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Begin New Search Topic Government Publishing Institution Walter H. Shorenstein Asia-Pacific Research Center

21. The Politics of China's Shareholding System

Author:
Mary Comerford Cooper
Publication Date:
06-2003
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
This paper considers two questions. First, why did the Chinese government establish stock markets? Second, how have political interests shaped the key features of these markets? Based on both interviews and statistical analysis, the paper argues that China's top Party-State leaders attempted to create stock market institutions that allow the state to maintain control over listed companies, and over “the market” as a whole.
Topic:
Economics and Government
Political Geography:
China, Israel, East Asia, and Asia

22. Local Governments and the Chinese Stock Market

Author:
Mary Comerford Cooper
Publication Date:
04-2003
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
This paper examines a key aspect of the politics of stock markets in China—the distinct differences in interests between central government leaders and local governments. Central government leaders have a powerful incentive to promote macroeconomic stability and good performance of the stock market. Local leaders, for their part, are less concerned with the overall performance of the stock market than with gaining access to the stock market for companies under their own jurisdiction. The paper demonstrates that company listing brings tangible economic benefits to municipalities. Listed companies are associated with higher levels of gross domestic product (GDP), budgetary revenue, and industrial and commercial tax revenue. Therefore, it is not surprising that local officials put substantial effort into lobbying for the right to list additional companies on the national stock exchanges.
Topic:
Communism, Democratization, Economics, and Government
Political Geography:
China and Asia

23. Sociological Dimensions of China's Economic Transition: Organization, Stratification, and Social Mobility

Author:
Andrew G. Walder
Publication Date:
04-2003
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
Despite skepticism about official economic statistics, there is little doubt that China since 1978 has undergone an economic transformation of historic proportions. This outcome stands in stark opposition to arguments that were once widely accepted in several scholarly communities, and which are still highly influential even today. In the early 1980s there was wide agreement that “partial” reform, under a single party dictatorship that sought indefinitely to preserve public ownership, was a recipe for failure. China specialists, students of comparative economic systems, and economists who advised governments and international agencies about postcommunist restructuring in Eurasia were initially in broad agreement on this point.
Topic:
Economics, Government, and Politics
Political Geography:
China and Asia

24. International Organizations and Democratization: Testing the Effect of GATT/WTO Membership

Author:
Mary Comerford Cooper
Publication Date:
04-2003
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
Does the World Trade Organization promote democracy? A large part of the heated and protracted debate over China's application for WTO membership revolved around this question. Prior to China's WTO accession in December 2001, this debate had dragged on for nearly fifteen years. While one side argued that WTO membership would promote democratization in China, others argued that the wealth generated through economic integration would provide the resources to maintain authoritarian rule. Only time will tell whether WTO accession will contribute to pressures for democratization in China. In the meantime, however, this paper examines the empirical basis for these competing claims about the effects of GATT/WTO memberships on domestic political systems. Based on statistical analysis of a global data set, this paper concludes that members of the international trade regime are more likely than nonmembers to be democracies. However, there is little evidence that WTO membership in itself can promote democratic transition. Instead, it appears to be the case that democratic countries are more likely to seek to join the WTO.
Topic:
Communism, Democratization, Economics, and Government
Political Geography:
China and Asia

25. Politics and Property in Transitional Economies: A Theory of Elite Opportunity

Author:
Andrew G. Walder
Publication Date:
04-2003
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
Command economies gave communist-era elites administrative control and material privilege but severely restricted money income and private wealth. Markets and privatization inject new value into public assets and create unprecedented opportunities for elite insiders to extract incomes or assume ownership. These opportunities vary with the extensiveness of regime change and the barriers to asset appropriation. Within these limits, they further vary with the concentration and form of economic assets and structural changes induced by reform. Elite advantages are smallest where regime change is extensive and barriers to asset appropriation are high, and in small-scale economies that grow rapidly. In China, there has been no regime change and privatization has been delayed and slow. In the rural economy, elites keep their posts as a source of economic advantage, while low entry barriers to household enterprise and rapid growth have created new entrepreneurial elites. After two decades, rural officials nonetheless enjoy large net income advantages that grow along with the expansion of labor markets and private entrepreneurship. These are not generic outcomes of market reform, but the product of market reform in distinctive political and structural conditions.
Topic:
Communism, Economics, Government, and International Trade and Finance
Political Geography:
China and Asia

26. Cosmopolitan Cities and Nation States: Open Economics,Urban Dynamics, and Government in East Asia

Author:
Thomas P. Rohlen
Publication Date:
02-2002
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
This essay is about the pivotal role cities play in the current pattern of social, cultural, and political change in East Asia. Its starting premise is that the postwar era of nation state building and state-led change is ending and a different era—one that centers on global capitalism and new technological capacities—has been steadily emerging in the region over the last several decades. At the vortex of these new forces we find big, successful cities. In such cities, the forces of capitalism, cultural cosmopolitanism, and new technologies combine critically in a turbulent and heady new mix. As a result, while the effectiveness of state initiatives decreases, and government is under pressure to reform, privatize, and decentralize, the dynamic (and typically coastal) cities of East Asia are the center of powerful economic and cultural forces for change, and the source of alternative political agendas. Simultaneously, due to their rapid expansion, these cities have also become the locus of giant new problems for public management.
Topic:
Government, International Political Economy, and Sovereignty
Political Geography:
East Asia and Asia

27. Future Prospects for the U.S. Defense Budget and Their Implications for Our Asian Alliance Commitments

Author:
Andrew Krepinevich
Publication Date:
08-1997
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
This talk addresses two issues. First, given the level of American defense spending, are there enough resources available to sustain the U.S. presence in East Asia, over the long term, along the lines of the current commitment of approximately 100,000 troops? Second, even if there is adequate funding to maintain forward deployed troops, are these the kinds of investments we ought to be making, given the transformations we are seeing in the geopolitical environment and, I would argue, the military-technical environment? Will these investments, in other words, achieve American security objectives in East Asia over the next ten to twenty years?
Topic:
Security, Foreign Policy, Defense Policy, and Government
Political Geography:
United States, America, Israel, East Asia, and Asia