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on China |
| By: | Yimeng Du (Graduate School of Economics, Kobe University); Kenji Takeuchi (Graduate School of Economics, Kobe University) |
| Abstract: | This study aims to examine whether investment in climate change mitigation plays a role in poverty alleviation. We investigate impacts of the renewable energy-based clean development mechanism (RE-CDM) on rural communities in China. The impacts of RE-CDM projects are estimated by combining propensity score matching with the difference-in-differences approach. We found that the promotion of biomass-based CDM projects significantly contribute to income improvement, employment generation, and industrial transformation in rural communities in China. On the other hand, our estimation results reveal that large-scale wind and solar energy-based CDM projects have the potential to increase the labor force in the primary industry in rural areas. |
| Keywords: | CDM; renewable energy; poverty alleviation; rural development; propensity score matching; difference-in-differences |
| Date: | 2018–02 |
| URL: | http://d.repec.org/n?u=RePEc:koe:wpaper:1808&r=cna |
| By: | Prema-chandra Athukorala (Arndt-Corden Department of Economics, Crawford School of Public Policy, Australian National University) |
| Abstract: | This paper examines China’s evolving role in global production networks and its implications for assessing the potential impact of the ‘trade war’ declared by President Trump. The analysis, which is based on a systematic disaggregation of trade based on global production sharing into components and final assembly, suggests that the Sino-US trade gap is a structural phenomenon driven by the pivotal role played by China within East Asia cantered production networks. The global competitiveness of US MNEs depends on their ability to use China as the production base for supplying the rest of the world, and China is now an important supplier of components used in US manufacturing. Given this intricate interdependence between the two economies within global production networks, attempt to impose punitive tariffs on China is bound to face formidable opposition from business interests in the United States. Even if the protectionist threat becomes a reality, the impact may not be as damaging as commonly thought because global production sharing has considerably weakened the link between relative prices and trade flows. |
| Keywords: | China, global production networks, Sino-US trade dispute, punitive tariffs, MNEs |
| JEL: | F13 F14 F59 |
| Date: | 2017–06 |
| URL: | http://d.repec.org/n?u=RePEc:fre:wpaper:34&r=cna |
| By: | Angrick, Stefan; Naoyuki, Yoshino |
| Abstract: | Monetary policy in most major economies has traditionally focused on control of the interbank interest rate to achieve an inflation target. Monetary policy in transition economies, in contrast, relied on a mixed system of price-based and quantity based instruments and targets. Japanese monetary policy up to the 1990s was based on such a mix, and echoes of this system are today found in China’s monetary policy set-up. We explore the transition of these two monetary policy regimes historically and quantitatively with institutional comparison and Structural Vector Autoregressive (SVAR) models. Specifically, we examine the role of the interbank rate and “window guidance,” a policy by which authorities use “moral suasion” to communicate target quotas for lending growth directly to commercial banks. In Japan’s case, we compile historical statistics on window guidance from newspapers and industry sources. For China, we apply Romer–Romer text analysis and computational linguistic techniques to policy reports to quantify information on window guidance.We empirically demonstrate the declining effectiveness of quantity measures and the increasing importance of price measures. We end with a policy assessment of managing the transition of monetary policy from a quantity-based system to a price-based system. |
| JEL: | E5 E52 E58 |
| Date: | 2018–02–21 |
| URL: | http://d.repec.org/n?u=RePEc:bof:bofitp:2018_004&r=cna |