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Title: Empirical Investigations in International Trade: China after WTO
Keywords: International Trade; the Chinese Economy
Issue Date: 10-Jan-2014
Citation: LIU ZHENGNING (2014-01-10). Empirical Investigations in International Trade: China after WTO. ScholarBank@NUS Repository.
Abstract: My thesis empirically examines three topics of international trade in the context of the Chinese economy.In the first chapter, I study the e effects of trade liberalization following China's WTO entry in 2001 on Chinese firms productivity. My findings indicate that import tariff reductions have both positive and negative impact. My calculation shows that the overall impact of China's tariff reduction is positive: it had led to 0.94 per cent annual increase in firms' total factor productivity in the five years following Chinas WTO entry. In the second chapter, I address the question if local ownership requirement facilitates spillovers from foreign direct investment (FDI). To achieve the goal, I investigate empirically the effects of entry of wholly-owned FDI on local firms' productivity using Chinese manufacturing data during 1998-2007. Results show that new entries of foreign wholly-owned firms had significantly increased Chinese firms' TFP, and such spillovers were concentrated in high-tech industries. In the last chapter, I turn to the relationship between uncertainty and investment. I use the shock on exchange rate uncertainty caused by the switch of Chinas exchange regime in 2005 as a natural experiment to test the theoretical causality between uncertainty and firms' investment. I show that increases in exchange rate uncertainty had significantly reduced exporting firms' responsiveness to demand shocks. Moreover, I demonstrate that the negative correlation is stronger for firms with higher degree of capital irreversibility, which confirms the theoretical prediction of partial irreversibility model in the literature.
Appears in Collections:Ph.D Theses (Open)

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