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RECONSIDERATION OF LAND FINANCE
——Pattern of Industrialization and Urbanization on Consumption Subsidies Investment
JIANG Zhen
Economic Theory and Business Management    2014, 34 (8): 20-30.  
Abstract2202)      PDF(pc) (1725KB)(7199)       Save
This paper reconsidered the rationality and sustainability of land finance and established a comprehensive interpretation theoretic framework of the rapid growth of transfer income which attributed to the motivation and abilityThe former inspired the subjective will of local government to obtain land transfer income and the latter was the guarantee of objective conditions of local government to obtain land transfer incomeThe local government development motivation was very strong due to the government performance evaluation mechanismThe industrialization and urbanization advancement and land demand were the source of the rapid growth of the land revenueThe pattern of industrialization and urbanization in China was the development path of consumption subsidies investmentLand finance was the core means of this patternThe local government obtained large amounts of land transfer income and translated into the industrial capital subsidy
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ESTIMATING THE SIZE OF CHINAS LOCAL GOVERNMENT DEBT SINCE 1994
—— Taking Zhejiang,Henan and Xinjiang as Examples
XU Jia-Jie
Economic Theory and Business Management    2014, 34 (9): 15-25.  
Abstract2103)      PDF(pc) (1437KB)(6133)       Save
Making use of the intertemporal budget constraint for the government and taking into account the specific characteristic of Chinas local government debt accounting,this paper studies how to estimate its size and points out the distinction between book value and net valueTaking Zhejiang,Henan and Xinjiang as examples,this paper estimates the size of Chinas local government debt ever since 1994It finds out that although the debt paths of three provinces are much different,three provinces have experienced similar cycle,which can be divided into the periods of 1994—1998,1998—2007,2007—2008 and post 2009This papers further study is about their fiscal sustainability,and the debts of Zhejiang,Henan and Xinjiang are sustainable to some extent
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REAL ESTATE TAX, MARKET STRUCTURE AND HOUSING PRICE
KUANG Wei-Da
Economic Theory and Business Management    2012, 32 (01): 10-19.  
Abstract2974)      PDF(pc) (7885KB)(5993)       Save
The paper developed a partial equilibrium model of housing flow market and investigated the relationship of real estate tax and housing price in the scenarios of perfect monopoly and perfect competition The model documented that the imposition and elevation of real estate tax would make housing price decline under different market structure The greater the degree of monopoly was, the housing price would be higher, and the impact of real estate tax on housing price would become greater Using the data of 33 large and mediansize cities in China from 1996 through 2008, the paper found that the influence of market structure upon housing price was greater than that of real estate tax One percent increase of real estate tax would lead to 003% decline of housing price, but one percent increase of Lerner index would generate 016% augment of housing price Accordingly, the property tax could not curb the inflated housing price effectively in China More importantly, the policymakers were supposed to pay great attention on market structure to mitigate the monopoly in the housing markets
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ACCESS TO FINANCE AND RURAL HOUSEHOLD ENTREPRENEURSHIP
——An Empirical Study Based on CHARLS Data
LU Ya-Juan-1,ZHANG Long-Yao-2,XU Yu-Yun-2
Economic Theory and Business Management    2014, 34 (10): 89-99.  
Abstract2131)      PDF(pc) (1435KB)(5921)       Save
This paper selects samples of 806 farmers from China health and retirement longitudinal study data to examine the relationship between financial availability and farmers entrepreneurial choicesThe results show that Chinese rural families entrepreneurial choices behavior and the scale of assets they owned and the financial resources availability presents a positive correlationIt indicates that in Chinas rural families, the existence of financial constraints restricts the entrepreneurial activities of nonagricultural areas to some extentImproving households financial availability has a positive marginal effect to entrepreneurial probabilityIn addition, the financial availability in rural communities also has an important impact on households level of entrepreneurshipTherefore, the policy needs to focus on lowering entry barriers of rural financial market and increasing formal financial supply for villages and towns especially rural communities in the future
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Economic Theory and Business Management    2008, (10): 77-80.  
Abstract2255)      PDF(pc) (362KB)(5394)       Save
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NATIONAL INCOME,PRICE LEVEL AND THE
EXPENDITURE OF PROVINCIAL GOVERNMENT OF PUBLIC CULTURE
QU Ru-Xiao-1,LIU Yang-2
Economic Theory and Business Management    2014, 34 (6): 5-15.  
Abstract2139)      PDF(pc) (1591KB)(5291)       Save
Could the growth of national income and rise in the price level promote the proportion of provincial governments expenditure on public culture? This paper applied the panel data of 31 provinces to test the above relationships over the period 2004—2010The empirical results showed that the proportion of provincial expenditure on public culture had a significant negative correlation with national income,which implied the “rich” provincial government failed to increase investment in public cultureThe “cost disease” did exist,which meant the rising price level was the main cause to force the provincial government to increase expenditure on cultureTherefore,the system reform from provincial government level required a further improvement and more concerns among policy makers
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QUESTIONING THE FOOD PRICE REGULATION
——On the Positioning of Government Regulation Functions
ZHOU Xiao-Mei
Economic Theory and Business Management    2014, 34 (7): 34-42.  
Abstract2010)      PDF(pc) (1523KB)(5229)       Save
As serious asymmetry of information, there are different degrees of failure in the food safety market. In order to encourage enterprises to improve food safety standards, consumer demand for food safety has transmitted signals to the enterprise through the willingness to pay. Some increase in food prices reflects the consumer demand for food safety. Case studies showed that the government controls on food prices would increase market uncertainty, due to the objectives conflict between the food price regulation and the food safety regulation. Facing food safety crises, the government should use price regulation with caution. In the process of economic restructuring, regulatory functions of government should be clear positioning, relax food price regulation, effectively strengthen food safety regulation.
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Economic Theory and Business Management    2001, (7): 54-56.  
Abstract3472)      PDF(pc) (639KB)(4951)       Save
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THE NONLINEAR RELATIONSHIPS BETWEEN EXCESS
WAGE, EXTERNAL COSTS CHANNEL AND CHINAS INFLATION
——Based on Technological Advances Theory and MSIAHVAR Model Analysis
LONG Shao-Bo-1,CHEN Zhang-1,ZHANG Jun-2
Economic Theory and Business Management    2014, 34 (11): 32-44.  
Abstract1983)      PDF(pc) (2326KB)(4838)       Save
This paper studied the influence of excess wages, external cost and oil shocks on Chinas inflation with MSIAHVAR modelEmpirical results showed that the rate of wage growth exceeding the output (excess wages) strengthened the role of pushup on Chinas inflation, and pushing of excess wage and inflation had formed an “excess wage growthinflation” spiral after 2003When technical advance was not enough to digest rising costs, the external costs and oil shock to domestic inflation would gradually strengthenHowever, the high speed growth rate of M2 does not seem to significantly drive inflation, along with ebbing of real estate and other asset markets, the real economy may generate inflation risks
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Economic Theory and Business Management    2004, (6): 64-69.  
Abstract2780)      PDF(pc) (626KB)(4742)       Save
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ZHOU Xin-Cheng
Economic Theory and Business Management    2014, 34 (12): 10-16.  
Abstract1625)      PDF(pc) (806KB)(4715)       Save
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AN EMPIRICAL TEST ON CHINESE HIGHTECH INDUSTRY
PRODUCTIVITY INFLUENCING FACTORS
LUO Lai-Jun-1,LI Jun-Lin-1,YAO Dong-Min-2
Economic Theory and Business Management    2015, 35 (5): 5-16.  
Abstract1409)      PDF(pc) (1467KB)(4298)       Save
This paper uses enterprise data to empirically test the influencing factors of Chinese hightech industry productivity, and concludes that the growth of assets, human capital, corporate profits, and enterprise scale have significant effect on productivity. Government subsidies, capital labor ratio,and inventory play negative roles.Foreign direct investment, trade credit, sales cost, market concentration, and industrial chain status have little effect. Different from the normal expectation of people, R&D investment on productivity may not work or play a negative role.This paradoxical conclusion reflects the special circumstances in China.The motive of many enterprises  R&D investment is to rent for an access to government subsidies and monopoly interests.Lack of protection for intellectual property rights makes many enterprises unwilling to put a lot of money in the use of technology research and development. Bank loans and government subsidies seriously distort and impede productivity. This paper suggests that the problems arise in Chinese financing system and government funded system, which not only fails to promote enterprise efficiency, but also inhibits the development of enterprise efficiency.
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Economic Theory and Business Management    2006, (12): 72-76.  
Abstract1799)      PDF(pc) (794KB)(4273)       Save
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REGIONAL ENTREPRENEURIAL CLIMATE AND ITS WORKING MECHANISM——An Analysis Framework of Entrepreneurship at a Population Level
WU Yi-gang, RONG Zhao-zi
Economic Theory and Business Management    2011, 31 (5): 98-105.  
Abstract5906)      PDF(pc) (1075KB)(4257)       Save
Entrepreneurial climate is the collective and external display of mental ability,values and social conventions of all the members within a region.Entrepreneurial climate is an endogenous consequence of entrepreneurship study,psychological experience and social interaction evolving from the entrepreneurial activities.Entrepreneurial climate improves the copy frequency of entrepreneurial practices and the level of regional entrepreneurial activities by enhancing the average entrepreneur income and changing the entrepreneur venture preference.There is a positive relationship between entrepreneurial climate and entrepreneurial activities with the knowledge accumulation and reward incentive.The key to raise the entrepreneurship level of the central and western regions is to foster entrepreneurial climate and achieve the threshold of a breakthrough.
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LABOR INCOME SHARE,URBAN-RURAL INCOME GAP AND HOUSEHOLD CONSUMPTION IN CHINA
ZOU Hong, YU Kai-zhi
Economic Theory and Business Management    2011, 31 (3): 45-55.  
Abstract5025)      PDF(pc) (2561KB)(4100)       Save
This article established a neo-classical economic growth model including human capital as a sub-group of population,theoretically analyzed the relationship among the share of labor income,income gap and consumption,and then used the dynamic GMM estimation method which was based on inter-provincial dynamic panel data from 1990 to 2008 in order to focus on testing the influence of distribution structure of national income,urban-rural income gap and their interaction on the rate of consumption in China.Furthermore,the article revealed the dynamic formation mechanism of low consumption rate in China.The study found that the share of labor income and urban-rural income gap were the fundamental reasons of slow growth in residents' consumption;the level of urbanization,the formation of consumption habits and the structure of population age had great influence on consumption rate;increasing the share of labor factors can reduce urban-rural income gap.Although we used different identification methods and measurement technology as well as controlled the potential impact of other factors on the rate of consumption,our results were still basically stable.
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HOW TO EXPLAIN THE DIFFERENTIAL ECONOMIC GROWTH BETWEEN CHINA AND INDIA——Review from an Institutional Perspective
YANG Yi-shuang
Economic Theory and Business Management    2011, 31 (5): 82-89.  
Abstract6107)      PDF(pc) (1008KB)(4094)       Save
Based on the characters of the comparative study,this paper reviewed and analyzed the domestic and foreign comparative study on the evolution of China and India,which evolved from the essential factor's growth to the institutional transformation,from the short-term macroeconomic comparison to the long-term sustainable growth.This paper emphasized the rationality of institutional path on the comparative study of China and India,and discussed the importance role of institutions in the growth of China and India.
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EMPIRICAL STUDY OF THE EFFECT OF INTERGOVERNMENTAL
TRANSFER PAYMENTS ON FISCAL EXPENDITURE BEHAVIOR OF
NATIONAL POVERTYSTRICKEN COUNTIES ——A Study Based on 592 National Povertystricken Counties
LI Dan,ZHANG Xia
Economic Theory and Business Management    2015, 35 (3): 74-84.  
Abstract1459)      PDF(pc) (1484KB)(4033)       Save
Based on the study of the national poverty counties, this paper analyzes the effect of intergovernmental transfer payment on changes in financial expenditure behavior By using a dynamic panel regression model and the system GMM method, this paper studies the effect of all kinds of transfer payment and the incremental of transfer payment on the behavior of fiscal expenditure for local government The empirical results show that there is no special preference of some kind of fiscal expenditure The national poverty counties may have to keep the title of povertystricken counties, and give up the development Fiscal transfer payments are used to maintain their own interest spending and coordinate the interests among all parties.
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EMPLOYEES' STOCK PLAN VERSUS EXECUTIVES' STOCK PLAN:FROM THE U. S. TO CHINA
ZHUANG Li, LU Xiongwen
Economic Theory and Business Management    2000, (3): 11-15.  
Abstract1876)      PDF(pc) (213KB)(4001)       Save
By introducing and analyzing the U. S. employees' stock plan vs.executives'stock plan,it points out that at current stage in China,the former is suitable only for several small firms and high-tech firms;the latter is suitable for most SOE,but it needs the effectively coordination with stock markets and principal governing structures,etc.
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REVIEW OF NEWLY RESEARCH ON NEW ECONOMIC GEOGRAPHY
WANG Dan
Economic Theory and Business Management    2011, 31 (5): 36-41.  
Abstract5598)      PDF(pc) (991KB)(3870)       Save
Paul Krugman,the founder of the new economic geography theory,discussed a general equilibrium model on the assumption of imperfect competition market structure,which is the main difference between the new and traditional economic geography theory.Many abroad scholars have conducted in depth studies on theory expanding and empirical research. In order to summary the responsive policy of regional development,this paper reviewed on newly research on new economic geography theory since 1990s,especially in the 21st century,from the following three aspects: expanding theory menu,the empirical research,the welfare analysis and policy research.
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STATUS AND TRENDS OF CHINA CARBON TRADING MARKET UNDER FINANCIAL CRISIS
WANG Yu-mei, PAN Shao-ming
Economic Theory and Business Management    2009, (11): 57-63.  
Abstract2840)      PDF(pc) (1094KB)(3751)       Save
As carbon market in China has gained its momentum,the country claims a promising future in carbon business.Although China possesses the richest carbon reduction potential,because of its narrow range of projects and exchange prices that are much too low,carbon market in China develops much slowly compared with that in OECD countries.The carbon emission rights,known to all as one of strategically resources,if,once sold at too low prices,may bring us high risks in the long run.Affected by the financial crisis beginning at 2007,carbon market in China probably will experience a period of slump in the years around,while prosperous future is still there after this crisis.For reasons above,we give several suggestions that we think the country should take: first,to push researches in methodologies for CDM project activities forward;second,to train specialists focusing on carbon trade and set up consulting and financial institutions servicing carbon market.Also,we should pay special attention to the pricing power of international carbon markets.
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