Journal of finance and economics
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The aim of this paper is to establish the link between the official announcement of the Saldanha Special Economic Zone (SSEZ) and consequently the gradual concentration of foreign traders and the steady fading of native residential spaza shop owners. This research focus on the existing literature on informal trading in Africa and specifically on micro level. Special prominence is given to the entrepreneurial culture of both the foreign and residential informal traders. Informal trading forms a s...
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The growth of aggregate TFP depends not only on technological progress but also on the optimal allocation of production factors. Hsieh and Klenow(2009)developed a monopolistic competition framework, and found out that there would exist large dispersion of firms’ TFPR when resources could not be reallocated from low-productivity plants to high-productivity plants due to price distortion. Using the data of Chinese manufacturing firms to estimate this model, they found that if the allocation effici...
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As an important component of operating costs, excessive social security contribution reduces the willingness and contribution rate of small- and medium-sized firms. In China, one third of firms do not participate in social security, and the other firms generally have the problem of evasion and arrears. Specifically, Feng (2013) finds that the contribution rate of Chinese industrial firms is uneven, and the average rate is only 10.82%, far lower than the legal rate. How to explain the variation i...
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Under the Chinese government governance model, local governments have an important impact on regional economic development. One of the important manifestations is that local governments prefer to give priority to capital-intensive industries which can bring rapid economic growth through various interventions including administrative approvals. While this change in the regional industrial structure brings “structural dividends”, it may deviate from the regional factor endowment. The resulting ind...
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More than 60% of private listed firms in China have turned into a mixed ownership structure by introducing state-owned shareholders, but so far no research has distinguished whether the private firms rush to the mixed ownership reform (hereafter MOR) to get important resource or to seek protection, about which the discussion will help to clarify the most urgent points of our private economy. We note that the resource hypothesis and the protection hypothesis have different theoretical expectation...
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China has been implementing the reform of interest rate liberalization, which is vital for bank industry. However, the economic growth overall has slowed down and there is considerable economic imbalance between different regions within China. How to relax the cross-regional operations of local banks without causing liquidity issues becomes an important and imminent research topic for both banks and regulators. Regulators have attempted to accommodate policies for cross-regional operations. But ...
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青年“劳动参与率低”和“过度热衷体制内工作”对国家经济发展并非益事。文章基于理论分析与实证检验,探究了父辈住房财富与青年子女劳动参与和就业选择的关系,解释了青年子女劳动及就业选择差异背后的原因。研究发现:父辈住房财富对青年子女的劳动参与率具有显著的负向影响。对参加劳动的青年,父辈住房财富会提升他们选择体制内工作的可能性,并减少其劳动供给时间。通过异质性分析发现,父辈住房财富对女性青年的劳动参与影响更大;同城父辈住房财富影响效应明显更强;区分学历看,父辈房产财富对高学历青年的劳动参与负向影响较小,对非重点高校学历青年选择体制内工作的正向影响更大。最后,机制分析表明,父辈房产主要通过“代际财富传递”和“子女继承期待”两大机制影响青年子女的劳动参与及就业选择。文章的研究对政府坚持“房住不炒”、推动出台房地产税,进而促进社会经济健康发展具有重要启示意义。
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In the past two or three decades, China’s fertility rate has been below the replacement level and declining. The problem of low fertility rate is likely to affect economic vitality, national competitiveness, and the operation of social security system, and even threaten national security. In view of this, the Decision on Optimizing the Fertility Policy to Promote the Long-term Balanced Development of Population puts forward to “further optimize the fertility policy and implement the policy of on...
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