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| 1 |
ID:
178269
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| Summary/Abstract |
Unlike the conventional understanding of China’s outward foreign direct investment, we found that the pattern of compressed development better reflects China’s outward foreign direct investment in the 21st century. The compressed development of Chinese outward foreign direct investment is characterized by a much higher growth rate than that of earlier industrializers and greater structural changes in types of investment, investors and destination countries. These changes result in new challenges to the Chinese government in dealing with domestic and foreign actors. Nevertheless, these challenges also create incentives for the Chinese government to improve how it interacts with Chinese investors and regulates their investment behavior.
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| 2 |
ID:
054146
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| 3 |
ID:
179751
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| Summary/Abstract |
This paper studies the moderating effect of local government intervention on transforming feed-in tariffs and knowledge stocks into renewable energy technology innovation. We examine the key intervention measures for the wind energy sector, using provincial panel data in China over the period 2008–2017. Our results show that local government intervention factors, such as policy count in renewables and R&D expenditure, are significant drivers for technology innovation. However, local green fixed industrial investment has negative implication. Moreover, we find that increasing local policy counts in renewables and augmenting local R&D investment can buffer feed-in tariffs’ effectiveness on innovation performance. Expanding renewable policies, and increasing local fund on R&D program and green fixed industries may enhance the relationship between knowledge stocks and technology innovation. It is suggested that the provinces with over-reliance subsidies should put more emphasis on local renewable development policies and increase the level of R&D expenditure.
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| 4 |
ID:
077186
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| Publication |
2007.
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| Summary/Abstract |
Despite a series of revaluations, which started in July 2005, hot money has been sporadically sneaking into China in anticipation of further revaluations of the renminbi. In this paper we build a monetary model to show how anticipated revaluations lead to the instability of a pegged exchange rate regime. This model assumes current account convertibility and some degree of capital control, and fundamentally sound domestic policies and economy, as is the case in China. The model demonstrates that market-oriented interest rates can act as an automatic stabilizer to ease revaluation pressures, but cannot resolve them completely because the nominal interest rate has a zero nominal bound. Therefore, the official parity is difficult to defend and the revaluation expectations can be self-fulfilling, in the absence of external intervention. The empirical results of Granger causality tests are consistent with the main findings of our theoretical model. There are a number of policy intervention measures that can extend the life of a pegged exchange rate regime
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| 5 |
ID:
113570
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| 6 |
ID:
160035
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| Summary/Abstract |
The European Commission has developed a series of regulatory measures to introduce alternative energy technologies, including a binding target for a specified share of biofuel in petrol and diesel, in European Union (EU) member states. The instruments to achieve this goal include taxation, subsidies and legal restraints. Biofuel suffers from the problem of being uncompetitive, and the intervention addresses the price gap between conventional fuel and biofuel.
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| 7 |
ID:
136066
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| Summary/Abstract |
This study examines the relationship between the fiscal intervention of the government and regional income disparity in 14 major Indian states. The impact of decentralization on the regional disparity of these states is also examined. The findings suggest that both policy measures have reduced the level of regional disparity. This study has also investigated the impacts of policy measures on regional income disparity within the clusters of states of similar income levels. Results suggest that both types of policy interventions have reduced regional disparity in low-income states, whereas only fiscal intervention is found significant in reducing regional disparity in middle-income states. Surprisingly, no relation is found between regional disparity and the policy measures in high-income states.
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| 8 |
ID:
072165
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| 9 |
ID:
147500
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| Summary/Abstract |
In the present paper, the debate on China's growth sustainability is first revisited by highlighting the importance of total factor productivity (TFP). China's TFP performance is then assessed by applying the Jorgensonian aggregate production possibility frontier framework to the latest version of the China Industry Productivity (CIP) database. We find that of China's 8.9-percent annual GDP growth over the period 1980–2012, 7.0 percentage points (ppts) could be attributed to the growth of labor productivity and 1.9 ppts to the increase in hours worked. Nevertheless, the labor productivity growth is found to be heavily dependent on capital deepening (5.7) rather than TFP growth (0.8). Notably, the TFP growth turned negative over 2007–2012, which brings into question the sustainability of China's growth. Besides, industries that are less prone to state intervention show faster TFP growth than those controlled by the state. Incorporating the Domar aggregation scheme into our model, we further reveal that two-thirds of the TFP growth originates from within industries and the remainder is attributed to a net factor reallocation effect in which labor plays a positive role, whereas capital appears to behave irrationally. Finally, using a revised Maddison–Wu approach to address the potential flaws in official statistics, we arrive at an annual growth rate of 7.2 percent, or 1.7-ppts slower than the 8.9 percent obtained based on the CIP data reconstructed using the official national accounts.
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| 10 |
ID:
182820
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| Summary/Abstract |
The Wenchuan earthquake in 2008 devastated poverty-stricken areas in Sichuan Province, China. This paper examines the long-term effect of a disastrous earthquake on children's educational attainment using China's 2015 Population Census. Our cohort difference-in-differences results show that exposure to an earthquake has an unexpected significant positive impact on girls’ educational attainment in poor counties, but not on boys. We suggest that this surprising educational gain may be attributable to the reconstruction of schools and the reduction in school fees after disaster. In the long run, girls in poor affected counties are more likely to delay marriage, postpone childbearing and become self-employed compared with girls in poor unaffected counties. These findings potentially exhibit the unintended benefits in education from post-disaster interventions in poor areas.
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