题目： Cultural Values and Savings Behavior in China: Evidence from China Family Panel Studies / The economic and financial integration of the Great Bay Area of China

时间：2021年7月22日上午9点，7月26日上午9点

地点：腾讯会议（ID:781749963）

报告人： CHAN, Kenneth Shunyuen (陈顺源)

报告人简介：

ACADEMIC BACKGROUND

Ph.D. Economics. Brown University 1977

M.A. Economics. Brown University 1973

B.A. Sc. (Engineering). University of Toronto 1969

RESEARCH INTEREST

International Trade and Finance

Experimental Economics

Economic Institutions and Development

China Economy

EMPLOYMENT HISTORY:

Professor Emeritus, McMaster University, 2008 - present.

Visiting Research Professor, Chu Hai College of Higher Education, Hong Kong (2018-present)

Visiting Professor (2011- 2017): Lingnan College, Sun Yat-San University (2011- 2014); University of Macau (2011-2017).

Head and Professor, Department of Economics and Finance, City University of Hong Kong. 2008 – 2011 (retired, since summer 2011)

Associate Dean, Faculty of Business, City University of Hong Kong 2007 - 2008

Professor, Department of Economics and Finance, City University of Hong Kong, 2006- 2011.

Professor, Department of Economics, McMaster University 1988 - 2007.

Associate Professor, Department of Economics, McMaster University 1980-1988

Assistant Professor, Department of Economics, Saint Mary's University 1976-80

WORKING PAPERS

Chan, K.S., Lei Chen, and Tingting Li “The Trilemma and the Global Financial Shocks:

A Re-assessment” Revised November 2019.

Chan, K.S., C.H. Lu and B. Qu “the Silk road: a Model of Luxury Goods Trade between Imperial China and Medieval Europe in the Tang and Song dynasties” 2009 . 35 pages

Chan, K.S. “ Is there a theory of economic development in Yijing (the book of changes)? Institution versus Geography nexus” 2011, 27 pages

‘Trade Policy Schedules and Retaliations’ 16 pages, revised Fall 2011

报告摘要：

第一次讲座内容：

Cultural Values and Savings Behavior in China: Evidence from China Family Panel Studies

CHAN, Kenneth Shunyuen

Abstract:

This research investigates the impact of cultural values on savings behavior, which could explain the high savings puzzle in China. According to Hotsfede (1980, 2001, 2002) and others, one important dimension of culture is the distinction between Collectivist and Individualist culture. Researchers argue that households under Collectivist culture tends to save more than those under the Individualist culture. Chinese culture, by and large, is considered as a Collectivist culture. But, China is a large country with different ethnicities and cultures. Geographically, there are rice growing, wheat growing and herding provinces. From the conventional wisdom, geography determines the evolution of cultural values of the region over the course of history: The rice growing regions require much more cooperative effort (collectivist) among farmers for irrigation, harvesting, pest control, defense, etc., than those from wheat growing or herding regions (Henrich (2014); Talhelm et al.(2014) Putterman-Weil, (2010; etc.)). This research confirms the prediction of this theory that households in rice growing provinces in China are more collectivist and save more than other regions from China’s household survey panel data.

第二次讲座内容：

Title: Clusters (Agglomeration) and the Great Bay Area Development

Kenneth S. Chan

Abstract

The theories of clusters or agglomeration are useful references for the economic development of the Greater Bay Area (GBA).

First, the GBA can be developed to a tech cluster region in accordance with its Comparative Advantage. The internal and external economies of scale and scope in a cluster economy would be valuable for a new Global Value Chain economy (GVC).  Gary Gereffi (2011) observed a statistical U-shape relationship between the values added within the process of the GVC. The beginning and the ending process in the GVC has the highest value added. The growth of the production value chains could be further enhanced from the fractionalization of the production process within the GBA.

Second, as the tech cluster economy grows, the GBA could implement its own digital currency exclusively for the use of the GBA. The GBA digital currency could also float against the RMB. As the tech sector is extremely volatile, the GBA would frequently face large fluctuations in inflation and unemployment. The benefit of floating the GBA digital currency with the RMB is that it would insulate the rest of the Chinese economy from the shocks generated by the tech sector in the GBA, while a common national RMB would not.

Finally, for the planning purpose, a study on the cost structure of different areas within the GBA would be useful. (A), A Wage Differential Study: A panel Purchasing Power Parity estimation would indicate the possible movement of labor and growth potential for each area within the GBA. (B), A “Net Saving (saving minus investment) Differential Study: This study would reveal the capital movements or the financial flows within the GBA.