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ID:
090813
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| Publication |
2009.
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| Summary/Abstract |
Our assessment of the competitiveness of the Hong Kong economy from various perspectives indicates that the overall competitiveness of Hong Kong economy has been improving during the past several years. However, from a longer term historical perspective, there are still a number of areas in which Hong Kong's competitiveness has been eroded relative to her main competitors in East Asia, especially in export sector. On the aggregate level, although Hong Kong's total factor productivity (TFP) growth rate is amongst the best performers in East Asia in the recent years, it has been adversely affected by the continuing relocation of Hong Kong's manufacturing production to the Mainland China. On sectorial levels, Hong Kong's competitiveness deteriorated in several important categories of goods and service exports. Overall, our study shows that the Hong Kong economy still maintains its resilience to outside shocks, nevertheless it needs to explore new areas to fuel its future growth.
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| 2 |
ID:
090792
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| Publication |
2009.
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| Summary/Abstract |
This empirical analysis examines the augmented Mankiw, Romer and Weil's model which considers both health and education in human capital in the framework of Chinese economy. We consider the relationship between per capita real GDP growth and the physical capital, human capital, and health investment in the production function. Panel data models are used in the estimation based on the provincial data from 1978-2005. The empirical evidence shows that both health and education have positive significant effects on economic growth. The results also show that the interaction of health and education stock will not reduce their impact on growth and there is perhaps a trade-off between two forms of human capital investment.
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| 3 |
ID:
154448
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| Summary/Abstract |
The impact of social capital on economic development has been broadly studied by scholars. However, research in the Chinese context is relatively rare. Drawing upon data from the China General Social Survey, our results suggest that the enhancing effect of social capital on total factor productivity is very limited in the case of China. The network dimension of social capital is significant only in pooled OLS estimations, and trust as well as the participation dimension of social capital exert no impact across all estimations. Our interpretation is that this is partly due to the fact that trust, values and norms formed in civil society are inherently difficult to transmit to the market sector. Besides, the impact of social capital on economic performance is undermined when physical capital plays a significant role in production. We therefore propose that the effect of social capital on economic performance is contingent on localized social and economic conditions.
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