Table of Content

16 June 2011, Volume 31 Issue 6

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THE DEVELOPMENT OF CPC's ECONOMIC THOUGHTS IN THE PERIODS OF REVOLUTION,CONSTRUCTION AND REFORM

WEI Xing-hua, HONG Yin-xing

2011, (6):  5-13. 

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The Communist Party of China(CPC) has experienced the rough periods of revolution,construction and reform in the past ninety years.During the different periods,the relevant economic thoughts had been developed in the combination of Marxism and China's reality,which were rich with Chinese characteristics.To be summarized,the thoughts and theories of new democratic economy were formed in the revolution for the founding of the People's Republic of China;the socialist economic theory with Chinese characteristics was formed and developed in the construction and reform periods after the founding of New China.Especially in the past thirty years,the socialist economic theory with Chinese characteristics was explored by the Mao Zedong Thoughts,formed in the Deng Xiaoping Theory,and developed with the ruling party's basic theory and Marxism during the period of reform and opening.This paper discussed the founding procedure of these thoughts and theories,and commented on their significance for Chinese economy.

RESEARCH ON THE THEORY OF MARXISM WITH CHINESE CHARACTERISTICS

SHI Zhong-quan

2011, (6):  14-19. 

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In the past ninety years,with the leadership of the Communist Party of China,the Chinese people have joined hands to overcome the great hardship and made great contributions that have been recognized by the world,which is the fruit of Marxism with Chinese characteristics.After the founding of CPC,the theory of Marxism with Chinese characteristics has been applied in the party's historic course.The victory or defeat in the history of CPC depends successfully on always keeping the thought line of seeking Marxism with Chinese characteristics.

THE PERSPECTIVES OF POPULATION ECONOMICS ON STIMULATING DOMESTIC DEMAND:THEORIES AND EVIDENCES

LI Tong-ping, GUO Xi-bao

2011, (6):  20-28. 

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This paper reviewed the relationship between population and domestic demand,and provided a basic analysis framework of population economics for expending domestic demand.Using the data from National Bureau of Statistics of China and World Bank,this paper empirically explored that the effects of demographic factors on domestic demand,which was based on experiences from China and foreign countries.We suggested that the population growth could not reduce the domestic demand,and the dramatic changes in age composition and urbanization could explain the lower consumption ratio mostly.Two policies should be considered as leading strategies on stimulating domestic demand: to change from GDP-oriented growth to the people-oriented growth,and to transfer from the strict birth control policy to the optimum growth policy.

DEFECTS OF CHINA'S INPUT-OUTPUT ACCOUNTS AND THE IMPROVEMENT PATHS

HE Ji-piao, QIU Qiong

2011, (6):  29-37. 

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This paper first summarized the history and contribution of China's input-output accounts.Furthermore,by looking into the compilation process and parts of the characteristics of China's current input-output tables,referring to the international standards and experiences of some of the developed countries,and considering the practical needs of statistics and accounting in China,the paper studied the main defects of China's input-output accounts.By focusing on these defects and imperfections,the paper provided some active suggestions for improving China's input-output accounts from the points of view of sector classification,valuation,investigation object,questionnaire design,methodology of compiling input-output tables,etc.

THE IMBALANCE OF ECONOMIC GROWTH AND SOCIAL DEVELOPMENT

LI Yi-ping

2011, (6):  38-42. 

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This paper studied the imbalance of economic growth and social development in China and found that the imbalance would seriously damage the sustained,rapid and sound development of China's economy.There were several expressions of imbalance,which was caused by the doctrinairism of growth model,the confusion between economic and social policies,and the function dislocation between the government and market.This paper concluded that the imbalance should be corrected by the transformation of economic development pattern.

COUNTERCYCLICAL TRADE POLICY AND WELFARE ALLOCATION

WANG Jin-bin, LI Sha

2011, (6):  43-48. 

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Since the financial crisis broke out in 2008,global countercyclical trade policies have been in vogue.Based on Bagwell and Staiger's work and assumed the elasticity of demand price in two countries to be different,this paper constructed a new model and theoretically showed the welfare allocation between the developed counties(for example the United State) and the developing nations(for example China).Based on the empirical data,this paper found that the free trade policy was Pareto improvement both to China and U.S.,but the improved level of China's welfare was lower than U.S..Under the countercyclical trade policy,the welfare gap between U.S.and China was supposed to expand in future.

WEALTH REDISTRIBUTION IN INFLATION SHOCKS——Based on the Comparison of China and the United States

XIAO Zheng-yan, CHENG Dong, DAI Yi-qun

2011, (6):  49-58. 

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Based on micro-survey data,this study focused on the wealth redistribution effect of inflation in China and the United States.Our quantitative results showed that inflation shocks would erode the wealth of Chinese household sector and deteriorate the wealth redistribution between different households while the result of the United States was quite opposite.Therefore,from the perspective of wealth redistribution effect,we proposed that Chinese government should put more emphasis on people's livelihood and take effective measures to reinforce the tolerance ability of the poorest against inflation shocks.

THE RELATIONSHIP BETWEEN TRADE OPENNESS AND INFLATION PERSISTENCE IN CHINA

LI Jie, PANG Hao

2011, (6):  59-68. 

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Using the modified formula of comprehensive trade intensity and Kalman filter,this paper estimated the degree of trade openness and time-varying inflation persistence in China since the reform and opening up,and investigated the relationship between trade openness and inflation persistence empirically.The results showed that: the change in the degree of trade openness in China showed significant stage characteristics;inflation persistence was in the process of fluctuations,which showed a declining trend;the increasing in the degree of trade openness had significantly negative impacts on the inflation persistence.

ECONOMIC CONSEQUENCES OF THE 2011 TOHOKU PACIFIC EARTHQUAKE

GANG Jian-hua, HE Qing

2011, (6):  69-76. 

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The paper studied possible economic consequences of the 2011 Tohoku Pacific earthquake to Asian economy.In particular,we discuss the economic spillovers to China and regional economy and their policy implications.Our result showed that Japanese sovereign debt would deteriorate heavily due to the considerable reconstruction bill.Japanese manufactory sector would relocate abroad at a higher speed because of the incentive to stabilize production.Japanese role as the reserve currency and dominant funder of regional(Asian) economies would be challenged.As the biggest economy in Asian,China should take the role as a core power engine in Asian economy by exporting currency and capital assets.China should also actively fund the infrastructure reconstruction and the Asian Development Bank so as to exporting considerable excess liquidity to ease domestic inflation.A widely used and reserved currency should both benefit Chinese macro economy and regional multilateral co-operations as well.Finally,China should provide favorable policy for Japanese industry to move inland so as to benefit from hi-tech know-hows and employments.

QUIT INTENTION:EXPLANATIONS FROM JOB CONTROL AND THE LOVE OF MONEY

HE Hui, ZHANG Xin-an, FENG Ren-zhong

2011, (6):  77-84. 

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Why employees quit their jobs? It is an interesting question in the theory of management and organization.This paper addressed this issue from two variables of job control and the love of money,and further investigated the interaction between these two variables.A survey from 319 samples showed that the quit intention was negatively related to job control,while positively related to the love of money.Moreover,there existed an interactive effect between job control and the love of money.Stronger is the effect of the love of money,weaker is job control negatively on the quit intention.

INTERNATIONAL COMPETITIVENESS,MARITIME TRADE AND ARBITRAGE:THE INVESTIGATION ON INFLOW OF SILVER IN THE LATE MING DYNASTY

CHEN Kun, WANG Zu-jie

2011, (6):  85-93. 

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From the late Ming dynasty to the 1800s,it was rare in the history of world trade that China maintained a huge trade surplus for two and a half centuries.Massive inflow of silver in the late Ming dynasty was based on two factors: the trade surplus and arbitrage.This article examined the mechanism of forming the factors.Similar to the period of the late Ming dynasty,China today also maintained massive trade surplus,which was caused by the interventions of China's government on foreign trade.We could not simply argue the significance of the trade surplus to China.The key is whether the level of trade surplus is compatible with economic development,economic structure and other factors in China.

THE IMPACT OF VOCATIONAL QUALIFICATION CERTIFICATES ON TECHNICAL WORKERS' SKILLS AND EARNINGS——Evidence from Twenty-one Workshops in Five Enterprises in the Manufacturing Industry

SU Zhong-xing, ZENG Xiang-quan

2011, (6):  94-102. 

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The promotion of vocational qualification certificates is one of important labor and employment policies in China,which is the primary mean of non-degree vocational education for employees,and is also significant for training human capital and activating labor market.Using micro data from twenty-one workshops in five manufacturing enterprises,we tested the impact of different levels of national vocational qualification certificates on technical workers' skills and earnings.Results showed that national vocational qualification certificates were positively correlated with skill levels of technical workers.We also found significantly positive relations between vocational qualification certificates and the earnings of technical workers.Compared with workers who had not any certificates,the primary worker(Level 5) and intermediate worker(Level 4) certificates could bring about 9.5% wage premium,and the advanced worker certificates(Level 3) could bring about 11% wage premium,while the wage premium of technician or higher level certificates(Level 2 and Level 1) was increased significantly to 24%.The further analysis revealed that workers' skills fully mediated the relations between the earnings and the certificates of Level 5,Level 4 and Level 3,partially mediated the relations between the earnings and the certificates of Level 2 and Level 1.

EMPIRICAL ANALYSIS ON AGGLOMERATION IN CHINA'S EQUIPMENT MANUFACTURING INDUSTRY

LIU Wen-yong

2011, (6):  103-112. 

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This paper studied the agglomeration of China's equipment manufacturing industries.Seven industries show significant features of agglomeration.But compared with the production value,their levels of agglomeration in profit and employment are relatively low.From geographical perspectives,the Bohai Economic Rim,the Yangtze River Delta,the Pearl River Delta,and their neighborhoods are the main areas of agglomeration in China's equipment manufacturing industries;the Yellow River Drainage Area and the Yangtze River Drainage Area drainage area are the main agglomeration areas in general and special equipment manufacturing industries;the three northeastern provinces show certain features of agglomeration in general equipment and transportation equipment manufacturing industries.Economic scale,monopoly power,foreign direct investment and national policies are significant causes of agglomeration in equipment manufacturing industries.