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Assessing infrastructure and trade connectivity through network analysis evidence from BRI countries China Economic Journal Pub Date : 2024-03-27 Sufrizul Husseini, Ahmed M Khalid, Gamini Premaratne
The Belt and Road Initiative (BRI) is the world’s largest infrastructure investment that aims to improve economic integration and connectivity throughout Asia, Europe, and Africa. This paper invest...
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Biodiversity in China: challenges, efforts and prospects China Economic Journal Pub Date : 2024-02-07 Yuanning Liang, Shilong Zhuang
Species extinctions and ecological degradation are accelerating to an unprecedented degree in human history, emphasizing the imperative need to understand the drivers of ecological degradation for ...
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The role of government social media in enhancing environmental governance China Economic Journal Pub Date : 2024-02-07 Huyang Chang, Yixuan Li, Mengdi Liu
In light of the advancements in information and communication technologies and growing concerns over environmental issues, environmental protection agencies are increasingly turning to official soc...
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Impacts of population aging on the quantity and quality of pharmaceutical innovation: evidence from OECD countries China Economic Journal Pub Date : 2023-09-12 Ke Shen, Zhenyi Huang
ABSTRACT Against the backdrop of rapid population aging, we examine the impacts of population aging on pharmaceutical innovation based on the panel data of OECD countries between 1997 and 2018. We show that population aging effectively boosts the quantity and quality of pharmaceutical innovation before the share of older adults approaches 14%, the threshold for the aged society. Once the country enters
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The international monetary system: evolution and revolution China Economic Journal Pub Date : 2022-09-04 Yanliang Miao, Xuan Fei
ABSTRACT Since the collapse of the Bretton Woods system in 1973, evolution has been the defining feature of changes in the IMS. The IMS has always been dominated by the US dollar. With it comes four structural issues: imbalance, lack of coordination, inade quacy, and weaponization of financial infrastructure. The Russia–Ukraine conflict will further accelerate the diversification and fragmentation
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Market expectation management and renminbi exchange rate policy under depreciation pressure China Economic Journal Pub Date : 2022-03-09 Mei Li
ABSTRACT Motivated by the capital outflow episode after the 8/11 renminbi exchange rate reform, we establish formal models to study renminbi exchange rate policy under depreciation pressure with a focus on its effect on market expectations. In an economy where capital controls are imposed, a central bank aims both to discourage speculative capital outflows and to reduce exchange rate misalignment.
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“RCEP from the middle powers’ Perspective” China Economic Journal Pub Date : 2021-05-31 Fukunari Kimura
ABSTRACT East Asian countries signed the Regional Comprehensive Economic Partnership Agreement (RCEP) in November 2020. This paper demonstrates the importance of ASEAN centrality in East Asian economic integration and makes a preliminary assessment of the agreement in terms of the four expected roles: liberalization, rulemaking, reducing policy risks, and forming a pro-trade middle power coalition
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The potential impacts and risks of global stablecoins China Economic Journal Pub Date : 2021-01-15 Cangshu Li, Yan Shen
ABSTRACT This paper aims to study the implications of the potential large-scale usage of global stablecoins. We start with describing the origin and the evolution of stablecoins, and then analyze the operational mechanism and application scenarios. An analysis on whether global stablecoins will lead to dollarization of a country’s monetary system is then followed, based on the monetary quantity theory
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Demographic changes and economic growth: impact and mechanisms China Economic Journal Pub Date : 2020-12-27 Qian Hu, Xiaoyan Lei, Bo Zhao
ABSTRACT Using panel data on 172 countries from 1960 to 2019, this paper empirically analyzes the impact of population aging on economic growth and explores the underlying mechanisms. We find that the aging of the population significantly reduces the economic growth rate: when the population over age 65 increases by 1 percentage point, the per capita economic growth rate decreases by 2.6 percentage
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Trade related sectorial infrastructure and exports of belt and road countries: does belt and road initiatives make this relation structurally instable? China Economic Journal Pub Date : 2020-11-02 Faheem Ur Rehman, Abul Ala Noman
ABSTRACT This study investigates the impact of infrastructure on export in Belt & Road countries during 1990–2017 by applying System GMM approach. The results confirmed the significant and positive impact of aggregate and sub-indices (i.e., transport, telecommunication, energy and financial sector) of infrastructure on export in total sample as well is in grouped samples (like Asia, Europe and Middle
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At a crossroads: consequential trends in recognition of community-based forest tenure from 2002-2017 China Economic Journal Pub Date : 2020-05-03 Chloe Ginsburg, Stephanie Keene
ABSTRACT Insecure, contested, and unjust forest tenure arrangements undermine forest investment and protection, fuel conflict, and jeopardize Indigenous Peoples’, local communities’, and indigenous and community women’s rights, livelihoods, and development prospects. While legally recognized community forests tend to have lower rates of deforestation, store more carbon and benefit more people than
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Environmental policy instruments and corruption China Economic Journal Pub Date : 2020-05-03 Richard Damania, Thomas Sterner, Dale Whittington
ABSTRACT In this paper we discuss the choice of taxation or regulation of environmental externalities. The subject might appear to be a well-trodden path, but we believe we have a new angle on this well-established question. We think we are being quite realistic when we assume that corrupt practices lurk behind every corner, threatening to derail the good intents of any regulator. With this starting
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What can blockchain do and cannot do? China Economic Journal Pub Date : 2020-04-10 Zhong Xu, Chuanwei Zou
ABSTRACT This paper studies the economic functions of blockchain. First, by explaining blockchain technologies from an economic perspective, it introduces the Token Paradigm to summarize mainstream blockchain systems, discusses the true meanings of consensus and trustlessness in the blockchain field, and analyzes the functions of smart contracts. Next, it categorizes major blockchain applications according
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Central Bank Digital Currency: optimization of the currency system and its issuance design China Economic Journal Pub Date : 2019-01-02 Yao Qian
ABSTRACT Central Bank Digital Currency (CBDC) contributes to optimizing payment functions of fiat money, reducing reliance on payment services provided by the private sector, alleviating regulatory burdens and pressure on the central bank, and strengthening the authority of fiat money. Moreover, issuance of CBDC helps to address dilemmas of modern monetary policies, including inefficiencies in policy
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Determinants of demand for technology in relationships with complementary assets among Japanese firms China Economic Journal Pub Date : 2017-05-04 Masayo Kani, Kazuyuki Motohashi
ABSTRACT There has been growing interest in open innovation by firms creating new value by combining internal and external ideas. Technology insourcing, however, has not been satisfactorily investigated compared to technology outsourcing in empirical literature. In this paper, we examine the determinants of external technology sourcing by types of the counterpart in new product development (NPD). We
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The political economy of preferential trade arrangements: The case of Japan China Economic Journal Pub Date : 2017-05-04 Arata Kuno, Fukunari Kimura
ABSTRACT Support for open trade regimes varies. We analyze Japanese survey data on individuals' preferences for TPP, unilateral import liberalization, and East Asian economic integration, and compare factors influencing policy preferences. First, despite the massive negative campaigns against TPP, 42.8% of individuals support Japan’s participation in TPP, vs. 21.1% against. Second, economic factors
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How chaebol restructuring after the 1997 crisis has affected corporate decision and performance in Korea: debt financing, ownership structure, and investment China Economic Journal Pub Date : 2017-05-04 Taeyoon Sung, Doyeon Kim
ABSTRACT Korean chaebol firms, characterized by excessive debt financing and overinvestment, experienced restructuring after the 1997 crisis. By reducing debt financing and thus overinvestment, they tried to reorganize financing structure and ownership structure. Chaebols’ debt reduction turns out to have improved performance. However, polarization between chaebol and non-chaebol firms has become more
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Competition policy vs. industrial policy as a growth strategy China Economic Journal Pub Date : 2017-05-04 Tatsuo Hatta
ABSTRACT This paper shows that competition policy, rather than industrial policy, generated the rapid economic growth in post-war Japan. It also reveals that Japan’s growth rate was lowered from the mid-1970s due to newly introduced industrial policies and paucity of further competition policy. The current Abe government recognises the need for competition policies in Japan to recover from the low-growth