China's Miracle in Foreign Trade

Intro -- Preface -- Contents -- List of Figures -- List of Tables -- Part I Overview -- 1 China's Opening-Up Policies: Achievements and Prospects -- 1.1 Introduction -- 1.2 Expanding the Extensive Margin of Opening, 1978-2000 -- 1.2.1 Setting Up Open Economic Zones and Industrial Parks -- 1.2.2 Relaxing Market Access for Foreign Direct Investment -- 1.2.3 Reducing Import Tariffs -- 1.2.4 Encouraging the Processing Trade -- 1.2.5 Comments on the Stage of Extensive-Margin Opening -- 1.3 Focusing on the Intensive Margin of Opening, 2001-2017 -- 1.3.1 Accession to the WTO -- 1.3.2 Expanding Market Access for FDI -- 1.3.3 Relaxation of Outward FDI -- 1.3.4 Establishment of Pilot Free Trade Zones -- 1.3.5 New-Economy Pilot Cities Experiment -- 1.3.6 Comments on the Stage of Intensive Margin of Opening Up -- 1.4 Features of the All-Around Opening Up -- 1.4.1 Belt and Road Initiative -- 1.4.2 Free Trade Ports Experiment -- 1.4.3 Greater Bay Area -- 1.4.4 Policy Recommendations -- 1.5 Conclusion -- Part II Import Substitution and Trade Protection -- 2 The Economics of Price Scissors: An Empirical Investigation for China -- 2.1 Introduction -- 2.2 Price Scissors in China -- 2.3 The Theoretical Framework -- 2.4 The Econometric Model -- 2.4.1 Agricultural Trade -- 2.4.2 Relative Agricultural Price Elasticity of Wage -- 2.5 Data and Empirical Results -- 2.5.1 Benchmark Estimates -- 2.5.2 Endogeneity and Instruments -- 2.5.3 Robustness Checks -- 2.5.4 Identification of the Weights -- 2.6 Concluding Remarks -- Appendix -- 3 Measuring the Impact of Trade Protection on Industrial Production Size -- 3.1 Introduction -- 3.2 The Empirical Model -- 3.3 Data and Estimate Results -- 3.4 Concluding Remarks -- Part III Export-Led and Firm Productivity -- 4 China's Processing Trade: A Firm-Level Analysis -- 4.1 Introduction.