Negotiations for the Trans-Pacific Partnership （TPP） Agreement have concluded, but the TPP still must be ratified by each of the 12 member countries. China is the world＇s second largest economy and yet it has not j...Negotiations for the Trans-Pacific Partnership （TPP） Agreement have concluded, but the TPP still must be ratified by each of the 12 member countries. China is the world＇s second largest economy and yet it has not joined the TPP. This has provoked much debate in China as to the best strategic approach to the TPP This paper analyzes China＇s possible strategy for the TPP agreement. We make three key points. First, the security of market access should be China＇s main concern in any free-trade agreement negotiations, regrettably, it is not included in TPP. The second point is that the present TPP agreement is somewhat diminished from its ambitious original claims. We suggest four strategies for China. The first is to promote the development of China＇s remaining regional and bilateral free trade agreements （FTAs）. The second is to negotiate a bilateral FTA with the United States. The third is to promote deep domestic reforms via enlarged TPP coverage. The last is negotiating entrance to the entering do not worsen. TPP as soon as possible so that terms of展开更多
International capital flows from rich to poor countries can be regarded as either too small(the Lucas paradox in a one-sector model)or too large(when compared with the logic of factor price equalization in a two-secto...International capital flows from rich to poor countries can be regarded as either too small(the Lucas paradox in a one-sector model)or too large(when compared with the logic of factor price equalization in a two-sector model).To resolve the paradoxes,we introduce a non-neoclassical model which features financial contracts and firm heterogeneity.In our model,free trade in goods does not imply equal returns to capital across countries.In addition,rich patterns of gross capital flows emerge as a function of financial and property rights institutions.A poor country with an inefficient financial system may simultaneously experience an outflow of financial capital but an inflow of FDI,resulting in a small net flow.In comparison,a country with a low capital-to-labor ratio but a high risk of expropriation may experience an outflow of financial capital without a compensating inflow of FDI.展开更多
One of the major adaptation mechanisms to climate change is increased demand for cooling via the air conditioning of indoor environments. China＇s demand for air conditioners has displayed explosive growth since 1995....One of the major adaptation mechanisms to climate change is increased demand for cooling via the air conditioning of indoor environments. China＇s demand for air conditioners has displayed explosive growth since 1995. This paper provides estimates of the income and short run weather sensitivity of air conditioner adoption across urban areas for 29 Chinese provincial entities. We show that the adoption decision displays significant income and weather sensitivity in the short run, with adoption being higher the year following a hot summer.展开更多
This paper studies the patterns and key determinants of staged economic development. We construct a two-sector dynamic general equilibrium model popu- lated with one-period lived non-overlapping generations, feasting ...This paper studies the patterns and key determinants of staged economic development. We construct a two-sector dynamic general equilibrium model popu- lated with one-period lived non-overlapping generations, feasting endogenous en- hancement in modern technology and endogenous accumulation of labor skills and capital funds. We consider preference biases toward the traditional sector of necessi- ties, capital barriers to the modern sector, and imperfect substitution between skilled and unskilled workers. By calibrating the model to fit historic U.S. development, we find that modern technologies, saving incentives and capital scales/barriers are the most important determinants of the takeoff time. By evaluating the process of eco- nomic development, we identify that what shapes saving incentives is most crucial for the speed of modernization after taking off. We further establish that labor, capital and output are most responsive to the initial state of modern technologies, but least responsive to skill endowments, along the dynamic transition path.展开更多
China's advance to the forefront of scientific research is one of the 21st century's most surprising developments,with implications for a world where knowledge is arguably "the one ring that rules them al...China's advance to the forefront of scientific research is one of the 21st century's most surprising developments,with implications for a world where knowledge is arguably "the one ring that rules them all. "This paper provides new estimates of China's contribution to global science that far exceed estimates based on the proportion of papers with Chinese addresses in databases of international journals.Address-based measures ignore articles written by Chinese researchers with non-Chinese addresses and articles in Chinese language journals not indexed in those databases.Taking account of these contributions,we attribute 36 percent of 2016 global scientific articles to China. Taking account of increased citations to Chinese-addressed articles relative to the global average as well,we attribute 37percent of global citations to scientific articles published in 2013 to China.With shares of articles and citations more than twice its share of global population or GDP,China has achieved a comparative advantage in knowledge that has implications for the division of labor and trade among countries and for the direction of research and of technological and economic development worldwide.展开更多
文摘Negotiations for the Trans-Pacific Partnership （TPP） Agreement have concluded, but the TPP still must be ratified by each of the 12 member countries. China is the world＇s second largest economy and yet it has not joined the TPP. This has provoked much debate in China as to the best strategic approach to the TPP This paper analyzes China＇s possible strategy for the TPP agreement. We make three key points. First, the security of market access should be China＇s main concern in any free-trade agreement negotiations, regrettably, it is not included in TPP. The second point is that the present TPP agreement is somewhat diminished from its ambitious original claims. We suggest four strategies for China. The first is to promote the development of China＇s remaining regional and bilateral free trade agreements （FTAs）. The second is to negotiate a bilateral FTA with the United States. The third is to promote deep domestic reforms via enlarged TPP coverage. The last is negotiating entrance to the entering do not worsen. TPP as soon as possible so that terms of
文摘International capital flows from rich to poor countries can be regarded as either too small(the Lucas paradox in a one-sector model)or too large(when compared with the logic of factor price equalization in a two-sector model).To resolve the paradoxes,we introduce a non-neoclassical model which features financial contracts and firm heterogeneity.In our model,free trade in goods does not imply equal returns to capital across countries.In addition,rich patterns of gross capital flows emerge as a function of financial and property rights institutions.A poor country with an inefficient financial system may simultaneously experience an outflow of financial capital but an inflow of FDI,resulting in a small net flow.In comparison,a country with a low capital-to-labor ratio but a high risk of expropriation may experience an outflow of financial capital without a compensating inflow of FDI.
文摘One of the major adaptation mechanisms to climate change is increased demand for cooling via the air conditioning of indoor environments. China＇s demand for air conditioners has displayed explosive growth since 1995. This paper provides estimates of the income and short run weather sensitivity of air conditioner adoption across urban areas for 29 Chinese provincial entities. We show that the adoption decision displays significant income and weather sensitivity in the short run, with adoption being higher the year following a hot summer.
文摘This paper studies the patterns and key determinants of staged economic development. We construct a two-sector dynamic general equilibrium model popu- lated with one-period lived non-overlapping generations, feasting endogenous en- hancement in modern technology and endogenous accumulation of labor skills and capital funds. We consider preference biases toward the traditional sector of necessi- ties, capital barriers to the modern sector, and imperfect substitution between skilled and unskilled workers. By calibrating the model to fit historic U.S. development, we find that modern technologies, saving incentives and capital scales/barriers are the most important determinants of the takeoff time. By evaluating the process of eco- nomic development, we identify that what shapes saving incentives is most crucial for the speed of modernization after taking off. We further establish that labor, capital and output are most responsive to the initial state of modern technologies, but least responsive to skill endowments, along the dynamic transition path.
文摘China's advance to the forefront of scientific research is one of the 21st century's most surprising developments,with implications for a world where knowledge is arguably "the one ring that rules them all. "This paper provides new estimates of China's contribution to global science that far exceed estimates based on the proportion of papers with Chinese addresses in databases of international journals.Address-based measures ignore articles written by Chinese researchers with non-Chinese addresses and articles in Chinese language journals not indexed in those databases.Taking account of these contributions,we attribute 36 percent of 2016 global scientific articles to China. Taking account of increased citations to Chinese-addressed articles relative to the global average as well,we attribute 37percent of global citations to scientific articles published in 2013 to China.With shares of articles and citations more than twice its share of global population or GDP,China has achieved a comparative advantage in knowledge that has implications for the division of labor and trade among countries and for the direction of research and of technological and economic development worldwide.
