|
on China |
| By: | Alberto, Gabriele; Francesco, Schettino |
| Abstract: | This paper analyzes ChinaâÃÂÃÂs and VietnamâÃÂÃÂs performance in reducing under-five child mortality in a comparative perspective. Under the market socialist model, both countries achieved very high rates of GDP growth, but income distribution and the provision of key public services deteriorated. As a result, child mortality reduction in China and Vietnam was only partially satisfactory. However, although the former grew faster and is more economically developed, VietnamâÃÂÃÂs record in this area was markedly better than ChinaâÃÂÃÂs. We show that this apparent paradox is due mainly to two reasons. One is related to the relative status of women, which is better in Vietnam than in China. The other stems from the fact that the perverse side-effects of market-oriented reforms (such as worsening income distribution and degradation of essential public services) have reached a more advanced and alarming stage in China than in Vietnam. |
| Keywords: | Child Mortality; China; Vietnam; Socialist Market; Cross Country analysis |
| JEL: | I12 P21 I38 O21 |
| Date: | 2006–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:3987&r=cna |
| By: | Tomer Shachmurove (Social Science Computing Center, University of Pennsylvania); Yochanan Shachmurove (Department of Economics, University of Pennsylvania and The City College of The City University of New York) |
| Abstract: | This paper utilizes Vector Auto Regression (VAR) models to analyze the interdependence among exchange rates of twelve Asian-Pacific nations, Australia, China, Indonesia, Japan, Malaysia, New Zealand, Philippines, South Korea, Singapore, Taiwan, Thailand, and Vietnam. The daily data span from 1995 to 2004. It finds strong regional foreign exchange dependency, varying from 32 to 73 percent. This network of markets is highly correlated, with shocks to one reverberating throughout the region. Despite the linkages of the Chinese exchange rate to the United States dollar, the Chinese foreign exchange is not as independent with respect to its South-Asian neighbors as previously thought. |
| Keywords: | : Exchange rates, Asian- Pacific region, Australia, China, Indonesia, Japan, Malaysia, New Zealand, Philippines, South Korea, Singapore, Taiwan, Thailand, Vietnam, Correlograms, Impulse Responses, Variance Decompositions, Interdependence |
| JEL: | F0 F3 G0 C3 C5 E4 P0 |
| Date: | 2007–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:pen:papers:07-019&r=cna |
| By: | Jayanthakumaran, Kankesu and Lee, Shao-Wei (University of Wollongong) |
| Abstract: | This paper examines the association between government policy interventions, Foreign Direct Investment (FDI) and exports in Taiwan and China by applying the LP (Lumsdaine and Papell, 1997), approach allowing two endogenous structural breaks. This paper further explores the cointegrating relationship between FDI and exports in Taiwan by using the Johansen and Juselius (1990) approach and causal relationships between FDI and exports in both Taiwan and China by using the Granger causality tests respectively. We found that significant trend breaks in the FDI and export time series detected in both countries coincided with extensive government interventions, mainly in the form of Export Processing Zones (EPZ), encouraging FDI during a transition period from import substitution to export orientation. The results emerging from our research indicate no long-run cointegrating relationship in Taiwan and one-way causal relationship flows from exports to FDI in China and FDI to exports in Taiwan. The growing fear is that the World Trade OrganisationâÃÂÃÂs (WTO) involvement in deregulating EPZs may narrow the differences between the zones and the rest of the economy and prevent new firms from entering the zones. The EPZs may no longer be the transitional strategy for poor/developing countries. |
| Keywords: | FDI, Exports, EPZ, structural breaks, causality, East Asia |
| JEL: | C22 F21 R58 |
| Date: | 2007 |
| URL: | http://d.repec.org/n?u=RePEc:uow:depec1:wp07-03&r=cna |
| By: | Arkes, Hal; Hirshleifer, David; Danling, Jiang; Sonya, Lim |
| Abstract: | We examined prospect theory and reference point adaptation following gains or losses using participants from China, Korea, and the US. Supporting prospect theory, we found in Studies 1 and 2 that subjects from all three countries generally exhibited loss aversion and a greater propensity for risk seeking in the loss domain than in the gain domain. In Study 3 we used the Becker, DeGroot, and Marschak (1964) procedure to ascertain the valuation subjects placed on a gamble after either a prior gain or a prior loss on a stock. After inferring the shift in each subjectâÃÂÃÂs reference point following this prior gain or loss, we found that reference point adaptation following a gain exceeded that following a loss in all three countries. In our third study we also had subjects sell and then immediately repurchase a stock that had experienced a prior gain or loss, which was designed to âÃÂÃÂpunctuateâÃÂàor close the mental account containing the prior gain or loss. This manipulation caused an increase in reference point adaptation among the Americans but a decrease among the Asians. |
| Keywords: | prospect theory; cross-cultural differences; reference point adaptation; mental accounting |
| JEL: | D81 G11 |
| Date: | 2007–07–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:4009&r=cna |