Abstract This paper evaluates the minimum living standard guarantee program (Dibao) in rural China using several methods including the income approach, the multidimensional poverty approach, and a proxy means test approach. We find that the targeting accuracy of the program appears greater the more comprehensive the evaluation method used—but all these methods find low levels of targeting accuracy. Because Dibao fund allocation is largely decided by the villagers, who take a more holistic view in selecting “poor” households than the various evaluation methods, we argue that the low targeting efficacy may be due to the lack of comprehensive evaluation method, as opposed to the low targeting of the program itself. This paper argues that the community-based targeting used by the Dibao program may be a better way to combat poverty in many developing countries, as it requires less administrative capacity and overcomes the difficulties of identifying poor households that qualify for assistance.
{"title":"When Poverty Reduction Meets Democracy: An Investigation into the Use of Different Evaluation Methods for Assessing the Effectiveness of a Social Program*","authors":"Peng Zhan, Shi Li, Yangyang Shen, Xiaobing Wang","doi":"10.1162/asep_a_00850","DOIUrl":"https://doi.org/10.1162/asep_a_00850","url":null,"abstract":"Abstract This paper evaluates the minimum living standard guarantee program (Dibao) in rural China using several methods including the income approach, the multidimensional poverty approach, and a proxy means test approach. We find that the targeting accuracy of the program appears greater the more comprehensive the evaluation method used—but all these methods find low levels of targeting accuracy. Because Dibao fund allocation is largely decided by the villagers, who take a more holistic view in selecting “poor” households than the various evaluation methods, we argue that the low targeting efficacy may be due to the lack of comprehensive evaluation method, as opposed to the low targeting of the program itself. This paper argues that the community-based targeting used by the Dibao program may be a better way to combat poverty in many developing countries, as it requires less administrative capacity and overcomes the difficulties of identifying poor households that qualify for assistance.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2022-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46265672","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 provides empirical evidence that supports the continuing importance of machinery international production networks (IPNs) in East Asia. We first confirm their robustness and resilience, even during the coronavirus disease (COVID-19) pandemic, as well as the significance of East Asian countries as suppliers of machinery final products and parts and components for the world. Then, we demonstrate how deeply East Asian countries are committed to machinery IPNs by applying a gravity equation to pre-pandemic bilateral machinery trade and comparing actual values with fitted values of the estimated equation. The gravity estimation exercise indicates that machinery trade is basically regional—within Factory Asia, Factory North America, and Factory Europe—but Factory Asia also has strong inter-regional linkages. It also verifies that ASEAN has played an important role in Factory Asia, going far beyond the gravity prediction, for the development of machinery IPNs.
{"title":"East Asian Production Networks Go Beyond the Gravity Prediction","authors":"M. Ando, F. Kimura, Kenta Yamanouchi","doi":"10.1162/asep_a_00852","DOIUrl":"https://doi.org/10.1162/asep_a_00852","url":null,"abstract":"Abstract This paper provides empirical evidence that supports the continuing importance of machinery international production networks (IPNs) in East Asia. We first confirm their robustness and resilience, even during the coronavirus disease (COVID-19) pandemic, as well as the significance of East Asian countries as suppliers of machinery final products and parts and components for the world. Then, we demonstrate how deeply East Asian countries are committed to machinery IPNs by applying a gravity equation to pre-pandemic bilateral machinery trade and comparing actual values with fitted values of the estimated equation. The gravity estimation exercise indicates that machinery trade is basically regional—within Factory Asia, Factory North America, and Factory Europe—but Factory Asia also has strong inter-regional linkages. It also verifies that ASEAN has played an important role in Factory Asia, going far beyond the gravity prediction, for the development of machinery IPNs.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2022-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41296837","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 study examines the risk of premature deindustrialization in latecomer developing countries in Asia, focusing on their manufacturing output ratio. Diverging from the literature that treats Asian economies as a group with comparative advantages in manufacturing, this empirical analysis adopts the latecomer index to demonstrate downward shifts in the latecomers’ manufacturing–income relationship, implying a premature deindustrialization risk. Furthermore, it shows that the risk is higher for manufacturing trade-deficit countries (compared with trade-surplus countries) and for South Asian countries (compared with Southeast Asian countries). Therefore, Asian economies should improve their logistics performance for greater global value chain participation to avoid premature deindustrialization.
{"title":"Premature Deindustrialization Risk in Asian Latecomer Developing Economies","authors":"Hiroyuki Taguchi, Yuta Tsukada","doi":"10.1162/asep_a_00851","DOIUrl":"https://doi.org/10.1162/asep_a_00851","url":null,"abstract":"Abstract This study examines the risk of premature deindustrialization in latecomer developing countries in Asia, focusing on their manufacturing output ratio. Diverging from the literature that treats Asian economies as a group with comparative advantages in manufacturing, this empirical analysis adopts the latecomer index to demonstrate downward shifts in the latecomers’ manufacturing–income relationship, implying a premature deindustrialization risk. Furthermore, it shows that the risk is higher for manufacturing trade-deficit countries (compared with trade-surplus countries) and for South Asian countries (compared with Southeast Asian countries). Therefore, Asian economies should improve their logistics performance for greater global value chain participation to avoid premature deindustrialization.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2022-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45682485","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}
Pub Date : 2022-03-01DOI: 10.1162/asep.2005.4.2.128
Kathryn J. Edin, H. L. Shaefer, D. Schanzenbach
Willim Poole: Mislikin's paper provides a thorough examination of efficient-markets theory and many useful ideas on its implications for macro models and monetary policy. His empirical results replicate and extend previous work on efficient markets. His work is careful and thorough. As far as I can see from reading the paper, he has been extremely careful in his treatment of the data and in his statistical analysis. Mishkin's empirical work uncovers only one puzzle. In equation 29, when he regresses the return from holding common stocks on the threemonth treasury bill rate, he finds a negative coefficient rather than the positive one predicted by the theory. The efficient-markets model, of course, predicts that, except for differences in returns due to risk and liquidity premiums, returns should be equalized on all assets; but Mishkin's equation comes up with the result that when the treasury bill rate is high, the rate of return expected on stocks is low. To understand that equation, suppose that the bill rate is relatively high at 8 percent. The quarterly rate of return on bills in decimal form is then 0.02. A bill rate of 0.02 times the regression coefficient of about -5.0 is -0.10. Add to this figure the constant term in the equation of 0.08, and a per quarter expected return is obtained from holding common stocks of -0.02, or -8 percent per year. Similarly, when the bill rate is relatively low-say 4 percent per year or 0.01 per quarter-the expected return on common stock is 0.03 per quarter or 12 percent at an annual rate. The puzzle is how the expected return on common stocks can be negative when treasury bills earing a positive rate of return can always be held. A possible explanation for this result depends on the existence of transactions costs. The time series of changes in the bill rate displays
{"title":"Comments and Discussion","authors":"Kathryn J. Edin, H. L. Shaefer, D. Schanzenbach","doi":"10.1162/asep.2005.4.2.128","DOIUrl":"https://doi.org/10.1162/asep.2005.4.2.128","url":null,"abstract":"Willim Poole: Mislikin's paper provides a thorough examination of efficient-markets theory and many useful ideas on its implications for macro models and monetary policy. His empirical results replicate and extend previous work on efficient markets. His work is careful and thorough. As far as I can see from reading the paper, he has been extremely careful in his treatment of the data and in his statistical analysis. Mishkin's empirical work uncovers only one puzzle. In equation 29, when he regresses the return from holding common stocks on the threemonth treasury bill rate, he finds a negative coefficient rather than the positive one predicted by the theory. The efficient-markets model, of course, predicts that, except for differences in returns due to risk and liquidity premiums, returns should be equalized on all assets; but Mishkin's equation comes up with the result that when the treasury bill rate is high, the rate of return expected on stocks is low. To understand that equation, suppose that the bill rate is relatively high at 8 percent. The quarterly rate of return on bills in decimal form is then 0.02. A bill rate of 0.02 times the regression coefficient of about -5.0 is -0.10. Add to this figure the constant term in the equation of 0.08, and a per quarter expected return is obtained from holding common stocks of -0.02, or -8 percent per year. Similarly, when the bill rate is relatively low-say 4 percent per year or 0.01 per quarter-the expected return on common stock is 0.03 per quarter or 12 percent at an annual rate. The puzzle is how the expected return on common stocks can be negative when treasury bills earing a positive rate of return can always be held. A possible explanation for this result depends on the existence of transactions costs. The time series of changes in the bill rate displays","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1162/asep.2005.4.2.128","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49240626","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 study investigates how minimum wage affects small firms through spillover effects from large firms. Using firm-level panel data from Anhui Province in China, we find that after a minimum wage increase, small firms will reduce workers’ wages and create jobs due to the inflow of displaced workers from large firms. This spillover effect is larger for micro firms and private firms, where minimum wage compliance tends to be lower. We also find that high-tech small firms are more affected than low-tech ones because of their greater demand for skilled labor. Our findings not only highlight the unintended consequences of minimum wage on small firms in China, but also help to explain the ambiguous employment effects of minimum wage on the covered sector in developing countries.
{"title":"Effects of the Minimum Wage on Small Firms in China: Spillover Effects from Large Firms*","authors":"Qiaoyi Chen, Zhao Chen, Lin Guan","doi":"10.1162/asep_a_00844","DOIUrl":"https://doi.org/10.1162/asep_a_00844","url":null,"abstract":"Abstract This study investigates how minimum wage affects small firms through spillover effects from large firms. Using firm-level panel data from Anhui Province in China, we find that after a minimum wage increase, small firms will reduce workers’ wages and create jobs due to the inflow of displaced workers from large firms. This spillover effect is larger for micro firms and private firms, where minimum wage compliance tends to be lower. We also find that high-tech small firms are more affected than low-tech ones because of their greater demand for skilled labor. Our findings not only highlight the unintended consequences of minimum wage on small firms in China, but also help to explain the ambiguous employment effects of minimum wage on the covered sector in developing countries.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2022-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45769340","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 Stablecoins and central bank digital currencies are on the horizon in Asia, and in some cases have already arrived. This paper provides new analysis and a critique of the use case for both forms of digital currency. It provides time-varying estimates of devaluation risk for the leading stablecoin, Tether, using data from the futures market. It describes the formidable obstacles to widespread use of central bank digital currencies in cross-border transactions, the context in which their utility is arguably greatest. The bottom line is that significant uncertainties continue to dog the region's digital currency initiatives.
{"title":"Stablecoins and Central Bank Digital Currencies: Policy and Regulatory Challenges*","authors":"Barry Eichengreen, Ganesh Viswanath-Natraj","doi":"10.1162/asep_a_00843","DOIUrl":"https://doi.org/10.1162/asep_a_00843","url":null,"abstract":"Abstract Stablecoins and central bank digital currencies are on the horizon in Asia, and in some cases have already arrived. This paper provides new analysis and a critique of the use case for both forms of digital currency. It provides time-varying estimates of devaluation risk for the leading stablecoin, Tether, using data from the futures market. It describes the formidable obstacles to widespread use of central bank digital currencies in cross-border transactions, the context in which their utility is arguably greatest. The bottom line is that significant uncertainties continue to dog the region's digital currency initiatives.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2022-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45459738","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 examines the unconventional monetary policies of the Bank of Japan from 2002 to 2019 with a focus on open market operations. We apply a principal component analysis to investigate the complexity of monetary policy. Our results identify four principal components that explain the variance of measures taken by the Bank of Japan and its operations of various facilities: asset purchase measures including Japanese Government Bonds (JGBs), Exchange-Traded Funds (ETFs), Japanese Real Estate Investment Trusts (J-REITs), and three different liquidity supply measures. Complexity differs substantially among different governorships of Fukui, Shirakawa (most complex), and Kuroda. We derive some conclusions from the increased complexity with implications for the economy.
{"title":"Unconventional Monetary Policy through Open Market Operations: A Principal Component Analysis*","authors":"Markus Heckel, K. Nishimura","doi":"10.1162/asep_a_00842","DOIUrl":"https://doi.org/10.1162/asep_a_00842","url":null,"abstract":"Abstract This paper examines the unconventional monetary policies of the Bank of Japan from 2002 to 2019 with a focus on open market operations. We apply a principal component analysis to investigate the complexity of monetary policy. Our results identify four principal components that explain the variance of measures taken by the Bank of Japan and its operations of various facilities: asset purchase measures including Japanese Government Bonds (JGBs), Exchange-Traded Funds (ETFs), Japanese Real Estate Investment Trusts (J-REITs), and three different liquidity supply measures. Complexity differs substantially among different governorships of Fukui, Shirakawa (most complex), and Kuroda. We derive some conclusions from the increased complexity with implications for the economy.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2022-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46738888","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 Does “openness” determine “catching-up” of establishments to frontier technology and total factor productivity (TFP) in Malaysia's electrical and electronic (E&E) industries? We contribute to this debate by applying a new measurement of processing trade intensity. Utilizing stochastic frontier analysis and Levinsohn and Pertrin (LP) TFP, we investigate determinants of technical efficiency (TE) and TFP. The results show that processing trade intensity and not export intensity determines TE and TFP for the overall sample and subsample of foreign establishments. In the processing trade subsample, export intensity is negatively related to TE and unrelated to TFP, obtaining an unconventional result that exporters are inefficient and not associated with TFP. The results show that higher foreign ownership shares of establishments are negatively associated with LP TFP.
{"title":"Frontier Technology, Trade, FDI, and TFP in the Electrical and Electronic Industries: Exporting or Processing Trade?*","authors":"N. A. Khalifah","doi":"10.1162/asep_a_00847","DOIUrl":"https://doi.org/10.1162/asep_a_00847","url":null,"abstract":"Abstract Does “openness” determine “catching-up” of establishments to frontier technology and total factor productivity (TFP) in Malaysia's electrical and electronic (E&E) industries? We contribute to this debate by applying a new measurement of processing trade intensity. Utilizing stochastic frontier analysis and Levinsohn and Pertrin (LP) TFP, we investigate determinants of technical efficiency (TE) and TFP. The results show that processing trade intensity and not export intensity determines TE and TFP for the overall sample and subsample of foreign establishments. In the processing trade subsample, export intensity is negatively related to TE and unrelated to TFP, obtaining an unconventional result that exporters are inefficient and not associated with TFP. The results show that higher foreign ownership shares of establishments are negatively associated with LP TFP.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2022-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44266160","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 investigate the effects of free trade agreements (FTAs), focusing on the impact of cumulative rules of origin (ROO) on trade costs. Using a gravity regression model, we estimate the effect of various cumulative ROO systems on the measured trade costs. We apply these estimates to static and capital accumulation computable general equilibrium models to compare the effects of mega-regional FTAs in the Asia-Pacific region—namely, the Regional Comprehensive Economic Partnership (RCEP), Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), and Free Trade Areas in the Asia-Pacific (FTAAP). We find that mega-regional FTAs may not be a viable alternative to a multilateral trading system or bilateral FTAs unless less restrictive cumulative ROO are adopted. Successful FTAs depend on an appropriate cumulative ROO provision system rather than their membership expansion.
{"title":"Estimating the Impact of Cumulative Rules of Origin on Trade Costs: An Application to Mega-regional Free Trade Agreements in the Asia-Pacific Region*","authors":"Chul Chung, Innwon Park, Soonchan Park","doi":"10.1162/asep_a_00846","DOIUrl":"https://doi.org/10.1162/asep_a_00846","url":null,"abstract":"Abstract We investigate the effects of free trade agreements (FTAs), focusing on the impact of cumulative rules of origin (ROO) on trade costs. Using a gravity regression model, we estimate the effect of various cumulative ROO systems on the measured trade costs. We apply these estimates to static and capital accumulation computable general equilibrium models to compare the effects of mega-regional FTAs in the Asia-Pacific region—namely, the Regional Comprehensive Economic Partnership (RCEP), Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), and Free Trade Areas in the Asia-Pacific (FTAAP). We find that mega-regional FTAs may not be a viable alternative to a multilateral trading system or bilateral FTAs unless less restrictive cumulative ROO are adopted. Successful FTAs depend on an appropriate cumulative ROO provision system rather than their membership expansion.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2022-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49522552","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}
J. Cheong, S. Narayanan, Jacqueline Lisa Fernandez
Abstract The manufacturing sector is a major avenue for female employment in the urban labor market in Malaysia. Only two studies, both published more than two decades ago, have examined gender earning differentials in this sector. Since then, the percentage of women being educated has increased, along with their participation rate, and several laws protecting their rights have also been passed, making it timely to re-examine the earnings gap. We do this by drawing on more recent data from a larger representative survey of manufacturing employees. The Blinder-Oaxaca technique, utilized in the previous two studies, was used to estimate the existing earnings gap and to decompose it to differences attributable to endowments, coefficients (traditionally viewed as subsuming discrimination), and the interaction between the two. We found a smaller gap than previously reported, with better female endowments helping to narrow the gap, and unexplained differences in coefficients being responsible for the remaining gap. The interaction effect was not statistically significant. Contrary to the earlier studies, the differential treatment of women in the manufacturing sector, rather than endowment differences, is hampering the equalization of earnings. This calls for newer approaches to closing the earnings gap.
{"title":"Re-examining Gender Earning Differentials in Malaysian Manufacturing","authors":"J. Cheong, S. Narayanan, Jacqueline Lisa Fernandez","doi":"10.1162/asep_a_00845","DOIUrl":"https://doi.org/10.1162/asep_a_00845","url":null,"abstract":"Abstract The manufacturing sector is a major avenue for female employment in the urban labor market in Malaysia. Only two studies, both published more than two decades ago, have examined gender earning differentials in this sector. Since then, the percentage of women being educated has increased, along with their participation rate, and several laws protecting their rights have also been passed, making it timely to re-examine the earnings gap. We do this by drawing on more recent data from a larger representative survey of manufacturing employees. The Blinder-Oaxaca technique, utilized in the previous two studies, was used to estimate the existing earnings gap and to decompose it to differences attributable to endowments, coefficients (traditionally viewed as subsuming discrimination), and the interaction between the two. We found a smaller gap than previously reported, with better female endowments helping to narrow the gap, and unexplained differences in coefficients being responsible for the remaining gap. The interaction effect was not statistically significant. Contrary to the earlier studies, the differential treatment of women in the manufacturing sector, rather than endowment differences, is hampering the equalization of earnings. This calls for newer approaches to closing the earnings gap.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2022-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48048105","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}