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The relationship between budget deficits and macroeconomic variables (such as growth, interest rates, trade deficit, exchange rate, among others) represents one of the most widely debated topics among economists and policy makers in both developed and developing countries. However, the purpose of this paper is to review the extensive literature to such a relationship, concentrating on theoretical debates and empirical studies, in order to derive substantive conclusions, which can be beneficial in the macroeconomics area; policy analysis; or in terms of constructing or developing a macroeconomic model for analyzing the impact of budget deficits on macroeconomic variables. The majority of these studies regress a macroeconomic variable on the deficit variable. These studies are cross-country and utilize time series data. In general the key outcomes from the studies presented in this paper indicated that both the method of financing and the components of government expenditures could have different effects. Therefore, it is crucial for the government to distinguish between consumption and investment expenditures especially when the government is in the process of evaluating the impact of fiscal policy on private investment and output growth or in the process of cutting expenditures to reduce the fiscal imbalances in the country. Even though the overall results from the empirical literature with respect to the impact of public investment on private investment and growth are ambiguous, the bulk of the empirical studies find a significantly negative effect of public consumption expenditure on growth, while the effects of public investment expenditure (such as on education, healthcare) are found to be positive although less robust. The key findings from these studies is important in particular for developing countries to be aware of the importance of government investment expenditures in the area of education, healthcare, infrastructure to long-term economic growth and the benefits from which are an important contributor to welfare and well-being. The key outcome from all of the studies presented in this paper while investigating the relationship between the budget deficit and current account deficit showed strong evidence in both developed and developing countries towards supporting the Keynesian proposition (conventional view) which suggests that an increase in the budget deficit would induce domestic absorption and, hence import expansion, causing a current account deficit. The key findings from the empirical studies investigating the relationship between the budget deficit and interest rates indicated strong evidence towards supporting the Keynesian model of a significant and positive relationship between budget deficits and interest rates. The major outcomes from the empirical studies examining the relationship between budget deficits and inflation showed strong evidence that the budget deficit financed through monetization and a rising money supply could lead to inflation.

This study examines the financial rights and responsibilities of China’s local villages and townships based on a field survey conducted in Xingguo County. This field study focussed on local revenues and expenditures from 2012 to 2014. Upon analyzing data from the survey, we noted numerous difficulties of local financial management due to a lack of well-configured financial authority and power among central and local governments. In addition, revenues and expenditures are unbalanced at the local government level in China. Rural financial management systems need to be improved, and the rural finance function should be strengthened.

The vehicle routing problem (VRP) and its variants are a class of network problems that have attracted the attention of many researchers in recent years, owing to their pragmatic approach to solving issues in logistics management. Most surveys/reviews of the extant literature often focus on specific variants or aspects of the VRP. However, a few reviews of the overall VRP literature are available. The focus of these papers is to identify which VRP literature characteristics are the most popular in recent studies. To this end, we analyze 229 articles published between 2015 and 2017. We provide a systematic literature review evaluating the Scenario Characteristics and Problem Physical Characteristics that are most frequently addressed by VRP researchers, the Type of Study and Data Characteristics that they address, the most cited works that constitute the theoretical pillars of the field, and details of three specific problem variants that have been studied extensively in recent years and their opportunities for future research.

In this paper, the results of a survey on capital structure decisions of Hong Kong listed firms are reported. It is found that Hong Kong firms conformed more to the "pecking order" principle than a target long term debt-equity mix in their financing decisions. Financial managers' preferences over alternative capital raising instruments are also investigated. The degree of information asymmetry and firm size are found to have impacts on the ranking of some factors governing capital structure decisions. However, signaling motivation does not play a role in managers' financing decisions.

Concept map has been advocated as an effective tool for teaching, learning, and assessment of conceptual understanding in science education. Although the term “concept map” might not be new to many Chinese mathematics teachers, few of them are familiar with its uses and fewer apply it in educational environments. How Chinese mathematics teachers feel about concept map and how they would use and incorporate it in teaching are issues of interest. This study investigated Chinese mathematics teachers' perceptions of concept map, and their incorporation of concept map in mathematics teaching through lesson plans and practical teaching. With brief introduction, both the prospective and in-service teachers were positive with the use of concept map and indicated a willingness to try it in their classroom teaching. But to actually apply concept map in practice, the teachers, especially the in-service teachers, were to a degree hesitant due to some practical reasons, such as curriculum schedule and pressure from exam. They needed more operational training on concept map to guide their trial and solid evidences to convince them the effectiveness of concept map. Successful initial experience seemed to be a key for teachers' willingness to use concept map in future teaching.