Senior A.Prof.Juann Hung(USA), Xi’an Jiaotong-Liverpool University, China
Research Area: International Finance, Open Macroeconomics, International Trade
Title：What Have Impeded the Effectiveness of China’s Affordable Housing Policies?
This paper conducts panel regressions of quarterly provincial data, from 2005 to 2017, to investigate what have impeded the effectiveness of China’s affordable housing policies and interventions. Among our major findings are the following. First, after the 1994 tax-sharing reform had rendered the Chinese fiscal system one of revenue centralization and spending decentralization, local governments have increasingly resorted to land lease fees to help finance their expenditures. Their strategies aimed at reaping more land-sale revenues have contributed to propping up property prices to near bubbles.
Second, to maintain economic growth and financial/housing market stability, the Chinese government has effectively adopted a policy of easy money since the late 1990s. On the one hand, the government has relied on pegging the RMB at an exchange rate conducive to promoting its exports. This policy, which results in the rapid accumulation of its foreign exchange reserves, has led to the sharp rise in its monetary base. On the other hand, the government has relied on booming the real estate market as the locomotive of domestic demand, especially when the economy shows sign of slowing down. This policy in turn dictates China’s state-owned commercial banks’ to provide easy credit to real estate developers when need be, helping to increase the supply of liquidity.
Prof. Hj Kasim Hj Md Mansur, Universiti Malaysia Sabah, Malaysia
Hj Kasim Hj Md Mansur教授，马来西亚沙巴大学
Research Area: Leadership; Economic Development; Developing Countries; Development Studies; Governance
研究领域：领导; 经济发展; 发展中国家; 发展研究； 管治
Title：Trade policy in ASEAN and its Impact to Economic Growth
Abstract：In general free trade is under fire in nations across the world. Realizing the crucial of trade to economic development this paper surveys the role of trade policies among ASEAN. In what way trade policies can influence a foreign decision (FDI) to invest and in particular its impact to GDP. It is generally known that among ASEAN there are substantial variations in trade policy. Historically, ASEAN openness to trade and investment among member countries has substantially contributed to most ASEAN economic growth, but some member countries still maintains duties against several categories of goods. The highest tariffs are concentrated on basic supplies such as rice, sugar, agriculture produce, textiles. This paper explores possible avenues for harnessing the potential of trade policies among ASEAN to achieve sustainable development goals and targets. In doing so, this writing focuses on three areas where trade’s contribution will be particularly critical, namely, food security, sustainable energy, regional and political stability. This conceptual paper is also aims to highlights existing shortcomings in international trade governance frameworks among ASEAN and assesses possible avenues for addressing them through multilateral negotiations, regional and sub-regional agreements.