In Search of New Sources of Growth: What China Should Do Next?

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The 28th Annual Conference of the Chinese Economics Society Australia (CESA)

In Search of New Sources of Growth: What

China Should Do Next?

James Cook University, Cairns Campus

Cairns, Australia, 17-19 July 2016

Organized by: Chinese Economics Society Australia

College of Business Law and Governance, Division of Tropical Environments and Societies, James Cook University

The Cairns Institute, James Cook University

With support from: Advance Cairns

Australian Trade Commission (Austrade)

Cairns Chamber of Commerce

China Update, Australian National University

The Education Office of Chinese Embassy in Australia

Tourism Tropical North Queensland

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Local Organising Committee:

Dr Hongbo Liu, James Cook University

Prof Stewart Lockie, James Cook University

Prof David Low, James Cook University

Ms Janie Edwards, James Cook University

Ms Jennifer McHugh, James Cook University

Prof Philip Pearce, James Cook University

Prof Natalie Stoeckl, James Cook University

Dr Sizhong Sun, James Cook University

Prof Zhangyue Zhou, James Cook University

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Contents Introduction of CESA ............................................................................................................................... 5

Introduction of College of Business, Law and Governance .................................................................... 6

Introduction of the Cairns Institute ........................................................................................................ 7

Information for Participants ................................................................................................................... 8

Conference Program Outline .................................................................................................................. 9

Keynote Speakers .................................................................................................................................. 12

Tourism Forum Speakers ...................................................................................................................... 12

Policy Forum Speakers .......................................................................................................................... 13

Concurrent Sessions .............................................................................................................................. 14

List of Conference Participants ............................................................................................................. 25

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Introduction of CESA The Chinese Economics Society Australia (CESA) is a non-profit and non-partisan organization, which

aims at promoting research and exchange activities related to the Chinese economy. More

specifically, its objectives are to:

Encourage and stimulate constructive inquiries, exchange and discussion on China’s growth

and development;

Promote and disseminate research work related to China’s economy and business

development; and

Provide a venue for post-graduate students to present and discuss their work.

CESA strives to become a leading research network of the Chinese economy in the Asia Pacific region.

It maintains close relationships with other professional associations that have similar objectives.

The Society was initiated as the Association for Chinese Economic Studies, Australia (ACESA) in 1987

at the Australian National University in Canberra under the leadership of Dr Yongzheng Yang and Dr

Shujuan Lin, with the support of enthusiastic scholars specialising in the Chinese economy including

Chunlai Chen, Enjiang Cheng, Ross Garnaut, Jane Golley, Yiping Huang, Ligang Song, Guanghua Wan,

Mei Wen, Harry Wu, Yanrui Wu, Xiaoguang Zhang and Zhangyue Zhou.

The Society is run by the Executive Committee within the general policy guidelines set by the Council

of Management and the Constitution. The current Executive Committee members are: Dr Sizhong

Sun, President (James Cook University); Dr Annie Wei, Secretary (Australian National University) and

Dr James Cheong, Treasurer (Hang Seng Management College).

The Society is physically hosted at:

China Economy Program, Crawford School of Public Policy,

Australian National University

JG Crawford Bldg, Acton ACT 2601, Australia

CESA’s annual conference rotates amongst its member universities in Australia, attracting delegates

from around the world. A number of conference proceedings and publications have been generated

from contributions to the conferences.

CESA maintains an official website (http://www.ces-aus.org/) and an emailing list

([email protected]), which are available for use by all members.

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Introduction of College of Business, Law

and Governance The College of Business, Law and Governance (CBLG) is part of the Division of Tropical Environments

and Societies and delivers a range of courses in Cairns, Singapore, Townsville and Brisbane*. It is led

by the Dean, Professor David Low, and promotes, fosters, supports and administers quality teaching

and research across four key areas:

Law

Business

Information Technology

Conflict Management and Resolution

Formed in 2014 to provide new opportunities and collaborations for both education and research, a

primary focus of the College is ethics, sustainability and governance, as well as an understanding of

complex business systems. The courses offered by the College equip future leaders with life-long

skills that have practical applications in the workplace, and are designed with a variety of options to

facilitate lifestyle and work commitments, whether it be studying online or on campus, or on a full or

part time basis.

The College’s multi-campus locations and world-class academics bring an international perspective

to its teaching and research. Leading-edge postgraduate study areas reflect global industry needs

and include international business, sustainable practice, creativity and innovation, political science,

and information technology.

More details of CBLG can be found at: https://www.jcu.edu.au/college-of-business-law-and-

governance.

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Introduction of the Cairns Institute Around half of the world’s population—some three billion people—and 80 per cent of the planet’s

animal and plant species live in the tropics. From economic and educational deprivation to disease,

loss of culture and the impacts of climate change, the social, economic and environmental

challenges facing the tropical zones of northern Australia and the world are immense.

The Cairns Institute’s location in tropical North Queensland and close proximity to neighbouring

countries in the Pacific and Southeast Asia places it at the epicentre of economic, environmental and

cultural change. In this most dynamic of regions, the Institute is committed to understanding and

informing the critical processes of transformation that will shape communities’ and environments’

future wellbeing.

Bringing together the expertise and intellectual resources of more than 20 disciplines in the

humanities and social sciences, The Cairns Institute is a uniquely robust and vibrant hub of research,

capacity building and public debate in the tropics, for the tropics.

The Cairns Institute welcomes national and international scholars, policy specialists, consultants and

trainees, providing facilities and infrastructure for excellence and innovation.

The Institute offers:

Pure and applied research

Consulting and contract research

Research training

Professional development

Conferences and seminars

Education and scholarship

More details of the Cairns Institute can be found at: http://www.cairnsinstitute.jcu.edu.au/.

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Information for Participants Cairns Taxi:

http://www.cairnstaxis.com.au/

Phone: 131008

Policelink:

https://www.police.qld.gov.au/programs/policelink/

If a crime is happening, call Triple Zero (000)

If not, you can call Policelink at 131 444

Parking:

Free parking is available at the Cairns Institute:

Tourism:

Tourism Tropical North Queensland: http://www.ttnq.org.au/

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Conference Program Outline

17-19 July 2016, James Cook University, Cairns, Australia

17 July (Sunday)

16:00 - 17:00 Conference Registration Rydges Tradewinds Cairns

17:00 - 18:00 Welcome Reception Rydges Tradewinds Cairns

18 July (Monday)

08:00 - 08:30 Conference Registration Foyer, The Cairns Institute

08:30 - 09:10 Opening Ceremony Lecture Theatre, The Cairns Institute

Welcome by Traditional owner Robyn McGuiggan, Deputy Vice Chancellor and Professor, Division of Global Strategy and Engagement, James Cook University The Honourable Curtis Pitt MP, Treasurer, Queensland Government Xu Xiao, Minister Counsellor, Education Office of Chinese Embassy in Australia Sizhong Sun, President of Chinese Economics Society Australia Chair: David Low, Dean and Professor, College of Business, Law and Governance, Division of Tropical Environments and Societies, James Cook University

09:10 - 10:00 Keynote Address 1 Lecture Theatre, The Cairns Institute

Luigi Pistaferri, Professor of Economics, Stanford University Consumption Inequality Introduced by: Sizhong Sun, President of CESA

10:00 - 10:15 Photo Session The Cairns Institute

10:15 - 10:30 Morning Tea Foyer, The Cairns Institute

10:30 - 12:00 Concurrent Sessions

Concurrent session 1 D3:063




12:00 - 13:00 Networking Lunch Foyer, The Cairns Institute






14:30 - 14:45 Afternoon Tea Foyer, The Cairns Institute






16:15 - 16:25 CESA Annual General Meeting Lecture Theatre, The Cairns Institute

Election of the CESA Executive Committee Announcement of the 29th CESA Annual Conference

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16:25 - 17:15 Keynote Address 2 Lecture Theatre

Wing Thye Woo, Professor of Economics, University of California, Davis The Necessary Demand-Side Supplement to China’s Supply-Side Structural Reform: Termination of the Soft Budget Constraint Introduced by: Yanrui Wu, Professor, University of Western Australia

18:30 - 20:30 Conference Dinner Rydges Tradewinds Cairns

In-dinner speech: Dr Bing Zhao, Managing Director of BAZO Capital Advisor Ltd. Announcement of best paper awards for PhD students: Xu Xiao, Minister Counsellor, Education Office of Chinese Embassy in Australia Master of Ceremony: TBC

19 July (Tuesday)

09:00 - 09:50 Keynote Address 3 Lecture Theatre, The Cairns Institute

Hanming Fang, Professor of Economics, University of Pennsylvania Political Factions, Local Accountability and Economic Performance: Evidence from Fujian Province Introduced by: Hongbo Liu, Senior Lecturer, College of Business, Law and Governance, Division of Tropical Environments and Societies, James Cook University

09:50 - 10:00 CAER Information Session Lecture Theatre, The Cairns Institute

Baozhong Su, Associate Professor, Editorial Coordinator, China Agricultural Economic Review

10:00 - 10:15 Morning Tea Foyer, The Cairns Institute






11:45 - 13:00 Networking Lunch Foyer, The Cairns Institute






13:00 - 15:00 Tourism Forum Lecture Theatre, The Cairns Institute

Speakers: George Y Chen, Principal Analyst and Manager of National Tourism Forecasts, Tourism Research Australia, Austrade Songshan (Sam) Huang, Associate Professor in Tourism Management, the University of South Australia Philip L. Pearce, Foundation Professor of Tourism and Distinguished Professor, James Cook University Chair: Philip L. Pearce, Foundation Professor of Tourism and Distinguished Professor, JCU

15:00 - 15:30 Afternoon Tea Foyer, The Cairns Institute

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15:30 - 17:30 Policy Forum Lecture Theatre, The Cairns Institute

Speakers: Fuqian Fang, Professor of Economics, Renmin University of China Iain Gordon, Deputy Vice-Chancellor and Professor, Division of Tropical Environment and Societies, James Cook University Steven Kates, Associate Professor of Economics, RMIT University Chris Legg, Chief Adviser in the Macroeconomic Group, The Treasury Jammie Penm, Chief Commodity Analyst and Assistant Secretary, Agricultural Commodities and Trade Branch, Australian Bureau of Agricultural and Resource Economics and Sciences Wing Thye Woo, Professor of Economics, UC Davis Chair: Iain Gordon, DVC and Professor, DTES, JCU

17:30 - 17:35 Closing Session Lecture Theatre, The Cairns Institute

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Keynote Speakers

Hanming Fang

Luigi Pistaferri

Wing Thye Woo

Hanming Fang is Class of 1965 Term Professor of Economics at the University of Pennsylvania and a Research Associate at the National Bureau of Economic Research (NBER) where he is currently also the Acting Director of its Chinese Economy Working Group. Holding a PhD in Economics from the University of Pennsylvania in 2000, Professor Fang is an applied microeconomist with broad theoretical and empirical interests focusing on public economics. He has served as associate editor or co-editor for numerous journals in economics, and currently serves as a co-editor of the International Economic Review.

Luigi Pistaferri is a Professor of Economics

at Stanford University, a research fellow of

NBER, CEPR and IZA, the "Ralph Landau"

Senior Fellow at SIEPR, and one of the co-

editors of the American Economic Review.

His papers are on the intersection between

labour economics and macroeconomics.

Pistaferri holds a PhD in Economics from

University College, London, and a Doctorate

in Economic Sciences from IUN in Naples

(Italy), where he was born in 1968. Pistaferri

joined Stanford University in 1999 after

finishing his PhD and has been a member of

the faculty ever since, with the exception of

one year sabbatical spent at EIEF in Rome.

Wing Thye Woo is Professor at the

University of California at Davis. He also

plays a key role in several other institutions

such as the Jeffrey Cheah Institute on

Southeast Asia in Kuala Lumpur, the East

Asian Program at Columbia University. His

current research focuses on

macroeconomic management of open

economies and on China’s growth

challenges. Prof Woo has also served many

other key roles at various national and

international bodies such as special advisors

to the U.S. Treasury, the United Nations, the

Prime Minister of Malaysia. Currently he is

the President of the US Chinese Economists

Society.

Tourism Forum Speakers

George Y Chen

Songshan (Sam) Huang

Philip L. Pearce

Dr George Y Chen is Principal Analyst and Manager of National Tourism Forecasts, Tourism Research Australia (TRA), Austrade. His team produces forecasts on Australia’s inbound, outbound and domestic tourism. Prior to the current role, he worked as an economist and policy adviser across various Australian Government departments including the Department of Industry and the Treasury. Before coming to Australia, he was a research economist at the Chinese Ministry of Foreign Trade and Economic Cooperation in Beijing.

Dr Songshan (Sam) Huang is Associate

Professor in Tourism Management at the

University of South Australia. His research

focuses on tourism and hospitality and

China-Australia business and trade

relations, including tourist behaviour,

destination marketing, tour guiding and

interpretation, and Chinese outbound

tourism to Australia. He has recently

completed a book on Tourism in China

(2015) with Channel View Press in Bristol,

UK.

Professor Philip L. Pearce is the Foundation

Professor of Tourism and a Distinguished

Professor at James Cook University. His

research interests are new tourism markets

and the behaviour of tourists. He has spent

considerable time in Asia and especially

China as a Visiting Professor at Zhejiang

University in Hangzhou. He has completed

numerous studies on Chinese outbound

tourists and has recently finished co-editing

a book The World Meets Asian Tourists.

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Policy Forum Speakers

Fuqian Fang

Iain Gordon

Chris Legg

Fuqian Fang is Professor of Economics at

the School of Economics, Renmin University

of China. Currently he is the Vice President

of the China Research Association of

Foreign Economic Theories,

President of the Beijing Research

Association of Foreign Economic Theories.

His main research interest is on

macroeconomic theory and policy. He is the

Chief Editor of Economic Theory and

Business Management.

Iain Gordon is Professor and the Deputy

Vice-Chancellor, Division of Tropical

Environments and Societies at James Cook

University (JCU). He has a genuine passion

and commitment for sustainable

development. Prior to JCU, he led the

James Hutton Institute (Scotland), focusing

on evidence based solutions for the use of

land for agriculture whilst maintaining

natural resources and ecosystems. He

worked with CSIRO from 2003 – 2010,

where he led the Davies Laboratory and

helped establish the Australian Tropical

Science Innovation Precinct (ATSIP) at JCU

in Townsville. Professor Gordon has also

been working on issues concerning

sustainable development in China.

Chris Legg is Treasury’s Chief Adviser

responsible for monitoring developments in

China and their implications for Australia.

He represents Australia, New Zealand,

Singapore and Vietnam on the Board of

Asian Infrastructure Investment Bank. He

has had extensive experience in the

Treasury and at ONA, the World Bank and

the IMF on international economics, foreign

investment, the financial system, national

security, and infrastructure. In 2014, the DC

based Woodrow Wilson Center for Public

Scholars published his book, International

Cooperation in a Time of Transition: The

IMF, G20 and the Global Financial Crisis.

Steven Kates

Jammie Penm

Wing Thye Woo

Steven Kates is Associate Professor of

Economics at RMIT University in

Melbourne. Most of his career was,

however, spent as the Chief Economist of

Australia’s national employers’ association.

His major interest is in the classical theory

of the cycle. His Free Market Economics is

John Stuart Mill’s 1848 Principles of Political

Economy re-written for the twenty-first

century.

Jammie Penm is Chief Commodity Analyst

and Assistant Secretary, Agricultural

Commodities and Trade Branch at

Australian Bureau of Agricultural and

Resource Economics and Sciences

(ABARES). His professional expertise and

achievements revolve around commodity

analysis and economic research important

to Australia’s primary industries. He has

been on numerous trips to China over the

past years, contributing to the conclusion of

the Australia-China Free Trade Agreement.

Before joining the ABARES, Jammie worked

at former Industries Assistance

Commission. He has a PhD in econometrics

from the Australian National University.

Wing Thye Woo is Professor at the

University of California at Davis. He also

plays a key role in several other institutions

such as the Jeffrey Cheah Institute on

Southeast Asia in Kuala Lumpur, the East

Asian Program at Columbia University. His

current research focuses on

macroeconomic management of open

economies and on China’s growth

challenges. Prof Woo has also served many

other key roles at various national and

international bodies such as special

advisors to the U.S. Treasury, the United

Nations, the Prime Minister of Malaysia.

Currently he is the President of the US

Chinese Economists Society.

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Concurrent Sessions 15 minutes for each speaker followed by 5 minutes’ discussion, with open discussion at the end of

the session. In each session, the next speaker discusses the paper of current speaker, with the first

speaker discussing the last paper.

Session Number 1: Macroeconomy

Venue: Room D3:063

Time: 10:30 - 12:00 Monday 18 July

Chair: Xunpeng Shi, National University of Singapore

A Rebalancing Chinese Economy: Challenges and International Implications

Guonan Ma, Bruegel

Ivan Roberts, Reserve Bank of Australia

Gerard Kelly, Reserve Bank of Australia

Discussant: James Laurenceson, University of Technology Sydney

China’s Debt Challenge: Stylised Facts, Drivers and Policy Implications

Guonan Ma, Bruegel

James Laurenceson, University of Technology Sydney

Discussant: Yujiang Bi, Shanghai Lixin University of Commerce

US Monetary Policy Shocks and the Chinese Economy: A GVAR Approach

Yujiang Bi, Shanghai Lixin University of Commerce

Sajid Anwar, University of Sunshine Coast

Discussant: Deyong Zhang, Chinese Academy of Social Sciences

Evaluation of Fiscal Management Reform in China since 1994

Deyong Zhang, Chinese Academy of Social Sciences

Discussant: Ivan Roberts, Reserve Bank of Australia

Session Number 2: Firm Behaviours

Venue: Room D3:059


Chair: Guiying Laura Wu, Nanyang Technological University

Outward FDI and Domestic Input Distortions: Evidence from Chinese Firms

Cheng Chen, University of Hong Kong

Wei Tian, University of International Business and Economics

Miaojie Yu, Peking University

Discussant: Junjie Xia, University of Southern California

Trade Credit, Financing Structure and Growth – Theory and Evidence

Junjie Xia, University of Southern California

Discussant: Qingyuan Du, Monash University

Importer Heterogeneity and Exchange Rate Pass-through

Mi Dai, Beijing Normal University

Qingyuan Du, Monash University

Yaqi Wang, Central University of Finance and Economics

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Jianwei Xu, Beijing Normal University

Discussant: Liangfeng Hao, Southeast University

Product Innovation, Heterogeneous Productivity and the Dual Margins of Chinese Exporting Firms

Liangfeng Hao, Southeast University

Bin Qiu, Southeast University

Xu Chen, Southeast University

Shaoqin Sun, Nanjing University of Information Science and Technology

Discussant: Miaojie Yu, Peking University

Session Number 3: Productivity, R&D and Innovation

Venue: Room D3:144


Chair: Dahai Fu, Central University of Finance and Economics

Productivity, Efficiency and Technical Change Directions of China’s Grain Production: Application of

the Bias-corrected Malmquist Indices

Tian-xiang Li, Nanjing Agricultural University

Tomas Balezentis, Lithuanian Institute of Agrarian Economics

Li-juan Cao, Nanjing Agricultural University

Jing Zhu, Nanjing Agricultural University

Wu-sheng Yu, University of Copenhagen

Discussant: Jian Chen, Southeast University

Import Technological Spillover, Correlation Effect and its Influence on Improving China Industrial

Productivity - An Analysis Based on Structural Decomposition

Jian Chen, Southeast University

Discussant: Xing Shi, University of Western Australia

Evolution of Product-embodied R&D in China

Xing Shi, University of Western Australia

Yanrui Wu, University of Western Australia

Discussant: Zhifeng Wang, Nanyang Technological University

The Evolution and Distribution of Productivity of Chinese Manufacturing

Guiying Laura Wu, Nanyang Technological University

Qu Feng, Nanyang Technological University

Zhifeng Wang, Nanyang Technological University

Discussant: Tian-xiang Li, Nanjing Agricultural University

Session Number 4: Agricultural Economics

Venue: Room D3:149


Chair: Komla Tsey, James Cook University

The Spatial and Temporal Impact of Climate Factors on Oilseed Rape Yield in China

Yaqin He, Huazhong Agricultural University

Revell J.Brian, Harper Adams University

Bofeng Leng, Huazhong Agricultural University

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Zhongchao Feng, Huazhong Agricultural University

Discussant: Hua Lu, Nanjing Agricultural University

Land Fragmentation, Plot Size and Efficiency of Agricultural Production — Based on an empirical

analysis of survey data in Jiangsu Province, China

Hua Lu, Nanjing Agricultural University

Hao Hu, Nanjing Agricultural University

Discussant: Ying Wang, Nanjing Agricultural University

Does the Development of Outsourcing Market Promote the Farmer's Consumption for Agricultural

Outsourcing Service?

Ying Wang, Nanjing Agricultural University

Jin-tao Zhan, Nanjing Agricultural University

Discussant: Yaqin He, Huazhong Agricultural University

Session Number 5: Economic Growth and Development

Venue: D3:063


Chair: Taha Chaiechi, James Cook University

Avoiding Development Traps

Hao Ren, Tsinghua University

Discussant: Jiawei Mo, University of Hong Kong

From Manufacturing to Land Financing: China’s New Growth Model?

Jiawei Mo, University of Hong Kong

Shiyuan Chen, University of Hong Kong

Discussant: Meng Qin, Southeast University

Impact of Urban Sprawl on Regional Economic Growth: Evidence based on DMSP Night-time Light

Data

Meng Qin, Southeast University

Xiuyan Liu, Southeast University

Discussant: Zongyue He, Beijing Normal University

China's Economic Development and Its Stage Characteristics

Zongyue He, Beijing Normal University

Xuguang Song, Beijing Normal University

Discussant: Hao Ren, Tsinghua University

Session Number 6: Productivity, R&D and Innovation

Venue: D3:059


Chair: Maciej Kotowski, Harvard University

Trade and R&D activities in China

Yixiao Zhou, Curtin University

Ligang Song, Australian National University

Discussant: Yu Qin, National University of Singapore

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International Technology Transfer and Domestic Innovation: Evidence from the High-Speed Rail

Sector in China

Yatang Lin, London School of Economics

Yu Qin, National University of Singapore

Zhuan Xie, Peking University

Discussant: Guiying Laura Wu, Nanyang Technological University

Estimating Productivity of Public Investment

Guiying Laura Wu, Nanyang Technological University

Qu Feng, Nanyang Technological University

Zhifeng Wang, Nanyang Technological University

Discussant: Yanrui Wu, University of Western Australia

Does University-industry Collaboration Improve Chinese Firms’ Innovation Efficiency?

Xing Shi, University of Western Australia


Dahai Fu, Central University of Finance and Economics

Discussant: Yixiao Zhou, Curtin University

Session Number 7: Regional Economics

Venue: D3: 144


Chair: Ivan Roberts, Reserve Bank of Australia

Does Export Diversification Matter for China's Regional Growth?

Dahai Fu, Central University of Finance and Economics


Ying Zhang, Chinese Academy of Social Science

Discussant: Rui-cong Sang, Shanghai Lixin University of Commerce

Regional Policy and Industrial Relocation in China: A Panel Data Analysis

Rui-cong Sang, Shanghai Lixin University of Commerce

Sajid Anwar, University of Sunshine Coast

W. Robert J. Alexander, University of Sunshine Coast

Discussant: Nicolaas Groenewold, University or Western Australia

The Effects within and between Regions of Output Shocks in China

Anping Chen, Jinan University

Nicolaas Groenewold, University or Western Australia

Discussant: Jihong Li, China University of Geosciences

Research on Coupling Coordination between Urbanization and Economic Development in Shandong

Province

Jihong Li, China University of Geosciences

Hongyun Ma, China University of Geosciences

Qi Huang, China University of Geosciences

Discussant: Dahai Fu, Central University of Finance and Economics

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Session Number 8: Urbanization and Real Estate

Venue: D3:149


Chair: Lilai Xu, RMIT University

The Determinants of Chinese Outward Real Estate Investment

Jingjing Zhang, Nanjing Audit University

Chyi Lin Lee, Western Sydney University

Discussant: Andy Wui Wing Cheng, Hang Seng Management College

Housing Price and Crime: Evidence from China

Andy Wui Wing Cheng, Hang Seng Management College

Tsun Se Cheong, Hang Seng Management College

Victor Li, Hang Seng Management College

Discussant: Caixia Liu, Jinan University

The Determinants of Tenure Choice in Urban China

Caixia Liu, Jinan University

Xian Zheng, Jinan University

Eddie C.M. Hui, Hong Kong Polytechnic University

Discussant: Songlin Li, Southeast University

The Path of Urbanization in China: Monocentric Mega-city or Polycentric City Cluster?

Songlin Li, Southeast University

Xiuyan Liu, Southeast University

Discussant: Jingjing Zhang, Nanjing Audit University

Session Number 9: Banking and Finance

Venue: D3:063


Chair: Shiguang Ma, University of Wollongong

IPO Underpricing in Hong Kong: New Evidence

Lee Wai Choi, Hang Seng Management College

Discussant: Yin Wei, Southeast University

Limited Loan Rate Differentiation and the Determination of Loan Terms in the Chinese Commercial

Credit Market

Kent Matthews, Cardiff University

Yin Wei, Southeast University

Discussant: Erwei Xiang, Edith Cowan University

Lending to Private Firms: Evidence from China on the Role of Firm Openness and Bribery

Wenjuan Ruan, Murdoch University

Erwei Xiang, Edith Cowan University

Shiguang Ma, University of Wollongong

Discussant: Lilai Xu, RMIT University

Enterprise Risk Management for FDI in China: Scope and Framework

KB Oh, La Trobe University

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Lilai Xu, RMIT University

Nga Le Thu Pham, Hanoi University

J. Sturdy, La Trobe University

J. Wang, Beijing Information Science Technology University

Discussant: Lee Wai Choi, Hang Seng Management College

Session Number 10: Consumption

Venue: D3:059


Chair: Tracey Mahony, James Cook University

Research on the Impact of Dairy Products Imports on Dairy Industry of China - A Case Study of Dairy

Import from Australia

Yan-jiao Wei, Nanjing Agricultural University

Discussant: Meen Chee Hong, James Cook University

The Determinants of Chinese Muslims Consumption on Halal Personal Care Products

Meen Chee Hong, James Cook University

Sizhong Sun, James Cook University

Rabiul Beg, James Cook University

Zhou Zhang Yue, James Cook University

Discussant: Xin Gu, Southeast University

Understanding Consumption Patterns: A Study of China’s Urban Residents by Income Levels

Xin Gu, Southeast University

Discussant: Teddy Wen, James Cook University

Astronomy Tourism in China: Exploring an Emerging Market

Teddy Wen, James Cook University

Discussant: Yan-jiao Wei, Nanjing Agricultural University

Session Number 11: Environmental Economics

Venue: D3:144


Chair: Diane Jarvis, James Cook University

Decoupling Economic Growth from Air Pollution in Chinese Cities

Xiumei Guo, Curtin University

Dora Marinova, Curtin University

Discussant: Ya Wu, Jinan University

Means of Transformation to a Low-carbon Economy in Guangdong Province, China in Terms of

Domestic Demand, Foreign Trade, and Industrial Upgrading

Ya Wu, Jinan University

Discussant: Yuk-shing Cheng, Hong Kong Baptist University

Property Rights Reform in China’s Forestland–management Incentives and Ecological Protection

Yuk-shing Cheng, Hong Kong Baptist University

Discussant: Huaqing Wu, Hefei University of Technology

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Are the Central Government’s Environmental Policies Effective? An Efficiency Analyses for China’s

Provincial Production and Treatment Processes

Qiong Xia, Hefei University of Technology

Ming Lia, Hefei University of Technology

Ya Chen, Hefei University of Technology

Huaqing Wu, Hefei University of Technology

Discussant: Xiumei Guo, Curtin University

Session Number 12: Industrial Economy

Venue: D3:149


Chair: Hongbo Liu, James Cook University

International Oil Price Uncertainty and Corporate Investment: Evidence from China’s Emerging

Transition Economy

Yong Wang, China University of Petroleum


Wenjuan Ruan, Murdoch University

Discussant: Ruohan Zhang, Jinan University

Financial Inclusion and the Formation of Entrepreneurs: Evidence from China

Zhaobin Fan, Jinan University

Ruohan Zhang, Jinan University

Discussant: Chunlai Chen, Australian National University

The Impact of Outward Foreign Direct Investment on China’s Regional Economic Growth

Chunlai Chen, Australian National University

Discussant: Wenjuan Ruan, Murdoch University

Session Number 13: Foreign Direct Investment

Venue: D3:063

Time: 10:15 - 11:45 Tuesday 19 July

Chair: Josephine Pryce, James Cook University

Cross-Country Dissemination of Culture via FDI: Micro Evidence from China

Faqin Lin, Central University of Finance and Economics

Discussant: Chunlai Chen, Australian National University

The Impact of Coastal Foreign Direct Investment on China’s Inland Urbanisation

Chunlai Chen, Australian National University

Yan Wu, Beijing Normal University

Discussant: Tsun Se Cheong, Hang Seng Management College

Evolutionary Trend of Foreign Investment in China: A Combined Decomposition and Transitional

Dynamics Approach


Andy Wui Wing Cheng, Hang Seng Management College

Jing Li, Hang Seng Management College

Discussant: Haichun Ye, Shanghai University of Finance and Economics

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FDI, Trade Credit, and Transmission of Global Liquidity Shocks: Evidence from Chinese Manufacturing

Firms

Shu Lin, Fudan University

Haichun Ye, Shanghai University of Finance and Economics

Discussant: Faqin Lin, Central University of Finance and Economics

Session Number 14: Institution and Energy

Venue: D3:059


Chair: James Laurenceson, University of Technology Sydney

Spatial Impact of Economic Structure Reform on China's Energy Consumption — Perspective of

Satellite Lighting Data from Prefecture-level City

Nan Zhao, Beijing Normal University

Xuguang Song, Beijing Normal University

Tianyang Ji, Beijing Normal University

Discussant: Xunpeng Shi, National University of Singapore

Uncertainties in China’s Gas Market and Their Impact

Xunpeng Shi, National University of Singapore

Hari MP, National University of Singapore

Jacqueline Tao, National University of Singapore

Discussant: Steven Kates, RMIT University

Political Economy in Crisis: Were the Classical Economists Right After All?

Steven Kates, RMIT University

Discussant: Erwei Xiang, Edith Cowan University

Institutional Background, Corporate Social Responsibility and Tax Avoidance

Yuanhui Li, Beijing Jiaotong University

Qingqing Wang, Beijing Jiaotong University


Discussant: Nan Zhao, Beijing Normal University

Session Number 15: International Trade

Venue: D3-144


Chair: Miaojie Yu, Peking University

Export Competitiveness of Agricultural Industry from Emerging Market: A Cluster Analysis based on

Genetic Algorithm in Complex Network

Da Huo, Central University of Finance and Economics

Haibo Wang, Texas A&M International University

Discussant: Yanyan Xiong, Southeast University

Factor Endowments, Trade and Income Inequality: Evidence from China

Yanyan Xiong, Southeast University

Discussant: Wenxiao Wang, University of Adelaide

22

Export, Quality Specialization and Wage Gap

Yihong Tang, Central University of Finance and Economics

Wenxiao Wang, University of Adelaide

Discussant: Hao Xiao, Hunan University

Trade Creation Effect and Trade Diversion Effect in Global Value Chain: An Application in Sino-Korean

FTA

Hao Xiao, Hunan University

Cong Yan, Hunan University

Huimin Bi, Hunan University

Jue Chen, Hunan University

Discussant: Da Huo, Central University of Finance and Economics

Session Number 16: Labour Economics

Venue: D3:149


Chair: Sajid Anwar, University of Sunshine Coast

New Cooperative Medical Scheme and Self-Employment in rural China

Gatwaza H. Thierry, China Agricultural University

Baozhong Su, China Agricultural University

Discussant: Zhaobin Fan, Jinan University

International Migration, Human Capital Composition and the Middle-Income Trap


Discussant: Jing Xiang, Chinese Academy of Social Science

China’s Rural Population Dynamics and Urbanization Estimate

Jing Xiang, Chinese Academy of Social Science

Discussant: Lin Pan, Jinan University

International Migration and Knowledge Diffusion: Evidence from OECD Countries


Lin Pan, Jinan University

Chengyaohang Li, Jinan University

Discussant: Baozhong Su, China Agricultural University

Session Number 17: Public Economics

Venue: D3:063


Chair: James Cheong, Hang Seng Management College

Structural Change with Public Educational Expenditure: Evidence from China

Xun Zhang, Beijing Normal University

Discussant: Le Ma, The University of Sydney

The Effectiveness of Innovation-Oriented Government Policy: The Case of China

Demetris Christodoulou, The University of Sydney

Baruch Lev, New York University

23

Le Ma, The University of Sydney

Discussant: Xiyang Zheng, Sun Yat-sen University

New Cooperative Medical Scheme Assigned Hospital Administration and Expenditure Control in China

Xiyang Zheng, Sun Yat-sen University

Tingting Qu, Sun Yat-sen University

Shuguang Shen, Sun Yat-sen University

Discussant: Jing Liu, Australian National University

Infrastructure Investment under Public-Private Partnership in China and its Policy Implications

Jing Liu, Australian National University

Discussant: Xun Zhang, Beijing Normal University

Session Number 18: Recent Development of Economic Theory

Venue: D3:059


Chair: Qingyuan Du, Monash University

Multi-period Matching

Sangram V. Kadam, Harvard University

Maciej H. Kotowski, Harvard University

Discussant: C. Simon Fan, Lingnan University

Relative Deprivation, Social Distance, and Social Norms

C. Simon Fan, Lingnan University

Oded Stark, Universities of Bonn and Georgetown University

Discussant: Jingran Yang, Renmin University of China

Productivity, Politics, and the Optimal Qualifying Competition

Qijing Yang, Renmin University of China

Jingran Yang, Renmin University of China

Discussant: Yu Pang, Macau University of Science and Technology

Profitable Pollution Abatement? A Worker Productivity Perspective

Yu Pang, Macau University of Science and Technology

Discussant: Maciej H. Kotowski, Harvard University

Session Number 19: Agricultural Economics

Venue: D3:144


Chair: Chunlai Chen, Australian National University

Cold Chain Logistics in China and its Impact on the Export of Australian Perishable Food Products

Yahua Zhang, University of Southern Queensland

Alice Woodhead, University of Southern Queensland

Discussant: Xiaolong Feng, Northwest A&F University

What Motivates Farmers’ Adaptive Intention to Climate Change: The Case from Apple Farmers of

Shaanxi in China?

Xiaolong Feng, Northwest A&F University

24

Xuexi Huo, Northwest A&F University

Discussant: Qian Zhang, Nanjing Agricultural University

Subsidy Policies and Rice Planting Pattern Choices: An evidence from the investigate of Hunan

Province

Qian Zhang, Nanjing Agricultural University

Quanzhong Wang, Nanjing Agricultural University

Hong Zhou, Nanjing Agricultural University

Discussant: Bo-feng Leng, Huazhong Agricultural University

Recut the Cheese: The Impacts of Agriculture Subsidy Change to Farmer’s Satisfaction on Land

Circulation

Bo-feng Leng, Huazhong Agricultural University

Zhong-chao Feg, Huazhong Agricultural University and Center of Hubei Rural Development

Discussant: Yahua Zhang, University of Southern Queensland

Session Number 20: Inequality

Venue: D3:149


Chair: Yuk-shing Cheng, Hong Kong Baptist University

The Relationship between Housing Price and Rural-urban Disparity in China

Jing Li, Hang Seng Management College


Discussant: Chaoping Lu, Nanjing Agricultural University

The Economic Disparities and Their Spatial-temporal Evolution in China at Multi-Levels: A Study

Based on the Global Night-time Light Data

Chaoping Lu, Nanjing Agricultural University

Yingheng Zhou, Nanjing Agricultural University

Binjian Yan, Nanjing Agricultural University

Discussant: Jinzhi Tong, Xiamen University

An Empirical Study of the Income Redistribution Effect of the Taxes Imposed on Citizens in China

Jinzhi Tong, Xiamen University

Zhuzhu Zhou, Xiamen University

Discussant: Jing Li, Hang Seng Management College

25

List of Conference Participants

(Note: Participants of Policy Forum and Tourism Forum are not included in this list)

First Name Surname Organisation Name/JCU Account Number Email Address

Sajid Anwar University of the Sunshine Coast [email protected]

Yuijang Bi Shanghai Lixin University of Commerce [email protected]

Taha Chaiechi James Cook University [email protected]

Chunlai Chen Australian National University [email protected]

George Chen Australian Trade and Investment Commission (Austrade) [email protected]

Jian Chen Southeast University [email protected]

Shiyuan Chen The University of Hong Kong [email protected]

Andy Cheng Hang Seng Management College [email protected]

Yuk-shing Cheng Hong Kong Baptist University [email protected]

James Tsun Cheong Hang Seng Management College [email protected]

Qingyuan Du Monash University [email protected]

Janie Edwards James Cook University [email protected]

Zhaobin Fan Jinan University [email protected]

Cheng Ze Fan Lingnan University [email protected]

Fuqian Fang Renmin University of China [email protected]

Hanming Fang University of Pennsylvania [email protected]

Xiaolong Feng Northwest A&F University [email protected]

Dahai Fu Central University of Finance and Economics [email protected]

Iain Gordon James Cook University [email protected]

Nicolaas Groenewold University of Western Australia [email protected]

Xin Gu Southeast University [email protected]

Xiumei Guo Curtin University [email protected]

Liangfeng Hao Southeast University [email protected]

Zongyue He Beijing Normal University [email protected]

Yaqin He Huazhong Agricultural University [email protected]

Meen Chee Hong James Cook University [email protected]

Sam Huang University of South Australia [email protected]

Da Huo Central University of Finance and Economics [email protected]

Diane Jarvis James Cook University [email protected]

Zhan Jintao Nanjing Agricultural University [email protected]

Jiangang Kang Education Office of Chinese Embassy in Australia [email protected]

Steven Kates RMIT University [email protected]

Gerard Kelly Reserve Bank of Australia [email protected]

Maciej Kotowski Harvard University [email protected]

James Laurenceson University of Technology Sydney [email protected]

Wai Choi Lee Hang Seng Management College [email protected]

Chris Legg The Treasury [email protected]

Bo-feng Leng Huazhong Agricultural University [email protected]

Jihong Li China University of Geosciences [email protected]

Victor Jing Li Hang Seng Management College [email protected]

Tianxiang Li Nanjing Agricultural University [email protected]

Songlin Li Southeast University [email protected]

26

Faqin Lin Central University of Finance and Economics [email protected]

Shu Lin Fudan University [email protected]

Jing Liu Australian National University [email protected]

Hongbo Liu James Cook University [email protected]

Caixia Liu Jinan University [email protected]

Stewart Lockie James Cook University [email protected]

David Low James Cook University [email protected]

Hua Lu Nanjiang Agricultural University [email protected]

Chaoping Lu Nanjing Agricultural University [email protected]

Le Ma University of Sydney [email protected]

Shiguang Ma University of Wollongong [email protected]

Tracey Mahony James Cook University [email protected]

Jennifer McHugh James Cook University [email protected]

Jiawei Mo The University of Hong Kong [email protected]

Lin Pan Jinan University [email protected]

Yu Pang Macau University of Science and Technology [email protected]

Philip Pearce James Cook University [email protected]

Jammie Penm Australian Bureau of Agricultural and Resource Economics and Sciences [email protected]

Luigi Pistaferri Stanford University [email protected]

Josephine Pryce James Cook University [email protected]

Yu Qin National University of Singapore [email protected]

Meng Qin Southeast University [email protected]

Bin Qiu Southeast University [email protected]

Hao Ren Tsinghua University [email protected]

Dane Richmond Australian Trade and Investment Commission (Austrade) [email protected]

Ivan Roberts Reserve Bank of Australia [email protected]

Wenjuan Ruan Murdoch University [email protected]

Luisa Rust Australian Trade and Investment Commission (Austrade) [email protected]

Ruicong Sang Shanghai Lixin University of Commerce [email protected]

Xunpeng Shi National University of Singapore [email protected]

Xing Shi The University of Western Australia [email protected]

Wei Si China Agricultural University [email protected]

Xuguang Song Beijing Normal University [email protected]

Baozhong Su China Agricultural University [email protected]

Sizhong Sun James Cook University [email protected]

Yanwen Tan South China Agricultural University [email protected]

Yihong Tang Central University of Finance and Economics [email protected]

Wei Tian University of International and Business and Economics [email protected]

Jinzhi Tong Xiamen University [email protected]

Komla Tsey James Cook University [email protected]

Ying Wang Nanjing Agricultural University [email protected]

Zhifeng Wang Nanyang Technological University [email protected]

Haibo Wang Texas A&M International University [email protected]

Wenxiao Wang University of Adelaide [email protected]

Yanjiao Wei Nanjiang Agricultural University [email protected]

Teddy Wen James Cook University [email protected]

Wing Thye Woo University of California, Davis [email protected]

Huaqing Wu Hefei University of Technology [email protected]

27

Ya Wu Jinan University [email protected]

Guiying Wu Nanyang Technological University [email protected]

Yanrui Wu University of Western Australia [email protected]

Junjie Xia University of Southern California, USA [email protected]

Jing Xiang Chinese Academy of Social Sciences [email protected]

Erwei Xiang Edith Cowan University [email protected]

Hao Xiao Hunan University [email protected]

Yanyan Xiong Southeast University [email protected]

Xiao Xu Education Office of Chinese Embassy in Australia [email protected]

Lilai Xu RMIT University [email protected]

Jingran Yang Renmin University of China [email protected]

Haichun Ye Shanghai University of Finance and Economics [email protected]

Wei Yin Southeast University [email protected]

Miaojie Yu Peking University [email protected]

Huasheng Zeng South China Agricultural University [email protected]

Xun Zhang Beijing Normal University [email protected]

Deyong Zhang Chinese Academy of Social Sciences [email protected]

Ruohan Zhang Jinan University [email protected]

Qian Zhang Nanjiang Agricultural University [email protected]

Jingjing Zhang Nanjing Audit University [email protected]

Shane Zhang University of Southern Queensland [email protected]

Nan Zhao Beijing Normal University [email protected]

Xiyang Zheng Sun Yat-sen University [email protected]

Yixiao Zhou Curtin University [email protected]

Zhangyue Zhou James Cook University [email protected]

Delin Zhuang Hefei University of Technology [email protected]

In Search of New Sources of Growth: What China Should Do Next?

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Transcript of In Search of New Sources of Growth: What China Should Do Next?