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on China |
| By: | Yang Liu (Renmin University of China); Zhigao Jiang (Energytalent Consulting Co., Ltd); Bowei Guo (Renmin University of China) |
| Keywords: | China power market reform, market failures, local market power, electricity spot market |
| JEL: | Q41 Q48 D61 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg2122&r= |
| By: | Sébastien Marchand (CERDI - Centre d'Études et de Recherches sur le Développement International - UCA [2017-2020] - Université Clermont Auvergne [2017-2020] - CNRS - Centre National de la Recherche Scientifique); Maimouna Barro (CERDI - Centre d'Études et de Recherches sur le Développement International - UCA [2017-2020] - Université Clermont Auvergne [2017-2020] - CNRS - Centre National de la Recherche Scientifique); Huanxiu Guo (CERDI - Centre d'Études et de Recherches sur le Développement International - UCA [2017-2020] - Université Clermont Auvergne [2017-2020] - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | In the process of industrialization, relocation of manufacturing industries from urban to rural areas may have important implications for the rural environment and agricultural production. As a demonstration, the aim of this paper is to estimate the impact of wastewater from industrial firms on agricultural yields in rice farming of Jiangsu province, China. Using 2011-2015 panel data from both the China Rural Fixed Point Survey and the China Environmental Statistics Database between 2011 and 2015, we find that industrial wastewater significantly reduces rice yields. The econometric strategy implemented allows us to assume that this result reflects a causal and detrimental biological effect of wastewater on the growing process of the rice. These results highlight the need to better understand the conflicts between industry and agriculture at the local level in a context of rapid industrialization. |
| Keywords: | China,Rural environment,Rice farming,Industrial water pollution |
| Date: | 2020–06–17 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cdiwps:hal-02871257&r= |
| By: | Jean-Louis Combes (CERDI - Centre d'Études et de Recherches sur le Développement International - UCA [2017-2020] - Université Clermont Auvergne [2017-2020] - CNRS - Centre National de la Recherche Scientifique); Mary-Françoise Renard (CERDI - Centre d'Études et de Recherches sur le Développement International - UCA [2017-2020] - Université Clermont Auvergne [2017-2020] - CNRS - Centre National de la Recherche Scientifique); Shuo Shi (CCES - China Center for Economic Studies, Fudan University) |
| Abstract: | The objective of the paper is to study the relationship between international trade openness and domestic market integration in Late Imperial China. More specifically, we focus on a natural experiment namely the Unequal Treaties of the second half of the nineteenth century that lifted the long-existing international trade restriction system. The integration of domestic markets is analyzed while looking at the existence of a long term common movement in the grain prices between provinces. The econometric results show that trade openness did not lead to better integration of the Chinese domestic grain markets. Our results support the hypothesis according to which long-distance trade has not generated efficiency gains in domestic markets. We evidence a strong segmentation between domestic and international grain markets owing to different traded products and operators. |
| Keywords: | Market integration,Law of one prices,Late Imperial China |
| Date: | 2020–05–25 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cdiwps:hal-02619286&r= |
| By: | Yi Ding (Chinese University of Hong Kong); Wei Xiong (Princeton University and NBER); Jinfan Zhang (Chinese University of Hong Kong) |
| Abstract: | We document issuance overpricing of corporate debt securities in China, which contrasts with underpricing of equity and debt securities in Western countries. The phenomenon in China is robust across subsamples of issuances with different credit ratings, maturities, issuer types, and issuing history, reflecting the distinct institutional environment and issuance process in China’s market for corporate debt securities. The average overpricing dropped from 7.44 basis points to 2.41 basis points after the government prohibited underwriters from using rebates in issuances in October 2017. By analyzing overpricing before and after the rebate ban and across different issuers and underwriters, we uncover two channels for underwriters, who compete for future underwriting business, to drive up overpricing: rebates and self-purchases. |
| Keywords: | Overpricing, New Issues, Corporate Debt Securities, Chinese Market |
| JEL: | G12 G14 G24 |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:pri:econom:2021-50&r= |
| By: | Ma, Yuxuan (University of Warwick) |
| Abstract: | This study finds that individuals exposed to an additional 1 μg/m3 airborne particulate matter smaller than 2.5 lead to a statistically significant 0.121 kg/m2 rising of body mass index. This positive relationship is identified by two-stage least square regression using a regression discontinuity estimator of air pollution generated by China’s coal-burning winter heating policy, which only heats for northerners but not for southerners, as the instrument variable. This identification utilizing the quasi-experimental method of regression discontinuity design based on the difference of county’s latitude from both parametric and nonparametric approaches, using different kernel types and bandwidth sizes, with 6000 observations in 2008. Further, the result shows that heating policy caused airborne particulate matter smaller than 2.5 and body mass index significantly increasing in the north and south divided line. These findings not only contribute to the identification of causality between air pollution and obesity but help guide social and environmental policy as well. |
| Keywords: | Airborne particulate matter ; Body mass index ; China ; Central heating policy ; Regression discontinuity JEL Classification: C54 ; I10 ; Q53 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:wrk:wrkesp:18&r= |
| By: | Duan, Yuqi (Monash University) |
| Abstract: | This study investigates the impact of China’s entry into the WTO on carbon dioxide emissions from a global standpoint. A panel of production-based CO2 emissions and consumption-based CO2 emissions of 39 countries from 1995 to 2007 is constructed by integrating country-sector level data from WIOD. Using a triple difference design, I observe additions in production and consumption emissions after this specific trade openness event. The results vary according to the country’s income level. For example, this event has a more significant effect in developed countries than developing countries. The above results are due to the growth in both production and consumption emission intensities after the event. Notably, the magnitude of the increase in the production emissions is smaller than the consumption emissions, thus inferring that the CO2 emissions embodied in domestic production used for exports or final consumption partially decrease through the growing highemission intensity intermediate goods imported from China. |
| Keywords: | trade liberalization ; China’ entry into the WTO ; production CO2 emissions ; consumption CO2 emissions ; developed and developing countries JEL Classification: F18 ; Q53 ; Q54 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:wrk:wrkesp:26&r= |
| By: | Shi Bo |
| Abstract: | The purpose is to promote the orderly development of China's Internet financial transactions and minimize default and delinquency in Internet financial transactions. Based on the typical big data algorithm (K-means algorithm), this paper discusses the concepts of the K-means algorithm and Internet financial transactions, as well as the significance of big data algorithms for Internet financial transaction data evaluation and statistical analysis. Meanwhile, the existing Internet financial transaction systems are reviewed, and their deficiencies are summarized, based on which relevant countermeasures and suggestions are put forward. At the same time, the K-means clustering algorithm is applied to evaluate financial transaction data, finding that it can improve the accuracy of data and reduce the error by 40%. But when the number of clusters is 7, the output result distribution interval of the K-means clustering algorithm is 4 days, and when the number of clusters is 10, the output result distribution interval of the K-means clustering algorithm is 6 days, indicating that the convergence effect of this algorithm is relatively good. Additionally, many small and micro individuals still hold a negative attitude towards the innovation and adjustment of Internet financial transactions, indicating that the construction of China's Internet financial transaction system needs further optimization. The satisfaction of most small and micro individuals with innovation and adjustment also shows that the proposed Internet financial transaction adjustment measures are feasible, can provide references for relevant Internet financial transactions, and contributes to the development of Internet financial transactions in China. |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2202.03146&r= |