  A one-dimensional model of interacting electrons with on-site $U$,
nearest-neighbor $V$, and pair-hopping interaction $W$ is studied at
half-filling using the continuum limit field theory approach. The ground state
phase diagram is obtained for a wide range of coupling constants. In addition
to the insulating spin- and charge-density wave phases for large $U$ and $V$,
respectively, we identify bond-located ordered phases corresponding to an
enhanced Peierls instability in the system for $W<0$, $|U-2V|<|2W|$, and to a
staggered magnetization located on bonds between sites for $W>0$, $|U-2V|<W$.
The general ground state phase diagram including insulating, metallic, and
superconducting phases is discussed. A transition to the
$\eta_{\pi}$-superconducting phase at $|U-2V| \ll 2t \leq W$ is briefly
discussed.
