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on China |
| By: | Lei, Xiaoyan (Peking University); Shen, Yan (Peking University); Smith, James P. (RAND); Zhou, Guangsu (Peking University) |
| Abstract: | This paper studies relationships between social networks, health and subjective well-being (SWB) using nationally representative data of the Chinese Population – the Chinese Family Panel Studies (CFPS). Our data contain SWB indicators in two widely used variants – happiness and life-satisfaction. Social network variables used include kinship relationships measured by marital status, family size, and having a genealogy; ties with friends/relatives/neighbors measured by holiday visitation, frequency of contacts, and whether and value gifts given and received; total number and time spent in social activities, and engagement in organizations including the communist party, religious groups, and other types. We find that giving and receiving gifts has a larger impact on SWB than either just giving or receiving them. Similarly the number of friends is more important than number of relatives, and marriage is associated with higher levels of SWB. Time spent in social activities and varieties of activities both matter for SWB but varieties matters more. Participation in organization is associated with higher SWB across such diverse groups as being a member of the communist party or a religious organization. China represents an interesting test since it is simultaneously a traditional society with long-established norms about appropriate social networks and a rapidly changing society due to substantial economic and demographic changes. We find that it is better to both give and receive, to engage in more types of social activities, and that participation in groups all improves well-being of Chinese people. |
| Keywords: | China, social networks, subjective well-being |
| JEL: | O10 O53 |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp9226&r=cna |
| By: | Sylvie Démurger (GATE Lyon Saint-Étienne - Groupe d'analyse et de théorie économique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - UCBL - Université Claude Bernard Lyon 1 - Université Jean Monnet - Saint-Etienne - PRES Université de Lyon - CNRS); Hui Xu (Beijing Normal University / Beijing) |
| Abstract: | This paper examines how left-behind children influence migration duration in China. We first present a simple illustrative model that incorporates economic and non-economic motives to migration duration. Using individual data from a survey carried out in Wuwei county (Anhui province) in 2008, we find that migrant parents of children in primary school tend to delay their return, a result we interpret as illustrating the need for migrant parents to accumulate money for their offspring’s education. In contrast, parental time appears substitutable by coresiding grandparents who contribute to delay the parents’ return, especially mothers, when they have children below the age of 12. |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01159072&r=cna |
| By: | Sylviane GUILLAUMONT JEANNENEY (University of Auvergne); Ping HUA (FERDI) |
| Abstract: | In this paper, the impact of Chinese competition on Africa’s manufacturing value added is analyzed through a model of manufacturing. Using panel data on 44 African countries covering the period 2000 to 2013, and controlling for the usual determinants of industrialization – such as the size of the domestic market, the quality of infrastructure and governance – we find that exports of manufactured goods by China and other countries to African countries mainly exert a negative effect on African manufacturing, while a moderate real appreciation of African currencies vis-à-vis the renminbi positively influences manufacturing value added, probably due to the reduced cost of imported machine and transport equipment from China (which accounted for 36% of total African imports from China in 2013) and to the reduced price of imported consumption goods increasing the remuneration of poor workers and therefore improving their productivity. However, a strong real appreciation (of more than 33%) instead exerts a negative effect on African’s manufacturing, as traditional theory predicts. |
| Keywords: | manufacturing, China, Africa, real exchange rates |
| JEL: | E60 L60 O55 |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:fdi:wpaper:2247&r=cna |
| By: | Deininger,Klaus W.; Jin,Songqing; Liu,Shouying; Xia,Fang |
| Abstract: | As part of a national experiment in 2008, Chengdu prefecture implemented ambitious property rights reforms, including complete registration of all land together with measures to ease transferability and eliminate migration restrictions. A triple difference approach using the Statistics Bureau?s regular household panel suggests that the reforms increased consumption and income, especially for less wealthy and less educated households, with estimated benefits well above the cost of implementation. Local labor supply increased, with the young shifting toward agriculture and the old toward off-farm employment. Agricultural yields, intensity of input use, and diversity of output also increased. Improving property rights in peri-urban China appears to have increased investment and diversification. |
| Keywords: | Access to Finance,Economic Theory&Research,Public Sector Management and Reform,Labor Policies,Rural Development Knowledge&Information Systems |
| Date: | 2015–08–11 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:7388&r=cna |
| By: | Rod Tyers |
| Abstract: | Central to the global impacts of China’s emergence has been its structural imbalance (its excess product supply and excess saving), but this has diminished considerably in the transition years since 2010. These imbalances are now reversed as its consumption expands faster than its GDP and so the global implications are qualitatively different. Moreover, higher income, slower growth, and therefore increasing similarity with the advanced economies, implies that consumer and business confidence are now more central to performance, rendering recession possible, and more likely as the growth slowdown raises the intensity of the domestic spotlight on political performance. The international effects of the transition and a possible recession are here quantified using a global macro model with national portfolio rebalancing. The transition to consumption-led growth is shown to foster employment abroad, particularly in the US, while a major Chinese recession is shown to be damaging to the advanced economies and particularly to the US, the more so if China’s policy response is expansionary and includes floating the RMB. |
| Keywords: | China, imbalances, saving, monetary policy, spill-overs, recession |
| JEL: | F42 F43 F47 |
| Date: | 2015–08 |
| URL: | http://d.repec.org/n?u=RePEc:een:camaaa:2015-29&r=cna |
| By: | Carlos Casanova Allende; Le Xia; Romina Ferreira |
| Abstract: | In this paper we deploy an export dependency index to identify the sectors and countries in Latin America which are most exposed to fluctuations in Chinese demand. |
| Keywords: | Asia , Economic Analysis , Latin America , Research , Working Paper |
| JEL: | D51 F02 F14 |
| Date: | 2015–08 |
| URL: | http://d.repec.org/n?u=RePEc:bbv:wpaper:1526&r=cna |
| By: | Damien Cubizol (GATE Lyon Saint-Étienne - Groupe d'analyse et de théorie économique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - UCBL - Université Claude Bernard Lyon 1 - Université Jean Monnet - Saint-Etienne - PRES Université de Lyon - CNRS) |
| Abstract: | This paper addresses the allocation puzzle of capital flows and privatization in emerging countries in transition. It demonstrates that the allocation of household savings to State-Owned Enterprises (SOEs), and not to the increasing share of private firms, solves both the allocation puzzle of capital flows and the drop in consumption in China. The contribution is to explain these two elements in a dynamic general equilibrium model with TFP growth that differentiates FDI and financial capital. In addition to other frictions, public banks and SOEs have the crucial role in capital misallocation by misdirecting household savings. It modifies firms' labor and capital intensiveness, creates shifts in savings accumulation, and households satisfy the large cheap labor demand coupled with low returns on their savings. With a calibration adapted to the Chinese case and deterministic shocks, the model also matches to a large extent the data for a variety of stylized facts over the last 30 years. |
| Date: | 2015–07–16 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01176919&r=cna |
| By: | Asian Development Bank (ADB); Asian Development Bank (ADB) (East Asia Department, ADB); Asian Development Bank (ADB) (East Asia Department, ADB); Asian Development Bank (ADB) |
| Abstract: | The People’s Republic of China (PRC) has adopted a more market-oriented approach by promoting rural microfinance, pursuing bottom-up innovations such as group lending, various forms of guarantees, new financial products based on purchase orders and insurance policies, and better incentives for agriculture funding from financial institutions. In 2009, the PRC sought the assistance of the Asian Development Bank to study how to optimize policy choices in rural finance using both top-down and bottom-up approaches. This report presents the findings of that rural microfinance study, including valuable lessons learned from several pilot microlending programs conducted in selected provinces in the PRC. It then analyzes outstanding issues in the country’s rural and microfinance markets that need to be addressed more vigorously. |
| Keywords: | People's Republic of China, Microfinance, Rural Finance, Financial Innovation, Rural Financial Market, Rural Financial Institution, Rural Financial Supervision, MSE Finance, Rural Financing Difficulty, Chanyeyuan, Value Chain, Cooperative Financing, Mutual Aid Fund, Microfinance Development, Agriculture Loan, Poverty Reduction |
| Date: | 2015–01 |
| URL: | http://d.repec.org/n?u=RePEc:asd:wpaper:rpt135633-2&r=cna |
| By: | Kumari Ranjeeni (Deakin University); Susan S Sharma (Deakin University) |
| Abstract: | This paper investigates the impact of the news announcement of the Lehman Brothers’ (LBs’) bankruptcy on the performance of Shanghai Stock Exchange (SSE) sectors. Unlike the assumption in this literature that firms are homogenous, we address the unknown issue: does LBs’ bankruptcy have a heterogenous effect on stock returns of sectors listed on SSE? We employ an event study approach and use daily data for a total of 845 firms grouped into nine sectors, we find fresh results, previously undocumented in this literature. First, our results show that unlike the United States (see Ranjeeni 2014), Chinese Energy and Financial sectors were insignificantly affected from LBs’ bankruptcy. This implies that these sectors can provide cross-country diversification opportunities for US investors during volatile periods. Second, we find statistically insignificant effect of LBs’ bankruptcy on the performance of the financial sector while most of the other sectors suffered significantly. This implies that the Chinese market level analysis conducted by Bianconi et al. (2013) is influenced by the performance of the financial sector. Finally, our results highlight on the heterogeneous effect of LBs’ bankruptcy on different Chinese sectors and at different time intervals surrounding the event. |
| Keywords: | Lehman Brothers’ bankruptcy, Global Financial Crisis, abnormal returns, Chinese sectors, event study. |
| JEL: | G01 G11 G14 G33 |
| URL: | http://d.repec.org/n?u=RePEc:dkn:ecomet:fe_2015_15&r=cna |