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on China |
| By: | Berger , Allen N (Federal Reserve Board); Hasan , Iftekhar (Lally School of Management,Rensselaer Polytechnic Institute, and Bank of Finland Research); Zhou, Mingming |
| Abstract: | China is reforming its banking system, partially privatizing and permitting minority foreign ownership of three of the dominant ‘big four’ state-owned banks. This paper seeks to help predict the effects of this change by analysing the efficiency of virtually all Chinese banks in the years 1994–2003. Our findings suggest the big four banks are by far the least efficient and foreign banks the most efficient while minority foreign ownership is associated with significantly improved efficiency. We present corroborating robustness checks and offer several credible mechanisms through which minority foreign owners can increase Chinese bank efficiency. These findings suggest that minority foreign ownership of the big four is likely to significantly improve performance. |
| Keywords: | foreign banks; efficiency; foreign ownership |
| JEL: | F23 G21 G28 G34 |
| Date: | 2007–10–10 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:bofrdp:2007_016&r=cna |
| By: | Huang, Can (UNU-MERIT); Soete, Luc (UNU-MERIT) |
| Abstract: | This paper addresses some of the challenges confronting the European Union and China as they build their knowledge economies, and their on-going and possible future actions to address such challenges. Fifty years after the creation of what became the European Union, we argue that there is an urgent need to develop a new European Lisbon Agenda, preparing the EU for globalization. A new and "outward-looking" Lisbon strategy would focus on three key areas: international trade in services, internationalization of research networking, and access to brains and talent. The paper shows that the success of the Chinese economy over the past three decades can be partially attributed to its ability to absorb globally advanced technology and huge flows of foreign investment, its large pool of knowledge and talent, and its enactment of a policy framework that provides incentives to domestic and foreign firms to innovate - a strategy very much reminiscent of Europe's own internal Lisbon agenda. To move further, China needs to overcome the obstacles of regional disparities, transform its industry and deepen industry-academy linkages, which are also unavoidable tasks for the sustainable development of Europe. We contend that the scope for comparative studies of the EU and China, for mutual learning from each other's experience - even for joint initiatives - is substantial. |
| Keywords: | Knowledge Economy, Industry-University Partnerships, Globalization, Internationalization, Highly Skilled Migration, European Union, China |
| JEL: | F02 F16 F22 L80 O32 |
| Date: | 2007 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:unumer:2007028&r=cna |
| By: | Fengxia Dong (Center for Agricultural and Rural Development (CARD); Food and Agricultural Policy Research Institute (FAPRI)) |
| Abstract: | Biofuels production is expanding rapidly all over the world, driven by rising crude oil prices, the desire of countries to be energy independent, and concerns about climate change. As developed countries, especially the United States, are expanding biofuels production, developing countries are expanding their biofuels industries as well, to power their growing economies. However, developing countries must address the food security issue when they develop biofuels. As China is a developing country with rapid economic growth, population growth, significant demand for fuels, and food security concerns, it serves as a good example for studying the opportunities and challenges faced by developing countries under current conditions. This study analyzes the background, history, and current situation of biofuels development in China. Some implications for developing countries are also provided. |
| Keywords: | biofuels, food security, China. |
| Date: | 2007–10 |
| URL: | http://d.repec.org/n?u=RePEc:ias:cpaper:07-bp52&r=cna |
| By: | Jose Miguel Albala-Bertrand (Queen Mary, University of London) |
| Abstract: | This analysis is based on the optimal consistency method (OCM) proposed by Albala-Bertrand (2003), which enables to estimate a capital stock for a benchmark year. This method, in contrast to most current approaches, pays due regards both to potential output and to the productivity of capital. From an initial OCM benchmark estimate, we produce series for the net capital stock, via a perpetual inventory method (PIM), for all China and some useful regional disaggregations over the 45-year period 1960-2005. As a by-product, we also make available the optimal productivities of incremental or “marginal” capital, corresponding to the net accumulated GFCF over 5-year sub-periods from 1960 onwards. We then attempt some structural analysis, showing that the quantity of resources rather than their quality appears to be largely behind growth rates, especially since the 1990s. |
| Keywords: | China, Benchmark capital, Perpetual Inventory Method (PIM), Potential output, Capital productivity, Optimal Consistency Method (OCM), Structural analysis |
| JEL: | O4 B4 E2 |
| Date: | 2007–10 |
| URL: | http://d.repec.org/n?u=RePEc:qmw:qmwecw:wp610&r=cna |