Global experience. Рубрика в журнале - Economic and Social Changes: Facts, Trends, Forecast
Статья научная
Entrepreneurship belongs to the category of initial distribution of income. The article raises questions whether entrepreneurship plays a positive role in the process of achieving the overall welfare of Chinese farmers, whether it contributes to increasing the level of their relative income and whether it can increase their subjective happiness. A theoretical hypothetical model “farmer entrepreneurship - relative income level - happiness” is constructed, and empirical analysis is carried out based on the data of the “Thousand Villages Survey” project, implemented by Shanghai University of Finance and Economics. First, we consider the impact of entrepreneurship on raising the level of relative income of Chinese farmers; then we analyze the impact of entrepreneurship on their sense of happiness. Finally, we use the mediator effect model to test the role of relative income level as a mediator in the process of influence of entrepreneurship on farmers’ sense of happiness. The study has found that across China entrepreneurship does indeed contribute to the increase in the level of farmers’ relative income, demonstrating the “enrichment effect”; it also contributes to the increase in their level of subjective sense of happiness, demonstrating the “happiness effect”; and the level of relative income plays a partial mediating role in this process. Thus, the sense of happiness of farmers engaged in entrepreneurship arises due to an increase in the level of their relative income and also due to the process of entrepreneurial activity itself. On this basis, it is recommended that state authorities and relevant structures actively promote the concept of “mass entrepreneurship and innovation” in rural areas, create a favorable environment for rural entrepreneurship, encourage farmers to become entrepreneurs, and promote the concept of “mass entrepreneurship and innovations” for rural entrepreneurship, encourage farmers to do business in order to increase their relative income and enhance their sense of happiness, thereby contributing to the overall financial and spiritual well-being of rural residents.
Бесплатно
Trade and investment interactions in the Asia-Pacific Region: Effects of integration agreements
Статья научная
The aim of the work is to provide a long-term assessment of the impact of integration agreements on trade and investment interactions between Asia-Pacific countries in 1992–2023. It is determined that the Asia-Pacific region accounts for the largest share of trade and investment interactions worldwide, with intraregional trade in goods and direct capital flows being the main source. The study shows that, in terms of reducing trade and economic barriers between countries, integration agreements can be classified into shallow and deep agreements, with the Asia-Pacific region taking the lead in their creation. Based on a database compiled from various sources on trade and capital flows between Asia-Pacific countries, and using gravity modeling, the long-term cumulative effects of shallow and deep integration agreements on trade and the inflow of accumulated foreign direct investment (FDI) are estimated. The general stimulating effect of integration agreements on trade among Asia-Pacific countries was identified as increasing trade by an average of 21.9%, while their influence on FDI inflow was found to be invariant. We found that shallow integration agreements between Asia-Pacific countries reduced FDI inflows by 47.5% and promoted trade growth by 46.0%; as for deep integration agreements, they increased trade volumes between Asia-Pacific countries by 15.5% and FDI inflows by 23.6%. It was shown that, within the Asia-Pacific region, shallow and deep integration agreements conflicted with each other in terms of attracting FDI. Due to the suppression of FDI inflows by trade in goods and the longer duration of shallow agreements, their long-term cumulative trade effect was greater than that of deep agreements. Deep integration agreements encouraged both trade and direct capital flows between Asia-Pacific countries, pointing to the creation of conditions for complementarity between trade and FDI within more advanced formats of economic convergence aimed at reducing production cooperation costs. Unlike trade, FDI exchange in the Asia-Pacific region proved to be more sensitive to existing barriers to economic interaction and less flexible toward recipient countries of such investments
Бесплатно
