We show that the information asymmetry can cause an externality distortion in human capital investment. China europe international business school, shanghai, china. Human capital investment under asymmetric information. Results derived are quite different from, or unexplored by, the standard human capital theory.
A behavioral model based on the chinese experience. The journal is distributed by brill to customers outside china. The pennsylvania state university, 2012 to 2017 ph. How do variations in ulp affect specific human capital shc investment, wage, and labor turnover. Books yijiang wang, 2007, state and economy, peking university press, beijing, china. Organized a research trip to russia from july 22, 2003. A theory of the softbudget constraint boston college working papers in economics, boston college department of economics view citations 3 1994.
Budd, wei chi, yijiang wang and qianyun xie university of minnesota twin cities carlson school of management, tsinghua university school of economics and management, cheung kong graduate school of business and university of minnesota twin cities department of human resources and industrial relations. Financial econometrics routledge advanced texts in economics and finance kindle edition by peijie wang. Dual class shares, dual class stock, agency costs, conflicts of interest, voting rights and cash flow rights divergence, acquisitions, announcement effects, empire building, executive compensation, ceo compensation, value of cash holdings, capital expenditures. It is destined to be valued by scholars, students, and researchers as a vital research resource. We discuss if and to what extent these findings are.
The repec blog the repec plagiarism page details about yijiang wang. Peter murrell econ l department of economics l university. Economic reform in modern china is supplemented with a full index and includes a comprehensive introduction, newly written by the editor, which places the collected material in its historical and intellectual context. Economic reform in modern china 1st edition wei zhang. Specific human capital investment and turnover under uncertainty. Budd, wei chi, yijiang wang, and qianyun xie 2014 what do unions. He has authored numerous research articles in economics and management.
The delegates held roundtable discussions with distinguished scholars from the institute of far east studies and the institute of economics at russian academy of sciences, moscow university, and international financial institutions. Download statically indeterminate structures by chukia wang the text material and the illustrations have been prepared to serve mainly as a workbook to assimilate the basic principles and methods in the analysis of statically. Reverse nested lottery contests with qiang fu and jingfeng lu. Introduction to empirical economics, methods of empirical research education. Tenth world congress, cambridge university press, 20. Add this site to favorites if you need free pdf documents, ebooks,users guide, manuals,notices and sheets online. Dekel, editors, advances in economics and econometrics. The ces will publish a book on russian economic reforms. Essays in the economic theory of social networks university of british columbia, 2011 to 2012 m. Professor of economics and human resource management. Resolving nonperform asserts, jointstock reconstruction and the strategy of introducing foreign capital,with yijiang wang economic research journal, 11 2004. Cheung kong graduate school of business, beijing, china. Ray, debraj, development economics, princeton university press, princeton. This article investigates how human capital investment, labor turnover, and wages are jointly determined when the current employer knows more about a workers productivity than potential employers.
Utilizing provinciallevel data from the period of 19942008, this article studies the relationship between union density and wages, employment, productivity, and economic output in china. Yijiang wang, 1991, economic reform, fixed capital investment expansion, and inflation. From exchange rates to fiscal policy, chinese reforms have developed gradually to transform the country from one dominated by the states centralplanning apparatus to. A model of chinas state capitalism, 20 meeting papers 853, society for economic dynamics. It will consist of two essays chosen out of five topics relevant to assigned literature. Chang,chun professor of finance, executive director, saif. Financial econometrics routledge advanced texts in economics and finance wang, peijie on. The book is designed to integrate the theory of foreign exchange rate determi tion and the practice of global finance in a single volume, which demonstrates how theory guides practice, and practice motivates theory, in this important area of scholarly work and commercial operation in an era when the global market has become increasingly integrated. Changing corporate governance practices in china and japan. Lester prize for the outstanding book in labor economics and industrial relations published in 2004, from princeton university.
Theory and evidence from china and indias fdi, 2009 meeting papers 354, society for economic dynamics. Yu, journal of financial economics 88, 117145, 2008. We are grateful to chongen bai, john bonin, and yijiang wang for comments and suggestions on earlier drafts of the paper. Chun chang and yijiang wang, 1997, some empirical implications of a model of human capital investment under asymmetric information. Insecure property rights and government ownership of firms. Pdf human capital in a global and knowledgebased economy. Pdf this book provides an essential toolkit for all students wishing to know more about the modelling and analysis of financial data. Uncertainty in labor productivity ulp is affected by many factors, such as worker. Zheng wang ideasrepec research papers in economics. This book includes the abstracts of all the papers presented. The nature of townshipvillage enterprises coauthored with yijiang wang, journal of comparative economics 19, 434452, 1994.
China initiated its marketoriented economic reform in 1978. Social sciences academic press china chinas 40 years of reform and development 19782018 edited by ross garnaut, ligang song and cai fang. Roland, gerard 1994 on the speed and sequencing of privatization and restructuring, economic journal, 104. A framework for understanding differences in employment stability and human capital investment coauthored with yijiang wang, journal of economic behavior and organization, 28, 91105, 1995. Pdf statically indeterminate structures by chukia wang. Before joining the cuhk shenzhen, i worked as senior research economist and advisor at the federal reserve bank of dallas from 2006 to 2016. From exchange rates to fiscal policy, chinese reforms have developed gradually to transform the country from one. Further reproduction prohibited without permission. Corporate governance practices in postbubble japan. Lester prize for the outstanding book in labor economics and industrial relations. The nature of townshipvillage enterprises coauthored with yijiang wang, journal of comparative economics. This cited by count includes citations to the following articles in scholar.
When effective incometax rates are very uneven, as common in developing countries, raising some government revenue through mild financial repression can be more efficient than collecting income tax only. Oxford university press, new delhi referred to as ray here the book is available from shakespeare and co. Journal of comparative economics vol 26, issue 1, pages. Introduction with janos kornai, chapter 1 in janos kornai and yingyi qian, editors, market and socialism. Financial econometrics routledge advanced texts in economics and finance. Financial repression and optimal taxation semantic. The author looks at how corpor ate governance practices in. Gollan, and adrian wilkinson, guest ed2010 special issue. Its primary concern is how a nation such as china can defeat a technologically superior opponent such as the united states through a variety of means. Rainer przywara, president, cooperative university badenwurttemberg heidenheim, germany. Boston college working papers in economics, boston college department of economics view citations 1 1995.
Yingyi qian school of economics and management phone. The effect of communist legacies on organizational and institutional reforms, journal of comparative economics 17 2. Gerhard speckbacher, professor, wu vienna university of economics and business, austria. Journal of asian economics vol 20, issue 4, pages 353506. He is a heterodox economist with the primary fields of political economy of china and east asia, money and banking, and ecological economics. Wu vienna university of economics and business, austria.
In the 1990s, the chinese state reversed many of its rural experiments, with longlasting damage to the economy and society. Download the understanding the publishing process pdf. This paper studies the soft budget constraint problem in a principalagent model. Littauer center 1805 cambridge street cambridge, ma 028 phone 617 4952144 fax 617 4957730. Candidates are evaluated based on their research records and their capacity to contribute to the nbers activities by program directors and steering committees. Grabbing hand and corporate governance in chinawei chi and yijiang wang. Hare and junior davis, the transition to a market economy, routledge, 1997. The final paper 35% should focus on a concrete issue in a specific country or on a crosscutting topic related to the transition agenda. Use features like bookmarks, note taking and highlighting while reading financial econometrics routledge advanced texts in economics and finance. America is the greatest engine of innovation that has ever existed, and it cant be duplicated anytime soon, because it is the product of a multitude of factors.
Uncertainty in labor productivity and specific human. Yijiang wang is professor at the industrial relations center, carlson school of management, university of minnesota, minneapolis, and specialterm professor at the department of economics, tsinghua university, beijing anming zhang is authority professor in air transportation, sauder school of business, university of british columbia, vancouver. The economics of foreign exchange and global finance peijie. Corporate governance and employment relations in japan and the united states, journal of socioeconomics, vol. Cheung kong graduate school of business, more information at edirc access statistics for papers by yijiang wang.
Journal of comparative economics vol 26, issue 1, pages 1. Vincent is also a national level ii table tennis athlete of china. Yijiang wang and fanmin kong, 1998, human resource management in modern. Not surprisingly, ulp varies across firms, industries, and economies. The earnings of university faculty in health administration. Drug advertising inspections and intranational protectionism in china, cesifo working paper series 4682, cesifo group munich. Pdf books planet download free digital books in pdf. The grabbing hand and corporate governance in china. Frontiers of economics in china fecc is a fully refereed englishlanguage academic journal published in four issues annually by higher education press that aims to publish stateoftheart researches in economics. Implications of an intertemporal capiral asset pricing model, with a. The quarterly journal of economics, volume 1, issue 2, may 1998, pages 467496. A weak financial sector, income disparity, rising illiteracy, productivity slowdowns, and reduced personal income growth are the product of the capitalism with chinese characteristics of the 1990s and beyond. Insecure property rights and government ownership of firms jiahua che department of economics university of notre dame and yingyi qian department of economics stanford university abstract.
Budd, wei chi, yijiang wang, and qianyun xie 2014 what. Murrell, peter, and yijang wang 1993 when privatization should be delayed. Oliver hart, dilip mookherjee, andrei shleifer, yijiang wang, and three referees for helpful comments and discussions. Financial econometrics routledge advanced texts in economics. Fiscal decentralization, endogenous policies and technology adoption. The agent screens projects of and makes initial investment in the projects that have passed the screening.
I received my phd in economics from the university of new south wales in 2012, under the supervision of hodaka morita and carlos pimienta, and worked in the department of economics at the university of mannheim from 2012 to 2017. Nber researchers new nber affiliates are appointed through a highly competitive process that begins with a call for nominations in january. How does chinas reform limit government predation without reducing its revenue. Yijiang wang, professor of economics and human resource management, cheung kong graduate school of business beijing, china. He then finds the types of the funded projects and decides to close some of the ex post inefficient ones among them. Unpublished paper, department of economics, university of michigan, ann arbor. Closing projects sends an unfavorable signal about the agents screening effort. Adaptations of angloamerican practices masao nakamura edited by. Chinese academy of social sciences institute of population and labor economics, beijing, china. The following book will be the basic textbook for this course.
Yijiang wang, and three referees for helpful comments and discussions. Financial repression entails an implicit taxation on savings. It is destined to be valued by scholars, students, and researchers as a. By linking product market factors to job design, this paper provides an explanation to the puzzling question of why firms under rather similar labor market conditions sometimes adopt homogeneous, but other times heterogeneous, job designs. The findings indicate that union density does not affect average wage levels, but is positively associated with aggregate productivity and output. This book is printed on paper suitable for recycling and made from. In the light of the experiences of china and vietnam, palgrave macmillan, 2008. Download it once and read it on your kindle device, pc, phones or tablets. Capitalism with chinese characteristics by yasheng huang.
Gollan, and adrian wilkinson, guest editors 2010 special issue. Jian wang i am assistant dean academic and associate professor of economics of the school of management and economics at the chinese university of hong kong shenzhen. Chinas macroeconomic policy is a key collection of articles that showcase how economic policies have changedand are changing stillin the worlds second largest economy, in a way that will affect the global economy. Download free digital books in pdf, epub and mobi formats. Citescore values are based on citation counts in a given year e. How to fight the assault on labor rights, working usa, vol. Articles in books perspectives on chinas economic growth, in daron acemoglu, manuel arellano and eddie.
1413 1402 1277 279 1256 1085 1171 381 903 421 1164 1611 1029 368 1064 1007 930 1167 141 613 1392 803 251 526 571 1172 111 1616 1172 1222 1355 804 608 415 154 1466 34 1064 724 574 583 954 1221 500 1005 440