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High-quality labor supply is inevitable to maintain sustainable and steady economic growth. This study mainly explores the impact of the social pension system on the health of human capital, and further explores its impact mechanism.

On the basis of the data from China Family Panel Studies from 2012 to 2018, this article uses the fixed effect model and the mediation effect model to empirically study the influence of the social pension scheme on the health of human capital and further explore its influence mechanism.

This study shows that the social pension scheme can significantly improve the physical and mental health of laborers, especially for low-income and agricultural groups. The implementation of the social pension scheme contributes to increasing medical services and reducing the labor supply for the benefit of human health capital. Therefore, the government should continue to expand the coverage of the social pension scheme and comprehensively improve the importance of human health capital on economic growth.

Medical costs and labor supply play a mediating effect in the relationship between social pension and rural labors' health status, which indicates that medical costs and labor supply level are still important factors affecting the health status of rural labor. There are essential factors affecting the health status of the rural labor force, and their role should be given more consideration in the process of system design and improvement.

The existing studies have more frequently studied the effect of the implementation of social pension schemes from the perspective of economic performance, but this paper evaluates the policy effect of social pension schemes based on the perspective of health human capital, which enriches research on health performance in related fields.

The study aims to empirically analyze whether financial literacy can improve the financial behavior of individuals in the context of emerging markets like India.

The authors use the nationally representative Financial Inclusion Insights survey conducted in India during 2018 for the analysis. The authors consider the financial literacy score based on the standard financial literacy quiz that includes understanding basic numeracy, interest rates, inflation and diversification concepts to study its effect on payment attitude, savings attitude and risk management behavior proxied by insurance uptake. Using an instrumental variable approach, the authors account for the possible endogeneity associated with the financial literacy variable.

The authors find that less than 9% of individuals have correctly answered questions capturing all four aspects of financial literacy. The analysis suggests that improvements in financial literacy scores indeed increases the likelihood of exhibiting superior financial behavior. The results are robust to alternative definitions of financial literacy, outcome variables and inclusion of additional controls. The authors find that financial literacy increases financial planning, and this, in turn, possibly improves financial behavior. The effects are prominent for those residing in the urban area and having confidence in their financial skills.

This is among the few studies that provide insights regarding how improvements in financial literacy can improve financial behavior in an emerging economy context. Moreover, this study highlights financial planning as a possible channel through which financial literacy affects financial behavior. Further, the heterogeneous effects based on the area of residence and own ability underscore the need for complementary policies.

The use of computers on the shop floor has been slight compared with their widespread acceptance at higher levels in the manufacturing environment. Today, there is an urgency to redress this imbalance by investing in modern production facilities, but progress is being restricted by the void between the operational requirements of the upper and lower levels. The Discrete Cell Controller (DCC) is considered to be capable of satisfying this role. This article considers the measures taken by a consortium of industrial and academic partners to determine the specification of a DCC and, in particular, identify the generic content.