Foreign Trade and Regional Development in China

This paper puts into focus the regional implications of China's recent open-door policy. The empirical analysis employs a cross-sectional approach with 1986 data. The results suggest that foreign trade is more readily translated into economic development in the most well developed and industrialized eastern coastal provinces.     

ON THE STABILITY OF HOUSING SECTOR INTERACTION: EVIDENCE FROM 42 METROPOLITAN AREAS*

ABSTRACT. Residential vacancy chain models based on White's (1971) application of Markov chain theory are used to simulate flows of housing vacancies through a set of interdependent housing market sectors. Measures of housing sector interaction are derived from such models. Our purpose here is to address the issue of time stationarity raised by their use. U.S. census data are available to calibrate such models at two, and sometimes three, points in time. Data from 42 different SMSAs are used to generate 56 cross-temporal comparisons with interobservation periods ranging from three to eight years. Stability of interaction is addressed from two perspectives–the sectoral perspective and the areawide perspective. Results are mixed and depend upon which measure of interaction is used, which perspective is addressed, and the duration of the interobservation period. However, within limits, findings support continued use of vacancy chain models.