Table of Content

16 April 2006, Volume 26 Issue 4

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INTERNATIONAL COMPARISON: FACTORS ON DOMESTIC CURRENCY APPRECIATION IN NEWLY ESTABLIED MARKET COUNTRIES

Research Group of RMB Appreciation, School of Finance, Renmin University of China

2006, (4):  5-12. 

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Uhis paper investigates the fundamental factors driving the local currency revaluation in the major emerging economies.We find that among all the factors,trade account surplus,financial account surplus,and rapid GDP growth are the major underlying ones.The empirical study based on panel data of sample economies supports our finding.The propositions would have important policy implications for China as an emerging economy facing pressure of Renminbi revaluation: Chinese government should consider the above factors firstly and carefully when making macroeconomic policies against Renminbi revaluation.

FACTORS ACCUMULATION,GOVERNMENT POLICY AND THE URBAN-RURAL INEQUALITY IN CHINA

LIU Wen-xin, LU Yun-hang

2006, (4):  13-20. 

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The analysis based on the provincial panel data during 1987~2003 shows that the popularization of basic education decreases the urbanrural inequality.And we also find that the convergence of capital and high human-capital from country to city tend to enlarge the urban-rural inequality.These are effects of factor accumulation disparity.On the other hand,while urbanization significantly reduces the urban-rural inequality,both the open-door policy and the expanding of government expenditure enlarge the urban-rural inequality.These are effects of government policy.

EFFECTS OF FDI ON CHINESE ECONOMIC DEVELOPMENT: POSITIVE ANALYSIS AND POLICY RECOMMENDATION

LIU Wen-yong, JIANG Ren kai

2006, (4):  21-26. 

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This paper argues that the effects of FDI on Chinese economic development are:(1) the negative effect on economic growth of employment increment in FDI firms is less than those of other firms;(2) increase in FDI has direct creation effect on employment,while destroying effect on employment of other firms;(3) exports of FDI firms have strong relations to the economic growth of both world and China,while weak to FDI;(4) FDI has obvious spill-over effects on technological progress of domestic firms,while weak on autonomous innovation abilities of domestic firms.

AMARTYA SEN'S APPROACH OF CAPABILITIES:APPLICATIONS IN DEVELOPMENT ECONOMICS

WANG Yan-ping

2006, (4):  27-32. 

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Amartya Sen,who is the Nobel laureate in 1998,put forward firstly the approach of capabilities,and defined development as expanding capabilities of human beings and improving freedom.Sen's approach of capabilities has great effects on human development reports by United Nations,and is very important for making Chinese development plans and policies as well.

CHINESE REVOLUTION OF FOODSTUFFS PRODUCTIVITY

CHEN Wei-ping, ZHENG Feng-tian

2006, (4):  56-61. 

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This paper estimates,using Tornqvist-Theil Index,changes in total factor productivity and their contributions to output growth,between 1953 and 2003,of the big three foodstuffs—rice,wheat,and corn.It finds that those TFP grow positively but fluctuate obviously.With the year 1979 as a dividing line,a revolution of Sources of Chinese foodstuffs growth is seen from increasing the inputs into improving TFP.Since 1997,decrease in foodstuffs output growth results from the decrease in inputs.For policy recommendation,it argues that China has to rely on improving the productivities of foodstuffs,and increase the returns of supply and establish the sustainable mechanism of foodstuffs inputs.