China Economic Quarterly Best Paper Award (2013-2014)


 date:2015-4-30 16:32:00 source:BiMBA         

 

China Economic Quarterly 2013-2014Volume 13

Dr. Werner Jackstädt Best Paper Award for Chinese Economic and Business Studies

 

 

The China Economic Quarterly 2013-2014Volume 13Dr. Werner Jackstädt Best Paper Award for Chinese Economic and Business Studies goes to Can Growing Housing Prices Explain High Household Saving Rates in Urban China? An Empirical Analysis Using CHIPs Data, published in No.1, Volume 13, authored by Xiliang Zhao(School of Economics, Xiamen University), Wenquan Liang(School of EconomicsFudan University University), Shi Li (Business School, Beijing Normal Univeristy) 130104.pdf

 

Xiliang Zhao

Wenquan Liang

Shi Li

 

Remarks from the Award Committee

 

The Chinese saving puzzle has been an interesting issue that attracts much academic attention. This empirical paper investigates the relation between rising housing price and China’s high saving puzzle using 2002 and 2007 waves of CHIPs survey. Contradicting to the common sense of “saving for housing” , rising housing price lowers the saving rate of non-homeowner household. It also lowers the saving rate of homeowners, particularly multiple-home owners due to the wealth effect. Overall, there exists a significant negative relation between rising housing price and saving rate. The immediate implication is that rising housing price is not a promising direction to solve the Chinese saving puzzle. One has to find another way to solve the puzzle. There is no fancy econometrics in this paper yet conclusions are convincing due to authors’ effort in controlling other factors such as sex ratio and income volatility. I believe this is a welcome addition to the empirical work on Chinese economics.

 

China Economic Quarterly 2013-2014Volume 13Dr. Werner Jackstädt Annual Best Paper Award Nominees(in random order):

 

1)   Xiliang Zhao, Wenquan Liang, Shi Li, Can Growing Housing Prices Explain High Household Saving Rates in Urban China? An Empirical Analysis Using CHIPs Data , Vol.13 No 1 pp. 81-102;130104.pdf

2)   Xiaoguang Liu, Feng Lu,The Puzzle of Rising Capital Returns in China,Vol.13 No. 3 pp. 817-835;130216.pdf

3)   Xiaofang Dong, Yan Yuan , Firm InnovationLife Cycle and Agglomeration Economies, Vol.13, No.2. pp. 767-792.130301.pdf

 

Introduction to the China Economic Quarterly Dr. Werner Jackstädt Best Paper Award for Chinese Economic and Business Studies

 

In order to encourage high-quality economic research, China Economic Quarterly set up the Annual Best Paper Award since its inception. Each year one paper is selected as the best paper from the volume published in that year. Starting in 2010, the award is renamed as Dr. Werner Jackstädt Best Paper Award for Chinese Economic and Business Studies, and from 2014 the prize is set to RMB 40,000 yuan.

The winner is decided by majority votes on the nominated papers from the award committee, which is comprised of the four editors of China Economic Quarterly and Prof. Dr. Carsten Herrmann-Pillath from the East-West Centre for Business Studies and Cultural Science, Frankfurt School of Finance & Management.

This award is financially sponsored by the Dr. Jackstädt Foundation and supported by The East West Centre for Business Studies and Cultural Science at Frankfurt School.

Dr. Jackstädt was an entrepreneur who had made outstanding contribution to the post-war German economic miracle. The mission of the Dr. Jackstädt Foundation is to support the research in the field of medicine and management science, and to help the development of Wuppertal, Dr. Jackstädt’s hometown (which is also the hometown of Engels).

 
 
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