产业集群与区域城市化进程关联的固定效应模型实证研究

改革开放以来,我国区域经济形成了各类产业的集群和周边城镇向城市的演进发展,产业集群的"城市化"效应凸显。产业集群与区域城市化进程存在互动影响关联,不同产业集群程度在其城市化进程水平上表现出差异,产业核心所在城区内外的集群平衡性差异导致其城市化进程与产业集群的非完全意义协同性发展。整体而言产业集群对区域的城市化进程有所推进。     

DOES MONOPOLISTIC COMPETITION EXIST IN THE MENA REGION? EVIDENCE FROM THE BANKING SECTOR

The goal of this paper is to empirically assess the level of banking competition in selected Middle East and Northern African (MENA) countries. The analysis employs the estimation of a non‐structural indicator (H‐statistic) introduced by Panzar and Rosse and draws upon a panel dataset of eight MENA countries (Algeria, Egypt, Israel, Jordan, Morocco, Oman, Saudi Arabia, and United Arab Emirates) over the period 1997–2012. The empirical findings are robust towards three different panel data econometric techniques (Ordinary Least Squares, Pooled Generalized Least Squares with Fixed Effects, and Generalized Method of Moments) and consistent with other similar studies, providing sufficient evidence in favour of a banking monopolistic competition regime. Furthermore, the estimation of three other alternative measures of competition (Lerner index, adjusted Lerner index, and conduct parameter) provides similar results, revealing that the banking sector in the MENA region is characterized by a low level of Significant Market Power (SMP). Overall, the analysis shows that, despite similarities in the process of financial regulatory reforms undertaken in the eight MENA countries, the observed competition levels of banks vary substantially, with Algeria and Morocco consistently outperforming the rest of the region.     

What Implications Does COVID-19 Have on Sustainable Economic Development in the Medium and Long Terms?

Given the enormous impact that the COVID-19 pandemic had on China’s economy, helping companies to revitalize post-pandemic economic activities promptly is a priority for the whole society. This necessitates the smooth circulation of production-factors among different economic entities, departments, and regions. The pandemic’s huge impact on the economy is evident in the severely hampered flow of these factors, including labor, materials, and capital. Therefore, using data and digital technology, combined with a contact-free allocation of labor, capital, and materials, to accelerate the flow of production-factors is critical to the post-pandemic economy’s restoration. Such a policy can not only provide a short-term stimulus but also a momentum for China’s mid- and long-term sustainable economic development.     

基于Panel Date的中部农村居民消费结构实证分析——以山西省为例

以山西省农民消费结构为研究对象,以消费性支出函数为工具,利用Panel Date模型对山西省农村居民消费结构和收入水平进行检验和实证研究,反映出近5年来山西省各地区农民消费的一般特征,并结合山西省11个地市差异以及农村居民的现状与消费结构差异的关系进行分析,不同地区的消费行为确实存在显著差异,要素流动性、资源禀赋和区位优势等区域经济基础要素与平均消费倾向负相关。结果表明,在山西省整体经济形势良好的局势下,收入层次的提高,居民消费的积极性增强。     

基础设施投资结构与产业结构模型研究——以北京为例

通过对北京市基础设施投资结构与产业结构的统计测度,挖掘出两者的相互影响的深层联系,即产业结构变动对基础设施投资结构变动的影响大于基础设施投资结构变动对产业结构变动的影响,利用格兰杰因果关系检验得出产业结构变动是基础设施投资结构变动的单向格兰杰原因;初步给出两者相互作用的机制和途径,进而从各自结构内部的活跃因素的角度提出北京市基础设施投资结构与产业结构的协调发展的政策建议。     

区际生产要素流动的网络模型研究

文章基于生产要素跨区域流动视角,构建了区际要素流动的网络模型.对区域间生产要素、要素的主体、要素的流动以及区域环境的概念进行了界定;认为区域间生产要素流动网络是指在市场机制作用下,基于要素价值比较、价值互补和价值创新,由具有自适应性和自主决策能力的要素主体所构成的一个网络状的组织模式;网络随着时间而不断进化,受到内部环境的制约、外部环境的影响,或者根据预先设定的规则来演化;提出了网络的微观和宏观特征度量指标.文章采取的网络分析方法既可以用来研究区域内部的生产要素流动,也可以用来研究区域间的流动,还可以在更为广泛的范围来研究全球化的资源配置.     

中国要素产出弹性估计

要素产出弹性是分析经济增长的绩效、特征与可持续性等问题的重要参数。我国改革开放以来要素产出弹性估计结果是:1978-2004年,资本的产出弹性平均为0.56,劳动的产出弹性平均为0.44,并且资本的产出弹性呈不断下降趋势,而劳动产出弹性呈不断上升趋势;东部地区的资本产出弹性高于中部地区,中部地区又高于西部地区;全要素生产率年均增长率在3.7%~3.9%之间。     

Computing equilibrium bond prices in the Vayanos-Vila model

We develop tools for computing equilibrium bond prices for the discrete-time version of the Vayanos–Vila (2009) model. With the maturity structure included in pricing factors, factor loadings for equilibrium bond yields depends critically on parameters describing maturity structure dynamics and other model parameters. An illustrative example shows that the effect on the yield curve of a supply shock originating in a given maturity, although hump-shaped around the originating maturity, is to change yields broadly across all maturities.     

Foreign direct investment and economic growth: Is more financial development better?

We investigate the extent to which an increase in financial development affects the positive effect of foreign direct investment on economic growth. Although the financial sector is beneficial for economic growth, the effect of further financial development on growth is found to become insignificant. Using a dynamic panel threshold model on 62 middle- and high-income countries spanning the period 1987–2016, we re-examine the possible nonlinearity between finance, foreign direct investment, and growth. Consistent with the “vanishing effect” of financial development, we find significant evidence that foreign direct investment fosters growth in general, but the growth effect of foreign direct investment becomes negligible when the ratio of private sector credit to gross domestic product exceeds 95.6%. This finding is robust to different econometric methods, various subsamples and interaction analyses, and distinct financial development indicators.