Public spending,public governance and economic growth at the Vietnamese provincial level: A disaggregate analysis

This study examines the role of economic governance in the relationship between public spending, private investment, and economic growth in Vietnam at the provincial level. The study data consist of sixty-two Vietnamese provinces for the period 2006–2015. Some notable results are attained by applying a sequential (two-stage) estimation. First, the marginal benefits to economic growth of increased Vietnamese provincial government expenditures may be constrained because of the inefficiency of expenditures on education, business services, and public administration. Second, public spending and private investment are found to be substitutes at the provincial level. Third, based on the Provincial Competitiveness Index (PCI) ranking, used as a proxy for provincial public governance in Vietnam, the significance of public governance can be observed. The study concludes that good governance, characterized by different attributes, such as lower informal charges, greater transparency, and unbiased policy, plays a critical role in improving the impact of government expenditure on economic growth in Vietnamese provinces, particularly through its interactions with private sector investment.     

Political Instability, Uncertainty and Economics

This paper focuses on the relationship between political instability, policy–making and macroeconomic outcomes. The theoretical section explores various models that explain the effect of instability (and political uncertainty) on growth, budget formation, inflation and monetary policy. The empirical section discusses the evidence on the predictions generated by theoretical models. Preliminary to this discussion, however, is the analysis of a few general issues concerning the specification and estimation of econometric models with political variables. Some new results are then produced on the empirical relevance of theories of strategic use of fiscal deficit.     

经济增长、环境因素与我国经济发展方式转变

随着人们对经济发展内涵的认识不断深入,经济增长与环境之间的关系越来越受到关注和重视。研究发现,经济增长与环境之间存在着＂倒U＂型关系,即经济增长导致环境恶化,且在经济增长到一定水平时出现拐点,环境得到改善。认识并运用这一发现对当前我国调整产业政策,发展节能环保产业,加快经济增长方式转变,实现经济增长与环境改善共赢,具有重要意义。     

论经济发展战略转型与经济发展方式转变

我国"十二五"时期经济社会发展的主线是加快经济发展方式转变,而要加快经济发展方式转变,首要的实现经济发展战略转型。本文首先分析了经济发展战略转型的必然性和基本内容,以及转变经济发展方式的重要性、长期性和主要内容;其次,分析了经济发展战略转型中要处理好的几个关系;最后,提出实现经济发展战略转型和经济发展方式转变,必须以推进技术进步和技术创新为支撑,以深化改革和扩大开放为动力。     

首尔的扩张与韩国的城市发展政策

分析了20世纪60年代以来韩国首尔和首尔都市区快速增长的驱动力,回顾了韩国政府的城市增长管理政策,并通过比较数据评析其政策成效.研究韩国的城市增长经验教训,可以为其他快速增长的国家和城市提供有益的启示.     

Volatility, growth, and welfare

This paper constructs an endogenous growth model driven by self-fulfilling expectation shocks to explain the stylized fact that the average growth rate of GDP is related negatively to volatility and positively to capacity utilization. The implied welfare gain from further stabilizing the U.S. economy is about a quarter of annual consumption, which is consistent in order of magnitude with estimates based on the empirical studies of Ramey and Ramey (1995) and Alvarez and Jermann (2004). Hence, policies designed to reduce fluctuations can generate large welfare gains because smaller fluctuations are associated with permanently higher rates of growth.     

Corruption, economic growth, and income inequality in Africa

This paper uses panel data from African countries and a dynamic panel estimator to investigate the effects of corruption on economic growth and income distribution. I find that corruption decreases economic growth directly and indirectly through decreased investment in physical capital. A unit increase in corruption reduces the growth rates of GDP and per capita income by between 0.75 and 0.9 percentage points and between 0.39 and 0.41 percentage points per year respectively. The results also indicate that increased corruption is positively correlated with income inequality. The combined effects of decreased income growth and increased inequality suggests that corruption hurts the poor more than the rich in African countries. Received: March 19, 2001 / Accepted: December 14, 2001 RID="*" ID="*" An earlier version of this paper was presented at the first AmFiTan International Conference on Development Ethics in February 2000, Dar er Salaam, Tanzania. I thank two anonymous referees of this Journal for helpful suggestions. I am, however, solely responsible for any remaining errors.     

Market‐oriented institutions and policies and economic growth: A critical survey

Abstract.  This paper surveys recent evidence suggesting that market‐oriented institutions and policies are strongly related to economic growth, focusing on studies using the economic freedom (EF) indicator of the Fraser Institute. This index is critically discussed. Also various serious shortcomings of empirical studies using this index are identified. Nevertheless, there are strong indications that liberalization, i.e. an increase in the EF index, stimulates economic growth. This paper also reviews studies on the determinants of EF. Political liberalization is often found to enhance economic liberalization, whereas there is less evidence for causality running in the other direction.     

Changing Trends in Regional Economic Development Policy Governance: The Case of Northern Ontario,Canada

This article analyses the changing trends in regional economic development policy delivery in multilevel governance systems. Although the imperatives of coordination of public policy interventions across multiple levels has generally been recognized, not enough attention has been given to how different political systems actually adapt their institutional and policy designs to effectively operate in the emergent complexity of multilevel governance systems. The article focuses on regional economic development policy governance in the province of Ontario, Canada over the past three decades, drawing insights from new regionalism, organization theory and governance literature to examine the prospects and challenges of policy delivery in politically complex multilevel systems. The case study illustrates how regional economic development policy is increasingly dictated by complex environmental and institutional forces of multilevel governance that are shaped by the particular character of a political system.     

中国城市化与经济增长的省际差异分析

采用聚类分析方法、相关分析方法和回归分析方法,对我国省际城市化水平与经济增长水平的差异进行定量分析,得出以下结论:总体来看,经济发展水平与城市化水平有着较密切的正相关关系;个别地区(如广东)的经济发展水平并不完全与城市化发展水平相适应,经济的发展是由其他因素促成的;天津的城市化水平已经接近极限,而北京和上海的城市化水平仍然有进一步发展的空间;对于落后地区来说,发展经济的重要性更重于狂热地进行城市化.     

城市区域增长的网络化治理

肇始于20世纪末的信息技术发展及全球经贸联系的日益紧密,生产的分散化与管理的集中化导致国家间的竞争逐步演变为骨干城市及其所依托的城镇群体之间的竞争。立足于当代中国城市发展实践,衔接国际城市与区域研究的理论前沿,着眼于当前我国城市区域体制转型和制度变迁过程中凸显的深层次的体制障碍和运作瓶颈,采用城市政治经济学的研究方法,从背景、方法、视角、内容等多个层面,系统归纳和评述了中外城市区域增长的网络化治理机制,并从城市区域治理的增长网络、增长政体、增长制度和增长管理等角度提出了相关拓展研究的展望。     

MNC's competitive strategies,experiences, and staffing policies for foreign affiliates

This study investigates the relationship between the strategic role of a multinational corporation's (MNC) foreign affiliates and its international staffing policy. Specifically, this study examines how an MNC's decision on expatriation is affected by strategic roles assigned to foreign affiliates: global integration of activities versus local market seeking. An empirical study is conducted using a sample of 808 foreign affiliates of Japanese firms. The research findings suggest that strategic roles of foreign affiliates alone may not adequately explain the international staffing policies of Japanese MNCs. Rather, we found a significant moderating effect of international as well as host country experience on staffing practices for foreign affiliates. While the staffing policies of MNCs striving for improving global efficiency of their operation are moderated by both international and host country experience, those seeking a specific local market position are influenced only by host country experience.     

"知识与城市经济增长"文献综述

知识的集聚与溢出在城市经济增长中发挥着重要的作用,经济增长理论各个学派对于知识要素的作用均有不同程度的论证.在将知识的内涵与分类进行归纳整理的基础上,对现有文献进行了梳理,明确了知识与城市经济增长的关系,为城市经济的持续发展提供了理论基石.     

土地政策和城市住房发展

本文首先分析了北京的住房市场 ,然后对住房价格的构成及其变化进行了分析 ,结合微观经济学理论 ,总结出北京市房价高的原因 ,即 ,(1)房地产开发过程中没有不变成本 ,因而没有规模经济 ;(2 )根据基准地价系统 ,容积率决定地价 ,这一方面与西方城市经济学理论相悖 ,另一方面使房地产商没有经济利益驱动 ,资源没有得到合理强度地利用。最后 ,本文提出了进一步改革的建议和对策。     

土地价值与城市增长

文章介绍了城市经济动态模型。通过利用在经济学中广泛的效用函数及对效用函数的优化 ,得出城市土地地租有三部份构成 :农业土地地租 ;土地发展成本的租金 ;和区位或可达性所带来的级差地租 ,并进一步推出城市土地价值有四部分构成 :(1)农业土地价值 ;(2 )土地发展成本 ;(3)可达性的经济价值 ;(4)可预见的未来土地地租增值所带来的价值。相对应 ,城市边缘非城市土地价值有两部分组成 :一是与农业土地地租有关的土地价值 ,另一个是可预见的土地转变成城市用地后未来土地地租增值所带来的价值。城市经济动态理论及其结论丰富和发展了土地地租和土地价值理论 ,加深了对土地价值形成和发展的理解 ,有利于相关法规和政策的制定 ,以此提高城市土地利用效益和推动城市发展。最后 ,结合中国国情 ,文章分析了城市政策及土地政策对城市化的社会经济影响。     

Innovation dynamics and fiscal policy: Implications for growth,asset prices,and welfare

We study the equilibrium implications of different fiscal policies on macroeconomic quantities and welfare by utilizing an endogenous growth model that matches asset pricing data well. The fiscal instruments of interest are (i) subsidies to R&D expenditure, consumption and capital investment, and (ii) cuts in labor and corporate tax rates. Our equilibrium analysis provides new insights on the interplay of innovation dynamics and fiscal policy. Importantly, we find growth and welfare to be inversely related when changing R&D subsidies. However, this depends on how well the model reproduces asset pricing dynamics. Moreover, only subsidies to capital investments and cuts in the corporate tax rate have the potential to increase both growth and welfare.     

通货膨胀背景下的中国经济增长

当前我国物价水平仍然较高,与改革开放以来的前几次通货膨胀有所类似.本次通货膨胀的原因也可归结为中国传统增长模式中常出现的“两难困境”,即长期以来,中国经济增长过度依赖于政府投资,银行信贷与货币的发放难以受到控制,经济高增长的同时始终存在着高通货膨胀的风险,而高通货膨胀所带来的企业生产成本的上升反过来又挤压企业经营利润,从而降低经济增长率.可以预计的是,在货币政策作用空间有限的背景下,此次通货膨胀的压力将持续一段时间.能否处理好总量和结构、抑制通货膨胀和促进经济增长的关系,关键取决于货币政策与财政政策的有机配合.     

Great recession,slow recovery and muted fiscal policies in the US

This paper reconsiders the role of macroeconomic shocks and policies in determining the Great Recession and the subsequent recovery in the US. The Great Recession was mainly caused by a large demand shock and by the ZLB on the interest rate policy. In contrast with previous findings, the subsequent jobless recovery is explained by the ZLB effect. We estimate a fraction of Non-Ricardian households which is close to 50%, and obtain comparatively large fiscal multipliers. However we cannot detect a significant contribution of fiscal policies in stabilizing the US economy. For instance, the 2007–2009 large increase in expenditure-to-GDP ratios was apparently determined by the adverse non-policy shocks that caused the recession.     

Fiscal and monetary policies in complex evolving economies

What is the most appropriate combination of fiscal and monetary policies in economies subject to banking crises and deep recessions? We study this issue using an agent-based model that is able to reproduce a wide array of macro- and micro-empirical regularities. Simulation results suggest that policy mixes associating unconstrained, counter-cyclical fiscal policy and monetary policy targeting employment is required to stabilise the economy. We also show that “discipline-guided” fiscal rules can be self-defeating, as they depress the economy without improving public finances. Finally, we find that the effects of monetary and fiscal policies become sharper as the level of income inequality increases.