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  • Author: Jikun Huang, Jun Yang, Scott Rozelle
  • Publication Date: 02-2007
  • Content Type: Working Paper
  • Institution: Asia-Pacific Research Center
  • Abstract: China's economy has experienced remarkable growth since economic reforms were initiated in the late 1970s and pushed forward by a number of complementary policies. Since the mid-1980s, rural township and village-owned enterprises (TVEs) development; measures to provide a better market environment through domestic market reform; fiscal and financial expansions; the devaluation of exchange rate; trade liberalisation; the expansion of special economic zones to attract foreign direct investment (FDI); the state-owned enterprise (SOE) reform; agricultural market liberalisation, and many other reforms have all contributed to China's economic growth. In response, the annual growth rate of gross domestic product (GDP) was about nearly 10% in 1979–2004 (National Bureau of Statistics of China 2005).
  • Topic: Agriculture, International Trade and Finance
  • Political Geography: China, Asia, Australia, Australia/Pacific
  • Author: Andrew G. Walder
  • Publication Date: 04-2003
  • Content Type: Working Paper
  • Institution: Asia-Pacific Research Center
  • Abstract: Command economies gave communist-era elites administrative control and material privilege but severely restricted money income and private wealth. Markets and privatization inject new value into public assets and create unprecedented opportunities for elite insiders to extract incomes or assume ownership. These opportunities vary with the extensiveness of regime change and the barriers to asset appropriation. Within these limits, they further vary with the concentration and form of economic assets and structural changes induced by reform. Elite advantages are smallest where regime change is extensive and barriers to asset appropriation are high, and in small-scale economies that grow rapidly. In China, there has been no regime change and privatization has been delayed and slow. In the rural economy, elites keep their posts as a source of economic advantage, while low entry barriers to household enterprise and rapid growth have created new entrepreneurial elites. After two decades, rural officials nonetheless enjoy large net income advantages that grow along with the expansion of labor markets and private entrepreneurship. These are not generic outcomes of market reform, but the product of market reform in distinctive political and structural conditions.
  • Topic: Communism, Economics, Government, International Trade and Finance
  • Political Geography: China, Asia
  • Author: Kyounglim Yun, Heejin Lee, So-Hye Lim
  • Publication Date: 09-2002
  • Content Type: Working Paper
  • Institution: Asia-Pacific Research Center
  • Abstract: In recent years, Korea has seen a remarkable diffusion in broadband Internet connections. This paper explores the actions and factors contributing to this diffusion from three viewpoints: public sector, private sector, and social. We suggest that the matching of demand and supply is the most important factor in the fast diffusion of broadband in Korea. In particular, fierce infrastructure competition has led to quality services at a low fixed price. We also consider two challenges that lie ahead: take-up of retail e-commerce applications, and the need to bridge the digital divide.
  • Topic: Economics, International Trade and Finance, Science and Technology
  • Political Geography: Asia, South Korea, Korea
  • Author: Nicole Pole
  • Publication Date: 07-2002
  • Content Type: Working Paper
  • Institution: Asia-Pacific Research Center
  • Abstract: Foreign banks have long faced difficulties in attempting to enter certain Japanese financial markets. This is due partly to regulatory practices and partly to specific Japanese socioeconomic conditions, for instance the system of relationship banking. While retail banking is still a sector in which almost no foreigners have been able to succeed, some foreign financial institutions have been able to gain market share in investment and wholesale banking.
  • Topic: Economics, International Trade and Finance
  • Political Geography: Japan, Israel, East Asia, Asia
  • Author: Rafiq Dossani
  • Publication Date: 03-2002
  • Content Type: Working Paper
  • Institution: Asia-Pacific Research Center
  • Abstract: In recent years, Asian immigrants have played an important role in Silicon Valley's growth, as suppliers of both engineering and entrepreneurial talent. Given their relatively large numbers, the Indian and Chinese communities' contributions have been particularly noted. The Indians' presence became more marked toward the last few years of the century, bolstered by arrivals working on the Year 2000 (Y2K) problem. The Chinese, by contrast, had older roots set down amid long-standing political, economic, and educational links with Taiwan. Both communities have formed extensive ethnic professional networks, with large memberships and well-attended, regular "networking" events, such as monthly meetings and special interest group sessions. The popularity of these events suggests that members find them valuable. While some of the value is probably noneconomic, the avowedly economic mission (see below) and long-term popularity of these gatherings means that most members primarily derive economic benefits. These networks and their members are the subject of this paper. The author acknowledges the collaboration of Professor AnnaLee Saxenian of the University of California, Berkeley, in the design of and data collection for the survey which forms part of this paper. The survey was partially funded by the Public Policy Institute of California.
  • Topic: International Trade and Finance, Science and Technology
  • Political Geography: United States, India, Taiwan, Asia, California, Berkeley
  • Author: Robert Thomas Crow
  • Publication Date: 01-2001
  • Content Type: Working Paper
  • Institution: Asia-Pacific Research Center
  • Abstract: The rate of investment sufficient to provide developing Asia with a reasonably adequate supply of electricity is immense, ranging from a World Bank estimate of 2000 megawatts (MW) each month (which translates into an annual investment of about $35 billion per year) to even higher estimates. All of the larger countries of developing Asia have been looking for foreign direct investment (FDI) to provide a significant amount of the needed capital. In 1996, financial closings for new power projects in developing Asia reached $13.7 billion, or almost 40 percent of the lower range of the estimated requirement. Although data on the foreign share of the monetary value of financial closings is not available, it is likely to be over 80 percent. Thus, the foreign share of total direct investment in power projects in developing Asia appeared to have been around 30 percent before the East Asian currency crisis.
  • Topic: Economics, Energy Policy, International Trade and Finance
  • Political Geography: East Asia, Asia
  • Author: Lawrence J. Lau, K.C. Fung
  • Publication Date: 04-1999
  • Content Type: Working Paper
  • Institution: Asia-Pacific Research Center
  • Abstract: The United States and China have vastly different official estimates of the bilateral trade imbalance. The U.S. figures show that the United States had a merchandise trade deficit of US$57 billion vis-à-vis China in 1998 whereas the Chinese figures show that China had a merchandise trade surplus of only US$21 billion vis-à-vis the United States. There is a difference of US$36 billion. Which set of figures is right?
  • Topic: International Trade and Finance
  • Political Geography: United States, China, Asia
  • Author: C.H. Kwan
  • Publication Date: 12-1998
  • Content Type: Working Paper
  • Institution: Asia-Pacific Research Center
  • Abstract: The currency crisis that started in Thailand in the summer of 1997 was followed by repercussions on the currencies of neighboring countries, culminating in a crisis infecting most countries in East Asia. Japan and China, which have developed strong ties with the rest of Asia through trade and investment, have not been exempted from this contagion. This paper looks at the latest currency crisis in Asia from the perspectives of these two regional giants.
  • Topic: Economics, International Trade and Finance
  • Political Geography: Japan, China, Israel, East Asia, Asia, Thailand
  • Author: Sang-Mok Suh
  • Publication Date: 05-1998
  • Content Type: Working Paper
  • Institution: Asia-Pacific Research Center
  • Abstract: Just like many other crises, the Korean currency crisis came suddenly. In mid–November 1997, headlines in the Korean press consisted mostly of presidential election stories. At that time the presidential race was very close; the Grand National Party candidate, Lee Hoi–Chang, was making a dramatic comeback, while the National Congress for New Politics candidate, Kim Dae–jung, was making his best effort to maintain his narrow lead. Thus, when President Kim Young Sam announced on November 19 his decision to fire key economic policy–makers on the grounds of mismanaging the economy, most Koreans were surprised at the news and questioned the president's motivation. Two days later they were completely shocked to learn that the Korean government was asking the International Monetary Fund (IMF) for emergency standby loans because the Korean foreign reserve level was very low at $7.3 billion and most foreign financial institutions were unwilling to roll over their short–term loans to Korea.
  • Topic: Economics, International Trade and Finance
  • Political Geography: Israel, East Asia, Asia
  • Author: K.C. Fung, Lawrence Lau
  • Publication Date: 05-1997
  • Content Type: Working Paper
  • Institution: Asia-Pacific Research Center
  • Abstract: China's presence in the world economy continues to grow and deepen. The foreign sector of China plays an important and multifaceted role in the country's economic development. At the same time, China's expanded role in the world economy is beneficial to all its trading partners. Regions that trade with China benefit from cheaper and more varied imported consumer goods, raw materials, and intermediate products. China also provides a large and growing export market. While the entry of any major trading nation in the global trading system can create a process of adjustment, the outcome is fundamentally a win-win situation. It is a simple but powerful lesson from economics that freer international trade and investments benefit all parties concerned.
  • Topic: International Relations, International Political Economy, International Trade and Finance
  • Political Geography: China, Asia