Globalization, Competition and Growth in China

Presentingoriginal work and new thinking on a wide range of important issues,the bookexplores the current state of globalization, competition and growth in China. China has produced an economic miracle since the late 1970s in its transition from a planned to a market economy. This remarkable economic performance was brought about by an open-door policy and gradual integration with the world economy, culminating in China’s admission into the World Trade Organisation in 2001. Studies included in this book focus on issues such as foreign direct investment, international trade, reforms in the financial sector, the development of rural township and village enterprises, the investment strategies of multinational corporations, and economic growth.

Introduction Part1: Financial Sector Reforms 1. Board Structure as Corporate Governance Mechanism: Evidence from China’s Real Estate Stock Companies Ke Qiulin, Jian Chen and David Isaac 2. Financial Sector Reforms and Economic Growth in China Nader Nazmi 3. Efficiency of the Chinese Banking Industry: A Stochastic Production Function Approach Shujie Yao, Chunxia Jiang, Genfu Feng and Dirk Willenbockel 4. Do Chinese Stock Markets Share Common Information Arrival Processes? Philip Kostov, Ziping Wu and Seamus McErlean 5. Impact of Capital Structure on Agency Costs in Chinese Listed Firms Hongxia Li and Liming Cui 6. Stock or Cash Dividends? The Current Dividend Patterns of the Chinese Listed Companies Xiaorong Xue, Jane Zhang and Steven Li Part2: FDI and Globalisation 7. The Economic Impact of China's Emergence as a Major Trading Nation Wing Thye Woo 8. The Impact of FDI on Economic Growth in China's Regions Ping Zheng, Gianluigi Giorgioni and Pamela Siler 9. Exports, FDI, Linkages and Regional Disparities in China Xiaolan Fu 10. Competitive Strategy- Differentiation of Multinational Enterprises in China: Case Study of American, European and Japanese Automobile Enterprises Min Zhao 11. China’s Joint Venture Accounting and Its Impacts on Chinese Accounting Reform Simon Gao, Cordon Guo and Jane Zhang Part3: Economic Development and Policy 12. The Impact of Monetary Variables on the Price Level during Inflation and Deflation Periods in China Huayu Sun and Yue Ma 13. China’s Rural Economy and the Path to a Modern Industrial State Jikun Huang, Keijiro Otsuka and Scott Rozelle 14. Domestic Price Integration and Economic Performance in China Sandra Poncet 15. Unemployment in China: Some Stylised Facts Zhongmin Wu 16. Crossing Which River and Feeding Which Stones? China’s Transition to the ‘New Economy’ Richard Sanders and Yang Chen 17. Chinese TVEs Facing New Challenges: Lessons from a Case Study Ian Cook and Hantang Qi

Shujie Yao is Professor and Chair of Economics at Middlesex University and Special Chair Professor of Xi'an Jiaotong University. He is also Executive Director of the Chinese Economic Association (UK) and an International Consultant Economist (UNDP, FAO, World Bank, EU, UNCDF).Jian Chen is currently Senior Lecturer in Finance at Business School, the University of Greenwich.He received his PhD in Finance from King's College, the University of London. Jian Chen isExecutive Directorof the Chinese Economic Association in the UK (CEA (UK)) and served as President of CEA (UK) during 2003-2004.