By Chunlai Chen
This complete assortment presents a striking wealth of data and a well timed evaluate of China's fiscal improvement and integration with the worldwide economic system after WTO accession. Chunlai Chen brings jointly a exclusive team of students who hire fiscal theories, econometric modelling recommendations and the most recent information to investigate many vital matters. those hotly debated subject matters comprise China's financial development, foreign alternate, nearby exchange preparations, international direct funding, banking zone liberalization, alternate fee reform, agricultural exchange and effort call for. aimed toward a global viewers, this hugely centred publication may be of significant gain to lecturers and postgraduate scholars all for chinese language economic climate and enterprise reviews, in addition to researchers in foreign exchange and international funding.
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Additional info for China's Integration With the Global Economy: WTO Accession, Foreign Direct Investment and International Trade (Advances in Chinese Economic Studies)
2 per cent, which is close to the rates used by Hu and Khan (1997) and the World Bank (1997) and the mean estimated by Wu (2008). 10 The third task deals with the estimation of the initial value of capital stock. 6), is employed here. 2). The estimation results are discussed in the following sections. 11 Among the 31 Chinese regions, in terms of the value of capital stock, Jiangsu, Shandong, Zhejiang and Shanghai were in turn the top four regions in 2006 though Guangdong had the largest share in 1978 and 1990.
While Chow (1993) provided detailed information and conducted sensitivity analysis, Li et al. (1995) and Maddison (1998) did not elaborate how they estimated the initial value, to cite a few. 4 In general, the existing literature has used four categories of techniques in estimating the initial value of capital stock (Wu, 2008). They are here called the backcasting, the integral, the growth rate and other approaches, respectively. 2) are backcasted to the year 1900 using data available and thus the time-series sample has more than 100 observations.
Similar to export, China has increased the import of electrical and high-tech goods after WTO accession. Though the growth rate was not very high and there were fluctuations, the trend was evidently upward. SOURCES OF CHINA’S TRADE BOOM The remarkable performance of China’s foreign trade in recent years is attributed to many factors. Among them the following factors are the most important. First, China has the most abundant labour supply in the world. According to neoclassic theory of international trade, China will specialize in labour-intensive activities and export labour-intensive products.