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on China |
| By: | Olivier Darné; Jean-François Hoarau |
| Abstract: | In this paper we examine whether purchasing power parity holds in the long run in China for the period 1970:1 to 2006:5 from an alternative method relative to the previous studies. We underlined the effects of large, but infrequent shocks due to changes of Chinese exchange policy (undertaken since the China's foreign exchange reform) on the real exchange rate, using outlier methodology. We also show that there is no endency to the purchasing power parity in China to hold in the long run during this period. |
| Keywords: | Purchasing power parity; real exchange rate; unit root tests; outliers; renminbi. |
| JEL: | C22 F31 |
| Date: | 2006 |
| URL: | http://d.repec.org/n?u=RePEc:drm:wpaper:2006-18&r=cna |
| By: | Victoria Natalizio; María Isabel Negre; Ya Wen Teh |
| Abstract: | mediante una aproximación descriptiva a las inversiones provenientes de capitales extranjeros que hoy operan en China, el presente trabajo pretende ser un aporte para el conocimiento de uno de los tantos fenómenos que se desprenden de este nuevo posicionamiento internacional del gigante asiático, sin precedentes en su historia. |
| Keywords: | foreign investment, china, PBI |
| URL: | http://d.repec.org/n?u=RePEc:cis:asia00:020&r=cna |
| By: | Arnaldo Gonçalves |
| Abstract: | China has met largely these targets in the first third of the period monitored and has experimented since 2000 a growth of its GDP about 8 % en 2000, 7.5 % in 2001, 8 % in 2002 and 9.1 % in 2003, according with international data. Due to its large and stable population, its rapidly growing economy and military spending and capabilities China is increasly looked as a world power and by this fact raises contradictory perceptions in its neighbors, rivals and competitors. This ascent of China to a primary role in the next decades hoists many important questions. How the West will accommodate to this economic and political climb? What strategy China’s neighbors will choose: a “containment” approach or a friendly but prudent partnership? And, finally, how China will act internationally when becomes a geopolitical power capable of projecting its military and economic magnitude? |
| Keywords: | planned economy, china, economic growth |
| URL: | http://d.repec.org/n?u=RePEc:cis:asia00:019&r=cna |
| By: | Shulian Zhang (School of Economics and Finance, Queensland University of Technology) |
| Abstract: | The study on Chinese consumption behaviour under institutional transitions is significant from a theoretical as well as a policy perspective. Ignoring heterogeneity in consumption behaviour across regions may lead to a bias in estimation results when modelling a consumption function. This paper attempts to provide an alternative empirical study on Chinese consumption behaviour where panel data estimation approaches are employed to capture heterogeneities across regions. Our findings suggest that there are significant changes in both urban and rural households’ consumption behaviour during 1990s and rural households’ consumption is more volatile and sensitive to the changes in economic variables than their counterparts in China. |
| URL: | http://d.repec.org/n?u=RePEc:qut:dpaper:189&r=cna |
| By: | Leonardo Cembranelli De Aquino |
| Abstract: | The present study has as its objective to show the level of the economic development attained by the People’s Republic of China through analysis of statistical data in the term between 1978 and 2004. The study brings a brief historical about the Chinese society and explains concepts of economic growth, economic development,economic development according to the evolutionist theory, HDI and social development and International Trade policies. Following, we analyze statistical datafrom the country, in the light of theories mentioned throughout the study |
| Keywords: | China, economic development, International Trade |
| URL: | http://d.repec.org/n?u=RePEc:cis:asia00:005&r=cna |
| By: | Ho, Chun-Yu; Li, Dan |
| Abstract: | Regional inequality is severe in China since regional development is uneven due to various initial conditions and government policies. We employ unit root tests allowing for structural breaks to alternative inequality measures from 1952 to 2000. Empirical results indicate that (1) the regional inequality is trend stationary with structural breaks rather than follow a random walk. Thus, ignoring structural changes might induce incorrect inference and misleading policy implications; (2) the break points are associated with episodic events in Chinese economic history such as the Cultural Revolution and market reforms. It implies that the policies had a long-lasting and fundamental effect on the inequality. |
| Keywords: | Structural break; unit root; inequality; China |
| JEL: | R58 O15 C22 |
| Date: | 2007–02–13 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:1792&r=cna |
| By: | Langnan Chen; Steven Li; Yijia Chen (School of Economics and Finance, Queensland University of Technology) |
| Abstract: | This paper is concerned with some corporate governance issues related to newly listed firms in China based on a sample of 329 firms commencing listing on Shanghai Stock Exchange (SHSE) and Shenzhen Stock exchange (SZSE) during the period from 1998 to 2000. We first investigate the impact of ownership change due to stock market listing on corporate performance. We consider four aspects of corporate performance: profitability, sales, leverage and employee productivity. Our research results indicate that, on average, profitability, sales and employee productivity have improved from pre-listing to post-listing. We further investigate the impacts of state majority control, foreign ownership and regulation effects on corporate performance. Overall, this paper provides some new evidence on the listing effect, ownership structure and regulation effect on Chinese firms which will be valuable to the future reform of state owned enterprises in China. |
| Keywords: | State owned enterprise, corporate governance, and corporate performance |
| URL: | http://d.repec.org/n?u=RePEc:qut:dpaper:204&r=cna |
| By: | Gustavo Cardozo |
| Abstract: | El presente trabajo tendrá como objeto analizar el desenvolvimiento de la política exterior china en el ámbito asiático. Además, la nueva doctrina estratégica de Washington y su política sobre Asia y Corea Del Norte, son susceptibles de crear inconvenientes serios para los intereses estratégicos de Beijing. Se intentará dar un panorama de los cambios sufridos en las relaciones sino/norteamericanas por motivo del 11-S de 2001, fecha, en donde la República Popular China (R.P.Ch), pareció perder importancia antagónica para EE.UU. frente al terrorismo internacional. |
| Keywords: | china, asia, united states, strategy, foreign policy |
| URL: | http://d.repec.org/n?u=RePEc:cis:asia00:018&r=cna |
| By: | McKinnon, Ronald |
| Abstract: | For creditor countries on the periphery of the dollar standard such as China with current account surpluses, foreign mercantile pressure to appreciate their currencies and become more flexible is misplaced. Just the expectation of variable exchange appreciation seriously disrupts the natural tendency for wage growth to balance productivity growth and thus worsens the (incipient) deflation that China now faces. It could create a zero-interest liquidity trap in financial markets that leaves the central bank helpless to combat future deflation arising out of actual currency appreciation, as with the earlier experience of Japan. Exchange rate appreciation, or the threat of it, causes macroeconomic distress without having any predictable effect on the trade surpluses of creditor economies. |
| Keywords: | exchange rate, current account, China, Japan |
| JEL: | F31 F33 F42 |
| Date: | 2006 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:4619&r=cna |
| By: | Tue Gørgens (Australian National University); Xin Meng (Australian National University and IZA); Rhema Vaithianathan (Rhema Vaithianathan) |
| Abstract: | The Great Chinese Famine of 1959-1961 is puzzling, since despite the high death rates, there is no discernable diminution in height amongst the majority of cohorts who were exposed to the famine in crucial growth years. An explanation is that shorter children experienced greater mortality and that this selection offset stunting. We disentangle stunting and selection effects of the Chinese famine, using the height of the children of the famine cohort. We find significant stunting of about 2cm for rural females and slightly less for rural males who experienced the famine in the first five years of life. Our results suggest that mortality bias implies that raw height is not always a good measure of economic conditions during childhood. |
| Keywords: | famine, height, China, panel data, GMM |
| JEL: | C33 I12 N95 O15 |
| Date: | 2007–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp2543&r=cna |
| By: | Bulent Unel; Harm Zebregs |
| Abstract: | We use a recently developed non-parametric approach to analyze the variation in labor productivity growth across China's provinces. This approach imposes less structure on the data than the standard growth accounting framework and allows for a breakdown of labor productivity into capital deepening, efficiency gains, and technological progress. We find that capital deepening is the prime factor behind the change in the distributional dynamics of the labor productivity: on average capital deepening accounts for 75 percent of total labor productivity growth, while improvements in efficiency and technological progress account for 7 percent and 18 percent, respectively. We also find that while improvements in efficiency levels are higher in initially less productive provinces, relatively more productive provinces benefitted more from technological progress than less developed ones. |
| URL: | http://d.repec.org/n?u=RePEc:lsu:lsuwpp:2007-03&r=cna |
| By: | Carlos Moneta; Sergio Cesarín |
| Abstract: | China y América Latina. Nuevos enfoques sobre cooperación y desarrollo ¿Una segunda Ruta de la Seda?" es el título de la obra compilada por Sergio Cesarín y Carlos Moneta y publicada recientemente por el INTAL en su Serie de Estudios Especiales.La obra reúne diez artículos que exponen los lineamientos de política, enfoques, valores, ideas y visiones que pueden incorporarse como insumos en los procesos públicos de toma de decisiones, en la definición de estrategias de negocios y en la planificación de actividades de intercambio académico, científico, tecnológico y cultural. Además de los compiladores, contribuyen a la obra Manfred Wilhelmy von Wolff, Augusto Soto, Pámela Aróstica, Paulo Pereyra Pinto, Martín Pérez Le-Fort, Carla V. Oliva, Romer Cornejo, Severino Cabral Becerra Filho y Esteban Restrepo Uribe. |
| Keywords: | china, latinamerica, economic, technologic, cooperation, development |
| URL: | http://d.repec.org/n?u=RePEc:cis:ebook0:004&r=cna |
| By: | Xin Meng (Australian National University and IZA) |
| Abstract: | Under socialism it was neither possible nor necessary to accumulate significant levels of personal wealth. The acceleration of economic reform in the last decade, however, has brought dramatic increases in income and investment opportunities. Reform has also reduced social protections provided by the state welfare system. In response to these changes, between 1995 and 2002, urban average real household net total wealth increased by 24 per cent per annum. There is a concern, however, that those accumulating wealth are the economic and political elites while those unable to accumulate wealth are the most vulnerable workers who are losing social protection. Using Chinese urban survey data of 1995, 1999, and 2002, this paper investigates this issue. It is found that households with above average income have accumulated more wealth than their poorer counterparts. In addition, a large proportion of this wealth accumulation may be from non-earned sources, such as buying larger and better housing at highly subsidized prices. Furthermore, party members and their children have benefited a great deal from this fast wealth accumulation process. Although at lower rates, the poor and vulnerable have also been able to accumulate wealth. |
| Keywords: | wealth, distribution, China |
| JEL: | D31 I30 |
| Date: | 2007–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp2553&r=cna |
| By: | Gustavo Cardozo |
| Abstract: | La nueva coyuntura internacional planteará una diversidad temática en donde China, en proceso de desarrollo, deberá desenvolverse: la reforma de corte neoliberal; las experiencias y lecciones de la crisis financiera de Méjico; las relaciones entre la justicia social y el desarrollo económico; la reforma del sistema político; la integración económica latinoamericana; el Tratado de Libre Comercio del Norte (NAFTA) el Mercado Común del Sur (MERCOSUR) y el Área de Libre Comercio de las Américas (ALCA); las relaciones entre ALC y los EE.UU., Europa y Asia-Pacífico; los impactos de la crisis financiera asiática en la región; los conflictos de orden intra-estatal, la comparación de los modelos de desarrollo entre ALC y Asia oriental o la situación cubana (Post-crash soviético.) China logró fortalecer sus objetivos de influencia en zonas periféricas frente a los EE.UU. Los “márgenes ideológicos" creados en la puja Este / Oeste, serán elementos políticos utilizados para apoyar el debate crítico del comunismo tercermundista sobre los modelos y paradigmas prevalecientes allí durante décadas. Por su parte, dentro de la nueva estructura internacional, Latinoamérica debió tener en cuenta las oportunidades comerciales para equilibrar las relaciones asimétricas existente entre las regiones (evitando un nuevo esquema de relación Norte - Sur), en especial el caso de la Zona Económica China, cuya asimetría se profundizaría como consecuencia de los cambios cualitativos chinos y su ascenso dentro de la estratificación internacional de Estados. 3 Centro Argentino de Estudios Internacionales |
| Keywords: | China, economic development, latin america, ZEE |
| URL: | http://d.repec.org/n?u=RePEc:cis:asia00:001&r=cna |
| By: | Xin Meng (Australian National University and IZA); Robert Gregory (Australian National University and IZA) |
| Abstract: | During the Chinese Cultural Revolution many schools stopped normal operation for a long time, senior high schools stopped student recruitment for up to 6 years, and universities stopped recruitment for an even longer period. Such large scale school interruptions significantly reduced the opportunity for a large cohort of individuals to obtain university degrees and senior high school qualifications. More than half of this cohort who would normally attain a university degree were unable to do so. We estimate that those who did not obtain a university degree, because of the Cultural Revolution, lost an average of more than 50 percent of potential earnings. Both genders suffered reduced attainment of senior high school certificates and more than 20 per cent prematurely stopped their education process at junior high school level. However, these education responses do not appear to have translated into lower earnings. In addition, at each level of education attainment most of the cohort experienced missed or interrupted schooling. We show, however, that given the education certificate attained, the impact on earnings of these missed years of schooling or lack of normal curricula was small. |
| Keywords: | education, earnings, Cultural Revolution, China |
| JEL: | I21 J31 |
| Date: | 2007–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp2548&r=cna |
| By: | Jill Johnes; Li Yu |
| Abstract: | This study uses data envelopment analysis (DEA) to examine the relative efficiency of over 100 selected Chinese regular universities. Various models are developed to measure the research efficiency of these higher education institutions (HEIs) using data for 2003 and 2004. The findings show that the level of efficiency depends on whether or not a subjective measure of research output (based on experts’ opinions of the HEIs) is included as an output in the model. Mean efficiency is higher when the reputation variable is included (around 90%) than when it is not (mean efficiency is around 55% in this case). However, the rankings of the universities are remarkably insensitive to whether or not this variable is included. Bootstrapping procedures are used to find the 95% confidence intervals for the efficiencies, and indicate that the best and worst performing institutions are significantly different from each other; only the middle-performing 30% of HEIs cannot be distinguished from each other in terms of their performance. Further investigation suggests that regional location, source of funding and whether the university is comprehensive or specialist may all contribute to the observed differences in performance. The regional differences are consistent but not significant at conventional levels of significance; the efficiencies differ significantly by administrative type when the subjective measure of research output is excluded from the analysis; comprehensive universities consistently and significantly outperform specialist institutions. The possibility of regional differences in performance is particularly worrying since the already economically disadvantaged Western region may suffer a continued lag in development if its HEIs are less efficient than those in the better developed Central and coastal regions. |
| Keywords: | data envelopment analysis; efficiency measurement; Chinese higher education |
| Date: | 2006 |
| URL: | http://d.repec.org/n?u=RePEc:lan:wpaper:004216&r=cna |