发挥政府采购政策效应促进中小企业发展

经过几十年的发展,中小企业已经成为我国科技创新、增加就业的重要力量,在市场经济体制的建立和城镇化的过程中有着举足轻重的作用,为整个国民经济的持续、健康发展做出了重要贡献,是社会主义市场经济的重要组成部分。但是,由于种种主客观原因,中小企业的发展困难重重,其中以资金不足为最。与此同时,我国政府采购的规模不断扩大,估计在今年要达到3000亿,这对我国企业的发展会起到非常大的促进作用,但从总体看,中小企业参与政府采购的程度很低,政府采购本身对中小企业的关注还很不够,这将是中小企业丧失很多难得的发展机会。为此,本文将从中小企业的现状和作用入手,分析政府采购支持中小企业发展的理论依据和法律依据,并着重提出发挥政府采购促进我国中小企业发展的对策建议。     

Fiscal policy and fiscal reconstruction in Japan

This paper investigates the macroeconomic effect of fiscal policy and the fiscal reconstruction movement in Japan. I first summarize Japanese fiscal policy in the recent years and discuss sustainability of government deficits. Then, I investigate the macroeconomic effect of Japanese fiscal policy and evaluate the plausibility of the Keynesian and non-Keynesian effects. I also analyze political constraints in the fiscal reconstruction attempts and the possibility of crowding-in effect of fiscal reform. Finally, I discuss some measures for the successful fiscal reconstruction reform in the near future. JEL Code H30 · H60     

财政国库管理制度改革对政府财务行政改革的推动作用

当前我国行政管理体制改革和财政国库管理制度改革正在稳步地推进,按照十六届三中全会的精神,我国的改革已到了整体协调推进的新时期.而财政国库管理制度改革是为政府行政提供资金的一项制度保证,其本身就是政府的一项财务行政活动,因此,财政国库管理制度改革作为我国财政领域的一项重要的制度创新,必将对我国的政府财务行政改革产生深远的影响.     

Benefits of Downward Earnings Management and Political Connection: Evidence from Government Subsidy and Market Pricing

This paper examines the role of downward earnings management and political connection on the receipt of government subsidies and market pricing of subsidies. Using subsidies data hand-collected from Chinese listed firms over the period 2004–2014, the results show a significantly positive association between downward earnings management and the receipt of government subsidies. The results also reveal that a firm's political connection is conducive to securing subsidies for poor performers, but not for good performers. Market pricing analyses demonstrate that share markets value subsidies positively in general, but the effect is ameliorated in firms conducting downward earnings management. No discernible difference is found between the market pricing of subsidies received by firms with political connections and those without.     

政府补贴能否促进高新技术企业的自主创新？——来自中关村的证据

中国政府对高新技术企业投入了大量补贴以激励它们创新,但是对补贴效果的研究并未达成一致结论。基于中关村3万多个高新技术企业2001-2012年的观察值,本文同时采用PSM与DID法对政府补贴的效果进行了研究,结果发现:第一,整体而言,政府补贴显著提高了创新经费支出、新产品销售收入和专利申请数量;第二,进一步将创新细分为自主创新和购买引进新技术之后发现,政府补贴存在“挤出效应”:被补贴企业的自主创新明显下降,而购买引进新技术显著增加;第三,政府补贴对企业的短期创新激励有显著的促进作用,但是对长期创新激励的促进作用不显著。本文对高新技术企业的补贴效果提供了实证绩效评估,所得出的结论有助于政府优化和调整激励创新政策。     

Institutions,moral hazard and expected government support of banks

We model the expected support of banks with credit ratings from Moody's and Fitch, taking explicitly into account the capacity and willingness of governments to provide support in case of need, as well as their concerns about moral hazard (i.e., that the expected support may induce banks to assume bigger risks). Our results suggest that moral hazard concerns are relatively weak. In addition, a substantial part of the expected support can be attributed to the quality of a country's institutions. These findings have important implications for the dynamics of banking crises, the value of the ‘fair’ insurance premium banks might be called upon to pay for the expected support, as well as for ways to reduce the resulting negative externalities.     

‘Agents-in-focus’ and ‘Agents-in-context’: The strong structuration analysis of central government accounting practices and reforms in Nepal

Drawing on Stones’ (2005) strong structuration theory, the paper unfolds why and how the key stakeholders of central government accounting in Nepal are involved in the reproduction of routinised accounting practices, resisting the externally-propagated changes. Government accountants (the agents-in-focus) through their capability to control the budget routines have enjoyed a powerful social position in their position–practice relations with the agents-in-context, i.e. professional accountants and international consultants, higher-level officers and administrators, auditors, and politicians. Social position along with historically-imbued dispositions and their conduct and context analysis have enabled government accountants to strategically exercise their agency. Government accountants have articulated duality and a dialectic relation with the agents-in-context, which have resulted in the reproduction of everyday accounting practice and the resistance to the World Bank-led reforms, such as accrual accounting and, more recently, the Cash-Basis IPSAS.     

The role of dairy company policies in support of farm green infrastructure in the absence of government stewardship payments

Intensive dairy farming has substantial impacts on freshwater and terrestrial ecosystems. Determining how to mitigate them while increasing production is driving the quest for sustainable milk production internationally. Green infrastructure (G.I.) provides private and public ecosystem services, including mitigation of farming environmental impacts. However, there are implementation barriers among farmers. New Zealand government supports farmer self-regulation as long as farmers meet environmental targets. Farmers are neither compensated for reducing environmental impacts, nor for setting aside G.I. in support of nature conservation. Dairy companies are under increasing pressure to ensure socially acceptable milk production practices among farmer suppliers. They may play a role in encouraging farmers to implement G.I. as a way of helping farmers meet regulatory compliance, and best farming practice. Using a content analysis of company policies, the role of dairy companies in encouraging G.I. among farmers is explored. Results indicate companies are concerned about the effects, and perception, of poor environmental farming practices on their profitability, and have developed some riparian G.I. policies, with government and farmer support. However, policies are farm-focused and are limited to one year, and thus lack the capacity to encourage G.I. in support of key ecosystem services, such as water cleansing and support for indigenous biodiversity that require landscape scaled networks and longer periods. Even at the farm scale, a majority of companies lack policies that encourage significant G.I. networks. Policies suggest companies, and by extension farmers, lack sufficient motivation to protect or restore them voluntarily. Under these conditions, significant G.I. is unlikely to develop under self-regulation, unless supplemented through motivating government stewardship payments.     

Asymmetric effects of fiscal policy in EU and OECD countries

In this article, we take account of an evaluation of the short- and medium-term effects of the transmission mechanism of fiscal policy in EU and OECD countries and their dependence on the state of the economy and fiscal behaviour. Our findings indicate that (i) across EU member states the impact of government spending on economic performance is larger in the accession than in core member states, (ii) since the onset of the economic/financial crisis the government spending multipliers have become larger in both core and accession EU member states, and (iii) a comparison with fiscal responses in the OECD countries shows robustness of our estimates. The conclusion implies that the austerity measures present a substantial drag for economic activity in accession EU countries. Thus, we may state that not considering the fiscal behaviour and state of the economy gives misleading fiscal multiplier effects, which in turn lead to the adoption of inappropriate fiscal measures that even worsen a country's economic situation.     

不同融资约束情景下政府补助与企业成长——基于政府补助相关性分类视角

政府补助按照相关性分为收益性政府补助与资产性政府补助,在不同融资约束情景下,两类政府补助对企业成长影响存在差异,基于此,选取中小板上市企业2011-2017年样本数据进行实证分析。研究结果表明,收益性政府补助对企业短期成长具有促进作用,对企业的长期成长无显著影响；资产性政府补助对企业长期成长具有促进作用,对企业的短期成长无显著影响。随着融资约束程度逐渐提高,收益性政府补助与资产性政府补助对企业成长的促进作用逐渐减弱,融资约束对企业成长的抑制作用明显增强。