ISSN:1351-3958    

DOI:10.1111/j.1467-8381.1995.tb00021.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

This study aims to explain the changing pattern of productive efficiency of the Chinese iron and steel industry during the 1980s. By decomposing productive inefficiency into technical, allocative and scale inefficiencies, the effect of market‐oriented reform measures on inefficient resource utilization is empirically tested. A consistent improvement is found in technical efficiency from different sized firms. An improvement in allocative efficiency of investment in upgrading and innovation from different sized firms is also found. Allocative efficiency of working capital was found to have hardly improved which could be largely due to distorted factor markets. Different sized firms exhibited scale inefficiency which could be due to segmented local production and the impact of a two‐tier price system on the distribution of production share among fi

ISSN:1351-3958    

DOI:10.1111/j.1467-8381.1995.tb00022.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

Taiwan has experienced a huge trade surplus and a rapid growth in the money supply since the 1970s. This paper constructs and estimates a model that takes into account the demand for international reserves, price levels, and the joint determination of the exchange rate, the demand for money, and the balance of payments in Taiwan during the period 1979 to 1990. We focus our attention especially on the period from 1986 to 1990 when foreign reserves rapidly accumulated and the appreciation expectations prevailed. Our estimate of exchange rate reaction function accords with what is expected. The exchange rate appreciations had a favourable effect on the stabilization of price levels. In addition, the exchange rate and its expectations play important roles in the demand for money equation.

ISSN:1351-3958    

DOI:10.1111/j.1467-8381.1995.tb00023.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

This paper evaluates tax elasticities and the impact of discretionary tax measures on government revenue in Papua New Guinea (PNG) using a dynamic macroeconometric model of taxation which captures the interaction between GDP, individual tax systems and individual tax revenues and bases. Our findings show that economic growth and discretionary tax changes have both been effective in mobilizing additional tax revenue. However, the responsiveness of the individual tax system reflected base‐to‐GDP elasticity except personal income tax whose elasticity reflected increased tax ra

ISSN:1351-3958    

DOI:10.1111/j.1467-8381.1995.tb00024.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

This paper will examine the validity of the purchasing power parity (PPP) hypothesis for the Thai bahtvis‐à‐visthe currencies of Thailand's key trading partners under the new exchange rate regime using the cointegration technique. The major conclusions obtained from this empirical analysis may be broadly summarized as follows. First, the empirical evidence, based on the DF and ADF statistics, seems to suggest that the nominal exchange rates and relative prices are well characterized as non‐stationaryI(1) processes. Second, the cointegration analysis providesnoevidence in support of a long‐run equilibrium relationship between bilateral nominal exchange rates for the Thai bahtvis‐à‐visthe currencies of Thailand's major trading partners and the corresponding relative price ratios. This implies rejection of PPP for these countries. If this is the case, considerable care should be taken in assessing the long‐run implications for the real exchange rate, and thus competitiveness against Thailand's key trading partners, of shocks to the nomina

ISSN:1351-3958    

DOI:10.1111/j.1467-8381.1995.tb00025.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY

摘要:

This paper addresses the issue of labour shortage in Hong Kong. Labour shortage is a secular phenomenon caused mainly by a stagnation in the growth of the labour force. The major long‐term factors that explain this stagnation are a decline in fertility, a fall in the labour participation rate, a reduced intake of immigrants and a rising outflow of emigrants. Labour imposes a capacity constraint on the growth of the economy. This paper considers policies which may alleviate the supply constraint on the economy, including reducing emigration, importing labour and increasing immigration intake. These policies, which would lead to a faster expansion of the labour force, are evaluated and compare

ISSN:1351-3958    

DOI:10.1111/j.1467-8381.1995.tb00026.x

出版商:Blackwell Publishing Ltd    

年代:1995

数据来源: WILEY