Listed April 2002
Harvie C., University of Wollongong

Economic Transition: What Can Be Learned from China's Experience? (PDF)

The last decade of this century has witnessed the transition of the formerly centrally planned economies of Europe and Asia to market economies, a process affecting some 1.7 billion people in 28 countries. While much agreement exists on the sorts of reform measures required, disagreement exists over their sequencing. The economic and social performance of these transition economies has varied considerably and for a variety of reasons, however China's performance, in particular, has been outstanding. The paper reviews the reform measures required for economic transition, and alternative sequencing approaches to these reforms. It conducts an overview of the performance of the transition economies, with focus placed upon the experience of the Chinese economy. An analysis of China's approach to economic reform, its key components, major outcomes and outstanding issues are discussed. Key lessons to be derived for other transition economies from China's experience are also presented.

Listed April 2002
Cheung, L.; Levy, A. (University of Wollongong)
An Integrative Analysis of Business Bankruptcy in Australia
(PDF)

This paper proposes an integrative and dynamic approach for analyzing business failure. The simulaneous estimation results obtained with Australian data indicate significant associations between bankruptcy rates in different industries. Most of these associations are positive and hence implying that bankruptcy in one industry can inflict a "domino" effect on other industries.

Listed April 2002
Webber, A. (University of Wollongong)
Newton's Gravity Law and Import Prices in the Asia Pacific
(PDF)

(No abstract)

Listed April 2002
Harvie, C. (University of Wollongong)
China's Township and Village Enterprises and their Evolving Business Alliances and Organizational Change
(PDF)

The economic literature suggests that the success of China's WEs has arisen due to special circumstances. This paper argues, to the contrary, that they are likely to remain a significant feature of the Chinese economy, albeit in new organisational and ownership forms, for some time. Their evolving strategic business alliances, including that with science based research institutions, it is argued, will make this possible.

Listed April 2002
Harvie, C. (University of Wollongong)
China's Economic Growth Slowdown: Causes, Consequences and Policy Options
(PDF)

During its reform era China has experienced, and become accustomed to, high rates of economic growth, and rapid jobs growth particularly in the rural collectives and, more recently, private enterprises. Strong fixed asset investment and consumer demand in conjunction with a strong growth of net exports, provided the foundations for this. However during the latter part of 1997, after four years of monetary austerity measures, there were worrying signs that the growth of the economy was slowing considerably, primarily from a weakening of consumer and investment demand.

Listed April 2002
Hodgkinson, A. (University of Wollongong)
The Industrialisation Process of Asian Small and Medium Firms
(PDF)

National governments throughout the Asia-Pacific Region have identified small and medium enterprises as an important source of economic growth and employment. In the past, SME business strategies have focused on production, relying on their subcontracting and sales contacts with large firms for technological innovation and marketing and on abundant domestic labour forces for comparative advantage. Recently, structural problems in the region arising from the Japanese recession, currency appreciation and rising labour costs have upset these relationships forcing SMEs to move offshore (DFI) to restore cost competitiveness and to upgrade their internal technological and organisational capacities to international standards in order to compete for contracts within more open, international markets. This paper analyses this process of change, analysing the development of SMEs within four Asian countries using a six stage evolutionary model. The majority of SMEs in these countries are still in the earlier second (dependency) or third (internalisation) stages. The more advanced SMEs have moved into the fourth (externalisation) stage, where firms develop independent technology and marketing capacities. To the extent that localisation (stage five) had occurred, it involved local embedded relationships which had limited scope for further internationalisation. Little evidence of regional integration or networking among SMEs was found.