In approximately two decades China has transformed from a stagnant socialist economy to one that is vibrant and largely market-oriented. Given China's size, rapid economic growth, and her increasing importance as an economic and political power, the country's growth and development have aroused major interest among academics and policymakers worldwide. Written by a distinguished group of economists, this volume offers insight and in-depth analysis of a wide range of issues related to China's growth and development, from the role of higher education in the country's economic growth, to socioeconomic issues such as stock market manipulation and rural-urban migration. The contributors are established scholars in the field and their research methodologies are at the frontier of modern analytical economics, including economic dynamics and computable general equilibrium analysis. The volume will be of interest to students and researchers in the areas of Chinese economic studies, finance and international economics, international business, and transitional economy.
Contents: Economic Growth: Higher education in China: a growth paradox?, Belton M. Fleisher; Taxation and economic growth in China, Roger H. Gordon and Wei Li; How size matters to future Chinese growth: some trade-theoretic considerations, Henry Wan Jr; Product innovation, capital accumulation, and endogenous growth, Heng-fu Zou. Foreign Direct Investment And Trade: Regional attributes, public inputs and tax competition for FDI in China, Chi-Chur Chao, Win-Lin Chou and Eden S. H. Yu; An econometric estimation of locational choices of foreign direct investment: the case of Hong Kong and US firms in China, K.C. Fung, Hitomi Iizaka, Chelsea C. Lin and Alan Siu; Revealed comparative advantages and intra-regional trade of the world's three major regions: 1980-1995, Leonard K. Cheng, Siu Fai Leung and Zihui Ma. International Finance: Trade, financial linkages and contagion of currency crises, Lawrence J. Lau and Isabel K. Yan; Exchange rate dynamics: where is the saddle path?, Yin-Wong Cheung, Javier Gardeazabal and Jesus Vazquez; How well has the currency board performed? evidence from Hong Kong, Yum K. Kwan and Francis T. Lui. Socioeconomic Issues: A modified Harris-Todaro model of rural-urban migration for China, Derek Laing, Chuhwan Park and Ping Wang; The 'Banker Effect' on Chinese stock pricing, Yuan Shu and Guoqiang Bin; China's food economy and its implications for the rest of the world, Ninghui Li; Index.