|
on China |
| By: | Lin, Carl (Bucknell University); Sun, Yan (Beijing Normal University); Xing, Chunbing (Beijing Normal University) |
| Abstract: | We use several datasets to study whether son preference prevails in the human capital investment among Chinese rural-urban migrant households. We find that son preference exists among the rural migrants' households and that it caused lower probabilities relative to that of their boy counterparts that school age girls will migrate with their parents - a difference that is absent for children of preschool age. We also find that (1) boys are more likely to migrate following the reduction in the number of rural primary schools, (2) migrant households with multiple children tend to take their sons to migrate more than they take their daughters, and (3) the fact that parents of boy students spend more on their children's education can be largely explained by the extra costs of schooling for migrant households. Finally, we show that the parents of rural children have higher expectations for boys than they do for girls. Our results suggest that son preference is detrimental to the human capital investment in girls in contemporary China when institutional arrangements result in high costs of schooling for migrants. |
| Keywords: | rural-urban migration, China, children, son preference, human capital |
| JEL: | J13 J17 J61 J24 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp11930&r=cna |
| By: | Zhu Liu; Bo Zheng; Qiang Zhang |
| Abstract: | Global achievement of climate change mitigation will heavy reply on how much of CO2 emission has and will be released by China. After rapid growth of emissions during last decades, China CO2 emissions declined since 2014 that driven by decreased coal consumption, suggesting a possible peak of China coal consumption and CO2 emissions. Here, by combining a updated methodology and underlying data from different sources, we reported the soaring 5.5% (range: +2.5% to +8.5% for one sigma) increase of China CO2 emissions in 2018 compared to 2017, suggesting China CO2 is not yet to peak and leaving a big uncertain to whether China emission will continue to rise in the future. Although our best estimate of total emission (9.9Gt CO2 in 2018) is lower than international agencies in the same year, the results show robust on a record-high energy consumption and total CO2 emission in 2018. During 2014-2016, China energy intensity (energy consumption per unit of GDP) and total CO2 emissions has decreased driven by energy and economic structure optimization. However, the decrease in emissions is now offset by stimulates of heavy industry production under economic downturn that driving coal consumption (+5% in 2018), as well as the surging of natural gas consumption (+18% in 2018) due to the government led coal-to-gas energy transition to reduce local air pollutions. Timing policy and actions are urgent needed to address on these new drivers to turn down the total emission growth trend. |
| Date: | 2018–11 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1811.09475&r=cna |
| By: | Wang, Y.; Huang, J. |
| Abstract: | Although the importance of forests in climate change mitigation has been widely recognized, there has been a lack of empirical research regarding the role of forests in agricultural adaptation to climate change. This paper uses a careful designed household survey in South China that considers an exogenous shock of drought, to determine whether the presence of natural and planted forests near rice-producing villages can reduce the adverse effects of drought on rice yield. After controlling for local climate and water infrastructure, we find robust evidence that natural forests and not planted forests have significant positive effects on rice yield, due to their influence on the availability of water for irrigation. Although drought hinders farmers access to irrigation, which negatively affects rice yield, forests near villages provide protection for rice against drought. These findings support the adoption of forest ecosystem-based adaptation (EBA) to cope with climate change and enhance food security. Acknowledgement : |
| Keywords: | Crop Production/Industries |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:276959&r=cna |
| By: | Zhu, J. |
| Abstract: | This paper presents evidence in favor of the hypothesis that agricultural legacy matters for shaping the equilibrium level of current innovations. The rice theory (Talhelm et al., 2014) provided a micro foundation for the proposition that people in rice cultivating areas are more inclined toward holistic thinking while wheat cultivating biases one toward analytical thinking. By taking advantages of homogeneity among Han Chinese, this paper proposes and tests the hypothesis that regions that grow rice (the suitability of land for rice production is used as a proxy) tend to inculcate values which promote weak innovations. Using multilevel (province, prefecture, county, and individual level) data within China, the results lend strong support to the proposed idea. Our findings are robust with alternative measures of rice cultivation, with alternative estimation strategies, and with the inclusion of various geographical, socioeconomic, and potentially confounding correlates. Acknowledgement : The authors thank Tang Zhong, Thomas Talhelm, and Ng Yew-Kwang for helpful discussions and comments, and Liu Meng and Aatishya Mohanty for providing competent research assistance. The usual disclaimers apply. |
| Keywords: | Institutional and Behavioral Economics |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277219&r=cna |
| By: | Chen, X.; Ye, J. |
| Abstract: | This paper investigates the existence and magnitude of air pollution spillovers in Chinese cities. Estimation of this spillover effect is complicated because neighboring cities share similar business/pollution cycles and changes in wind direction can be fairly frequent. To circumvent these empirical challenges, we exploit spatial and temporal variations in PM10 concentrations for 108 major cities in China s Eastern Monsoon Region during the East Asian winter and summer monsoon seasons. We find large pollution spillover effects: a city s average PM10 concentration increases by 0.09-0.21 units during the winter monsoon season and by 0.06-0.10 units during the summer monsoon season, if PM10 concentrations in cities upwind of this city increase by one unit. The percentage contributions of PM10 pollution from upwind cities to local PM10 levels vary by region and can be as large as 30%. These findings are comparable to the existing atmospheric evidence. Our findings suggest that pollution control policies must be coordinated between cities to abate urban air pollution. Acknowledgement : |
| Keywords: | Environmental Economics and Policy |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277146&r=cna |
| By: | Bilgili, Faik; Mugaloglu, Erhan; Koçak, Emrah |
| Abstract: | This paper observes the possible co-movements of oil price and CO2 emissions in China by following wavelet coherence and wavelet partial coherence analyses to be able to depict short-run and long-run co-movements at both low and high frequencies. To this end, this research might provide the current literature with the output of potential short run and long run, structural, changes in CO2 emissions upon a shock (a change) in oil prices in China together with the control variables of World oil prices, fossil energy consumption, and renewables consumption, and, urban population in China. Therefore, this research aims at determining wavelet coherencies between the variables and phase differences to exhibit the leading variable in potential co-movements. By following the time domain and frequency domain analyses of this research, one may claim that the oil prices in China has considerable negative impact on CO2 emissions at high frequencies for the periods 1960-2014 and 1971-2014 in China. Besides, one may underline as well other important output of the research exploring that the urban population and CO2 emissions have positive associations, move together for the period 1960-2014 in China. Eventually, this paper might suggest that authorities follow demand side management policies considering energy demand behavior at both shorter cycles and longer cycles to diminish the CO2 emissions in China. |
| Keywords: | Wavelet coherence, wavelet partial coherence, oil price, CO2 emissions, urbanization, China |
| JEL: | C1 C32 C49 C61 C63 E32 E37 I0 J11 J18 Q2 Q21 Q31 Q32 Q40 Q52 Q53 Q56 Q57 R0 |
| Date: | 2018–04 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:90170&r=cna |
| By: | Wang, W. |
| Abstract: | This paper assess the China s rural labor market by exploring the role of education playing in the wage premium among different job location by using samples covering more than 2000 households in 100 villages which are nationally representative. The results indicate that the rural labor markets are functioning and reflect as follows: (i) Whether the definitions of migration are, there are obvious wage premiums of migrants and with the boundary that we defined gradually away from the home township of rural labor, the wage premium becomes more obviously. At the same time, we find the return to education of migrants is significantly higher than those work locally. (ii) Compared to the labor force employed in his/her township, those who worked in other job locations all have a significant wage premium when we have a more comprehensive division after considering the employment distance and cost of living. (iii) Only work in the big cities has a consistent significantly higher return to education than work within labor s home township. Acknowledgement : Funding: This work was supported by the National Natural Science Foundation of China [grant number 71333012]. |
| Keywords: | Labor and Human Capital |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:276942&r=cna |
| By: | Liu, H. |
| Abstract: | The purpose of this paper is to deeply analyse the changes caused by the planting structure of grain crops from the supply perspective between 1993 and 2016.First, the paper introduces the background and progress of the pricing mechanism reform of grain crops. Then, the paper establishes the supply response models of rice, wheat, corn, and soybean based on the Nerlove model. It uses data from 1993 to 2016 to analyse farmers supply responses to the changes in the main influencing factors from three levels: the whole country, the main production areas, and northeast China.Findings are that the short term and long term supply elasticities of the sown area to the prices for rice and soybeans are far less than corn and soybeans in both the main production areas and northeast China. Market price supports for rice should be quickly reformed because of the price marketization of corn and soybeans, or else the problems that happened with corn may happen with rice in northeast China. Acknowledgement : Thank you for Dr Li's advices on the models and my colleague,Zhu's endeavors in colecting data. |
| Keywords: | Crop Production/Industries |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277504&r=cna |
| By: | Ye, C.; Zhuo, N. |
| Abstract: | Air pollution is a very serious problem facing hznaghou of China. The local government in Hangzhou has implemented lottery system for license plate application, traffic ban in rush-hours and investment in subway system to decrease automobile exhaust. The main research objective of this paper is to evaluate the effectiveness of these policies on the air pollution. The data analyzed in this paper include four pollutants (PM2.5, PM10, NO2, SO2) daily concentration (unit: ?g/m ), which is provided by the Environmental Protection Bureau of Zhejiang province. We use both OLS regression and regression discontinuity analysis to check the effects of the three policies memtion above. From the regression results, we find that the "lottery license plate", "rush hour traffic quota" , and subway system expansion all policies improved air quality in Hangzhou. Acknowledgement : Chunhui Ye gratefully acknowledges China National Science Foundation (Project 71773113) as well as Zhejiang University for financial support. |
| Keywords: | Agricultural and Food Policy |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277527&r=cna |
| By: | Li, J.; Chavas, J.-P. |
| Abstract: | This paper evaluates the effects of pricing policy on the distribution of agricultural prices, with an application to China. It investigates the effects of China s price support programs on price enhancement and price stabilization in two key Chinese markets: rice and corn. The analysis relies on Quantile autoregression (QAR) which provides a refined and flexible way to capture the effects of pricing policy on price distributions (including mean, variance, skewness and kurtosis). Based on monthly data over the period 2000-2014, the econometric analysis documents the price effects of policy interventions and shows how such effects can vary across markets. The paper finds slow adjustments in the price distribution and important differences between short run and long run effects. The empirical evidence shows that the Chinese price support program increased the price of corn and shifted its price distribution to the right. The analysis also finds that China s price support for rice contributed to stabilizing the domestic rice market without much price enhancement for rice. Acknowledgement : |
| Keywords: | Demand and Price Analysis |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277557&r=cna |
| By: | Fujii, Hidemichi; Managi, Shunsuke |
| Abstract: | Sustainable green technology is an important contributor to creating a sustainable society by simultaneously promoting environmental conservation and economic development. This study examines the determinants of sustainable green technology invention in China, with a focus on the differences in green technology development priorities in each five-year plan period. This study uses patent publication data in a patent decomposition analysis framework. We find that sustainable green patent publications increased due to efficiency improvements, the prioritization of sustainable green patents, an increased R&D expenditure share and economic growth, especially during periods of gradual economic development in China. Additionally, we find that the relative priority of R&D shifted from renewable energy technology to pollution abatement and other sustainable green technology in the 12th five-year plan. The different R&D priority trends for sustainable green technologies among the five-year plans can be used to formulate effective policies that promote sustainable green technology invention. |
| Keywords: | sustainable green technology; patent data; decomposition analysis; China; priority change |
| JEL: | O32 O44 Q55 Q56 |
| Date: | 2018–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:90251&r=cna |
| By: | Yixiao ZHOU (School of Economics and Finance, Curtin Business School, Curtin University); Rod TYERS (Business School, The University of Western Australia and Research School of Economics, Centre for Applied Macroeconomic Analysis (CAMA), Australian National University) |
| Abstract: | In transitional economies like China, comparatively low real wages imply sub-OECD labor and skill shares of value added and comparatively high capital shares. Despite rapid real wage growth, however, rather than converge toward the OECD, China’s low-skill labor share has been falling, due to structural and technical change. Here this dependence is quantified using an elemental national model with three households. Since 1994, a third of the total change in the Gini coefficient is estimated to be due to structural change and the rest to mainly skill-biased technical change. Widely anticipated further twists away from low-skill labor toward capital are then examined, assuming downward rigidity of low-skill wages and transfers that sustain low-skill welfare via taxes on capital income. The potential is identified for unemployment to rise extraordinarily, with negative effects mitigated if the population declines or if the share twists are accompanied by very strong total factor productivity growth. |
| Keywords: | Automation, income distribution, tax, transfers, general equilibrium, China |
| JEL: | D33 D58 O33 O53 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:uwa:wpaper:17-13&r=cna |
| By: | Li, Y.; Ruan, J.; Ye, C. |
| Abstract: | Market is the foundation of modern society. However, how did market evolve? Previous research has explored the impacts of spatial distance and transportation conditions on market integration. This paper argues that natural disasters also played a crucial role in the evolution of market integration in China, particularly in the grain market. When natural disasters occur, governments relief measures and merchants arbitrage activities will gradually promote interconnectivity among local grain markets. In this paper, China's major grain monthly price dataset from 1746-1795 and the Chinese historical disaster records dataset from 1696-1795 are used to analyze the impact of natural disasters on grain market integration. The empirical results show that natural disasters have a significantly positive effect on the integration of the grain market. The findings continue to hold after controlling the traffic conditions, grain varieties and lag effect. This study proposes a new perspective for understanding the evolution of the grain market. Acknowledgement : |
| Keywords: | Marketing |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277346&r=cna |
| By: | Renwick, A.; Ma, W.; Nie, P.; Tang, J. |
| Abstract: | This paper assesses the impact of participation in off-farm work on smartphone use, using an endogenous switching probit model and a survey of 493 rural Chinese households. The joint impacts of off-farm work participation and smartphone use on household income are also analyzed using a control function method. The results show that participation in off-farm work increases the probability of smartphone use significantly. Furthermore, we find that the household heads who engaged in off-farm activities and who were smartphone users earned 3,430 Yuan and 2,643 Yuan more per capita annual income, respectively, compared to their full-time farming and smartphone-free counterparts. Acknowledgement : The authors gratefully acknowledge financial support from Lincoln University within the seed fund project (INT5056). |
| Keywords: | Research and Development/ Tech Change/Emerging Technologies |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277304&r=cna |
| By: | Wang, L. |
| Abstract: | The aim of the paper is to assess how consumers evaluate quality certificate and to what extent they are willing to pay a premium for fresh fruits with certificate. A double-hurdle model is applied to data obtained by interviewing 407 fresh fruit consumers in nine cities, China. Willingness-to-pay a premium was modeled as a function of a series of socio-economic variables, plus fruit attributes, perceptions on fruit safety, and risk attitudes. Results indicate that the most important factors influencing willingness to pay a premium involve in positive attitudes toward quality certificate, degree of attention to fruit safety, perception of importance on fruit attributes. The recorded consumer interest in safety and quality of fresh fruits reveals that a promising market for certified fruits could be developed by an adequate knowledge on fruit certificate and an effective market monitoring system. Acknowledgement : The research was funded by the China Agriculture Research System [grant numbers CARS-28]. The authors would like to thank the editor and anonymous reviewers for their constructive comments that greatly improved the manuscript. |
| Keywords: | Consumer/Household Economics |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277413&r=cna |
| By: | Yimeng Du (Graduate School of Economics, Kobe University); Kenji Takeuchi (Graduate School of Economics, Kobe University) |
| Abstract: | This study investigates the effectiveness of regionally differentiated feed-in tariffs (FIT) for the development of renewable energy in China. By using a spatial regression discontinuity design, we estimate the impacts of regionally differentiated FITs on the outcome indicators of wind and solar power generation, such as utilization rate, installed capacity, power generation, and hours of operation. Our findings show that FIT implementation plays a role in promoting renewable energy development in resourcepoor regions. A small difference in the tariff rate leads to statistically significant differences in outcome indicators among regions. Our results suggest that regionally differentiated FITs might help mitigate the overproduction of wind electricity in regions with abundant wind resources but low electricity demand. |
| Keywords: | Feed-in Tariff; Renewable Energy; Renewable Curtailment; Spatial Regression Discontinuity Design |
| JEL: | Q42 Q48 |
| Date: | 2018–11 |
| URL: | http://d.repec.org/n?u=RePEc:koe:wpaper:1828&r=cna |
| By: | Jin, Y.; Jin, S. |
| Abstract: | This paper analyzes the heterogeneous impacts of exchange rate volatility on Chinese food exporters. Previous researches that employed country or sector-level aggregated data has yielded controversy conclusions in estimating effects of exchange rate uncertainty on agricultural trade. In this paper, we construct highly disaggregated Chinese food firm-level census data with destination-specific export data from 2000 to 2013 (215,783 sample firms), to discuss the influence based on firm-level characters. In general, this empirical research illustrates that the exchange rate fluctuation has significant negative effects on both trade prices and volumes. More importantly, we find that different firm-level characters (performance and scale) may reinforce or weaken the impact of this volatility on each firm. And this result is robust to different measures and econometric specifications. Acknowledgement : The authors gratefully acknowledge the support from the National Natural Science Foundation of China (NNSFC-71273233, 71333011), the Major Program of the Key Research Institute of Chinese Ministry of Education (No. 15JJD790032). |
| Keywords: | International Relations/Trade |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277197&r=cna |
| By: | jaleel, Sabahat; Bibi, Nazia |
| Abstract: | CPEC, a significant development project, aims to connect Pakistan and China through highways, oil and gas pipelines, railways and an optical fiber link all the way from Gwadar to Xinjiang. Being the biggest venture in the bilateral ties of China-Pakistan, the project faces certain undermining factors. The research explores the lingering security concerns that surfaced due to the destabilizing and separatist efforts of the Baloch Liberation Army (BLA) and Baloch Liberation Front (BLF). It also elaborates the Chinese concerns and Pakistan efforts to address these concerns while assuming the hypothesis that a secure and stable environment is necessary to reap the fruits of this mega project. The work also answers some innovative questions thus helpful for the students of Economics, Pakistan history, politics, Internal Relations, Foreign Policy and for those who intend to read about China-Pakistan and their joint ventures as CPEC. The main objective of the study to empirically analyses the response of Baloch community. Graphical and empirical methods have been adopted to describe and analyze the facts and figures related to the topic. The results clearly indicate that CPEC will face resistance from people of Balochistan, which will negatively affect the prospects of CPEC. The results also indicate that social issues like migration should be tackle to increase the benefits. Furthermore, people think that such project is important for growth and development of the country. |
| Keywords: | CPEC, BLA, BLF, Gwadar, Security |
| JEL: | A1 A14 |
| Date: | 2017–07–18 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:90135&r=cna |
| By: | Lin, J.; Z.; Zhang, Z. |
| Abstract: | Transportation is important for tobacco production in the mountain area in China. Agricultural cooperatives have been established to provide transportation services. In this paper, we assess whether receiving transportation services from agricultural cooperatives affect the technical efficiency of tobacco producers, using 346 household data from Guizhou Province, China. The results show that receiving transportation services result in an increase in household income of tobacco planting by 143.7% or 291.4% or 300.6% with different estimation approaches. Moreover, we also find that inclusion of membership can enhance the impact of transportation on household income. We conclude that agricultural cooperatives should be encouraged to better transportation and rural infrastructures. Acknowledgement : We are grateful for comments from Pro. Hongdong Guo, Markus Hanisch and staff from Division of Economics of Agricultural Cooperatives of Humboldt University zu Berlin. This work was supported by Guizhou Tobacco Monopoly, China. |
| Keywords: | Marketing |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:276998&r=cna |
| By: | Nicolaas Groenewold (Business School, The University of Western Australia) |
| Abstract: | China’s ‘New Normal’ has been widely discussed in both the press and in academic circles. While many aspects of the Chinese economy are expected to change in this situation, an important component of the change is a significant and persistent growth slowdown. Not surprisingly, Australian commentary on China’s growth slowdown has focussed on the implications for Australia’s growth rate. Evaluations of this effect vary widely but are generally not firmly based on empirical research. This paper helps to fill this gap by analysing the likely effect on Australia’s growth rate of a reduction in China’s rate of economic growth. The analysis begins with a simple back-of-the-envelope calculation and then moves to regression analysis and the simulation of a vector-autoregressive model. Estimates are remarkably consistent across a range of models and suggest that the effect on Australia of a permanent fall in China’s growth rate from 10% per annum to 7% per annum will be to reduce Australia’s growth rate by about 0.2 percentage points in the short run and approximately 0.5 percentage points in the long run. While not trivial, given Australia’s current growth rate, these estimates are hardly enough to justify prophesies of doom. |
| Keywords: | China; New Normal, Australia, growth, international spillover |
| JEL: | F41 F43 O47 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:uwa:wpaper:17-19&r=cna |
| By: | Deng, H. |
| Abstract: | This study evaluates the impact of Chinese government policies on private R&D investment in biotechnology. We apply survey data from 160 major agribusinesses to analyze the effects of various factors on firm R&D activities. Our findings provide evidence of inducement effects of government policy on firms R&D investment. Significant drivers of Chinese agribusiness firms decisions to invest in biotechnology R&D are public R&D subsidies, owning patents by firms, selling biotechnology products, and expectations of positive profit from commercialization of biotechnology crops. Firms collaboration with universities has no significant impact. Government R&D subsidies also significantly increase firms' biotechnology R&D investment spending. Acknowledgement : We thank the MOA, Seed Industry Association, and Agricultural Department of Zhejiang Province for helping with data collection. This research was supported by the National Natural Science Foundation of China (71210004).This research was supported by the National Natural Science Foundation of China (71210004). |
| Keywords: | Agricultural and Food Policy |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277117&r=cna |
| By: | Anping Chen (School of Economics, Jinan University); Nicolaas Groenewold (Business School, The University of Western Australia) |
| Abstract: | China’s ‘New Normal’ has been much discussed in recent years. An important aspect of the New Normal is the growth slowdown from levels of around 10% per annum to a more modest 6 or 7%. Not surprisingly, there has been widespread discussion of whether the slowdown is permanent or not and, in either case, what the sources of the slowdown are. However, much of this discussion has been based on informal analysis of the data rather than formal econometric results. We make a move in the direction of formal empirical analysis of this issue by estimating and simulating a vector autoregressive (VAR) model which distinguishes between demand, supply and foreign shocks as possible drivers of changes in economic growth. We analyse both two-variable (growth and inflation) and three-variable (foreign growth, domestic growth and inflation) VAR models and identify demand, supply and foreign shocks, using a modification of the Blanchard-Quah identification procedure. In the two-variable model we identify two shocks (demand and supply) and find that the slowdown since the GFC has been mainly supply-driven. This conclusion is not changed when a foreign growth variable is added to the model and a foreign shock is allowed for – we find that demand continues to be of relatively little importance, that the foreign shock also makes little contribution to explaining the long-run growth decline in China which continues to be driven by long-term supply factors. This conclusion is robust to a number of alternative formulations of the model. Thus, the growth slowdown may, indeed, be characterised as the ‘New Normal’. |
| Keywords: | China, slowdown, New Normal, growth, supply shocks, demand shocks |
| JEL: | O47 O53 E17 F47 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:uwa:wpaper:17-18&r=cna |
| By: | Mao, R. |
| Abstract: | Matching firm- and country-level data with a panel dataset of China s agricultural exports at the firm-product-country-level, a measure of firm-level exposure to exchange rate undervaluation has been proposed based on estimates of the bilateral undervaluation of yuan versus other currencies. Empirical models find that a firm s agricultural exports significantly and positively increase with its exposure to undervaluation. The result remains robust to alternative sample selections, measurement choices, and model specifications. The elasticity, however, differs across firms for their productivity, financial constraint, ownership, trade mode, and subsidy status. With the mediation role of increased exports, the undervaluation exposure further accelerates the firm-level growth in both productivity and scale according to the path analysis. This mediation effect takes almost a half of the acceleration effect of undervaluation on labor productivity and employment growth. It takes even the entire effect as to the growth of total factor productivity, sales, value added, and capital stock. Acknowledgement : |
| Keywords: | Financial Economics |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:276987&r=cna |
| By: | Wang, J.; Bi, S.; Lyu, K.; Zhang, C. |
| Abstract: | This study adopts econometric models to link the formal credit constraints with agricultural output and short-term investment in rural China. The empirical results show that formal credit constraint does impinge significantly on agricultural production, and credit-constrained farmers mostly depend on family endowment. In case where the formal credit demand is fully met, the average output per mu will increase by 14.6%. According to further analysis, formal credit constraints have a differential impact on short-term agricultural inputs. Demand-side credit constraint restrains the purchase to agricultural machinery service, while supply-side credit constraint has negative effects on fertilizer inputs, but not on seed, pesticide inputs and labor hiring. Acknowledgement : The paper was supported by the Programs of National Natural Science Found of China (NSFC) (71573262), China Agriculture Research System (CARS-02), as well as the Agricultural Science and Technology Innovation Program (ASTIP-IAED-2018-03). |
| Keywords: | Agricultural Finance |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:277536&r=cna |
| By: | Ruoxi Lu; David A. Bessler; David J. Leatham |
| Abstract: | This is the first study to explore the transmission paths for liquidity shocks in China's segmented money market. We examine how money market transactions create such pathways between China's closely-guarded banking sector and the rest of its financial system, and empirically capture the transmission of liquidity shocks through these pathways during two recent market events. We find strong indications that money market transactions allow liquidity shocks to circumvent certain regulatory restrictions and financial market segmentation in China. Our findings suggest that a widespread illiquidity contagion facilitated by money market transactions can happen in China and new policy measures are needed to prevent such contagion. |
| Date: | 2018–11 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1811.08949&r=cna |