Intangible capital distribution in China
Long Hai Vo and
Economic Systems, 2019, vol. 43, issue 2, -
This paper aims to examine the distribution dynamics of intangible capital investment across Chinese regions and hence contributes to the understanding of China’s regional development. A nonparametric approach is adopted to investigate the long-run distribution dynamics. Intertemporal dynamics and spatial conditional dynamics are analysed to explore the impacts of the global financial crisis and knowledge spill-over on intangibles’ distribution. It is shown that the formation of convergence clusters persists in the long run. High levels of investment tend to be concentrated in a few coastal regions while investment in most Chinese regions is projected to be low. External shocks exert an adverse effect: The post-global financial crisis transition dynamics indicate that most regions tend to converge towards a lower level than the pre-crisis dynamics imply. Finally, knowledge spill-over in the context of intangibles is identified to be an important factor that helps mitigate regional imbalance.
Keywords: Economic growth convergence; Intangible capital; Distribution dynamics; Mobility probability; China (search for similar items in EconPapers)
JEL-codes: O16 R11 C14 (search for similar items in EconPapers)
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Working Paper: Intangible Capital Distribution in China (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecosys:v:43:y:2019:i:2:5
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