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| 1 |
ID:
089967
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| Publication |
2009.
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| Summary/Abstract |
The development of China's iron and steel industry (ISI) is an important indication of China's industrialization. This paper analyses the industry from the perspectives of historical retrospect, international comparison and sustainable development. We find that China's ISI has made huge progress at the technical level. During the same period of time its over-consumption of resources and impact on the environment has dropped. However, compared with other main developed steel producers, there is still a big gap. Besides, its openness is still much lower than those of other countries.
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| 2 |
ID:
089971
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| Publication |
2009.
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| Summary/Abstract |
This paper contributes to the pool of studies of rural underemployment and revisits a number of estimates of surplus agricultural labour in China. The study is devoted to the conceptualization, identification and measurement of surplus at regional, provincial and national levels by a stochastic frontier functional specification. The analysis indicates that the existing size of agricultural surplus labour is still significantly large with the continued practice of the household registration system and China's WTO membership.
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| 3 |
ID:
089969
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| Publication |
2009.
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| Summary/Abstract |
This study looks at the time-varying nature of systematic risk in the Greater China equity markets. The Shanghai and Shenzhen markets both have a low average systematic risk when measured against the world market. The short outbursts in systematic risk for these two markets seem to be directly related to policy shifts. The Hong Kong and Taiwan markets are more integrated with world markets and they show signs of large variations in systematic risk over time. Furthermore, conditional betas in the Shanghai and Shenzhen markets are stationary, while the Hong Kong and Taiwan betas are integrated of order one. In addition, long memory tests show that all four markets exhibit a long-run dependence in their conditional betas. While the two mainland China market betas are covariance stationary, the Hong Kong and Taiwan betas are not.
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| 4 |
ID:
089972
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| Publication |
2009.
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| Summary/Abstract |
This study examines the effect of own income versus reference group income and the subjective factors considered important in a job for a sample of off-farm migrants in China. We find that own income has a positive effect on job satisfaction while the effect of reference group income is gender specific. We find evidence that males experience a tunnelling effect (higher income co-workers increase their job satisfaction) while females experience a jealousy effect (higher income co-workers lower their job satisfaction). We explain this result in terms of men reacting more positively in competitive environments and that, in China, males have better prospects for promotion. We find that compared with employees in western countries, off-farm migrants in China place much more emphasis on income and less importance on collegiality and job stability.
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| 5 |
ID:
089973
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| Publication |
2009.
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| Summary/Abstract |
In this paper, an economy means a national economy; an economy's relative steady state means an economy's steady state of per-capita output relative to the mean of those of a broad set of economies. This paper provides a method used not only to get the path of an economy's relative steady state, but also to assess whether an economy's relative steady state changed between two given periods and whether an economy's relative steady state in a given period differed from another economy's in the same or a different given period. This paper also shows the paths of relative steady states of six economies (China, India, South Korea, Taiwan, Japan and USA) using the estimates of their relative steady states in four successive periods (1960s, 1970s, 1980s and 1990s). A comparison of the paths gives valuable information.
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| 6 |
ID:
089970
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| Publication |
2009.
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| Summary/Abstract |
With the rise of the private sector in rural China, power has been shifting from the hands of local government officials to the hands of entrepreneurs. In this situation, economic theory offers two opposing predictions regarding how local governments will react to the attrition of power: the economic losers hypothesis (local governments will resist change because it threatens their economic rents) and the helping hand hypothesis (incentives of local government are aligned with the change, limiting resistance). We econometrically test the two hypotheses using a nationally representative sample of data on almost 2500 villages in rural China. Our findings provide strong support for the economic losers hypothesis - local governments resist competition that emerges with the rise of private firms using discriminatory regulation. Our findings suggest that entrepreneurial policies that encourage an impartial regulatory environment for different types of enterprises in rural China may have long run efficiency implication for China's economy. However, left on their own, local governments may not have an incentive to promote such reforms.
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