Pub Date : 2021-08-18DOI: 10.1080/14765284.2021.1968709
A. Zakari, Irfan Khan
ABSTRACT In 2019, Chinese investment rose to $110 billion across all sectors in Africa. However, there are many criticisms that the Chinese presence is a curse to the development of Africa. Hence, we direct our attention to unravel the truth about these allegations by examining the underlying effect of institutional quality and Chinese investment in Africa on energy consumption (EC) and its impact on economic growth. We applied a panel corrected standard error (PCSE) econometric procedure for a selected 21 sub-Saharan African countries. Our results show that energy consumption promotes economic growth. Similarly, the study revealed that the institutional quality and Chinese investment in Africa were the underlying factors for the positive effect of energy consumption and economic growth. Therefore, our results expand the economic growth literature and inform policymakers of the need to pay attention to bilateral trade and investment with China.
{"title":"Boosting economic growth through energy in Africa: the role of Chinese investment and institutional quality","authors":"A. Zakari, Irfan Khan","doi":"10.1080/14765284.2021.1968709","DOIUrl":"https://doi.org/10.1080/14765284.2021.1968709","url":null,"abstract":"ABSTRACT In 2019, Chinese investment rose to $110 billion across all sectors in Africa. However, there are many criticisms that the Chinese presence is a curse to the development of Africa. Hence, we direct our attention to unravel the truth about these allegations by examining the underlying effect of institutional quality and Chinese investment in Africa on energy consumption (EC) and its impact on economic growth. We applied a panel corrected standard error (PCSE) econometric procedure for a selected 21 sub-Saharan African countries. Our results show that energy consumption promotes economic growth. Similarly, the study revealed that the institutional quality and Chinese investment in Africa were the underlying factors for the positive effect of energy consumption and economic growth. Therefore, our results expand the economic growth literature and inform policymakers of the need to pay attention to bilateral trade and investment with China.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"20 1","pages":"1 - 21"},"PeriodicalIF":2.0,"publicationDate":"2021-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42475254","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-07-20DOI: 10.1080/14765284.2021.1953352
V. Balasubramanyam
The title of the book says it all. It is about the rebirth and growth of Asia towards the position of equivalence in the world economy, it once held in the historic past, but dwindled to insignificance by the middle of the twentieth century. In the year 1500, Asia accounted for 62% of both world income and population. But by the year 1820, though it had restored its share of population to 65%, its share in world income had declined to 56.5%, with India and China together accounting for almost 46% of the total. The decline in Asia’s share of world GDP continued unabated and reached a low of 14.9% by the year 1962 with a significant contribution by China and India to this decline. It is the revival of Asia from this state of the doldrums to one of the dramatic growth and development from 1970s onwards, which is aptly referred to by Deepak Nayyar as a resurgence of the Asian economies. The growth and development experience of each of the Asian countries discussed in the book differs significantly from that of the others as the subtitle of Nayyar’s book suggests. Deepak Nayyar has many strings to his bow: an eminent economist, a prolific writer, an administrator in academia and government, and an advisor to international institutions. His wide range of expertise and knowledge of economic development is reflected in his discussion of the decline and rise of Asia that collates many sides to the story. The analysis in the book is unique. It is grounded in economic theory and history and is not confined to a chronological narration of events or regression analysis-oriented conclusions. It complements other incisive reviews of the recent growth and development experience of the two large Asian economies; China – edited and authored by David, Chris, and Shujie (2010) and India = edited and authored by Rakesh (2018). This review discusses the main issues in Nayyar’s wide-ranging analysis of the growth and development of 14 major Asian economies.
{"title":"Resurgent Asia; diversity in development","authors":"V. Balasubramanyam","doi":"10.1080/14765284.2021.1953352","DOIUrl":"https://doi.org/10.1080/14765284.2021.1953352","url":null,"abstract":"The title of the book says it all. It is about the rebirth and growth of Asia towards the position of equivalence in the world economy, it once held in the historic past, but dwindled to insignificance by the middle of the twentieth century. In the year 1500, Asia accounted for 62% of both world income and population. But by the year 1820, though it had restored its share of population to 65%, its share in world income had declined to 56.5%, with India and China together accounting for almost 46% of the total. The decline in Asia’s share of world GDP continued unabated and reached a low of 14.9% by the year 1962 with a significant contribution by China and India to this decline. It is the revival of Asia from this state of the doldrums to one of the dramatic growth and development from 1970s onwards, which is aptly referred to by Deepak Nayyar as a resurgence of the Asian economies. The growth and development experience of each of the Asian countries discussed in the book differs significantly from that of the others as the subtitle of Nayyar’s book suggests. Deepak Nayyar has many strings to his bow: an eminent economist, a prolific writer, an administrator in academia and government, and an advisor to international institutions. His wide range of expertise and knowledge of economic development is reflected in his discussion of the decline and rise of Asia that collates many sides to the story. The analysis in the book is unique. It is grounded in economic theory and history and is not confined to a chronological narration of events or regression analysis-oriented conclusions. It complements other incisive reviews of the recent growth and development experience of the two large Asian economies; China – edited and authored by David, Chris, and Shujie (2010) and India = edited and authored by Rakesh (2018). This review discusses the main issues in Nayyar’s wide-ranging analysis of the growth and development of 14 major Asian economies.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"20 1","pages":"461 - 468"},"PeriodicalIF":2.0,"publicationDate":"2021-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14765284.2021.1953352","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42366755","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-07-05DOI: 10.1080/14765284.2021.1948320
Conghua Wen, Zixi Yang, Ruichun Jiang
ABSTRACT The study intends to conduct a systematic mechanism for herding detection in the Hong Kong stock market. We take stocks from three market sectors as samples and investigate the existence of herding in the two periods: before and during the outbreak of COVID-19 in Hong Kong, from August 2019 to July 2020. We adopt CCK model-based OLS and quantile regression to examine herding in each observed period and employ HS model to measure the magnitude of herding during the time. The empirical results indicate the emergence of mild herding from August 2019 to January 2020, and the herding phenomenon is generally weakened between February and July 2020. Our study confirms the implication of the systematic herding detection mechanism that can improve the sensitivity of detection and capture the magnitude and variation of herding.
{"title":"Herding behavior in Hong Kong stock market during the COVID-19 period: a systematic detection approach","authors":"Conghua Wen, Zixi Yang, Ruichun Jiang","doi":"10.1080/14765284.2021.1948320","DOIUrl":"https://doi.org/10.1080/14765284.2021.1948320","url":null,"abstract":"ABSTRACT The study intends to conduct a systematic mechanism for herding detection in the Hong Kong stock market. We take stocks from three market sectors as samples and investigate the existence of herding in the two periods: before and during the outbreak of COVID-19 in Hong Kong, from August 2019 to July 2020. We adopt CCK model-based OLS and quantile regression to examine herding in each observed period and employ HS model to measure the magnitude of herding during the time. The empirical results indicate the emergence of mild herding from August 2019 to January 2020, and the herding phenomenon is generally weakened between February and July 2020. Our study confirms the implication of the systematic herding detection mechanism that can improve the sensitivity of detection and capture the magnitude and variation of herding.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"20 1","pages":"159 - 170"},"PeriodicalIF":2.0,"publicationDate":"2021-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14765284.2021.1948320","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48485709","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-07-03DOI: 10.1080/14765284.2021.1960138
K. Fung
ABSTRACT In this Introduction to the Special IIssue on Global trading system with the New American Administration: China, United States and Europe, three excellent papers are presented. The first paper highlights the central and eastern European countries’ views on their relationships with China in the era of the pandemic. The second paper by Gao and Shaffer (forthcoming) presents a detailed legal discussion on the global value chains, including new development in intellectual property rights laws in China. The third paper by Wen (forthcoming) proposes that China should continue to participate in the global trading system and further reduce unnecessary government interventions in trade, investment and innovation. Finally, the Introduction highlights various important papers published by this Journal that are relevant to the theme. For example, Fung, Aminian, Fu and Tung (2018) and Fung, Amininian, Fu, Rhee and Tung (2020) are the first to introduce a formal, analytical digital firm model in the discussions of U.S.-China relations. Other outstanding papers include Lau (2019a), Cheng, hitten and Hua (2019), Garcia Herrero (2019) and Lin and Wang (forthcoming), all published in this Journal.
{"title":"Introduction to special section on global trading system with the New American administration: China, United States and Europe","authors":"K. Fung","doi":"10.1080/14765284.2021.1960138","DOIUrl":"https://doi.org/10.1080/14765284.2021.1960138","url":null,"abstract":"ABSTRACT In this Introduction to the Special IIssue on Global trading system with the New American Administration: China, United States and Europe, three excellent papers are presented. The first paper highlights the central and eastern European countries’ views on their relationships with China in the era of the pandemic. The second paper by Gao and Shaffer (forthcoming) presents a detailed legal discussion on the global value chains, including new development in intellectual property rights laws in China. The third paper by Wen (forthcoming) proposes that China should continue to participate in the global trading system and further reduce unnecessary government interventions in trade, investment and innovation. Finally, the Introduction highlights various important papers published by this Journal that are relevant to the theme. For example, Fung, Aminian, Fu and Tung (2018) and Fung, Amininian, Fu, Rhee and Tung (2020) are the first to introduce a formal, analytical digital firm model in the discussions of U.S.-China relations. Other outstanding papers include Lau (2019a), Cheng, hitten and Hua (2019), Garcia Herrero (2019) and Lin and Wang (forthcoming), all published in this Journal.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"19 1","pages":"173 - 179"},"PeriodicalIF":2.0,"publicationDate":"2021-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42741914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-07-01DOI: 10.1080/14765284.2021.1943194
H. Tugendhat
ABSTRACT Huawei has built several training centres across Africa. This study establishes the purpose of these centres in Kenya and Nigeria and presents original data on their success based on their objectives. Fieldwork was conducted in 2018 and follow-up interviews continued by phone until 2021. I find that Huawe’s investments offer no significant opportunities for knowledge transfers that could foster technological or industrial upgrading in Kenya or Nigeria’s telecommunications sectors. In part, this is due to domestic obstacles in the host countries. But, like other international equipment vendors operating in the region, knowledge transfers are also hindered by the limited scope of Huawei’s investments and the boundaries on the knowledge it is willing to share with domestic employees. I conclude that Kenya and Nigeria’s governments may underestimate the leverage they have over international equipment vendors to induce more meaningful opportunities for knowledge transfer.
{"title":"Connection issues: a study on the limitations of knowledge transfer in Huawei’s African training centres","authors":"H. Tugendhat","doi":"10.1080/14765284.2021.1943194","DOIUrl":"https://doi.org/10.1080/14765284.2021.1943194","url":null,"abstract":"ABSTRACT Huawei has built several training centres across Africa. This study establishes the purpose of these centres in Kenya and Nigeria and presents original data on their success based on their objectives. Fieldwork was conducted in 2018 and follow-up interviews continued by phone until 2021. I find that Huawe’s investments offer no significant opportunities for knowledge transfers that could foster technological or industrial upgrading in Kenya or Nigeria’s telecommunications sectors. In part, this is due to domestic obstacles in the host countries. But, like other international equipment vendors operating in the region, knowledge transfers are also hindered by the limited scope of Huawei’s investments and the boundaries on the knowledge it is willing to share with domestic employees. I conclude that Kenya and Nigeria’s governments may underestimate the leverage they have over international equipment vendors to induce more meaningful opportunities for knowledge transfer.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"19 1","pages":"359 - 385"},"PeriodicalIF":2.0,"publicationDate":"2021-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14765284.2021.1943194","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45084641","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-23DOI: 10.1080/14765284.2021.1943184
Yunnan Chen
ABSTRACT Nigeria has been one of the primary destinations for Chinese foreign direct investment (FDI) in Africa, with emerging clusters in manufacturing sectors. FDI holds potential for technology transfer processes that can foster wider industrialization and structural transformation, but this depends on the development of local linkages that can foster positive spillovers. Through fieldwork and structured survey methods, this paper examines drivers of Chinese outward investment in Nigeria, particularly from 2014 to 2017, highlighting linkages and mechanisms of technology transfer that may catalyze transformation processes and taking a critical view of their potential. I find that, while cases of technology and skills transfer exist, investing firms face challenges of poor infrastructure, lack of skills, and low social trust, which hinder the development of linkages and industrial supply chains. In the wake of the 2014 economic recession, firms cited political and exchange rate instability as challenging; however, greater localization and building local linkages make firms better prepared to weather such challenges.
{"title":"‘Africa’s China’: Chinese manufacturing investment in Nigeria and channels for technology transfer","authors":"Yunnan Chen","doi":"10.1080/14765284.2021.1943184","DOIUrl":"https://doi.org/10.1080/14765284.2021.1943184","url":null,"abstract":"ABSTRACT Nigeria has been one of the primary destinations for Chinese foreign direct investment (FDI) in Africa, with emerging clusters in manufacturing sectors. FDI holds potential for technology transfer processes that can foster wider industrialization and structural transformation, but this depends on the development of local linkages that can foster positive spillovers. Through fieldwork and structured survey methods, this paper examines drivers of Chinese outward investment in Nigeria, particularly from 2014 to 2017, highlighting linkages and mechanisms of technology transfer that may catalyze transformation processes and taking a critical view of their potential. I find that, while cases of technology and skills transfer exist, investing firms face challenges of poor infrastructure, lack of skills, and low social trust, which hinder the development of linkages and industrial supply chains. In the wake of the 2014 economic recession, firms cited political and exchange rate instability as challenging; however, greater localization and building local linkages make firms better prepared to weather such challenges.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"19 1","pages":"335 - 358"},"PeriodicalIF":2.0,"publicationDate":"2021-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14765284.2021.1943184","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44288335","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-22DOI: 10.1080/14765284.2021.1943193
Hazwan Haini
ABSTRACT This study examines the nonlinear impact of banking sector development on economic growth in China’s provinces from 1990 to 2017 using dynamic panel estimators. China has experienced rapid economic growth since its reforms; however, China has a repressed financial system as its banking sector reforms have lagged behind other reforms. Meanwhile, the finance-growth literature traditionally posits a positive relationship between the two. Consequently, China presents an interesting case study on the relationship between banking sector development and economic growth. This study investigates whether the relationship is nonlinear, and identifies whether a threshold level exists, where the impact of the banking sector becomes insignificant or negative. The results show that the relationship between banking sector development and growth is nonlinear, suggesting that there is an optimal level. Furthermore, the results show that high levels of banking sector development crowd out the positive impact of private investment. Policy implications are discussed.
{"title":"Examining the nonlinear impact of the banking sector on economic growth: evidence from China’s Provinces","authors":"Hazwan Haini","doi":"10.1080/14765284.2021.1943193","DOIUrl":"https://doi.org/10.1080/14765284.2021.1943193","url":null,"abstract":"ABSTRACT This study examines the nonlinear impact of banking sector development on economic growth in China’s provinces from 1990 to 2017 using dynamic panel estimators. China has experienced rapid economic growth since its reforms; however, China has a repressed financial system as its banking sector reforms have lagged behind other reforms. Meanwhile, the finance-growth literature traditionally posits a positive relationship between the two. Consequently, China presents an interesting case study on the relationship between banking sector development and economic growth. This study investigates whether the relationship is nonlinear, and identifies whether a threshold level exists, where the impact of the banking sector becomes insignificant or negative. The results show that the relationship between banking sector development and growth is nonlinear, suggesting that there is an optimal level. Furthermore, the results show that high levels of banking sector development crowd out the positive impact of private investment. Policy implications are discussed.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"20 1","pages":"397 - 414"},"PeriodicalIF":2.0,"publicationDate":"2021-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14765284.2021.1943193","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46051336","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-15DOI: 10.1080/14765284.2021.1940452
David Landry, Yunnan Chen
ABSTRACT Madagascar’s geographic location, large long-established Chinese diaspora, low labor costs, and abundant arable land and natural resources have made it an attractive destination for Chinese outward investment over the past two decades, as rising wages in China and domestic competition drove firms to ‘go out.’ Chinese investors have been particularly active in the Malagasy agricultural, manufacturing, and mining sectors. China generated its own economic boom with the help of foreign investment, which raised the question whether Chinese investors could play a similar role – through the fostering of skills and technology upgrading – in other low-income countries. Focusing on agriculture and manufacturing, this paper uncovers some evidence of limited skills and technology transfers occurring through Chinese firms operating in Madagascar. However, Chinese investment in Madagascar remains limited in scope and has been challenged by a problematic policy environment.
{"title":"Can Chinese investment lead to knowledge and technology transfers? The case of Madagascar","authors":"David Landry, Yunnan Chen","doi":"10.1080/14765284.2021.1940452","DOIUrl":"https://doi.org/10.1080/14765284.2021.1940452","url":null,"abstract":"ABSTRACT Madagascar’s geographic location, large long-established Chinese diaspora, low labor costs, and abundant arable land and natural resources have made it an attractive destination for Chinese outward investment over the past two decades, as rising wages in China and domestic competition drove firms to ‘go out.’ Chinese investors have been particularly active in the Malagasy agricultural, manufacturing, and mining sectors. China generated its own economic boom with the help of foreign investment, which raised the question whether Chinese investors could play a similar role – through the fostering of skills and technology upgrading – in other low-income countries. Focusing on agriculture and manufacturing, this paper uncovers some evidence of limited skills and technology transfers occurring through Chinese firms operating in Madagascar. However, Chinese investment in Madagascar remains limited in scope and has been challenged by a problematic policy environment.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"19 1","pages":"315 - 334"},"PeriodicalIF":2.0,"publicationDate":"2021-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14765284.2021.1940452","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43791751","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-15DOI: 10.1080/14765284.2021.1940453
Xi Chen, Annie Fan
ABSTRACT The Coronavirus Disease 2019 (COVID-19) pandemic is bringing about once-in-a-century changes to human society. Three key properties escalate the COVID-19 pandemic into a syndemic. To address this triple crisis, we discuss the importance of integrating early, targeted and coordinated public health measures with more equitable social policy and with a health-care policy that realigns incentives of the major players in the health-care market. Drawing on evidence from past and present epidemics as well as comparing variations in response to the current health emergency between China, the US and beyond, we navigate long-awaited health policy transformation in areas that help us better prepare for the next pandemic.
{"title":"The COVID-19 pandemic and the transformation of health policy: a syndemic perspective","authors":"Xi Chen, Annie Fan","doi":"10.1080/14765284.2021.1940453","DOIUrl":"https://doi.org/10.1080/14765284.2021.1940453","url":null,"abstract":"ABSTRACT The Coronavirus Disease 2019 (COVID-19) pandemic is bringing about once-in-a-century changes to human society. Three key properties escalate the COVID-19 pandemic into a syndemic. To address this triple crisis, we discuss the importance of integrating early, targeted and coordinated public health measures with more equitable social policy and with a health-care policy that realigns incentives of the major players in the health-care market. Drawing on evidence from past and present epidemics as well as comparing variations in response to the current health emergency between China, the US and beyond, we navigate long-awaited health policy transformation in areas that help us better prepare for the next pandemic.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"19 1","pages":"239 - 255"},"PeriodicalIF":2.0,"publicationDate":"2021-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14765284.2021.1940453","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41702202","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-04DOI: 10.1080/14765284.2021.1929793
L. Yifu, Xiaobing Wang
ABSTRACT This paper provides a detailed account of China’s Dual Circulation Development Paradigm and examines its theoretical foundation from the perspective of the New Structural Economics approach. The purpose of this Paradigm is to shift the focus from foreign to domestic circulation as the major driving force for China’s sustainable development, and to emphasize the importance of a positive reciprocal relationship between domestic and international economic circulations. This paper argues that aim of the Paradigm is to facilitate a qualitative leap in industrial upgrading to achieve both a higher-quality domestic circulation and a higher-level of international circulation. By explaining the development thinking from the Chinese policy-makers’ perspective, this paper also casts light on growth and development issues facing other countries.
{"title":"Dual Circulation: a New Structural Economics view of development","authors":"L. Yifu, Xiaobing Wang","doi":"10.1080/14765284.2021.1929793","DOIUrl":"https://doi.org/10.1080/14765284.2021.1929793","url":null,"abstract":"ABSTRACT This paper provides a detailed account of China’s Dual Circulation Development Paradigm and examines its theoretical foundation from the perspective of the New Structural Economics approach. The purpose of this Paradigm is to shift the focus from foreign to domestic circulation as the major driving force for China’s sustainable development, and to emphasize the importance of a positive reciprocal relationship between domestic and international economic circulations. This paper argues that aim of the Paradigm is to facilitate a qualitative leap in industrial upgrading to achieve both a higher-quality domestic circulation and a higher-level of international circulation. By explaining the development thinking from the Chinese policy-makers’ perspective, this paper also casts light on growth and development issues facing other countries.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"20 1","pages":"303 - 322"},"PeriodicalIF":2.0,"publicationDate":"2021-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/14765284.2021.1929793","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43092667","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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