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on China |
| By: | Filippov, Sergey (UNU-MERIT); Saebi, Tina (UNU-MERIT) |
| Abstract: | The magnitude of outward FDI from China over the recent years has been impressive. It is widely acknowledged that China's government plays an active role in encouraging its companies to go global and become multinational as they realise the value of outward FDI. The paper traces the development of China's outward direct investment policies and discusses the various motives of Chinese companies' internationalisation. More specifically, in this paper we look at the European continent as the emerging destination for Chinese outward direct investment and analyse the implication this trend has for European companies and governments. |
| Keywords: | E61, F23, O52 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:unumer:2008055&r=cna |
| By: | Shunfeng Song (Department of Economics, University of Nevada, Reno); Chengsi Wang (Department of Economics, University of New South Wales); Jianghuai Zheng (Department of Economics, Nanjing University) |
| Abstract: | This paper investigates the relationships among industrial upgrading, mid-aged peasants’ non-farm employment, and land conversion systems. We prove that China’s efforts to upgrade its industries generate a negative employment shock on mid-aged peasant workers, forcing some of them to return to their home villages. The current lump-sum land acquisition system, however, will neither help peasant workers deal with the adverse employment shock nor promote land centralization for industrial and urban uses. On contrary, land cooperation, an emerging land centralization system, will help peasant workers mitigate the adverse employment shock and centralize rural land for nonagricultural purposes. |
| Keywords: | Peasant workers; Industrial upgrade; Employment; Land centralization |
| JEL: | Q15 J43 |
| Date: | 2008–09 |
| URL: | http://d.repec.org/n?u=RePEc:unr:wpaper:08-006&r=cna |
| By: | Fortanier, Fabienne (University of Amsterdam Business School); Tulder, Rob van (Rotterdam School of Management, Erasmus University Rotterdam) |
| Abstract: | This paper explores whether the internationalization trajectories - patterns over time in the level, pace, variability and temporal concentration of international expansion - of large firms from China and India are fundamentally different from those of developed country firms. A longitudinal cross-country comparative study of 256 large firms for the 1990-2004 period shows that, although internationalization trajectories of large and leading Chinese and Indian firms are indeed different, there are also considerable similarities between established developed country firms and the new firms from emerging markets, not in the least because they often interact within the same sector |
| Keywords: | Internationalization trajectories, Transnationality Index (TNI), longitudinal research, crosscountry comparison |
| JEL: | F21 F23 M19 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:unumer:2008054&r=cna |
| By: | Susan Olivia (University of California, Davis); John Gibson (University of Waikato); Scott Rozelle (Stanford University); Jikun Huang (Chinese Academy of Sciences); Xiangzheng Deng (Chinese Academy of Sciences) |
| Abstract: | In this paper, we apply a recently developed small-area estimation technique to derive geographically detailed estimates of consumption-based poverty and inequality in rural Shaanxi, China. We also investigate whether using environmental variables derived mainly from satellite remote sensing improves upon traditional approaches that only use household survey and census data. According to our results, ignoring environmental variables in statistical analyses that predict small-area poverty rates leads to targeting errors. In other words, using environmental variables both helps more accurately identify poor areas (so they should be able to receive more transfers of poor area funds) and identify non-poor areas (which would allow policy makers to reduce poverty funds in these better off areas and redirect them to poor areas). Using area-based targeting may be an efficient way to reach the poor since many counties and townships in rural Shaanxi have low levels of inequality, even though, on average, there is more within-group than between-group inequality. Using information on locations that are, in fact, receiving poverty assistance, our analysis also produces evidence that official poverty policy in Shaanxi targets particular areas which in reality are no poorer than other areas that do not get targeted. |
| Keywords: | China; environment; poverty; small area estimation |
| JEL: | O15 O53 P36 Q56 |
| Date: | 2008–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:wai:econwp:08/14&r=cna |
| By: | Loren Brandt; Aloysius Siow; Carl Vogel |
| Abstract: | Between 1958 and 1961, China experienced one of its worst famines in history. Birth rates plummeted during these years, but recovered immediately afterwards. The famine-born cohorts were relatively scarce in the marriage and labor markets. The famine also adversely affected the health of these cohorts. This paper decomposes these two effects on the marital outcomes of the famine-born and adjacent cohorts in the rural areas of two hard hit provinces, Sichuan and Anhui. Individuals born pre and post-famine, who were in surplus relative to their customary spouses, were able to marry. Using the Choo Siow model of marriage matching, the paper shows that the famine substantially reduced the marital attractiveness of the famine born cohort. The modest decline in educational attainment of the famine born cohort does not explain the change in spousal quality of that cohort. Thus, the famine-born cohort, who were relatively scarce compared with their customary spouses, did not have significant above average marriage rates. |
| Keywords: | famine, marriage market, Choo Siow, China |
| JEL: | J1 O1 |
| Date: | 2008–09–08 |
| URL: | http://d.repec.org/n?u=RePEc:tor:tecipa:tecipa-334&r=cna |
| By: | Wan-Hsin LIU |
| Abstract: | Since 1997 the Hong Kong (HK) government has markedly changed its role from being a mere institution provider to being an active innovation promoter. As such, it has actively implemented innovation policies that focus especially on creating new funding opportunities and establishing several R&D centres to facilitate information flow and innovation cooperation between universities and industries. One of the industries in which it has been especially active is the electronics industry. Thus this study looks at the electronics industry to examine, using data collected from a questionnaire survey on the HK electronics SMEs, whether these policies have positively affected innovation intensity in HK. The survey findings indicate that there has been an increase in innovation activities in HK, but also that neither the R&D centres nor the universities have played important roles as innovation sources or innovation partners for the HK electronics SMEs. Rather, the main way through which universities and R&D centres support the HK electronics SMEs’ innovation activities seems to be the provision of a highly-qualified labour-force transmitting academic knowledge to companies |
| Keywords: | electronics, innovation, innovation policy, regional survey, Hong Kong, China |
| JEL: | D21 L60 O31 O33 O38 R10 |
| Date: | 2008–09 |
| URL: | http://d.repec.org/n?u=RePEc:kie:kieliw:1445&r=cna |
| By: | Maristella Botticini; Aloysius Siow |
| Abstract: | The returns to scale of marriage markets have important behavioral and welfare consequences. It is quantitatively difficult to estimate the returns to scale because, due to endogenous migration, the marriage market size is endogenous. This paper addresses the endogeneity in two ways. First, it estimates the degree of returns to scale in U.S. marriage markets using the 2000 census. Given that in the United States people move to cities to find marriage partners and, therefore, the size of the marriage market is endogenous, we instrument the current size of a cohort in the marriage market with the size of that cohort twenty years earlier. Second, it estimates city scale effects in two societies---early Renaissance Tuscany and pre-reform China---where there was little internal mobility, and thus, the size of the marriage market can be considered exogenous. The main finding is that in all three societies, there is no evidence of increasing returns to scale in marriage markets, whereas the hypothesis of constant returns to scale cannot be rejected. This is true when looking at marriage odds ratios, total gains to marriage, and the quality of marital match. Given the different characteristics of the three societies in terms of population size, time period, economic structure, and social norms characterizing the marriage market, the similarity and precision of the estimates for returns to scale parameters is remarkable. |
| Keywords: | Increasing returns, marriage market, United States, China, Renaissance Tuscany |
| JEL: | J1 |
| Date: | 2008–09–08 |
| URL: | http://d.repec.org/n?u=RePEc:tor:tecipa:tecipa-333&r=cna |
| By: | Kumar, Nagesh (Research and Information Systems); Chadha, Alka (Department of South Asian Studies, National University of Singapore) |
| Abstract: | Indian and Chinese enterprises have emerged as important outward investors in recent times with their involvement in a number of prominent Greenfield investments and acquisitions. The theory of international business posits that the ownership of some unique advantages having a revenue generating potential abroad combined with the presence of internalization and locational advantages leads to outward FDI. Conventional MNEs based in the industrialized countries have grown on the strength of ownership advantages derived from innovatory activity that is largely concentrated in these countries. It examines the case of steel industry that has become an important sector of overseas activity for Chinese and Indian companies with a string of major acquisitions of foreign MNEs for acquiring footprints and natural resources in order to identify the sources of ownership advantages and strategies of outward investments from emerging countries. |
| Keywords: | FDI outflows, steel, India |
| JEL: | O1 L61 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:unumer:2008053&r=cna |
| By: | John Bennett; Huw Dixon; Helen X.Y. Hu |
| Abstract: | We formulate a microeconomic model of the dual-track price system for Households and use it to analyze 'transitional policy' reforms, which we characterize as a rise in plan-track price and a reduction in the plan-track quantity. Each of these reforms has a negative effect on market price, but a positive effect on the weighted average price (CPI). When households are homogeneous, transitional policy reform reduces welfare (if profits are not fully distributed). Under fairly mild assumptions, if households are heterogeneous and resale of goods can occur, transitional policy reform creates losers (state employees) as well as winners (non-state employees). |
| Date: | 2008–07 |
| URL: | http://d.repec.org/n?u=RePEc:edb:cedidp:08-14&r=cna |
| By: | Jian Hu (Southern Methodist University) |
| Abstract: | In this paper, we use Time-Varying Conditional Copula approach (TVCC) to model Chinese and U.S. stock markets dependence structures with other major stock markets around the world. AR-GARCH -t model is used to examine the margins, while two copula models are employed to analyze the joint distri- butions. In this pairwise analysis, both constant and time-varying conditional dependence parameters are estimated by two-step maximum likelihood method. Dependence depends on past realizations and some of dependence parameters are persistent while others are quite volatile. A comparative analysis of depen- dence structures in Chinese and U.S. stock markets is also provided. There are three main findings: Firstly, the time-varying dependence model, though gives more information on the dependence change over time, does not always perform better than constant dependence model. Secondly, notwithstanding previous research extensively reports that the dependence between stock markets tend to be higher during market down- turn than during market upturn, we find a counter-example that dependence is much higher during market upturn than during market downturn. Finally, de- pendence structures of Chinese and U.S. stock markets are sustantially di¤erent from each other. |
| Keywords: | AR-GARCH-t model; Time-varying conditional copula; Dependence structure; Stock market. |
| JEL: | C51 F36 G15 P52 |
| Date: | 2008–09 |
| URL: | http://d.repec.org/n?u=RePEc:smu:ecowpa:0808&r=cna |