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Table of Content 期刊目录
- China’s capital account liberalization: a ruby jubilee and beyond
Yanliang Miao, Tue Deng
Pages: 245-271
- Financial sector opening and financial constraints: an empirical study based on China’s experiences
Liqing Zhang, Yan Zhang and Zhixiao Dong
Pages: 272-296
- The potential impact of China - India free trade agreement on Chinese and Indian industries
Vani Archana
Pages: 297-315
- Economic ramifications of China–United States trade war for the Russian Federation
Alexander Nikolaevich Semin, Alexander Ivanovich Kostyaev, Anatoly Sergeevich Truba, Vadim Vitalievich Ponkratov and Margarita Viktorovna Gagarina
Pages: 316-335
- Impact of regional interactions on China’s trade performance: evidence from a spatial econometric approach
Moussa K. Fall
Pages: 336-351
- Entropy-based China income distributions and inequality measures
Qiuzi Fu, Sofia B. Villas-Boas & George Judge
Pages: 352-368
Article Abstract 文章摘要
Yanliang Miao, Tue Deng
Pages: 245-271
Abstract：
Since Reform and Opening-up in late 1978, China has gradually opened many parts of its capital account, but the progress has been slower and bumpier than its current account liberalization. We review China’s four decades of capital account opening-up through the lens of three recurring debates. First, how open is China’s capital account and how much more needs to be done? Second, how committed is China to opening its capital account? Third, is China ready, and how to liberalize its capital account further? From China’s experience we draw good, bad, and ‘ugly’ lessons that answer to these three debates, and shed light on China’s capital account policy going forward. We conclude that policymakers are committed to opening up China’s capital account further. With the capital flow management framework upgraded, the challenge lies in coordinating capital account liberalization with financial and exchange rate reforms. The troika of a near-fully open capital account, a flexible exchange rate, and monetary independence best serves China’s long-term interests.
Link to the original text:
https://doi.org/10.1080/17538963.2019.1670472
Liqing Zhang, Yan Zhang and Zhixiao Dong
Pages: 272-296
Abstract:
The paper investigates the effect of financial sector opening on financial constraints based on the experiences in China. We firstly review the policy of China’s financial sector opening and set up exogenous policy measures. Then based on the panel data of listed firms from 2010 to 2015, we calculate four indices to measure China’s firm-level financial constraints through internal and external finance channels. We find that China’s financial sector opening alleviates financial constraints and upgrades the financing structure for China’s listed firms. Financial sector opening also eliminates ownership discrimination and promotes financing efficiency, to alleviate financial constraints of private enterprises and profitable enterprises. The mechanism of the effects of financial sector opening on financial constrain is mainly through the collateral channels and the elimination of information asymmetry.
Link to the original text:
https://doi.org/10.1080/17538963.2019.1656916
- The potential impact of China - India free trade agreement on Chinese and Indian industries
Vani Archana
Pages: 297-315
Abstract:
The world’s two largest developing economies, China and India are considering positive negotiations on the Free Trade Agreement, which would pave the way for more trade and a new breakthrough in ties. In this context, the present paper using trade indicators explore, that India and China are in between the ideal trading partners and perfect competitors and the trade relationship between the two economies is more intense than the world average for the partner. A partial equilibrium approach based on highly disaggregated trade data shows that in a scenario where China and India completely open up its markets, there could be huge potential to create an impact on trade and welfare in their specific areas where they enjoy a comparative advantage.
Link to the original text:
https://doi.org/10.1080/17538963.2019.1646953
- Economic ramifications of China–United States trade war for the Russian Federation
Alexander Nikolaevich Semin, Alexander Ivanovich Kostyaev, Anatoly Sergeevich Truba, Vadim Vitalievich Ponkratov and Margarita Viktorovna Gagarina
Pages: 316-335
Abstract:
The purpose of the article was to assess the impact of escalating China-United States trade war on the economic development of such countries as the Russian Federation, Poland, Turkey, Taiwan, Thailand, and South Africa. A cognitive map was developed to describe the general model of economic development of the countries under study, impacted by the trade war, which allowed for substantiation of a qualitative nature of the trade war ramifications in core economic sectors in the countries under consideration. The research results and recommendations are of scientific and practical importance, since they serve as the basis for elaborating further strategies to stem the risks of the escalating trade war to the countries engaged in international trade.
Link to the original text:
https://doi.org/10.1080/17538963.2019.1591573
- Impact of regional interactions on China’s trade performance: evidence from a spatial econometric approach
Moussa K. Fall
Pages: 336-351
Abstract:
In this paper, we examine the impact of regional interactions on China’s trade performance as supported by infrastructure development, using exports and imports of Chinese-owned and foreign-owned firms disaggregated for 28 provinces. Taking into account the disparities in the regional economic activities, we use five spatial weight matrices in a spatial panel lag and spatial panel error frameworks in the period 1996–2016. The spherical distance and the gasoline usage weight matrices measure the impact of ground connections on China’s trade flows. The nautical miles and the river distance weight matrices measure the impact of maritime and river connections on trade flows for provinces along the sea coast, in the Yangtze valley, and along Zhu river, respectively. We find significant cross border effects on provincial trade flows. The effects vary between areas and firms. Overall, our findings show positive influence of regional interactions on China’s international trade performance.
Link to the original text:
https://doi.org/10.1080/17538963.2019.1591572
- Entropy-based China income distributions and inequality measures
Qiuzi Fu, Sofia B. Villas-Boas & George Judge
Pages: 352-368
Abstract:
We use information theoretic information recovery methods, on a 2005 sample of household income data from the Chinese InterCensus, to estimate the income distribution for China and each of its 31 provinces and to obtain corresponding measures of income inequality. Using entropy divergence methods, we seek a probability density function solution that is as close to a uniform probability distribution of income (with the least inequality), as the data will permit. These entropy measures of income inequality reflect how the allocation and distribution systems are performing, and we show the advantages of investigating province variation in income inequality using entropy measures rather than Gini coefficients. Finally, we use a sample of data from the China Family Panel Study to recover an estimate of the 2010 and the 2016 to investigate possible directions of inequality changes using these different additional data sources, given that the 2015 Inter-Census is not yet available.
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