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The Value of Time and the Interaction of the Quantity and the Quality of Children
Chengze Simon Fan 서울대학교 경제연구소 1997 Seoul journal of economics Vol.10 No.2
Based on Becker's (1965) insight that consumption is costly in terms of both time and money, this paper extends the existing literature by assuming that the consumption of quantities is relatively time-intensive, while the consumption of qualities is relatively money-intensive. The analysis implies that the quantity of children is positively correlated with income only when incomes are relatively low. When people's incomes increase to a certain threshold level, fertility rate will decrease and will ultimately approach to a certain stable level as incomes rise. On the other hand, the analysis implies that the quality of children is not strongly correlated with income with incomes are low. However, when people's incomes reach a certain threshold level, further income increases will mainly lead to the increases of quality, rather than quantity, of children. Thus, this paper provides a unified theory that simultaneously explains why fertility is positively correlated with income when people's incomes are relatively low and why only the quality, but not the quantity, of children is positively correlated with income when people's incomes are relatively high.
Hong Kong Investment in China and Income Distribution of Hong Kong
( Kui Yin Cheung ),( Chengze Simon Fan ) 세종대학교 경제통합연구소 (구 세종대학교 국제경제연구소) 2001 Journal of Economic Integration Vol.16 No.4
Since the Chinese government launched the economic reform and “open door” policies in late 1978, investment between Hong Kong and Mainland China has increased remarkably. In fact, Hong Kong has been the Mainland`s dominant supplier of FDI. Income distribution in Hong Kong was affected when investors, in search of a higher rate of return, moved their capital from Hong Kong to the Mainland. The empirical findings here show that Hong Kong`s investment in the Mainland led to an increase in the rate of return of capital. Regression analysis indicates that the income redistribution effect of Hong Kong`s investment in China has been biased towards skilled workers.
Hong Kong Investment in China and Income Distribution of Hong Kong
Cheung, Kui Yin,Fan, Chengze Simon 세종대학교 국제경제연구소 2001 Journal of Economic Integration Vol.16 No.4
Since the Chinese government launched the economic reform and "open door" policies in late 1978, investment from Hong Kong to Mainland China has increased remarkably. In fact, Hong Kong has been the Mainlands dominant supplier of FDI. Income distribution in Hong Kong was affected when investors, in search of a higher rate of return, moved their capital from Hong Kong to the Mainland. The empirical findings here show that Hong Kong's investment in the Mainland led to an increase in the rate of return of capital. Regression analysis indicates that the income redistribution effect of Hong Kong's investment in China has been biased towards skilled workers.
Currency Substitution: The Use of Hong Kong Dollars in Southern China
( Kui Yin Cheung ),( Chengze Simon Fan ) 세종대학교 경제통합연구소 (구 세종대학교 국제경제연구소) 2002 Journal of Economic Integration Vol.17 No.3
This paper studies the circulation of Hong Kong dollars in the Chinese Mainland. It first estimates the amount of Hong Kong dollars circulating in southern China in the last fifteen years. The regression analysis indicates that the growth rate of Hong Kongs foreign direct investment in China and the growth rate of trade volume between Hong Kong and China are some of the main determinants that contribute to the widespread use of Hong Kong dollars in southern China. The difference of real returns between Hong Kong dollar denominated assets and Chinese Renminbi denominated assets, however, has no effect on the amount of Hong Kong dollars circulating in China.
Currency Substitution : The Use of Hong Kong Dollars in Southern China
Cheung, Kui Yin,Fan, Chengze Simon 세종대학교 국제경제연구소 2002 Journal of Economic Integration Vol.17 No.3
This paper studies the circulation of Hong Kong dollars in the Chinese Mainland. It first estimates the amount of Hong Kong dollars circulating in southern China in the last fifteen years. The regression analysis indicates that the growth rate of Hong Kongs foreign direct investment in China and the growth rate of trade volume between Hong Kong and China are some of the main determinants that contribute to the widespread use of Hong Kong dollars in southern China. The difference of real returns between Hong Kong dollar denominated assets and Chiaese Renminbi denominated assets, however, has no effect on the amount of Hong Kong dollars circulating in China.