Fifteenth Annual Conference

Asia-Pacific Economic Association“APEA 2019”
Fukuoka University, Fukuoka, Japan, August 1-2, 2019

Executive Committee: Kar-yiu Wong, University of Washington, USA (co-chair)
Ko Nishihara, Fukuoka University, JP (co-chair)
J. Moomwon Kang, Fukuoka University, JP
Joshua Aizenman, University of Southern California, USA
Shin-ichi Fukuda, University of Tokyo, Japan
Chung Mo Koo, Kangwon National University, Korea
Host:

Faculty of Economics, Fukuoka University, Japan
8-19-1 Nanakuma, Jonan-ku, Fukuoka 814-0180, JP

Sponsor:Tokyo Center of Economic Research, JP
Center for International Research on the Japanese Economy, Universityof Tokyo, JP
Fukuoka Convention & Visitors Bureau, JP

Program Committee: Ko Nishihara, Fukuoka University, JP (co-chair)Shin-ichi Fukuda, University of Tokyo, JP (co-chair)
J. Moomwon Kang, Fukuoka University, JP
Joshua Aizenman, University of Southern California, USA
Arindam Banik, International Management Institute Kolkata, IN
JunJie Hong, University of International Business and Economics, CN
Young-Jae Kim, Pusan National University, KR
Chung Mo Koo, Kangwon National University, KR
Hyun-Hoon Lee, Kangwon National University, KR
Yuri Sasaki, Meiji Gakuin University, JP
Xiaopeng Yin, University of International Business and Economics, CN
Zhongxiu Zhao, University of International Business and Economics,
CN
Selection Committee: Chung Mo Koo, Kangwon National University, KR (chair)
Juyoung Cheong, Kyung Hee Unversity, KR
Local Organizing
Committee:

http://www.apeaweb.org/

Junmin Wan, Fukuoka University, JP (chair)
Shogo Eguchi, Fukuoka University, JP
Takamitsu Kurita, Fukuoka University, JP
Shinji Miyake, Seinan Gakuin University, JP
Ryosuke Nakamura, Fukuoka University, JPAPEA 2019

Fukuoka, Japan, August 1-2, 2019

Mitsuo Takase, Fukuoka University, JP
Keiko Tamada, Fukuoka University, JP
Konari Uchida, Kyushu University, JP
Junichi Watanabe, Fukuoka University, JP

http://www.apeaweb.org/

2

APEA 2019

Fukuoka, Japan, August 1-2, 2019

Program
Day 0: Wednesday, July 31, 20197.00 – 9:00 pm

Reception Party

Day 1: Thursday, August 1, 20198:30 – 9:00 am
9:00 – 9:25 am
9:30 – 10:15 am
10:15 – 10:30 am
10:30 – 12:30 pm
12:30 – 1:30 pm
1:35 – 3:35 pm
3:35 – 3:50 pm
3:50– 5:50 pm
7:00 – 9:00 pm

Registration
Welcoming Session
Keynote Speech, I
Coffee BreakSessions 1A – 1D
Lunch
Sessions 2A – 2D
Coffee BreakSessions 3A – 3D
DinnerDay 2: Friday, August 2, 20199:00 – 11:00 am
11:00 – 11:15 am
11:15 – 12:15 pm
12:15 – 1:30 pm
1:30 – 3:30 pm
3:40 – 4:00 pm
4:00 – 4:15 pm

Sessions 4A – 4E
Coffee BreakKeynote Speech, II
Lunch
Sessions 5A – 5D
Closing Session
Coffee BreakDay 3: Saturday, August 3, 20199:00 am – 4:00 pm optional city tour (The departure time is approximate.)

http://www.apeaweb.org/

3

APEA 2019

Fukuoka, Japan, August 1-2, 2019

Program
Day 0: Wednesday, July 31, 20197.00 – 9:00 pm

Reception Party
Hotel New Otani Hakata, Restaurant “Castillian Room” BF1

Day 1: Thursday, August 1, 2019
All sessions, including keynote sessions, both days’ lunches and dinner on August 1, will be heldat Humanities and Social Sciences Center Building (Bunkei Center Building, HCCSB), Fukuoka
University, https://www.fukuoka‐u.ac.jp/english/facilities_institutes/other/other01/:
Keynote speeches, welcoming and closing sessions: HSSCB, 4F.
Sessions A: Meeting Room 5, HSSCB, 15F.
Sessions B: Meeting Room 6, HSSCB, 15F.
Sessions C: Meeting Room 7, HSSCB, 15F.
Sessions D: Meeting Room 8, HSSCB, 15 F.
Coffee Breaks: HSSCB, 15F.

8:30 – 9:00 am

Registration

9:00 – 9:25 am

Welcoming Session

Chair: Shin-ichi Fukuda, Tokyo University, JP
Kar-yiu Wong, University of Washington, US
Ko Nishihara, Fukuoka University, JP

9:30 – 10:15 am

Keynote Speech I

Chair: Joshua Aizenman, University of Southern California, US
Jong Wha Lee, Korea University, KR, “Demographic Change, Human Capital, and Economic
Growth in Korea” (coauthored with Jong-Suk Han)

10:15 – 10:30 am

Coffee Break

10:30 – 12:30 pm

Sessions 1A – 1D

Session 1A. Asset Prices in Asian Financial Markets
Organizer: Japan Society of Monetary Economics and Korea Money & Finance Association, JP
Chair: Toshiki Jinushi, Kansai University, JP

http://www.apeaweb.org/

4

APEA 2019

Fukuoka, Japan, August 1-2, 2019

Cheoljun EOM, Pusan National University, KR, and Jong Won PARK, University of Seoul, KR,“Effects of the Fat-Tail Distribution on the Relationship between Prospect Theory Value andExpected Return”
Discussant: Fumihiko Hiruma, Waseda University, JP
Doojin Ryu, Sungkyunkwan University, KR, “Noise Traders, Mispricing, and Price Adjustments in
Derivatives Markets”
Discussant: Shin-ichi Fukuda, University of Tokyo, JP
Young Joon Lee, Yonsei University, KR, Soohyon Kim, Bank of Korea, KR, and Ki Young Park,
Yonsei University, KR, “Measuring Monetary Policy Surprises Using Text Mining: The Case ofSouth Korea”
Discussant: Masayuki Keida, Rissho University, JP
Session 1B. Econometric and Economic Theory
Organizer: Junmin Wan, Fukuoka University, JP
Chair: Takamitsu Kurita, Fukuoka University, JP
Takamitsu Kurita, Fukuoka University, JP, and Bent Nielsen, Oxford University, UK, “Partial
Cointegrated Vector Autoregressive Models with Structural Breaks in Deterministic Terms”
Ko Nishihara, Fukuoka University, JP, “Resolution of the n-person Prisoners’ Dilemma by Kalai’s
Preplay Negotiation Procedure”
Xiaoxi Li, Wuhan University, CN, “The Folk Theorem for Repeated Games with Time-dependent
Discounting”
Kiyoshi Yoneda, Fukuoka University, JP, “Inverse Problem Formulation for Resource-constrained
Devices”
Session 1C. International Trade
Chair: Kar-yiu Wong, University of Washington
Alan V. Deardorff, University of Michigan, US, and Rishi R. Sharma, Colgate University, US,“Exempted Sectors in Free Trade Agreements”
Peizhi Wang and Gul Rukh Bangash, Shandong University of Finance and Economics, CN, “The
Effect of Infrastructure Availability on FDI Inflow in D8 Countries”
Xiaopeng Yin, Hanyuan Zhang, and Shanshan Yi, University of International Business andEconomics, CN, “Dynamics of FDI and Welfare with Product Cycle”
Juyoung Cheong, Kyung Hee University and SeEun Jung, Inha University, KR, “Trade liberalizationand Heterogeneous Effects on Wages”
Session 1D. The Indian Economy
Chair: Dolly Sunny, University of Mumbai, IN
Paramita Mukherjee, International Management Institute Kolkata, IN, Dipankor Coondoo, Indian
Statistical Institute, IN, and Poulomi Lahiri, Institute of Development Studies, IN, “Forecasting
Hourly Prices: The Case of Spot Electricity Market in India”
Chanchal Chatterjee and Arindam Banik, International Management Institute Kolkata, IN,“Ownership Pattern and Governance-Performance Relation: Evidence from Top IndianCompanies”

http://www.apeaweb.org/

5

APEA 2019

Fukuoka, Japan, August 1-2, 2019

Somesh K Mathur, P M Prasad, and Praveen Kulshreshtha, IIT Kanpur, IN, Sangeeta Khorana,
University of Boursemouth, and Manish Chauhan, IIT Kanpur, IN, “The Impact of Odd Even
Transportation Policy and Other Factors on Pollution in Delhi: A Spatial and RDD Analysis”
Tirthankar Nag, International Management Institute Kolkata, IN, “Exploring the Water Energy Nexus
and its linkages for social and solidarity economy based organizations in India”
Sahana Roy Chowdhury, International Management Institute, IN, “Estimating skill-mismatch inIndian labor market: A regional dimension”

12:30 – 1:30 pm

Lunch

1:35 – 3:35 pm

Sessions 2A – 2D

Session 2A. Population Aging in Japan and Korea I
Organizer: The Center for International Research on the Japanese Economy, University of Tokyo
Sponsored by HEIWA NAKAJIMA FOUNDATION
Chair: Masaya Sakuragawa, Keio University, JP
Ki Young Park, Yonsei University, KR, "Estimating the Neutral Real Interest Rate: A Comparison
between South Korea and Japan," (coauthored with Dong Jin Lee, Joon-Ho Hahm, and Hail
Park)
Soyoung Kim, Seoul National University, KR, “Macroeconomic Effects of Housing Market Policies in
Korea"
Shin-ichi Fukuda, University of Tokyo, JP, and Koki Okumura, University of Tokyo, JP, "Regional
Convergence under Declining Population: The Case of Japan"
Session 2B. Monetary Policy and International Macroeconomics
Chair: Masayuki Keida, Rissho University, JP
Hiroyuki Ijiri, Okayama Shoka University, JP, and Toshiki Jinushi, Kansai University, JP,“International Spillover Effects of the Quantitative Easing Policy- An Examination of the U.S. andJapan with the TVP-VAR”
Chen-Min HSU, CTBC Business School, TW, and Tsangyao Chang, Feng Chia University, TW,“Revisit Keynesian versus Wagner using Continuous Wavelet Analysis in China”
Fei Han, International Monetary Fund, USA, “Demographics and the Natural Rate of Interest inJapan”
Hwee Kwan CHOW, Singapore Management University, SG, “Is the Renminbi Asia’s Dominant
Reference Currency? A Reconsideration”
Siyu Zhang, Meiji Gakuin University, JP, “Unconventional Monetary Policy and a Financial
Intermediary: Were they relevant to fluctuations in the Japanese economy?”
Session 2C. Environment Economics
Organizer: Chung Mo Koo, CTBC Business School, TW
Chair: Chung Mo Koo, CTBC Business School, TW

http://www.apeaweb.org/

6

APEA 2019

Fukuoka, Japan, August 1-2, 2019

Seon Ju Lee and Sung Jin Kang, Korea University, KR, “A study of long-run trends of SDGs: thecase of South Korea”
Sun Lee and Sung Jin Kang, Korea University, KR, “Can Environment Quality Improve Subjective
well-being? Cross-country evidence from survey data”
Hoon Choi, Korea University, KR, “Do anti-discrimination laws alleviate labor market duality?
Quasi-experimental evidence from Korea”
Session 2D. The Chinese Economy
Chair: Nathalie Aminian, University of Rouen, FR
JIANG Jinhe, Chinese Academy of Social Sciences, CN, “China's Water-Energy Space Match andWater Use Efficiency Issues”
Agnieszka McCaleb, Warsaw School of Economics, PL, “Regional level determinants of China’s
innovative capacity”
Yi Xue, University of International Business and Economics, CN and Zhiwei Su, Tsinghua
University, CN, “Can Government Purchase Resolve Systemic Risk? Evidence from China”
Ya-chi LIN, Feng Chia University, TW, Kuo-chun YEH, National Taiwan University, TW, and
Edward S. Hsieh, Taiwan Academy of Banking and Finance, TW, “Measuring RMB Integration
and Interruption in the Chinese Economic Area: Testing Onshore and Offshore Markets”
DAI Hongwei and CHU Yichen, Central University of Finance and Economics, CN, “An Analytical
Case Study of Government Policy Effects Using Synthetic Control Method: The Beijing-TianjinHebei Collaborative Development strategy”

3:35 – 3:50 pm

Coffee Break

3:50– 5:50 pm

Sessions 3A – 3D

Session 3A. Global Economy
Organizer: Yuri Sasaki, Meiji Gakuin University, JP
Sponsored by The Japan Economic Research Institute (JERI)Chair: Eiji Ogawa, Hitotsubashi University, JP
Yoshihiro Tamai, Kanagawa University, JP, “Long-run Effect of Bailout Plans in an Overlapping
Generations Model”
Masaya Sakuragawa, Keio University, JP, Satoshi Tobe, Kwansei Gakuin University, JP, andMengyuan Zhou, Keio University, JP, “Exploring Determinants of Housing Prices in Advanced
Countries”
Satoshi Koibuchi, Chuo University, JP, and Mizuki Goto, Hitotsubashi University, JP, “Cross-border
Mergers and Acquired Business Performance”
Kimie Harada, Chuo University, JP, “Tariff Reduction and Its Effects on the International Wine
Trade: A Gravity Model Approach”
Session 3B. Investment of Human and Physical Capital
Organizer: Junmin Wan, Fukuoka University, JP

http://www.apeaweb.org/

7

APEA 2019

Fukuoka, Japan, August 1-2, 2019

Chair: Keiko Tamada, Fukuoka University, JP
Jeffrey Coles, University of Utah, US and Konari Uchida, Kyushu University, JP, “Power ofTournament Incentives: Evidence from Japanese Corporate Boards”
Keiko Tamada, Fukuoka University, JP, “The Effects of the School-Teacher Matching Quality on
Students Achievement”
Ryosuke Nakamura, Fukuoka University, JP, “Amendment of the National Curriculum for HighSchool, and Changes in the Effects of the National Curriculum on Outcomes in Japan”
Qiqi Qiu, Fukuoka University, JP, and Junmin Wan, Fukuoka University, JP, “Industrial Investments
and Housing Prices in China”
Session 3C. Labor and Employment
Chair: Minchung Hsu, CTBC Business School, TW
Junichi Fujimoto, National Graduate Institute for Policy Studies, JP, and Julen Esteban-Pretel,
CUNY Queens College, US, “Temporary Employment in Japan from the 1980s”
Pei-Ju Liao, NTU & CRETA, TW, Minchung Hsu, GRIPS, TW, Anh Xuan Le, State Bank ofVietnam, VN, and Yi-Chan Tsai, NTU & CRETA, TW, “Encouraging Labor Participation ofMarried Female in Japan: The Roles of Tax System and Child-care Subsidy”
Anoshua Chaudhuri, Aditi Grossmany, Yeon-shim Lee, and Grace Yoo, San Francisco State
University, US, “Health and well-being of highly skilled migrant workers: A new study on H-1B
visa holders in the United States”
Session 3D. Financial Integration
Chair: Dilruba BEGUM, Ritsumeikan University, JP
Arindam Banik, Ritu Parna Basu, and Rabia Khatun, International Management Institute, Kolkata,IN, “Measuring the Barriers to Trade in Banking and Financial Services in BRICS Economies”
Kimiko Sugimoto, Konan University and Gilles Dufrénot, Aix-Marseille University,“Does international financial integration increase the standard of living in Africa? A frontier approach”
Fumihiko Suga, Kyushu University, JP, Masahiro Hori, Hitotsubashi University, JP, and Takeshi
Niizeki, Ehime University, JP, “Impact of Real Asset Price Bubble on Household Resource
Allocation and Utility over the Lifecycle”
Tomomi Miyazaki, Kobe University, JP, and Haruo Kondoh, Seinan Gakuin University, JP,“Interactions between Monetary and Fiscal Stimulus and Regional Employment: Evidence fromJapan”
7:00 – 9:00 pm

Dinner
Welcoming speech: J. Moonwon Kang, Dean, Faculty of Economics, Fukuoka
University, JP

Day 2: Friday, August 2, 2019http://www.apeaweb.org/

8

APEA 20199:00 – 11:00 am

Fukuoka, Japan, August 1-2, 2019

Sessions 4A – 4E

Session 4A. International Finance
Organizer: Yuri Sasaki, Meiji Gakuin University, JP
Sponsored by The Japan Economic Research Institute (JERI)Chair: Masaya Sakuragawa, Keio University, JP
Etsuro Shioji, Hitotsubashi University, JP, “Pass-through of Oil Supply Shocks to Domestic Gasoline
Prices: Evidence from Daily Data”
Eiji Ogawa, Hitotsubashi University, JP, Naoki Shinada, DBJ Securities Co., Ltd. JP, and Masakazu
Sato, Development Bank of Japan Inc., JP, “Japanese Companies’ Overseas Business Expansion
and Impact of Exchange Rate Fluctuations”
Yuri Sasaki, Meiji Gakuin University, JP, Yushi Yoshida, Shiga University, JP, and Piotr Kansho
Otsubo, Meiji Gakuin University, JP, “Exchange rate pass-through on Japanese prices: Importprice, producer price and core CPI”
Shin-ichi Fukuda, University of Tokyo, JP, and Mariko Tanaka, Musashino University, JP,“Economic Geography and a Theory of International Currency: Implications from a Random
Matching Model”
Session 4B. Government Budget and Economic Development
Chair: Yi Xue, University of International Business and Economics, CN
Ming-Kwen Tsai, Tungnan University, TW, Kai-Lin Chi, Science & Technology Policy Researchand Information Center, TW, and Guan-Yu Li, Tungnan University, TW, “The Cross-Country
Analysis of Scientific Budget and Research & Development Funding”
Dilruba BEGUM and David FLATH, Ritsumeikan University, JP, “Sustainability Analysis of
Bangladesh Government Debt”
Munim Kumar Barai, Ritsumeikan Asia Pacific University, JP, “Can Bangladesh Offer a
Development Model to the Developing World?”
Session 4C. Economic Development
Chair: Chung Mo Koo, CTBC Business School, TW
Koki Arai, Shumei University, JP, and Emi Morimoto, University of Tokushima, JP, “Productivity
and Innovation in Japanese Construction Industry”
Atsushi Miyake, Kobe Gakuin University, JP, and Yasuyuki Osumi, University of Hyogo, JP, “FirmSize, Rate of Return on Capital, and Increasing Returns to Scale – Cases of Japanese Financial
and Information Communication Service Sectors”
Anis Chowdhury, Western Sydney University, AU and Mohammad Zulfan Tadjoeddin, Western
Sydney University, AU, “Structural Economic Transformation in Land Locked Developing
Countries (LLDCs) of Asia”
Patrick Plane, CERDI-IRD-CNRS, Université Clermont Auvergne (UCA), FR, “Why are African
domestic transport and logistics so costly?”Nathalie Aminian, University of Rouen, FR and K.C. Fung, University of California, Santa Cruz,
US, “Silicon Valley, Japan and France: A Comparative Study of Innovation Systems and Policies”
Session 4D. Recent Economic Reforms in India: The Leap towards Global Emergence

http://www.apeaweb.org/

9

APEA 2019

Fukuoka, Japan, August 1-2, 2019

Organizer: Dolly Sunny, University of Mumbai, IN
Chair: Paramita Mukherjee, International Management Institute Kolkata, IN
Dolly Sunny, University of Mumbai, IN, “Starting up Ventures in India: An Introspection on
Measures Provided by the Government”
K. N. Ghorude, University of Mumbai, IN, “Feminization of Labour and Women Empowerment: An
Empirical Evidence from Indian SEZ’s”
Suresh Sitaram Nale, University of Mumbai, IN, “Measures to Attain Self Sufficiency: The Tale of
Rural Credit Cooperatives in India”
Vaidehi Daptardar, University of Mumbai, IN, “Ensuring Inclusive Growth through ‘Digitalized
India”
Somnath S. Vibhute, University of Mumbai, IN, “The Drive towards a Cashless Economy: Some
Inference in the Context of Digital Payments in India”
Session 4E. Econometric and Economic Theory, II
Chair: Ko Nishihara, Fukuoka University, JP
Nobuaki Yamashita, Royal Melbourne Institute of Technology (RMIT) University, AU, and Ryo
Kambayashi, Hitotsubashi University, JP, “Bonus versus promotion incentives in corporate
innovation”
Yusun Kim, University of Connecticut, US, “Impact of Short Reassessment Cycles on Assessment
Outcomes”
Mitsuo Takase, Fukuoka University, JP, “Effects of Entry Restriction on Free Entry GeneralCompetitive Equilibrium”

11:00 – 11:15 am

Coffee Break

11:15 – 12:15 pm Keynote Speech, II
Chair: Chung Mo Koo, CTBC Business School, TW
Joshua Aizenman, University of Southern California, US, "Inflation and Exchange Rate Targeting
Challenges Under Fiscal Dominance," (coauthored with Rashad Ahmed and Yothin Jinjarak)

12:15 – 1:30 pm

Lunch

1:30 – 3:30 pm

Sessions 5A – 5D

Session 5A. Population Aging in Japan and Korea, II
Organizer: The Center for International Research on the Japanese Economy, University of Tokyo
Sponsored by HEIWA NAKAJIMA FOUNDATION
Chair: Shin-ichi Fukuda, University of Tokyo, JP
Daesun Jung, Seoul National University, KR, and Young Sik Kim, Seoul National University, KR,"Income Volatility, Household Leverage, and Consumption in Korea"
Taeyoon Sung, Yonsei University, KR, "Foreign Debt, Global Liquidity, and Fiscal Sustainability"
Masaya Sakuragawa, Keio University, JP, "The government’s projection and public debt
sustainability"

http://www.apeaweb.org/

10

APEA 2019

Fukuoka, Japan, August 1-2, 2019Charles Y. Horioka, Kobe University, JP, and Yoko Niimi, Doshisha University, JP, "Was the
Expansion of Housing Credit in Japan a Good Thing or a Bad Thing?"
Session 5B. Mongolian Economy: Challenges in Fiscal and Monetary Policies
Organizer: Hiroyuki Taguchi, Saitama University, JP
Chair: Hiroyuki Taguchi, Saitama University, JP
Bulgankhuu Ganzorig, Ministry of Finance of Mongolia, MN,“Analysis of the ‘Dutch Disease’ Effectand Public Financial Management in Mongolian Economy”
Discussant: Masaharu Nagashima, Saitama University, JP
Natsagdorj Narantuya, Financial Regulatory Commission of Mongolia, MN, “Macroprudential
Policy to Manage Systemic Risk Which Derives from Financial Institutions”
Discussant: Hidekatsu Asada, Saitama University, JP
Namjil Enkhbaatar, Financial Regulatory Commission of Mongolia, MN, “Stock Market andMacroeconomic Policies in Mongolia”
Discussant: Takeshi Osada, Saitama University, JP
Tsaschikher Naranzul, Ministry of Finance, Government of Mongolia, MN, “Government Financial
Support for SMEs: Lessons Learnt from Japan”
Discussant: Koki Hirota, Saitama University, JP
Session 5C. Economic Catch-up and issues of economic growth
Organizer: Raeyoon Kang, Seoul National University, KR
Chair: Peizhi Wang, Shandong University of Finance and Economics, CN
Deockhyun Rye, Chung-Ang University, KR “Structural Adjustment and Changes to Employment
Use in Japan”
Hyeog Ug Kwon, Nihon University, JP, “Fiscal Reform and Economic Growth: A Synthetic Control
Method (SCM) approach to Korean Economy”
Deockhyun Ryu, Chung-Ang University, KR, “Comparing the impact of financialization andfinancial development on investment and growth”
Raeyoon Kang and Keun Lee, Seoul National University, KR, Taehyun Jung, Hanyang University,
KR, “Impact of transition to OBM on firm performance: The evidence in Korea”
Hyeog Ug Kwon, Nihon University and RIETI, JP, Timothy DeStefano, OECD, EU, and Sho
Haneda, Nihon University, JP, “Structural adjustment and changes to employment use in Japan”
Session 5D. Banking, Lending, and Investment
Organizer: Junmin Wan, Fukuoka University, JP
Chair: Tong Wang, University of Edinburgh, UK
Sheng Zhao, University of Edinburgh, UK, Fernando Moreira, University of Edinburgh, UK, andTong Wang, University of Edinburgh, UK, “Do Bank Rating Changes Following Sovereign Rating
Changes Provide Extra Information? Evidence from the Sovereign-ceiling Policy”
Xin Shen, Xi’an Jiaotong, Liverpool University, CN, Tong Wang, University of Edinburgh, UK, andSheng Zhao, University of Edinburgh, UK, “Why Geographical Information Matters? Evidence
from Peer-to-Peer Lending”
Qiqi Qiu, Fukuoka University, JP, and Junmin Wan, Fukuoka University, JP, “Depreciation Rate byIndustrial Sector in China”

http://www.apeaweb.org/

11

APEA 2019

Fukuoka, Japan, August 1-2, 20193:40 – 4:00 pm Closing Session
4:00 – 4:15 pm Coffee Break

http://www.apeaweb.org/

12