Date: Oct.28^th, 2019

Time: 14:00

Speaker: Maria Csanádi

Venue: Room 266, Mong Man Wai Building, Zijingang Campus

【Speaker Intro】

Maria Csanádi is a research advisor at the Institute of Economics of the Hungarian Academy of Sciences. Her main research interest is the comparative political economy of communist systems both on empirical and on theoretical grounds. She has published many papers on New Financial and Economic Review, Foreign Theoretical Trends, Behavioral Science, East European Politics and Societies, China and World Economy, etc.

【Abstract】

In this paper we summarize the subtle dynamics of enterprise adaptation to external shocks according to system specifics. System-specific characteristics under examination were the changing dynamics of Chinese system transformation and over-investment fluctuations after major state interventions reacting to external shock. Enterprise adaptation is measured by industrial firms’ intensity of entries and exits combined with their differentiated individual characteristics such as ownership and size, or registration to central and local levels, regarding sales, revenues, taxes, long-term liabilities, and subsidies. We conclude that increasing frequency of entries and exits are interconnected with booms and coolings of over-investments, with the pulsation in the acceleration and slow-down of the dynamics of transformation, and the selectivity of sensitivity during these adaptation processes according to ownership and size and sectors and level of subordination. Differences in the flexibility of adaptation are compared between 1987 and 2013 in transforming China, before, during and after the Global Crisis.