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Measures of Relative and Absolute Convergence and Pro-poor Growth with an Illustration based on China (2010–2018) 以中国为例说明相对和绝对趋同与扶贫增长的衡量标准（2010-2018 年）
IF 3.1 2区 经济学
China & World Economy Pub Date : 2024-03-13 DOI: 10.1111/cwe.12524
Elena Bárcena-Martin, Jacques Silber, Yuan Zhang
{"title":"Measures of Relative and Absolute Convergence and Pro-poor Growth with an Illustration based on China (2010–2018)","authors":"Elena Bárcena-Martin,&nbsp;Jacques Silber,&nbsp;Yuan Zhang","doi":"10.1111/cwe.12524","DOIUrl":"https://doi.org/10.1111/cwe.12524","url":null,"abstract":"<p>Income mobility is a key issue for understanding the process of economic growth and distributional change. Some economists have used the concept of “pro-poor growth” to examine, with individual-level panel data, whether the poor benefit more than the rich from economic growth by tracking the extent of income mobility among different population subgroups. There is also literature in macroeconomics on the measurement of convergence. This paper introduces population-weighted relative and absolute indices of mobility, convergence, and pro-poor growth; it also distinguishes between anonymous and nonanonymous approaches to these issues. The empirical analysis is based on Chinese panel data for the period 2010–2018. In both absolute and relative terms, income growth in China was greater for individuals with an initially lower income but only for lower income deciles in relative terms. There was also an overall increase in individual welfare from anonymous and nonanonymous perspectives, which was higher among younger individuals. The welfare of the poor did not increase more than that of the nonpoor. These results shed light on the evolution of income distribution in China during the past decade's rapid economic growth.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"32 2","pages":"1-41"},"PeriodicalIF":3.1,"publicationDate":"2024-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140123777","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Climbing the Export Quality Ladder: Role of Human Capital 攀登出口质量阶梯：人力资本的作用
IF 3.1 2区 经济学
China & World Economy Pub Date : 2024-03-13 DOI: 10.1111/cwe.12528
Xiaogang He, Ruifeng Teng, Dawei Feng
{"title":"Climbing the Export Quality Ladder: Role of Human Capital","authors":"Xiaogang He,&nbsp;Ruifeng Teng,&nbsp;Dawei Feng","doi":"10.1111/cwe.12528","DOIUrl":"https://doi.org/10.1111/cwe.12528","url":null,"abstract":"<p>This study assesses the effect of human capital expansion on China's export product quality. It employs the difference-in-differences (DID) framework based on a quasi-natural experiment investigating the 1999 higher education enrollment expansion as the exogenous policy shock. The empirical results confirm that human capital expansion appreciably improved the quality of China's export products. Human capital expansion promoted the transformation and upgrading of old products and the development of new products in term of intensive margin; it strengthened the endowment advantages of incumbent high-quality export enterprises while preventing low-quality enterprises from entering the market through price competition on the extensive margin. This prevented quality decline. Further, the study reveals that the improvement effect driven by human capital came from both innovation-induced and managerial efficiency improvement channels and was more prominent for large or foreign-funded enterprises in the eastern region. Our findings highlight the role of human capital in China's remarkable export performance from an endogenous growth perspective.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"32 2","pages":"125-159"},"PeriodicalIF":3.1,"publicationDate":"2024-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140123740","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
A Structural Measurement of the Valuation Effect of China's External Assets: Method and Application 中国对外资产估值效应的结构测度：方法与应用
IF 3.1 2区 经济学
China & World Economy Pub Date : 2024-03-13 DOI: 10.1111/cwe.12527
Guowei Cai, Xiaowei Chen, Xun Wang
{"title":"A Structural Measurement of the Valuation Effect of China's External Assets: Method and Application","authors":"Guowei Cai,&nbsp;Xiaowei Chen,&nbsp;Xun Wang","doi":"10.1111/cwe.12527","DOIUrl":"https://doi.org/10.1111/cwe.12527","url":null,"abstract":"<p>Existing research on the measurement of the valuation effect mainly follows the residual method proposed by Lane and Milesi-Ferretti (2001). This cannot be used to perform structural decomposition. We propose an aggregation approach rather than the residual method to measure structurally the investment flow and valuation effect of China's external assets. The results indicate that the valuation effect of China's external assets has been highly volatile and it was negative during the pandemic period. The structural decomposition shows that portfolio investment and direct investment made the main contributions to the valuation effect. The impact of exchange rates on the valuation effect has generally been higher than that of asset price in terms of direct investment and total external assets but the opposite has been true for portfolio investment. China's outward investments are currently more inclined to Asian countries and a few European countries but inflows to China still mainly come from developed countries.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"32 2","pages":"97-124"},"PeriodicalIF":3.1,"publicationDate":"2024-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140123743","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Foreign Ownership and International Trade Performance in China 中国的外资所有权与国际贸易绩效
IF 3.1 2区 经济学
China & World Economy Pub Date : 2024-03-13 DOI: 10.1111/cwe.12525
Zhiyuan Li, Yichun Lin, Mingyao Xu
{"title":"Foreign Ownership and International Trade Performance in China","authors":"Zhiyuan Li,&nbsp;Yichun Lin,&nbsp;Mingyao Xu","doi":"10.1111/cwe.12525","DOIUrl":"https://doi.org/10.1111/cwe.12525","url":null,"abstract":"<p>We investigate the causal relationship between foreign ownership and international trade performance by comparing foreign-acquired firms with similar domestic-acquired firms in China with regard to changes in their post-acquisition international trade performance. Our findings indicate that foreign ownership significantly enhanced the probability of both exporting and importing, and strongly increased trade value. Foreign ownership took effect from the year of the acquisition and persisted for at least 2 years. It stimulated both processing trade and ordinary trade, and expanded products and trading partners. Post-acquisition trade performance also exhibited heterogeneity based on the different pre-acquisition and post-acquisition ownership. As for the underlying mechanisms, we show that firms experienced significant output expansion, increased export dependence, and eased financial constraints after foreign acquisition.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"32 2","pages":"42-72"},"PeriodicalIF":3.1,"publicationDate":"2024-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140123778","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Catalysts or Barriers? The Impacts of Natural Disasters on Internal Labor Migration in China 催化剂还是障碍？自然灾害对中国国内劳动力迁移的影响
IF 3.1 2区 经济学
China & World Economy Pub Date : 2024-01-31 DOI: 10.1111/cwe.12523
Xingyu Zhou, Liu Han, Jidong Chen
{"title":"Catalysts or Barriers? The Impacts of Natural Disasters on Internal Labor Migration in China","authors":"Xingyu Zhou,&nbsp;Liu Han,&nbsp;Jidong Chen","doi":"10.1111/cwe.12523","DOIUrl":"https://doi.org/10.1111/cwe.12523","url":null,"abstract":"<p>This paper discusses ways in which negative economic shocks captured by natural disasters can shape internal labor migration in China. The impact of negative economic shocks on migration depends on the combination of two opposite driving forces: (i) negative economic shocks can make staying in the affected area less profitable, thus enhancing returns to migration; (ii) the shocks can make it more difficult to migrate out, thus inducing a higher fixed cost of migration. Based on a nationwide dataset of China, this paper shows that when natural disasters were not severe, they caused migration out of rural areas. With sufficiently severe damage, however, the negative effect of natural disasters could be mitigated by villages' prior migrant networks. Specifically, with a severe shock, only clan members were able to migrate in response to natural disasters and enjoyed the complementary effects of prior migrant networks, as they could receive more help from social capital.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"32 2","pages":"160-199"},"PeriodicalIF":3.1,"publicationDate":"2024-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140123810","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Whether to Abolish or Introduce Dual Regulation as Trade and Environmental Policy? 是废除还是引入作为贸易和环境政策的双重监管？
IF 3.1 2区 经济学
China & World Economy Pub Date : 2024-01-29 DOI: 10.1111/cwe.12516
Yoshihiro Hamaguchi
{"title":"Whether to Abolish or Introduce Dual Regulation as Trade and Environmental Policy?","authors":"Yoshihiro Hamaguchi","doi":"10.1111/cwe.12516","DOIUrl":"https://doi.org/10.1111/cwe.12516","url":null,"abstract":"<p>China, which has already introduced an environmental tax in an effort to decarbonize, has recently begun emissions trading and is using two environmental policies in tandem, but there are concerns about the impact on growth and trade. Trade and environmental policies affect firms' entry and exit, resulting in changes in aggregate productivity and pollution emissions. This study compares the impacts of single regulation and dual regulation on welfare, using a research-and-development based growth model with heterogeneous firms. Under single regulation, the cleansing effect of trade liberalization could be undermined. Under dual regulation, trade liberalization decreases pollution and improves average productivity whereas decreasing total permits reduces pollution. From the perspective of improving welfare it is desirable to choose dual regulation because trade liberalization can reduce total pollution emissions via the cleansing effect of trade liberalization.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"32 1","pages":"57-95"},"PeriodicalIF":3.1,"publicationDate":"2024-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139655401","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Evolution of China's Role in the Structure of Global Carbon Emission Transfers: An Empirical Analysis Based on Network Governance 中国在全球碳排放转移结构中的角色演变：基于网络治理的实证分析
IF 3.1 2区 经济学
China & World Economy Pub Date : 2024-01-29 DOI: 10.1111/cwe.12518
Bingbing Zhang, Lelan Kong, Zhehong Xu, Chuanwang Sun
{"title":"Evolution of China's Role in the Structure of Global Carbon Emission Transfers: An Empirical Analysis Based on Network Governance","authors":"Bingbing Zhang,&nbsp;Lelan Kong,&nbsp;Zhehong Xu,&nbsp;Chuanwang Sun","doi":"10.1111/cwe.12518","DOIUrl":"https://doi.org/10.1111/cwe.12518","url":null,"abstract":"<p>This paper reconsiders the roles of China and some developed countries in the network of carbon emission transfers via international trade in value added from a new perspective of network governance. Network search intensity (NSI) and the extended gravity model are used with cross-country panel data to analyze the mechanism of China's engagement in network governance of carbon emission transfers. The results show that from 2000 to 2009, China was a net exporter of carbon emissions, even though it shifted from the semi-periphery to the core in the network of carbon emissions embodied in imports. Meanwhile, NSI had a significant positive impact on carbon emissions embodied in exports. Given China's important role in the global production network and division of labor, NSI may also affect industrial structure and the quality of the ecological environment to a large extent. This study analyses the network governance mechanism of China's participation in global carbon transfers. The results suggest that the technical complexity of export products and product heterogeneity do not change the positive impact of NSI on carbon emissions.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"32 1","pages":"130-166"},"PeriodicalIF":3.1,"publicationDate":"2024-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139655446","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Does City Shape Affect China's Economic Development? 城市形态会影响中国的经济发展吗？
IF 3.1 2区 经济学
China & World Economy Pub Date : 2024-01-29 DOI: 10.1111/cwe.12515
Wei Zou, Fei Yang
{"title":"Does City Shape Affect China's Economic Development?","authors":"Wei Zou,&nbsp;Fei Yang","doi":"10.1111/cwe.12515","DOIUrl":"https://doi.org/10.1111/cwe.12515","url":null,"abstract":"<p>This paper constructs a general equilibrium spatial urban model and measures city geometric compactness using the patch-shape index based on evidence from satellite imagery and basic vector maps of China. It adopts the ordinary least squares and instrumental variable approaches to examine the effect of city shape on the urban development of 279 Chinese cities at or above the prefecture level. The empirical results show that there was a significant negative correlation between city shape and economic outcomes. Specifically, every 1 percentage point increase in the patch-shape index led to a decrease in city-scale GDP by 0.009 percent, housing prices by 0.044 percent, and wages by 0.024 percent. More compact urban layouts attracted an inflow of households and firms, stimulated city economic growth, and were associated with increased housing prices and wage rates. The paper considers the cities' initial conditions, trends in population changes (expanding, shrinking, and stagnant cities), and geographic factors, and finds that the results are robust. An array of policy implications can be drawn from the research.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"32 1","pages":"21-56"},"PeriodicalIF":3.1,"publicationDate":"2024-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139655399","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Industrial Policy, Product Switching, and Export Performance 产业政策、产品转换和出口绩效
IF 3.1 2区 经济学
China & World Economy Pub Date : 2024-01-29 DOI: 10.1111/cwe.12519
Jiemiao Dong, Zhuangxiong Yu, Xunpeng Shi, Yang Yang
{"title":"Industrial Policy, Product Switching, and Export Performance","authors":"Jiemiao Dong,&nbsp;Zhuangxiong Yu,&nbsp;Xunpeng Shi,&nbsp;Yang Yang","doi":"10.1111/cwe.12519","DOIUrl":"https://doi.org/10.1111/cwe.12519","url":null,"abstract":"<p>Industrial policy can promote economic growth and industrial upgrading by encouraging enterprises to adopt product switching. By utilizing comprehensive industrial policies and customs trade databases from 2000 to 2015, this paper found that firms with product ranges within policy-supported areas were more active in product switching. Among all the enterprises that adopted the product switching, those with nonmain products in policy-supported areas were more inclined to adjust their main product. They tended to transform nonmain product to main product as opposed to introducing new main product in order to effectively leverage their export experience and established technology. Whereas, for enterprises whose main product was within the policy-supported areas, their tendency to switch products significantly decreased. Mechanism analysis suggested that policy support, by alleviating industry distress and mitigating excessive market competition, encouraged firms to switch products to areas with policy backing. Moreover, we estimated trade performance after product switching from the perspective of product unit price and export product quality. We found that for firms whose main product was in policy-supported areas, such switching was more likely to result in “low price, high quality” exports, whereas for firms with nonmain products in supported areas, such switching was more likely to lead to “high price, low quality” exports, which indicates that firms switching to policy-supported areas need to continuously develop their core competencies and operate effectively to improve their production performance.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"32 1","pages":"167-196"},"PeriodicalIF":3.1,"publicationDate":"2024-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139655447","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Sister-city Ties and Chinese Outward Foreign Direct Investment: A Spatial Econometric Analysis 姊妹城市关系与中国对外直接投资：空间计量经济学分析
IF 3.1 2区 经济学
China & World Economy Pub Date : 2024-01-29 DOI: 10.1111/cwe.12521
Youxing Huang, Meixia Dong, Yanping Zhao
{"title":"Sister-city Ties and Chinese Outward Foreign Direct Investment: A Spatial Econometric Analysis","authors":"Youxing Huang,&nbsp;Meixia Dong,&nbsp;Yanping Zhao","doi":"10.1111/cwe.12521","DOIUrl":"https://doi.org/10.1111/cwe.12521","url":null,"abstract":"<p>This paper employs dynamic spatial econometric methods to analyze the impact of the sister-city relationship on Chinese outward foreign direct investment (OFDI) using a linked country-level dataset from 2003 to 2016. The results show strong and robust evidence that the sister-city relationship has been a crucial OFDI location determinant in host countries and their neighbors. Specifically, the sister-city tie between China and the host country has stimulated Chinese OFDI in host countries. Moreover, Chinese OFDI in host countries would be reduced if China concluded sister-city ties with their neighbors to which we refer as the neighboring effect. Further mechanism tests show that sister cities have promoted OFDI in host countries via four channels: reducing political risk, decreasing information asymmetry, narrowing institutional distance, and mitigating cultural differences. This tendency for sister-city links to promote OFDI has varied substantially depending on OFDI entry modes (i.e., greenfield or cross-border mergers and acquisitions), motivation (i.e., resource-, market-, technology-, or efficiency-oriented OFDI), and Sino–foreign geographical relationships (i.e., Belt and Road Initiative countries or other countries).</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"32 1","pages":"231-258"},"PeriodicalIF":3.1,"publicationDate":"2024-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139655449","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
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