focused on the efficacy of big data in consistent inference making and using those inferences to predict future patterns. If big data is about making the greatest amount of information useful for decision making, then questions arise on whether ‘too much information’ is as equally bad as ‘too little information’ Where is the trade-off, if there is any? Further, even though researchers vouch for exploiting more data for best inference making, are the current methods available to us sufficient enough to detect real patterns in the data? In this talk I present the problem surrounding the problems with big data and discuss some theoretical ideas on how too much information is sub-optimal for decision making if the employed methods insufficiently capture the real dynamics in the data. For instance, if one has long time series data for n number of agents and for x number of variables, the ‘memory’ pattern in the data is often disregarded in favour of high-dimensional estimation involving Lasso to Support Vector Machines. But this ‘memory’ – which can be both spatial and temporal in nature, can drive the efficacy of choice of a specific mechanism or even better, to improve the existing technologies for estimation of a causal relationship.
2022 7th International Conference on Social Sciences and Economic Development (ICSSED 2022) http://2022.icssed.org/