Andrew Chiah Howe Fan, Yuen Yoong Leong, Wing Thye Woo
Two activities in Malaysia that emit large amounts of CO2 are electricity generation, and iron and steel production. To decarbonize the former, Malaysia should invest in a flexible energy system to overcome the intermittent characteristic of solar energy by influencing the pattern of demand with peak load pricing, increasing energy storage capability, and entering into a regional electricity grid arrangement. Malaysia should respond to the recent large capacity expansion in iron and steel production with blast furnace-basic oxygen furnace (BF-BOF) technology by ending immediately the issuance of new licenses for facilities that use this BF-BOF technology, and speed up the process of adopting of advanced green, near-zero emission technologies (e.g., Hydrogen Breakthrough Ironmaking Technology [HYBRIT]), by applying for foreign technical assistance (e.g., the United Nations Climate Technology Centre and Networks [UN-CTCN]) and for concessionary climate finance under the Paris Agreement. Finally, to be consistent with the 1.5°C pathway for the world, Malaysia should aim commit to achieve peak carbon emission by 2030 and net zero emission by 2050.
{"title":"The Options in Decarbonization Pathways for Malaysia","authors":"Andrew Chiah Howe Fan, Yuen Yoong Leong, Wing Thye Woo","doi":"10.1162/asep_a_00874","DOIUrl":"https://doi.org/10.1162/asep_a_00874","url":null,"abstract":"Two activities in Malaysia that emit large amounts of CO2 are electricity generation, and iron and steel production. To decarbonize the former, Malaysia should invest in a flexible energy system to overcome the intermittent characteristic of solar energy by influencing the pattern of demand with peak load pricing, increasing energy storage capability, and entering into a regional electricity grid arrangement. Malaysia should respond to the recent large capacity expansion in iron and steel production with blast furnace-basic oxygen furnace (BF-BOF) technology by ending immediately the issuance of new licenses for facilities that use this BF-BOF technology, and speed up the process of adopting of advanced green, near-zero emission technologies (e.g., Hydrogen Breakthrough Ironmaking Technology [HYBRIT]), by applying for foreign technical assistance (e.g., the United Nations Climate Technology Centre and Networks [UN-CTCN]) and for concessionary climate finance under the Paris Agreement. Finally, to be consistent with the 1.5°C pathway for the world, Malaysia should aim commit to achieve peak carbon emission by 2030 and net zero emission by 2050.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136078862","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Long-term shifts in temperatures and weather patterns result in global climate change. Human activities that burn fossil fuels such as coal, oil, and natural gas have been identified as the main driver of climate change. The extreme weather events of climate change, especially floods and droughts, have already caused severe economic impacts. These impacts will continue to intensify unless transformative and holistic adaptations are put in place. The Paris Agreement under the United Nations Framework Convention on Climate Change (UNFCCC) aims at keeping a global temperature rise this century well below 2° Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5° Celsius. To achieve the targets, balancing between anthropogenic greenhouse gas (GHG) sources and sinks needs strong efforts and long-term low emissions development strategies of the participating countries. Thailand's long-term low GHG emissions development strategy (LT-LEDS) submitted to UNFCCC in 2022 included national adaptation and economy-wide GHG mitigation in the energy, industrial processes and product use, waste, agriculture and land use, land-use change and forestry sectors, and international supports needed to meet the net zero emissions targets. Thus, this paper reviews several low-carbon development strategies in Thailand to meet the targets of carbon neutrality and net zero emissions. The impacts of LT-LEDS include GHG emissions reduction and the macroeconomic impacts. Results of several low-carbon development strategies in Thailand show that achieving the nationwide carbon neutrality and net zero GHG emissions is possible; but all feasible options and measures need to be implemented immediately.
{"title":"Reviews of Low Carbon Scenarios, Carbon Neutrality, and Net Zero Emissions in Thailand: Impacts on Greenhouse Gas Emissions and the Macroeconomy","authors":"Kannika Thampanishvong, Bundit Limmeechokchai","doi":"10.1162/asep_a_00869","DOIUrl":"https://doi.org/10.1162/asep_a_00869","url":null,"abstract":"Abstract Long-term shifts in temperatures and weather patterns result in global climate change. Human activities that burn fossil fuels such as coal, oil, and natural gas have been identified as the main driver of climate change. The extreme weather events of climate change, especially floods and droughts, have already caused severe economic impacts. These impacts will continue to intensify unless transformative and holistic adaptations are put in place. The Paris Agreement under the United Nations Framework Convention on Climate Change (UNFCCC) aims at keeping a global temperature rise this century well below 2° Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5° Celsius. To achieve the targets, balancing between anthropogenic greenhouse gas (GHG) sources and sinks needs strong efforts and long-term low emissions development strategies of the participating countries. Thailand's long-term low GHG emissions development strategy (LT-LEDS) submitted to UNFCCC in 2022 included national adaptation and economy-wide GHG mitigation in the energy, industrial processes and product use, waste, agriculture and land use, land-use change and forestry sectors, and international supports needed to meet the net zero emissions targets. Thus, this paper reviews several low-carbon development strategies in Thailand to meet the targets of carbon neutrality and net zero emissions. The impacts of LT-LEDS include GHG emissions reduction and the macroeconomic impacts. Results of several low-carbon development strategies in Thailand show that achieving the nationwide carbon neutrality and net zero GHG emissions is possible; but all feasible options and measures need to be implemented immediately.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136078857","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract This paper investigates the trade restrictiveness of product-specific rules of origin (PSRs) in the comprehensive sets of free trade agreements (FTAs) for Japan and the United States, focusing on their similarities and dissimilarities. The most distinctive dissimilarities are the major PSR types and their variation among FTAs. Japan's FTAs use the selective type (“change in tariff classification [CTC] or regional value content [RVC]”) most intensively. In contrast, a few U.S. FTAs use RVC and others use CTC most intensively, and the distribution of simplified PSR types appears to be almost the same among FTAs in each group. The detailed PSR types, however, are likely to be more heterogeneous and complicated in U.S. FTAs than in Japan's FTAs. Such dissimilar features are more salient in machinery sectors with dense global value chains (GVCs)/international production networks (IPNs). The quantitative estimates suggest that the selective types utilized by Japan for most machinery products are much less trade-restrictive, while certain complicated types adopted by the United States for many machinery products are substantially trade-restrictive. Our detailed investigation revealed the two countries’ contrasting strategies, namely, Japan appears to aggressively utilize FTAs with less restrictive PSRs to enhance GVCs/IPNs, while the United States tends to make PSRs more restrictive and complicated in detail as a sort of disguised protection tool.
{"title":"Dissimilar FTA Strategies of Japan and the United States: An Analysis of the Product-Specific Rules of Origin","authors":"Mitsuyo Ando, Shujiro Urata, Kenta Yamanouchi","doi":"10.1162/asep_a_00872","DOIUrl":"https://doi.org/10.1162/asep_a_00872","url":null,"abstract":"Abstract This paper investigates the trade restrictiveness of product-specific rules of origin (PSRs) in the comprehensive sets of free trade agreements (FTAs) for Japan and the United States, focusing on their similarities and dissimilarities. The most distinctive dissimilarities are the major PSR types and their variation among FTAs. Japan's FTAs use the selective type (“change in tariff classification [CTC] or regional value content [RVC]”) most intensively. In contrast, a few U.S. FTAs use RVC and others use CTC most intensively, and the distribution of simplified PSR types appears to be almost the same among FTAs in each group. The detailed PSR types, however, are likely to be more heterogeneous and complicated in U.S. FTAs than in Japan's FTAs. Such dissimilar features are more salient in machinery sectors with dense global value chains (GVCs)/international production networks (IPNs). The quantitative estimates suggest that the selective types utilized by Japan for most machinery products are much less trade-restrictive, while certain complicated types adopted by the United States for many machinery products are substantially trade-restrictive. Our detailed investigation revealed the two countries’ contrasting strategies, namely, Japan appears to aggressively utilize FTAs with less restrictive PSRs to enhance GVCs/IPNs, while the United States tends to make PSRs more restrictive and complicated in detail as a sort of disguised protection tool.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136079108","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Structural monetary policy (SMP)—differentiated policy action targeting specific economic activity— has become more frequently applied by major central banks lately, although the practice of developmental central banking has been in existence for quite some time. The effectiveness of such structural monetary policy, however, has not been adequately evaluated. In this paper, we attempt to provide a comprehensive analysis of SMP introduced by the People's Bank of China and also to offer a broad framework for thinking about SMP. We first document the brief history and main components of China's SMP and estimate the narrow- and broad-measures of SMP accounting for 17.9 percent and 27.9 percent of base money, respectively, at the end of 2022. We then discuss two key factors determining success of SMP: bank credit flows to the targeted area and risk implications for banks. By applying the difference-in-difference and panel data analysis approaches using a monthly data set of city commercial bank loans, we evaluate the impacts of targeted required reserve ratio (RRR) cuts in 2019 and 2020 on small and medium-sized enterprise lending. No statistically significant impact is found, whether in the short run or in the long run, and whether for medium-sized enterprises or for micro and small businesses). We conclude that, as no statistically significant impact of targeted RRRs are found, SMP's effectiveness, if exists at all, might be temporary; when facing impaired monetary policy transmission, it is important to conduct careful analysis of its effectiveness and sustainability.
{"title":"Assessing Effectiveness of Structural Monetary Policy in China","authors":"Yiping Huang, Yan Shen, Danxu Cheng, Xinyu Chen","doi":"10.1162/asep_a_00873","DOIUrl":"https://doi.org/10.1162/asep_a_00873","url":null,"abstract":"Abstract Structural monetary policy (SMP)—differentiated policy action targeting specific economic activity— has become more frequently applied by major central banks lately, although the practice of developmental central banking has been in existence for quite some time. The effectiveness of such structural monetary policy, however, has not been adequately evaluated. In this paper, we attempt to provide a comprehensive analysis of SMP introduced by the People's Bank of China and also to offer a broad framework for thinking about SMP. We first document the brief history and main components of China's SMP and estimate the narrow- and broad-measures of SMP accounting for 17.9 percent and 27.9 percent of base money, respectively, at the end of 2022. We then discuss two key factors determining success of SMP: bank credit flows to the targeted area and risk implications for banks. By applying the difference-in-difference and panel data analysis approaches using a monthly data set of city commercial bank loans, we evaluate the impacts of targeted required reserve ratio (RRR) cuts in 2019 and 2020 on small and medium-sized enterprise lending. No statistically significant impact is found, whether in the short run or in the long run, and whether for medium-sized enterprises or for micro and small businesses). We conclude that, as no statistically significant impact of targeted RRRs are found, SMP's effectiveness, if exists at all, might be temporary; when facing impaired monetary policy transmission, it is important to conduct careful analysis of its effectiveness and sustainability.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136079115","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Congestion and long commutes would lower the livability of cities. To curb such externalities, various policies have been adopted to limit urban sprawl. However, the empirical relationship between urban sprawl and traffic externalities is ambiguous. This paper investigates this issue by examining state-built new towns (a particular feature of China's urbanization processes) and congestion delay indices (measured from the data for urban trips). The results show that the number of new towns was positively correlated with intra-urban congestion and negatively correlated with traveling speed. Further, the congestion effects were severe during rush hours. Cities with more new-town projects have more residents choosing long-distance commuting modes, and greater average commuting time and distance. This finding shows a worse job–housing balance in the city. Moreover, these traffic externalities were primarily caused by new towns built since 2008, which have a larger scale and longer distances to the urban center.
{"title":"Planning for Livability? State-built New Towns and Urban Traffic Externalities in China*","authors":"Kunlun Wang","doi":"10.1162/asep_a_00866","DOIUrl":"https://doi.org/10.1162/asep_a_00866","url":null,"abstract":"Abstract Congestion and long commutes would lower the livability of cities. To curb such externalities, various policies have been adopted to limit urban sprawl. However, the empirical relationship between urban sprawl and traffic externalities is ambiguous. This paper investigates this issue by examining state-built new towns (a particular feature of China's urbanization processes) and congestion delay indices (measured from the data for urban trips). The results show that the number of new towns was positively correlated with intra-urban congestion and negatively correlated with traveling speed. Further, the congestion effects were severe during rush hours. Cities with more new-town projects have more residents choosing long-distance commuting modes, and greater average commuting time and distance. This finding shows a worse job–housing balance in the city. Moreover, these traffic externalities were primarily caused by new towns built since 2008, which have a larger scale and longer distances to the urban center.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42295696","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract This paper summarizes stylized facts of three dimensions of population agglomeration and the radiation effects of central cities relating to the evolutionary laws of China's population distribution. We test with decennial census data from 2000 to 2020 to identify determinants of population agglomeration and radiation effects. The results show that the distance to the major ports, central cities, and city centers of central cities determines China's population concentration. Moreover, central cities have apparent radiation effects. The closer to the central cities or the larger the population and economic scale of the central cities, the more the population is concentrated in peripheral cities or counties.
{"title":"Agglomeration and Radiation: Central Cities and China's Spatial Economy*","authors":"Jiewei Li, Wenyue Zhao, Qi-xue Liang","doi":"10.1162/asep_a_00864","DOIUrl":"https://doi.org/10.1162/asep_a_00864","url":null,"abstract":"Abstract This paper summarizes stylized facts of three dimensions of population agglomeration and the radiation effects of central cities relating to the evolutionary laws of China's population distribution. We test with decennial census data from 2000 to 2020 to identify determinants of population agglomeration and radiation effects. The results show that the distance to the major ports, central cities, and city centers of central cities determines China's population concentration. Moreover, central cities have apparent radiation effects. The closer to the central cities or the larger the population and economic scale of the central cities, the more the population is concentrated in peripheral cities or counties.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44488466","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract We examine the health impacts of long commute time by exploiting a large-scale placed-based policy in South Korea. The policy relocated public employers in the capital area to disadvantaged cities. However, some public employees kept their residences in the capital area and spend long hours commuting. Using this change, we estimate two-stage least squares models whose results suggest that having a long commute substantially increases usage of medical services, particularly to treat respiratory, circulatory, and endocrine and metabolic diseases. However, we find mixed effects of long commute time on medical checkup outcomes and health-related activities such as exercise.
{"title":"Sejong's Effects on People's Health: Consequences of a Long Commute*","authors":"S. Lim, Soohyung Lee","doi":"10.1162/asep_a_00863","DOIUrl":"https://doi.org/10.1162/asep_a_00863","url":null,"abstract":"Abstract We examine the health impacts of long commute time by exploiting a large-scale placed-based policy in South Korea. The policy relocated public employers in the capital area to disadvantaged cities. However, some public employees kept their residences in the capital area and spend long hours commuting. Using this change, we estimate two-stage least squares models whose results suggest that having a long commute substantially increases usage of medical services, particularly to treat respiratory, circulatory, and endocrine and metabolic diseases. However, we find mixed effects of long commute time on medical checkup outcomes and health-related activities such as exercise.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43277280","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract We use an asymmetric Nash bargaining model between worker and firms, under the assumption of firm-specific human capital (FSHC), to argue that city size influences the proportion of the rent received by labor (i.e., the magnitude of labor share of rent). We argue that an increase in city size generates both a positive effect (the “FSHC-autonomy effect”) on the bargaining power of labor as well as a negative effect (the division-of-labor effect) on the bargaining power of labor. Our empirical exploration found that labor share of the rent (in percent) increases with city size, suggesting that the FSHC-autonomy effect is greater than the division of labor effect.
{"title":"A Note on City Size and the Sharing of Quasi-Rent between Labor and Capital in China","authors":"Zhe Kong, Xiaohan Zhang, Weiwei Cui","doi":"10.1162/asep_a_00867","DOIUrl":"https://doi.org/10.1162/asep_a_00867","url":null,"abstract":"Abstract We use an asymmetric Nash bargaining model between worker and firms, under the assumption of firm-specific human capital (FSHC), to argue that city size influences the proportion of the rent received by labor (i.e., the magnitude of labor share of rent). We argue that an increase in city size generates both a positive effect (the “FSHC-autonomy effect”) on the bargaining power of labor as well as a negative effect (the division-of-labor effect) on the bargaining power of labor. Our empirical exploration found that labor share of the rent (in percent) increases with city size, suggesting that the FSHC-autonomy effect is greater than the division of labor effect.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44302581","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract We analyze the effects of local government debt on the proliferation of zombie firms. With aggregated prefecture-level debt data and firm-level data from 2006 to 2013, the empirical evidence demonstrates that the local government debt significantly exacerbates the “zombification” of local firms, mainly through the credit-favoritism to state-owned enterprises and capital misallocation. Our analysis also shows that the magnitude of zombification effects is influenced by debt liquidity and the primary functions of local government financing vehicles.
{"title":"Local Government Debt and Firm Zombification: Evidence from China","authors":"Yang He, Yun Ma, M. Tang, Lu Wang","doi":"10.1162/asep_a_00865","DOIUrl":"https://doi.org/10.1162/asep_a_00865","url":null,"abstract":"Abstract We analyze the effects of local government debt on the proliferation of zombie firms. With aggregated prefecture-level debt data and firm-level data from 2006 to 2013, the empirical evidence demonstrates that the local government debt significantly exacerbates the “zombification” of local firms, mainly through the credit-favoritism to state-owned enterprises and capital misallocation. Our analysis also shows that the magnitude of zombification effects is influenced by debt liquidity and the primary functions of local government financing vehicles.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47800412","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Based on highly disaggregated customs data from 2016–19, this paper investigates the impact of the China–U.S. trade war on the exports of Chinese firms, from the perspective of the extensive margin of product scope. The paper finds that the rise in U.S. import tariffs during the trade war led to Chinese exporters concentrating on production of their core products and shrinking their export scope. Higher import tariffs resulted in an average 2.43 percent decline in export scope and an average 1.25 percent increase in the export share of core products. The damage was particularly pronounced for intermediate products and heterogeneous products, which is consistent with the high duties. The paper provides direct evidence on the harm to export diversification caused by the China–U.S. trade war, suggesting a welfare loss from the decrease in product variety, as emphasized in the literature. This result holds after controlling for factors such as production cycles and heterogeneity.
{"title":"Trade Protectionism and Export Adjustment on the Extensive Margin: An Analysis Based on the China–U.S. Trade War*","authors":"W. Tian, Y. Hei","doi":"10.1162/asep_a_00859","DOIUrl":"https://doi.org/10.1162/asep_a_00859","url":null,"abstract":"Abstract Based on highly disaggregated customs data from 2016–19, this paper investigates the impact of the China–U.S. trade war on the exports of Chinese firms, from the perspective of the extensive margin of product scope. The paper finds that the rise in U.S. import tariffs during the trade war led to Chinese exporters concentrating on production of their core products and shrinking their export scope. Higher import tariffs resulted in an average 2.43 percent decline in export scope and an average 1.25 percent increase in the export share of core products. The damage was particularly pronounced for intermediate products and heterogeneous products, which is consistent with the high duties. The paper provides direct evidence on the harm to export diversification caused by the China–U.S. trade war, suggesting a welfare loss from the decrease in product variety, as emphasized in the literature. This result holds after controlling for factors such as production cycles and heterogeneity.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2023-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"64483023","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：