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Article
Publication date: 2 October 2017

Ya-Wen Cheng, Su-Ying Hsu and Chu-Ping Lo

Third-party payments were first introduced by the US firm PayPal. Soon after, China developed a localized version of PayPal – Alipay, which became the main payment method for…

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Abstract

Purpose

Third-party payments were first introduced by the US firm PayPal. Soon after, China developed a localized version of PayPal – Alipay, which became the main payment method for online transactions in China. Currently, the number of global transactions conducted with Alipay is three times that of PayPal. In addition to online transactions, Alipay also integrates with mobile payment applications to provide offline services, making physical transactions more convenient for users. The authors, in this paper, aim to address how third-party payments technology seems to be playing out an innovation-imitation-catch up story.

Design/methodology/approach

Krugman (1966) proposed a general-equilibrium model of product cycles under perfect competition where high-tech products are innovated by an “advanced” country and imitated by a “developing” country. The competition between US–China online technologies (e.g. third-party payments) seems to be playing out this innovation-imitation-catch up story.

Findings

The USA has already put a lot of effort into the operations of credit cards and checks, as well as other infrastructure such as human resources and installation of relevant systems. China lacks the infrastructure for payments made with credit cards and checks, and therefore China’s opportunity cost of moving directly from cash transactions to third-party payments is much less than that of the USA, which is why China holds follower advantage in third-party payment markets.

Originality/value

The third-party payment technologies appear to be a good example of the argument made by Krugman (1966) regarding the US–China competition on advanced technology, which states that an imitator can catch up with an inventor when the former acquires comparative advantages against the latter.

Details

Journal of Chinese Economic and Foreign Trade Studies, vol. 10 no. 3
Type: Research Article
ISSN: 1754-4408

Keywords

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Article
Publication date: 16 November 2012

Chu Ping Lo

There is great conflict between some developed countries and developing countries regarding attitudes toward reducing global warming (e.g. the USA vs China). The aim of this paper…

968

Abstract

Purpose

There is great conflict between some developed countries and developing countries regarding attitudes toward reducing global warming (e.g. the USA vs China). The aim of this paper is to argue that open trade doesn't necessarily increase world pollution if clean development mechanism (CDM) is generously undertaken and if the CDM devotes considerable real resources in transfers of the associate abatement technology.

Design/methodology/approach

The impacts of trade on environment can be decomposed into scale, technique and composition effects. This paper incorporates abatement assets into Copeland and Taylor's model to argue that the technique effect stems from an increasing in pollution taxes and in international diffusion of abatement technology; however, the former is fully offset but the latter is facilitated by the CDM.

Findings

While world pollution is jointly determined by the composition and technique effects, in contrast to literature, open trade doesn't necessarily increase world pollution if CDM is generously undertaken with considerable real resources in abatement technology transfers.

Originality/value

Currently, there are more than about one half of the CDM projects that allocate no real resources in technology transfers. This study addresses how voluntary investment of the CDM from the North (e.g. the USA) to the South (e.g. China) might reduce pollution on a global level only if having “generously” technology transfer.

Details

China Agricultural Economic Review, vol. 4 no. 4
Type: Research Article
ISSN: 1756-137X

Keywords

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Article
Publication date: 2 February 2010

Chu‐Ping Lo

The purpose of this paper is to present a simple model to demonstrate how a trade‐off between incomplete contract distortions and excessive governance costs determine an…

493

Abstract

Purpose

The purpose of this paper is to present a simple model to demonstrate how a trade‐off between incomplete contract distortions and excessive governance costs determine an agricultural firm's organizational choices.

Design/methodology/approach

In this paper, it is argued that the perishable nature of products exaggerates the incomplete contract distortion, such that products with a short biological production cycle (e.g. eggs) are likely to be operated under vertical integration, products with a medium cycle (e.g. poultry) are likely to be operated under product contracts, and products with a long cycle (e.g. pork) are likely to be operated under marketing contracts.

Findings

This model helps explain why vertical integration dominates the US egg industry, why product contracts are prevalent in the turkey industry, and why marketing contracts have become common in the pork industry. The implications from this model are also applicable to other sectors and other countries, including China's agricultural sectors.

Originality/value

This paper illustrates that perishable products are more vulnerable to opportunism, because the incomplete contract distortion is exaggerated by the perishable nature of the products. However, a local government can reshape firms' choices of vertical coordination by improving its legal infrastructure to reduce the incomplete contract distortions and then weaken the role of the perishable nature of products, so that contracting (product or marketing) may take place. Note that agricultural producers benefit more in selling their products through product/marketing contracts than spot markets.

Details

China Agricultural Economic Review, vol. 2 no. 1
Type: Research Article
ISSN: 1756-137X

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Article
Publication date: 10 May 2011

Sanae Tashiro and Chu‐Ping Lo

The purpose of this paper is to examine how nutritional concerns, luxurious tastes, and the value of time affect time allocation decisions for food preparation.

753

Abstract

Purpose

The purpose of this paper is to examine how nutritional concerns, luxurious tastes, and the value of time affect time allocation decisions for food preparation.

Design/methodology/approach

A time allocation model is developed and tested with Tobit and Heckman's sample selection models using the 2003‐2007 American Time Use Survey data.

Findings

Individuals concerned more with nutrition or price than luxury devote more time to preparing food‐cooked‐at‐home. High family income and long hours worked increase time allocated to food‐away‐from‐home, indicating that a preference for luxury and the opportunity cost of time outweigh nutritional concerns. High education reduces time spent preparing food‐cooked‐at‐home, yet increases both participation in this activity and time spent obtaining food‐away‐from‐home, suggesting that a preference for luxury and the opportunity cost of time dominate nutritional preference. Time allocation decisions on food preparation vary greatly by race and ethnicity.

Originality/value

The results of this study confirm that the time allocation decisions regarding food preparation are largely affected by an individual's luxury preference, nutritional consciousness, and the value of time, all of which are influenced by education. The findings from this study indicate factors that influence consumers' time allocation decisions regarding food choice and their current food preparation behavior, and thus provide useful insights to nutritionists, dietitians, health practitioners, and policy makers for finding better ways to improve nutritional education, food choices and dietary habits that promote healthier diets and eating habits.

Details

China Agricultural Economic Review, vol. 3 no. 2
Type: Research Article
ISSN: 1756-137X

Keywords

Available. Content available
Article
Publication date: 2 October 2017

K.C. Fung and Xiaolan Fu

943

Abstract

Details

Journal of Chinese Economic and Foreign Trade Studies, vol. 10 no. 3
Type: Research Article
ISSN: 1754-4408

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