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| 1 |
ID:
133271
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2014.
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| Summary/Abstract |
In light of the growth in vertically specialized in global trade, the present paper uses input- output tables from the World Input-Output Database to construct an environmental multi-regional input-output model to calculate the CO2 emissions embodied in China's international trade during 1995-2009. The advantage of this model lies in its incorporation of the re-exported CO2 emissions component embodied in trade and its ability to differentiate domesticsourced CO2 emissions from foreign-sourced CO2 emissions in trade. The results show that carbon emissions embodied in both China's exports and imports increased significantly during 1995-2009. One important reason for this is that the re-exported carbon emissions embodied in China's imported intermediate inputs increased substantially during this period. Our research reveals that accelerating the transformation of trade pattern and upgrading processing trade should be emphasized in the formulation of policy to prompt CO2 emissions abatement in China.
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| 2 |
ID:
133268
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| Publication |
2014.
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| Summary/Abstract |
The unemployment rate is a key indicator of labor market and economic performance. Based on a unique survey, we estimate the unemployment rate at 13.44 percent in 30 provincial capital cities in China in 2007, which is well above the officially announced registered unemployment rate. The discrepancy results from inaccuracy in the calculation of registered unemployment. The discrepancy is not stably evolving across regions or over the years, making it difficult to recover the true unemployment rate using a simple multiplier approach. We further investigate the sources of the discrepancy by examining the determinants of unemployment registration. It is evident that participation in certain public activities, which would facilitate the spread of knowledge related to job-searching and unemployment registration, encouraged unemployment registration. Social attention to government anti-unemployment programs also encouraged unemployment registration. These findings confirm the behavioral hypothesis that incomplete knowledge and limited attention can cause deviation from optimal choice. The policy implications of the findings of the study are discussed.
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| 3 |
ID:
133266
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| Publication |
2014.
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| Summary/Abstract |
China's state-owned banks have undergone radical changes over the past two decades, including partial privatization and listing in both the Hong Kong Stock Exchange and the Shanghai Stock Exchange. This paper evaluates the effects of these changes by analyzing the efficiency of Chinese banks over the period 1998-2012 using two frontier techniques and comparative analysis. The findings suggest that the performance and technical efficiency of the Big Four banks improved considerably after property rights reform, but this improvement is not sufficient to keep the banks at the production frontier. Tobit regressions confirm that static ownership effects are negative but that the property rights reform has had significant and positive effects on the technical efficiency of state-owned commercial banks. GDP growth and the financial crisis have had positive effects on the efficiency of Chinese banks, which is more significant for joint stock commercial banks than state-owned commercial banks. The results indicate the value of ownership reforms of state-owned asset management companies and insurance companies and the establishment of a countercyclical capital buffer.
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| 4 |
ID:
133270
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| Publication |
2014.
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| Summary/Abstract |
China's rapid economic growth has been facilitated by its large volume of rural to urban migration. China's projected future development, especially increasing urbanization, implies that such migration will further intensify. However, migration does not come without cost. There are concerns about the potential negative impacts of migration on children's care, education, and, in particular, the self-esteem of children left behind in villages where one or both parents have out-migrated to cities. In this paper, we employ unique survey data collected from Shaanxi Province, where more than 4700 ninth grade students from 36 rural junior high schools in five counties were surveyed in late 2011. The results show that having both parents migrate into cities significantly reduced children's self-esteem. The effects are also gender sensitive. Girls that had a father or both parents who had out-migrated were inclined to have lower self-esteem than boys. Moreover, our study findings indicate that parental migration decreased children's self-esteem more for individuals with initial low self-esteem.
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| 5 |
ID:
133267
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| Publication |
2014.
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| Summary/Abstract |
Using the Phillips-Loretan approach, this paper verifies the degree and speed of pass-through and rigidity of different interest rates in China, as well as the response of private loan interest rates to other interest rates during 2002-2012. The results indicate that the long-term pass-through from the interbank offered rates and deposit and loan interest rates to the treasury bond rate is incomplete, but that the long-term pass-through to private loan interest rates is overshooting. The long-term pass-through from the deposit and loan interest rates to the overnight interbank offered rate is incomplete, while that to the interbank offered rates of other maturities is complete. The short-term pass-through and adjustment speed of interest rates exhibit asymmetry. Therefore, before considering a full liberalization of interest rates, it is important to further enhance the competition of the financial system and the function of different interest rate systems, such as the interbank market and bond market.
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| 6 |
ID:
133269
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| Publication |
2014.
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| Summary/Abstract |
This study adds to the understanding of China's innovation prospects by examining how variations in institutional quality within China impact on the R&D efforts of firms located in different provincial regions. In the process of identifying the effect of institutional quality, the roles of other factors such as ownership types and market structures are revealed, which provides interesting insight into firms' R&D behavior. The key findings suggest that institutional quality positively affects the decision of firms to engage in R&D activities. Once firms start to engage in R&D, the subsequent expansion of firm-level R&D intensity depends on factors such as market structure. Therefore, strengthening domestic institutional quality is the first critical step towards the goal of building a knowledge-intensive economy in China. Efforts to nurture market development are also important for achieving this goal.
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