THE GROWTH OF THE INDIAN ECONOMY: 1860–1960

This paper is concerned with an examination of growth trends of the Indian economy between 1860 and 1960. This examination commences with the numerous studies bearing on the more recent part of this period, from about 1900 to 1960. These studies are shown to vary greatly in coverage and comprehensiveness, and their differences and individual shortcomings are assessed. Nevertheless, these studies conclude, without exception, that the Indian economy remained virtually stationary in this period, especially in terms of negligible growth in per capita real income. In contrast to periods since 1900, the study of economic growth during the earlier period has suffered academic neglect. There are only two major studies which make an attempt to examine economic trends in this period. Both these studies are found wanting with respect to concepts and procedures. The period from 1860 to 1913 presents serious problems in any study since there is a paucity of statistics which are at all reliable and useful. The most promising approach for overcoming this deficiency is to develop better sectoral statistics rather than to rely on aggregative data even when available. In order to gain a better understanding of the growth trends of the Indian economy over this period, the author constructed indices of major economic activities. These indices demonstrate that relatively high rate of economic growth prevailed in India before 1890. Subsequent developments in the Indian economy seem to consist of minor changes in the magnitudes of economic variables rather than fundamental structural changes. Thus, the Indian economy is shown to have enjoyed relatively high rates of growth only in the initial three decades of the hundred-year period, 1860–1960.     

中国省域人口迁移的经济增长效应——基于内生增长视角的实证分析

陈述了改革开放以来我国的人口迁移规律,从理论上分析了人口迁移的动态变迁过程,并结合一般均衡理论、新古典增长模型说明了人口迁移过程中的经济发展水平变动特征。构建含带人口迁移因素的内生增长模型,对人口迁移的内生增长作用机制作出了解析,并以此为基础实证分析了我国省域近10年来人口迁移对经济增长的内生影响特征与变动趋势。二元人口迁移存在明确的动态均衡过程,受其影响,会导致城乡两部门出现产出的一般均衡状态,而这一状态符合新古典增长模型所设定的假设条件与稳态结论。从实际情况看,我国省域间的城乡二元人口净迁移具有明确的经济增长效应,同时不同省份、四大区域总体上表现出增长效应递减特征。     

浅析现代经济增长理论的演变

经济增长不仅是经济学研究的永恒主题,更是全世界都普遍关注的问题。从亚当·斯密开始,经济学家就不断地对经济增长进行探索。正是由于经济增长与全世界人民的福利息息相关,所以我们对经济增长的研究就显得格外重要。然而随着经济全球化的发展,传统经济增长理论已经不能解释现代社会经济发展过程中出现的种种现象。理论和现实之间的矛盾促使我们探求现代经济增长理论,以更好地解释世界。因此,对现代经济增长理论的演变进行探索,具有积极的理论和现实意义。本文从经济增长的事实入手,首先界定了现代经济增长的概念,然后对现代经济增长理论的发展脉络进行梳理和阐述,分别对哈罗德一多马模型、新古典经济增长模型（外生增长理论）和新增长模型（内生增长理论）进行了详细分析。通过分析可见现代经济增长理论经历了由技术外生增长到内生增长、市场结构由完全竞争到垄断竞争的演变。     

中国城镇化进程中经济增长方式评价*

在经济增长动力不足的当下，通过城镇化手段刺激内需进而拉动经济增长是必要举措。但中国城镇化模式是否粗放,是否有助于转变经济增长方式，却尚未被解答。为此，本文摒弃测算TFP增长率的新古典条件，放松生产函数形式、规模报酬不变和技术进步希克斯中性的要求，给出要素贡献率的非参数测算方法。在方法创新的基础上，本文实证研究显示：1985-2012年资本对中国经济增长的贡献率为6415%，占主导地位；劳动贡献率为326%，能源贡献率为2175%，而TFP贡献率仅为1084%，因此样本期间经济增长方式较为粗放，并且从趋势上看这种粗放性没有显著改善。回归分析表明，相比中国的工业化和服务业化而言，以往的城镇化比较粗放，阻碍了经济增长方式转变。因此，在经济新常态下转变经济增长方式更应当注重转变城镇化模式。\     

对西方主流宏观经济学均衡假定的反思——从凯恩斯主义的投资恒等于储蓄说起

自从凯恩斯的《通论》出版以来,宏观经济学就逐渐成为一个比较系统而相对独立的学科,后人将凯恩斯的短期经济增长模型进一步长期化为外生和内生经济增长理论.纵观主流宏观经济学的理论构建,几乎都有一个共同的假设:市场能够自动实现均衡,但是,正是这个假设将西方主流宏观经济学引入了歧途.对于原凯恩斯主义、新古典综合派、新凯恩斯主义、哈罗德-多马的古典经济增长理论和索洛的新古典增长理论、新古典宏观经济学派而言,它都是一个难以回避的硬伤.     

新常态下的人力资本与经济增长——综合金融资本和创新创业的理论建模

在国内外形势的双重影响下,中国经济步入了"新常态"的阶段,放缓的经济增长步伐带来新的矛盾和挑战,经济增长模式从以往的粗放型逐渐向集约型转变,但以往的经济理论在经济新阶段都具有一定的局限性.本文使用主流宏观经济学前沿的建模方法将现有的四大经济增长理论囊括在一个综合模型中,把人力资本投资、金融资本投资、实物资本投资、创新创业活动、纳什博弈机制有机地结合在统一的分析框架下,对经济增长理论文献做出重要的概括和拓展.通过校准赋值和数值模拟,得出理论模型的基本结论:人力资本积累虽然可以通过创新和创业促进经济增长,但是其效果仍是递减的,呈现出新古典增长模型的属性.     

经济自由及其变动的增长效应——来自跨国经济增长面板数据的再检视

经济自由是市场经济的基础，是社会基础设施（Social Infrastructure）的核心内涵。经济自由的提升有利于提高存量资本的生产配置效率，并对国内外投资给出积极信号，推动经济增长。本文在新古典经济增长理论框架下，研究各国社会基础设施发展水平的不同及其转型动态，用近百个国家的增长面板数据验证经济自由水平及其提升的增长效应。此外，本文还用动态面板数据的GMM估计方法检验发现，经济自由是经济增长的Granger原因，而后者不是前者的Granger原因。该结论对发展中国家的经济发展政策具有指导意义。     

二次城市化、土地开发与经济增长

文章将二次城市化水平定义为城镇户籍人口占城镇总人口的比重,构建了一个包含城市化、二次城市化和城市土地开发的中央计划者模型,在利用1985-2008年数据对模型参数进行估计的基础上,模拟分析了城市化对经济增长的影响。结果发现,城市化水平的提高对经济增长有积极作用;当人口在城市落户的成本较高时,提高二次城市化水平和城市用地相对面积会显著降低经济增长率;当落户成本较低时,上述负面影响并不明显。在进一步推进城市化的同时,应保持城乡用地的动态平衡,根据落户成本施行差别化的户籍开放和土地开发政策,让中小城市和小城镇成为吸纳人口进城落户的主要场所,这为"十二五"规划建议中有关城镇化的内容提供了理论依据。     

Farm work, home work and international productivity differences

Agriculture's share of economic activity is known to vary inversely with a country's level of development. This paper examines whether extensions of the neoclassical growth model can account for some important sectoral patterns observed in a current cross section of countries and in the time series data for currently rich countries. We find that a straightforward agricultural extension of the neoclassical growth model fails to account for important aspects of the cross-country data. We then introduce a version of the growth model with home production, and we show that this model performs much better.     

TAXES AND GROWTH: TESTING THE NEOCLASSICAL AND ENDOGENOUS GROWTH MODELS

Changes in the tax rate alter real growth permanently in an endogenous growth model, but only temporarily in a neoclassical model, where the only permanent effect is a decrease in the steady-state level of output per capita. Using data from the 1960'1992 period for a panel of 11 Organization of Economic Cooperation and Development economies, this paper's empirical results support the following conclusions. First, consistent with the tax smoothing hypothesis, tax rates have exhibited significant persistent changes while output growth rates have not. Second, a higher tax rate permanently reduces the level of output but has no permanent effects on the output growth rate. These findings are inconsistent with endogenous growth mechanisms and suggest that the relationship between output and the tax rate is best described by the neoclassical growth model. (JEL E62, 041)     

Property and Industrial Organization in Communist and Capitalist Nations

Endogenous growth theorists argue that certain equity-enhancing social institutions enhance growth. Despite the centrality of inequality in these approaches, there is no sense in which economic actors exercise power or collective action to create and maintain social norms and rules that are personally advantageous but socially costly. This despite the work of neoclassical economists on rent-seeking, which posits that efforts to claim unearned revenues can pose significant costs for growth. The question of the impact of gender equity on economic growth is an instructive context for understanding these contradictions. Even though gender practices are inherently about the exercise of power, that they have become a feature of the neoclassical growth literature alights on obvious tensions in the neoclassical institutionalist paradigm. By incorporating insights from both the rent-seeking and feminist economics literatures, we will present analternative explanation of why gender hierarchies persist despite their obvious economic costs.     

When green isn't mean: economic theory and the heuristics of the impact of environmental regulations on competitiveness and opportunity cost

The conventional neoclassical economic wisdom argues that the opportunity costs of environmental regulations are high, with negative implications for costs and profits and, by implication, for growth and per capita gross domestic product (GDP). The minority view that environmental controls induce cost offsets that minimise such opportunity costs is marginalised by the conventional wisdom, which assumes that economic agents are x-efficient in production. A behavioral model of the firm is presented in this paper, whereby x-inefficiency in production prevails even in a world of perfect product market competition that is dominated by rational economic agents. In this model, environmental regulations affect both the level of x-efficiency and the extent of technological change and greener firms can be cost competitive and profitable. However, private economic agents cannot be expected to adopt ‘Green’ economic policy independent of regulations since, in this model, there need not be any economic advantage accruing to the affected firms in becoming greener.     

城市化水平与长期经济增长关系的实证分析——基于27个省份面板数据的考察

笔者利用一个城市化水平内生增长模型,借助非平稳面板数据的方法,考察了中国省际城市化水平与经济增长之间的关系。结论表明,虽然中国整体的城市化水平比较低,需要通过提高城市化水平来促进经济增长,但并不是所有省份的城市化水平提高都能促进经济增长,某些省份存在着相对于经济增长的过度城市化问题,其城市化水平的提高对经济增长起负向作用,而且过度城市化的负面效应会抵消投资所带来的效应。     

产业结构变迁、劳动力市场扭曲 和中国劳动生产率增长放缓*

自2007年以来,中国的劳动生产率呈现出增长放缓的趋势。本文建立了包含劳动力市场扭曲和部门效率差异的三部门一般均衡模型,对劳动生产率增长放缓的原因进行了分析。本文的模型可以较好地拟合劳动力部门间再配置和劳动生产率增长放缓的特征事实。数值模拟结果表明,第三产业劳动生产率低速增长是导致中国总劳动生产率增长放缓的主要原因,而劳动力市场扭曲的减弱和第一产业劳动生产率的加速增长则对总劳动生产率增长放缓起到了遏制作用。这些结果证明,劳动生产率的增长放缓在很大程度上是产业结构变迁带来的。政府可以实施放松服务业进入规制和消除劳动力市场扭曲等政策,提高总劳动生产率的增长率。     

The analytical solution of balanced growth of non-linear dynamic multi-sector economic model

In a one-sector neoclassical dynamic economic growth model, a reasonable ratio of investment to consumption exists, i.e., the “Golden Rule of Consumption”. This study is to extend one-sector neoclassical growth model to a multi-sector one. It is assumed that both the production function and the utility function are of Cobb–Douglas type, and the analytical expression of the balanced growth solution of the multi-sector model is provided, mainly including analytical expressions of the optimal distribution coefficient of fixed capital investment, the optimal distribution coefficient of labor hour, the proportion of production, the economic growth rate, the rate of change of the price index, and rental rates of different fixed capital.     

Interest Rates and Wage Indexation

The growth effects of European economic and monetary intergration and the progress of

regional convergence across Europe depend on whether economic in Europe is consistent with a neoclassical or an endogenous growth model. Using annual data from the 1950-1992 period for each of 20 European economies, the paper finds that steady-state real growth rates are generally unaffected by changes in the investment rate, population growth, and government consumption, evidence consistent with neoclassical growth theories. This Strengthens the likelihood of regional (perhaps conditional) convergence, and suggests that the effects of greater monetary and economic unification will be in terms of higher incomes per capita, but not in terms of permanently higher growth rates.[O40,F43]     

我国区域金融发展与经济发展关系再研究——基于我国三大区域面板数据的检验和分析

笔者基于我国东、中、西部1978年～ 2007年省际面板数据,运用面板单位根检验、协整检验及误差修正模型,对我国三大区域金融发展与其经济增长、产业结构、城市化之间的长期和短期关系进行了比较研究.研究表明三大区域金融发展与其经济增长、产业结构、城市化之间的关系具有明显的区域差异.东部的金融发展,不论在长期还是短期,均能助推其经济增长、产业结构优化升级和城市化进程,但在促进经济增长过程中也带来了通货膨胀的负效应;中西部的金融发展虽然在长期能引导其经济增长、产业结构升级及城市化进程,但短期因果关系并不成立;中部金融塌陷明显,而西部金融发展对城市化的边际贡献最小.     

论中国经济的长期增长

中国经济是否能保持中长期的持续快速增长 ,本文在作者提出的经济增长模型的基础上 ,给出了肯定答案。该模型的基本结论是 ,一个经济体的长期增长进程分为加速和减速增长两个阶段 ,加速增长阶段表现为快速工业化和过去利用效率过低的农村劳动力大规模城市化。目前的中国尚处于工业化、城市化过程中 ,即加速经济增长时期 ,而且这一过程还要维持相当长的时间。所以从中长期看 ,中国经济还会保持快速增长。     

辽宁老工业基地的工业化、城市化及其路径选择

辽宁的重工业对其城市发展和城市化发挥了积极的推动和支撑作用。但1970年代后期以来,辽宁工业化率特别是重工业比重随经济体制转轨和国企改革出现了一定程度的下降,相反,人口城市化率则在经历了1960、1970年代的下降后重现生机,持续上升,工业化与城市化的关系由同向变动逆转为异向变动。文章通过对辽宁工业化和城市化过程的考究,探讨了其工业化、非农化与城市化的关系,提出了进一步推进辽宁工业化和城市化的新思路。     

Economic growth and urbanization: A cross-section and time-series analysis of thirty-five developing countries

In this paper, we discuss the influence of urbanization and urban primacy on the economic growth rates of developing nations. Included in the paper is preliminary evidence, from cross-section and time-series analyses, that while urbanization is an inevitable product of economic development, the process of urbanization is best achieved when the urbanization is managed and gradual. Time-series and cross-section analyses indicate a negative relationship between urbanization and urban primacy and economic growth. However, further cross-section analysis shows that all industrialized economies are highly-urbanized. The dichotomy is explained in that urbanization is inevitable with economic growth, but the pace and character of urbanization also matters. We present a basic model that predicts the economic growth rates of developing nations. The tests performed could only follow the general tone of the model because of the limitations of the data sources. (JEL: O10, O18, O40)