Suchergebnisse

Why has China developed a huge automotive market without building up autonomous technological capability? While comparing China with South Korea's experience, we argue that this phenomenon has to be understood in the context of a misleading and ineffective policy regime and a fragmented political structure, which in turn are associated with a disincentive market environment (sizable but unsophisticated demand) and China's ongoing systemic restructuring that has so far been oriented toward management fragmentation. Keywords: China versus Korea; automotive industry; technological capability

We examine how economic dynamism, along with the cultural orientation of individualism vs. collectivism shape the multilayered relationships between perceptual variables—self efficacy, attitude, social capital and perceived opportunities—and entrepreneurial intentions (EI). For the first time, we introduce economic dynamism as a national context variable for EI. We also join a group of entrepreneurship scholars to apply a multilayered approach to account for the multiple interactions among individual and contextual variables. We test our hypotheses using country-level aggregates of GEM data. For comparison purposes, we consider four nations differentiated along the dimensions of economic dynamism and the cultural trait of individualism vs. collectivism, namely, China, Italy, Japan and the United States. The results show that self-efficacy predicts EI across all four nations; the interactive effects between perceived opportunities and attitude and between social capital and attitude are contingent upon national contexts in terms of economic dynamism and individualism vs. collectivism. Although economic development long has been a popular contextual variable in the study of EI, there remains a lack of empirical support. One reason is economic development assumes a stable state, when in fact changes in an economy may be more critical in impacting entrepreneurial intentions. In the current study, we replace economic development with that of economic dynamism. Future research needs to refine the construct and develop a measure of it.

This paper considers the prospects and promises of continent‐wide infrastructure projects under China's Belt and Road Initiative (BRI), and its implications for intra‐regional trade and economic development in Africa. Building on the supply side theory of trade and economic development, and taking cognizance of the impacts of asymmetric market sizes on trade integration, this paper argues that continent‐wide infrastructure projects are perhaps not the biggest constraints to intra‐Africa trade. Consequently, the paper recommends caution in pursuing regional infrastructure projects under the BRI. Given that the economies of most African countries depend largely on natural resources, the BRI could be adopted strategically to establish and manage infrastructure projects that would relax the binding constraints to structural transformation and allow for the development of manufacturing and/or service capabilities in the respective countries, especially in niche areas.

Recent research on returning Chinese students has focused on their role as an alternativesolution to their home country's mandate to build technological capacity. This study showsthe depth of the 'brain circulation' that is underway and the fact that overseas students arenot only serving China from abroad or by returning, but after they return they play a leadingrole in many aspects of China's 'going out' strategy. These returnee entrepreneurs presentmany advantages to the Chinese economy. They have studied at the best universities in theworld, were deeply involved in the New Economy, and have gained valuable experience inlisted companies overseas. They often possess venture capital, many have experience workingwith some of the best MNCs in the world, and they serve to contribute enormously to China'scurrent economic engagement with the world. The paper describes the returnees' impact onChina's globalization drive and analyzes the factors leading to their success in comparison toMNCs and indigenous Chinese firms. (J Contemp China/GIGA)

Chinese companies have recently started listing ADRs in North American stock exchanges and thus offered an alternative venue for Western investors whose access to the Chinese market has largely been limited to the illiquid B shares. Are ADRs a good substitute for investing in Chinese B Shares? We examine characteristics of return distributions for indices of Chinese shares and an index of Chinese ADRs. We also compare efficient frontiers for portfolios including Chinese shares and Chinese ADRs and compute possible portfolio allocations. We find that investing in Chinese ADRs does not provide a risk/return tradeoff similar to direct investment in Chinese stock exchanges.