|
|
|
Sort Order |
|
|
|
Items / Page
|
|
|
|
|
|
|
| Srl | Item |
| 1 |
ID:
159049
|
|
|
|
|
| Summary/Abstract |
In this paper, we developed a framework for assessing the quality of credit guarantee institutions and then applied the framework to a sample of guarantee companies in China. Our results suggest that whereas macroscopic environments significantly impact the credit guarantee sector in China, scale, experience, and potential compensatory risk are the most important indicators of competence or performance capability of individual credit guarantee companies. We find that the current situation of the credit guarantee industry in China is unsatisfactory. Well-performing companies are scarce and the gap between those ranking at the top and those at the bottom is significant.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2 |
ID:
159047
|
|
|
|
|
| Summary/Abstract |
Regional disparities that challenge the economy and public administration must be confronted by the governments and public in developing countries. As the extensive mode of economic growth has caused many problems in China, it is necessary to find other ways to promote the development of poor areas to narrow regional disparities in the country. This paper measures the equalization of public services and residents' living standards in China, based on a provincial panel data for the period 2001–2013, to analyze the impact of the equalization of public services on China's regional disparities. The empirical results, based on spatial econometrics models, show that the equalization of all types of public services can promote the regional equality of incomes and consumptions. There is also evidence suggesting that the regional disparities are affected by other economic and social factors.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
ID:
159058
|
|
|
|
|
| Summary/Abstract |
Is the establishment of new Confucius Institutes (CIs) in African countries motivated by resource seeking? We focus on uncovering new empirical evidence about the establishment of CIs, whether they are related to natural resources, and the extent to which the establishment of new CIs and Chinese foreign aid flows affect one another. Whereas Chinese aid flows do indeed appear to be empirically associated with African countries' natural resources, the evidence we report suggests that CIs are established based on a distinct set of motives. We find that CIs, Chinese foreign aid flows to Africa and natural resources have joint predictive power on the subsequent year's Chinese FDI outflows. CIs are not, however, positively associated with the subsequent year's aid flows. And aid flows are not positively associated with the subsequent year's expected number of CIs. We interpret this as evidence that CIs reflect an economically significant expression of Chinese soft power. The goals underlying the expression of this soft power are not subsumed by natural resource seeking and are not easily compressed to a single dimension. The data show that CIs and aid flows are not positive predictors of each other and are not subsumed (i.e., made to disappear) by the inclusion of controls for natural resources. Thus, the presence of a CI reveals independent, novel, and economically significant information about future trade flows that cannot be explained away by differences in resources or other control variables commonly found in empirical models of trade flows. The empirical evidence suggests that CIs are indeed an effective instrument for increasing China's soft power but that this soft power is not motivated solely (if at all) by resource seeking.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 4 |
ID:
159056
|
|
|
|
|
| Summary/Abstract |
This paper evaluates the effect of High Speed Rail (HSR) projects on the economic growth of targeted city nodes (HSR cities) in China using prefectural-level city data from 1990 to 2013. Employing a panel data program evaluation method devised by Hsiao, Ching, and Wan (2012), we construct hypothetical counterfactuals for per capita real GDP of HSR cities in the absence of their respective HSR projects using the outcomes in selected non-HSR cities. We find that the responses to HSR treatment are heterogeneous with regard to location, route, and region. The location-level impact ranges between 5% and 59% and is not temporary. HSR cities with positive effects concentrate along the Hu-Ning Segment, the Yong-Tai-Wen-Fu-Xia Segment, and within the Hunan province along the Wu-Guang HSR. These cities are mainly located in the eastern coastal regions of China, in core urban agglomeration regions that allow them to be transportation hubs. In general, the gain for local economies is greater for cities that are more industrialized, with more ability of the service sector to absorb enough labor, and with better supporting infrastructure. On the other hand, local protectionism hampers the development of HSR cities. We also show that at different project stages, HSR cities experience different gains.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 5 |
ID:
159055
|
|
|
|
|
| Summary/Abstract |
Although the pay gap between executives and employees has received considerable attention, its economic consequences remain unclear due to the unavailability of data. In this study, we examine the effects of the pay gap on firm innovation by using data from Chinese listed firms. We show that: 1) the first-order effect of pay gap on firm innovation is significantly positive, supporting the tournament theory; 2) however, when pay gap is relatively high, the importance of comparison theories increases; 3) high management pay premiums provide incentives for management to devote to innovation activities, while pay premiums for ordinary employees impede firm innovation; and 4) both the employee's human capital and state ownership play significant roles in the negative effects of employee pay premiums on firm innovation. Overall, we provide critical insights and a serious challenge for regulators in China. The policy implications of this study could be of interest to regulators who intend to encourage firm innovation.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 6 |
ID:
159048
|
|
|
|
|
| Summary/Abstract |
Comparative research suggests that poverty in childhood, and especially in the early years, impedes educational attainment. With longitudinal data from China, we estimate hazard models of dropping out of school in young adulthood with two dynamic measures of childhood poverty: poverty spell indicators that distinguish poverty in early childhood, middle childhood, and adolescence, and poverty indices that measure the depth of poverty and distinguish chronic from transient poverty.
Four main results emerge: 1) Children who experience spells in poverty leave school at a higher rate than others, even adjusting for poverty in later periods; 2) Transient poverty is more widespread, and shows a greater negative association with school-leaving, than chronic poverty; 3) Early childhood poverty shows greater negative associations with education outcomes than poverty in later periods; and 4) Girls may be more susceptible than boys to early poverty. We further test two possible mechanisms of impact: early nutrition poverty and school fees. While lower protein intake at an early stage of life is related to poorer educational outcomes in young adulthood, adjusting for nutritional deprivation does not attenuate the associations of early transient income poverty. Results do not suggest that cohorts that experienced school-fee abolishment policies experienced different poverty effects than other cohorts.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 7 |
ID:
159052
|
|
|
|
|
| Summary/Abstract |
Recent empirical studies suggest that the negative correlation between the quantity of children within a family and their educational attainment, which is widely observed in developed countries, is inconsistent or even rejected in developing countries. This paper aims to integrate these divergent empirical results into a unified theoretical framework by introducing scale economies into the classical model of Becker and Lewis (1973). As a result, the “anomaly” of an observed upward or an inverted U-shaped relationship can be expected as the scale economies effect dominates when there are few children in a family. Using data from the China's 1990 and 2000 censuses, this study further tests some hypotheses induced from the model. Educational attainment increases with sibling size at first and then drops. Children with one or two siblings achieve the highest education during the period our sample covers. The inverted U-shaped correlation is more robust for rural subsamples, for older cohorts and for economically underdeveloped regions and groups, which is consistent with the prediction of the model.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 8 |
ID:
159057
|
|
|
|
|
| Summary/Abstract |
The women's labor force participation rate in China has declined considerably during the last twenty years in urban China. Since the reforms started in the mid-1990s, publicly subsidized child care programs have decreased, and private care centers have increased. This might have increased the reliance of working mothers on informal child care and reduced their reliance on formal child care. Using post-reform data from the Project on Rural–Urban Migration in China (RUMiC) of 2008, I estimate the effects of formal and informal child care on the labor supply of mothers of young children. A recursive model with instrumental variables is employed to account for endogeneity. I find a positive and significant impact of informal child care in the form of grandchild care on the mother's labor force participation, while no significant effect of formal child care in the form of kindergartens or paid nannies. Considering recent tendencies in China to postpone retirement, one possible method to maintain mothers' presence in the labor market could be to reinforce the availability and affordability of formal child care.23
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 9 |
ID:
159044
|
|
|
|
|
| Summary/Abstract |
This article evaluates pension differentials between the private and public sectors over the lifecycle in urban areas in China. The aim of this study was to examine social equity in the face of increasing pressures to reform the current pension system. We developed a model to measure the protection and incentives offered by pensions in the private and public sectors. By incorporating educational cost, career length, retirement age, average years that a retiree receives the pension after retirement, growth rate of wages, interest rates and pension benefits into the model, we provided actuarial assessments. This study found that the current institutional arrangement of pensions in China results in negative incentives for workers in the public sector.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 10 |
ID:
159060
|
|
|
|
|
| Summary/Abstract |
We study the role of excessive employment as a selection criterion for initial public offerings (IPOs) in China. Using a large dataset of firms that are eligible for a public offering, we find that firms' that have more excess employment – that is, firms that hire too many people – are more likely to be selected for an IPO. This correlation is stronger for the private sector than for the state sector, suggesting that stock market capital is used to direct capital flows to private firms that comply with politicians' preferred labor practices. A third set of results corroborates the inefficiency of this selection rule by showing that firms with more excess labor underperform after the IPO. We conclude that a political system known for its interventionistic government policies uses its influence over the stock market to signal preferred employment practices.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 11 |
ID:
159043
|
|
|
|
|
| Summary/Abstract |
Using an original linked firm-level panel data from Chinese manufacturing firms over the period 2002–2007, this paper examines how outward foreign direct investment (OFDI) led productivity increase of parent firms (known as the own-firm effect) changes over firm heterogeneity. Conducting propensity score matching (PSM) techniques and differences-in-differences (DID) analysis, we find strong and robust evidence that the first OFDI promotes parent firm's productivity and this effect varies substantially with the firms' characteristics. In particular, firm's absorptive capacity is essential for the own-firm effect, and the absorptive capacity related with the product innovation is more important than that of the process innovation for the own-firm effect. Also, OFDI strategies for obtaining advanced technology and investing in developed countries significantly strengthen the own-firm effect, whereas, government supports have no significant impacts on the own-firm effect.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 12 |
ID:
159063
|
|
|
|
|
| Summary/Abstract |
This paper aims to study on the precise identification and targeting of immigrant poverty in the TGRR, with a multi-dimensional poverty line as a standard, which has transcended the traditional income poverty line. Then, we figured out the changing trend and the causes of immigrant poverty under the perspective of multidimensional poverty. Based on the dual cutoff method and regression analysis, the study results show that the discrepancy of poverty before and after immigration is significant, but the poverty problem of immigrants in the TGRR is still serious. The current multi-poverty incidence of immigrants is 30.15%, which means that there are still 2.3097 million people under poverty. The major causes of poverty in this region are poverty in assets, poverty in education and poverty in health. The poverty contribution rate of land scarcity has increased from 12.16% to 29.52% with the deterioration of land loss, which has a negative effect on immigrants' livelihood. The results reveal several outstanding poverty problems in this region: the coverage of social security of immigrants is far from ideal; There are still 12.75% of the impoverished immigrants without medical insurance and 11.36% without pension insurance; the percentage of female laborers, the education level of laborers, the percentage of agricultural expenditure and the percentage of medical expenditure have significant correlations with immigrants' poverty in this region. The paper argues that the precise identification and targeting of poverty reduction in China should be undertaken from a multidimensional perspective.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 13 |
ID:
159059
|
|
|
|
|
| Summary/Abstract |
The literature has emphasized the existence of a transition in the SES-obesity gradient when a country moves from low-income status to high-income status. As a middle-income country experiencing strong socio-economic changes, China provides a relevant case study. This article forms part of the literature on the impact of SES on body size and aims to clarify and update information about the relationship between income (one specific dimension of SES) and adult body size in urban China. To analyze this potentially complex relationship, we rely on semiparametric methods that enable us to leave the nature of the association between income and body size unspecified in the regression analysis. Empirical investigations conducted as part of this research are based on longitudinal data from the China Health and Nutrition Survey covering the period 1991–2011. Our results show that the income-body size relationship remains complex, gender-specific and very non-linear in urban China. We also provide evidence of the reversal of the income-body-size gradient, a reversal that is observed only for women for the period under study. Finally, we emphasize the specific features of the gradient for the two tails of the income distribution which could indicate that local deviations from the near-universal reversal path are possible.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 14 |
ID:
159051
|
|
|
|
|
| Summary/Abstract |
This research aims to understand how industrial characteristics in Chinese industrial sectors are related to and affect innovation activities. Using Heckman's two-step procedure, this study contributes to examine firms' innovation determinants with a framework that clearly distinguishes between the two steps of innovation model: innovation propensity (probability of being innovative) and innovation performance (patents and innovation sales). In particular, the moderating effects of industrial characteristics on the relationships between R&D intensity, financial incentives and innovation performance are discussed. The findings show that different industrial characteristics generate different impacts on innovation propensity and innovation performance. Firms in capital intensive industries and relative monopoly industries are more likely to innovate. The findings also show that Direct Government Subsidy does not contribute significantly to improve economical innovation performance of firms and Indirect Government Subsidy on innovative economic performance is easier to be influenced by industry characteristics, which have important potential policy implications to guide innovation activities for Chinese policy makers as well as for Chinese firms.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 15 |
ID:
159054
|
|
|
|
|
| Summary/Abstract |
Motivated by the institutional features of China's monetary policy, this paper aims at identifying the most data favored monetary policy rule for China within a dynamic stochastic general equilibrium (DSGE) model framework. In a canonical New-Keynesian DSGE model, we carry out a positive analysis by employing Bayesian methods to estimate three main categories of monetary policy rules, namely a Taylor-type interest rate rule, a money growth rule and an expanded Taylor rule with money. Based on China's quarterly data from 1996Q2 to 2015Q4, our estimation shows that the expanded Taylor rule obtains the best empirical fit to the data. Moreover, impulse responses and forecast error variance decompositions demonstrate that monetary policy rules with or without money provide very different implications for the policy behavior. Our results ultimately suggest that money has so far been more closely targeted than nominal interest rate and still plays an important role as a monetary policy target in China. Furthermore, a conventional Taylor-type interest rate rule is not good enough yet to describe China's monetary policy behavior.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 16 |
ID:
159050
|
|
|
|
|
| Summary/Abstract |
Despite its rapid economic growth, China has never managed to reduce its rural-urban divide with its reforms and marketization of the economy. The huge gap between urban and rural education is embedded in the disparity in educational investment, children's educational attainment, school quality and the returns to education. Migrant children move with their parents to urban cities to pursue a better education. However, the Chinese household registration system (hukou system) limits migrant children's rights and access to basic education in the cities. Will migrant children benefit from a better-quality education in the cities, or will they continue to be constrained by their hukou registration? Will the large-scale internal rural-urban migration provide the opportunity to reduce rural-urban education inequality in China, or will it merely create a new education-poverty trap? Based on publicly available large-scale survey data (RUMiC), this paper applies logistic regression and survival analysis to illustrate the new education-poverty trap imposed on migrant children by the institutional constraints and hierarchies in children's education, created by the Chinese household registration system in Chinese cities.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 17 |
ID:
159053
|
|
|
|
|
| Summary/Abstract |
This paper examines the effects of public subsidies across several dimensions of the innovation process and the implications for productivity. As an identification strategy, panel data is used to estimate a structural innovation model that controls for unobserved heterogeneity combined with matching techniques that help ensure comparability between subsidized and non-subsidized firms. The findings reveal that public subsidies reduce firms' economic performance in lower and higher technology industries despite promoting indigenous innovation in the higher technology industries. Policymakers may tolerate lower average efficiency if they expect that some of the state-backed firms will eventually become successful innovators that go on to generate significantly large social welfare payoffs. Although the findings do not support such an expectation, thus bringing into question whether the social payoff from China's so-called picking ‘winners' strategy justifies the cost.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 18 |
ID:
159045
|
|
|
|
|
| Summary/Abstract |
We explain the dynamics of China's intra industry trade (IIT) development spanning over three decades from the perspective of institutional changes. We present two hypotheses after reviewing series of policy documents and related organizational adjustment descriptions. First, we argue that China's pro-liberal reform in trade and FDI institutions helped trade to take off. Second, China is ambitious in acquiring advanced technology and building up a sophisticated system to promote technological capability. An analysis of Grubel and Lloyd IIT index on intermediate goods trade belonging to SITC 7 and SITC 8- the key components of regional value chain in East Asia- suggests that the structural changes taking place in China's intermediate goods trade are in agreement with the stated hypotheses. China's institutional arrangements also help to explain the factor behind China's success in becoming a major player in the regional production network in East Asia.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 19 |
ID:
159046
|
|
|
|
|
| Summary/Abstract |
We examine whether political ties (PTs) benefit VCs in China and find a positive relationship between PTs and successful VC exits. Our findings indicate that PTs are crucial for VCs to exit via Chinese mainland stock markets and M&As. The impact of PTs depends on the nature and compositions of PTs. We document that VCs with management-level PTs enjoy greater success than those with ownership-level PTs, whereas no significant difference between central and local government PTs on VC exits. Our results remain stable after controlling for selection bias, alternative measures for VC exits, and legal and institutional differences across regions.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 20 |
ID:
159062
|
|
|
|
|
| Summary/Abstract |
The security of property rights has been found to play important roles in various aspects of firm behaviors. However, its effects on firm survival have been largely neglected in previous research. Using annual data of Chinese manufacturing firms over the period 1998–2008, we analyze the link between property rights security and firms' survival probabilities, differentiating firms into stated-owned enterprises (SOEs) and non-SOEs, and considering whether the linkage evolves over time. Examining a wide range of specifications, we find that the protection of property rights, by limiting government intervention and promulgating laws and rules, is crucial for firm survival. Moreover, better security of property rights benefits non-SOEs more. We also find that the beneficial effects of secure property rights on firm survival are more pronounced for years after 2003 when China speeded up deregulation to comply with its WTO commitments and reform target to establish a modern system of property rights than for years before 2002.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|