Suchergebnisse

This study shows that China's post-1949 state-led industrialization has closely followed an underlying path that began in the late nineteenth century. It was initiated by pressing national defence needs and has since been motivated by the same and strong incentives for a faster catch-up with the West despite radical regime shifts. Government determined or influenced resource allocation benefited selected industries and hence nurtured vested interest groups connecting and integrating with the ruling elite, which have strengthened and sustained the path. This means that the path is inherently inefficient which is evidenced by a newly constructed dataset. Reform measures can only temporarily improve efficiency performance, but are unable to break the path in the absence of a genuine political democracy.

Der Verfasser gibt zunächst einen Überblick über die wichtigsten währungspolitischen Reformschritte in der VR China seit 1979. Er setzt sich im folgenden mit den im Zuge und als Ergebnis dieses Reformprozesses seit der Vereinheitlichung des Wechselkurses 1994 und dem Übergang zur partiellen Währungskonvertibilität 1996 aufgetretenen Problemen auf außenwirtschafts- und währungspolitischem Gebiet auseinander. Ein Schlüsselproblem in diesem Zusammenhang ist die Überbewertung der chinesischen Währung im Verhältnis zu den Währungen der wichtigsten wirtschaftlichen Konkurrenten, die die Wettbewerbsfähigkeit chinesischer Produkte und die Attraktivität Chinas für ausländische Direktinvestitionen beeinträchtigt. Hier spielt auch die 1997 ausgebrochene Wirtschaftskrise im südostasiatischen Raum eine Rolle, vor der China sich aufgrund der eingeschränkten Konvertibilität seiner Währung zunächst abschirmen konnte. (BIOst-Wpt)

The article has two aims. First, it develope a new method, using available aggregate data, to estimate the "real" size of Chinese urban population over the period 1949-90, and then derives urban net migration during the same period. Secondly, with these estimates, it analyses the patterns of China's urbanization and migration in the process of industrialization in both pre-reform and post-reform periods. (DÜI-Sen)

AbstractRecent studies confirm that financial support for innovative entrepreneurial firms is important for sustainable productivity growth in China and for a rebalanced global economy.

Expectations and beliefs are important forces that can influence financial markets. Using results from a survey, this article examines the beliefs of currency traders in Hong Kong's financial institutions regarding the RMB and HK$/US$ pegs. In particular, it examines the attitudes of these currency traders towards the intervention by the Hong Kong Monetary Authority (HKMA) in Hong Kong's stock and futures markets to defend the HK$/US$ peg during the Asian crisis in 1998. Contrary to expectation, not all currency traders in Hong Kong were diehard devotees of the free market and more were in support of the intervention than against. Degree of identification with Hong Kong was found to be important, influencing attitudes towards government intervention. An inference from the survey is that the intervention was popular with Hong Kong residents and that future intervention by the HKMA is likely if faced with similar speculative attacks on the HK$.

How and why did the rural enterprise sector get so big in China? This book has the answers. That sector is owned and operated by rural communities. The book explains why these enterprises have been growing so fast, and it explores the implications of their growth.