Table of Content

20 February 2013, Volume 33 Issue 2

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SOME OPINIONS ON THE REFORM OF STATE-OWNED ECONOMY

LIN Gang,ZHANG Chen

2013, 33(2):  5-15. 

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Since the reform and opening up, as the same time as great achievements made in the reform and development of China's stateowned economy, there were some critiques of popular community such as: the low efficiency of state-owned enterprises, state-owned enterprises monopoly theory, the state advances as the private sector retreats, state-owned enterprises to withdraw from the competitive field theory. This paper clarified these erroneous views and provided some opinions on the reform of state-owned economy.

THE ROLE OF THE INDUSTRY COLLECTIVE NEGOTIATION ON SAFEGUARDING THE MIGRANT WORKERS'RIGHTS

YANG Cheng-Xiang-1,LIU Lei-2

2013, 33(2):  16-23. 

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his paper showed the industry collective negotiation could change the way of migrant workers 'safeguarding their rights, and express the migrant workers individual interests, in order to improve the absolute weak position of migrant workers on economic status. This paper argued that some issues required to resolve including cultivating the industry collective consultation subject, improving relevant laws and regulations and correcting the right role of government to improve the system of the industry collective negotiation.


ON THE VALUE OF CHINA'S ECONOMIC SYSTEM ——From the Perspective of Fairness and Justice

LIU Jing-Lu

2013, 33(2):  24-30. 

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The 18th CPC National Congressadopted a comprehensive plan for deepening reform and opening up in an all-around way, which improved the fairness and justice on the value of our economic system.The economic system as a value existed must have or carry the specific purpose of value.There was value and purpose of fairness and justice.Any economic system had not only the value of the purpose of various elements, but also the overall value of the purpose, which both hadsome degree of fairness and justice issues.Public ownership required achieving common economic well-being of the unified equality of all the people, whichwas the fundamental and overall value of the purpose of the economic system in China. It in essence was fairness and justice, which fully showed the dominant position of all the people of our country in the economic institutional.Based on the value of fairness and justice, China should further improve the relationship between the elements of value for the purpose of the economic system.


A RE-ESTIMATION ON CHINA'S ASSETS SHORTAGE

FAN Cong-Lai,LIU Shao-Bao,LIU De-Su

2013, 33(2):  31-42. 

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This paper re-estimatedthe Chineseassets shortage by the method of the modified C-I index. This study indicated that China had already entered the assetshortage stage as early as 2000. Although the extent of China's assets shortage was reversedduring the only periods, this originated mainly from additional project loans, from that microeconomic entities held additional shortterm deposits, from that national savings increases slightly or even declines, and from that transnational capital was from original inflow into outflow.Further study found that the risks faced for piercing assets bubbles and the lack of capacity to intervene with excessive risk-taking behavior of agents, which required that government should respond actively to the asset bubbles caused by assets shortage combined with implementing bubbles classification management in the short term.

THE PERMANENT IMPACTS OF POPULATION AGING ON CHINESE ECONOMY AND ITS POLICY SUGGESTIONS

GUO Xi-Bao-1,LI Tong-Ping-2,YUAN Bei-3

2013, 33(2):  43-50. 

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Based on the recent official census data in China and UN population forecast, this paper examines the adverse effects of aging population on labor supply, capital formation, the industrial sectors such as housing and carmaking,as well as technological innovation. Facing the challenges of increasing severe aging, it is necessary to set up new scientific concepts of population development, loose and finally eliminate birth control policy, postpone retirement age gradually, carry out the industrial adjustments matched with the change of population structure, promote the development of industries related to the aged people.

FDI AND HOUSE PRICE

KUANG Wei-Da

2013, 33(2):  51-58. 

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Based on stock model, this paper developed a partial equilibrium model of real estate market combined with foreign invest to illustrate the impact of foreign invest on house price. The theoretical model showed that foreign investment inflow in demand side would cause house price increase, while foreign investment inflow in supply side would render house price decline. Employing the real estate price and FDI data of Chinese large and medium cities over the period 1996—2010, this paper found that FDI negatively affects the house price. On the other hand, the impact of FDI on house price was greater than that of house price on FDI. Accordingly, in order to prevent house price from bubble, the policy-makers were supposed to not only strictly restrict “hot money” in demand aspects, but also facilitate foreign investment flux into real estate development. In addition, household income was the paramount determinant in house price variation.The faster did the city urbanize, the faster the house price would increase.

CHINA'S PERSONAL INCOME TAX: HOWTO ADJUST THE INCOME DISTRIBUTION

SHI Zi-Yin

2013, 33(2):  59-65. 

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The personal income tax contained a trade-off between efficiency and equity, whichwas consideredconventional wisdom in the public finance literature. But the tax evasion was ignored. Taking the tax evasion into the analysis, the adjustment mechanism of personal income tax was different under different conditions, where both efficiency and equity could be achieved. This paper analyzed the effect of the hidden income on adjustment mechanism of personal income tax, and concluded that there existed two adjustment mechanisms for personal income tax, one with high structural progressive and the other with low structural progressive. The regulation of income distribution could be achieved throughpersonal income tax with low structural progressive other than high structural progressive in China.

THE IMPACT OF OWNERSHIP STRUCTURE ON THE TOTAL FACTOR PRODUCTIVITY OF INDUSTRIAL DIVISIONS ——From the Perspective of Deregulation

ZHANG Hong-Feng-1,ZHANG Zhao-Zhong-2

2013, 33(2):  66-77. 

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By using DEA method, this paper divided the total factor productivity of 30 manufacturing industries in China, and analyzed the impact of ownership structure on TFP. The major findings included as follows.The TFP of manufacturing industries in China had been increasing evidently since 2000, while technical progress existed. But the industries could notabsorb the advanced technology effectively. The ownership structure negatively correlated with TFP. Enhancing market competitiveness would promote technical progress and TFP. The deregulation-oriented property rights structure reform and market structure reform wereparalleled and mutually improved.

THE EVALUATION AND DYNAMIC ANALYSIS OF ECOEFFICIENCY
——Based on Panel Data of Western China's Provinces 20002010

ZHANG Xue-Mei

2013, 33(2):  78-85. 

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This paper evaluated the eco-efficiency based on DEA model and Malmquist productivity index based on the data of western China's provinces from 2000 to 2010. The results showed as follows:the average value of eco-efficiency was less than 1 since the west development, which did not reach the most effective production frontier, but the whole eco-efficiency increased with fluctuations cross periods; there were the striking differences among provinces from two respects of efficiency and redundancy rate; such pollutants as waste gas, industrial waste water and solid wastes and such natural resources as energy were major factors influencing the eco-efficiency; the promotion of western eco-efficiency was mainly due to the contribution of technological advance, however, the contribution of technical efficiency was insignificant and the contribution of scale efficiency was negative. Finally, this paper pointed out the policy implications on the basis of the empirical conclusions.

SOCIAL CAPITAL AND INDUSTRIAL AGGLOMERATION IN REGIONS:THEORETICAL MODEL AND CHINESE EXPERIENCE

DAI Hong-Wei-1,DING Jian-Jun-2

2013, 33(2):  86-99. 

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This paper combined social capital theory with the constructed capital model (CC model) of new economic geography (NEG), constructing a model of social capital and industrial agglomeration in regions and studying the micromechanism which social capital caused industrial agglomeration. Theoretical analysis showed that the more a region owns social capital, the higher degree industries agglomerated in. By using the data of 26 manufacturing industries in 30 provinces (except Tibet) in 2004,after controlling the influences of location,economic function, market potential,human capital, policy factors, this paper showed that social capital had a significant effect to industrial agglomeration. Thus, we could safely reach the conclusion that promoting social capital in central and western regions helped to establish their selfdevelopment capabilities, and narrow regional disparities.

CHINESE MNC'S ENTRY MODE OF FOREIGN MARKET UNDERINNOVATION,AND OWNERSHIP ADVANTAGE

ZHAO Jing-1,WANG Gen-Bei-2

2013, 33(2):  100-112. 

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Entry mode was one of the main topics of business strategy.This paper focused on the impacts of the micro-factors. Empirical results showed that there was a positive relationship betweengreenfield investment and Chinese MNCs'self-dependent innovation and internationalization experience, while there was a positive relationship between acquisition and Chinese MNCs'economies of scale and ownership advantage. Secondly, concerning the choice between joint venture and sole venture, there was a positive relationship between acquisition and Chinese MNCs'economies of scale and ownership advantage. This implied the host's culture distance, government's management level and infrastructure might not impact the foreign market entry model of Chinese MNCs,while it was the Chinese MNCs'economies of scale and ownership advantage rather than self-dependent innovation and internationalization experience always to play important role in deciding their entry modes. This might be the main causes that Chinese MNCswere short of quality rather than quantity.