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on China |
| By: | Hui Geng (Department of Economics, Business School, University of Western Australia); Yanrui Wu (Department of Economics, Business School, University of Western Australia); Shawn Xiaoguang Chen (Department of Economics, Business School, University of Western Australia) |
| Abstract: | This paper investigates the impact on US-China academic collaboration of the "China Initiative" program launched by the Trump administration in November 2018. It adopts the difference-in-difference method to analyse data of the world's top 29 innovative countries over the period of 2016-2022. It is shown that US-China academic collaboration suffered significantly due to this program. Furthermore, the impact goes beyond the US-China bilateral partnership as this program also affects other key scientific collaboration between China and some advanced economies. An analysis of disciplinary heterogeneity shows that the impact was particularly evident in the fields of nature science, engineering, as well as those have no clear links with national security such as medical and health sciences. However, our empirical evidence also demonstrates that, after the announcement of the "China Initiative", both domestic academic collaboration in China and international collaboration between China and non-western countries experienced rapid growth. |
| Keywords: | "China Initiative", International research collaboration, Technology war, US-China tensions, Academic freedom, Geopolitics |
| JEL: | O32 O36 O38 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:uwa:wpaper:25-11 |
| By: | Zhenyu Su; Paloma Taltavull de La Paz |
| Abstract: | Since the founding of the People's Republic of China, the real estate system's reform and the market's development have undergone several pivotal phases. These include the planned welfare housing allocation system before the reform and opening-up, the comprehensive commercialization of housing, the establishment of a housing security system, and the creation of a dual system of renting and purchasing. Following the implementation of monetary housing distribution in 1998, the real estate industry emerged as one of the pillars of China's national economy, addressing the housing needs of a significant portion of the population. However, with the rapid economic growth and increasing urbanization, the marketization of the housing system has introduced numerous new contradictions and issues that demand urgent resolution. The investment attributes of commercial housing have been excessively magnified, leading to a swift surge in residential prices and spawning a series of social and economic challenges, such as housing affordability. As the disparity in housing resource allocation widens, the gap between the rich and poor in society has also progressively expanded, with the real estate bubble becoming increasingly apparent. At the end of 2016, the Central Economic Work Conference first introduced the concept of "housing is for living, not for speculation, " followed by policies aimed at controlling house prices to prevent continuous increases. Post-pandemic, China faces a new wave of economic challenges with persistently weak domestic demand. Over the past year, the Chinese real estate market has experienced unprecedented stagnation. Despite the government's measures to stimulate housing demand, tangible results have yet to be achieved. This paper primarily employs a data regression model to deeply analyze the dual failure of government and market in developing China's real estate market, elucidate the mechanisms behind the formation of the real estate bubble, and explore how to prevent systemic financial risks. |
| Keywords: | China; housing market; New Regulations; Systemeic Risk |
| JEL: | R3 |
| Date: | 2025–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:arz:wpaper:eres2025_265 |
| By: | Simona Peter; Micha Jonathan Poddig; Jan Chr. Schlüter |
| Abstract: | 1. IntroductionOver the past four decades, China has undergone significant economic and social transformations due to its Reform and Opening-Up Policy. However, the dual structure of the economy, which combines market mechanisms with socialist institutional elements, continues to influence wealth distribution (Hu & Gao, 2023; Meng, 2007). Housing wealth, a major component of private household wealth in China, has been shaped by historical redistribution policies and subsequent market reforms (Piketty, Yang & Zucman, 2019; Li & Zhao, 2007; Wu, Bian & Zhang, 2019). Despite various studies on wealth inequality, only a few studies have examined the long-term effects of socialist institutions and subsequent privatization of the market, and via this channel its role in overall wealth accumulation (Zhang, Sun & Zhang, 2021; Long, 2023; Wang, Ren, Yi, Huang & Ma, 2020). This study aims to fill this research gap by analyzing the impact of institutional factors on housing wealth and their broader implications for wealth distribution in China.2. Research ObjectivesThis research seeks to address the following key questions: -How do institutional factors such as the household registration system (hukou system), employment in state-owned enterprises, and Communist Party membership influence housing wealth in China? -What is the impact of housing wealth on total household wealth? -How have these effects evolved over time, particularly in the context of recent institutional reforms?3. MethodologyThe study employs data from the China Family Panel Studies (CFPS) and the Statistical Yearbook of China (2010-2020) to analyze the long-term effects of institutional factors on housing wealth. A combination of Ordinary Least Squares (OLS) regression models and instrumental variable (IV) estimations is used to address potential endogeneity issues. Key instrumental variables include parental Hukou status, employment in state institutions, and Communist Party membership, which provide exogenous variation in housing wealth in order to estimate causal effects of household housing wealth on overall wealth. The study distinguishes between urban and rural areas to capture disparities in wealth distribution.4. Expected ContributionsBy investigating the relationship between institutional factors and housing wealth, this study aims to contribute to the broader discourse on wealth inequality in China. It seeks to determine whether institutional barriers, such as the Hukou system and employment in state-owned enterprises, continue to influence real estate ownership and wealth accumulation, and if these Effects became more pronounced over time.5. Potential ImplicationsIf the study finds that institutional factors significantly impact housing wealth, it would suggest the persistence of historical barriers to wealth accumulation. Conversely, if socialist institutions are shown to be only minor driver of wealth distribution, it would indicate a shift away from socialist-era inequalities. The findings of this study could provide valuable insights for policymakers, particularly in shaping housing finance policies, Hukou reforms, and broader wealth redistribution strategies. |
| Keywords: | Chinese Institutional Factors; Housing Wealth; Wealth Accumulation; Wealth Inequality |
| JEL: | R3 |
| Date: | 2025–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:arz:wpaper:eres2025_275 |
| By: | Carol H. Shiue; Wolfgang Keller |
| Abstract: | We study how elite power persisted through the Ming–Qing transition in Central China. Using genealogical microdata on married couples and their descendants, linked to measures of local elite influence, we estimate the effects of the Ming collapse (1368–1644) on families (people) and on regions (places). A family line-level treatment and control approach shows that elites experienced an immediate loss of influence, but their descendants recovered and consolidated elite status under the Qing (1644–1911). In contrast, a region-level design indicates that areas more heavily exposed to Ming-collapse destruction suffered persistent adverse outcomes. Evidence on career choice is consistent with a trauma-induced shift toward civil service examination careers, with stronger intergenerational transmission of exam-oriented norms in families more exposed to destruction. The results document adaptive persistence of elite families despite regime change, alongside lasting regional scarring, and highlight the role of cultural transmission in the persistence of elite status. |
| JEL: | N95 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34451 |
| By: | Mo, Zhexun; Kaeppel, Katharina; Schröder, Carsten; Yang, Li |
| Abstract: | This paper investigates how the German public perceives Chinese Foreign Direct Investment (FDI) amid escalating geopolitical tensions and deepening China–EU economic interdependence, complemented by evidence on Chinese perceptions of German FDI. We combine data from a large-scale survey experiment embedded in the 2023 German Socio-Economic Panel Innovation Sample (N = 2, 365) with a descriptive survey in China (N = 2, 000). German respondents substantially overestimate the scale of Chinese investment—believing it accounts for about 30% of total inward FDI, compared to an actual share of roughly 1%—and evaluate it significantly less favorably than investment from other EU countries or the United States. In contrast, Chinese respondents express consistently positive views of German FDI, revealing a pronounced asymmetry in mutual perceptions. To probe the origins and malleability of these views, we implement three randomized interventions in Germany: a factual correction of actual FDI shares and two narrative framings emphasizing either positive or negative aspects of Chinese investment. While factual information modestly improves perceptions of FDI’s economic benefits, none of the treatments meaningfully shift deeper, ideologically anchored attitudes toward Chinese investment. Quantile treatment effect analyses indicate, however, that these interventions reduce anti-China biases among respondents who are initially more receptive to Chinese FDI. Taken together, the results—consistent across direct evaluations, conjoint choice experiments, and Willingness-to-Accept (WTA) measures—underscore the limits of informational interventions in reshaping entrenched geopolitical or identity-based biases toward foreign investment. (Stone Center on Socio-Economic Inequality Working Paper) |
| Date: | 2025–10–29 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:74k3v_v1 |
| By: | Aaron S. Berman (California Institute of Technology); Saika Cer Askin (Chapman University, Economic Science Institute); Shapeng Jiang (Wuhan University); David Porter (Chapman University, Economic Science Institute); Jason Shachat (Chapman University, Economic Science Institute) |
| Abstract: | This study examines preference-based behavioral biases in social interactions between two distinct communities: students from Chapman University in the United States and Wuhan University in China. Using controlled experiments, participants interacted within or across communities in Dictator games. Two versions of the Dictator game were used: one where decisions were observable by both the experimenter and the recipient, and another where allocators could misreport outcomes with plausible deniability. Results revealed unexpected patterns, including similar allocation distributions across communities in the transparent task, and differing behaviors in the misreporting task, with Chapman allocators being more generous to out-group members and Wuhan allocators choosing more selfishly. The study challenges traditional theories of in-group favoritism and highlights the role of cultural differences and image concerns in decision-making. Findings contribute to understanding cross-cultural interactions, particularly in the context of increasing global connectivity. |
| Keywords: | In-group bias, Dictator game, Lying, Social image |
| JEL: | C92 D63 D91 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:chu:wpaper:25-12 |
| By: | Chao Lin |
| Abstract: | The mortgage right of rural real estate (RRE) is one of the legal and important property rights of the peasants, which is prohibited to be mortgaged because of rural housing land institute in China. In reality the financial demand of the peasants is huge in rural area, which need more invest into personal consumption, agriculture upgrading. So the central government starts the pilot reform of mortgage load of rural real estate, which is beneficial to activate the land asset, increase the financing channel, promoting the strategy of rural revitalization. It is found in previous literature that the level of financial literacy of farmers significantly affects the borrowing behavior. However, it is still unclear whether the financial literacy will also significantly affect the mortgage behavior of RRE and what the influencing mechanism is. The paper applies Logit regression model and regulatory effect model to reveal the influence mechanism of farmers' financial literacy on the mortgage loan of RRE based on data from Yongfeng pilot, and finds that: (1) The financial literacy of farmers has a significant positive impact on the participation behavior of RRE mortgage. The higher of the financial literacy of farmers, the more comprehensive the understanding of RRE mortgage, the more likely they are to participate in RRE mortgage; (2) Among the constituent factors of financial literacy, financial attention has the greatest impact on the mortgage, followed by risk identification ability, but the negative effect of financial ability is not significant. (3) The degree of homestead dependence of farmers plays a moderating role. The lower the homestead dependence of farmers, the more positive influence of financial literacy on the participation behavior of mortgage. Because farmers with low homestead dependence have less ""worries"" for mortgage, are more willing to apply for RRE mortgage. (4) Heterogeneity analysis show that the financial literacy has significantly influence on peasants owning urban house, but not for peasants without urban house |
| Keywords: | Financial literacy; Mortgage load; Rural homestead; Rural real estate |
| JEL: | R3 |
| Date: | 2025–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:arz:wpaper:eres2025_126 |
| By: | Keyu Xie; Wang Chongyu; Yumou Wang |
| Abstract: | The hukou system overhaul started in 2014 has reduced barriers to household mobility in China. The overhaul has increased labor mobility from rural to urban areas and across cities, which results in differential impacts on different cities' urban housing prices (""housing prices""). The differences in the urban population control and talent attraction policies in different cities amplify the differential impact. This study investigates the impact of policy implementation in different cities on housing prices. In particular, the study aims to examine the differential impacts on housing prices in mega and non-mega cities. The former has stringent control on the urban population even after the overhaul, while the barriers to household mobility in the latter are significantly reduced. The household movement after the overhaul is also affected by competition for talent in cities. The study conjectures that the hukou system overhaul has positive housing prices due to the growth in the urban population in the urban area. The effect is expected to be faster and stronger in mega cities despite the stringent control in these cities due to more job and business opportunities and the ability of these cities to attract high-income and wealthy households. For the non-mega cities, the impact of the strategy on housing prices is expected to be weaker than those in mega cities since these non-mega cities are less attractive in terms of job and business opportunities. The effects of the hukou system overhaul in these cities are primarily the result of rural-to-urban migration. Therefore, within non-mage cities, an increase in housing demand is anticipated to result from rural-to-urban migration. The impact of these migration on housing prices is likely to be much bigger in mega-cities due to their stringent control of the urban population and the policy of attracting high-income and wealthy talents, most of which are from urban areas in other cities rather than from rural areas. |
| Keywords: | Housing Prices; Policy; population mobility; Urban |
| JEL: | R3 |
| Date: | 2025–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:arz:wpaper:eres2025_258 |
| By: | Zhiguang Li (School of Economics and Management, Anhui University of Chinese Medicine and Key Laboratory of Data Science & Innovative Development of Traditional Chinese Medicine, Philosophy and Social Sciences of Anhui Province, Hefei, Anhui China); Yanrui Wu (University of Western Australia Business School, Perth, Australia); Fan Zhang (School of Economics and Management, Anhui University of Chinese Medicine, Hefei, Anhui China); Yuqing Zhang (School of Economics and Management, Anhui University of Chinese Medicine, Hefei, Anhui China) |
| Abstract: | This article examines the nexus between government attention to pension affairs, characteristics of officials-in-charge and performance or efficiency of China’s public pension funds (PPFs). It uses the fuzzy set qualitative comparative analysis and data of government attention to pension affairs and characteristics of PPF officials from 20 provinces during the period of 2015-2019. The research results show that four configurations namely promotion-driven, resource-endowment-driven, government-led and seniority & localization-empowerment pathway are associated with high efficiency of PPFs. There are also four configurations namely poor professionalism, working efficiency stagnation, lack of local emotional attachment, and policy failure which lead to low efficiency. In addition, the high or low level of efficiency is the result of multiple factors working together rather than a single dominant factor. The professionalism, relevant working experience and local emotional attachment of the officials in charge of PPFs could compensate for the institutional gap due to low government attention to pension affairs. Furthermore, there exists a potential substitution relationship among factors that affect the performance of PPFs. Finally, the efficiency of PPFs is influenced by multiple complex factors that vary significantly across both temporal and spatial dimensions. Policy design should take into account of the diversity of regional economic development levels, official characteristics, and local institutional environments so that flexible and targeted management approaches are adopted to promote the efficient operation of PPFs. Policy makers should pay attention to temporal factors and regional disparities and formulate flexible and adaptive governance strategies tailored to the specific conditions and characteristics of individual provinces. |
| Keywords: | Public pension funds, Efficiency, Government attention, Official characteristics, fsQCA, Dynamic QCA, China |
| JEL: | H55 J32 D73 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:uwa:wpaper:25-10 |
| By: | Gaurav Khanna |
| Abstract: | This paper examines the rise of high-skill migration from Asia to the United States over the past three decades and its consequences for both sending and receiving economies. Between 1990 and 2019, migrants from five Asian countries—India, China, South Korea, Japan, and the Philippines—accounted for over one-third of the growth in US software developers and a quarter of the increase in scientists, engineers, and physicians. Drawing on census microdata, visa records, and administrative sources, I show how US demand for talent in information technology, higher education, and healthcare interacted with Asia’s demographic and educational transformations to generate this migration boom. Policy reforms (notably the H-1B, F-1, and J-1 visa programs) and sectoral shifts—such as the internet revolution, declining public support for universities, and aging-related healthcare demand—created persistent needs for foreign students and workers. Asian economies were uniquely positioned to meet this demand through rapid tertiary expansion, strong STEM institutions, English proficiency, and diaspora networks. These inflows boosted US innovation, entrepreneurship, and service-sector productivity while fostering “brain gain” and “brain circulation” in Asia. Together, these trends reveal how talent flows from Asia have become central to the structure and growth of the modern US economy. |
| JEL: | J24 J60 O34 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34449 |