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  Subjects -> BUSINESS AND ECONOMICS (Total: 3080 journals)
    - ACCOUNTING (90 journals)
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    - BUSINESS AND ECONOMICS (1139 journals)
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BUSINESS AND ECONOMICS (1139 journals)                  1 2 3 4 5 6 | Last

Showing 1 - 200 of 1566 Journals sorted alphabetically
4OR: A Quarterly Journal of Operations Research     Hybrid Journal   (Followers: 9)
Abacus     Hybrid Journal   (Followers: 11)
Accounting Forum     Hybrid Journal   (Followers: 22)
Acta Amazonica     Open Access   (Followers: 3)
Acta Commercii     Open Access   (Followers: 2)
Acta Oeconomica     Full-text available via subscription   (Followers: 2)
Acta Scientiarum. Human and Social Sciences     Open Access   (Followers: 4)
Acta Universitatis Danubius. Œconomica     Open Access  
Acta Universitatis Nicolai Copernici Zarządzanie     Open Access   (Followers: 3)
AD-minister     Open Access   (Followers: 2)
ADR Bulletin     Open Access   (Followers: 5)
Advances in Developing Human Resources     Hybrid Journal   (Followers: 21)
Advances in Economics and Business     Open Access   (Followers: 12)
AfricaGrowth Agenda     Full-text available via subscription   (Followers: 1)
African Affairs     Hybrid Journal   (Followers: 57)
African Development Review     Hybrid Journal   (Followers: 33)
African Journal of Business and Economic Research     Full-text available via subscription   (Followers: 1)
African Journal of Business Ethics     Open Access   (Followers: 7)
African Review of Economics and Finance     Open Access   (Followers: 3)
Afro-Asian Journal of Finance and Accounting     Hybrid Journal   (Followers: 7)
Afyon Kocatepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi     Open Access   (Followers: 3)
Agronomy     Open Access   (Followers: 11)
Akademika : Journal of Southeast Asia Social Sciences and Humanities     Open Access   (Followers: 4)
Alphanumeric Journal : The Journal of Operations Research, Statistics, Econometrics and Management Information Systems     Open Access   (Followers: 4)
American Economic Journal : Applied Economics     Full-text available via subscription   (Followers: 126)
American Journal of Business     Hybrid Journal   (Followers: 15)
American Journal of Business and Management     Open Access   (Followers: 51)
American Journal of Business Education     Open Access   (Followers: 10)
American Journal of Economics and Business Administration     Open Access   (Followers: 24)
American Journal of Economics and Sociology     Hybrid Journal   (Followers: 28)
American Journal of Evaluation     Hybrid Journal   (Followers: 12)
American Journal of Finance and Accounting     Hybrid Journal   (Followers: 18)
American Journal of Health Economics     Full-text available via subscription   (Followers: 13)
American Journal of Industrial and Business Management     Open Access   (Followers: 23)
American Journal of Medical Quality     Hybrid Journal   (Followers: 7)
American Law and Economics Review     Hybrid Journal   (Followers: 26)
ANALES de la Universidad Central del Ecuador     Open Access   (Followers: 1)
Annales de l'Institut Henri Poincare (C) Non Linear Analysis     Full-text available via subscription   (Followers: 1)
Annals in Social Responsibility     Full-text available via subscription  
Annals of Finance     Hybrid Journal   (Followers: 28)
Annals of Operations Research     Hybrid Journal   (Followers: 8)
Annual Review of Economics     Full-text available via subscription   (Followers: 29)
Applied Developmental Science     Hybrid Journal   (Followers: 3)
Applied Economics     Hybrid Journal   (Followers: 44)
Applied Economics Letters     Hybrid Journal   (Followers: 28)
Applied Economics Quarterly     Full-text available via subscription   (Followers: 10)
Applied Financial Economics     Hybrid Journal   (Followers: 23)
Applied Mathematical Finance     Hybrid Journal   (Followers: 7)
Applied Stochastic Models in Business and Industry     Hybrid Journal   (Followers: 5)
Arab Economic and Business Journal     Open Access   (Followers: 3)
Archives of Business Research     Open Access   (Followers: 5)
Arena Journal     Full-text available via subscription   (Followers: 1)
Argomenti. Rivista di economia, cultura e ricerca sociale     Open Access   (Followers: 2)
ASEAN Economic Bulletin     Full-text available via subscription   (Followers: 5)
Asia Pacific Business Review     Hybrid Journal   (Followers: 5)
Asia Pacific Journal of Human Resources     Hybrid Journal   (Followers: 318)
Asia Pacific Viewpoint     Hybrid Journal  
Asia-Pacific Journal of Business Administration     Hybrid Journal   (Followers: 3)
Asia-Pacific Journal of Operational Research     Hybrid Journal   (Followers: 3)
Asian Business Review     Open Access   (Followers: 2)
Asian Case Research Journal     Hybrid Journal   (Followers: 1)
Asian Development Review     Open Access   (Followers: 14)
Asian Economic Journal     Hybrid Journal   (Followers: 8)
Asian Economic Papers     Hybrid Journal   (Followers: 7)
Asian Economic Policy Review     Hybrid Journal   (Followers: 3)
Asian Journal of Accounting and Governance     Open Access   (Followers: 3)
Asian Journal of Business Ethics     Hybrid Journal   (Followers: 7)
Asian Journal of Social Sciences and Management Studies     Open Access   (Followers: 6)
Asian Journal of Sustainability and Social Responsibility     Open Access  
Asian Journal of Technology Innovation     Hybrid Journal   (Followers: 8)
Asian-pacific Economic Literature     Hybrid Journal   (Followers: 5)
AStA Wirtschafts- und Sozialstatistisches Archiv     Hybrid Journal   (Followers: 5)
Atlantic Economic Journal     Hybrid Journal   (Followers: 15)
Australasian Journal of Regional Studies, The     Full-text available via subscription   (Followers: 2)
Australian Cottongrower, The     Full-text available via subscription   (Followers: 1)
Australian Economic Papers     Hybrid Journal   (Followers: 22)
Australian Economic Review     Hybrid Journal   (Followers: 6)
Australian Journal of Maritime and Ocean Affairs     Hybrid Journal   (Followers: 10)
Balkan Region Conference on Engineering and Business Education     Open Access   (Followers: 1)
Baltic Journal of Real Estate Economics and Construction Management     Open Access   (Followers: 1)
Banks in Insurance Report     Hybrid Journal   (Followers: 1)
BBR - Brazilian Business Review     Open Access   (Followers: 4)
Benchmarking : An International Journal     Hybrid Journal   (Followers: 11)
BER : Consumer Confidence Survey     Full-text available via subscription   (Followers: 4)
BER : Economic Prospects : An Executive Summary     Full-text available via subscription  
BER : Economic Prospects : Full Survey     Full-text available via subscription   (Followers: 2)
BER : Intermediate Goods Industries Survey     Full-text available via subscription   (Followers: 1)
BER : Manufacturing Survey : Full Survey     Full-text available via subscription   (Followers: 2)
BER : Motor Trade Survey     Full-text available via subscription   (Followers: 1)
BER : Retail Sector Survey     Full-text available via subscription   (Followers: 2)
BER : Retail Survey : Full Survey     Full-text available via subscription   (Followers: 2)
BER : Survey of Business Conditions in Building and Construction : An Executive Summary     Full-text available via subscription   (Followers: 4)
BER : Survey of Business Conditions in Manufacturing : An Executive Summary     Full-text available via subscription   (Followers: 3)
BER : Survey of Business Conditions in Retail : An Executive Summary     Full-text available via subscription   (Followers: 3)
BER : Trends : Full Survey     Full-text available via subscription   (Followers: 2)
BER : Wholesale Sector Survey     Full-text available via subscription   (Followers: 1)
Berkeley Business Law Journal     Free   (Followers: 11)
Bio-based and Applied Economics     Open Access   (Followers: 1)
Biodegradation     Hybrid Journal   (Followers: 1)
Biology Direct     Open Access   (Followers: 7)
Black Enterprise     Full-text available via subscription  
Board & Administrator for Administrators only     Hybrid Journal  
Border Crossing : Transnational Working Papers     Open Access   (Followers: 2)
Briefings in Real Estate Finance     Hybrid Journal   (Followers: 5)
British Journal of Industrial Relations     Hybrid Journal   (Followers: 30)
Brookings Papers on Economic Activity     Open Access   (Followers: 47)
Brookings Trade Forum     Full-text available via subscription   (Followers: 3)
BRQ Business Research Quarterly     Open Access   (Followers: 2)
Building Sustainable Legacies : The New Frontier Of Societal Value Co-Creation     Full-text available via subscription   (Followers: 1)
Bulletin of Economic Research     Hybrid Journal   (Followers: 17)
Bulletin of Geography. Socio-economic Series     Open Access   (Followers: 7)
Bulletin of Indonesian Economic Studies     Hybrid Journal   (Followers: 3)
Bulletin of the Dnipropetrovsk University. Series : Management of Innovations     Open Access   (Followers: 1)
Business & Entrepreneurship Journal     Open Access   (Followers: 16)
Business & Information Systems Engineering     Hybrid Journal   (Followers: 5)
Business & Society     Hybrid Journal   (Followers: 9)
Business : Theory and Practice / Verslas : Teorija ir Praktika     Open Access   (Followers: 1)
Business and Economic Research     Open Access   (Followers: 6)
Business and Management Horizons     Open Access   (Followers: 12)
Business and Management Research     Open Access   (Followers: 17)
Business and Management Studies     Open Access   (Followers: 9)
Business and Politics     Hybrid Journal   (Followers: 6)
Business and Professional Communication Quarterly     Hybrid Journal   (Followers: 7)
Business and Society Review     Hybrid Journal   (Followers: 5)
Business Economics     Hybrid Journal   (Followers: 6)
Business Ethics: A European Review     Hybrid Journal   (Followers: 16)
Business Horizons     Hybrid Journal   (Followers: 8)
Business Information Review     Hybrid Journal   (Followers: 13)
Business Management and Strategy     Open Access   (Followers: 40)
Business Research     Hybrid Journal   (Followers: 2)
Business Strategy and the Environment     Hybrid Journal   (Followers: 12)
Business Strategy Review     Hybrid Journal   (Followers: 7)
Business Strategy Series     Hybrid Journal   (Followers: 6)
Business Systems & Economics     Open Access   (Followers: 2)
Business Systems Research Journal     Open Access   (Followers: 5)
Business, Management and Education     Open Access   (Followers: 17)
Business, Peace and Sustainable Development     Full-text available via subscription   (Followers: 3)
Bustan     Hybrid Journal   (Followers: 1)
Cadernos EBAPE.BR     Open Access   (Followers: 1)
Cambridge Journal of Economics     Hybrid Journal   (Followers: 54)
Cambridge Journal of Regions, Economy and Society     Hybrid Journal   (Followers: 9)
Canadian Journal of Administrative Sciences / Revue Canadienne des Sciences de l Administration     Hybrid Journal   (Followers: 1)
Canadian Journal of Economics/Revue Canadienne d`Economique     Hybrid Journal   (Followers: 26)
Canadian journal of nonprofit and social economy research     Open Access   (Followers: 2)
Capitalism and Society     Hybrid Journal   (Followers: 2)
Capitalism Nature Socialism     Hybrid Journal   (Followers: 11)
Case Studies in Business and Management     Open Access   (Followers: 8)
CBU International Conference Proceedings     Open Access   (Followers: 1)
Central European Journal of Operations Research     Hybrid Journal   (Followers: 5)
Central European Journal of Public Policy     Open Access   (Followers: 1)
CESifo Economic Studies     Hybrid Journal   (Followers: 16)
Chain Reaction     Full-text available via subscription  
Challenge     Full-text available via subscription   (Followers: 4)
China & World Economy     Hybrid Journal   (Followers: 15)
China : An International Journal     Full-text available via subscription   (Followers: 16)
China Economic Journal: The Official Journal of the China Center for Economic Research (CCER) at Peking University     Hybrid Journal   (Followers: 9)
China Economic Review     Hybrid Journal   (Followers: 10)
China Finance Review International     Hybrid Journal   (Followers: 5)
China Nonprofit Review     Hybrid Journal   (Followers: 3)
China perspectives     Open Access   (Followers: 11)
Chinese Economy     Full-text available via subscription  
Ciência & Saúde Coletiva     Open Access   (Followers: 2)
CLIO América     Open Access   (Followers: 1)
Cliometrica     Hybrid Journal   (Followers: 2)
COEPTUM     Open Access  
Community Development Journal     Hybrid Journal   (Followers: 24)
Compensation & Benefits Review     Hybrid Journal   (Followers: 6)
Competition & Change     Hybrid Journal   (Followers: 10)
Competitive Intelligence Review     Hybrid Journal   (Followers: 2)
Competitiveness Review : An International Business Journal incorporating Journal of Global Competitiveness     Hybrid Journal   (Followers: 5)
Computational Economics     Hybrid Journal   (Followers: 9)
Computational Mathematics and Modeling     Hybrid Journal   (Followers: 8)
Computer Law & Security Review     Hybrid Journal   (Followers: 15)
Computers & Operations Research     Hybrid Journal   (Followers: 10)
Construction Innovation: Information, Process, Management     Hybrid Journal   (Followers: 14)
Contemporary Wales     Full-text available via subscription   (Followers: 3)
Contextus - Revista Contemporânea de Economia e Gestão     Open Access   (Followers: 1)
Contributions to Political Economy     Hybrid Journal   (Followers: 6)
Corporate Communications An International Journal     Hybrid Journal   (Followers: 5)
Corporate Philanthropy Report     Hybrid Journal   (Followers: 2)
Corporate Reputation Review     Hybrid Journal   (Followers: 4)
Creative and Knowledge Society     Open Access   (Followers: 10)
Creative Industries Journal     Hybrid Journal   (Followers: 8)
CRIS - Bulletin of the Centre for Research and Interdisciplinary Study     Open Access   (Followers: 1)
Crossing the Border : International Journal of Interdisciplinary Studies     Open Access   (Followers: 4)
Cuadernos de Administración (Universidad del Valle)     Open Access   (Followers: 1)
Cuadernos de Economía     Open Access   (Followers: 1)
Cuadernos de Economia - Latin American Journal of Economics     Open Access   (Followers: 1)
Cuadernos de Estudios Empresariales     Open Access   (Followers: 1)
Current Opinion in Creativity, Innovation and Entrepreneurship     Open Access   (Followers: 8)
De Economist     Hybrid Journal   (Followers: 12)
Decision Analysis     Full-text available via subscription   (Followers: 8)
Decision Sciences     Hybrid Journal   (Followers: 15)
Decision Support Systems     Hybrid Journal   (Followers: 15)
Defence and Peace Economics     Hybrid Journal   (Followers: 16)
der markt     Hybrid Journal   (Followers: 1)
Desenvolvimento em Questão     Open Access  
Development     Full-text available via subscription   (Followers: 23)
Development and Change     Hybrid Journal   (Followers: 46)
Development and Learning in Organizations     Hybrid Journal   (Followers: 7)

        1 2 3 4 5 6 | Last

Journal Cover China Economic Review
  [SJR: 0.997]   [H-I: 46]   [10 followers]  Follow
    
   Hybrid Journal Hybrid journal (It can contain Open Access articles)
   ISSN (Print) 1043-951X
   Published by Elsevier Homepage  [3031 journals]
  • Demand for MOOC - an application of Big Data
    • Abstract: Publication date: Available online 17 May 2017
      Source:China Economic Review
      Author(s): Tingting Tong, Haizheng Li
      We evaluate factors affecting the demand for MOOC by estimating its demand function in OECD countries and in China. We apply a Big Data approach to construct a proxy for MOOC demand using Google Trends for OECD and Baidu Index for China. Based on estimation results of various panel data models, we find that in both cases, higher unemployment promotes MOOC demand. However, in OECD countries, the proportion of individuals with high school level or higher education have positive and significant effects on MOOC demand, while in China, we observe positive and significant effects from internet speed and average income.

      PubDate: 2017-05-17T19:39:47Z
       
  • Property rights security and firm survival: Micro-data evidence from China
    • Abstract: Publication date: Available online 16 May 2017
      Source:China Economic Review
      Author(s): Qiong Zhang, Yupeng Shi, Angda He, Xueting Wen
      The security of property rights has been found to play important roles in various aspects of firm behaviors. However, its effects on firm survival have been largely neglected in previous research. Using annual data of Chinese manufacturing firms over the period 1998–2008, we analyze the link between property rights security and firms' survival probabilities, differentiating firms into stated-owned enterprises (SOEs) and non-SOEs, and considering whether the linkage evolves over time. Examining a wide range of specifications, we find that the protection of property rights, by limiting government intervention and promulgating laws and rules, is crucial for firm survival. Moreover, better security of property rights benefits non-SOEs more. We also find that the beneficial effects of secure property rights on firm survival are more pronounced for years after 2003 when China speeded up deregulation to comply with its WTO commitments and reform target to establish a modern system of property rights than for years before 2002.

      PubDate: 2017-05-17T19:39:47Z
       
  • The medium-run effect of China's higher education expansion on the
           unemployment of college graduates
    • Abstract: Publication date: Available online 12 May 2017
      Source:China Economic Review
      Author(s): Chunbing Xing, Peng Yang, Zhilong Li
      China's unemployment rate for new college graduates has increased significantly in recent years, and many people attribute this increase to the higher education expansion policy. In this paper, we use three nationally representative data sets for 2000, 2005, and 2010 to investigate the short and medium term effects of the expansion policy on the unemployment of college graduates. Treating higher education expansion as an exogenous shock and using a difference-in-difference (DID) strategy, we find that this policy increased the unemployment rate of new college graduates in the short run, but the unemployment rate kept declining and the dis-employment effect mostly disappeared after five years. We also find some heterogeneous effects by gender, region, and city.

      PubDate: 2017-05-12T19:05:21Z
       
  • How to identify poor immigrants? - An empirical study of the Three
           Gorges Reservoir in China
    • Abstract: Publication date: Available online 8 May 2017
      Source:China Economic Review
      Author(s): Yue Liu, Chuanmin Shuai, Huimin Zhou
      This paper aims to study on the precise identification and targeting of immigrant poverty in the TGRR, with a multi-dimensional poverty line as a standard, which has transcended the traditional income poverty line. Then, we figured out the changing trend and the causes of immigrant poverty under the perspective of multidimensional poverty. Based on the dual cutoff method and regression analysis, the study results show that the discrepancy of poverty before and after immigration is significant, but the poverty problem of immigrants in the TGRR is still serious. The current multi-poverty incidence of immigrants is 30.15%, which means that there are still 2.3097 million people under poverty. The major causes of poverty in this region are poverty in assets, poverty in education and poverty in health. The poverty contribution rate of land scarcity has increased from 12.16% to 29.52% with the deterioration of land loss, which has a negative effect on immigrants' livelihood. The results reveal several outstanding poverty problems in this region: the coverage of social security of immigrants is far from ideal; There are still 12.75% of the impoverished immigrants without medical insurance and 11.36% without pension insurance; the percentage of female laborers, the education level of laborers, the percentage of agricultural expenditure and the percentage of medical expenditure have significant correlations with immigrants' poverty in this region. The paper argues that the precise identification and targeting of poverty reduction in China should be undertaken from a multidimensional perspective.

      PubDate: 2017-05-12T19:05:21Z
       
  • The effects of formal and informal child care on the Mother's labor
           supply—Evidence from urban China
    • Abstract: Publication date: July 2017
      Source:China Economic Review, Volume 44
      Author(s): Yunrong Li
      The women's labor force participation rate in China has declined considerably during the last twenty years in urban China. Since the reforms started in the mid-1990s, publicly subsidized child care programs have decreased, and private care centers have increased. This might have increased the reliance of working mothers on informal child care and reduced their reliance on formal child care. Using post-reform data from the Project on Rural–Urban Migration in China (RUMiC) of 2008, I estimate the effects of formal and informal child care on the labor supply of mothers of young children. A recursive model with instrumental variables is employed to account for endogeneity. I find a positive and significant impact of informal child care in the form of grandchild care on the mother's labor force participation, while no significant effect of formal child care in the form of kindergartens or paid nannies. Considering recent tendencies in China to postpone retirement, one possible method to maintain mothers' presence in the labor market could be to reinforce the availability and affordability of formal child care. 2 2 Abbreviations: RUMiC: Project on Rural-Urban Migration in China. LFP: labor force participation. NBS: China National Bureau of Statistics. cmp: conditional mixed process. 3 3 Funding: this work was supported by the National Social Science Foundation of China (grant number 15CJY017). The opinions and conclusions expressed herein are solely those of the author and should not be construed as representing the opinions or policies of the foundation or the government.

      PubDate: 2017-05-07T18:24:56Z
       
  • The income-body-size gradient among Chinese urban adults: A semiparametric
           analysis
    • Abstract: Publication date: Available online 5 May 2017
      Source:China Economic Review
      Author(s): Matthieu Clement
      The literature has emphasized the existence of a transition in the SES-obesity gradient when a country moves from low-income status to high-income status. As a middle-income country experiencing strong socio-economic changes, China provides a relevant case study. This article forms part of the literature on the impact of SES on body size and aims to clarify and update information about the relationship between income (one specific dimension of SES) and adult body size in urban China. To analyze this potentially complex relationship, we rely on semiparametric methods that enable us to leave the nature of the association between income and body size unspecified in the regression analysis. Empirical investigations conducted as part of this research are based on longitudinal data from the China Health and Nutrition Survey covering the period 1991–2011. Our results show that the income-body size relationship remains complex, gender-specific and very non-linear in urban China. We also provide evidence of the reversal of the income-body-size gradient, a reversal that is observed only for women for the period under study. Finally, we emphasize the specific features of the gradient for the two tails of the income distribution which could indicate that local deviations from the near-universal reversal path are possible.

      PubDate: 2017-05-07T18:24:56Z
       
  • Government intervention in the capital allocation process: Excess
           employment as an IPO selection rule in China
    • Abstract: Publication date: Available online 4 May 2017
      Source:China Economic Review
      Author(s): Anders C. Johansson, Danglun Luo, Johanna Rickne, Wei Zheng
      We study the role of excessive employment as a selection criterion for initial public offerings (IPOs) in China. Using a large dataset of firms that are eligible for a public offering, we find that firms' that have more excess employment – that is, firms that hire too many people – are more likely to be selected for an IPO. This correlation is stronger for the private sector than for the state sector, suggesting that stock market capital is used to direct capital flows to private firms that comply with politicians' preferred labor practices. A third set of results corroborates the inefficiency of this selection rule by showing that firms with more excess labor underperform after the IPO. We conclude that a political system known for its interventionistic government policies uses its influence over the stock market to signal preferred employment practices.

      PubDate: 2017-05-07T18:24:56Z
       
  • Trends in elderly health by cohort: Evidence from China
    • Abstract: Publication date: Available online 2 May 2017
      Source:China Economic Review
      Author(s): Yangyang Yu, Frank A. Sloan
      China has the world's largest number of older persons and is undergoing rapid demographic and economic transitions. Using longitudinal data from seven waves of the China Health and Nutrition Survey (CHNS) spanning 1991–2009, this study examines trends by birth cohort for persons born during 1912–54 on several dimensions of elderly health—chronic diseases, physical function limitations, and excess weight. A fixed effects specification was used to distinguish trends in health, physical function, and weight common to all adult age groups and differential trends in these measures according to the person's birth year. The empirical results show that while there was a decline in physical function limitations over time, earlier-born elderly cohorts experienced no reduction in physical function limitations. A similar pattern occurred for stroke, but not for the other heath indicators. These findings are robust after accounting for sample attrition. The secular changes in health and function could have occurred for several reasons. Among the underlying mechanisms the data allow us to analyze, improved access to medical care and expanded health insurance coverage only had minor effects on observed changes in health and physical function.

      PubDate: 2017-05-07T18:24:56Z
       
  • Urban pollution and road infrastructure: A case study of China
    • Abstract: Publication date: Available online 1 May 2017
      Source:China Economic Review
      Author(s): Zhi Luo, Guanghua Wan, Chen Wang, Xun Zhang
      Urban road infrastructure is crucial in affecting air pollution. Yet, little is known about the roles played by road width vs road length. This paper attempts to fill this gap by estimating the effects of road infrastructure on PM10 using city-level data from China. Our robust modeling results show that the road density index, defined as the ratio of road surface area to city territory size, is negatively correlated with PM10. More importantly, when the road width and length components of the road density variable are separately included in the regression models, the width is found to be significantly and negatively correlated with PM10, whereas the correlation with the length variable is insignificant. This is expected as increases in road width can help mitigate congestion, improve fuel efficiency, and thus reduce emissions. On the contrary, extending roads to new or unconnected areas is likely to bring more vehicles onto the roads and extend average driving time. Our findings appeal for careful consideration of the trade-off between road width (lane numbers) and road length when planning and constructing urban road infrastructure.

      PubDate: 2017-05-02T14:21:56Z
       
  • Urbanization and risk preference in China: A decomposition of
           self-selection and assimilation effects
    • Abstract: Publication date: Available online 29 April 2017
      Source:China Economic Review
      Author(s): Xiaojun Shi, Zhu Yan
      This paper posits that urbanization reshapes individuals’ risk preference by exerting self-selection and assimilation effects. Taking advantage of the unique Hukou system in China, we innovate a quasi-experiment method to elicit the two effects, employing the 2013 wave dataset of the Chinese General Social Survey (CGSS). We find strong evidence supporting our two-effect theory, and the magnitudes of both effects are sizable and similar in scale. The assimilation effect reduces the migrant’s risk aversion measurement by 0.606, while the self-selection effect reduces it by 0.715 on average. Overall, urbanization improves migrants’ risk appetite, and mediated by this improvement, migrants are more likely than their rural peers to engage in economic activities under uncertainty, as indicated by the evidence that presents when we apply the two-effect theory to investigate how a household decides on risky financial asset investment.

      PubDate: 2017-05-02T14:21:56Z
       
  • Unequal school enrollment rights, rent yields gap, and increased
           inequality: The case of Shanghai
    • Abstract: Publication date: Available online 27 April 2017
      Source:China Economic Review
      Author(s): Muyang Zhang, Jie Chen
      This paper first builds a simple theoretic model to explore how a special feature of enrollment policy of public primary schools in urban China, the unequal enrollment right between home owners and tenants, would produce rent-yields gap between different housings. The model also predicts that an enrollment policy featuring with tenant discrimination, accompanying with strict credit constraint, would reduce the chance of kids from middle-income families to attend better public schools while allow families with high initial wealth to access better high-quality public education at a lower cost. Using a hedonic pricing model, we find that, in Shanghai, rental yields of housings in neighborhoods associated with reputed public primary schools is on average 0.1–0.35 percentage-point lower than those associated with ordinary ones. We also explore how the rent-yields-gap varies across housing types, locations and changes over time. Nonetheless, our simulation computation suggests that the estimated opportunity cost of holding such schools in Shanghai is generally not a big amount and affordable for many families. Overall, the high entry costs of owing a housing is the major obstacle to access high-quality public primary education in urban China. These findings highlight how an education policy with features of inequality may contribute to education and residential segregation, and then reduce intergenerational mobility.

      PubDate: 2017-05-02T14:21:56Z
       
  • The direct and indirect effects of infrastructure on firm productivity:
           Evidence from Chinese manufacturing
    • Abstract: Publication date: Available online 27 April 2017
      Source:China Economic Review
      Author(s): Guanghua Wan, Yan Zhang
      This paper attempts to distinguish and estimate the direct and indirect effects of infrastructure on firm productivity. The latter arises from the infrastructure-agglomeration link and has been largely overlooked in the literature on infrastructure. An analytical framework is then proposed to estimate both effects. Finally, empirical results are obtained using large-scale firm-level survey data from China. Major findings include: (1) all the three kinds of infrastructure–road, telecommunication servers and cable–are found to directly promote firm productivity; (2) they also exert a positive indirect effect on firm productivity through the agglomeration channel; and (3) the empirical results are robust to different agglomeration indicators and different subsamples.

      PubDate: 2017-05-02T14:21:56Z
       
  • Picking ‘winners' in China: Do subsidies matter for indigenous
           innovation and firm productivity?
    • Abstract: Publication date: July 2017
      Source:China Economic Review, Volume 44
      Author(s): Anthony Howell
      This paper examines the effects of public subsidies across several dimensions of the innovation process and the implications for productivity. As an identification strategy, panel data is used to estimate a structural innovation model that controls for unobserved heterogeneity combined with matching techniques that help ensure comparability between subsidized and non-subsidized firms. The findings reveal that public subsidies reduce firms' economic performance in lower and higher technology industries despite promoting indigenous innovation in the higher technology industries. Policymakers may tolerate lower average efficiency if they expect that some of the state-backed firms will go on to become innovators that go on to generate significantly large social welfare payoffs. Although the findings do not support such an expectation, thus bringing into question whether the social payoff from China's so-called picking ‘winners' strategy justifies the cost.

      PubDate: 2017-04-25T11:09:29Z
       
  • Does wage justice hamper creativity? Pay gap and firm innovation in
           China
    • Abstract: Publication date: Available online 20 April 2017
      Source:China Economic Review
      Author(s): Mingli Xu, Gaowen Kong, Dongmin Kong
      Although the pay gap between executives and employees has received considerable attention, its economic consequences remain unclear due to the unavailability of data. In this study, we examine the effects of the pay gap on firm innovation by using data from Chinese listed firms. We show that: 1) the first-order effect of pay gap on firm innovation is significantly positive, supporting the tournament theory; 2) however, when pay gap is relatively high, the importance of comparison theories increases; 3) high management pay premiums provide incentives for management to devote to innovation activities, while pay premiums for ordinary employees impede firm innovation; and 4) both the employee's human capital and state ownership play significant roles in the negative effects of employee pay premiums on firm innovation. Overall, we provide critical insights and a serious challenge for regulators in China. The policy implications of this study could be of interest to regulators who intend to encourage firm innovation.

      PubDate: 2017-04-25T11:09:29Z
       
  • On the Choice of Monetary Policy Rules for China: A Bayesian DSGE Approach
    • Abstract: Publication date: Available online 13 April 2017
      Source:China Economic Review
      Author(s): Bing Li, Qing Liu
      Motivated by the institutional features of China’s monetary policy, this paper aims at identifying the most data favored monetary policy rule for China within a dynamic stochastic general equilibrium (DSGE) model framework. In a canonical New-Keynesian DSGE model, we carry out a positive analysis by employing Bayesian methods to estimate three main categories of monetary policy rules, namely a Taylor-type interest rate rule, a money growth rule and an expanded Taylor rule with money. Based on China’s quarterly data from 1996Q2 to 2015Q4, our estimation shows that the expanded Taylor rule obtains the best empirical fit to the data. Moreover, impulse responses and forecast error variance decompositions demonstrate that monetary policy rules with or without money provide very different implications for the policy behavior. Our results ultimately suggest that money has so far been more closely targeted than nominal interest rate and still plays an important role as a monetary policy target in China. Furthermore, a conventional Taylor-type interest rate rule is not good enough yet to describe China’s monetary policy behavior.

      PubDate: 2017-04-18T11:01:08Z
       
  • Rising wages, yuan's appreciation and China's processing exports
    • Abstract: Publication date: Available online 8 April 2017
      Source:China Economic Review
      Author(s): Yuqing Xing
      This study investigates the impact of rising wage and the appreciation of the yuan on the structure of China's exports. China's exports are classified here as ordinary exports (OE), and two distinctive groups of processing exports, pure assembly exports (PAE) and mixed assembly exports (MAE). The data analyzed here are derived from panel data covering China's bilateral PAE and MAE with 120 trading partners from 1993 to 2013. The estimates of fixed effect models show that wage increase and the appreciation of the yuan reduced the proportion of assembly exports in China's bilateral exports. Specifically, for a 10% increase in Chinese manufacturing wages, the share of PAE in China's bilateral exports is expected to fall 4.59% and that of MAE to decrease 0.9%; and a 10% nominal appreciation of the yuan against the US dollar is expected to lower the shares of PAE and MAE 8.56% and 7.26% respectively. The empirical results imply that rising wage and cumulative appreciation of the yuan have eroded China's comparative advantage in the assembly of products for international markets, resulting in substantial contraction of assembly exports. The analysis provides a supply-side explanation for the fall of China's export growth.

      PubDate: 2017-04-11T11:12:33Z
       
  • Introduction to the Special Issue of the 30th CES Annual Conference Held
           in 13–14, June 2015 at Chongqing University, China
    • Abstract: Publication date: Available online 5 April 2017
      Source:China Economic Review
      Author(s): Shujie Yao


      PubDate: 2017-04-11T11:12:33Z
       
  • Introduction to Symposium: Structural Change, Industrial Upgrading and
           China’s Economic Transformation
    • Abstract: Publication date: Available online 30 March 2017
      Source:China Economic Review
      Author(s): Jun Zhang, Keijiro Otsuka, Xiaolan Fu, Shanping Yan


      PubDate: 2017-04-03T16:31:31Z
       
  • Industry specific effects on innovation performance in China
    • Abstract: Publication date: Available online 30 March 2017
      Source:China Economic Review
      Author(s): JianCheng Guan, Lanxin Pang
      This research aims to understand how industrial characteristics in Chinese industrial sectors are related to and affect innovation activities. Using Heckman's two-step procedure, this study contributes to examine firms' innovation determinants with a framework that clearly distinguishes between the two steps of innovation model: innovation propensity (probability of being innovative) and innovation performance (patents and innovation sales). In particular, the moderating effects of industrial characteristics on the relationships between R&D intensity, financial incentives and innovation performance are discussed. The findings show that different industrial characteristics generate different impacts on innovation propensity and innovation performance. Firms in capital intensive industries and relative monopoly industries are more likely to innovate. The findings also show that Direct Government Subsidy does not contribute significantly to improve economical innovation performance of firms and Indirect Government Subsidy on innovative economic performance is easier to be influenced by industry characteristics, which have important potential policy implications to guide innovation activities for Chinese policy makers as well as for Chinese firms.

      PubDate: 2017-04-03T16:31:31Z
       
  • Opportunity or new poverty trap: Rural-urban education disparity and
           internal migration in China
    • Abstract: Publication date: Available online 29 March 2017
      Source:China Economic Review
      Author(s): Zhang Huafeng
      Despite its rapid economic growth, China has never managed to reduce its rural-urban divide with its reforms and marketization of the economy. The huge gap between urban and rural education is embedded in the disparity in educational investment, children's educational attainment, school quality and the returns to education. Migrant children move with their parents to urban cities to pursue a better education. However, the Chinese household registration system (hukou system) limits migrant children's rights and access to basic education in the cities. Will migrant children benefit from a better-quality education in the cities, or will they continue to be constrained by their hukou registration? Will the large-scale internal rural-urban migration provide the opportunity to reduce rural-urban education inequality in China, or will it merely create a new education-poverty trap? Based on publicly available large-scale survey data (RUMiC), this paper applies logistic regression and survival analysis to illustrate the new education-poverty trap imposed on migrant children by the institutional constraints and hierarchies in children's education, created by the Chinese household registration system in Chinese cities.

      PubDate: 2017-04-03T16:31:31Z
       
  • Policy effect on structural change: A case of Chinese intermediate goods
           trade
    • Abstract: Publication date: July 2017
      Source:China Economic Review, Volume 44
      Author(s): Yanghua Huang, Nimesh Salike, Feiteng Zhong
      We explain the dynamics of China's intra industry trade (IIT) development spanning over three decades from the perspective of institutional changes. We present two hypotheses after reviewing series of policy documents and related organizational adjustment descriptions. First, we argue that China's pro-liberal reform in trade and FDI institutions helped trade to take off. Second, China is ambitious in acquiring advanced technology and building up a sophisticated system to promote technological capability. An analysis of Grubel and Lloyd IIT index on intermediate goods trade belonging to SITC 7 and SITC 8- the key components of regional value chain in East Asia- suggests that the structural changes taking place in China's intermediate goods trade are in agreement with the stated hypotheses. China's institutional arrangements also help to explain the factor behind China's success in becoming a major player in the regional production network in East Asia.

      PubDate: 2017-03-28T09:09:24Z
       
  • Political ties and VC exits: Evidence from China
    • Abstract: Publication date: July 2017
      Source:China Economic Review, Volume 44
      Author(s): Hamish D. Anderson, Jing Chi, Qing (Sophie) Wang
      We examine whether political ties (PTs) benefit VCs in China and find a positive relationship between PTs and successful VC exits. Our findings indicate that PTs are crucial for VCs to exit via Chinese mainland stock markets and M&As. The impact of PTs depends on the nature and compositions of PTs. We document that VCs with management-level PTs enjoy greater success than those with ownership-level PTs, whereas no significant difference between central and local government PTs on VC exits. Our results remain stable after controlling for selection bias, alternative measures for VC exits, and legal and institutional differences across regions.

      PubDate: 2017-03-28T09:09:24Z
       
  • Can equalization of public services narrow the regional disparities in
           China? A spatial econometrics approach
    • Abstract: Publication date: Available online 24 March 2017
      Source:China Economic Review
      Author(s): Bin Li, Tuo Li, Man Yu, Bin Chen
      Regional disparities that challenge the economy and public administration must be confronted by the governments and public in developing countries. As the extensive mode of economic growth has caused many problems in China, it is necessary to find other ways to promote the development of poor areas to narrow regional disparities in the country. This paper measures the equalization of public services and residents' living standards in China, based on a provincial panel data for the period 2001–2013, to analyze the impact of the equalization of public services on China's regional disparities. The empirical results, based on spatial econometrics models, show that the equalization of all types of public services can promote the regional equality of incomes and consumptions. There is also evidence suggesting that the regional disparities are affected by other economic and social factors.

      PubDate: 2017-03-28T09:09:24Z
       
  • Perceived land tenure security in rural Xinjiang, China: The role of
           official land documents and trust
    • Abstract: Publication date: Available online 23 March 2017
      Source:China Economic Review
      Author(s): Fangping Rao, Max Spoor, Xianlei Ma, Xiaoping Shi
      The role of formal tenure institutions in reducing land tenure insecurity has been long debated in the development economics literature. This study examines and compares the key determinants of perceptions of security of tenure over contract land and wasteland, two types of land that are characterized by tenure being formally and informally ascribed. The material is drawn from the Chinese region of Xinjiang, an ethnically heterogeneous region which has more complex tenure systems than elsewhere in China. Empirical estimations based on a survey of 352 households, complemented by interviews with key informants, demonstrate that formal institutions (measured by official land documents) do not significantly contribute to households' perceptions of tenure security on either type of land, and that both interpersonal trust and political trust significantly enhance perceived tenure security on either land type in our research area. The empirical evidence further shows that perceptions of tenure security on both types of land are more sensitive to trust towards village cadres than trust in villagers.

      PubDate: 2017-03-28T09:09:24Z
       
  • Early poverty exposure predicts young adult educational outcomes in China
    • Abstract: Publication date: Available online 22 March 2017
      Source:China Economic Review
      Author(s): Xiaoying Liu, Emily Hannum
      Comparative research suggests that poverty in childhood, and especially in the early years, impedes educational attainment. With longitudinal data from China, we estimate hazard models of dropping out of school in young adulthood with two dynamic measures of childhood poverty: poverty spell indicators that distinguish poverty in early childhood, middle childhood, and adolescence, and poverty indices that measure the depth of poverty and distinguish chronic from transient poverty. Four main results emerge: 1) Children who experience spells in poverty leave school at a higher rate than others, even adjusting for poverty in later periods; 2) Transient poverty is more widespread, and shows a greater negative association with school-leaving, than chronic poverty; 3) Early childhood poverty shows greater negative associations with education outcomes than poverty in later periods; and 4) Girls may be more susceptible than boys to early poverty. We further test two possible mechanisms of impact: early nutrition poverty and school fees. While lower protein intake at an early stage of life is related to poorer educational outcomes in young adulthood, adjusting for nutritional deprivation does not attenuate the associations of early transient income poverty. Results do not suggest that cohorts that experienced school-fee abolishment policies experienced different poverty effects than other cohorts.

      PubDate: 2017-03-28T09:09:24Z
       
  • Assessing credit guarantee companies in China: Applying a new framework
    • Abstract: Publication date: Available online 21 March 2017
      Source:China Economic Review
      Author(s): Jiaming Li, Xiaohua Lin
      In this paper, we developed a framework for assessing the quality of credit guarantee institutions and then applied the framework to a sample of guarantee companies in China. Our results suggest that whereas macroscopic environments significantly impact the credit guarantee sector in China, scale, experience, and potential compensatory risk are the most important indicators of competence or performance capability of individual credit guarantee companies. We find that the current situation of the credit guarantee industry in China is unsatisfactory. Well-performing companies are scarce and the gap between those ranking at the top and those at the bottom is significant.

      PubDate: 2017-03-28T09:09:24Z
       
  • FDI pace, rhythm and host region technological upgrading: Intra- and
           interregional evidence from Chinese cities
    • Abstract: Publication date: Available online 21 March 2017
      Source:China Economic Review
      Author(s): Fan Wang, Lutao Ning, Jie Zhang
      Foreign Direct Investment (FDI) has long been regarded as a key source of new knowledge external to the domestic economy, but relatively little is known about how the host regions' technological upgrading is affected by the pace and rhythm of foreign firms' local expansion. Previous research has mainly considered FDI spillover effects within a closed area. Few studies have investigated how the technological upgrading of one area is influenced by the FDI in nearby regions. This paper therefore explores how the time-based characteristics of FDI, namely the pace and rhythm of FDI expansion, influence technological upgrading within and across cities. Using the panel data of 244 Chinese cities for the period from 2004 to 2011, our empirical results show that FDI spillovers have a positive effect on local technological upgrading in both local and neighbouring cities. Irregular FDI expansion negatively moderates FDI spillovers in the same city, but exhibits a positive effect on technological upgrading in neighbouring regions. Moreover, only rapid FDI expansion in neighbouring cities has a positive effect on local technological upgrading and can enhance its technological spillover effects across cities. Our empirical evidence provides implications for both the theoretical framework and policy making.

      PubDate: 2017-03-28T09:09:24Z
       
  • How does outward foreign direct investment enhance firm productivity? A
           heterogeneous empirical analysis from Chinese manufacturing
    • Abstract: Publication date: July 2017
      Source:China Economic Review, Volume 44
      Author(s): Youxing Huang, Yan Zhang
      Using an original linked firm-level panel data from Chinese manufacturing firms over the period 2002–2007, this paper examines how outward foreign direct investment (OFDI) led productivity increase of parent firms (known as the own-firm effect) changes over firm heterogeneity. Conducting propensity score matching (PSM) techniques and differences-in-differences (DID) analysis, we find strong and robust evidence that the first OFDI promotes parent firm's productivity and this effect varies substantially with the firms' characteristics. In particular, firm's absorptive capacity is essential for the own-firm effect, and the absorptive capacity related with the product innovation is more important than that of the process innovation for the own-firm effect. Also, OFDI strategies for obtaining advanced technology and investing in developed countries significantly strengthen the own-firm effect, whereas, government supports have no significant impacts on the own-firm effect.

      PubDate: 2017-03-20T15:49:29Z
       
  • School starting age and academic achievement: Evidence from China's junior
           high schools
    • Abstract: Publication date: Available online 18 March 2017
      Source:China Economic Review
      Author(s): Shiying Zhang, Ruoyu Zhong, Junchao Zhang
      This paper examines the effect of school starting age on the academic achievement of junior high school students using the newly available data from the China Education Panel Survey. Regression discontinuity design estimation based on an exogenous entrance cutoff date indicates that a one-year delay is associated with a 0.303 decrease in standard deviations of cognitive scores. However, this negative effect is caused by human capital accumulation prior to primary school entry.

      PubDate: 2017-03-20T15:49:29Z
       
  • Economies of scale, resource dilution and education choice in developing
           countries: Evidence from Chinese households
    • Abstract: Publication date: Available online 16 March 2017
      Source:China Economic Review
      Author(s): Guangjun Shen, Jingxian Zou, Xiaoguang Liu
      Recent empirical studies suggest that the negative correlation between the quantity of children within a family and their educational attainment, which is widely observed in developed countries, is inconsistent or even rejected in developing countries. This paper aims to integrate these divergent empirical results into a unified theoretical framework by introducing scale economies into the classical model of Becker and Lewis (1973). As a result, the “anomaly” of an observed upward or an inverted U-shaped relationship can be expected as the scale economies effect dominates when there are few children in a family. Using data from the China's 1990 and 2000 censuses, this study further tests some hypotheses induced from the model. Educational attainment increases with sibling size at first and then drops. Children with one or two siblings achieve the highest education during the period our sample covers. The inverted U-shaped correlation is more robust for rural subsamples, for older cohorts and for economically underdeveloped regions and groups, which is consistent with the prediction of the model.

      PubDate: 2017-03-20T15:49:29Z
       
  • An evaluation of pension differentials between Chinese private and public
           sectors from perspective of protection and incentives over the lifecycle
    • Abstract: Publication date: Available online 14 March 2017
      Source:China Economic Review
      Author(s): Hongbo Jia
      This article evaluates pension differentials between the private and public sectors over the lifecycle in urban areas in China. The aim of this study was to examine social equity in the face of increasing pressures to reform the current pension system. We developed a model to measure the protection and incentives offered by pensions in the private and public sectors. By incorporating educational cost, career length, retirement age, average years that a retiree receives the pension after retirement, growth rate of wages, interest rates and pension benefits into the model, we provided actuarial assessments. This study found that the current institutional arrangement of pensions in China results in negative incentives for workers in the public sector.

      PubDate: 2017-03-20T15:49:29Z
       
  • Do China's high-speed-rail projects promote local economy?—New evidence
           from a panel data approach
    • Abstract: Publication date: Available online 6 March 2017
      Source:China Economic Review
      Author(s): Xiao Ke, Haiqiang Chen, Yongmiao Hong, Cheng Hsiao
      This paper evaluates the effect of High Speed Rail (HSR) projects on the economic growth of targeted city nodes (HSR cities) in China using prefectural-level city data from 1990 to 2013. Employing a panel data program evaluation method devised by Hsiao, Ching, and Wan (2012), we construct hypothetical counterfactuals for per capita real GDP of HSR cities in the absence of their respective HSR projects using the outcomes in selected non-HSR cities. We find that the responses to HSR treatment are heterogeneous with regard to location, route, and region. The location-level impact ranges between 5% and 59% and is not temporary. HSR cities with positive effects concentrate along the Hu-Ning Segment, the Yong-Tai-Wen-Fu-Xia Segment, and within the Hunan province along the Wu-Guang HSR. These cities are mainly located in the eastern coastal regions of China, in core urban agglomeration regions that allow them to be transportation hubs. In general, the gain for local economies is greater for cities that are more industrialized, with more ability of the service sector to absorb enough labor, and with better supporting infrastructure. On the other hand, local protectionism hampers the development of HSR cities. We also show that at different project stages, HSR cities experience different gains.

      PubDate: 2017-03-09T02:46:37Z
       
  • Confucius Institutes and FDI flows from China to Africa
    • Abstract: Publication date: Available online 1 March 2017
      Source:China Economic Review
      Author(s): Muhammad Akhtaruzzaman, Nathan Berg, Donald Lien
      Is the establishment of new Confucius Institutes (CIs) in African countries motivated by resource seeking? We focus on uncovering new empirical evidence about the establishment of CIs, whether they are related to natural resources, and the extent to which the establishment of new CIs and Chinese foreign aid flows affect one another. Whereas Chinese aid flows do indeed appear to be empirically associated with African countries' natural resources, the evidence we report suggests that CIs are established based on a distinct set of motives. We find that CIs, Chinese foreign aid flows to Africa and natural resources have joint predictive power on the subsequent year's Chinese FDI outflows. CIs are not, however, positively associated with the subsequent year's aid flows. And aid flows are not positively associated with the subsequent year's expected number of CIs. We interpret this as evidence that CIs reflect an economically significant expression of Chinese soft power. The goals underlying the expression of this soft power are not subsumed by natural resource seeking and are not easily compressed to a single dimension. The data show that CIs and aid flows are not positive predictors of each other and are not subsumed (i.e., made to disappear) by the inclusion of controls for natural resources. Thus, the presence of a CI reveals independent, novel, and economically significant information about future trade flows that cannot be explained away by differences in resources or other control variables commonly found in empirical models of trade flows. The empirical evidence suggests that CIs are indeed an effective instrument for increasing China's soft power but that this soft power is not motivated solely (if at all) by resource seeking.

      PubDate: 2017-03-03T05:55:27Z
       
  • The effectiveness of monetary policy in China: Evidence from a Qual VAR
    • Abstract: Publication date: Available online 24 February 2017
      Source:China Economic Review
      Author(s): Hongyi Chen, Kenneth Chow, Peter Tillmann
      Analyzing monetary policy in China is not straightforward because the People's Bank of China (PBoC) implements policy by using more than one instrument. In this paper we use a Qual VAR, a conventional VAR system augmented with binary policy announcements, to extract a latent indicator of tightening and easing pressure, respectively, for China. The model acknowledges that policy announcements are endogenous and summarizes policy by a single indicator. The Qual VAR allows us to study the impact of monetary policy in terms of unexpected changes in these latent variables, which we identify using sign restrictions. We show that the transmission of monetary policy impulses to the rest of the economy is similar to the transmission process in advanced economies in terms of both output growth and inflation despite a very different monetary policy framework. We find that bank loans are not sensitive to policy changes, which implies that window guidance is still a necessary policy tool. We also find that the impact of monetary policy shocks is asymmetric in terms of asset prices, that is, the asset price reactions differ in their sensitivity to tightening shocks and easing shocks, respectively. In particular, an easing of monetary conditions boosts stock prices while a tightening shock leaves stock prices unaffected. This shows that monetary policy is not a suitable tool to stabilize asset prices, which raises implications for financial stability and macroprudential policy.

      PubDate: 2017-03-03T05:55:27Z
       
  • Are local governments maximizing land revenue? Evidence from China
    • Abstract: Publication date: Available online 20 February 2017
      Source:China Economic Review
      Author(s): Yuan Wang, Eddie Chi-man Hui
      This paper examines how political considerations affect local officials' revenue maximization behaviors in the context of urban land conveyance in China. Particularly, we analyze government intervention based on local officials' choice of two land auction types, namely, “English auction” and “two-stage auction”. The latter presumably serves as a tool of government intervention. We aim to address the research question: “Are local governments maximizing land revenue?” The major findings are threefold. First, for cities with higher housing prices, two-stage auctions are adopted more frequently than English auctions. In addition, land parcels in these “hot” cities adopt two-stage auctions more frequently during sensitive political events, suggesting that local officials respond positively to the real estate regulation policy from central government. Second, when city leaders are more incentivized to promote economic performance, they respond less positively to rises in housing prices. Third, such interventionist behavior results in a significantly depressed land price and housing price. Despite its intention of improving public welfare, this interventionism can susceptibly cause problems of misallocation and corruption.

      PubDate: 2017-02-23T23:25:34Z
       
  • Asymmetric reform bonus: The impact of VAT pilot expansion on China's
           corporate total tax burden
    • Abstract: Publication date: Available online 12 February 2017
      Source:China Economic Review
      Author(s): Hongsheng Fang, Yuxin Bao, Jun Zhang
      China's VAT pilot program began in Shanghai and was extended to eight provincial-level regions in 2012. We develop a simple model to explore whether and how the VAT pilot expansion affects corporate total tax burden. We find that it will reduce corporate total tax burden of small-scale taxpayers, while for general taxpayers, total tax burden change is uncertain. Using unique company-level half-yearly panel data and general setting for DID analysis for multiple groups and multiple periods, we find that the average treatment effects of the VAT pilot expansion on corporate total tax burden of general taxpayers are insignificant in the pooled sample. Furthermore, the VAT program shows no heterogeneity between the transportation and modern services industries. However, we find that the pilot effect varies by deductible items. In particular, the reduction tax effect is stronger in companies with higher intermediate input rates, and the largest effect is 60.4%. These results are consistent with our conceptual framework.

      PubDate: 2017-02-16T22:47:27Z
       
  • Mechanization outsourcing clusters and division of labor in Chinese
           agriculture
    • Abstract: Publication date: Available online 10 February 2017
      Source:China Economic Review
      Author(s): Xiaobo Zhang, Jin Yang, Reardon Thomas
      Despite small landholdings, a high degree of land fragmentation, and rising labor costs, agricultural production in China has steadily increased. If one treats the farm household as the unit of analysis, it would be difficult to explain the conundrum. When seeing agricultural production from the lens of the division of labor, the puzzle can be easily solved. In response to rising labor costs, farmers outsource some power-intensive stages of production, such as harvesting, to specialized mechanization service providers, which are often clustered in a few counties and travel throughout the country to provide harvesting services at competitive prices. Through such an arrangement, smallholder farmers can stay viable in agricultural production.

      PubDate: 2017-02-16T22:47:27Z
       
  • Domestic and international border effects: The cases of China and Japan
    • Abstract: Publication date: April 2017
      Source:China Economic Review, Volume 43
      Author(s): Kazunobu Hayakawa
      Previous studies in the border-effect literature surprisingly found that domestic border effects are larger than international border effects (e.g., in the United States or Brazil). One interpretation of this result is that these estimates include the effects of producer agglomeration. Therefore, in this study, we estimate those border effects exclusively for transactions for final consumption, in which such agglomeration forces will be weak, in China and Japan. As a result, we found larger international border effects and could not find a significant role for producer agglomeration in the estimates of border effects. We also found that China's accession to the World Trade Organization reduces border effects in trading between China and Japan but does not decrease domestic border effects.

      PubDate: 2017-01-29T17:45:24Z
       
  • Are smokers too optimistic about their health status: Ex ante perception
           versus ex post observation
    • Abstract: Publication date: Available online 26 January 2017
      Source:China Economic Review
      Author(s): Chee-Ruey Hsieh, Te-Fen Lo
      As the world has moved toward the era of non-communicable diseases, whether the individuals are in a capable position to accurately evaluate their own health status has an important implication on disease prevention in particularly and population health outcome in general. In this paper, we address four important questions surrounding the accuracy of health perception: (1) to what extent that individuals can make an accurate evaluation on their own health status; (2) what are the major factors influencing health misperception if any; (3) what are the causal directions between health behavior and health perception; and (4) whether individuals can learn and update their self-evaluation on health status over time and whether such learning is productive in that it mitigates the health misperception. Specifically, we use a longitudinal data set obtained from Taiwan that covers six waves of survey over about twenty-year period to compare the ex ante subjective perception on health and the ex post mortality hazards. Our results suggest that over one third of the survey respondents are not performing well in the evaluation of their own health status. We also find that smokers are more likely to have an optimistic bias on their own health assessment as compared to nonsmokers. After controlling for the simultaneous causality problem, we find a causal effect of individuals' misperceptions on continuing smoking, but not vice versa. In addition, our results show that individuals update their subjective perception on health over time through the learning from personal health shocks and the provision of public information on smoking hazards. Although the learning process tends to be overshooting among smokers, it is beneficial to mitigate the optimistic bias. We also find the evidence that personal health shock has a stronger impact on updating behavior than public information, indicating that personal experience is a more effective channel through which to correct the bias in health perception, compared to the provision of public information, such as anti-smoking campaign.

      PubDate: 2017-01-29T17:45:24Z
       
  • China’s Expansion of Higher Education: The Labour Market
           Consequences of a Supply Shock
    • Abstract: Publication date: Available online 25 January 2017
      Source:China Economic Review
      Author(s): John Knight, Quheng Deng, Shi Li
      In the decade 1998–2008 China expanded enrolment in higher education almost six-fold. For the examination of its short term labour market consequences, this unprecedentedly huge and sudden policy change might be regarded as a natural experiment. After providing a theoretical framework for analysis, the paper uses urban labour market surveys to analyse how the labour market adjusted to the supply shock. Three outcomes are examined: the effect of the expansion on wages, on unemployment, and on access to ‘good jobs’. The shock is found to reduce relative wages, raise the unemployment rate, and reduce the proportion in good jobs, but only for the entry-year or entry-period cohort of graduates. The effect is fairly powerful for entrants, especially university rather than college graduates, but incumbent graduates are largely protected from the supply shock. An attempt is made to examine the labour market effects of the quantitative expansion on educational quality. The paper provides insight into the operation of China's labour market in recent years.

      PubDate: 2017-01-29T17:45:24Z
       
  • A Contractual Analysis of State versus Private Ownership
    • Abstract: Publication date: Available online 25 January 2017
      Source:China Economic Review
      Author(s): Kun Jiang, Susheng Wang
      We uniquely analyze the advantages and disadvantages of private ownership versus state ownership under various circumstances by focusing on three aspects: external risk, internal governance, and relative importance of owners versus managers. Our theoretical analysis indicates that private ownership is better than state ownership if the business environment is risky, corruption is limited, or the manager plays a more important role than the owner. Our empirical analysis supports our theoretical findings and reveals that better internal governance, more external risk and greater importance of the manager will magnify the benefits of privatization.

      PubDate: 2017-01-29T17:45:24Z
       
  • Corruption, Costs, and Family: Chinese Capital Flight, 1984-2014
    • Abstract: Publication date: Available online 19 January 2017
      Source:China Economic Review
      Author(s): Frank R. Gunter
      Since 1984, the foreign debt of the Peoples” Republic of China has increased at a greater rate then would be explained by changes in the country”s current account, foreign direct investment and reserve holdings. This pattern is consistent with large-scale outflow of financial capital, commonly referred to as capital flight. Since 2005, capital flight has accelerated reaching $425 billion (plus or minus $60 billion) in 2014 alone. This study provides three estimates for capital flight from China for the period 1984 through 2014 using both Cuddington”s balance of payments and more inclusive residual measures. These measures are adjusted to reflect the legitimate assets of the Chinese banking industry, mis-invoicing of China's trade with its major trading partners (especially Hong Kong), exchange rate changes, and the failure of official debt data to capture certain bank transactions. Based on these estimates, it is concluded that capital controls have little long-term effect on the volume of capital flight, Hong Kong is increasingly a pipeline for capital flight from the mainland, and that ‘traditional’ explanations do not apply to China's capital flight over the last decade. Finally, corruption, transaction costs, and facilitating migration are considered as possible explanations of the recent acceleration of Chinese capital flight.
      Graphical abstract image

      PubDate: 2017-01-22T11:09:18Z
       
  • Demographic change and its impact on farmers' field production decisions
    • Abstract: Publication date: Available online 14 January 2017
      Source:China Economic Review
      Author(s): Yueqing Ji, Xuezhi Hu, Jing Zhu, Funing Zhong
      Following the general trend in demographic change, and enhanced by the large-scale and continuous rural-urban migration, the rural labor force remaining in farming is quickly reducing and aging. This is likely to have significant impact on the labor-intensive agriculture. However, the fast growing of machinery service has provided farmers an opportunity to out-source field work that demands heavy labor inputs. Therefore, the demographic change and development of machinery service may jointly influence farmers' production decision in terms of crop choice and inputs. Household data of Fixed Point Rural Survey (FPRS) are used to examine the potential change in farmers' decisions on crop mix and input uses. It is found out that, under current situations, aging may impact agriculture through changing crop mix, and the choice is largely determined by access to service of farm machine; which, in turn, is likely to be determined by topography.

      PubDate: 2017-01-15T20:53:31Z
       
  • The Preference for Larger Cities in China: Evidence from Rural-Urban
           Migrants
    • Abstract: Publication date: Available online 13 January 2017
      Source:China Economic Review
      Author(s): Chunbing Xing, Junfu Zhang
      China has long aimed to restrict population growth in large cities but encourages growth in small and medium-sized cities. At the same time, various government policies favor large cities. We conjecture that larger cities in China offer a better quality of life and more opportunities. We thus predict that a typical rural-urban migrant is willing to give up some income in order to live in a larger city. We present a simple model in which rural-urban migrants choose destination cities to maximize utilities from consumption and urban amenities. Drawing data from a large-scale population survey conducted in 2005, we first estimate each migrant’s expected earnings in each possible destination city using a semi-parametric method to correct for potential selection bias. We then estimate the typical migrant’s preference for city population size, instrumenting population size with its lagged values to control for potential omitted-variables bias. From these estimation results, we calculate the typical migrant’s willingness to pay to live in larger cities. Our results show that indeed rural-urban migrants strongly prefer cities with larger populations. We explore possible explanations for this preference and discuss the implications of these findings.

      PubDate: 2017-01-15T20:53:31Z
       
  • Who determines Chinese firms' engagement in corruption: Themselves or
           neighbors?
    • Abstract: Publication date: Available online 10 January 2017
      Source:China Economic Review
      Author(s): Jing You, Huihua Nie
      We investigate the determinants of firm corruption and highlight contagious diffusion of firm corruption under mutual influences of firms' past corrupt history and between peers. The analysis finds that firms' decision-making on engagement in corruption can be affected vertically by their own past experience of bribing bureaucrats and horizontally by the contagion effects of neighbors' observed malfeasance, while there is substantial regional heterogeneity. Moreover, these horizontal contagion effects are nonlinear depending on the distance between neighbors. We also identify three channels underlying “osmosis” of corruption: firms' geographic networks, information exposure, and local marketization. The strongest contagion effect appears in the eastern region, indicating that petty firm corruption can develop into a systematic phenomenon. More practical anti-corruption policies call for cooperation in design and implementation across administrative areas.

      PubDate: 2017-01-15T20:53:31Z
       
  • The Economic Returns to Proficiency in English in China
    • Abstract: Publication date: Available online 7 January 2017
      Source:China Economic Review
      Author(s): Haining Wang, Russell Smyth, Zhiming Cheng
      We examine economic returns to proficiency in English in China using two waves of the China Labor-Force Dynamics Survey (CLDS). We find positive earnings returns to proficiency in English. We find considerable heterogeneity in the economic returns to proficiency in English across age groups, coastal and inland provinces, levels of education and occupation. We find that the returns to proficiency in English are higher in the coastal region, higher for women and evidence of education-language and skill-language complementarity. We also see differences in the economic returns to English between urban and rural residents and between rural-urban migrants and urban locals. Our findings help to explain why the demand for learning English is so high in China, as well as having implications for the Chinese government at a time when it is re-evaluating the importance attached to learning English in the curriculum.

      PubDate: 2017-01-15T20:53:31Z
       
  • Social Networks, Job Satisfaction and Job Searching Behavior in the
           Chinese Labor Market
    • Abstract: Publication date: Available online 6 January 2017
      Source:China Economic Review
      Author(s): Ailun Xiong, Hongyi Li, Hans Westlund, Yongjian Pu
      This study first investigates determinants of job searching strategies and then examines if social networks are connected with better job outcomes. Unlike previous studies that focus solely on income, this paper pays more heed to job satisfaction. Based on data drawn from China General Social Survey, we find that disadvantaged job seekers rely primarily on informal channels; whereas experienced and better-educated job seekers tend to search for jobs through formal channels. However, those reaping the largest benefit from using networks are the job seekers who are able to use formal and informal channels jointly. By disaggregating the whole sample, we further find that the promoting effect of network use is contingent on factors such as gender and types of jobs. Network use brings about larger benefits to female and job seekers target to prestigious occupations. Finally, it appears that whether a job seeker can receive influential help depends primarily on the social status of the contacts rather than their tie strength. The results of our paper thus urge us to examine the combination of different searching strategies rather than studying them separately.

      PubDate: 2017-01-06T19:07:17Z
       
  • A dilemma of fertility and female labor supply: Identification using
           Taiwanese twins
    • Abstract: Publication date: Available online 4 January 2017
      Source:China Economic Review
      Author(s): Junchao Zhang
      Using micro-data from the Taiwan Population and Housing Census, this study estimates the causal effect of fertility on the labor supply of married women. To address the endogeneity of fertility, we exploit exogenous variations in the number of children caused by twin births, which can be considered a natural experiment. The instrumental variable estimates indicate that an additional child reduces female employment by 10.5 percentage points for those who have at least one delivery, and the effects gradually decline for females who have two or more deliveries, with the effects vanishing when females have three or more deliveries. Also, the effect of fertility varies substantially with the time elapsed since the last childbirth, which has a consequence for differences in estimates across different samples in the literature.

      PubDate: 2017-01-06T19:07:17Z
       
  • The Impact of an Academic High School Tuition Relief Program on
           Students’ Matriculation into High Schools in Rural China
    • Abstract: Publication date: Available online 27 December 2016
      Source:China Economic Review
      Author(s): Yunli Bai, Linxiu Zhang, Hongmei Yi, Liming Zheng, Scott Rozelle
      By 2010, only one-quarter of workers in China had received a high school (HS) education. One of the root causes of this low rate is that China has the highest HS tuition fees globally. Although the Chinese government has implemented a series of programs to reduce the cost of attending vocational HS, the cost of attending academic HS in China emains high. This study evaluates the extent to which an academic HS tuition relief program initiated by a poor county in western China affects students' schooling decisions after graduation from junior high school. By using a longitudinal dataset of 2348 students in two counties, we use ordinary least squares and propensity score matching to evaluate the impact of this program on four student outcomes: matriculation into academic HS, matriculation into vocational HS, entering the labor market, and retaking high school entrance exams. The results show that the program significantly increased matriculation into academic HS by 21 percentage points, while it reduced matriculation into vocational HS by 7 percentage points, the likelihood of entering the labor market by 11.9percentage points, and the likelihood of retaking exams by 2.1 percentage points. Further, we find that the effects of the program among middle-income students are stronger compared with those of other groups. And we found that the program had no significantly heterogeneous impact on students with different academic performance.

      PubDate: 2016-12-27T19:02:10Z
       
 
 
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