title: A thesis on green finance

authors: Xu, Danyang

subjects: Green finance

abstract: In recent years, green finance has received considerable attention as a key tool for addressing climate change and achieving global sustainable development. It plays a critical role in driving the global transition to a green economy, achieving carbon neutrality targets and advancing environmental governance. This thesis provides an in-depth exploration of the dynamic connectedness of green financial markets and their complex interactions with various types of risks, aiming to comprehensively understand their characteristics and behaviors under different market conditions. First, using advanced econometric techniques such as the Time-Varying Parameter Vector Autoregressive (TVP-VAR) model and wavelet analysis, the study reveals the relationships between green financial markets and key driving risks, including financial and climate risks, in the time and frequency domain. Second, the thesis investigates the connectedness mechanisms between green bond markets in the United States and China and other financial markets. The analyses also reveal the intrinsic nature of the two major green bond markets. Finally, the thesis examines the dynamic relationships between key environmental, social, and governance (ESG) markets and other sources of uncertainty. 
The findings reveal that financial risks are the primary drivers of connectedness in green financial markets, with significant impacts on long-term return connectedness, whereas climate risks, particularly physical climate risks, have pronounced short-term effects on volatility connectedness. Furthermore, this thesis highlights the different roles of US and Chinese green bonds in responding to financial crises and geopolitical conflicts (e.g., the COVID-19 pandemic and the Russia-Ukraine conflict). Green bonds in the US have demonstrated stable hedging capabilities, while Chinese green bonds have shown strong market resilience, driven by economic transition and policy support. The analysis of ESG investment markets shows that European markets dominate the global green financial system, characterized by high returns and strong risk mitigation capabilities, while ESG assets in emerging markets are more constrained by regional economic and policy environments. In addition, this thesis explores the potential of optimal portfolio strategies of green financial assets in risk diversification and asset allocation, with green bonds and ESG assets being particularly important in times of crisis. 
This work not only contributes to the theoretical understanding of the dynamic characteristics of green financial markets, but also provides practical insights for policymakers in designing effective green financial policies and for investors in optimizing asset allocation. By revealing the dynamic linkages of green financial markets, this study provides crucial empirical evidence and decision-making support for the sustainable development of global green financial markets. The findings of the thesis lay a solid foundation for future research on green finance and suggest novel solutions to address global climate change challenges and promote sustainable economic development.

text: A thesis on green finance In recent years, green finance has received considerable attention as a key tool for addressing climate change and achieving global sustainable development. It plays a critical role in driving the global transition to a green economy, achieving carbon neutrality targets and advancing environmental governance. This thesis provides an in-depth exploration of the dynamic connectedness of green financial markets and their complex interactions with various types of risks, aiming to comprehensively understand their characteristics and behaviors under different market conditions. First, using advanced econometric techniques such as the Time-Varying Parameter Vector Autoregressive (TVP-VAR) model and wavelet analysis, the study reveals the relationships between green financial markets and key driving risks, including financial and climate risks, in the time and frequency domain. Second, the thesis investigates the connectedness mechanisms between green bond markets in the United States and China and other financial markets. The analyses also reveal the intrinsic nature of the two major green bond markets. Finally, the thesis examines the dynamic relationships between key environmental, social, and governance (ESG) markets and other sources of uncertainty. 
The findings reveal that financial risks are the primary drivers of connectedness in green financial markets, with significant impacts on long-term return connectedness, whereas climate risks, particularly physical climate risks, have pronounced short-term effects on volatility connectedness. Furthermore, this thesis highlights the different roles of US and Chinese green bonds in responding to financial crises and geopolitical conflicts (e.g., the COVID-19 pandemic and the Russia-Ukraine conflict). Green bonds in the US have demonstrated stable hedging capabilities, while Chinese green bonds have shown strong market resilience, driven by economic transition and policy support. The analysis of ESG investment markets shows that European markets dominate the global green financial system, characterized by high returns and strong risk mitigation capabilities, while ESG assets in emerging markets are more constrained by regional economic and policy environments. In addition, this thesis explores the potential of optimal portfolio strategies of green financial assets in risk diversification and asset allocation, with green bonds and ESG assets being particularly important in times of crisis. 
This work not only contributes to the theoretical understanding of the dynamic characteristics of green financial markets, but also provides practical insights for policymakers in designing effective green financial policies and for investors in optimizing asset allocation. By revealing the dynamic linkages of green financial markets, this study provides crucial empirical evidence and decision-making support for the sustainable development of global green financial markets. The findings of the thesis lay a solid foundation for future research on green finance and suggest novel solutions to address global climate change challenges and promote sustainable economic development.

year: 2025-06-09

title: The classification of substance and behavioural addictions: A preliminary investigation

authors: McLaughlan, Andre David

subjects: pathological gambling

abstract: The term addiction has been used to refer to impaired control over substance use for several centuries however recently there has been a shift toward using this term in the context of non-substance use disorders, such as pathological gambling. A preliminary investigation was conducted in an attempt to clarify the most appropriate classification of 'behavioural addictions'. Participants with alcohol dependence (AD, n = 24), pathological gambling (PG, n = 20) and compulsive buying disorder (CBD, n = 14) completed an Addictive Disorder Questionnaire (ADQ); the Symptom Checklist 90 Revised (SCL-90R); Barratt Impulsivity Scale II; and substance specific adaptations of the Yale-Brown Obsessive Compulsive Scale (Y-BOCS). Although the AD group reported more severe addiction symptoms and had higher levels of depression and anxiety, there were broad similarities across the three disorders in relation to cravings, dyscontrol, impulsivity and obsessions. Despite the small sample size and the different recruitment strategies used across the groups, the findings from this preliminary study provide support for broadening addiction diagnostic definitions to include non-substance related disorders which in turn may contribute to the development of more efficacious treatments.

text: The classification of substance and behavioural addictions: A preliminary investigation The term addiction has been used to refer to impaired control over substance use for several centuries however recently there has been a shift toward using this term in the context of non-substance use disorders, such as pathological gambling. A preliminary investigation was conducted in an attempt to clarify the most appropriate classification of 'behavioural addictions'. Participants with alcohol dependence (AD, n = 24), pathological gambling (PG, n = 20) and compulsive buying disorder (CBD, n = 14) completed an Addictive Disorder Questionnaire (ADQ); the Symptom Checklist 90 Revised (SCL-90R); Barratt Impulsivity Scale II; and substance specific adaptations of the Yale-Brown Obsessive Compulsive Scale (Y-BOCS). Although the AD group reported more severe addiction symptoms and had higher levels of depression and anxiety, there were broad similarities across the three disorders in relation to cravings, dyscontrol, impulsivity and obsessions. Despite the small sample size and the different recruitment strategies used across the groups, the findings from this preliminary study provide support for broadening addiction diagnostic definitions to include non-substance related disorders which in turn may contribute to the development of more efficacious treatments.

year: 2012

title: Ha ora: Improving access to early diagnosis of lung cancer for Maori and rural communities. Understanding patient experiences in General Practice

authors: Lawrenson, Ross

abstract: There were two main objectives for this report. The first was to identify the barriers to early diagnosis of lung cancer experienced by Māori lung cancer patients and whānau. Second was to co-design a multi-pronged intervention alongside rural Māori communities to improve early diagnosis of lung cancer for whānau in their localities.
The team worked in the Waikato, Lakes, Bay of Plenty and Tairāwhiti districts of the Midland Region. Semi-structured interviews were carried out with 23 Māori lung cancer patients and whānau recruited through respiratory or cancer nurse specialists (CNSs) based at the hospitals of each district. Nine community hui (focus groups) and nine primary healthcare provider hui were carried out in five rural localities: Te Kuiti, Opōtiki, Te Kaha, Rotorua and Gisborne. Community hui included cancer patients, whānau, and other community members. Healthcare provider hui comprised staff members at the local primary healthcare centre, including General Practitioners and nurses. Study data were thematically analysed.
Findings of the study highlight:
1. Barriers in primary care, including symptom ambiguity, accumulating costs, barriers and enablers relating to GP – patient relationships
2. Barriers in secondary care, including a lack of access to diagnostic tests, long waiting times, barriers and enablers relating to communication between HCPs and patients.
3. The importance of whānau as carers and advocates for Māori patients on their lung cancer journey.
The interventions co-designed with each community included a Hā Ora website, a series of lung cancer awareness videos (entitled ‘wharo wharo wharo’), a kaiawhina training programme and a ‘pou pupuru oranga’ (cancer navigator).
We suggest strategies that aim to improve early diagnosis of lung cancer for rural Māori communities. We welcome your feedback to us regarding these recommendations.

text: Ha ora: Improving access to early diagnosis of lung cancer for Maori and rural communities. Understanding patient experiences in General Practice There were two main objectives for this report. The first was to identify the barriers to early diagnosis of lung cancer experienced by Māori lung cancer patients and whānau. Second was to co-design a multi-pronged intervention alongside rural Māori communities to improve early diagnosis of lung cancer for whānau in their localities.
The team worked in the Waikato, Lakes, Bay of Plenty and Tairāwhiti districts of the Midland Region. Semi-structured interviews were carried out with 23 Māori lung cancer patients and whānau recruited through respiratory or cancer nurse specialists (CNSs) based at the hospitals of each district. Nine community hui (focus groups) and nine primary healthcare provider hui were carried out in five rural localities: Te Kuiti, Opōtiki, Te Kaha, Rotorua and Gisborne. Community hui included cancer patients, whānau, and other community members. Healthcare provider hui comprised staff members at the local primary healthcare centre, including General Practitioners and nurses. Study data were thematically analysed.
Findings of the study highlight:
1. Barriers in primary care, including symptom ambiguity, accumulating costs, barriers and enablers relating to GP – patient relationships
2. Barriers in secondary care, including a lack of access to diagnostic tests, long waiting times, barriers and enablers relating to communication between HCPs and patients.
3. The importance of whānau as carers and advocates for Māori patients on their lung cancer journey.
The interventions co-designed with each community included a Hā Ora website, a series of lung cancer awareness videos (entitled ‘wharo wharo wharo’), a kaiawhina training programme and a ‘pou pupuru oranga’ (cancer navigator).
We suggest strategies that aim to improve early diagnosis of lung cancer for rural Māori communities. We welcome your feedback to us regarding these recommendations.

year: 2021