The Capital Iron and Steel Corporation (Shou Gang) is one of the eight major iron and steel companies in China and one of the first state-owned enterprises to be selected as a testing ground for the reform programme, ...The Capital Iron and Steel Corporation (Shou Gang) is one of the eight major iron and steel companies in China and one of the first state-owned enterprises to be selected as a testing ground for the reform programme, since it was authorized to manage its own foreign trade in 1981, the Corporation’s export trade has expanded steadily. Especially since 1992, its development in foreign trade has skyrocketed because China Shou Gang International Trade Construction Company was approved to be set up. In 1993, it exported 239,700 tons of steel. Its foreign exchange income reached US$630 million, of which the Shou Gang’s self-managed exports took up US$96.98 million. During the展开更多
The fast development of the Yangtze River Delta of China is closely related to the dense inflows of FDI. The clustering of the foreign capital in this region has brought new projects, technology and business skills, w...The fast development of the Yangtze River Delta of China is closely related to the dense inflows of FDI. The clustering of the foreign capital in this region has brought new projects, technology and business skills, which have given a strong impetus to the fast development of the regional economy and the upgrading of the economic structure. But the sustainability of FDI and its long-term influence have drawn a lot of attention. It is also a problem whether the slow-down of the FDI inflows or its flight will bring negative effect on the sustainable economic development of the Yangtze River Delta. In this paper, we will prove that the inflows of FDI are stable to some degree. It is unlikely that there will be a drastic large-scale FDI flight, so the so-called ＂migratory bird economy＂ will not occur. But the sustainable economic development in the Yangtze River Delta will depend on the continuity of the policies to attract FDI. What should be done includes the policy to promote the accumulation and circulation of the international capital to promote the sustainable development of the regional economy and market.展开更多
This study looks at how the Belt and Road Initiative(BRI)has affected the economic convergence of the Central Asian Turkic Republics,China,Pakistan,and their major diplomatic partners in the Silk Road region.Using bet...This study looks at how the Belt and Road Initiative(BRI)has affected the economic convergence of the Central Asian Turkic Republics,China,Pakistan,and their major diplomatic partners in the Silk Road region.Using beta and sigma convergence models over a predetermined time frame,the research evaluates economic alignment trends statistically and looks into how trade openness,FDI,and human capital affect the convergence process.The research attempts to discover larger causes of convergence,such as institutional quality and geopolitical closeness,by combining econometric analysis with regional economic dynamics.The purpose of the results is to provide policy suggestions that will improve equitable and sustainable economic convergence inside the Silk Road circle,promoting international cooperation and growth.展开更多
This study investigated the influence of human capital development and technological,strategic,cognitive,and environmental factors on Industry 4.0 readiness,as well as cultural factors acting as a mediator.Respondents...This study investigated the influence of human capital development and technological,strategic,cognitive,and environmental factors on Industry 4.0 readiness,as well as cultural factors acting as a mediator.Respondents were 478 employees from across eight regions in Russia.Survey data were collected on employee technological readiness,human capital development,strategic planning,cognitive perceptions,and environmental and cultural factors influencing the adoption of Industry 4.0 technologies,with cultural factors mediating.These findings from the structure equation analysis show that technological factors and human capital development are the strongest predictors of readiness,suggesting that robust digital infrastructure and a skilled workforce are critical for Industry 4.0 adoption.These findings contribute specifically to the Unified Theory of Acceptance and Use of Technology(UTAUT)by expanding its application to the context of Industry 4.0 adoption.Furthermore,the findings provide practical insights for policymakers and industry leaders,empowering them to enhance technological implementation strategies by identifying areas such as human resource development to improve implementation strategies for Industry 4.0.展开更多
We study the roles of local financial development and foreign direct investment, and more importantly, their interaction with one another, in local capital allocation, based on Chinese industrial and regional data. Ou...We study the roles of local financial development and foreign direct investment, and more importantly, their interaction with one another, in local capital allocation, based on Chinese industrial and regional data. Our main finding is that, although local financial development and FDI each individually tended to improve the efficiency of local capital allocation during the sample period, they tended to compete and crowd out each other＇s effect, so that one impaired the individual function of the other. In particular, there exists a threshold value for local financial development, above which an increase in FDI reduces the efficiency of local capital allocation, rather than improve it. On the other hand, there exists a threshold value for FDI, above which further development in the local financial system lowers the efficiency of local capital allocation, rather than increase it. Our estimations suggest that the levels of FDI and local financial development in some relatively more developed Chinese regions have already surpassed such threshold values. We provide some interpretations of our findings and we discuss potential policy implications.展开更多
The paper analyzes the interaction between the pension system and capital marketdevelopment, especially the case of China. A funded pension system is most likely to boostthe capital market, but in the absence of a sup...The paper analyzes the interaction between the pension system and capital marketdevelopment, especially the case of China. A funded pension system is most likely to boostthe capital market, but in the absence of a supportive financial infrastructure and effectivefinancial regulation, a funded system will not be successful. Chinas determination to establisha partially funded system is a first step in the right direction, but without the separation ofindividual accounts from the social pooling and their replenishment, the working out of theimplicit pension debt, and improvements in pension fund management and regulation, thepension system will not be sustainable. The key to capital market development in the processof the pension reform is to enact laws to protect the interests of pensioners, to contract outpension fund management to professional asset managers, and to accelerate the financialopening.展开更多
文摘The Capital Iron and Steel Corporation (Shou Gang) is one of the eight major iron and steel companies in China and one of the first state-owned enterprises to be selected as a testing ground for the reform programme, since it was authorized to manage its own foreign trade in 1981, the Corporation’s export trade has expanded steadily. Especially since 1992, its development in foreign trade has skyrocketed because China Shou Gang International Trade Construction Company was approved to be set up. In 1993, it exported 239,700 tons of steel. Its foreign exchange income reached US$630 million, of which the Shou Gang’s self-managed exports took up US$96.98 million. During the
文摘The fast development of the Yangtze River Delta of China is closely related to the dense inflows of FDI. The clustering of the foreign capital in this region has brought new projects, technology and business skills, which have given a strong impetus to the fast development of the regional economy and the upgrading of the economic structure. But the sustainability of FDI and its long-term influence have drawn a lot of attention. It is also a problem whether the slow-down of the FDI inflows or its flight will bring negative effect on the sustainable economic development of the Yangtze River Delta. In this paper, we will prove that the inflows of FDI are stable to some degree. It is unlikely that there will be a drastic large-scale FDI flight, so the so-called ＂migratory bird economy＂ will not occur. But the sustainable economic development in the Yangtze River Delta will depend on the continuity of the policies to attract FDI. What should be done includes the policy to promote the accumulation and circulation of the international capital to promote the sustainable development of the regional economy and market.
文摘This study looks at how the Belt and Road Initiative(BRI)has affected the economic convergence of the Central Asian Turkic Republics,China,Pakistan,and their major diplomatic partners in the Silk Road region.Using beta and sigma convergence models over a predetermined time frame,the research evaluates economic alignment trends statistically and looks into how trade openness,FDI,and human capital affect the convergence process.The research attempts to discover larger causes of convergence,such as institutional quality and geopolitical closeness,by combining econometric analysis with regional economic dynamics.The purpose of the results is to provide policy suggestions that will improve equitable and sustainable economic convergence inside the Silk Road circle,promoting international cooperation and growth.
文摘This study investigated the influence of human capital development and technological,strategic,cognitive,and environmental factors on Industry 4.0 readiness,as well as cultural factors acting as a mediator.Respondents were 478 employees from across eight regions in Russia.Survey data were collected on employee technological readiness,human capital development,strategic planning,cognitive perceptions,and environmental and cultural factors influencing the adoption of Industry 4.0 technologies,with cultural factors mediating.These findings from the structure equation analysis show that technological factors and human capital development are the strongest predictors of readiness,suggesting that robust digital infrastructure and a skilled workforce are critical for Industry 4.0 adoption.These findings contribute specifically to the Unified Theory of Acceptance and Use of Technology(UTAUT)by expanding its application to the context of Industry 4.0 adoption.Furthermore,the findings provide practical insights for policymakers and industry leaders,empowering them to enhance technological implementation strategies by identifying areas such as human resource development to improve implementation strategies for Industry 4.0.
文摘We study the roles of local financial development and foreign direct investment, and more importantly, their interaction with one another, in local capital allocation, based on Chinese industrial and regional data. Our main finding is that, although local financial development and FDI each individually tended to improve the efficiency of local capital allocation during the sample period, they tended to compete and crowd out each other＇s effect, so that one impaired the individual function of the other. In particular, there exists a threshold value for local financial development, above which an increase in FDI reduces the efficiency of local capital allocation, rather than improve it. On the other hand, there exists a threshold value for FDI, above which further development in the local financial system lowers the efficiency of local capital allocation, rather than increase it. Our estimations suggest that the levels of FDI and local financial development in some relatively more developed Chinese regions have already surpassed such threshold values. We provide some interpretations of our findings and we discuss potential policy implications.
文摘The paper analyzes the interaction between the pension system and capital marketdevelopment, especially the case of China. A funded pension system is most likely to boostthe capital market, but in the absence of a supportive financial infrastructure and effectivefinancial regulation, a funded system will not be successful. Chinas determination to establisha partially funded system is a first step in the right direction, but without the separation ofindividual accounts from the social pooling and their replenishment, the working out of theimplicit pension debt, and improvements in pension fund management and regulation, thepension system will not be sustainable. The key to capital market development in the processof the pension reform is to enact laws to protect the interests of pensioners, to contract outpension fund management to professional asset managers, and to accelerate the financialopening.
