Table of Content

16 October 2014, Volume 34 Issue 10

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THEORETICAL STUDY OF ALLOWING THE MARKET TO PLAY A
DECISIVE ROLE IN ALLOCATING RESOURCES AND IMPROVING
 THE GOVERNMENTs ROLE

HONG Yin-Xing

2014, 34(10):  5-13. 

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To straighten out the relationship between government and the market, allowing the market to play a decisive role in allocating resources and improving the governments role, it follows the definition of market economyThe role of market in resources allocation is not only the choice mechanism, but also the motivate mechanismThe fundamental meaning of the market transfers from a basic role to a decisive role in allocating resources is to allow the markets to take the lead and break away from government controlTo confirm the decisive role of the market is to clarify the new orientation of Chinas reformThe high efficiency of resources allocation cannot be achieved as soon as the market opensDisorderly market allocation of resources cannot reach the Pareto optimalIn order to improve the market mechanism, the government should rule the order of market and foster the market playersThe governments role is still determined in the allocation of public resourcesImproving the governments role is not only out of the market role, but also to improve the market mechanismThe behavior of government should follow the market order

RETURNING THE CONTRACTED LAND TO THE COLLECTIVE IN
 THE PROGRESS OF FARMERWORKER CITIZENIZATION AND
A NEW APPROACH TO INSTITUTIONAL REFORM IN CHINA

GUO Xi-Bao

2014, 34(10):  14-23. 

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This paper argues that the citizenization of farmerworkers is a comprehensive and overall process, for which we should not only rely on the reform of the household registration system ,but also on the land reformThe paper offers a new way to solve the problems of the reforms on the household registration system and the land system from a new perspective of redefinition of the village collective membersIn the view of this paper, by changing the static collective members into the dynamic collective members, one can easily solve dual dilemma of both rural decline and contracted land return with compensation in the citizenization of farmerworkers simultaneously

THE IMPACT OF THE AGEINCOME MODE TO
CHINESE RESIDENT CONSUMPTION RATE

HU Yu-Shan-1,WANG Ya-Hua-2

2014, 34(10):  24-37. 

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The consumption rate in China has been low and has shown a sustained decline since 1978, the influential factors of residents consumption rate have become a hot topic in academic circlesThis study is aimed at exploring the intrinsic link between the declining consumption rate and the unique ageincome structure which appears in the transition period in ChinaThis paper uses mathematical models to discuss the effect of the unique ageincome mode in China towards the urban resident average propensity to consume, and proves that the effect of positive or negative depends on the ratio of healthy life time over the whole life time, and this propensity may reduce Chinese household consumption rateIn addition, this paper uses the data from 1995 to 2011 to find that the negative impact of this unique ageincome mode on urban resident average propensity to consume and household consumption rate is around 16%~17% and 2%~3% respectively

RESEARCH ON TRANSPLANT OF LABOR
STANDARDS BASED ON BUYERSLED MARKET

SHI Jin-Chuan,LI Xian-Xiang

2014, 34(10):  38-47. 

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Competitive market has prompted more and more enterprises in developing countries to become part of the labor certification of the supply chain．Based on buyersled market structure，this paper uses the information rent model to analyze labor standards transplant in China．The study shows that，the existence of high labor standard is the equilibrium on pursuit of rents between the sellers and buyers．When the suppliers type of distribution does not meet the monotone hazard rate property，there will be a low standard pooling equilibrium which helps buyers maximize real remaining with buyers market forces．When the buyers are riskaverse，the final equilibrium labor standard is higher than that is riskneutral．Meanwhile it will also improve the welfare of buyers and sellers．

REVIEW OF LEADERSHIP RESEARCH IN EXPERIMENT ECONOMICS

HUANG Guo-Bin,ZHOU Ye-An

2014, 34(10):  48-59. 

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Traditional economics paid far from enough attention to the important role of leadership, such embarrassing situation had lasted until the emerging of behavioral and experiment economics in recent yearsTo sum up, the research of leadership in experiment economics includes interorganizational leadership research and intraorganizational leadership research, whereby intraorganizational leadership research mainly composes of asymmetric information and public goodThe present experimental research of leadership will be an important part of the emerging behavioral industrial organization, behavioral institutional design and behavioral political economyThe possible future of leadership study includes field experiment, the base of preference and dynamic model

THE EFFECT OF CHINAS INTERMEDIATE
 GOODS TRADE ON SKILL WAGE GAP

DING Shou-Hai-1,XIONG Yu-2,XU Shan-1

2014, 34(10):  60-76. 

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This paper analyzed the effect of intermediate goods on skill wage gap and theoretically proved that the effect of it varied in different labor conditionsIn the condition of unlimited labor supply skill wage gap was determined only by the absolute demand of skilled laborWhile intermediate goods trade could increase the latter, it would necessarily increase skill premiumBut when labor condition converted to limited supply, skill wage gap would be determined by comparative demand of skilled laborHowever intermediate goods trade could not necessarily increase the latter, in those sectors such as lowtechnology industries where the substitution possibility between skilled labor and unskilled labor was high intermediate goods trade tends to lower the comparative demand of skilled labor and skill wage gapUtilizing the panel data from 33 industries of 5 years, this paper verified above propositions

STOCK MARKET DEVELOPMENT AND INCOME INEQUALITY

ZHANG Xue-Yong,TAO Zui

2014, 34(10):  77-88. 

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This paper studies the relationship between stock market development and income inequalityWe build a panel data consisting of 33 countries from year 1988 to 2013 in order to investigate into the impact of the stock market development on income inequalityThe empirical results indicated as follows Firstly, when a countrys stock market gets larger, its income inequality tends to get worse However, the improvement of the stock market liquidity will reduce the income inequality Secondly, the stock market development will have different effects on the different income groupsThirdly, before and after the stock market liberalization, there are significant differences in the impact of the stock market on income distributionAfter the stock market liberalization, the expansion of stock market size and the improvement of liquidity will reduce the income inequality

ACCESS TO FINANCE AND RURAL HOUSEHOLD ENTREPRENEURSHIP
——An Empirical Study Based on CHARLS Data

LU Ya-Juan-1,ZHANG Long-Yao-2,XU Yu-Yun-2

2014, 34(10):  89-99. 

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This paper selects samples of 806 farmers from China health and retirement longitudinal study data to examine the relationship between financial availability and farmers entrepreneurial choicesThe results show that Chinese rural families entrepreneurial choices behavior and the scale of assets they owned and the financial resources availability presents a positive correlationIt indicates that in Chinas rural families, the existence of financial constraints restricts the entrepreneurial activities of nonagricultural areas to some extentImproving households financial availability has a positive marginal effect to entrepreneurial probabilityIn addition, the financial availability in rural communities also has an important impact on households level of entrepreneurshipTherefore, the policy needs to focus on lowering entry barriers of rural financial market and increasing formal financial supply for villages and towns especially rural communities in the future

THE REVERSE PASSTHROUGH EFFECT OF RMB APPRECIATION:
 AN ANALYSIS BASED ON SUPPLY SHOCKS AND DEMAND SHOCKS

WANG Guo-Song

2014, 34(10):  100-110. 

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Based on the perspective of the supply shocks and demand shocks, this paper explains the transmission mechanism of the reverse passthrough effect of RMB Appreciation, and makes an empirical test on the reverse passthrough effect of RMB nominal effective exchange rate of and bilateral nominal exchange rate of RMB against the USdollar by cointegration and vector error correction modelThe results show that, whether in the long run or short run, the RMB appreciation dont have the deflation effect, but with the reverse passthrough effect, and the reverse passthrough effect of RMB nominal effective exchange rate is stronger than the bilateral nominal exchange rate of RMB against the US