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Essays on International Trade and In...

Zhao, Jing.

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Essays on International Trade and Investment.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays on International Trade and Investment./
Author:	Zhao, Jing.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2019,
Description:	231 p.
Notes:	Source: Dissertations Abstracts International, Volume: 81-09, Section: A.
Contained By:	Dissertations Abstracts International81-09A.
Subject:	Economics. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=27783994
ISBN:	9781392427767

Essays on International Trade and Investment.
Zhao, Jing.

Essays on International Trade and Investment. - Ann Arbor : ProQuest Dissertations & Theses, 2019 - 231 p.

Source: Dissertations Abstracts International, Volume: 81-09, Section: A.

Thesis (Ph.D.)--The Chinese University of Hong Kong (Hong Kong), 2019.

The first essay explores how interstate trade spreads local housing market shocks geographically in the US through a two-step investigation. It first examines the effect of housing market fluctuations on US interstate bilateral trade by using four-year panel data to estimate a gravity equation augmented with housing wealth shocks. The results show that the bilateral exports between states are affected positively by the housing wealth shocks in destination markets but negatively and slightly by such shocks in the origin states. Based on the findings revealed by the first-step investigation, this paper further examines the effects of export-weighted external housing wealth shocks on employment using a panel of US state-level employment data from 2003 to 2013. Results show that tradable sector employment is positively affected by external housing shocks from the destination state but rarely affected by local shocks. Findings support the hypothesis that trade spreads housing market fluctuations geographically.The second essay examines the effectiveness of the One Belt One Road Initiatives (BRI), a government-led regional integration and cooperation program, with a focus on China's outward direct investment (ODI) and trade. Using detailed data on Chinese ODI (both greenfield and brownfield) at the project level and Chinese exports and imports for 15 years (2003-2017), we conduct a difference-in-difference (DID) analysis of Chinese foreign investment and trade. We find the BRI has a positive effect in boosting Chinese greenfield ODI to countries involved in BRI (BR countries), especially in the infrastructure sector. However, we find no significant effect of BRI on Chinese brownfield ODI. In terms of Chinese international trade, we find a significant effect of BRI in promoting Chinese export to BR countries, especially the ordinary export conduct by private firms, but it has no significant effect on Chinese import. The primary findings on China's infrastructure investments and ordinary exports lead us to further identify the stronger effect of the BRI in stimulating China's export of the infrastructure-upstream commodities to BR country, thereby implying a possible mutual promotion between China's investments and exports to BR countries.The third essay investigates the effect of ordinary export on income inequality in urban China, with a focus on the differential export destinations. Specifically, we study whether ordinary exports from China to the high-income countries will be different with exports to middle-or-low-income countries in their effect on workers' wage income and within-region inequality. By combining the China Urban Household Survey data and China's Customs exporting data, we find that only the ordinary exports to high-income countries have a positive effect on the individual income in China, while ordinary exports to other countries (middle-or-low-income countries) have little effect on the wage income. Moreover, the ordinary exports to high-income countries only affect the wage in the upper half of the wage distributions through higher college premium. Based on these findings, we further find that the cities exposed to a higher share of export to high-income countries have a higher level of inequality. This unique effect of ordinary export to high-income countries may be explained by the demand for high-quality goods in the high-income countries, which are embedded with high skill and technology.

ISBN: 9781392427767Subjects--Topical Terms:

517137
Economics.
Subjects--Index Terms:

International trade

Essays on International Trade and Investment.
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260 1 $a Ann Arbor : $b ProQuest Dissertations & Theses, $c 2019
300 $a 231 p.
500 $a Source: Dissertations Abstracts International, Volume: 81-09, Section: A.
502 $a Thesis (Ph.D.)--The Chinese University of Hong Kong (Hong Kong), 2019.
520 $a The first essay explores how interstate trade spreads local housing market shocks geographically in the US through a two-step investigation. It first examines the effect of housing market fluctuations on US interstate bilateral trade by using four-year panel data to estimate a gravity equation augmented with housing wealth shocks. The results show that the bilateral exports between states are affected positively by the housing wealth shocks in destination markets but negatively and slightly by such shocks in the origin states. Based on the findings revealed by the first-step investigation, this paper further examines the effects of export-weighted external housing wealth shocks on employment using a panel of US state-level employment data from 2003 to 2013. Results show that tradable sector employment is positively affected by external housing shocks from the destination state but rarely affected by local shocks. Findings support the hypothesis that trade spreads housing market fluctuations geographically.The second essay examines the effectiveness of the One Belt One Road Initiatives (BRI), a government-led regional integration and cooperation program, with a focus on China's outward direct investment (ODI) and trade. Using detailed data on Chinese ODI (both greenfield and brownfield) at the project level and Chinese exports and imports for 15 years (2003-2017), we conduct a difference-in-difference (DID) analysis of Chinese foreign investment and trade. We find the BRI has a positive effect in boosting Chinese greenfield ODI to countries involved in BRI (BR countries), especially in the infrastructure sector. However, we find no significant effect of BRI on Chinese brownfield ODI. In terms of Chinese international trade, we find a significant effect of BRI in promoting Chinese export to BR countries, especially the ordinary export conduct by private firms, but it has no significant effect on Chinese import. The primary findings on China's infrastructure investments and ordinary exports lead us to further identify the stronger effect of the BRI in stimulating China's export of the infrastructure-upstream commodities to BR country, thereby implying a possible mutual promotion between China's investments and exports to BR countries.The third essay investigates the effect of ordinary export on income inequality in urban China, with a focus on the differential export destinations. Specifically, we study whether ordinary exports from China to the high-income countries will be different with exports to middle-or-low-income countries in their effect on workers' wage income and within-region inequality. By combining the China Urban Household Survey data and China's Customs exporting data, we find that only the ordinary exports to high-income countries have a positive effect on the individual income in China, while ordinary exports to other countries (middle-or-low-income countries) have little effect on the wage income. Moreover, the ordinary exports to high-income countries only affect the wage in the upper half of the wage distributions through higher college premium. Based on these findings, we further find that the cities exposed to a higher share of export to high-income countries have a higher level of inequality. This unique effect of ordinary export to high-income countries may be explained by the demand for high-quality goods in the high-income countries, which are embedded with high skill and technology.
590 $a School code: 1307.
650 4 $a Economics. $3 517137
650 4 $a Asian studies. $3 1571829
653 $a International trade
653 $a Interstate trade
653 $a Housing market shocks
653 $a Outward direct investment
653 $a Income inequality
690 $a 0501
690 $a 0342
710 2 $a The Chinese University of Hong Kong (Hong Kong). $3 1017547
773 0 $t Dissertations Abstracts International $g 81-09A.
790 $a 1307
791 $a Ph.D.
792 $a 2019
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=27783994