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Wei, Shang-Jin

Works: 237 works in 1,544 publications in 1 language and 13,141 library holdings
Roles: Author, Editor, Contributor, Creator
Classifications: HF1418.7, 337
Publication Timeline
Publications about Shang-Jin Wei
Publications by Shang-Jin Wei
Most widely held works by Shang-Jin Wei
Regional trading blocs in the world economic system by Jeffrey A Frankel( Book )
8 editions published between 1996 and 1997 in English and held by 554 libraries worldwide
The globalization of the Chinese economy by Guanzhong Wen( Book )
11 editions published between 2002 and 2003 in English and held by 296 libraries worldwide
This volume offers insights into the globalization of the Chinese economy and its accession to the WTO. The contributors provide contemporary accounts of developments in the Chinese economy as it prepares to join the WTO and examines the implications of China's accession for the rest of the world. Firstly, the volume offers an overview of possible changes in industrial policies and analyses developments in some important sectors, including agriculture, telecommunications and automobiles. It addresses some concerns in China regarding it entry into the WTO, such as whether the WTO membership will cause massive unemployment and/or exacerbate inequalities among regions. Finally, it evaluates the implications of increased trade and financial ties with China for the rest of the world, investigating the conditions facilitating foreign direct investment in China and assessing potential trade disputes as trade between China and the rest of the world grows
China's growing role in world trade by Robert C Feenstra( Book )
15 editions published between 2010 and 2012 in English and Undetermined and held by 289 libraries worldwide
In less than three decades, China has grown from playing a negligible role in world trade to being one of the world's largest exporters, a substantial importer of raw materials, intermediate outputs, and other goods, and both a recipient and source of foreign investment. Not surprisingly, China's economic dynamism has generated considerable attention and concern in the United States and beyond. While some analysts have warned of the potential pitfalls of China's rise - the loss of jobs, for example - others have highlighted the benefits of less expensive goods and services purchased by U.S. consumers along with new market and investment opportunities for U.S. firms. Bringing together an expert group of contributors, "China's Growing Role in World Trade" undertakes an empirical investigation of the effects of China's new status. The essays collected here provide detailed analyses of the microstructure of trade, the macroeconomic implications, sector-level issues, and foreign direct investment. This volume's careful examination of micro data in light of established economic theories eliminates a number of misconceptions, overturns some conventional wisdom, and documents data patterns that enhance our understanding of issues related to China's trade
Does "grease money" speed up the wheels of commerce? by Daniel Kaufmann( Book )
31 editions published between 1999 and 2000 in English and Undetermined and held by 154 libraries worldwide
Is it true that fighting corruption can improve economic efficiency and that fighting bribery can be productive? Not according to this study
The Oxford companion to the economics of China ( Book )
8 editions published in 2014 in English and held by 148 libraries worldwide
This work provides a wide range of perspectives on the past, present, and future of the Chinese economy. The topics covered include: the China model, future prospects for China; China and the global economy; trade and the Chinese economy; macro-economics and finance; urbanization; industry and markets; agriculture and rural development; land, infrastructure and environment; population and Labour; dimensions of well-being and inequality; health, education, and gender equity; regional divergence in China; and a brief look at a selection of China's provinces
Natural openness and good government by Shang-Jin Wei( Book )
32 editions published between 1999 and 2001 in English and Undetermined and held by 142 libraries worldwide
A "naturally more open economy"--As determined by its size and geography - devotes more resources to building good institutions and displays less corruption
Foreign portfolio investors before and during a crisis by U-ch'an Kim( Book )
26 editions published between 1999 and 2000 in English and Undetermined and held by 113 libraries worldwide
Different categories of foreign portfolio investors in Korea have differences as well as similarities in their trading behavior before and during a currency crisis. First, non-resident institutional investors are always positive feedback traders, whereas resident investors were negative feedback (contrarian) traders before the crisis but switch to be positive feedback traders during the crisis. Second, individual investors herd significantly more than institutional investors. Non-resident (institutional as well as individual) investors herd significantly more than their resident counterparts. Third, differences in the Western and Korean news coverage are correlated with differences in net selling by non-resident investors relative to resident investors
Pollution havens and foreign direct investment : dirty secret or popular myth? by Beata K. Smarzynska Javorcik( Book )
32 editions published between 1999 and 2002 in English and held by 100 libraries worldwide
The "pollution haven" hypothesis states that multinational firms, particularly those in highly polluting industries, relocate to countries with weak environmental standards. Despite the plausibility and popularity of this hypothesis, Smarzynska and Wei find only weak evidence in its favor
Limiting currency volatility to simulate goods market integration : a price based approach by David C Parsley( Book )
25 editions published in 2001 in English and Undetermined and held by 99 libraries worldwide
This paper empirically studies the effect of instrumental and institutional stabilization of the exchange rate on the integration of goods markets. An instrumental stabilization of the exchange rate is accomplished through intervention in the foreign exchange market, or by monetary policies. An institutional stabilization, is an adoption a currency board or a common currency. In contrast to the literature that employs data on the volume of trade, an important novelty of this paper is the use of a 3-dimensional panel of prices of 95 very disaggregated goods (e.g., light bulbs) in 83 cities from around the world from 1990 to 2000. We find that goods market integration is increasing over time and is inversely related to distance, exchange rate variability, and tariff barriers. In addition, the impact of an institutional stabilization of the exchange rate provides a stimulus to goods market integration that goes far beyond an instrumental stabilization. Among the institutional arrangements, long-term currency unions demonstrate greater integration than more recent currency boards. All of them can improve their integration further relative to a U.S. benchmark
Open regionalism in a world of continental trade blocs by Shang-Jin Wei( Book )
21 editions published between 1995 and 1998 in English and Undetermined and held by 94 libraries worldwide
Continental trade blocs are emerging in many parts of the world almost in tandem. If trade blocs are required to satisfy the McMillan criterion of not lowering their trade volume with outside countries, they have to engage in a dramatic reduction of trade barriers against non-member countries. That may not be politically feasible. On the other hand, in a world of simultaneous continental trade blocs, an open regionalism in which trade blocs undertake relatively modest external liberalization can usually produce Pareto improvement. In the bilateral trade data for the period 1970-92, there are indeed regions that, while exhibiting an inward trade bias, nevertheless are consistent with this notion of open regionalism
The WTO promotes trade, strongly but unevenly by Arvind Subramanian( Book )
28 editions published between 2003 and 2005 in English and Undetermined and held by 83 libraries worldwide
Contrary to the recent literature that concludes that the GATT/WTO has been completely ineffective in promoting world trade, this paper furnishes robust evidence that the institution has had a powerful and positive impact on trade. The impact has, however, been uneven. GATT/WTO membership for industrial countries has been associated with a large increase in imports estimated at about 44 percent of world trade. The same has not been true for developing country members, although those that joined after the Uruguay Round have benefited from increased imports. Similarly, there has been an asymmetric impact between sectors. These results are consistent with the history and design of the institution
Transparency and international investor behavior by Gaston Gelos( Book )
18 editions published in 2002 in English and Undetermined and held by 72 libraries worldwide
Does country transparency affect international portfolio investment? We examine this and related questions using some new measures of transparency and a unique micro dataset on international portfolio holdings. We distinguish between government and corporate transparency. There is clear evidence that international funds invest systematically less in less transparent countries. On the other hand, herding among funds tends to be more prevalent in less transparent countries. There is also some evidence that during crises, funds flee non-transparent countries by a greater amount
Does insider trading raise market volatility? by Julan Du( Book )
20 editions published in 2003 in English and Undetermined and held by 72 libraries worldwide
This paper studies the role of insider trading in explaining cross-country differences in stock market volatility. It introduces a new measure of insider trading. The central finding is that countries with more prevalent insider trading have more volatile stock markets, even after one controls for liquidity/maturity of the market, and the volatility of the underlying fundamentals (volatility of real output and of monetary and fiscal policies). Moreover, the effect of insider trading is quantitatively significant when compared with the effect of economic fundamentals
The Chinese approach to capital inflows : patterns and possible explanations by Eswar Prasad( Book )
19 editions published in 2005 in English and Undetermined and held by 55 libraries worldwide
In this paper, we adopt a cross-country perspective to examine the evolution of capital flows into China, both in terms of volumes and composition. China's inflows have generally been dominated by foreign direct investment (FDI), a pattern that appears to be favorable in light of the recent literature on the experiences of developing countries with financial globalization. We provide a detailed documentation of the evolution of China's capital controls, a proximate determinant of the pattern of capital inflows. We also discuss a number of other intriguing hypotheses that attempt to capture the "deeper" causes underlying China's approach to capital flows. In particular, we argue that some popular mercantilist-type arguments are inconsistent with the facts. We also analyze the recent rapid rise of China's international reserves and discuss its implications. Contrary to some popular perceptions, the dramatic surge in foreign exchange reserves since 2001 is mainly attributable to non-FDI capital inflows, rather than current account surpluses or FDI
A solution to two paradoxes of international capital flows by Jiandong Ju( Book )
24 editions published in 2006 in English and held by 50 libraries worldwide
International capital flows from rich to poor countries can be regarded as either too low (the Lucas paradox in a one-sector model) or too high (when compared with the logic of factor price equalization in a two-sector model). To resolve the paradoxes, we introduce a non-neoclassical model which features financial contracts and firm heterogeneity. In our model, free patterns of gross capital flow emerge as a function of the quality of the financial system and the level of protection for property rights(i.e., the risk of expropriation. A poor country with an inefficient financial system but a low expropriation risk may simultaneously experience an outflow of financial capital but an inflow of foreign direct investment (FDI), resulting in a small net flow
Das (wasted) kapital : firm ownership and investment efficiency in China by David Dollar( Book )
22 editions published in 2007 in English and held by 39 libraries worldwide
Based on a survey that we designed and that covers a stratified random sample of 12,400 firms in 120 cities in China with firm-level accounting information for 2002-2004, this paper examines the presence of systematic distortions in capital allocation that result in uneven marginal returns to capital across firm ownership, regions, and sectors. It provides a systematic comparison of investment efficiency among wholly and partially state-owned, wholly and partially foreign-owned, and domestic privately owned firms, conditioning on their sector, location, and size characteristics. It finds that even after a quarter-of-century of reforms, state-owned firms still have significantly lower returns to capital, on average, than domestic private or foreign-owned firms. Similarly, certain regions and sectors have consistently lower returns to capital than other regions and sectors. By our calculation, if China succeeds in allocating its capital more efficiently, it could reduce its capital stock by 8 percent without sacrificing its economic growth (and hence could raise its household consumption and deliver a faster improvement to its citizens' living standard)
Collateral damage : exchange controls and international trade by Shang-Jin Wei( Book )
24 editions published in 2007 in English and held by 35 libraries worldwide
While new conventional wisdom warns that developing countries should be aware of the risks of premature capital account liberalization, the costs of not removing exchange controls have received much less attention. This paper investigates the negative effects of exchange controls on trade. To minimize evasion of controls, countries often intensify inspections at the border and increase documentation requirements. Thus, the cost of conducting trade rises. The paper finds that a one standard-deviation increase in the controls on trade payment has the same negative effect on trade as an increase in tariff by about 14 percentage points. A one standard-deviation increase in the controls on FX transactions reduces trade by the same amount as a rise in tariff by 11 percentage points. Therefore, the collateral damage in terms of foregone trade is sizable
Real effects of the subprime mortgage crisis : is it a demand or finance shock? by Hui Tong( Book )
22 editions published between 2005 and 2008 in English and held by 27 libraries worldwide
We develop a methodology to study whether and how a financial-sector crisis can spill over to the real economy, and apply it to the case of the ongoing subprime mortgage crisis. If there is a spillover, does it manifest itself primarily by reducing consumer confidence and consumer demand? Is there also a supply-side channel through a tightened liquidity constraint faced by non-financial firms? Since most firms appear to have much larger cash holdings than in the past, some suggest that a liquidity constraint is not likely to be a significant factor for non-financial firms. We propose a methodology to estimate the importance of these two channels for spillovers. We first propose an index of a firm's sensitivity to a shock to consumer confidence, based on its response to the 9/11 shock in 2001. We then construct a separate firm-level index on financial constraint based on Whited and Wu (2006). As a robustness check, we also construct an alternative sector-level index of a firm's intrinsic demand for external finance, based on the work of Rajan and Zingales (1998). We find robust evidence suggesting that both channels are at work, but that a tightened liquidity squeeze appears to be economically more important than reduced consumer confidence or spending in explaining cross-firm differences in stock price declines
The composition matters : capital inflows and liquidity crunch during a global economic crisis by Hui Tong( Book )
26 editions published between 2004 and 2010 in English and Undetermined and held by 25 libraries worldwide
International capital flows, while potentially beneficial, are said to increase a countrys vulnerability to crisis - especially if they are skewed to non-FDI types. This paper studies whether the volume and composition of capital flows affect the degree of credit crunch faced by a country's manufacturing firms during the 2007-09 crisis. Using data on 3823 firms in 24 emerging countries, we find that, on average, the decline in stock prices was more severe for firms that are intrinsically more dependent on external finance for working capital. The volume of capital flows per se has no significant effect on the severity of the credit crunch. However, the composition of capital flows matters a great deal: pre-crisis exposure to non-FDI capital inflows worsens the credit crunch, while exposure to FDI alleviates the liquidity constraint. Similar results also hold when we perform an event study surrounding the Lehman Brothers bankruptcy
How much of Chinese exports is really made in China? : assessing foreign and domestic value-added in gross exports by Robert B Koopman( file )
1 edition published in 2008 in English and held by 0 libraries worldwide
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Alternative Names
Wei Shang-chin
Wei Shang-Jin
Wei, Shang-Jin 1964-
Wei, Shanjin 1964-
English (402)
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