Positive Research on China＇s Economic Growth Quality——Analyze the Fluctuating Situation of the Factor Input and Aggregative Productivity

To analyze China‘s fluctuating situation of the factor input and aggregative productivity is not only the main method to seek the source of the economic growth but also the main way to weigh the level of economic growth quality. As to economic growth of a country, the improvement of the productivity is extremely important. The growth of the output can be realized through two kinds of ways: increasing the quantity of factor input of orimproving the effciency of the input and output. Therefore, the level of economic growth quafity does not mainly depend on the amount of invesTed factor, but the importance of improving the produtivity since Pesources are rare.The relative improvement of efficiency in use of the invested factor marks the economic growing quality. So, in order to understand the economic growth quafity of China to some extent, it must analyze Chinese factor input and aggregative productivity. This is the main topic that this text wilt be probed into.     

Research on FDI and China＇s Economic Growth

In this paper, the relationship between FDI and China＇s economic growth is analyzed by Granger causality test and multiple regression model. It is found that relationship is bi-directional causal. It is suggested that the utilization of FDI should be focused on not only the quantity, but also the quality of FDI with its rapid development.     

Productivity,Economic Growth and the Middle Income Trap： Implications for China

This paper explores the middle income trap （MIT） concept from the perspective of productivity growth. Through the examination of cross-country historical statistics as well as China＇s regional data, it sheds light on the debate about whether the Chinese economy can avoid the middle income trap. It should be one of the first papers proposing an analytical framework to address this controversial issue. The findings should have important implications for economic policies guiding China＇s development in the coming decades.     

FPI, FPI and China＇ s Economic Growth --Empirical Research based SVAR

利用SVAR模型,研究了外国直接投资和外国证券投资对中国经济增长的影响。结果显示FPI、FDI与中国经济增长呈现正相关关系,FDI的作用显著,FPI的作用不显著。同时,FDI和FPI之间存在一定的交替关系,FDI拉低了FPI,而FPI则在短期内对FDI有促进作用。     

A Research on Approach to the Development Strategy of Tourism Economic Growth

As the tourism is improving, the economy growth can be obtained. Therefore, to improve tourism is to improve the economy. In fact, some supplies of tour could not meet the demands, which brings out conflict. It is obvious that solving the problem of supply and demand of tour is the approach to the development strategy of tourism economic growth.     

Short-Run and Long-Run Effects of Copper Mining on Peru’s Recent Economic Growth

Peru is the second-largest producer and exporter of copper in the world. This paper proposes a novel approach to assess short-run and long-run effects of copper on Peru’s recent economic growth. Annual data over the 2014–2018 period were used to calculate a Mining Contribution Index (MCI). An institutional quality indicator of the World Competitiveness Index of the World Economic Forum measured the dependence of Peruvian economic growth on mining and the quality of its institutions, respectively. Then, monthly data during the period 2005–2018 were used to run vector autoregressive (VAR) and vector error correction (VEC) models to measure copper’s effects on the country’s economy over time. VAR-VEC models included copper production, exports, international price, investment, taxes paid by producing companies, and Peru’s gross domestic product (GDP). Stationarity and causality of variables were verified with the Augmented Dickey-Fuller and Granger tests, respectively. Due to the presence of non-stationary variables, a VEC model was implemented to forecast short- and long-run effects. The main results show that real GDP responds to copper output and other related explanatory variables differently, depending upon the instrument applied. Peruvian GDP has increased dependence on copper mining. The quality of its institutions could explain the presence of Dutch Disease or resource curse theory. Short- and long-run effects of copper output on GDP were generally statistically non-significant. GDP was statistically significant in relation to other mining variables, such as copper exports and the international price of copper.

     

The Time-varying Impact of China’s Economic Rebalancing on Korea’s Exports to China

While China seeks to shift from exports and investment to a consumption-oriented economy and to increase the self-sufficiency rate of exports, this study uses time-varying parameter vector autoregression (TVP-VAR) to examine the impact of economic structural changes in China on Korea’s exports to China over time. The study results suggest that the impact of China’s export shocks on Korea’s exports has weakened, which demonstrates the slowdown in regional production fragmentation, considering that Korea’s export goods are mainly intermediate goods. Instead, the influence of China’s domestic demand shock on Korea’s exports has expanded, which implies that China has increasingly become the final destination of intermediate goods made in Korea.     

The Mechanism of the Middle Income Trap and the Potential Factors Influencing China＇s Economic Growth

Data from WDI show that developing countries are easily caught in the ＂middle income trap.＂ To interpret the mechanism of the ＂middle income trap,＂ this paper focuses on： （1） Based on the empirical framework of economic growth, we perform an empirical research on the determinants of economic growth at different income levels and discover that fixed capital investment, FDI and human capital accumulation are the main factors influencing less developed economies while for the upper middle income level and high-income level countries, the engines of economic growth change to institutions and R＆D. （2） We discuss the possible reasons why developing countries can have rapid economic growth before reaching the middleineome level, but cannot transform growth mechanisms in the middle income level. （3） We classify the factors that have influenced China＇s economic growth since the reform and analyze the potential ones for China＇s future development.     

Economic Growth,Happiness and Socialism: Durkheim’s Critique of Economic Reason and Beyond

The paper argues that Durkheim’s positions on happiness and socialism are relevant in today’s neoliberal and post-affluent societies. Durkheim dissociates happiness from economic progress and makes it contingent upon the relationships between the individual and society. An important component of Durkheimian happiness is the dynamic equilibrium between desires and means. Therefore, his friendly criticism of the socialist project is that it promises to fulfil the desires that were released by a disembedded market economy. Durkheim’s point helps us to understand why the social democratic promise was broken and how the neoliberal imperatives of competition and unlimited wants sow unhappiness.     

The Analysis on the Relationship between Processing Trade and Economic Growth in China

With gradually deepening of international division and frequently developing of transnational corporations, processing trade has been a major trend in international trade. This paper mainly Seeks for the practical and theoretical, supports ,to processing, trade. Meanwhile, it ,shows the developing conditions of processing trade in the world and in China, and analyzes the relationship between processing trade and economic growth in China by linear regression analysis in order to find,the problems and give some suggestions.     

India’s Economic and Strategic Perceptions of China’s Maritime Silk Road Initiative

The Maritime Silk Road Initiative (MSRI) is a part of China’s experiment in scaling up economic corridors across vast swathes of diverse economic geographies. China’s involvement in a large number of ongoing transport corridor projects has encouraged it to embark on the most ambitious of them all till date. The heterogeneity among the economic capacities and integrations of various regions constituting the MSRI, particularly in efficiency of infrastructure and ability to trade, is noticeable. This article underscores these variations as important determinants of competitiveness of the constituent regions and countries. India’s perceptions of the MSRI are significantly shaped by its lack of quality maritime infrastructure capacities that make it relatively uncompetitive vis-à-vis China, Europe and most of Southeast Asia; and the impression of the MSRI’s “China-centrality” emanating from lack of mention of non-China regional forums in the Chinese government’s vision statement; and absence of proactive measures from the Chinese leadership in establishing the MSRI’s multi-country character. The article argues that it is important for India to appreciate the geopolitical character of this unprecedented infrastructure initiative, which, while emphasizing Chinese interests, might not be inimical to India’s economic ambitions, provided India is able to address its domestic infrastructure imperatives.     

Productivity and Employment in the Information Economy: What Kaldor’s and Verdoorn’s Growth Laws Can Teach the US

During the last decade of the 20th century the US economy experienced the longest economic boom since World War II. Information and communication technologies (ICT) are seen as one of the main reasons for this development and it is still an open question how ICT will affect growth and employment in the future. To evaluate this process Kaldors growth laws, especially Verdoorns law are reconsidered. It will be discussed which changes in the Verdoorn-Coefficient (VC) and the employment threshold (ET) can be expected due to ICT. Induced technical progress and increasing returns to scale could make future economic growth to be less labor-intensive. A simple OLS estimation using data for the US non-farm sector indicates that the VC increased in the second half of the 1990s. Thus, more output growth is required to keep employment constant.The author gratefully acknowledges the most valuable comments from two anonymous referees and the participants of the Annual Meeting of the Austrian Economic Association (NOeG) at the Vienna University of Economics (WU), May 21–22, 2004. Any remaining errors are my own.     

Research on China’s export structure to the US: Analysis based on the US economic growth and exchange rate

Due to the rapid appreciation of RMB, the consistent declining of the US economy and other uncertain factors, China’s export volume to the United States has declined. The paper first chooses six industries to divide them into three groups based on per capita possession of capital, then employs the monthly data from 2001 to 2008 to carry out EG two-step cointegration test, and finally analyzes the impacts of the US economic growth and the exchange rate variability on different export industries. Empirical results show that the labor-intensive industries are most susceptible to fluctuations brought by economic growth and real exchange rate, while those industries with higher per capita possession of capital are less susceptible to external factors. In the short run, the export of labor-intensive products gives an advantage to China’s foreign trade development, but in the long-run, these industries will be affected greatly by various uncertain factors and the advantages of China’s labor-intensive export industries will disappear with the shift of the international division. Therefore, the only way to guarantee the dominant position of China’s foreign trade is to develop capital and technology intensive export industries and upgrade export structure.     

Competing Perspectives on the Liberalization of China’s Foreign Trade and Investment Regime

Using an institutionalist reading of the capability approach, I advocate policies for enhancing financial capabilities via financial inclusion. There are 34 million unbanked and underbanked households in the USA (with 68 million adults), many of whom rely on alternative financial services providers (AFSPs). Rather than castigate AFSPs for the predatory practices of some in the industry, this paper argues that a regulated industry can be integral to meeting needs of lower-to-moderate income communities. A typology of existing financial services in the USA is the basis for presenting these proposals. The policies I evaluate concern the economy's structures and institutions rather than focusing on an individual's or a household's financial literacy.     

Emil Lederer’s Theory of Economic Fluctuations and the Role of Financial Institutions

Abstract

Emil Lederer was characterized as the “leading academic socialist of Germany in the 1920’s” by Joseph Schumpeter and was a highly respected economist of his time. However, most aspects of his work remain totally unexplored. This paper focuses on Emil Lederer’s theory of economic fluctuations defending the thesis that certain aspects of Lederer’s conceptualization of economic fluctuations underwent considerable modifications when his 1925 article Konjunktur und Krisen is compared with his 1938 book Technical Progress and Unemployment, a shift unacknowledged so far in the literature. In his first attempt to tackle the issue, in Konjunktur und Krisen (1925), Lederer had constructed an explanation consistent with the so-called “disproportionality theory” introduced by Tugan-Baranowsky (codified as “early Lederer”). However, Lederer’s conception of the business cycle during the 1930s and especially in his major work Technical Progress and Unemployment underwent considerable modifications. Lederer’s (1938 Lederer, E. 1938. Technical Progress and Unemployment, Geneva: King and Son.  [Google Scholar]) analysis is, apparently, very ‘Schumpeterian’ (codified as “late Lederer”). In this version of his theory, the cycle is explained by supply-side factors, and more specifically by technical change. Additionally, Lederer’s view on the role of financial institutions (credit and banks) with regards to business cycles is analysed. Lederer avoided attributing a causative role to monetary factors. The interrelation between ‘real’ factors and financial institutions constitutes an essential element in his analysis of the business cycle.     

Concentration and Multinationality in European Manufacturing: What’s the Effect on Productivity?

Using the time comparable matrix data from Sleuwaegen and Veugelers (2001), this paper investigates the impact of concentration and intra-EU distribution of multinational production on productivity growth in European manufacturing. In line with previous research, our estimation results indicate that market structure is indeed an important determinant. Productivity growth is significantly reduced through increasing concentration, while it is increased in industries with growing competitive pressure, e.g. from import penetration. The increasing intra-EU dispersion of multinational production likewise fosters productivity growth: Multinational firms promote technological change and transfer their firm-specific assets across countries.JEL codes: L11, F23     

An Empirical Study on the Contribution of Fiscal Expenditure to Sichuan＇ s Agricultural Economic Growth

利用1978～2010年间四川财政支农和第一产业相关数据,运用协整检验理论及误差修正模型,分析了四川财政支农支出对第一产业的增长效应。研究结果显示,四川财政支农支出相对于第一产业GDP增长弹性系数为0．784。财政支农支出结构中对四川第一产业增长效应高低次序依次为：支援农村生产最高,农林水利气象等部门事业费次之,科技投入及农业基本建设支出最差。     

China’s competition and the export price strategies of developed countries

This paper analyzes the impact of Chinese competition on developed countries’ export prices. The empirical application is on Italy, one of the main European manufacturing exporters with exports at high risk of competition from China. Our results show that, following China’s entry into the WTO, the price strategies of Italian firms has been affected. While in general the increasing Chinese export competition resulted in an upgrading of products exported, the impact has been different according to the sector and technological level. The incentives to upgrade have been stronger for low technology sectors, where competition is tougher and varieties of products sold lower. To highlight quality differentials, and isolate the effects on the different segments of the distribution of Italy’s export prices, we run quantile regressions. We find that are mainly those products sold at low prices to face a strong pressure to upgrade.     

On the Slowdown of Productivity Growth in the Netherlands 1960–1988: A Macro Economic Vintage Diffusion Approach

This paper presents a simple vintage model that incorporates the idea of the diffusion of new technologies. As a first attempt we use a macro-economic inspired distribution of technologies which are embodied in new equipment. The speed of diffusion depends on expected profits and on accumulated knowledge. The choice of the initial labour intensity stems from the behaviour of firms, however. From our estimation results on Dutch data for the enterprise sector it appears that the speed of diffusion has an impact on the average labour productivity of newly installed equipment such that the productivity paradox can be explained. Due to a decrease in the speed of diffusion in the late seventies and eighties, the growth of the average labour productivity declines whereas the labour productivity growth of the most advanced technologies proves to be stationary during the estimation period from 1960 to 1988.     

China’s rural institutions and governance since the beginning of the rural reform

ABSTRACT

This paper looks at how China governs its vast rural territories. The structure of rural governance relies not only on the extent and form of the state’s authority, but also on the principal–agent relationship between the state and local stakeholders, as well as the role of the informal institutional arrangements that serve as the foundation for rural governance. China’s 40 years of reform and opening have led to the transformation of rural China into urban and rural China. The rules and order of informal institutions have evolved and changed significantly, and the cost-benefit structure of formal state governance has been amended. The appropriate rural governance system for village transformation improves the performance of the country’s direct governance and the entrustment–agent system for village governance. Further, the rural governance system balances formal and informal institutions to achieve an effective institutional arrangement.