A Bridge on Economic Issues between China and the World
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US–China Tensions
John Rogers, Bo Sun, Chris Webster, Apr 28, 2021We construct a US–China Tensions index (UCT) and examine its economic transmission effects. The index spikes notably around the 2008 unrest in Tibet and the China military buildup, the 2018 arrest of a Huawei executive, and the 2018–2019 trade disputes. The index reaches its peak at the onset of the 2020 global pandemic. We interpret such tension as reflecting both the realization of new barriers between the two countries and the risk of existing barriers escalating. We show that heightened US–China Tension has adverse economic effects...
Anatomy of the CNH-CNY Peg: The Crucial Role of Liquidity Policies
Saleem Bahaj, Ricardo Reis, Jun 26, 2024This article discussing the changes in the exchange rate between the offshore yuan (CNH) and onshore yuan (CNY) help stabilize the CNY-US dollar exchange rate, but they also pose challenges to China's capital controls.
Book Synopsis New Cycle or Old (Guaranteed) Bubble?
Ning Zhu, Oct 04, 2017It seems necessary that one gains some deeper understanding of the sources of China’s phenomenal economic growth. Apart from all well-founded extant explanations, my recent book Guaranteed Bubble argues for another important yet previously overlooked source: the guarantees provided by the Chinese government.
Rural Property Rights and Agricultural Productivity
A. V. Chari, Elaine M. Liu, Shing-Yi Wang, Yongxiang Wang, Jan 17, 2018The Rural Land Contracting Law (RLCL), announced in 2003, is a landmark law for agricultural households in rural China. It provides new legal protections for leasing agricultural land. In theory, increasing free market exchanges of land should improve agricultural productivity by facilitating the movement of land towards the most productive users. We find that the property rights reform led to a 10 percent increase in land rental activity among rural households, a redistribution of land towards more productive farmers, and a 7 percent increase in the aggregate productivity of land. We also observe an increased responsiveness of land allocation across crops to changes in crop prices.
E-Commerce Development and Household Consumption Growth in China
Xubei Luo, Yue Wang, Xiaobo Zhang, Sep 04, 2019China has quickly become the largest e-commerce market in the world. E-commerce has reshaped consumption patterns in recent years. This paper examines how e-commerce development has shaped household consumption growth in China. It finds that e-commerce development is associated with higher consumption growth, that the link is stronger for the rural sample, inland regions, and poor households...
