Social and Behavioral Sciences Commons^™

China: Reserve Requirements, 2015–2016, Carey K. Mott

Journal of Financial Crises

After China devalued the renminbi against the US dollar in August 2015, Chinese equity markets experienced a significant drop that spilled into international markets. The People’s Bank of China (PBOC) adjusted the reserve requirement ratio (RRR) five times between February 2015 and October 2015: three times before the market turmoil, to allocate credit to preferred sectors, and twice in response to the crisis to release liquidity into the financial system. Throughout this cycle, the central bank applied lower RRRs to rural credit institutions, agricultural lenders, leasing and financing companies, and other sectors in which government policy promoted lending. Although the …

China: Reserve Requirements, Gfc, Carey K. Mott

Journal of Financial Crises

In 2008, China experienced several natural disasters that slowed economic growth, and fearing contagion from the Global Financial Crisis (GFC), the central bank cut the reserve requirement ratio (RRR) three times for large financial institutions, to 15.5%, and four times for small and medium-size financial institutions, to 13.5%. This monetary easing, combined with a USD 586 billion fiscal stimulus package, caused explosive credit growth in China. One year after these RRR cuts, the central bank hiked the ratio 12 times, to a historically high 21.5% for large banks in June 2011; however, it maintained a different ratio for rural credit …

Study On Pattern And Types Of Technological Innovation Efficiency Of Three Major Urban Agglomerations In China, Dan Cui, Guoping Li

Bulletin of Chinese Academy of Sciences (Chinese Version)

From the perspective of patent industry innovation chain, this paper analyzed the regional differences of the patent technology innovation efficiency and industrial technology innovation efficiency in Beijing-Tianjin-Hebei, the Yangtze River Delta and the Pearl River Delta, as well as the spatial patterns and industrial characteristics of cities with various types of technological innovation efficiency. It is found that there are significant differences in patent and industrial technology innovation efficiency among the three urban agglomerations. The patent technology innovation efficiency in the Pearl River Delta urban agglomeration is relatively high, while that in Beijing-Tianjin-Hebei and Yangtze River Delta urban agglomerations is …

Money Moves: An Analysis Of Chinese Foreign Direct Investment In Europe, Susan Soh

Honors Theses

In recent years, China has begun engaging in outward foreign direct investment (FDI). There is a significant amount of literature dedicated to understanding China’s FDI in developing nations. However, very little research has been conducted over Chinese FDI in advanced economies. As a result of this gap in existing literature, the question arises, what explains Chinese FDI in Europe?

As FDI is a transaction to which both the donor and recipient countries must agree, this thesis has a dual focus. One chapter of the thesis analyzes the effects of and motivations for Chinese FDI on European nations. In this chapter, …

Using Satellite-Observed Geospatial Inundation Data To Identify The Impacts Of Flood On Firm-Level Performances: The Case Of China During 2000–2009, Pao-Li Chang, Fan Zheng

Research Collection School Of Economics

Among the first in the literature, this paper combines high-resolution satelliteobserved inundation maps with geocoded firm-level data to identify the flood exposure at the firm level. We apply the methodology to study the impact of floods on microlevel firm performances in China for the period 2000–2009. Being hit by a flood is associated with an annual loss of output and productivity of around 6% and 5%, respectively, which persists in the long run. The effects are heterogeneous across types of firms and locations of the floods. Firms that are tangible-asset intensive are more negatively affected by the flood events. Meanwhile, …

Essays On Federalism And Local Finance In China, Jiakai Zhang

Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters that cover topics on federalism and local finance in China.

Chapter 1 - Economic Growth, Fiscal Inequality and Fiscal Decentralization: Evidence from China.

This paper investigates the impact of inequality in the geographic distribution of fiscal resources on regional economic growth under fiscal decentralization policy in the context of China's experience, using panel data for 28 provinces over the period 1987–2010. In the recent past, the structure of decentralized government in China has undergone two significant fiscal reforms: the ``Fiscal Responsibility System" (FRS) in 1987-1993, and the ``Tax Sharing System" (TSS) in 1994. I …

Skbi Big 5 Survey 2022 August, Singapore Management University

Sim Kee Boon Institute for Financial Economics

The latest survey results on the largest five economies (Big5) were revised markedly relative to the prior release (pre-Russia-Ukraine conflict), generally indicating weaker growth and higher inflation coupled with incremental ambiguity on the policy front.

The Exchange Rate System Reform In China: Some Important Results, Paul S. L. Yip, Yiu Kuen Tse, Yingjie Dong

Research Collection School Of Economics

We provide a review and empirical study on the exchange rate system reform in China. In the initial stage of the reform the Chinese central bank PBoC's implicit promise of gradual appreciation helped to contain the appreciation rate and volatility of the renminbi. Subsequently, under US pressure for faster appreciation and hence the PBoC's moderate violation of the implicit promise, there was a significant rise in the appreciation rate and the volatility of the renminbi. The moderate violation deteriorated further, forming a vicious cycle of speculative flows and faster exchange rate changes. Upon the onset of the global financial crisis …

Urban Utopia Or Pipe Dream? Examining Chinese-Invested Smart City Development In Southeast Asia, Yujia He, Angela Tritto

Patterson School of Diplomacy and International Commerce Faculty Publications

With increasing public–private partnership and international cooperation in smart city development across the Global South, Chinese firms are poised to take advantage of growing business opportunities, a situation that few studies have examined. This empirical case study of the Forest City, a Chinese-invested greenfield smart city project in Iskandar Malaysia, begins to fill that gap. This megaproject represents the coming together of overlapping economic development interests of the local authorities and the profit motivations of the Chinese investor. However, the project’s use of the ‘smart city’ discourse contrasts with the reality of limited technology adoption. Its visibility and considerable socio-economic …

Attenuation Of Agglomeration Economies: Evidence From The Universe Of Chinese Manufacturing Firms, Li Jing, Liyao Li, Shimeng Liu

Research Collection School Of Economics

This paper quantifies industry-specific spatial attenuation of agglomeration economies by taking advantage of unique geocoded administrative data on the universe of Chinese manufacturing firms. The estimates of industry-level attenuation speed further allow us to systematically assess the goodness of fit of various spatial decay functional forms and to evaluate the micro-foundations that govern the decay patterns across industries. We obtain three main findings. First, agglomeration spillovers attenuate by about 90 percent on average from 0-1 km to 1-5 km in China, with large heterogeneity in the extent of attenuation ranging from 73 percent to 116 percent across industries. Second, the …

Population Aging And Healthcare Costs In China And Japan, Sean Brown

Honors Theses

This study focuses on the natural demographic phenomenon known as population aging and its intersection with healthcare expenditures. Healthcare spending can be a major burden on a country’s economy, so it is important to accurately assess the connection between these two factors. Population aging occurs when countries reach a point in their demographic transitions characterized by declining total fertility rates and high life expectancy. This natural but undesirable position has implications for virtually all aspects of society, and all countries are trending towards aging. This study examines the cases of China and Japan in an effort to assess the validity …

Sino-Us Trade War, Erin Torgersen

Senior Honors Projects

China and the United States are unquestionably the two wealthiest economies in the world. These two countries alone account for almost half of the world’s wealth. As these nations battle to become the world's most powerful economy, it is no surprise high tensions have developed to complicate their relationship. China’s economy has been rapidly growing, especially in the last two decades as China is making its way towards the top of the list of strongest economies through its abundance of exports and manufacturing. Alternatively, as the U.S.’s economy has slowly decreased in the last few years, the gap between the …

Biden’S Options: Policy Recommendations On The Us-China Trade War, Marley Taylor Belanger

Undergraduate Theses and Capstone Projects

As talks of unprecedented inflation and the long-term impact of the pandemic are on the rise in the United States, it is critical to understand how the foreign policy choices of the US Government ultimately impact its economy. This paper aims to evaluate the impact of the economic tensions between the US and China as a result of the ongoing US-China Trade War. To examine the viability of proposed options, a cost-benefit analysis of Biden’s policy options is implemented based on a framework of escalation, de-escalation, or modification of the current US-China economic policy initiative. The analysis of these proposals …

Sandwiched Between A Rock And A Hard Place?, Thomas Lam, David Fernandez

Sim Kee Boon Institute for Financial Economics

The policy gap between US and China is likely to be widening further, potentially raising and unevenly distributing the risks of negative spillovers for Asia and the rest of the world.

Skbi Big 5 Survey 2022 February, Singapore Management University

Sim Kee Boon Institute for Financial Economics

The latest survey results on the largest five economies (Big5), based on submissions prior to the ongoing Russia-Ukraine conflict, imply a more intricate growth, inflation and policy dynamic.

Green, Clean, And Mean? China’S Foreign Direct Investment In Sub-Saharan Africa Economy, Makuochukwu Okoma

CGU Theses & Dissertations

This dissertation is an investigative study that utilized the Panel Vector Autoregressive (PVAR) model that examines the impact of China’s Foreign Direct Investment on the environment and economy of Sub-Saharan Africa (SSA). In evaluating this impact, 43 SSA countries were analyzed and subdivided into various income levels; three arguments were proposed and tested.First is China’s FDI in SSA, “green.” Does China’s FDI lead to sustainable growth and development for the environment in SSA.? Second, does China’s FDI clean up pollution through the reduction of Carbon dioxide (CO2) emissions? Lastly, does it lead to economic growth and development in SSA? The …

Chinese Neoglobalization In East Africa: Logics, Couplings And Impacts, Pádraig R. Carmody, James T. Murphy

Geography

The most significant case of transnational state capitalism today is China's Belt and Road Initiative (BRI) which seeks to expand/extend the country's geoeconomic and geopolitical integrations globally. We conceptualise the BRI as manifest principally through industrial offshoring, infrastructure investments and exports from China. These vectors articulate with particular places, forming transnational couplings that shape development outcomes. We examine the BRI's couplings and their development implications in the East African countries of Djibouti, Ethiopia and Kenya where China has engaged significantly. We demonstrate the contingent manner of BRI's variegations; its pragmatism, flexibility, and limitations as a hegemonic or developmental project.

Missouri Soybean Exports And The Democratizing Market Force, David D. Hammons

MSU Graduate Theses

A commonly held assumption of America’s post-Cold War place in the world is that prolonged contact with American capitalism and democracy will lead to the adoption of these systems in all nations that participate in international trade. This paper attempts to verify or disprove that assumption by examining a specific traded commodity between two specific nations, the institutions that support this trade, and the people actively participating in it. The growth of soybean exports from the state of Missouri provides this vehicle for examining the trade history between the United States of America and China, and provides evidence that disproves …