Since early January this year,the Japanese yen has beendepreciating steadily, from 128 and 129 to 130 yen perdollar,which is the lowest in the last 38 months. It seemsJapan is finally playing its exchange rate card af...Since early January this year,the Japanese yen has beendepreciating steadily, from 128 and 129 to 130 yen perdollar,which is the lowest in the last 38 months. It seemsJapan is finally playing its exchange rate card after fail-ing to revive its econmy through interest rate cuts andexpanding govemment expenditure. Do you think this"exchange rate card" can be the savior for Japan’seconomy? Is the yen depreciation the best choice to pre-vent its economy from falling further?展开更多
In 2006,China’s capital markets rocketed up 183 percent,and the impressive growth has continued in 2007,with the Shanghai Composite Index already toping 5,000 points.But officials and experts have shown their concern...In 2006,China’s capital markets rocketed up 183 percent,and the impressive growth has continued in 2007,with the Shanghai Composite Index already toping 5,000 points.But officials and experts have shown their concern that展开更多
Some media reports have contended that China’s rapid economic development has reached a “glass ceiling” and that a downward inflection point will appear as early as next year. Wang Tongsan, Director of the Institut...Some media reports have contended that China’s rapid economic development has reached a “glass ceiling” and that a downward inflection point will appear as early as next year. Wang Tongsan, Director of the Institute of Quantitative and Technical Economics of the Chinese Academy of Social Sciences, addresses China’s general economic outlook in the coming year in an interview with People’s Daily.展开更多
The financial turmoil that originated in the United States is rapidly spreading throughout the world, and China’s economy has been inevita- bly affected. To avoid risks, some foreign-
Based on the convergence hypothesis and referring to the experience of East Asian high-performing economies from 1950 to 2010, this paper projects and plots the potential growth rate of the Chinese economy over the ne...Based on the convergence hypothesis and referring to the experience of East Asian high-performing economies from 1950 to 2010, this paper projects and plots the potential growth rate of the Chinese economy over the next 20years. It predicts that the potential growth rate of per capita GDP adjusted by purchasing power parity averages at 6. 02 percent from 2015 to 2035, while the potential GDP growth rate of 2015 would still be above 8percent, which implies that the realized rate of growth has not reached its potential since 2012. Besides, based on the per capita GDP projected and on cross -country comparison, the paper plots the trajectory of structural change of the Chinese economy from 2015 to 2035. The result shows that： （i） the value-added share of primary industry will drop more rapidly than the employment share; （ii） the value-added share of secondary industry will decline and employment share will present an inverted U shape whose turning point will probably come between 2020 and 2025; （iii） both the value-added and employment share of tertiary industry will increase continuously.展开更多
This study adds to the understanding of China ＂s innovation prospects by examining how variations in institutional quality within China impact on the R ＆D efforts of firms located in different provincial regions. In...This study adds to the understanding of China ＂s innovation prospects by examining how variations in institutional quality within China impact on the R ＆D efforts of firms located in different provincial regions. In the process of identifying the effect of institutional quality, the roles of other factors such as ownership types and market structures are revealed, which provides interesting insight into firms ＂ R＆D behavior. The key findings suggest that institutional quality positively affects the decision offirms to engage in R＆D activities. Once firms start to engage in R ＆D, the subsequent expansion of firm-level R ＆D intensity depends on factors such as market structure. Therefore, strengthening domestic institutional quality is the first critical step towards the goal of building a knowledge-intensive economy in China. Efforts to nurture market development are also important for achieving this goal.展开更多
文摘Since early January this year,the Japanese yen has beendepreciating steadily, from 128 and 129 to 130 yen perdollar,which is the lowest in the last 38 months. It seemsJapan is finally playing its exchange rate card after fail-ing to revive its econmy through interest rate cuts andexpanding govemment expenditure. Do you think this"exchange rate card" can be the savior for Japan’seconomy? Is the yen depreciation the best choice to pre-vent its economy from falling further?
文摘In 2006,China’s capital markets rocketed up 183 percent,and the impressive growth has continued in 2007,with the Shanghai Composite Index already toping 5,000 points.But officials and experts have shown their concern that
文摘Some media reports have contended that China’s rapid economic development has reached a “glass ceiling” and that a downward inflection point will appear as early as next year. Wang Tongsan, Director of the Institute of Quantitative and Technical Economics of the Chinese Academy of Social Sciences, addresses China’s general economic outlook in the coming year in an interview with People’s Daily.
文摘The financial turmoil that originated in the United States is rapidly spreading throughout the world, and China’s economy has been inevita- bly affected. To avoid risks, some foreign-
文摘Based on the convergence hypothesis and referring to the experience of East Asian high-performing economies from 1950 to 2010, this paper projects and plots the potential growth rate of the Chinese economy over the next 20years. It predicts that the potential growth rate of per capita GDP adjusted by purchasing power parity averages at 6. 02 percent from 2015 to 2035, while the potential GDP growth rate of 2015 would still be above 8percent, which implies that the realized rate of growth has not reached its potential since 2012. Besides, based on the per capita GDP projected and on cross -country comparison, the paper plots the trajectory of structural change of the Chinese economy from 2015 to 2035. The result shows that： （i） the value-added share of primary industry will drop more rapidly than the employment share; （ii） the value-added share of secondary industry will decline and employment share will present an inverted U shape whose turning point will probably come between 2020 and 2025; （iii） both the value-added and employment share of tertiary industry will increase continuously.
基金financial support from the Rio Tinto-ANU China Partnership for my graduate work at the Australian National University is gratefully acknowledged
文摘This study adds to the understanding of China ＂s innovation prospects by examining how variations in institutional quality within China impact on the R ＆D efforts of firms located in different provincial regions. In the process of identifying the effect of institutional quality, the roles of other factors such as ownership types and market structures are revealed, which provides interesting insight into firms ＂ R＆D behavior. The key findings suggest that institutional quality positively affects the decision offirms to engage in R＆D activities. Once firms start to engage in R ＆D, the subsequent expansion of firm-level R ＆D intensity depends on factors such as market structure. Therefore, strengthening domestic institutional quality is the first critical step towards the goal of building a knowledge-intensive economy in China. Efforts to nurture market development are also important for achieving this goal.
