| Srl | Item |
| 1 |
ID:
143557
|
|
|
|
|
| Summary/Abstract |
Since the 1990s China’s development of a market-oriented economy and its engagement with globalisation have given it a role as the primary export platform of a globalised Asian economy. This has not only promoted the exports of capital and intermediate goods of the other leading Asian economies, but has also stabilised the fluctuations of the Asian economy and deepened the regional production networks in the US-dominated global economic system. As China is entering an economic ‘new normal’, its economic structure and growth pattern will experience a period of transition. Thus its role in the Asian economy and the global economic system will change. China’s new role as a market provider for the final consumer goods from the region might increase. China’s efforts to reform its domestic economy and develop regional economic cooperation arrangements will helpful in accomplishing this role change, but various uncertainties and contingencies might continue to pose obstacles for this process.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2 |
ID:
163520
|
|
|
|
|
| Summary/Abstract |
We provide the first causal estimate of the aggregate effect of the 2013–2017 Clean Air Action, one of the largest and most recent environmental programs in China, on the growth of the manufacturing industry. Using a quasi-experimental approach, we find that the Clean Air Action significantly reduced the manufacturing output in the Beijing-Tianjin-Hebei region, which was subject to the most stringent air pollution regulation, by 6.7% during its first two years of implementation. The losses add up to 408.7 billion yuan (2013 price level), equal to 6.5% of the regional GDP in 2013. The action slowed the growth of manufacturing in Hebei and Tianjin by 9.6% and 5.9%, respectively. We find no evidence that it caused a significant reduction of manufacturing output in Beijing. The heterogeneous treatment effects can be explained by the difference in industrial structure between Beijing, Tianjin, and Hebei. Our analysis empirically suggests that the Clean Air Action helped drive the structural change of the Chinese economy by substantially suppressing “dirty” manufacturing sectors.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|