Pub Date : 2020-12-01DOI: 10.1515/cfer-2020-090404
Aijian Wang, Yu-Jie Fang, B. Yu
This study discusses the effect and the dynamic mechanism of free trade zone (FTZ) development promoting regional economic growth in China from the perspective of institutional innovation, and finds as follows. (1) The identification process based on difference-in-differences (DID) testing and Bayesian information criterion (BIC) indicates that the institutional innovation of FTZs not only drives regional economic growth, but acts as one of the core factors among the many drivers. (2) The rapid development of investment and trade, as the primal core function of FTZs, is an important dynamic factor for FTZs to promote regional economic growth. It means in the macro-context of lasting and repeated China-U.S. trade frictions, FTZ development should refer to the practice of China (Shanghai) Pilot Free Trade Zone and China (Zhejiang) Pilot Free Trade Zone in aligning to high-standard investment and trade criteria, return to the origin of free trade, and actively seek policy support in improving trade openness and investment facilitation. (3) With the synthetic control method used, the study fi nds a wide gap in the “experimental effect” of setting up FTZs in different areas. The effect is better in coastal FTZs than in inland ones, and FTZs established later usually have less noticeable effect. On this account, FTZs in China should be positioned differently based on their characteristics of location and endowment; featured development modes should be explored to reduce homogeneous competition; development of coastal and inland FTZs should be balanced and coordinated.
{"title":"Development of Pilot Free Trade Zones and Regional Economic Growth in China: Comparison on the Conducting Paths and Dynamic Mechanisms","authors":"Aijian Wang, Yu-Jie Fang, B. Yu","doi":"10.1515/cfer-2020-090404","DOIUrl":"https://doi.org/10.1515/cfer-2020-090404","url":null,"abstract":"This study discusses the effect and the dynamic mechanism of free trade zone (FTZ) development promoting regional economic growth in China from the perspective of institutional innovation, and finds as follows. (1) The identification process based on difference-in-differences (DID) testing and Bayesian information criterion (BIC) indicates that the institutional innovation of FTZs not only drives regional economic growth, but acts as one of the core factors among the many drivers. (2) The rapid development of investment and trade, as the primal core function of FTZs, is an important dynamic factor for FTZs to promote regional economic growth. It means in the macro-context of lasting and repeated China-U.S. trade frictions, FTZ development should refer to the practice of China (Shanghai) Pilot Free Trade Zone and China (Zhejiang) Pilot Free Trade Zone in aligning to high-standard investment and trade criteria, return to the origin of free trade, and actively seek policy support in improving trade openness and investment facilitation. (3) With the synthetic control method used, the study fi nds a wide gap in the “experimental effect” of setting up FTZs in different areas. The effect is better in coastal FTZs than in inland ones, and FTZs established later usually have less noticeable effect. On this account, FTZs in China should be positioned differently based on their characteristics of location and endowment; featured development modes should be explored to reduce homogeneous competition; development of coastal and inland FTZs should be balanced and coordinated.","PeriodicalId":66259,"journal":{"name":"China Finance and Economic Review","volume":"9 1","pages":"67 - 86"},"PeriodicalIF":0.0,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45858326","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 : 2020-12-01DOI: 10.1515/cfer-2020-090405
Zhihan Yu
{"title":"Revisiting the Chinese Housing Boom","authors":"Zhihan Yu","doi":"10.1515/cfer-2020-090405","DOIUrl":"https://doi.org/10.1515/cfer-2020-090405","url":null,"abstract":"","PeriodicalId":66259,"journal":{"name":"China Finance and Economic Review","volume":"9 1","pages":"87 - 109"},"PeriodicalIF":0.0,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46371448","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 : 2020-12-01DOI: 10.1515/cfer-2020-090403
Guanhong Jiang, J. Zeng
{"title":"Financing Constraints and the Mode of Outward Foreign Direct Investment: Cross-Border Mergers and Acquisitions or Greenfield Investment","authors":"Guanhong Jiang, J. Zeng","doi":"10.1515/cfer-2020-090403","DOIUrl":"https://doi.org/10.1515/cfer-2020-090403","url":null,"abstract":"","PeriodicalId":66259,"journal":{"name":"China Finance and Economic Review","volume":"9 1","pages":"46 - 66"},"PeriodicalIF":0.0,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43043294","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 : 2020-12-01DOI: 10.1515/cfer-2020-090406
Shouhua Wei, Yang Yang, Long Chen
{"title":"Administrative Hierarchy, Government Favoritism and Size Growth of Cities","authors":"Shouhua Wei, Yang Yang, Long Chen","doi":"10.1515/cfer-2020-090406","DOIUrl":"https://doi.org/10.1515/cfer-2020-090406","url":null,"abstract":"","PeriodicalId":66259,"journal":{"name":"China Finance and Economic Review","volume":"9 1","pages":"110 - 128"},"PeriodicalIF":0.0,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42244329","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 : 2020-12-01DOI: 10.1515/cfer-2020-090401
Bingyang Lyu, Zhao Li
{"title":"Study on Fiscal Sustainability and Fiscal Response to Epidemic","authors":"Bingyang Lyu, Zhao Li","doi":"10.1515/cfer-2020-090401","DOIUrl":"https://doi.org/10.1515/cfer-2020-090401","url":null,"abstract":"","PeriodicalId":66259,"journal":{"name":"China Finance and Economic Review","volume":"9 1","pages":"3 - 23"},"PeriodicalIF":0.0,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48739468","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 : 2020-12-01DOI: 10.1515/cfer-2020-090402
Zongyue He, Xuguang Song
{"title":"How Does Digital Finance Promote Household Consumption: An Analysis Based on Micro Survey Data","authors":"Zongyue He, Xuguang Song","doi":"10.1515/cfer-2020-090402","DOIUrl":"https://doi.org/10.1515/cfer-2020-090402","url":null,"abstract":"","PeriodicalId":66259,"journal":{"name":"China Finance and Economic Review","volume":"9 1","pages":"24 - 45"},"PeriodicalIF":0.0,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42878503","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 : 2020-09-01DOI: 10.1515/cfer-2020-090304
R. Liu, Jin Fan, F. Dai
{"title":"Comparison and Measurement of Economic Growth in Coastal Areas and Inland Provinces of China","authors":"R. Liu, Jin Fan, F. Dai","doi":"10.1515/cfer-2020-090304","DOIUrl":"https://doi.org/10.1515/cfer-2020-090304","url":null,"abstract":"","PeriodicalId":66259,"journal":{"name":"China Finance and Economic Review","volume":"9 1","pages":"73 - 94"},"PeriodicalIF":0.0,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47848822","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 : 2020-09-01DOI: 10.1515/cfer-2020-090306
Shao Yi, Guiyang Xu
{"title":"Problems and Countermeasures of Circulation Enterprises in Major Public Health Incidents","authors":"Shao Yi, Guiyang Xu","doi":"10.1515/cfer-2020-090306","DOIUrl":"https://doi.org/10.1515/cfer-2020-090306","url":null,"abstract":"","PeriodicalId":66259,"journal":{"name":"China Finance and Economic Review","volume":"9 1","pages":"116 - 128"},"PeriodicalIF":0.0,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42724725","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 : 2020-09-01DOI: 10.1515/cfer-2020-090302
Guoliang Hu, Jiyuan Wang
{"title":"A Study on the Transfer of China’s Manufacturing under the Adjustment of Global Industrial Layout—An Analysis Based on the Multi-Regional Input-Output Model of China and the United States","authors":"Guoliang Hu, Jiyuan Wang","doi":"10.1515/cfer-2020-090302","DOIUrl":"https://doi.org/10.1515/cfer-2020-090302","url":null,"abstract":"","PeriodicalId":66259,"journal":{"name":"China Finance and Economic Review","volume":"9 1","pages":"26 - 49"},"PeriodicalIF":0.0,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48944321","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 : 2020-09-01DOI: 10.1515/cfer-2020-090303
Shouwei Qi, Hui Mao, Jidong Zhang
{"title":"Financial Pressure, Economic Stimulus and Land Transfer with the Aim of Attracting Investment—Empirical Evidence Based on Micro Data of Industrial Land","authors":"Shouwei Qi, Hui Mao, Jidong Zhang","doi":"10.1515/cfer-2020-090303","DOIUrl":"https://doi.org/10.1515/cfer-2020-090303","url":null,"abstract":"","PeriodicalId":66259,"journal":{"name":"China Finance and Economic Review","volume":"9 1","pages":"50 - 72"},"PeriodicalIF":0.0,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42275051","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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