Table of Content

16 January 2005, Volume 25 Issue 1

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ESTABLISHING MARKET ORDER DURING ECONOMIC TRANSITION

HONG Yin-xing

2005, (1):  5-11. 

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Establishing perfect market system and market order needs self-conscious actions, removing market segmentation and executive monopoly. It also needs both formal and informal institutions, in cooperative ways.

CHINA'S MACROECONOMIC SITUATION & POLICIES:2004-2005

Institute of Economic Research, Renmin University of China

2005, (1):  12-17. 

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In 2004, China'economy expect to continue performing the favorable combination of rapid growth and low inflation, and complete its cyclical transformation from depression to prosperity. However the overall economic condition has turned down. China’s macroeconomic management should keep its continuity and stability in policy orientation, and set forth a demand-management policy target like HSGR(highest-sustainable-growth-rate).Thorough the successful transformation of positive fiscal policy and the moderately expansionary operation of sound monetary policy, a consistent policy mix should be built around the axis of increasing domestic investment demand, to enhance the sustainable and rapid economic growth.

ECONOMIC GLOBALIZATION AND NEW TRIFFIN PARADOX

CHEN Zhi-ang

2005, (1):  18-23. 

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The nowadays worldwide imbalance of payment is in some sense the Triffin paradox. Based on the terms to stable system, from the perspectives of market competitive structures of key moneys, effectiveness of exchange rate adjustment, international cooperation mechanisms, wealth effects under the financial globalization, and financial weakness of developing countries. In order to solve the imbalance of payment, the first thing is to solve the twin deficit of developed countries, especially USA, change the asymmetrical international monetary system, establish the international cooperation mechanisms, and reduce the welfare loss of developing countries.

A Study of Exchange Rate Theory on Fictitious Economy Theory Perspective

LIU Jun-min, WANG Guo-zhong

2005, (1):  24-30. 

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With the economic virtualization, value system becomes the key to the whole market economy and the material production and circulation. Exchange rates, price ratios of virtual assets and real goods, are the relationship among the value systems of two or more countries. Traditional exchange rate theories are found to be weaker. By reviewing classical trade theory, comparative advantage theory, Mundell-Fleming model, assets portfolio balance model and money analysis, this paper shows that it is the international capital flows that weaken the traditional theories under the economic virtualization.

ENERGY INDUSTRY: DIVERSE EQUITY STRUCTURES AND THE FORMATION OF EFFECTIVE COMPETITION

WU An

2005, (1):  38-43. 

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The equity and diverse investors of energy industry are directly affected by the financial system, and so is one of the measurements of marketization of energy industry. Analyzing the equity and investors is very helpful for recognizing the extent of the marketization, and therefore for improving the energy industry system and its efficiency.

JOINING SOCIAL INSURANCE OF TECHNICAL PERSONS OF NON-STATE-OWNED ENTERPRISES: SITUATIONS AND AFFECTING FACTORS

SUN Jian-min, ZHANG Ming-rui

2005, (1):  44-49. 

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Significant differences are seen in participation scales of social insurance by technical persons of non-state-owned enterprises in Beijing, Tianjin and Shanghai, with biggest scale of pension insurance, smaller of medical, and smallest of unemployment. Meanwhile, great differences are also seen in the affecting factors in the three cities, and among the important ones are labor contracts, local registered residence, and income level.