I am a Professor of Applied Economics at the department of economics, school of international economics andtrade in the Shanghai Lixin University of Accounting and Finance (SLUAF). I gained my PhD at University of Birmingham.My research interests are productivity, wage and labor markets with a focus on Asia Pacific and Europe, and has published papers in journals such as New Political Economy, Regional Studies, Journal of Cultural Economics, Policy and Politics, Review of Policy Research, Economic Modelling, Economics Letters andJournal of Economic Issues etc.
This paper investigates the relationship between China’s trade agreements (TAs) and partner count... more This paper investigates the relationship between China’s trade agreements (TAs) and partner countries’ upgrade in global value chains (GVCs). We focus on the experience of China and relate China’s TAs with one belt and one road (OBOR) initiative. A structural equation model (SEM) is applied on a dataset including 216 countries and regions to identify the direct and indirect effects of China’s TAs and OBOR initiative on its export, outwards foreign direct investment (OFDI) and partner economy’ GVCs upgrade over the period 2010–2015. We find that China’s TA partner countries are more likely to be included in the OBOR initiative than those non-TA partner countries. The positive effects of China’s TAs and OBOR initiative on China’s export, outwards foreign direct investment (OFDI) and partner countries’ upgrade in GVCs differ across country groups at the different locations of GVCs. Both vertical and horizontal spillover effects exist in China’s TAs. Therefore, the partner countries at ...
This paper investigates the effect of the One Belt One Road (OBOR) initiative on China’s outward ... more This paper investigates the effect of the One Belt One Road (OBOR) initiative on China’s outward foreign direct investment (OFDI) using a dataset of all host countries for the period of 2010–2015. The employed econometric technique combines a difference-in-differences estimator with matching techniques. The results show that China’s OFDI in OBOR countries is about 40% higher than in non-OBOR countries. After the initiative, the OFDI from China increases by 46.2% in OBOR countries. However, after controlling for the heterogeneity across OBOR and non-OBOR countries using the matching approach, the significance of the increasing effect caused by the OBOR initiative disappears. We also find the OBOR initiative diminishes the resource-seeking motivation and improves the market-seeking motivation of China’s OFDI. Our results cast doubts on the infrastructure-led and institution-based strategy of the OBOR initiative, but support the boosting effect of the OBOR initiative on institutional c...
This paper compares the cyclical behaviour of male real wages in Germany and the UK using the Ger... more This paper compares the cyclical behaviour of male real wages in Germany and the UK using the German Socio-Economic Panel 1984-2009 and the British Household Panel Survey 1991-2009. We distinguish between job stayers (remaining in the same job), and within-and between-company job movers. Stayers are the large majority in both countries. Using changes in the unemployment rate as the cyclical measure, we find real wages of stayers in both private and public sector in West Germany–but only private ...
This paper considers evidence on the impact of ICT on demand for different types of workers, focu... more This paper considers evidence on the impact of ICT on demand for different types of workers, focusing in particular on the age dimension. It first examines data from EUKLEMS using regressions standard in the literature and suggests ICT may have adversely affected older workers, in particular high skilled males aged 50 and over. The paper then uses data from the EU Labour Force Survey, linked to EUKLEMS, to examine whether the observed differences by worker type could be due to variations in on the job training. It shows that ...
This paper investigates the impact of training and education on productivity, in particular linki... more This paper investigates the impact of training and education on productivity, in particular linking to a literature that emphasizes the need to reorganise production following adoption of ICT. The paper examines training at the total economy level and variation across industries, focusing especially on manufacturing versus market service sectors. It also examines the characteristics of those who receive training and outlines the incentives that underlie this.
Firm’s proper acquisition size is still an unresolved question. The extant literatures mention li... more Firm’s proper acquisition size is still an unresolved question. The extant literatures mention little about the determinants of firm’s acquisition size at micro economic level. With recent available data of acquisitions in Chinese stock market (Shanghai and Shenzhen) during 2003-2008, we estimate the effect of institutional ownership on firms’ acquisition size controlling financial and governance characteristics. In an industry fixed effect model, firms’ acquisition size is significantly and positively associated with firm size, Tobin’s Q, leverage ratio, cash holing level and internal capital expenditure. Acquisition size is positively related to some governance characteristics of firms such as board size, independency of board and activity of board, but negatively related to the duality of chairman and CEO. However, annual dividend, management holding, intangible asset, ownership concentration and the identity of ownership seems unrelated to acquisition size. The monitoring effect...
This paper investigates the relationship between China’s trade agreements (TAs) and partner count... more This paper investigates the relationship between China’s trade agreements (TAs) and partner countries’ upgrade in global value chains (GVCs). We focus on the experience of China and relate China’s TAs with one belt and one road (OBOR) initiative. A structural equation model (SEM) is applied on a dataset including 216 countries and regions to identify the direct and indirect effects of China’s TAs and OBOR initiative on its export, outwards foreign direct investment (OFDI) and partner economy’ GVCs upgrade over the period 2010–2015. We find that China’s TA partner countries are more likely to be included in the OBOR initiative than those non-TA partner countries. The positive effects of China’s TAs and OBOR initiative on China’s export, outwards foreign direct investment (OFDI) and partner countries’ upgrade in GVCs differ across country groups at the different locations of GVCs. Both vertical and horizontal spillover effects exist in China’s TAs. Therefore, the partner countries at ...
This paper investigates the effect of the One Belt One Road (OBOR) initiative on China’s outward ... more This paper investigates the effect of the One Belt One Road (OBOR) initiative on China’s outward foreign direct investment (OFDI) using a dataset of all host countries for the period of 2010–2015. The employed econometric technique combines a difference-in-differences estimator with matching techniques. The results show that China’s OFDI in OBOR countries is about 40% higher than in non-OBOR countries. After the initiative, the OFDI from China increases by 46.2% in OBOR countries. However, after controlling for the heterogeneity across OBOR and non-OBOR countries using the matching approach, the significance of the increasing effect caused by the OBOR initiative disappears. We also find the OBOR initiative diminishes the resource-seeking motivation and improves the market-seeking motivation of China’s OFDI. Our results cast doubts on the infrastructure-led and institution-based strategy of the OBOR initiative, but support the boosting effect of the OBOR initiative on institutional c...
This paper compares the cyclical behaviour of male real wages in Germany and the UK using the Ger... more This paper compares the cyclical behaviour of male real wages in Germany and the UK using the German Socio-Economic Panel 1984-2009 and the British Household Panel Survey 1991-2009. We distinguish between job stayers (remaining in the same job), and within-and between-company job movers. Stayers are the large majority in both countries. Using changes in the unemployment rate as the cyclical measure, we find real wages of stayers in both private and public sector in West Germany–but only private ...
This paper considers evidence on the impact of ICT on demand for different types of workers, focu... more This paper considers evidence on the impact of ICT on demand for different types of workers, focusing in particular on the age dimension. It first examines data from EUKLEMS using regressions standard in the literature and suggests ICT may have adversely affected older workers, in particular high skilled males aged 50 and over. The paper then uses data from the EU Labour Force Survey, linked to EUKLEMS, to examine whether the observed differences by worker type could be due to variations in on the job training. It shows that ...
This paper investigates the impact of training and education on productivity, in particular linki... more This paper investigates the impact of training and education on productivity, in particular linking to a literature that emphasizes the need to reorganise production following adoption of ICT. The paper examines training at the total economy level and variation across industries, focusing especially on manufacturing versus market service sectors. It also examines the characteristics of those who receive training and outlines the incentives that underlie this.
Firm’s proper acquisition size is still an unresolved question. The extant literatures mention li... more Firm’s proper acquisition size is still an unresolved question. The extant literatures mention little about the determinants of firm’s acquisition size at micro economic level. With recent available data of acquisitions in Chinese stock market (Shanghai and Shenzhen) during 2003-2008, we estimate the effect of institutional ownership on firms’ acquisition size controlling financial and governance characteristics. In an industry fixed effect model, firms’ acquisition size is significantly and positively associated with firm size, Tobin’s Q, leverage ratio, cash holing level and internal capital expenditure. Acquisition size is positively related to some governance characteristics of firms such as board size, independency of board and activity of board, but negatively related to the duality of chairman and CEO. However, annual dividend, management holding, intangible asset, ownership concentration and the identity of ownership seems unrelated to acquisition size. The monitoring effect...
This paper examines the effect of shifts in the relative supply and demand of skills on the skill... more This paper examines the effect of shifts in the relative supply and demand of skills on the skill premiums and wage inequality in the British labour market 1972-2002. We test the Katz and Murphy (1992) hypothesis that the changes of skill premiums can be explained by their relative supply shifts, given stable or steadily growing relative demand. Alternatively, Machin (2001) hypothesis holds if the changes of skill premiums can be explained by relative demand shifts, given stable or steadily growing relative supply. From co-variation of relative skill wages and relative labour supplies of skills, we reject the hypothesis that the relative labour demand for skill is stable over time for either males or females. By using detrended relative skill wages and supplies, we infer that the acceleration of relative demand for skills caused a positive association between relative skill wages and labour supplies for males in the 1980s and the 2000s, and for females after the 1970s. Hence, the st...
This paper analyses wage flexibility in Chinese labor market over the period 1989-2009. Labor res... more This paper analyses wage flexibility in Chinese labor market over the period 1989-2009. Labor restructuring and rural-urban migration have impact on wage flexibility in Chinese dual-track system. Workers with weak bargaining power have rigid wages over the inside-track business cycle proxied by the registered unemployment rates and suffer coordination failures. However, their wages are responsive to the outside-track business cycle proxied by the survey-based unemployment. Results from Heckman selection, dynamic spatial panel and non/semi-parametric models reconfirm a transition labor market with segmentation and monopsony and call for further reform aiming to flexible wages for all participants.
This chapter investigates the impact of training and education on productivity, in particular lin... more This chapter investigates the impact of training and education on productivity, in particular linking to a literature that emphasizes the need to reorganise production following adoption of ICT.
We examine impacts on productivity at the total economy level but also considers if the link between training and productivity varies across industries, focusing especially on manufacturing versus market service sectors. It also examines the characteristics of those who receive training and outlines the incentives that underlie this.
However, improvements in relative productivity performance may or may not translate into improved competitiveness as trends in relative productivity may be offset to some extent by trends in nominal input prices and/or market exchange rates. The report ends therefore with an analysis of unit labor costs comparing EU countries and China with the US.
We analyse real wage adjustment over the business cycle using panel data for Germany and Britain.... more We analyse real wage adjustment over the business cycle using panel data for Germany and Britain. Real wages being sensitive to unemployment means adverse shocks result in wage adjustments rather than unemployment. Germany has more centralised wage-setting institutions which might contribute to lower real wage sensitivity, and thus more unemployment
This paper considers evidence on the impact of ICT on demand for
different types of workers, foc... more This paper considers evidence on the impact of ICT on demand for
different types of workers, focusing in particular on the age
dimension. It first examines data from EUKLEMS using regressions standard in the literature and suggests ICT may have adversely affected older workers, in particular high skilled males aged 50 and over. The paper then uses data from the EU Labour Force Survey, linked to EUKLEMS, to examine whether the observed differences by worker type could be due to variations in on the job training. It shows that training linked to ICT use can explain some of the wage variation and that reluctance by older men to undertake training has a role as well as lower offers of training by firms.
In this paper, we aim to analyze the links between labour market institutions and the skill (educ... more In this paper, we aim to analyze the links between labour market institutions and the skill (education) premium.
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Papers by Fei Peng
We examine impacts on productivity at the total economy level but also considers if the link between training and productivity varies across industries, focusing especially on manufacturing versus market service sectors. It also examines the characteristics of those who receive training and outlines the incentives that underlie this.
However, improvements in relative productivity performance may or may not translate into improved competitiveness as trends in relative productivity may be offset to some extent by trends in nominal input prices and/or market exchange rates. The report ends therefore with an analysis of unit labor costs comparing EU countries and China with the US.
different types of workers, focusing in particular on the age
dimension. It first examines data from EUKLEMS using regressions standard in the literature and suggests ICT may have adversely affected older workers, in particular high skilled males aged 50 and over. The paper then uses data from the EU Labour Force Survey, linked to EUKLEMS, to examine whether the observed differences by worker type could be due to variations in on the job training. It shows that training linked to ICT use can explain some of the wage variation and that reluctance by older men to undertake training has a role as well as lower offers of training by firms.