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ID:
073636
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| Publication |
2006.
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| Summary/Abstract |
By conscious design, reformers in China only gradually focused their efforts on expanding the role of markets for the allocation of goods and services in the economy. As a result, markets-especially in the agricultural sector-developed slowly. Throughout the 1990s there was a heated debate about the degree to which markets had emerged. The main goal in this paper is to bring together a number of simple and revealing facts on the emergence of China's markets. To do so we examine several sets of price data and analyze spatial patterns of market prices contours over time and text the extent to which market prices are integrated among China's regions. According to our analysis, we find that to a remarkable degree, agricultural commodity markets have emerged; price patterns look much like those in market economies in the rest of the world and prices are highly integrated across space.
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| 2 |
ID:
073637
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| Publication |
2006.
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| Summary/Abstract |
This study examines the determinants behind the restructuring of China's SOEs in the late 1990s. We have reached two major findings. First, we find that the degree of labor retrenchment is negatively related to enterprise performance, suggesting that poor performance is a major force driving labor restructuring. Second, we offer evidence that decisions on labor retrenchment in traditional SOEs are related to the local government's fiscal position and to local reemployment conditions for laid-off workers. In contrast, labor decisions in corporatized SOEs are not related to these two variables. Our results suggest that corporatized SOEs with partial private ownership may enjoy higher autonomy in labor decisions.
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| 3 |
ID:
073638
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| Publication |
2006.
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| Summary/Abstract |
By establishing an endogenous growth model with knowledge-driven R&D, this paper aims to investigate the relationship between international technology spillovers, the host country's absorptive capability and endogenous economic growth. The solution to the competitive equilibrium problem shows that long-run growth arises from improvements in absorptive capability and higher human capital stocks, while the relationships between openness, the technology gap and the steady-state growth rate are uncertain. Econometric estimates of China's economic growth are obtained using province level data covering the period 1996-2002. The estimates indicate that technology spillovers depend on the host country's human capital investment and degree of openness, and that FDI is a more significant spillover channel than imports.
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