Frontiers of Economics in China最新文献_第8页

Surviving Unstable Property Rights in Early Modern China: A Case Study of Young Brother Bank 中国近代早期不稳定产权的存续——以“青年银行”为例

IF 0.8 4区经济学

Frontiers of Economics in China Pub Date : 2018-09-30 DOI: 10.3868/s060-007-018-0024-8

Jinsong Zhao, Hao Pang

引用次数: 0

A Multi-Layer System and Its Features: Reconceptualizing the Monetary Regime of Late Qing and Modern China 一个多层体系及其特征——对晚清近代中国货币制度的重新认识

IF 0.8 4区经济学

Frontiers of Economics in China Pub Date : 2018-09-30 DOI: 10.3868/S060-007-018-0021-7

Ho-don Yan, Zhijian Qiao, Chen Xu

{"title":"A Multi-Layer System and Its Features: Reconceptualizing the Monetary Regime of Late Qing and Modern China","authors":"Ho-don Yan, Zhijian Qiao, Chen Xu","doi":"10.3868/S060-007-018-0021-7","DOIUrl":"https://doi.org/10.3868/S060-007-018-0021-7","url":null,"abstract":"This essay aims to reconceptualize the monetary regime of late Qing and modern China as a multilayer system of currencies and examine the features and logics of its operation from the 16th century to early 20th century. We argue that this system consists of a variety of silver and copper currencies, each occupying a particular layer in the structure and each satisfying a specific market demand. Analyzing the production and circulation of copper and silver currencies, we first trace their evolution from the Qing to the Republican era and demonstrate the multi-layer currency structure persisted in China across the modernizing changes that took place at the end of the 19th century. Second, using data drawn from gazetteers, this essay adopts a quantitative approach to empirically examine the mechanism and speed of interactions between the different layers of the monetary market and reveal the operational mechanism of the multi-layer system. We suggest that this multi-layer system, while bringing some efficiency loss, also constituted an effective institutional arrangement that helped to ensure the stability of the Chinese economy in tumultuous times.","PeriodicalId":44830,"journal":{"name":"Frontiers of Economics in China","volume":"13 1","pages":"436-457"},"PeriodicalIF":0.8,"publicationDate":"2018-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46580697","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Who Defended Monetary Stability in a Specie Regime? Evidence from the Chinese History 谁在Specie政权中捍卫了货币稳定？来自中国历史的证据

IF 0.8 4区经济学

Frontiers of Economics in China Pub Date : 2018-09-30 DOI: 10.3868/S060-007-018-0020-0

Sheng Qian, LeminWu

引用次数: 0

Urbanization in China, ca. 1100–1900 中国的城市化，约1100–1900年

IF 0.8 4区经济学

Frontiers of Economics in China Pub Date : 2018-09-30 DOI: 10.3868/S060-007-018-0018-9

Yi Xu, B. Leeuwen, Jan Luiten van Zanden

引用次数: 28

How Did the Chinese Shanxi Merchants Determine the Remittance Fees? Micro Firm Analysis of Rishengchang Piaohao 中国晋商如何确定汇款费用?日升厂票号微观企业分析

IF 0.8 4区经济学

Frontiers of Economics in China Pub Date : 2018-09-30 DOI: 10.3868/S060-007-018-0023-1

Meng-Wen Wu

{"title":"How Did the Chinese Shanxi Merchants Determine the Remittance Fees? Micro Firm Analysis of Rishengchang Piaohao","authors":"Meng-Wen Wu","doi":"10.3868/S060-007-018-0023-1","DOIUrl":"https://doi.org/10.3868/S060-007-018-0023-1","url":null,"abstract":"This paper examines the Chinese Shanxi piaohao, arguably the most important Chinese indigenous financial institutions in the 19th century. Concentrating on their business strategy, the study constructs a unique firm level set of data of the Rishengchang piaohao and explores the piaohaoi¯s types of client, silver and drafts it dealt in, branch distributions, and terms to cash drafts. Besides this, this article also designs multiple linear regressions and identifies elements that determined remittance fees. My study reveals that, when establishing a new branch, the Rishengchang took the consideration of business conditions as its priority and gradually expanded from cities at prefecture level to those in counties and towns. A growth of business sites also led to an increase in the types of client, silver and draft it accepted. Moreover, as it developed, the interval for the Rishengchang to cash a draft shortened by half. When estimating the remittance functions, my study found that as the amount of silver being remitted increased, the length of time to cash a draft extended and as the average distance between two branches increased, the Rishengchang would charge more in remittance fees. i°Commonersi± and i°gentryi± would pay more than i°firms,i± while i°other piaohaoi± would pay lower remittance fees. The drafts sent by telegram would also be much more expensive than those sent by letters or with papers. As the first detailed study on one of the most important and enduring firms in China, this work not only fills the data void where this subject is concerned, but also delineates the historical change of the piaohaoi¯s clients, drafts, business territories and gives profound insights into the rise of the Shanxi piaohao.","PeriodicalId":44830,"journal":{"name":"Frontiers of Economics in China","volume":"13 1","pages":"484-504"},"PeriodicalIF":0.8,"publicationDate":"2018-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43953434","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Conquering China’s Unbalanced and Inadequate Development: Macroeconomic Outlook, Policy Simulations, and Reform Implementation—A Summary of Annual SUFE Macroeconomic Report (2017–2018) 克服中国发展不平衡不充分：宏观经济展望、政策模拟与改革实施——上海财经大学2017—2018年度宏观经济报告综述

IF 0.8 4区经济学

Frontiers of Economics in China Pub Date : 2018-05-02 DOI: 10.3868/S060-007-018-0011-0

K. Huang, Lei Ning, Guoqiang Tian

{"title":"Conquering China’s Unbalanced and Inadequate Development: Macroeconomic Outlook, Policy Simulations, and Reform Implementation—A Summary of Annual SUFE Macroeconomic Report (2017–2018)","authors":"K. Huang, Lei Ning, Guoqiang Tian","doi":"10.3868/S060-007-018-0011-0","DOIUrl":"https://doi.org/10.3868/S060-007-018-0011-0","url":null,"abstract":"Leaving year 2017 Chinai¯s macroeconomy is continuously characterized by unbalanced and inadequate development. Whereas some aggregate indicators have shown improvement over the year, the cumulative growth rates in consumption and fixed asset investment have continued their downward trajectories. Worsening income inequality and resource misallocations, both between secondary and tertiary industries, and within the latter, pose serious challenges, let alone the systemic risk associated with the flourishing shadow banking system, rapid credit growth and debt overhang that weigh on the Chinese economy like the Sword of Damocles. This summary report highlights both the status quo and the consequences of the unbalanced and inadequate development embodied in Chinai¯s persistently distorted economic structure, and the role of deepening reforms of the institutions and governance in resolving the problems. Our analyses based on IAR-CMM model provide a unified framework for addressing Chinai¯s short-, medium-, and long-term issues in an internally coherent manner. Looking into year 2018, our benchmark projection of real GDP growth rate is 6.7% (6.41% using more reliable rather than the official data). Alternative scenario analyses and policy simulations are conducted to reflect various aspects of the economic challenges in the short to long runs. Through the lens of these analyses we conclude that rule-of-law based and market-oriented structural reforms should continue to hold a center stage in Chinai¯s transition from a phase of high-speed but unbalanced growth, to a stage of balanced and adequate high-quality development.","PeriodicalId":44830,"journal":{"name":"Frontiers of Economics in China","volume":"13 1","pages":"147-170"},"PeriodicalIF":0.8,"publicationDate":"2018-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47120445","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 5

Agricultural Roots in Intergenerational Transfers in China 中国代际转移中的农业根源

IF 0.8 4区经济学

Frontiers of Economics in China Pub Date : 2018-05-02 DOI: 10.3868/s060-007-018-0015-8

Yan Liu, Qingqing Zong

{"title":"Agricultural Roots in Intergenerational Transfers in China","authors":"Yan Liu, Qingqing Zong","doi":"10.3868/s060-007-018-0015-8","DOIUrl":"https://doi.org/10.3868/s060-007-018-0015-8","url":null,"abstract":"Economists have been interested in the motivations of intergenerational transfers, for different motivations affect the effectiveness of anti-poverty public transfers. However, onei¯s motivation is largely shaped by culture and social conventions. This paper sheds light on the influence of rice cultivation in intergenerational transfers in China. This is also the first time that economists consider cultural factors in the study of intergenerational transfers. Cultivating rice requires elaborate irrigation systems and large amounts of labor input so that rice farmers have to cooperate extensively with their neighbors, which has gradually shaped peoplei¯s value to be more inter-dependent. Based on micro-level data from CHARLS and sub-national rice data from China, our empirical results show strong evidence that individuals from rice regions are more likely to provide economic support for their parents. A one-percentage point increase in the share of rice in the total grain planting area will raise transfer incidence by 0.2¨C0.4 percentage points, and rice region residents transfer on average 300¨C400 yuan more in 2011 and about 1,000 yuan more in 2013 to their parents than those from wheat regions. Meanwhile they are more inclined to rely on their adult children for elderly support. Urban citizens are less affected. Using instrumental variable estimation, we are able to prove the effect is causal. With future continued deepening of population aging in China, relying on children for old age support may become more and more unrealistic, the government needs to coordinate the relationship between public transfer and private transfer to ensure the quality of life for the elderly.","PeriodicalId":44830,"journal":{"name":"Frontiers of Economics in China","volume":"13 1","pages":"249-280"},"PeriodicalIF":0.8,"publicationDate":"2018-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42022929","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Does the Entrepreneurship of the Parents Affect the Opportunities of their Offspring’s Entrepreneurship? Empirical Analysis Based on the CGSS 2010–2013 Data 父母的创业是否影响子女创业的机会？基于CGSS 2010-2013年数据的实证分析

IF 0.8 4区经济学

Frontiers of Economics in China Pub Date : 2018-05-02 DOI: 10.3868/S060-007-018-0013-4

Yongmei Hu, Yun Xing

{"title":"Does the Entrepreneurship of the Parents Affect the Opportunities of their Offspring’s Entrepreneurship? Empirical Analysis Based on the CGSS 2010–2013 Data","authors":"Yongmei Hu, Yun Xing","doi":"10.3868/S060-007-018-0013-4","DOIUrl":"https://doi.org/10.3868/S060-007-018-0013-4","url":null,"abstract":"The whole society is paying close attention to i°entrepreneurship,i± which urges researchers to find an explanatory perspective relatively independent and with causality on the intergenerational transfer of entrepreneurship. Based on the data of the Chinese General Social Survey (short for CGSS) during the years 2010¨C2013, this paper analyzes how parentsi¯ entrepreneurship affects the probability of their offspringi¯s entrepreneurship, and the results show that compared with the offspring of parents who did not start their own business, those whose parents did are more likely to choose to start their own business. In view of historical facts such as the i°lay-off wavei± during Chinai¯s transformation into a market economy, we use i°the annual number of unemployed back to work,i± a provincial-level indicator, in the 1990s as an instrumental variable to correct possible endogenous problems. We find that parentsi¯ entrepreneurship has significant positive effects on the probability of their offspringi¯s entrepreneurship, which may result from the informal transfer of human capital and wealth from parents to their offspring.","PeriodicalId":44830,"journal":{"name":"Frontiers of Economics in China","volume":"13 1","pages":"196-222"},"PeriodicalIF":0.8,"publicationDate":"2018-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46322066","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Effects of Macroeconomic Policies in a Mercantilist Economy 重商主义经济中宏观经济政策的影响

IF 0.8 4区经济学

Frontiers of Economics in China Pub Date : 2018-05-02 DOI: 10.3868/S060-007-018-0012-7

Gaowang Wang, H. Zou

引用次数: 0

Rethinking Globalization in the Trump Era: US-China Relations 重新思考特朗普时代的全球化：美中关系

IF 0.8 4区经济学

Frontiers of Economics in China Pub Date : 2018-05-02 DOI: 10.3868/S060-007-018-0010-3

J. Stiglitz

引用次数: 20