A considerable body of economic literature shows the adverse economic impacts of oil-price shocks for the developed economies. However, there has been a lack of empirical study of this kind on China and other developing countries. This paper attempts to fill this gap by answering how and to what extent oil-price shocks impact China’s economy, emphasizing on the price transmission mechanisms. To...

This paper examines the political influence on government bank lending decisions using the prefecture level panel data on Japan’s government loans from 1975 to 1992. I find that prefectures that were represented by more influential members of the ruling party, the Liberal Democratic Party (LDP), tended to receive more government loans. I also find that the amount of government loans tended to i...

This article examines the involvement pattern in global value chains (GVCs) with its policy implication in Vietnam, in comparison with those of the other Asian countries, by using the OECD value-added-trade data. The study first identified the “smile curve” as the average pattern of the Asian GVCs development paths in total manufactures, in which the domestic value share to exports declines at ...

The issue of the interaction between trade and labor mobility has become a major topic in the context of economic integration and trade liberalization. The main purpose of this study is to investigate the issue of international labor mobility from the standpoint of new developments in trade theory, by asking the following question: does trade liberalization result in the substitution or complem...

Bayesian model averaging (BMA) has become widely accepted as a way of accounting for model uncertainty, notably in regression models for identifying the determinants of economic growth. To implement BMA the user must specify a prior distribution in two parts: a prior for the regression parameters and a prior over the model space. Here we address the issue of which default prior to use for BMA i...

Significant economic disparities among China’s Eastern, Central, and Western regions pose unequivocal challenges to social equality and political stability in the country. A major impediment to economic development, especially in the poor, remote Western region, is the shortage of transportation infrastructure. The Chinese government has committed to substantial investment for improving the acc...

This study investigates spatial dependence and mechanisms of regional development in Greater Beijing, China by employing spatial statistical techniques. We have detected positive, strengthening global spatial autocorrelation from 1978 to 2001, and found such strengthening is the result of newly formed/extended clusters in the area. The local analysis recognizes local regimes of two-tier urban-r...

This paper investigates the relationship between firm heterogeneity and a firm’s decision to export, using the annual survey of Thai manufacturing firms from 2001 to 2004. A significant contribution of this paper is that we are, for the first time, able to break down FDI by country of origin to observe whether the behavior of MNEs differs by region of origin. We find that entry sunk costs and f...

The rise of China as an economic powerhouse has caused concerns in its neighbors. Prevailing in the region is the fear that China is becoming a gigantic ‘‘regional factory’’ that will ‘‘hollow out’’ neighboring economies’ industries. In this paper, we emphasize the economic benefits that a rising Chinese economy can bring into the region. A discussion on the country’s growth strategy suggests t...

Article history: Received 14 January 2015 Received in revised form 17 August 2015 Accepted 17 August 2015 Available online 1 September 2015 This paper estimates income polarization in China from 1978 to 2010 and decomposes the estimated polarization by population subgroups. In addition, a framework is proposed to disentangle a change in polarization into a growth and a redistribution component....