|
|
|
Sort Order |
|
|
|
Items / Page
|
|
|
|
|
|
|
| Srl | Item |
| 1 |
ID:
090811
|
|
|
|
|
| Publication |
2009.
|
| Summary/Abstract |
This paper investigates the effect of agglomeration on foreign direct investment (FDI) location in China. We use different measures of agglomeration, and test both within and across region agglomeration effect. The results suggest that urbanization, foreign-specific agglomeration and industry diversity have positive impact on FDI location. Urbanization, foreign-specific agglomeration and industry specialization, also significantly promote industrial FDI. The results also suggest there exist both within and across region agglomeration effects. Other factors including market size, wage, education, road density, government policy and trade cost also have significant impacts on FDI location.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2 |
ID:
090812
|
|
|
|
|
| Publication |
2009.
|
| Summary/Abstract |
In January 2008, China adopted a new labour contract law. This new law represents the most significant reform to the legislation on employment relations in mainland China in more than a decade. The paper provides a theoretical framework on the inter-linkages between labour market regulation, option value and the choice and timing of employment. All in all, the paper demonstrates that the Labour Contract Law in its own right will have only small impacts upon employment in the fast-growing Chinese economy. Rather, possibly induced increasing unit labour costs may adversely affect employment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
ID:
090813
|
|
|
|
|
| Publication |
2009.
|
| 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.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 4 |
ID:
090796
|
|
|
|
|
| Publication |
2009.
|
| Summary/Abstract |
This paper proposes a new insight that the technology gap plays double-edged roles in the technology spillovers of foreign direct investment (FDI) through two channels, technology choice set and technology absorptive capability. Applying a multiple-threshold model, we examine the non-linear relationship between the technology gap and technology spillovers based on the provincial panel data of the Chinese industrial sector during 1993-2006. The empirical results support the hypothesis of two thresholds, which are 0.3071 and 0.5214 in terms of the technology gap respectively. The estimated thresholds indicate the sufficient absorptive capability is the premise for FDI technology spillovers. Moreover, it implies the marginal decrease of FDI technology spillover effects in the long run.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 5 |
ID:
090797
|
|
|
|
|
| Publication |
2009.
|
| Summary/Abstract |
China's export structure has shown a rapid shift towards more sophisticated industries. While some believe that this trend is a result of processing trade and foreign direct investment, the evidence is mixed. This paper examines variations in level of export sophistication across China's manufacturing industries. We find that an industry's level of export sophistication is positively related to the share of wholly foreign owned enterprises from OECD countries and the share of processing exports of foreign-invested enterprises, and negatively related to the share of processing exports of indigenous Chinese enterprises. Evidence from the relative export prices of Chinese goods, which measure within-product export sophistication, shows a similar pattern.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 6 |
ID:
090800
|
|
|
|
|
| Publication |
2009.
|
| Summary/Abstract |
Chinese authorities have traditionally relied mainly on administrative and quantitative measures in conducting monetary policy, with interest rates playing a less prominent role. Additional support for this view resides in a number of earlier studies that have found that the impact of interest rates on the real economy has been miniscule. However, taking into account numerous reforms in the financial sector and more widely in the Chinese economy, interest rates may have gained some influence in the last few years. It is important to study the effectiveness of interest rates also in light of future reforms of the monetary policy tools in China. Whereas administrative policy measures were effective in guiding the behaviour of state-owned enterprises, the authorities may need to increase the use of more market-oriented monetary policy tools as the share of the economy in private and foreign ownership grows. We use a vector error correction model to study, within a credit demand framework, whether the impact of interest rates in China has become stronger over the last decade. Our results suggest that loan demand has indeed become more dependent on interest rates, albeit the channel from interest rates to the real economy is still weak.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 7 |
ID:
090792
|
|
|
|
|
| Publication |
2009.
|
| 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.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 8 |
ID:
090803
|
|
|
|
|
| Publication |
2009.
|
| Summary/Abstract |
This paper examines the growth performance and income inequality in eight Chinese provinces during the period of 1989-2004 using the China Health and Nutrition Survey data. It shows that income grew for all segments of the population, and as a result, poverty incidence has fallen. However, income growth has been uneven, most rapidly in coastal areas, and among the educated. A decomposition analysis based on household income determination suggests that income growth can largely be attributed to the increase in returns to education and to the shift of employment into secondary and tertiary sectors.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 9 |
ID:
090808
|
|
|
|
|
| Publication |
2009.
|
| Summary/Abstract |
Bid-ask spread is a direct measure of information asymmetry. As such, it can be used to evaluate information efficiency. In this paper, we show that both the quoted and effective spreads on the Shanghai Stock Exchange are extremely high at the open, decrease over the trading day, and experience a small rebound at the close. The spread decreases with share volume, daily trades, and market capitalization, but increases with average trade size. We further examine the beta using the unbiasedness regression from Biais et al. [Biais, B., Hillion, P., Spatt, C. (1999). Price discovery and learning during the pre-opening period in the Paris Bourse. Journal of Political Economy, 107, 1218-1248] and find that intraday prices are efficient and unbiased for more liquid stocks. This suggests that liquidity prompts information-motivated trading, which, in turn, improves information dissemination. Moreover, our findings indicate that small and medium trades are more likely to facilitate the formation of efficient prices at the open and close of the market, while large trades play a more important role during the other trading periods.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 10 |
ID:
090793
|
|
|
|
|
| Publication |
2009.
|
| Summary/Abstract |
China exhibits above average savings and below average consumption as shares of total economic activity when compared with other countries. At the same time, to create more balanced growth at home and rebalance key bilateral trade and capital flow relationships, China's leadership is trying to increase domestic demand. To complement studies that investigate the high rate of savings in China, this study focuses on the variation in consumption as a share of GDP across provinces between 1979 and 2004. Drawing on well-established consumption theories and work done on savings behavior in China, this paper develops an empirical investigation of the variables hypothesized to influence the pattern of consumption across regions.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 11 |
ID:
090804
|
|
|
|
|
| Publication |
2009.
|
| Summary/Abstract |
While some workers in China attain senior professional level and senior cadre level status (Chuzhang and above), others attain middle rank including middle rank of professional and cadre (Kezhang). This aspect of the Chinese labour force has attracted surprisingly little attention in the literature, a fact which this paper aims to rectify. We define various segments of the urban population in work-active ages and use data from the Chinese Income Project (CHIP) covering eastern, central and western China for 1995 and 2002. For 2002, persons of high rank make up 3% and persons of middle rank make up 14% of persons in work-active ages.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 12 |
ID:
090798
|
|
|
|
|
| Publication |
2009.
|
| Summary/Abstract |
Is the real appreciation of the Chinese yuan essential for correcting global imbalances? The present study offers a new perspective to the debate by drawing upon the rich international experience embodied in World Bank's World Development Indicators database. We find that the price levels of China and the United States are both low relative to the world's average. Therefore, the discrepancy between the price levels of China and the United States has been, in fact, close to zero since 2002. The difference in per capita income can fully account for the price difference between China and the United States. However, the Balassa-Samuelson effect is not a reliable guide for projecting the trend of real appreciation. According to the experience of those economies that have experienced real currency appreciation against the US dollar in 1985-2005, the mode of faster wage growth and inflation is as common as nominal appreciation, far more common for economies with a low initial price level. We do not find empirical evidence to substantiate the claim that low price levels tend to cause external surpluses. But real appreciation has a powerful effect in boosting job creation in the service sector. Therefore, the real appreciation of the Chinese yuan would contribute to restructuring the Chinese economy towards a domestic demand-based growth track.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 13 |
ID:
090806
|
|
|
|
|
| Publication |
2009.
|
| Summary/Abstract |
The large imbalances in the current account positions of the US and the Asian economies are seen by most scholars as the main threat to an orderly development of the global economy. While the opinions on the most likely evolution of these imbalances and on their sustainability do differ across observers, ranging from catastrophic to rather optimistic views, almost all agree that some adjustment will have to take place in the near future, and that this adjustment will involve, among other things, a rebalancing of saving and demand across the globe. As an outcome of this process, China shall increasingly supplement the US in the role of engine of global economic growth.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 14 |
ID:
090801
|
|
|
|
|
| Publication |
2009.
|
| Summary/Abstract |
This paper investigates the relationship between self-employment and social networks in urban China, an economy rife with informational and institutional imperfections, under-developed financial markets, but a growing and important non-state sector. Having a social network can help the self-employed access supply and credit networks, and assist in navigating an uncertain institutional environment where permissions and licenses often require inter-personal relationships to facilitate and reduce the informational costs of enforcement by dealing with known persons. Thus, holding other productive and observable traits constant including attitude toward risk where possible, social networks are expected to be a significant correlate to self-employment which is borne out by the evidence. Examining three tranches of the self-employed (those who are self-employed, those who are self-employed as a second job, and a sub-sample who have experienced unemployment and then became self-employed), the paper finds that social networks significantly predict self-employment except for those who are working for themselves as a second job. Gender differences are also notable.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 15 |
ID:
090809
|
|
|
|
|
| Publication |
2009.
|
| Summary/Abstract |
China is by far the main target of antidumping (AD) litigation for most of its major trading partners. Recently, however, China itself has started using AD instrument intensively and was, in fact, the third leading country in initiating AD investigations between 2002 and 2004. This paper empirically investigates the impact of China's AD activities on trade by employing the system GMM estimator. The empirical results show that AD protection has significant trade depressing and trade diversion effects. These findings are consistent with Prusa [Prusa, T.A., 2001. On the Spread and Impact of Antidumping, Canadian Journal of Economics 34, 591-611.] and Brenton [Brenton, P., 2001. Anti-dumping policies in the EU and trade diversion, European Journal of Political Economy 17, 593-607] that investigate the trade effects of AD actions in the US and EU, respectively.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 16 |
ID:
090794
|
|
|
|
|
| Publication |
2009.
|
| Summary/Abstract |
Using a firm-level panel dataset which covers over 50,000 state-owned enterprises (SOEs) across China for the years 1998 to 2003, we attempt to answer the question of why some SOEs are privatized while others remain under state control. By applying a Heckman two-stage procedure, we investigate the causes that determine SOE privatization outcome. We find that the factors most conducive for privatization are the rise of competition, the increase of FDI concentration of both industries and provinces, and the hardening of SOEs' budget constraints. Moreover, it is shown that relatively better performing SOEs, measured by per employee value-added, profitability, and export propensity, are more prone to privatization. However, we should be careful in interpreting this result, due to the problem of selection bias. Results of the first-stage selection equation suggest that many small and non-performing SOEs dropped out of the sample, possibility due to privatization. What we can conclude is that, among the remainders, the better performing SOEs are more likely to be privatized.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|