Social and Behavioral Sciences Commons^™

Essays On Foreign Direct Investment, Agglomeration And Productivity, Fariha Kamal

Economics - Dissertations

This dissertation investigates the role of foreign direct investment and agglomeration economies in the process of industrial development, with a focus on the productivity of manufacturing firms. The first chapter analyzes the importance of the source of foreign direct investment on the performance of domestic Chinese firms. The second chapter studies the interaction between foreign and domestic manufacturing firms operating in the same industry and located within the same Chinese city. The third chapter examines the response of multinational companies to changes in domestic institutions. My findings highlight the importance of the source of foreign direct investment, proximity to economic …

Sustaining Growth: A Projection Of China’S Rebalancing Efforts Towards Domestic Consumption, Yugai Zhu

Senior Projects Spring 2011

According to the macroeconomic identity, combined private sector and public sector balance should match current account balance in any economy. This senior project applies the macroeconomic identity to Chinese data, and analyzes systematically China’s economic structure. The analysis finds that China is not as reliant on trade as people normally think despite that the private sector is running a large surplus. Furthermore, it also shows that the private sector can be induced to spend more, and the public sector has much potential to increase deficit spending. Based on these results, I recommend a combination of 10% to 20% exchange rate …

China And The United States' Recovery From The Global Financial Crisis, Yufei Wang

Electronic Theses and Dissertations

Faced with the global financial crisis, which has a large impact on the world's economy, China and the United Stated took different actions to pull the economy out of it, based on the fairly different financial, fiscal, and even political systems they have. This thesis focuses on the comparison of the financial and fiscal systems and trade structures between the two different countries, and how these have impact on their stimulus packages, thus influencing the economic recovery as a whole.

The Driving Forces Behind The Recent Housing Market Development In Hong Kong : Fundamentals? Bubbles? Policy?, Ki Chiu Lo

Lingnan Theses

By examining the driving forces behind the recent housing market development in Hong Kong, this thesis offers an explanation for the effects of the ―Capital Investment Entrant Scheme‖ and the movements in the exchange rate between HKD and RMB on the housing prices of the overall market and two sub-markets. Induced by record-low mortgage rates and decreasing amount of new dwelling units completion, housing prices in Hong Kong surged to a record high level recently. To test the equilibrium price of housing, cointegration tests will be used to identify whether there is overvaluation in recent property market. At the end …

Ceo's Pay Differentials And The Location Of Ipos : An Empirical Study For Chinese A-Share And H-Share Companies, Yi Liu

Lingnan Theses

This thesis provides an empirical investigation on how different public listing locations affect the CEO (chief executive officer)’s pay of Chinese SOEs (State Owned Enterprises) and whether such a pay differential would in turn affect the listing location choice by those firms, which have not received much attention in the current literature. In particular, we focus on two stock markets, the mainland (including Shenzhen and Shanghai) A-share market and Hong Kong H-share market. Unlike what have been found in many other markets, where firms listed in the foreign markets can normally enjoy a price premium, Chinese firms listed in the …

Rmb Exchange Rate Reform And Cross Listed Stock Price Disparity, Yuqian Rong

Lingnan Theses

A growing number of Chinese corporations have been listing their shares on foreign stock markets. Hong Kong Stock Exchange (HKEX) and New York Stock Exchange (NYSE) are their major targets. Taking China’s exchange rate system reform as a unique event, I examine the price disparity between A-share and H-share (or ADR) using a sample of 28 Chinese companies listed in Shenzhen, Shanghai, Hong Kong, and New York. I conduct a panel-data investigation to examine the price disparity before and after the transition from the pegged to the managed floating exchange rate.

I have obtained several important findings in this study. …

The Gift That Keeps Giving: Fdi Inflows In China, Joseph Chang

CMC Senior Theses

This paper investigates the primacy of foreign direct investment inflows in liberalizing China’s economy and whether the long-term gains from economic openness will justify its inefficient energy uses and growing regional income disparities. By examining the history of FDI inflows in China, it becomes evident that FDI inflows were an instrumental part in institutional and technological development in China. I extend the argument to take into account how these developed infrastructures react to China’s growing energy demand in light of a shrinking world supply. Lastly, I perform a meta-analysis on the Environmental Kuznets Curve theory and the Pollution Haven Hypothesis, …