Table of Content

20 June 2013, Volume 33 Issue 6

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STUDY ON MAIN INFLUENCING FACTORS AND CONTRIBUTION RATE OF INCOME GAP BETWEEN URBAN AND RURAL RESIDENTS OF CHINA ——Based on the Data Analysis of 6 937 Residents Questionnaires from 31 Provinces

SUN Jing-Shui,HUANG Qiu-Hong

2013, 33(6):  5-20. 

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Based on 6 937 residents' questionnaires from 31 provinces, this paper applied Mincer income model and Oaxaca-Ransom decomposition method to analyze empirically the main influencing factors of urbanrural income gap in China. The results showed that the income gap between urban and rural residents of China was large, and Gini coefficient had exceeded the warning line. The personal and family characteristics of household, human capital, regional differences and differences between urban and rural areas had significant impacts on the household income. For the urban-rural income gap, the contribution rate of education level differences was the largest one, the contribution rates of urban-rural dual structure differences and the basic personal and family characteristics differences were larger, and the contribution rate of regional differences was in minimum. Some policy recommendations to narrow the urban-rural income gap were provided in this paper.

RESEARCH ONTHEGROWTHANDEFFICIENCY OF CHINESE
NATIONALINCOME UNDER OPEN CIRCUMSTANCE

FAN Zhi-Yong-1,SONG Jia-Yin-2,WANG Bao-Kui-1

2013, 33(6):  21-30. 

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Basedoneconomicindextheory,thispaperconductedthegrowthaccountingofChinesenationalincomeandthecomparisonamongsomeBRICScountries.
ThispaperfoundthatcapitalaccumulationandTFPprogresshadbeenthemostimportantdrivingforcesofChineserealGDIgrowth,
butthedeteriorationoftermsoftradehadreducedtheannualGDIgrowthratebyonepercentagepointsince2000.
MostBRICScountriesattributedtheirrapidgrowthtofactorsinputs,andthefoundationsforsustainable
growthwerenotquitesolid.

TRANSFORMATION OF CHINA’S ECONOMIC GROWTH
UNDER INERTIAL CONSTRAINT

LV Jie-1,HU An-Gang-2,YAN Yi-Long-2

2013, 33(6):  31-43. 

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China’seconomicreformwasimpelledbythedrivingforceandtheinertialconstraintforceformedbypathdependence.ThispaperinvestigatedthetransformationofChina’seconomicgrowthbyintroducingthemechanismofgrowthinertiaandanalyzedtheformationof
rowthinertiaindifferentperiods.ThispaperfoundthatChinahadspent16yearsontransformingfrom“lowgrowth,highfluctuation”to“highgrowth,lowfluctuation”.ThesourceofChina’seconomicgrowthinertiahadchangedfromthe
diverseeconomicmodel,theuniquedecentralizedstructure,aswellasunderthetraditionalplannedeconomicsystemdependentonprogressiveincrementalreformtotheblindpursuitofhigheconomicgrowth
andtheGDPworshipunderlongtermexpansiondevelopmentmode.

A STUDY ON LEWISTURNING POINT,THE SECOND DEMOGRAPHIC
DIVIDEND AND SUSTAINED ECONOMIC GROWTH

MENG Ling-Guo,WANG Qing

2013, 33(6):  44-53. 

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Thispaperstudiedontherelationshipbetweentherealizationoftheseconddemographic
dividendandsustainedeconomicgrowthfromthreeaspectsonhumancapital,savingsandinvestmentand
institutioninnovation.Firstly,thispaperappliedamodifiedCobb-DouglasproductionfunctionandSolow
growthmodeltomakeanempiricalanalysisonpaneldataofChina’s31provinces.Secondly,systemGMM
estimationwasusedtotesttherelationshipbetweeneconomicgrowthandthefactorsthataffecttherealizationoftheseconddemographicdividend
Theresearchshowedthatageingofthepopulationdidnotnecessarilyleadtoeconomicrecession.
Humancapitalandsavingratehadpositiveinfluenceoneconomic
growth.TheinitialGDPpercapitahadanegativeimpactoneconomicgrowth,whichindicatedconditional
convergenceinChina’sregionaleconomicgrowth.Thepopulationgrowthrateandlaborforceparticipation
ratehadnotasignificantinfluenceoneconomicgrowth.Finally,thispaperputforwardsomeproposals.

A LITERATURE REVIEW ON THE GOVERNMENT SPENDING
MULTIPLIER UNDER DIFFERENT ECONOMIC ENVIRONMENT

XU Xiang-Yun

2013, 33(6):  54-61. 

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Thegovernmentspendingmultiplierasanimportantcriteriontomeasuretheeffectsoffiscalpolicyhadalwaysbeenahottopicinmacroeconomicresearch.Manypapershadpointedoutthatgovernmentspendingmultipliervariesindifferenteconomicenvironment.
Thispaperreviewedthemechanismabouthowdifferentenvironmentaffectsandhowmuchthesizeofgovernmentspendingmultiplierwereaffectedfrmsixperspectives:exchangerateregime,theresponseofmonetarypolicy,financialfriction,
businesscircle,theparticipationtoassetmarketandthesituationofpublicdebt.SomepolicyimplicationsforChinawereprovidedinthispaper.

ANALYSIS ON THE TRANSFORMATION OF SOCIAL
INSURANCE FEES TO SOCIAL INSURANCE TAXES

PU Xiao-Hong,XU Zi-Chuan

2013, 33(6):  62-68. 

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ThemainobstaclesinthetransformationofsocialinsurancefeesintotaxesinChina’ssocialinsurancesystemwereconcernedwithbothformalbarriersandsubstantialobstacles.Theoreticalanalysis
andinvestigationsonsomeregionsindicatedthatthoseobstacleswereeithernonexistentoreasytobepassed.Thereforeitwaspossibletocollectsocialsecuritytaxes.Theformalbarrierswerenotreallyexistent
whilethesubstantialobstaclescouldbesolvedbymeasuressuchastaxreimbursementtopersonalaccountaccordingtotaxpaid,maintainingdual-collectionsystem,andstrengtheningindividuals’expectationonsocialinsurancesystem.

PUBLIC BADS AND SOCIAL DEVELOPMENT:
DILEMMA AND GOVERNANCE

LIU Rong,WANG Wen

2013, 33(6):  69-76. 

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Internetrumors,foodsafety,informationleakageandenvironmentpollutionwerethemajorproblemsduringthesocialdevelopmentincontemporaryChina.Thispaperanalyzedtheoverallcharacteristicsofpublicbadsfromtheperspectiveofpubliceconomics,
andpointedoutthemajorhazardoffourkindsoftypicalpublicbadsinChina.InordertopromotethesustainablesocialdevelopmentinChina,alegalregulatorysystemandapublicpolicysystemshouldbebuilttopreventandcontroltheproblemofpublicbads.
Theresponsibilitiesofgovernment,marketandthethirdsectorshouldbeclearedinordertolimitthedamageinaminimumrangeandsolvethedilemmaofpublicbads.

THE RELATIONSHIP BETWEEN BANK AND
ENTERPRISE:SYMBOLIC OR GRABBING

ZHANG Jie-1,WU Di-2

2013, 33(6):  77-90. 

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Thispaperfocusedonempiricalanalysisusingalargesampleofmicroenterprisedatatodistinguishwhethertherelationshipbetweenfinancialsystemsdominatedbylargebanksystemsandrealeconomywassymbolicorgrabbingunderthe
ackgroundofChina’stransformation.Theresultsshowedthat:expenditureonloancostsinprivateenterprisescausedsignificantsqueezeandinhibitoryeffectonenterpriseprofitsandassetgrowth.
Onthecontrary,stateownedenterprisesshowedsymboliceffect,whiletheseeffectsneitherexitedinotherownershiptypesofenterprises.Theseresultsconvincedthatbanksystembroughtaboutgrabbinghandeffectonprivateenterprises.

RELAXATION ON LOAN-TO-DEPOSITRATIO?
———Empirical Analysis Based on Chinese ListedBanks’Quarterly Data2007—2012

ZHAI Guang-Yu

2013, 33(6):  91-101. 

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Fromacontroversialissueofloan-to-deposit,thispaperstudiedtheliquidityofcommercial
banks,theroleofmacroeconomicregulationandcontrol,aswellasregulatoryarbitrage.Tocomparethe
liquidityindicatorsofassetandliabilitiestotheloan-to-depositratio,thispaperfoundthattheloan-to-depositwasconvincingtomeasurethebankliquidity.
Fortheeffectofmacroeconomicregulation,thecorrelationoftheloanbalanceandthemoneysupplywasweakenedyearbyyear.
Thewaythatreliedonloanto-
depositratiotolimittheloansizeandregulatetheinflationwasnotsustainable.Thispaperselectedthe
loanlossprovisionandshowedthatthelistedbanksingeneraldidnothavetheregulatoryarbitrage.

DYNAMIC IMPACTS OF ENVIRONMENTAL REGULATION
ON INDUSTRIAL UPGRADING PATH

XIAO Xing-Zhi,LI Shao-Lin

2013, 33(6):  102-112. 

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Environmentalregulationaffectedindustryupgradingmainlybydemand,technologicalinnovationandinternationaltrademechanism.
Thispaperanalyzedthemechanismeffectsonindustrialupgradingpathdirection,
andthenapplied30provincialdynamicpaneldatafrom1998to2010tostudythe
effectsofenvironmentalregulationintensityonindustryupgrading.Dynamicpanelestimationresults
showedthatChina’soverallenvironmentalregulationintensityhadpositiveeffectsonindustrialupgrading
pathdirection.Regionalresearchresultsindicatedthatthecentralandwesternregion’senvironmentalregulationintensitywasnotsignificantwithindustria
upgrading,whiletheeasternregion’senvironmental
regulationintensityhadacceleratedindustrialupgrading.China’senvironmentalregulationintensityselectionshouldconsidertheregionaldifferences,
andreasonablysloweddownthespeedofeconomicgrowth,
tostrengthenmanpowercapitalconstructionandadvancemarketingreform,andprovidedthenecessary
policiesandsupporting measuresto makesurethatenvironmentalregulationandindustrialupgrading
wouldhavethecollaborativewin-win.