In recent years,while the traditional trade sectors have been shrinking,China’s cross-border e-commerce has undergone rapid development and has become a new driver of its international trade.Based on analysis of the ...In recent years,while the traditional trade sectors have been shrinking,China’s cross-border e-commerce has undergone rapid development and has become a new driver of its international trade.Based on analysis of the evolution pattern of China’s cross-border e-commerce,this paper uses a revised gravity model to test empirically the driving factors and the resistance factors in the development of the country’s cross-border e-commerce.The results show that the total GDP,per capita disposable income of urban residents,total imports and exports,and the scale of the online shopping market have a positive relationship with cross-border e-commerce transactions,which are conducive to the development of cross-border e-commerce,while logistics costs inhibit the development of cross-border e-commerce.Accordingly,the paper puts forward several policy recommendations.展开更多
The paper investigates the relationship between changes in asset wealth and the trend movements of household consumption in urban China. Using the vector error correction cointegration model we demonstrate that there ...The paper investigates the relationship between changes in asset wealth and the trend movements of household consumption in urban China. Using the vector error correction cointegration model we demonstrate that there is a unique long-run cointegrating relationship between household consumption, disposable income, financial wealth and housing wealth in urban China. We find that housing wealth is the only factor that restores the long-run equilibrium relationship when the cointegrated system is disturbed by an external shock. In addition, our permanent-transitory variance decomposition analysis indicates that nearly all variance in the movement of consumption is permanent, supporting the classical random walk hypothesis of consumption behavior. However, a large proportion of variance in the short-run movements of housing wealth is found to be transitory.展开更多
基金supported by the National Social Science Foundation General Program (12BJY009)the National Natural Science Foundation (71673087)Shanghai Municipal Philosophy and Social Sciences Planning General Program (2018BJB025)
文摘In recent years,while the traditional trade sectors have been shrinking,China’s cross-border e-commerce has undergone rapid development and has become a new driver of its international trade.Based on analysis of the evolution pattern of China’s cross-border e-commerce,this paper uses a revised gravity model to test empirically the driving factors and the resistance factors in the development of the country’s cross-border e-commerce.The results show that the total GDP,per capita disposable income of urban residents,total imports and exports,and the scale of the online shopping market have a positive relationship with cross-border e-commerce transactions,which are conducive to the development of cross-border e-commerce,while logistics costs inhibit the development of cross-border e-commerce.Accordingly,the paper puts forward several policy recommendations.
基金financial supported from the China National Social Science Foundation(07CJL006)the Shanghai Pujiang Project 2007the Fudan University 211 Project(211XK06)
文摘The paper investigates the relationship between changes in asset wealth and the trend movements of household consumption in urban China. Using the vector error correction cointegration model we demonstrate that there is a unique long-run cointegrating relationship between household consumption, disposable income, financial wealth and housing wealth in urban China. We find that housing wealth is the only factor that restores the long-run equilibrium relationship when the cointegrated system is disturbed by an external shock. In addition, our permanent-transitory variance decomposition analysis indicates that nearly all variance in the movement of consumption is permanent, supporting the classical random walk hypothesis of consumption behavior. However, a large proportion of variance in the short-run movements of housing wealth is found to be transitory.
