Table of Content

16 September 2010, Volume 30 Issue 9

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ANALYSIS OF CHANGES OF CHINA'S AGRICULTURAL TOTAL FACTOR PRODUCTIVITY AND ITS IMPACT FACTORS——From the 1991—2008 Annual Malmquist Index Approach

FANG Fu-qian, ZHANG Yan-li

2010, (9):  5-12. 

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This paper analyzes the changes of agricultural total factor productivity(TFP) in China's 29 provinces,municipalities and autonomous regions,and discusses reasons for the differences of TFP growth in agriculture.First,the authors select the input and output indicators according to KS and T tests;and then they calculate TFP index of China's agriculture and its components using non-parametric Malmquist index method.Finally,they analyze the factors impacting agricultural TFP with panel two-stage least squares.The results show that:(Ⅰ) the effect that rural practitioners have on the efficiency value of agricultural production is rather obvious;(Ⅱ) technological progress is the main reason for the growth of agricultural TFP;(Ⅲ) the inter-regional difference in agricultural TFP is relatively large;(Ⅳ) both the level of fiscal support for agriculture and the role that agriculture plays in the overall economy have significant impact on the changes of agricultural TFP.

CHARACTERISTICS,INFLUENCE AND STRATEGY OF CHINA'S FOREIGN TRADE:FROM THE GLOBAL VALUE CHAIN APPROACH

ZHANG Shao-jun, DONG Gang

2010, (9):  13-19. 

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The global value chain(GVC),a new organizing and governing power,has caused drastic changes in today's international trade,and also made a profound impact on China's foreign trade.Firstly,this article summarizes six characteristic facts of present international trade under the influence of GVC.Secondly,it reveals the fact that under the surface of the rapid growth of China's foreign trade,there exists such an organizing and governing power as GVC.Finally,it points out the challenges that China's foreign trade is facing,with as well as their solutions.

DYNAMIC STATE FEEDBACK MECHANISM BETWEEN HETEROGENEOUS BOUNDEDLY RATIONAL EXPECTATION AND THE REAL ESTATES PRICE

SHEN Yue, ZHOU Kui-sheng, ZHANG Jin-mei

2010, (9):  20-28. 

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Based on the theory of Heterogeneous boundedly rational expectation,and using the System Dynamics Simulation method,this paper analyzes the dynamic state feedback mechanism between the expectation of real estates developers,self-use owners,and owners as real estates investors,and the price of real estates,as well as the impact this mechanism has over the real-estates price.This research finds that:(Ⅰ)Positive feedback exists between real estates price and the expectation of real estates developers and investors,While both a negative and a positive feedback exist between real estates price and the expectation of self-use owners;(Ⅱ) Before 2006,the effect of the negative feedback between the expectation of self-use owners and the real estates price was not obvious,while the positive feedback between the expectation of real estates developers and self-use owners and the real estates price became the main force of pushing the real estates price to continuously increase.(Ⅲ) Since 2007,the growth of the real estates price became severely irrational regardless of the market demands;(Ⅳ)In order to curb the demands for real estates as a means of investment,the "block-pressure" policy should be taken,and in the meantime more attention should be paid to guiding folk capitals to flow towards real economy.

STUDY OF EMPLOYMENT FLUCTUATION IN THE ECONOMIC CYCLE:A REVIEW OF THE LATEST DEVELOPMENT

DING Shou-hai, Li Shu-ying, ZHANG Xiao-li

2010, (9):  29-34. 

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Through summarizing latest overseas literatures,the authors find that:(Ⅰ) in an economic cycle,employment fluctuation has certain hysteresis;(Ⅱ) there is a huge difference in the patterns of employment fluctuation of different sectors;(Ⅲ) different sources of influence have entirely different impact on the employment fluctuation.

OVERSEAS RESEARCH ON THE "RESOURCE CURSE":A LITERARY REVIEW

XIE Ji-wen

2010, (9):  35-40. 

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This article reviews and sorts the abundant research outcome of overseas scholars on the proposition of "resource curse",conducting review from the proposition's origin,existence test and transmission channels to policy suggestions.Finally,the article points out the future research direction of this proposition based on the contents mentioned above.

A STUDY ON THE IMBALANCED ECONOMIC GROWTH STRUCTURE AND THE FINANCIAL SYSTEM

LI Yong-you

2010, (9):  41-49. 

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Based on the Chinese governance model,this paper,from the financial perspective,studies the endogenous mechanism of imbalanced economic growth in China.It concludes that the imbalanced growth structure is related to the fiscal system in China.The revenue system which was established in 1994 reduces the consuming capacity of the public but also lowers their consuming propensity within the distorted fiscal expenditure structure.To balance the economic growth,it is necessary to reconstruct the institutional framework of fiscal revenue and expenditure.Establishing the people-oriented fiscal revenue and expenditure structure,will encourage the public to consume and have money to consume.

THE MOTIVATIONS AND STRATEGIES OF LOCAL GOVERNMENTS TO PROMOTE THE NEWLY-EMERGING INDUSTRY UNDER THE DUAL INCENTIVE MODEL

CHEN Ling, LIN Ze-liang, XUE Lan

2010, (9):  50-56. 

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This paper builds a Dual Incentive Model of industrial policy implementation in China to explore the patterns of local policy implementation under political and financial incentives.The authors select the new energy automobile industry as the case for study.According to the investigation of policy implementation at the local level,the authors find that the motivation of local governments to carry out central government's industrial policy mainly comes from developing local economy.Because the benefits of new industry cannot be realized in a short time and is largely dependent on local resource endowment,the level of local financial incentives vary by locality and is highly uncertain.Consequently,local government officials choose very different strategies in responding to the actions of the central government.Implications are drawn from the analysis with regard to formulating and implementing policies for emerging industries.

A RESEARCH ON CAPABILITY CONSTRUCTION FROM THE PERSPECTIVE OF SOCIAL EMBEDDEDNESS

WANG Tao, DENG Rong-lin

2010, (9):  57-62. 

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After analysis of capability differences of different enterprises in the social network,the paper presents the pattern of capability construction through gradient transfer.The mechanism of social embeddedness provides the basic support through strengthening the networking of enterprises.Structural embeddedness expands the width of the dimension based on the characteristics of network,while relational embeddedness can enhance the depth of the dimension based on corporate behavior.The integration of both models can promote the knowledge interaction that crosses the organizational boundary and sustain the stability of capability gradient transfer.

CSR ORIENTATION,BEHAVIOR AND MANAGEMENT:A SURVEY STUDY OF CHINESE MANAGERS

YIN Jue-lin, ZHANG Yu-li

2010, (9):  63-70. 

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This paper analyzes the CSR orientation,behavior and management based on a survey study of Chinese managers.The results show that: Chinese managers place relatively high importance on CSR and exhibit a tendency of regarding CSR strategically;businesses involve themselves in socially responsible activities in a sketchy way,restricted mainly to philanthropic events;CSR management lags behind CSR perception and behavior,which means that enterprises tend to turn to implicit means to ensure CSR implementation rather than explicit means such as code of ethics and training.Meanwhile,sex,region,industry experience,education and stage of growth significantly influence the CSR orientation,behavior and management of Chinese enterprises.

THE EFFECTS OF WORLD OIL PRICE SHOCKS:A SURVEY

CHEN Ye-hua, LU Jin-ying

2010, (9):  71-75. 

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Drastic vibration of crude oil prices from the year 2003 to 2007 played an important role in the explosion of world financial crisis in 2007,and is closely relevant to the economic recovery of global economy.This article reviews most of the seminal literature about the determination of the world oil price from the various perspectives of oil price and the pricing mechanism,the impact of oil price shocks on the real economy and the financial market,as well as solutions and strategies of the problems.Against the background of present global economic recovery and as most of the existing literature study developed countries,the purpose of this article is to point out the valuable research orientation for the analysis of the effects of world oil price shocks on Chinese economy and her financial market.