From World Factory to World Investor: The New Way of China Integrating into the World
Bijun Wang, Xiang Li
China Economic Journal,
Nr. 2,
2017
Abstract
This paper argues that outward direct investment (ODI) is replacing international trade as the new way China integrates into the world. Based on two complementary datasets, we document the pattern of Chinese ODI. We argue that the rapid growth of China’s ODI is the result of strong economic development, increasing domestic constraints, and supportive government policies. Compared with trade integration, investment integration involves China more deeply in global business. As a new global investor, China’s ODI in the future is full of opportunities, risks, and challenges. The Chinese government should improve bureaucracy coordination and participate more in designing and maintaining international rules to protect ODI interests.
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Alternatives to GDP - Measuring the Impact of Natural Disasters using Panel Data
Jörg Döpke, Philip Maschke
Journal of Economic and Social Measurement,
Nr. 3,
2016
Abstract
A frequent criticism of GDP states that events that obviously reduce welfare of people can nevertheless increase GDP per capita. We use data of natural disasters as quasi experiments to examine whether alternatives to GDP (Human Development Index, Progress Index, Index of Economic Well-Being and a Happiness Index) lead to more plausible responses to disasters. Applying a Differences-in-Differences approach and estimates from various panels of countries we find no noteworthy differences between the response of real GDP per capita and the responses of suggested alternative welfare measures to a natural disaster except for the Human Development Index.
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Does Administrative Status Matter for Urban Growth? Evidence from Present and Former County Capitals in East Germany
Bastian Heider, Albrecht Kauffmann, Martin T. W. Rosenfeld
Abstract
Public sector activities are often neglected in the economic approaches used to analyze the driving forces behind urban growth. The institutional status of a regional capital is a crucial aspect of public sector activities. This paper reports on a quasi-natural experiment on county towns in East Germany. Since 1990, cities in East Germany have demonstrated remarkable differences in population development. During this same period, many towns have lost their status as a county seat due to several administrative reforms. Using a difference-in-difference approach, the annual population development of former county capitals is compared to population change in towns that have successfully held on to their capital status throughout the observed period. The estimations show that maintaining county capital status has a statistically significant positive effect on annual changes in population. This effect is furthermore increasing over time after the implementation of the respective reforms.
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The Diablo 3 Economy: An Agent Based Approach
Makram El-Shagi, Gregor von Schweinitz
Computational Economics,
Nr. 2,
2016
Abstract
Designers of MMOs such as Diablo 3 face economic problems much like policy makers in the real world, e.g. inflation and distributional issues. Solving economic problems through regular updates (patches) became as important to those games as traditional gameplay issues. In this paper we provide an agent framework inspired by the economic features of Diablo 3 and analyze the effect of monetary policy in the game. Our model reproduces a number of features known from the Diablo 3 economy such as a heterogeneous price development, driven almost exclusively by goods of high quality, a highly unequal wealth distribution and strongly decreasing economic mobility. The basic framework presented in this paper is meant as a stepping stone to further research, where our evidence is used to deepen our understanding of the real-world counterparts of such problems. The advantage of our model is that it combines simplicity that is inherent to model economies with a similarly simple observable counterpart (namely the game environment where real agents interact). By matching the dynamics of the game economy we can thus easily verify that our behavioral assumptions are good approximations to reality.
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Interrelationship between Industrial and Innovation Development in East Germany
Gerhard Heimpold
Region: Ekonomika i Soziologija,
Nr. 2,
2015
Abstract
The article demonstrates that the most important reason for the slowdown and stagnation of economic convergence in East Germany is the weakness in terms of research and development and innovation. It analyzes the interrelationship between industrial and innovative development in the East German federal states since 1990. The article shows how the East German industry sector and its R&D activities looked like in the late 1980s and which transition it had undergone in the course of privatization. The industrial development of the new federal states after 1990 is analyzed. The paper reveals structural shortcomings in East Germany's economy and considers their impact on the progress in R&D.
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Regional Development in the Course of Economic Integration: The Case of German Unification, Development Path and Policy Experiences
Gerhard Heimpold
Cohesion and Development Policy in Europe,
2015
Abstract
Der Beitrag gibt einen Überblick über die wirtschaftliche Entwicklung in Ostdeutschland nach der Herstellung der Einheit Deutschlands, zeigt fortbestehende strukturelle Defizite, resümiert Erfahrungen beim Aufbau Ost und zieht einige wirtschaftspolitische Schlussfolgerungen.
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The Development of Cities and Municipalities in Central and Eastern Europe: Introduction for a Special Issue of 'Urban Research and Practice'
Martin T. W. Rosenfeld, Albrecht Kauffmann
Urban Research & Practice, Vol. 7 (3),
Nr. 3,
2014
Abstract
Since the 1990s, local governments in Central and Eastern European (CEE) countries have been confronted by completely new structures and developments. This came after more than 40 years (or even longer in the case of the former Soviet Union) under a socialist regime and behind an iron curtain which isolated them from the non-socialist world. A lack of resources had led to an underinvestment in the refurbishment of older buildings, while relatively cheap ‘prefabricated’ housing had been built, not only in the outskirts of cities, but also within city centres. A lack of resources had also resulted in the fact that the socialist regimes were generally unable to replace old buildings with ‘modern’ ones; hence, there is a very rich heritage of historical monuments in many of these cities today. The centrally planned economies and the development of urban structures (including the shifts of population between cities and regions) were determined by ideology, political rationality and the integration of all CEE countries into the production schemes of the Council for Mutual Economic Assistance and its division of labour by location. The sudden introduction of a market economy, private property, democratic rules, local autonomy for cities and municipalities and access to the global economy and society may be seen as a kind of ‘natural experiment’. How would these new conditions shape the national systems of cities and municipalities? Which cities would shrink and which would grow? How would the relationship between core cities and their surrounding municipalities develop? And what would happen within these cities and with their built environment?
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The Impact of Local Factors on the Scope of Benefits from Public Investment: The Case of Tourism Infrastructure in Saxon Municipalities
Martin T. W. Rosenfeld, Albrecht Kauffmann
Urban Research & Practice,
Nr. 3,
2014
Abstract
Following the transition from socialist central planning economies to market economies in all of the former socialist countries, many regions have had to cope with severe structural changes and economic development problems. To overcome these problems, local governments have tried to invest in new public infrastructure to support the development of new industries. This paper looks at infrastructure that supports tourist activities and argues that the impact of infrastructure generally depends on certain local factors which differ between municipalities. One important factor is whether the local population possesses the relevant complementary factors, in particular the right ‘soft skills’.
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Economic Development in East Germany since German Unification. Results, Shortcomings and Implications for Economic Policy
Gerhard Heimpold, Mirko Titze
S. Collignon, P. Esposito (eds), Competitiveness in the European Economy, Routledge Studies in the European Economy, Bd. 29,
2014
Abstract
The contribution provides an overview on the economic development in East Germany after unification and draws conclusions for economic policy.
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5. Halle Colloquy on Local Public Economics “Cooperation between Jurisdictions: Assessing the Evidence for Cost Savings and Economic Development“
Peter Haug
Wirtschaft im Wandel,
Nr. 6,
2013
Abstract
Am 21. und 22. November 2013 fand am IWH in Zusammenarbeit mit der Universität Kassel (Lehrstuhl für Finanzwissenschaft, Professor Dr. Ivo Bischoff) das nunmehr 5. Hallesche Kolloquium zur kommunalen Wirtschaft statt. Die diesjährige Veranstaltung stand unter dem Zeichen einer Neuausrichtung. Das Programm wurde im Vergleich zu den Vorgängerveranstaltungen stärker auf das internationale wissenschaftliche Publikum zugeschnitten und das Themenspektrum ergänzend zum Kernthema „interkommunale Kooperation“ auf alle Bereiche der Kommunalfinanzen ausgeweitet.
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