环境规制与经济增长关系再研究——基于半参数空间模型

论文采用2005-2017年我国30个省份的面板数据,考虑经济增长的溢出效应,利用空间杜宾模型和半参数空间杜宾模型研究环境规制与经济增长的关系。结果表明:第一,中国经济增长存在显著的正空间相关性,在普通参数模型和空间杜宾模型中环境规制对经济增长的影响不显著。第二,半参数空间杜宾模型的拟合优度高于空间杜宾模型,同时,环境规制与经济增长存在显著的非线性关系。     

中国第三产业增加值增长与环境规制

近年来,中国第三产业增加值发展速度不断下降,比起2008年左右的高速增长,现在中国第三产业正处在低速发展的阶段,研究当前中国第三产业发展情况对于我国经济发展具有重大意义。论文结合当前中国环境保护力度不断加大这一情况,从波特假说和环境经济学理论出发,探究环境规制强度对中国服务业增加值的影响。研究结果显示,在中国经济发展当前阶段,环境规制强度的加深对第三产业增加值增长呈抑制作用,同时这种影响呈正U型。     

国债发行规模与GDP和财政支出的关系

国债作为政府筹集资金、缓解财政压力和实施宏观经济调控与现代金融管理的重要工具,适当的国债政策是实现财政政策和货币政策调控目标、促进经济增长的重要手段与保证。我国国债的发行对支持经济的发展起到了重要的促进作用。要优化国债结构,实现国债结构进一步的合理化,就需逐步扩大地方政府债券发行规模,规范国债市场运行,调整国债投资规模与方向,促进我国经济长期稳定发展。     

转型期我国股票市场规制目标的选择

"为国有企业筹资、推动国民经济增长"这一政府股票市场规制的目标已经不能适应经济发展的要求,监管当局应该将"加强投资者利益保护"作为股票市场规制的核心目标,以进一步推进中国股票市场的可持续发展。保护投资者利益是股票市场政府规制目标的核心。造成我国股票市场投资者保护机制缺失的制度性基础在于政府一身兼三职的制度安排,即政府既是国有上市公司、证券交易所、证券公司的实际或者变相的终极所有者,又是投资者利益的守护神,同时也是证券市场的规制与监管者。     

Macroeconomic implications of mortgage loan requirements: an agent-based approach

It is a well-known fact that the housing market, with its associated mortgage securities, plays a crucial role in modern economies. The recent crisis of 2007, triggered by the U.S. real estate bubble, confirms this key role and suggests the importance of regulating mortgage lending. This paper investigates these issues by designing a housing market with a linked mortgage lending instrument in the Eurace agent-based model. Our results show that the presence of a housing market in the model has relevant macroeconomic implications, driven mainly by the additional amount of endogenous money injected into the economy by new mortgages. This additional money generally helps to support and stabilize aggregated demand, thus improving the main economic indicators. However, if the regulation of mortgage lending is too lax, involving an increase in the debt-service-to-income ratio (DSTI), then the additional supply of mortgages no longer enhances macroeconomic performance, and the stability of the economic system is undermined. Based on a number of recent discussions, a regulation of stock control that targets households’ net wealth (a stock), rather than income (a flow) is designed and analyzed. The results show that regulation of stock control can be combined effectively with DSTI to increase the stability of the housing market and the economy as a whole. Interestingly, the regulation based on stock control also directly affects mortgage distribution among households, avoiding excessive concentration. From a policy perspective, our results suggest that the use of a mild flow control regulation, coupled with a stricter stock control measure, fosters sustainable growth and eases first-time buyers access to the housing market, encouraging homeownership.

     

Assessing the long‐run economic impact of labour law systems: a theoretical reappraisal and analysis of new time series data

Standard economic theory sees labour law as an exogenous interference with market relations and predicts mostly negative impacts on employment and productivity. We argue for a more nuanced theoretical position: labour law is, at least in part, endogenous, with both the production and the application of labour law norms influenced by national and sectoral contexts, and by complementarities between the institutions of the labour market and those of corporate governance and financial markets. Legal origin may also operate as a force shaping the content of the law and its economic impact. Time‐series analysis using a new data set on legal change from the 1970s to the mid‐2000s shows evidence of positive correlations between regulation and growth in employment and productivity, at least for France and Germany. No relationship, either positive or negative, is found for the UK and, although the United States shows a weak negative relationship between regulation and employment growth, this is offset by productivity gains.     

制度变迁与城市规划的组织变革

为降低交易费用、促进分工、推动经济增长,社会发生从计划经济体制向市场经济体制的制度变迁.在制度变迁过程中,城市规划也需要支付必要的市场交易成本.政府要在招商引资中通过城市规划主导城市空间演化方向,在城市经营中加强成本意识、营销意识.为适应制度变迁和公共服务的要求,城市规划的管理和编制都面临组织变革.     

Political devolution and employment relations in Great Britain: the case of the Living Wage

This article examines the role of the devolved governments of Scotland and Wales in promoting the voluntary Living Wage. It shows that active promotion of the Living Wage standard has emerged in both countries from a broader commitment to an economic policy of ‘inclusive growth’. Employment law is not a devolved matter, and the article identifies a broad range of economic incentives and soft forms of regulation that have been used by the devolved governments to promote the Living Wage in the absence of hard power to legislate. Non-legislative forms of state intervention are often regarded sceptically, but the article shows that the attempts of devolved governments to spread the Living Wage have been impactful, particularly in Scotland.     

Disentangling economic crisis effects from environmental regulation effects: Implications for sustainable development

With climate change becoming more severe, policy makers must impose environmental regulations that will lead firms to adopt sustainable corporate models. According to the Porter hypothesis, environmental regulation can favour the implementation of business strategies that improve economic and environmental performances. In this study, we examine how one such form of regulation, the European Union Emission Trading Scheme (EU ETS), impacts firm performance, and we subsequently widen the examination beyond the regulation to evaluate an economic crisis which could potentially confound regulation effects. We estimate a panel model with time- and firm-fixed effects for different subsamples that disentangle the effect of the EU ETS policy from the 2008 economic crisis. The results indicate that the EU ETS policy in its third phase can activate the Porter hypothesis and is effective in fuelling the implementation of sustainable corporate models by firms. However, we also find that the economic crisis neutralises the effects of the regulation on firm performance, precluding the triggering of the Porter hypothesis in severely affected firms.     

我国民间借贷及其监管对策研究——以鄂尔多斯地区为例

鄂尔多斯地区民间借贷在近年来发展速度与规模非常快,对地区经济成长与发展起到积极推动作用的同时,其带来的一系列问题也成为人们关注的热点.游离于监管体制外的大量民间资金的存在也严重影响了国家宏观调控政策实施的效果,对地区社会经济稳定和金融安全带来巨大隐患,在分析鄂尔多斯民间借贷特点和形成原因的基础上,针对性提出了推动鄂尔多斯金融稳定健康发展的对策与措施.     

关于我国政府经济行为规制具体措施的看法

政府经济行为规制是我国经济建设中所应重点注意的方面,需要我们认真地研究。经济法对政府经济调节权力的规制集中在对政府经济行为的规范上,文中从政府经济调节权力的规制、政府经济行为的法律责任规制、政府经济行为的程序规制、政府经济行为的信息公开化规制等层面探讨我国政府经济行为的规制,为我国政府经济行为的规制提出建议。     

EKC-type transitions and environmental policy under pollutant uncertainty and cost irreversibility

Previous studies have suggested that some pollutant levels first increases due to the economic growth and then start decreasing, the pattern being called the “environmental Kuznets curve” (EKC). We examine EKC-type transitions of pollutant levels not with respect to economic growth but more generally in time. Assuming that each policy maker optimally executes the two switching options of regulation and unregulation for pollution, the switching dynamics of environmental policy can be described by an alternating renewal process. It is shown that the double Laplace transform of transition density of a pollutant level can be obtained by a novel application of renewal theory. The expected level of overall pollutants is then calculated numerically and found to exhibit either a Λ‐shaped or an N-shaped pattern in time. Our results present a simple explanation for the EKC-type transitions of pollutant levels within a real options framework.     

银行业规模结构、中小企业银行信贷与经济增长

如何缓解中小企业信贷困境始终困扰着中国的金融监管当局。本文选取中国各地区1999年-2007年工业企业的面板数据,具体考察了银行业规模结构对中小企业银行信贷的影响。结果显示,相比大型企业,中小企业获得的银行贷款更少、期限结构更短。同时,研究发现随着中小银行市场份额的上升,中小企业与大型企业之间银行信贷的差异随之缩小。这表明,在我国经济转型期间,大力发展中小银行有助于缓解中小企业的融资困境。进一步研究发现中小银行市场份额的扩大显著促进了经济增长。     

浅议我国现行个人所得税制改革

个人所得税作为调节居民收入分配的一个重要税种,在我国经济生活中起着至关重要的作用。个税调整直接关系百姓钱袋子,在通胀形势下成为关注热点。随着我国经济的增长,居民可支配收入也在逐年增多,但是作为调节贫富收入差距的"个人所得税"这一税收杠杆却滞后于我们经济的变化,这些问题不仅严重影响了税收调节经济的功能,而且对社会稳定也极为不利。本文在阐明了我国个人所得税制改革中存在的相关问题后,有针对性的提出了相关学者的政策建议。     

Corruption,regulation, and growth: an empirical study of the United States

This paper investigates whether the costs of corruption are conditional on the extent of government intervention in the economy. We use data on corruption convictions and economic growth between 1975 and 2007 across the US states to test this hypothesis. Although no state approaches the level of government intervention found in many developing countries, we still find evidence for the “weak” form of the grease-the-wheels hypothesis. While corruption is never good for growth, its harmful effects are smaller in states with more regulation.     

AIRLINE SERVICES AND METROPOLITAN AREAS IN THE ASIA-PACIFIC REGION 1970 - 1990

This paper looks at the ways in which air transport has affected economic growth in metropolitan areas in the Asia-Pacific region. Two primary influences are identified: level of service to a particular airport; and local airline industry activities. The paper examines the former by means of an historical overview of the factors influencing the development of economic 'control centers' in the Pacific Rim. The level of a service at an airport in the region has depended greatly on local economic activity, as well as on geography, aircraft technology, and intergovernmental regulation. Data on non-stop international flights in the Asia-Pacific region for 1970, 1980, and 1990 are used to document the emergence of major hubs such as Hong Kong, Los Angeles, and Tokyo. It is argued that as technology advances, services will become even more concentrated in a few places, causing further congestion and strain on infrastructure capacity.     

陌生的家乡——本刊记者回乡手记

对于在大城市谋生的许多人来说,家乡既熟悉,又陌生,记者也不例外。2011年,通货膨胀、房地产调控、城镇化加速等等,让中国经济持续多年的增长速度与模式,接受着更深层次的挑战。春节期间,本刊数位记者用自己的见闻与访问,梳理着家乡的故事,希望能记录这个时代正在发生的"家乡版"。这其中有城镇化中"被上楼的农民",有突然闯入     

An empirical analysis of the impact of banking regulations on sustainable financial inclusion in the CEMAC region

Based on a panel analysis of six countries over the period 2004–2018, this study examines the impact of financial regulation on sustainable financial inclusion (FI) in the Central African Economic and Monetary Community (CEMAC) region. Using different approaches to estimate FI, we ?nd that banking regulation has a positive impact on FI. In particular, our ?ndings suggest that regulations for monitoring entry into the financial sector, external reporting and audits, and deposit insurance contribute sustainably to an increase in FI. In addition, banking regulations help the region to attract foreign direct investment and boost economic growth. An important policy implication of this paper is that CEMAC regulators should enhance synergy with mobile telephone network providers to promote digital FI, as it offers a low-cost option for promoting FI, especially for people living in areas underserved by mainstream financial institutions.     

The Effect of Incentive regulation on Infrastructure Modernization: Local Exchange Companies' Deployment of Digital Technology

This study examines the investment patterns of all large local exchange telephone companies in the United States over time. It identifies how different regulatoy environments have influenced the recent historical pattern of investment in modern infrastructure equipment. It focuses exclusively on the postdivestiture experience of local telephone exchange companies (LECs). It examines the growth of fiber-optic deployment and of complementary equipment associated with the modernization of today's information infrastructure. The study estimates the influence of different regulatory structures on infrastructure deployment by LECs. The study is unique in that if relates individual LEC investment patterns to LEC-specific regulatory, demographic, and economic characteristics. Thus, it isolates the contribution of state regulatory policies from that of other demographic and economic factors in the determination of infrastructure deployment at the state LEC rather than at the corporate level. Its main findings are as follows: First, price regulation (and, in particular, price caps) is a more potent regulatory mechanism than the standard earnings sharing scheme. Second, when associated with an earnings sharing scheme, price regulation is less effective in triggering infrastructure deployment than when it is implemented by itself. These results raise questions about the effectiveness of a popular regulatory instrument-earnings sharing schemes-and highlight the effectiveness of generic price-cap regulation. These results have implications for the design of regulatory policy at both the state and federal levels. In particular, given the importance currently being placed on the development of the information superhighway, regulatory emphasis should be focused more on price regulation than on regulating profits.     

房价变动规律性及调控对策研究

房价的变动既是经济问题,更是政治和社会问题的体现.我国房地产业已经成为拉动国民经济发展的重要支柱产业.金融危机爆发后,房价的大幅波动引起了世界各主要国家的高度关注.本丈结合我国房地产业发展的实际,对房价的变动情况、变动规律性及调控对策问题进行了初步探讨.本文提出影响房价变动的十大要素,对各要素与房价这一变量变动的相关性进行了分析研究,以实现前瞻性的指导房地产业健康发展的目的.