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ID:
088465
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2009.
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| Summary/Abstract |
Theories of overseas investment and forms of internationalisation are reconsidered in the face of two exploratory, 'critical instance' case studies collected in China from Lenovo and BOE. The two cases tentatively suggest refinements to conventional OFDI theories that see internationalisation in two important MNEs from China as being driven by factors such as ownership advantages and low labour costs at overseas locations. In terms of entry modes, it would appear that latecomer multinationals from emerging economies may aim to build global strategic linkages, seek new markets and obtain advanced technology, through foreign ventures that are accelerated quickly through entry modes towards acquisitions.
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| 2 |
ID:
088463
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| 3 |
ID:
191148
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| Summary/Abstract |
We build a simple overlapping generation model to investigate the effect of life expectancy on the real exchange rate where fertility is chosen endogenously. The model reveals that, although the overall effect of life expectancy on the real exchange rate is not certain, longer life expectancy tends to cause the real exchange rate to depreciate by reducing fertility. Fertility thus serves as a mediator in the effect of life expectancy on the real exchange rate. Evidence from 148 economies (1980–2018) shows a statistically significant and robust negative relationship between life expectancy and the real exchange rate. It is estimated that a 1 year increase in life expectancy is associated with a 1.5 percent depreciation in the real exchange rate. The evidence also confirms the mediated effect of fertility. The mediated effect that fertility exerts accounts for 30 percent to 50 percent of the total effect, depending on the real exchange rate index used.
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| 4 |
ID:
088492
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| Publication |
2009.
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| Summary/Abstract |
The present paper uses the model-dependent and the model-independent approach to measure the RMB exchange market pressure (EMP) and the central bank's intervention using monthly data from January 1999 to June 2008. It is determined that the RMB has been under great appreciation pressure over the past decade. However, the pressure has been weakening since 2005. The two approaches provide significantly different results in terms of the estimated RMB EMP indices and the estimated central bank's interventions. The differences may lead to different predictions of potential currency crises. According to the estimation of the RMB EMP, and based on the model-independent approach, the paper shows that China has been under threat of an appreciation currency crisis since 2008. Therefore, China should adopt a more flexible exchange rate regime to prevent a potential crisis.
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| 5 |
ID:
108128
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2011.
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| Summary/Abstract |
This paper focuses on the relationship between technology spillovers in the context of the evolution of China's regional industrial structure. Based on a theoretical model, we have formally shown the impact of the evolution of the regional industrial structure and have also empirically tested technology spillovers for the period 1991-2007 in the context of the evolution of the regional industrial structure in China. The findings provide an important theoretical and practical basis for the government to formulate regional economic policies and industrial development strategies.
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