P28 - Socialist Systems and Transitional Economies: Natural Resources; Energy; EnvironmentNávrat zpět

In recent decades, the cross-border flow of waste has become increasingly active globally, with existing research primarily attributing this trend to the pollution haven hypothesis. This study re-examines the drivers of global waste trade and explores their implications for sustainability. Using panel data from 117 countries between 1996 and 2020, we find that both developed and developing economies import waste products as resources. However, the resource hunting motive declines and shifts toward higher-value waste when importers adopt recycling policies. When developed exporters implement such policies, importers increase trade value due to lower matching costs. The pollution haven motive drives some waste exports from developed to developing economies, but trade value declines when destination countries strengthen recycling policies. This study deepens understanding of global waste trade and provides empirical insights for policymaking to better balance resource utilization and environmental sustainability.

This study constructs two eight-asset green-energy portfolios, featuring stocks from the U.S. and Europe, to assess which portfolio delivers superior risk-adjusted performance. The analysis utilizes advanced performance metrics, the Stutzer and Omega ratios, with the traditional Sharpe ratio serving as a benchmark. Portfolios are evaluated across both pre-crisis and crisis periods. The results reveal differences in the structures of the Sharpe and Stutzer portfolios, underscoring the Stutzer ratio's ability to improve portfolio performance. Additionally, the Omega portfolio enhances the analysis by allowing the selection of varying thresholds, offering greater adaptability to align with diverse investor preferences. When comparing the U.S. and European portfolios, the U.S. portfolio consistently demonstrates better risk-adjusted performance. This advantage stems from factors such as favorable market dynamics, supportive government policies, greater access to capital, advanced technological innovation, and effective corporate strategies.

Against the background of green development, green technology innovation is an important driving force for high-quality economic development. Countries are facing energy shortages, environmental deterioration and other issues that limit high-quality economic development by extending green technology innovation. The study aims to investigate the impact of green technology innovation and its spillover effect on high-quality economic development. For this purpose, the study applies panel data on 30 provinces in China from 2010 to 2019 to construct a spatial Durbin model. The study finds that green technology innovation in the region plays a positive role in promoting high-quality economic development. The findings show that green technology innovation in the Eastern Region could promote high-quality economic development. Nevertheless, the role of the Central and Western Regions is not significant and negative. Green technology innovation in the Central and Eastern Regions shows a significant positive role in promoting the high-quality economic development level of the surrounding areas. However, spillover effects in the Western Region are not obvious.