Review of Development Economics
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Decomposition of Productivity Considering Multi‐environmental Pollutants in <scp>C</scp>hinese Industrial Sector Abstract The objective of this study is to calculate and decompose productivity incorporating multi‐environmental pollutants in C hinese industrial sectors from 1992 to 2008. We apply a weighted Russell directional distance model to calculate productivity from both the economic and environmental performance. The main findings are: (1) C hinese industrial sectors increased productivity, with the main contributing factors being labor saving prior to 2000; (2) The main contributing factors for productivity growth in coastal areas include both economic and environmental performance improvement. While central and western regions improved productivity owing to economic development, they have a trade‐off relationship between economic and environmental performance.
Review of Development Economics - Tập 19 Số 1 - Trang 75-84 - 2015
The East Asian Dollar Standard, Fear of Floating, and Original Sin Abstract Before the crisis of 1997/98, the East Asian economies—except for Japan but including China—pegged their currencies to the US dollar. To avoid further turmoil, the IMF argues that these currencies should float more freely. However, the authors’ econometric estimations show that the dollar's predominant weight in East Asian currency baskets has returned to its pre‐crisis levels. By 2002, the day‐to‐day volatility of each country's exchange rate against the dollar had again become negligible. Most governments were rapidly accumulating a “war chest” of official dollar reserves, which portends that this exchange rate stabilization will come to extend over months or quarters. From the doctrine of “original sin” applied to emerging‐market economies, the authors argue that this fear of floating is entirely rational from the perspective of each individual country. And their joint pegging to the dollar benefits the East Asian dollar bloc as a whole, although Japan remains an important outlier.
Review of Development Economics - Tập 8 Số 3 - Trang 331-360 - 2004
Empirical investigation of the agriculture–malnutrition nexus in Africa: Spatial clustering and spillover effects Abstract Many studies have been conducted to examine the direct effect of agriculture on the prevalence of malnutrition; however, there is little solid evidence on spatial spillover effects and much less on the heterogeneous effects stemming from spatial differences in nutritional conditions. We make up this gap by using a dynamic spatial Durbin model to characterize the impact of agricultural productivity on malnutrition in Africa. Our results show that countries in Eastern Africa are more likely to suffer from severe malnutrition than other regions. We find evidence for convergence in agricultural productivity across countries with moderate and high prevalence of malnutrition as disparities in their agricultural productivity narrow down over the sample period. It appears that the negative effect of agriculture on malnutrition is more evident in countries where the prevalence of malnutrition is lower. This implies that agricultural development does not play a substantial role in reducing malnutrition in the worst affected areas. We also report that poor agricultural development can deteriorate the nutritional status among neighboring countries in the short term, consistent with the spatial‐locking effect of agriculture.
Review of Development Economics - Tập 27 Số 2 - Trang 685-709 - 2023
The persistence of inequality across Indian states: A time series approach Abstract There is a growing literature on the importance of persistent regional inequalities in developing countries, with evidence that the lack of convergence in incomes across regions is associated with a rise in conflict and social unrest. However, there is a relative paucity of literature on the stochastic characteristics of gross domestic product at the sub‐national level. In this paper we identify new stochastic properties of Indian states' gross domestic product between 1960 and 2019 using a fractional stochastic convergence approach. We test for fractional stochastic convergence in relative incomes in order to identify high persistence and mean reversion. Interval estimates of the largest autoregressive coefficient for the relative incomes of Indian states are wide, thus including many alternatives that are persistent. Interval estimates of the half‐life of relative income shocks suggest that in several cases shocks die out within 0–10 years. Finally, we estimate a fractionally integrated model and obtain mixed evidence of mean reversion and non‐stationarity, with six out of 16 states experiencing mean reversion. These results are highly encouraging and contradict earlier studies which show long‐term divergence and polarization of regional incomes across Indian states, and are thus of great relevance to policy‐makers.
Review of Development Economics - Tập 25 Số 3 - Trang 1150-1171 - 2021
Foreign Direct Investment and Economic Growth: Theory and Application to China The paper investigates the relationship between foreign direct investment and economic growth. A model of endogenous growth first highlights the transfer of foreign technology as a key determinant of economic growth, and suggests that economic growth may conversely influence the inflows of foreign capital. Simultaneous‐equation model estimation based on a sample of 24 Chinese provinces, from 1985 to 1996, confirms the fundamental role played by foreign investment in provincial economic growth in China, and stresses the importance of potential growth in foreign investment decisions.
Review of Development Economics - Tập 4 Số 2 - Trang 140-155 - 2000
FDI Flows to Latin America, East and Southeast Asia, and China: Substitutes or Complements? Abstract Is China diverting foreign direct investment (FDI) from other developing countries? Theoretically, a growing China augments other countries' FDI by creating more production networking and raising demand for resources . However, low Chinese costs lure multinationals away from other production sites. Here we explore this issue empirically. We focus on East and Southeast Asia and Latin America for 1985–2002. We control for the standard determinants of inward FDI, then add China FDI to represent the “China Effect.” We found that China's FDI is positively related to FDI in Asia, while the China Effect is insignificant for Latin America. Also the China Effect is generally not the most important determinant of other countries' FDI. Market sizes and policies such as corporate tax rates and openness tend to be more important.
Review of Development Economics - Tập 14 Số 3 - Trang 533-546 - 2010
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