金融发展和经济增长：文献述评

20世纪90年代以来，有关金融发展和经济增长问题的研究成为经济学领域一个热点，相关文献汗牛充栋。本文就金融发展和经济增长的理论研究和实证研究进行系统地分析和综述。     

On an optimal consumption problem for p-integrable consumption plans

A generalization is presented of the existence results for an optimal consumption problem of Aumann and Perles [4] and Cox and Huang [10]. In addition, we present a very general optimality principle. Received: July 14, 1999; revised version: September 9, 1999     

Environmental tax policy in a model of growth cycles

Summary. The purpose of this paper is to consider environmental taxation which would control emissions of firms in a model of growth cycles. In the model presented below, the economy may experience two phases of growth and environmental quality: “the no-innovation growth regime” and “the innovation-led growth regime”. Aggregate capital and environmental quality remain constant in the no-innovation growth regime, while they perpetually increase in the innovation-led growth regime. The paper shows that the tax plays a key role in determining whether the economy stably converges to one of the two regimes or fluctuates permanently between them. It also shows that there is a critical level of the tax and that the economy obtains higher growth rates of capital and environmental quality by raising (or reducing) the tax if the initial tax is below (or above) the critical level. Received: April 2, 2001; revised version: March 21, 2002 RID="*" ID="*" This research reported here was conducted within the research project “Project on Intergenerational Equity” at Institute of Economic Research, Hitotsubashi University. I am deeply grateful to an anonymous referee for his or her insightful comments, which greatly improved the paper. I also thank Hiroshi Honda, Yasuo Maeda, Yuji Nakayama, and participants in workshops at Hitotsubashi University, Kyoto University, Nagoya University, Osaka University, University of Tsukuba, Yokohama National University, and University of Tokyo for their valuable comments and suggestions. Any remaining errors are mine.     

论武汉城市圈包容性增长的实现——基于经济法纵横二维角度的分析

在武汉城市圈整体增长势头良好的同时,圈内城市差距日益扩大的现象不容忽视。武汉城市圈的包容性增长已成为武汉城市圈的核心命题,其包容性增长需要尽可能消除市场机制和政府行为的缺陷。通过法律从纵横两个维度对政府行为和市场主体行为加以规制,协调区域经济发展,让圈内城市和人民都能平等共享城市圈发展的成果。     

Modeling the relationship between networking and firm performance

Network theory suggests that successful business ownership might depend on the ability of owners to gain access to resources not under their control in a cost effective way through networking. To date, however, there has been little empirical support for this proposition, particularly for established firms. The results of this study, based on a large longitudinal database, indicate a significant positive relationship between networking (particularly with formal networks such as external accountants) and both firm survival and, to a lesser extent, growth, but not ROE. Further, network intensity is found to be associated with survival, and network range with growth.     

Sector- and economy-wide effects of terminating the use of anti-microbial growth promoters in Denmark

In Denmark the poultry industry and the National Committee for Pig Production, together with the feedstuff industry, decided to voluntarily abolish the use of all Anti-microbial Growth Promoters (AGP). The poultry industry abolished the use of AGP from 15 February 1998 and the pig industry followed on 1 March 1998 (for pigs over 35 kg) and 1 January 2000 (for pigs under 35 kg). To evaluate the effects of the removal of AGP, data from both the poultry and pig industries were collected prior to and after the removal of AGP from animal feed. Utilizing these production data, this paper calculates economy-wide effects of the removal of AGP using the Agricultural Applied General Equilibrium (AAGE) model of the Danish economy. The results show that the long-term effects are a moderate decline in the production and export of pig meat, and a positive indirect effect on other industries including poultry due to lower rental rates for primary factor inputs. The overall implication is a small decline in real GDP of 0.03%, reducing public and private consumption by 68 DKK per capita per year in Denmark.     

Information technology and the Japanese economy

In this paper we compare sources of economic growth in Japan and the United States from 1975 through 2003, focusing on the role of information technology (IT). We have adjusted Japanese data to conform to US definitions in order to provide a rigorous comparison between the two economies. The adjusted data show that the share of the Japanese gross domestic product devoted to investment in computers, telecommunications equipment, and software rose sharply after 1995. The contribution of total factor productivity growth from the IT sector in Japan also increased, while the contributions of labor input and productivity growth from the non-IT sector lagged far behind the United States. Our projection of potential economic growth in Japan from for the next decade is substantially below that in the United States, mainly due to slower growth of labor input. Our projections of labor productivity growth in the two economies are much more similar. J. Japanese Int. Economies 19 (4) (2005) 460–481.     

换工作对收入水平和收入增长的影响

本文利用中国社会科学院2002年的CHIPS数据,分析了换工作对于劳动者收入水平和收入增长的影响。本文通过控制初始的收入水平来解决异质性的影响。结果表明,对于初始收入水平较低的样本,换工作对其收入有正的影响,而对于初始收入较高的样本,换工作则有负的影响。如果直接考察换工作对于收入增长的影响,给定初始收入和其他特征,换工作对于收入增长的平均影响是正的。不仅如此,换工作对于低收入者的收入增长有较大的正的影响。     

ETHNIC DIVERSITY,PROPERTY RIGHTS,AND NATURAL RESOURCES

Countries rich in natural resources constitute both development failures and successes depending on their underlying socioeconomic fundamentals. Recent empirical evidence and theoretical work provide support for a resource-curse hypothesis based on ethnic fractionalization. There is also increasing empirical evidence suggesting that ethnic heterogeneity based on polarization is a strong deterrent of economic growth. In this paper, we explore the interlinkages between natural resource abundance and both measures of ethnic heterogeneity. In a two–simultaneous equation system, we assess the effects of fractionalization and polarization on property-rights protection, and thereby on growth, both directly as well as in interaction with our resource-abundance proxy. We find that ethnic polarization is more likely to have a direct negative impact on the effectiveness of property rights in a resource-rich context, which as we explain may suggest that different ethnic groups treat the contestable resource base as a semi-public good.     

Catching up and falling behind,a vintage model approach

The literature on catching up suggests that due to diffusion and imitation, relatively backward countries should grow at a faster rate. A model along lines suggested by Abramovitz is constructed to examine this. A country's change in productivity (technological gap) is supposed to depend on the productivity gap itself (relatively backwardness), social capability of adopting new technology, and R&D-activity. Together with a vintage growth model, this set-up gives a lot of different possible explanations of why growth rates differ among nations. The possibilities of both catching up and falling behind are considered.