Exports, FDI, Growth Of Small Rural Enterprises And Employment In China
This paper analyses the growth of employment in China during the post reform period. It argues that the Chinese experience with export-led growth provides an excellent example of the phenomenon of a vent for surplus productive capacity provided by exports, identified by Adam Smith in the Wealth of Nations and elaborated by Hla Myint. The paper extends the Smith-Myint model of ‘vent-for-surplus’ productive capacity to ‘vent-for-surplus’ resources by allowing foreign investment inflows. The ‘vent-for-surplus’ effect of exports on employment growth is examined in a dynamic labour demand framework for a panel of township and village enterprises (TVEs) in China.
References listed on IDEAS
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- Anthony P. Thirlwall, 2011.
"The Balance of Payments Constraint as an Explanation of International Growth Rate Differences,"
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- Anthony Philip Thirlwall, 1979. "The Balance of Payments Constraint as an Explanation of International Growth Rate Differences," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 32(128), pages 45-53.
- Anthony Philip Thirlwall, 1979. "The Balance of Payments Constraint as an Explanation of International Growth Rate Differences," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 32(128), pages 45-53.
- Greenaway, David & Hine, Robert C. & Wright, Peter, 1999. "An empirical assessment of the impact of trade on employment in the United Kingdom," European Journal of Political Economy, Elsevier, vol. 15(3), pages 485-500, September.
- Xiaolan Fu & V. N. Balasubramanyam, 2003. "Township and Village Enterprises in China," Journal of Development Studies, Taylor & Francis Journals, vol. 39(4), pages 27-46.
- V N Balasubramanyam & X Fu, 2002. "Township and village enterprises in China," Working Papers 539923, Lancaster University Management School, Economics Department.
- Nicholas Kaldor, 1975. "What is Wrong with Economic Theory," The Quarterly Journal of Economics, Oxford University Press, vol. 89(3), pages 347-357.
- Manuel Arellano & Stephen Bond, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Oxford University Press, vol. 58(2), pages 277-297.
- Tom Doan, "undated". "RATS program to replicate Arellano-Bond 1991 dynamic panel," Statistical Software Components RTZ00169, Boston College Department of Economics.
- Kiviet, Jan F., 1995. "On bias, inconsistency, and efficiency of various estimators in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 68(1), pages 53-78, July.
- Tom Doan, "undated". "LSDVC: RATS procedure to estimate a dynamic FE model with correction for bias," Statistical Software Components RTS00111, Boston College Department of Economics.
- Fan Gang & Maria Rosa Lunati & David O’Connor, 1998. "Labour Market Aspects of State Enterprise Reform in China," OECD Development Centre Working Papers 141, OECD Publishing. Full references (including those not matched with items on IDEAS)
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