Economics Commons^™

Corporations And Social Costs: The Wal-Mart Case Study, Benedict Sheehy

ExpressO

This article examines the role of the corporate vehicle in the creation of social costs. The article identifies some of the political commitments and philosophies behind the differing notions of corporations. Social costs are those activities which result from business activity and cause uncompensated harm to society. The founding contribution to the law and economics discussion by Ronald Coase is given a thorough treatment. The paper next, turns to the dominant explanation of corporate structure, namely the law and economics model developed expounded by Easterbrook and Fischel. It then applies the theoretical discussion in a case study of the world’s …

Valuing Cultural Differences In Behavioral Economics, Justin D. Levinson, Kaiping Peng

ExpressO

Behavioral economic research has tended to ignore the role of cultural differences in economic decision-making. The authors suggest that a systematic bias affects existing behavioral economic theory-- cognitive biases are often assumed to be universal. To examine how cultural background informs economic decision-making, and to test framing effects, morality effects, and out-group effects in a cross-cultural study, the authors conducted an experiment in the United States and China. The experiment was designed to test cultural and cognitive effects on a fundamental economic phenomenon-- how people estimate the financial values of objects over time.

Results of the experiment demonstrated dramatic cultural …

Chinese Modernization And The Development Of Minority Economies, Stephen Bisogno

Seton Hall University Dissertations and Theses (ETDs)

.

Westernization Of Business Organizations In Japan And China. Continuity And Change, Wai Keung Chung

Research Collection School of Social Sciences

No abstract provided.

An Empirical Examination Of Ipo Underpricing In The Chinese A-Share Market, Ting Yu, Yiu Kuen Tse

Research Collection School Of Economics

Research in the literature shows that initial public offerings (IPOs) of common stocks are systematically priced at a discount to their subsequent initial trading price. The large underpricing magnitude in the Chinese IPO market has attracted much attention. We consider three hypotheses that may explain the IPO underpricing in China. These are the winner's curse hypothesis, the ex ante uncertainty hypothesis and the signaling hypothesis. Among these hypotheses, the winner's curse hypothesis has not been tested in the Chinese market. Using IPO data for online fixed-price offerings from November 1995 to December 1998, our results show that the winner's curse …

Is It A Subsidy? An Evaluation Of China's Currency Regime And Its Compliance With The Wto, Matthew R. Leviton

ExpressO

No abstract provided.

Evaluating Job Training In Two Chinese Cities, Benu Bidani, Chor-Ching Goh, Niels-Hugo Blunch, Christopher J. O'Leary

Upjohn Institute Working Papers

Recent years have seen a surge in the evidence on the impacts of active labor market programs for numerous countries. However, little evidence has been presented on the effectiveness of such programs in China. Recent economic reforms, associated massive lay-offs, and accompanying public retraining programs make China fertile ground for rigorous impact evaluations. This study evaluates retraining programs for laid-off workers in the cities of Shenyang and Wuhan using a comparison group design. To our knowledge, this is the first evaluation of its kind in China. The evidence suggests that retraining helped workers find jobs in Wuhan, but had little …

Motivating China To Play Fair In Global Markets, William H. Lash Iii

Center for Applied Economics

This is my second trip here to Lindenwood. I can see the progress that has been made in providing even better facilities for the students in just the year and a half that have elapsed. I appreciate the opportunity to meet again with Lindenwood students and faculty and citizens of St. Charles and St. Louis Counties.

If you ask any nation’s trade officials about trade policy and investment, China will be on the tip of their tongues right now. Everyone is focusing on China. China is the big dragon in the room that is absorbing tremendous amounts of resources: everything …

The Adequacy Of Health Care Services For The Elderly In China, Lexi Funk

Undergraduate Research Symposium (UGRS)

This study examines the adequacy of health care services for the elderly in China, specifically focusing on the influence of location, method of payment, living situation, and financial status. The study finds that rural residents, respondents living alone and respondents unable to meet all of their daily costs have a lower probability of reporting the availability of adequate health care. It also investigates the reasons why elderly respondents do not visit the hospital when it is necessary, concluding that financial and distance constraints are main deterrents. Finally, changes in the reported adequacy of health care over time are taken into …

An Empirical Examination Of Ipo Underpricing In The Chinese A-Share Market, Ting Yu, Yiu Kuen Tse

Research Collection School Of Economics

Research in the literature shows that initial public offerings (IPOs) of common stocks are systematically priced at a discount to their subsequent initial trading price. The large underpricing magnitude in the Chinese IPO market has attracted much attention. We consider three hypotheses that may explain the IPO underpricing in China. These are the winner's curse hypothesis, the ex ante uncertainty hypothesis and the signaling hypothesis. Among these hypotheses, the winner's curse hypothesis has not been tested in the Chinese market. Using IPO data for online fixed-price offerings from November 1995 to December 1998, our results show that the winner's curse …

Evolutions Of Institutions In China, Sun He, John Sondey

Economics Staff Paper Series (1969 - 2017)

Economic reforms in rural development are of special significance to the future of agriculture in China and hence the Chinese economy. This paper follows the trend of changes in agricultural institutions in China, and explains the reasons why those reforms should occur and the direction they would give the Chinese economy. Unlike many articles which have described China's reforms as a process of the government's self-selection, this paper considers the variety of forces pushing Chinese reforms in agriculture forward; not only government's policies but also farmers' reactions to and their interactions with farm policy. Since 1978, many policies directed at …

New Rules To The Old Great Game: An Assessment Of The Shanghai Cooperation Organization's Proposed Free Trade Zone, Leland Rhett Miller

Maryland Series in Contemporary Asian Studies

No abstract provided.

The Asian Financial Crisis And Banking Reform In China And Vietnam, Thomas Gottschang

Economics Department Working Papers

The collapse of financial markets and exchange rates across Southeast and East Asia in 1997 and 1998 affected the economies of China and Vietnam much less than those of most other Asian countries. Ironically, the two transitional economies were protected to a great extent by the incomplete nature of their banking reforms and financial market development. The yuan and the dong were not yet traded internationally, securities markets were in very early stages of development, and tax codes, trade regulations, and accounting standards in the two countries did not yet fully conform to international norms. Yet the non-convertibility of their …

Has Training Helped Employ Xiagang In China? A Tale From Two Cities, Benu Bidani, Chor-Ching Goh, Christopher J. O'Leary

Reports

This study evaluates the effectiveness of training programs for workers retrenched from Chinese state-owned enterprises in the cities of Shenyang and Wuhan. A variety of impact estimators were applied, however ordinary least squares (OLS) controlling for observable characteristic s was robust. We find that training dampens reemployment prospects in Shenyang but improves them in Wuhan. Training impact estimates computed by propensity score and log odds ratio matching imposing various support condition rules, yielded estimates very similar to those from the OLS. The estimates suggest that participation in training reduces the probability of being employed one year after participation by about …

Capitalizing On Market Reforms: Facets Of Legal Development In Contemporary China, Stefanie Elbern

Human Rights & Human Welfare

A review of:

Law and Justice in China’s New Marketplace by Ronald C. Keith and Zhiqiu Lin. New York: Palgrave, 2001. 315pp.

and

Profits and Principles: Global Capitalism and Human Rights in China by Michael A. Santoro. Ithaca, NY: Cornell University Press, 2000. 256pp.

Economic Ties Between China And Pakistan, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Three decades ago, China was among the world’s poorest countries with 80 per cent of the population having incomes less than US $ 1 per day and only a third of all adults able to read or write. By 2000, China had become one of the fastest growing countries in the world with real per capita growth close to 9 per cent per annum between 1980-2000. Consequently, China’s per capita income doubled every ten years, faster than almost any country in the world. This record is un-paralleled in history. It took UK almost a century, USA 50 years and Korea …

Reading Changes In Family Support Through Regional Development In China, Ge Lin

Regional Research Institute Working Papers

This article examines the degree to which the traditional family support system would be reshaped by the modernization and industrialization from a geo-developmental perspective. In particular, we examine the impact of rapid social changes and economic developments on family support for older parents in contemporary urban China to assess trends that might lead to a different path from the western style of old-age support purported by modernization theory. Based on the 1992 Survey on China’s Support Systems for the Elderly, the study divides the sample from three levels of economic development, which in turn, are used as proxies for developmental …

The Effect Of China's Economic Reform Program On The Employment Structure In China's Urban Areas, Feng Xu, Scott Fausti, Dwight Adamson, H. Kim

Economics Staff Paper Series (1969 - 2017)

A review of China's economic and political reforms since 1978 is provided and then linked to structural change in China's urban labor force as a result of the reform process. Analysis of data on urban labor allocation in China from 1978-97 indicates labor is being reallocated from the public sector to the private sector at a very rapid pace. The data indicates the urban labor has doubled and employment in the private sector has increased from nearly zero to a little over 30% in a 20 year period. The data also suggest that Chinese estimates of urban employment and unemployment …

United States, China, Taiwan: A Precarious Triangle, Murray L. Weidenbaum

Murray Weidenbaum Publications

The economic, political, military, and environmental implications of a growing China are addressed.

The Labor Income Tax Equivalent Of Price Scissors In Pre-Reform China, Hiroyuki Imai

CAPS Working Paper Series

The government in a centrally planned economy can raise investable resources through price and wage manipulation. By treating price and wage controls as an implicit form of labor income taxation. I have assessed the scale of resource transfers from households to the government in pre-reform China. From the observed rise of the labor income share in the non-agricultural sector output resulting from price and wage liberalization since 1979, the implicit tax revenue during the 1964-78 period is assessed as 10.1 % of GDP. According to estimates based on a two-sector model, this implicit labor income tax led to implied reduction …

Creating A Comprehensive Policy Toward China, Murray L. Weidenbaum

Murray Weidenbaum Publications

Murray Weidenbaum discusses the importance of establishing a relationship with China.

Design For A Net Impact Evaluation Of Retraining In China, Christopher J. O'Leary

Reports

The main aim of the national reemployment project in China is to redeploy workers identified as redundant within urban state owned enterprises (SOEs) to new jobs. As part of a larger effort to document the success of the reemployment project in China, a net impact analysis of retraining will be performed using a sample drawn from three cities which span the range of economic conditions in China: Shanghai, Wuhan and Shenyang. This paper presents a practical design for the sampling necessary to undertake the evaluation.

中國貿易保護代價的測算 : 方法、結論和意義 = An Estimate Of The Welfare Cost Of Protection In China, Shuguang Zhang

CAPS Working Paper Series

本項研究是一項實証研究,目的在於計算中國貿易保護的程度和貿易自由化的福利效應, 並對計算結果進行初步分析和國際比較。

This study was sponsored by the Institute of International Economics in the United States. Jointly conducted by Zhang Shuguang, Zhang Yansheng, and Wan Zhongxin, it has estimated, for the first time, the elasticity of demand for 25 of China’s major import categories. It has also estimated the welfare cost of protection in China and has made comparison with that in other selected countries.

Relative Gains Problem And Case Studies Of Economic Cooperation In East Asia, Ping Deng

Graduate Program in International Studies Theses & Dissertations

Relative gains problem basically means unequal cooperative payoffs disproportionately favoring partners. With the relative gains problem widely accepted as a serious impediment to international cooperation, some scholars have theoretically argued or modeled several conditions that are most likely to foster a state's sensitivity to relative gains and thus substantially affect the prospects for cooperation. But little empirical work has been done to date. The central objective of this dissertation is to test whether those theoretical propositions can be supported by empirical evidence. For this purpose, we have deducted three hypotheses: (1) If a state faces military threat and zero-sum political …

Pre-Commitment Vs. Flexibility : Uncertainty And Distribution Reform In P.R. China, Kong Wing, Clement Chow

Hong Kong Institute of Business Studies Working Paper Series

The Chinese economic reform is remarkably different from the East European reforms in which the Chinese model emphasizes competition over privatization. This paper explains why the Chinese distribution reform is successful, although the Chinese government has made no attempt in privatizing her inefficient state-owned enterprises. By extending Coughlan's (1 985) price competition model to endogenize the pre-commitment versus flexibility decision, it is shown that reducing uncertainty can encourage enterprises to pre-commit their investment which allows further development of the retail sectors. This results supports the gradual pace of distribution reform policy of China. By contrast, the 'renolutionary' East European model …

The Future Of China: Three Scenarios, Murray L. Weidenbaum

Murray Weidenbaum Publications

This article looks at the rise of China as a world power and how this will impact American businesses.

Export Competitiveness Of China And Asean In The Us Market, Thomas J. Voon

CAPS Working Paper Series

This paper aims to provide a comparison of the changing pattern of export competitiveness among China and the four ASEAN countries comprising Indonesia, Malaysia, Singapore and Thailand (hereafter ASEAN-4) as exporters of primary commodities, labour-intensive goods as well as technology-intensive manufactures in the US market. Competitiveness is defined as country A’s ability to gain market share on a common export destination (such as the US import market). There are many popssible factors contributing to the changing level of competitiveness of a trading country. In this paper, we confine our analyss to evaluating how important relative changes in real exchange rate, …

Growth-Inflation Tradeoff In China, Hiroyuki Imai

CAPS Working Paper Series

The high growth and wide fluctuations of fixed investment are the main driving forces of the rate of inflation in China in the reform period. Investment expansion generates strong demand pressures in the consumption goods market. Its inflationary impact is magnified further as it brings about higher wage costs during a boom. An implied short-run tradeoff is derived from dynamic simulation of a small macroeconomics model. In a given year, each additional percentage point of economic growth or investment growth leads to, respectively, a 2.7 or a 0.9 percent increase in the rate of inflation that year.

Options For Market Reforms In China, Penelope B. Prime

Faculty Articles

Most of the former planned economies are in the midst of major economic transitions. In these economies the questions being addressed no longer deal with whether or not they should reform--their very economic survival and future development rest on how to proceed with reform. In the former Soviet Union and eastern Europe, the questions are down to nuts and bolts: how to privatize and encourage market behavior quickly before chaos clouds the situation further. In China, the leadership is attempting to improve efficiency via small scale private ownership and markets while improving the state sector.

Growth Into A Market Economy : The "Incremental Approach" In China, Gang Fan

Centre for Public Policy Studies : CPPS Working Paper Series

No abstract provided.