CER 2013 June

Highlights

► We mould the economic literature on social instability in China into an argument. ► So providing a fresh view of economic policy and performance through a new lens. ► We argue that this threat lies behind much policy-making in China. ► We examine the economic determinants and likely consequences of social instability.

Highlights

► Prospective applicants in poor, rural China who score high enough to attend colleges have resources to attend. ► However, once they enroll in colleges, are poor children receiving enough financial aid to succeed? ► A randomized controlled trial was conducted among the 200 poorest first-year students in four colleges. ► Referred to the control group, the treatment group received a gold-standard full scholarship for four years of university. ► Poor students can succeed given current levels of financial aid without heavy psychological costs.

Highlights

► Intersectoral econometric models are constructed and compared with non-intersectoral models and spatial econometric models. ► Economic distance is calculated based on intersectoral transaction and Leontief inverse matrix. ► Spatial data and economic data of 36 sectors, 31 provinces in 12 years are applied. ► Input-output linkages have both direct impact and indirect impact across Chinese sectors. ► Intersectoral spillovers have positive effects on productivity, although their magnitudes are negatively correlated with economic distance.

Highlights

► We estimate both the extensive margins and intensive margins of China's imports. ► We distinguish firms into foreign and domestic firms. ► We also distinguish products into final and intermediate goods. ► We estimate gravity equations from the perspective of dynamics. ► Overall, our analysis yields a number of new stylized facts about China's imports.

Highlights

► We study adaptive learning behavior of speculators during renminbi appreciation. ► Empirical evidence of such behavior is examined. ► We establish a model to study policy implications of such behavior. ► A rapid appreciation may attract more capital inflows. ► The central bank may prefer a slow appreciation to discourage capital inflows.