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on China |
| By: | Sheung-Chi Chow (Research Institute of Business, Hang Seng Management College); Juncal Cunado (Facultad de Ciencias Economicas y Empresariales, Universidad de Navarra); Rangan Gupta (Department of Economics, University of Pretoria); Wing-Keung Wong (Department of Finance, Asia University and Department of Economics, Lingnan University) |
| Abstract: | In this paper, we modify the multivariate nonlinear causality test to be panel nonlinear causality test and we recommend academics and practitioners to carry out cross linear and nonlinear causality tests in their study.Thereafter, we apply the tests we proposed and other existing related tests to examine the causal relationship between Economic Policy Uncertainty (EPU) and real housing returns in China and India using monthly data from January 1998 to December 2014. While both panellinear and nonlinear Granger causality tests suggest the existence of only linear and nonlinear unidirectional causality relationships from EPU shocks to real housing returns in both China and India, and bivariate linear Granger causality test suggest the existence of only linear unidirectional causality relationship from EPU shocks to real housing returns only in China, nonlinear bivariate Granger causality test conclude that the existence of nonlinear bidirectional causality relationships between EPU shocks and real housing returns in both China and India and cross bivariate linear and nonlinear Granger causality tests discover that there is only a linear causality relationship from Indian EPU shocks to Chinese housing returns. The results confirm the relevance of EPU data to better understand and predict the future behaviour of housing market returns in these countries. |
| Keywords: | Economic policy uncertainty; Housing market returns; Granger causality linear and nonlinear tests |
| JEL: | C32 G10 R30 |
| Date: | 2016–10 |
| URL: | http://d.repec.org/n?u=RePEc:pre:wpaper:201674&r=cna |
| By: | Dasgupta, Sukti.; Matsumoto, Makiko.; Xia, Cuntao. |
| Abstract: | Although the rate is relatively high in China, it has declined in recent years, as has the employment to population ratio. Furthermore, there is a significant wage gap between women in and men, much of which remains “unexplained” when we carry out a decomposition analysis. To improve gender equality in the labour market, the paper points to four areas that require further attention from a policy perspective: (1) measures to promote equal access to employment for women and men; (2) creation of an enabling environment for workers with family responsibilities; (3) improved coverage of social security measures, especially for rural women; and (4) design of an appropriate retirement policy. |
| Keywords: | gender equality, sex discrimination, women workers, labour market, employment, income, care work, social security, retirement, China, égalité des genres, discrimination fondée sur le sexe, travailleuses, marché du travail, emploi, revenu, prestations de soins, sécurité sociale, retraite, Chine, igualdad de géneros, discriminación por razones de sexo, trabajadoras, mercado de trabajo, empleo, ingreso, prestación de cuidados, seguridad social, jubilación, China |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:ilo:ilowps:994879663402676&r=cna |
| By: | Zhang, Ying.; Li, Xiangwei.; Zhang, Yutian. |
| Abstract: | A series of case studies has been launched to better understand how to efficiently link employment objectives to budget allocations and expenditures. This Working Paper is the first of the series. The experience of China is interesting for three main reasons: the employment strategy promotes an employment-friendly economic development model; since 2002; a system to finance employment policies has been efficiently functioning; and the 2008 Employment Promotion Law established an employment fund with linkages to the national and local budgets. Fascinating lessons emerge from this experience. |
| Keywords: | promotion of employment, public finance, employment policy, national plan, regional plan, China, promotion de l'emploi, finances publiques, politique de l'emploi, plan national, plan régional, Chine, fomento del empleo, hacienda pública, política de empleo, plan nacional, plan regional, China |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:ilo:ilowps:994875803402676&r=cna |
| By: | Jian-Xin Wu; Ling-Yun He |
| Abstract: | Urban-rural gap and regional inequality are long standing problems in China and result in considerable number of studies. This paper examines the dynamic behaviors of incomes for both urban and rural areas with a prefectural data set. The analysis is conducted by using a distribution dynamics approach, which have advantages in examination on persistence, polarization and convergence clubs. The results show that persistence and immobility are the dominant characteristics in the income distribution dynamics. The prefectural urban and rural areas converge into their own steady states differentiated in income levels. This pattern of urban-rural gap also exists in three regional groups, namely the eastern, central and western regions. Examination on the dynamics of the poorest areas shows that geographical poverty traps exist in both urban and rural prefectural areas. Our results indicate that more policy interventions are required to narrow down the urban-rural gap and to eliminate the poverty traps in China. |
| Date: | 2016–10 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1610.05171&r=cna |
| By: | Majid, Nomaan. |
| Abstract: | The aim of this paper is to make an assessment of the employment situation in China at an aggregate level that is (a) supported by existing macro data related to output and labour; and (b) that is consistent with the historical information on the policy shifts that have taken place in China. |
| Keywords: | employment, economic growth, productivity, labour force, structural change, dual economy, wages, China, emploi, croissance économique, productivité, main-d'oeuvre, changement structurel, dualisme économique, salaire, Chine, empleo, crecimiento económico, productividad, mano de obra, cambio estructural, dualismo económico, salario, China |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:ilo:ilowps:994892543402676&r=cna |
| By: | Hu, Jinyan (School of Economics, Shandong University); Jiang, Mingming (School of Economics, Shandong University); Zhang, Bo (School of Economics, Shandong University) |
| Abstract: | According to the 2011 Chinese Household Finance Survey, about 21.8% of Chinese households participate in the financial market; risky financial assets account for about 8% of total household financial assets. Limited participation and low risky asset holding appear as two features of Chinese household finance. This paper explores the effects of social network, as an important content of social capital, on household financial market participation and asset allocations in both the formal and informal financial markets. Our analysis shows that households with a broader social network admit a higher possibility of financial market participation and a higher fraction of risky asset holding. This finding is robust to various control variables and to the instrumental variable estimations. In addition, two working mechanisms are identi ed. On the one hand, social network directly helps households to obtain necessary information, reducing the required participation cost and raising the chance of financial market participation. On the other hand, social network functions as an informal institution that facilitates household risk-sharing and affects their risk attitude, hence indirectly changing household financial market decisions. |
| Keywords: | Social Network, Financial Market Participation, Asset Allocation |
| JEL: | D31 G11 Z13 |
| Date: | 2015–05–08 |
| URL: | http://d.repec.org/n?u=RePEc:xjt:rieiwp:2015-06&r=cna |
| By: | Dic Lo (Department of Economics, SOAS, University of London, UK) |
| Abstract: | Since the turn of the century, China’s influence on world development has increased enormously. This paper seeks to analyse major attributes of the influence of China’s “going out†, centring on the argument that the influence has been in the main conducive to the rest of the developing world. Specifically, this paper offers a critique of relevant, popular theses such as “China’s neoliberalization crowds out world development†, “China under-cuts the conditions of the world’s working class†, and “China exhibits a tendency towards imperialism†, etc. It is argued that, in the context of a neoliberal world economy that is increasingly speculation-oriented, China’s production-oriented activities can be seen as an important countervailing force. Whether this China influence is to continue to be conducive to world development in the future, or to turn to become detrimental, depends critically on the broader political-economic context. |
| Keywords: | China, trade, investment, world development |
| JEL: | F54 F60 O14 O50 |
| Date: | 2016–09 |
| URL: | http://d.repec.org/n?u=RePEc:soa:wpaper:198&r=cna |