Table of Content

16 November 2023, Volume 43 Issue 11

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THE PRO-POOR GROWTH EFFECTS OF THE TARGETED POVERTY ALLEVIATION POLICY

FAN Conglai1, ZHAO Jinchun2

2023, 43(11):  4-16. 

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By establishing a theoretical analysis framework of targeted poverty alleviation policy promoting propoor growth，this paper uses the panel data of Suqians Sunshine Poverty Alleviation Supervision System from 2016 to 2019 and examines the heterogeneous impact of targeted poverty alleviation policy on the village level propoor growth and income of poor households The study finds that under the intervention of targeted poverty alleviation policy，the administrative village has achieved “strong propoor growth”，and its mechanism lies in changing the livelihood model，strengthening the “Three Guarantees”，and improving income stability，among which improving income stability has the strongest intermediary effect The inadequate breadth and accuracy of the implementation of the assistance measures is an important reason for the insufficient poverty reduction effect of the poverty alleviation projects The aid and subsidy income could significantly improve the level of education and medical security，while the propoorness of housing security is limited Access to targeted poverty alleviation policy can promote faster income increase of lower income farmers，and also shows strong propoorness in different counties At present，consolidating and expanding the achievements of poverty alleviation，and strengthening the endogenous development momentum of villages and farmers are still the difficulties It is necessary to strengthen the industrial assistance for economically weak villages，improve the accuracy of assistance，explore the establishment of a comprehensive social security system，and improve the propoorness of targeted poverty alleviation policy as well as moderately raise poverty standards and strengthen classified implementations of intervention policies


THEORY，PRACTICE AND STRATEGY SELECTION OF CARBON TAX COLLECTION AND MANAGEMENT

BAI Yanfeng1, YUE Tong2, TONG Jian1

2023, 43(11):  17-29. 

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The implementation of carbon tax is the requirement for China to achieve the target of carbon peak and carbon neutrality，and is also important for China to participate in international trade negotiations and obtain international discourse power This paper firstly clarifies the functional positioning of carbon tax in Chinese carbon peak and carbon neutrality goals，and further clarify the importance of levying carbon tax from the comparative analysis with emissions trading scheme Then，this paper summarizes the basic theory of carbon tax setting The theory of tax rate has formed marginal pricing theory and dynamic pricing theory，and the theory of tax setting has formed the principle that polluter pays price Furthermore，this paper discusses the double dividend effect of the implementation of carbon tax，and clarifies that the realization of the double dividend requires not only the changes in the green tax system，but also the formation of green fiscal policy system This paper finally proposes the strategic choice of collecting carbon tax Based on the practice and experience of carbon tax collection and management in various countries，this paper proposes to use the carbon tax as a policy instrument to build Chinese carbon pricing mechanism，carbon emission reduction mechanism and green fiscal system


ON THE ECONOMIC AND CARBON REDUCTION EFFECTS OF CHINAS GREEN TAX SYSTEM REFORM

2023, 43(11):  30-41. 

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Based on the social accounting matrix compiled from the inputoutput table in 2018，this paper establishes a Dynamic Computable General Equilibrium （DCGE） model to simulate the policy trend of increasing the tax burden of environmental protection tax and resource tax and reducing the tax burden of vehicle purchase tax The results of this paper are summarized as follows （1） The optimal policy within the set simulation range is that environmental protection tax burden increases within 25%，resource tax burden increases by 50%~75%，and vehicle purchase tax burden level decreases by more than 50% （2） When the combined policy of environmental protection tax and resource tax is implemented，the increase in the tax burden of environmental protection tax would lead to the deterioration of the overall performance of the policy，while the increase in resource tax will have the opposite result （3） Both static and dynamic simulation results show that environmental protection tax and resource tax have a positive effect on the carbon emission reduction of heavyemitting industries such as electricity （4） Through the preferential policy of vehicle purchase tax and the reduction of the burden of local charges on the secondary industry，the dilemma of economic growth and carbon emissions might be overcome


THE IMPACTS OF NEW INFRASTRUCTURE INVESTMENT ON ECONOMIC EFFECTS，ENERGY CONSUMPTION AND CARBON EMISSIONS

ZHANG Yuning, WANG Yanhua, WANG Ke

2023, 43(11):  42-55. 

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Based on Chinas noncompetitive inputoutput table and the Fourth National Economic Census data，this paper combined the structural Miyazawa multiplier and the dynamic inputoutput model with the endogenous “capitalincomeconsumption” relation of residents to evaluate and compare the economic effects，energy consumption, and carbon emissions of the new infrastructure investment plan and traditional infrastructure scenarios during the 14th Fiveyear Plan period The entropy weightTOPSIS method is employed to identify the main factors influencing the comprehensive efficiency of investment in seven categories of new infrastructure The results show that the economic effects of new infrastructure investment are relatively smaller than those of traditional infrastructure However，the energy consumption and carbon emission intensity of new infrastructure can be reduced to 048 tons of coal equivalent per ten thousand yuan and 097 tons of CO2 per ten thousand yuan respectively by 2025，achieving a 2563% reduction in CO2 emissions In terms of unit investment efficiency，the GDP multiplier of new infrastructure is slightly lower than that of traditional infrastructure （114 versus 133） However，the share of output driven by endogenous consumption is higher in the new infrastructure scenario，indicating that new infrastructure could further promote the transformation of growth drivers in China Benefiting from favorable energy consumption and carbon emission performance，the comprehensive efficiency levels of industrial Internet and artificial intelligence have reached 065 and 060 respectively，higher than the other five categories of new infrastructures，such as 5G and ultrahigh voltage Therefore，by identifying the buckets factors of seven categories of new infrastructure in terms of economy，energy，and carbon emissions，this paper can provide policy recommendations for the arrangement direction and optimization decision of new infrastructure investment


FIRM DIGITAL TRANSFORMATION AND INNOVATION：FROM THE PERSPECTIVE OF NETWORK SPILLOVER

HUANG Xianhai, WANG Fang, YANG Gaoju

2023, 43(11):  56-69. 

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This paper uses the data of Chinese listed companies from 2006 to 2019 to measure the level of firms digital transformation using natural language analysis method，and constructs an econometric model to empirically analyze the impact of firms digital transformation on innovation The results show that：（1） Digital transformation has significantly improved the quantity，quality and efficiency of firm patents （2） The degree of digital transformation has a “ushaped curve” effect on firm innovation，indicating that there is a positive “threshold value” of the degree of digitalization （3） Digital transformation promotes firm innovation through innovation network spillover effect and trade network spillover effect，and there is correlation spillover effect of upstream and downstream firms （4） The innovation effect of digital transformation is greater in industries with lower competition degree and higher average digital transformation degree and digital intensity degree


INDUSTRIAL POLICY AND THE FORMATION OF ZOMBIE FIRMS

XU Yekun1, CHEN Shishuo2

2023, 43(11):  70-84. 

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Disposing zombie firms properly is the “bulls nose” of deepening supplyside structural reform Taking the sample of industrial enterprises from 2001 to 2007，this paper empirically investigates the impacts of central and local industrial policies on the formation of zombie firms in China The results suggest that central industrial policy significantly reduces the formation of zombie firms，while local industrial policy aggravates the formation of zombie firms，especially for nonstateowned firms Mechanism tests indicate that central and local industrial policies influence the formation of zombie firms through resource allocation and innovation ability Moreover，market segmentation，market competition and the policy of cutting overcapacity influence the effects of industrial policy on the formation of zombie firms The conclusions provide theoretical explanation and empirical evidence for the causes of zombie firms in China from the perspective of industrial policy，and some references for centrallocal relation coordination，elimination of zombie firms and firms highquality development


DUAL CIRCULATIONS AND DECOMPOSITION OF ECONOMIC VALUE ADDED：A PERSPECTIVE OF VALUE CHAIN

LI Genqiang1, PAN Wenqing2

2023, 43(11):  85-98. 

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This paper constructs the valueadded decomposition model of dual circulation and the economic value added （GDP） accounting model in the dual circulations framework from the perspective of value chain，and uses the OECDAMNE database to analyze the valueadded composition of Chinas dual circulations，the characteristics of domestic and international interaction and its contributions to Chinas GDP The results show that：Firstly，the scale of Chinas domestic circulation is higher than that of the international circulation；and in terms of ownership type，domesticowned firms are the largest market players in the dual circulations，but the international circulation is better than the domestic circulation in terms of the ability to create value added Secondly，the foreign value added contained in Chinas domestic circulation mainly comes from East Asia and other regions，while the domestic value added created by China mainly flows to North America and other regions through the international circulation，which shows the regional asymmetry in the source and destination of value added in Chinas domestic and international circulations Thirdly，the domestic circulation contributes to more than 70% of Chinas GDP，and the GDP contributed by domesticowned firms is significantly higher than that by foreignowned firms Finally，the proportions of domestic value added in the domestic and international circulations，the GDP contributed by the domestic circulation and contribution to the GDP of the world by the international circulations of China are slightly lower than those of the United States，but they show an excitingly growing trend from 2005 to 2016 in China China should further tap into the potential of domestic demand and open up wider to the world，and leverage the comparative advantages of domesticowned and foreignowned firms to accelerate the building of the new development paradigm and to contribute to the steady and longterm growth of the Chinas economy


THE PEER EFFECTS ON PARTICIPATION IN NEW RURAL PENSION SCHEME

FAN Xiaohai, YUE Ximing

2023, 43(11):  99-112. 

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Based on the data of CHIP2013 and CHIP2018，the paper uses the instrumental variable method to study the role of the peer effect in rural residents participation in the social insurance of urban and rural residents It is found that：Firstly，for every 1% increase in the participation rate of peers，the individual participation probability of residents increases by 0129%~0174% Secondly，for every 1% increase in the payment of peers，the individual payment of residents increases by 0654%~0660%. Thirdly，the average payment level of peers is increased by 1 level，and the probability of the actual payment level of individuals is increased by 384%~444% Fourthly，under certain conditions，the peer effects is larger in large clusters than that in small clustersFinally，the participation behavior of female，highlyeducated and young residents has a greater demonstration effect These results imply social norms and social learning are the main mechanisms of the peer effect