财政购买性支出激励与经济持续增长——兼论确立服务型政府的合理性

本文建立了政府支出创新激励经济增长的理论模型,模型表明政府支出对经济增长的效应取决于预算、投资生产率和支出结构.借助VAR实证模型,中国的经验实证分析表明:公共花费是公共投资的基础,也是GDP增长的主要影响变量;公共投资不一定能促进GDP增长.为此,我们提出政策建议:必须转变政府职能,由投资型政府变为服务型政府,以促进经济持续增长.     

城市化进程中公共投资问题研究

在政策层面上,我国已经开始注重利用公共投资扩张手段以实现经济持续稳定增长的目标,但我国的公共投资还存在着诸多问题,特别是随着我国城市化进程的加快,公共投资规模和结构问题更加突出,不仅阻碍了经济持续健康稳定的增长,而且引发了一些社会问题,直接影响了和谐社会的构建.本文在简要指出城市化进程中出现的公共投资问题的基础上,针对出现的问题,提出了相应的政策建议.     

矿产资源的资产化管理初探

中国经济改革的进程在体制上表现为计划经济的退位和市场经济的逐步确立，在经济类型上表现为国有经济战线的收缩和多元化市场主体的不断壮大。国有经济应当逐步从竟争性领域中退出，主要承担公共事业项目投资，支持发展公共基础性产业和需扶持的支柱产业、新兴产业，对此理论界已基本达成共识。始于１９９３年的适度从紧的宏观经济政策效果明显。到１９９７年通货膨胀问题已基本解决，现在的问题是怎样扩大政府公共投资以刺激经济增长。随着国有经济战线的收缩和公共投资的扩张，由计划体制中延续下来的对政府投资和国有资产的管理模式已不…     

地方政府公共投资对区域经济差距影响的实证研究

文章从地方政府公共投资的视角,研究了我国三大区域之间的经济发展趋势。采用1994-2013年各省、直辖市、自治区的相关面板数据,利用GLS估计方法,对地方政府公共投资对区域经济差距的影响进行了实证研究。研究结果表明,我国区域经济增长差异变化在地区固定效应下不存在区域经济增长的收敛趋势,区域经济增长差异不断扩大,地方政府公共投资造成这一差距的进一步扩大。     

构建与市场经济相适应的政府公共投资管理体系

中国经济改革的进程在体制上表现为计划经济的退位和市场经济的逐步确立，在经济类型上表现为国有经济战线的收缩和多元化市场主体的不断壮大。国有经济应当逐步从竞争性领域中退出，主要承担公共事业项目投资，支持发展公共基础性产业和需扶持的支柱产业、新兴产业，对此理论界已基本达成共识。始于１９９３年的适度从紧的宏观经济政策效果明显。到１９９７年通货膨胀问题已基本解决，现在的问题是怎样扩大政府公共投资以刺激经济增长。随着国有经济战线的收缩和公共投资的扩张，由计划体制中延续下来的对政府投资和国有资产的管理模式已不…     

开展投资项目审计 促进经济更好更快发展

改革开放以来,我国公共投资事业的发展进入前所未有的鼎盛时期,围绕投资项目这一主题进行的研究广泛而深入;自90年代以来,公共投资项目的研究逐渐引起越来越多学者的关注,经过十多年来的探索和发展,已经取得了可喜的成绩。但是,公共投资项目审计的理论研究近乎处于空白状态。随着我国改革开放的深入进行,公共投资理论和实务的发展日趋庞杂,公共投资项目审计的任务更加繁重而艰巨。加强对公共投资项目审计理论的研究,不仅对公共投资项目审计理论的创新与发展,而且对完善政府投资决策,扩大内需和推动经济增长,促进我国经济摆脱国际金融危机的影响、实现更好更快发展,都具有重大而深远的意义。     

收入分配影响经济增长的人力资本传导机制分析——基于城镇困难群体就业的视角

收入分配并非能够直接影响经济增长,人力资本投资的增加,能够改善城镇困难群体的就业质量,进而推动经济增长和社会的进步。通过探讨城镇困难群体人力资本投资对经济增长的影响,相应地提出政府加强公共教育和制度建设,减少分配差距,倡导企业承担社会责任,困难群体个人自身努力等,以实现扩大收入分配对经济增长的正面影响。     

提升我国公共投资效率的思考

正公共投资作为提升公众福利、熨平经济波动、促进经济持续均衡增长的政策工具,被世界各国政府所推崇。认真分析研究提升我国公共投资效率的对策,有助于促进我国经济社会持续健康发展。一、我国公共投资效率有待提升我国当前特定的政治经济制度,以GDP为核心指标的政绩评价制度,给予地方政府促进地方经济增长的充分激励、预算软约束,由于投资失误责任追究乏力等原因,各级地方政府纷纷扩大公共投资政策,以促进地方经济持续快速增长。     

健康人力资本对经济增长的影响

本文参考阿格诺尔(Agénor)的研究,在一个包含政府和私人两种健康投资的内生增长模型中,分析两种健康投资对健康积累和经济增长的影响。得出结论：一是健康人力资本对经济增长的效应在不同的阶段存在差异,公共健康投资和私人健康投资要保持适当比例,经济增长率才会达到最优。二是两种健康人力资本投资的产出收益均存在一定的滞后性,政府公共健康投资相较于私人健康投资滞后期更长,但产出效应也会维持更长时间。     

对天津市公共支出结构与经济增长的实证研究

各国长期的实践经验证明,公共支出对经济增长有显著的推动作用,特别是当宏观经济处于萧条状态时,政府增加公共支出不但维持和促进了经济增长,而且还有助于稳定社会秩序、增强投资者信心、刺激民间投资。笔者拟采用计量经济学相关知识建立计量模型，以探讨天津市公共支出结构对经济增长的影响、以及公共支出各具体支出项目比重的变动与经济增长之间的相互关系．     

现代物流产业对黑龙江省经济发展的促进作用

现代物流业作为“第三利润源”,正成为很多国家和地区经济发展的重要领域而积极扶持与建设。黑龙江省作为一个自然资源丰富、农产品富足、重工业集中的大省,积极发展现代物流业,对黑龙江省实现经济转型、提高企业竞争能力、调整与优化产业结构、推动区域经济的分工与协作、改善投资环境等诸多方面意义重大。     

Do constraints created by economic growth targets benefit sustainable development? Evidence from China

An economic growth target is a declaration by policy authorities of commitment to that target and the corresponding allocation of resources. The constraints created by economic growth target are an important economic management method in China, which has helped China's economy to achieve remarkable achievements. However, it has also brought about serious environmental problems, threatening China's sustainable development. Using the data about economic growth targets in the work reports of 30 Chinese provincial governments from 2006 to 2017, this paper constructs several spatial measurement methods, such as the spatial Durbin model, to examine the constraints created by economic growth target's impacts on air pollution. The main conclusions are as follows. First, a significant “U-shaped” relationship exists between the constraints created by economic growth targets and air pollution. Second, the spatial Durbin model analysis revealed that PM_2.5 across China's provinces display significant positive spatial spillover effects and spatial agglomeration characteristics. Third, the direct, indirect, and total effects of constraints created by economic growth targets on air pollution are all statistically significant and depict a “U shape.” Finally, the constraints created by economic growth targets have an apparent threshold effect on air pollution, and the inhibiting effects increase with human capital and industrial restructuring. However, with the increase in foreign direct investments, constraints created by economic growth targets may increase air pollution. The conclusions of this paper are of great significance for improving the management of local government economic growth targets and sustainable development.     

The environmental and macroeconomic effects of socially responsible investment

We analyze the effects of socially responsible investment and public abatement on environmental quality and the economy in a continuous-time dynamic growth model featuring optimizing households and firms. Environmental quality is modeled as a renewable resource. Consumers can invest in government bonds or firm equity. Since investors feel partly responsible for environmental pollution when holding firm equity, they require a premium on the return to equity. We show that socially responsible investment behavior by households partially offsets the positive effects on environmental quality of public abatement policies.     

山西省房地产投资与经济增长的协整分析

结合山西省房地产业与国民经济的发展状况,采用1990~2012年的数据对山西省的房地产投资与经济增长的关系进行了协整分析和Granger因果检验。经过协整分析得出房地产投资与经济增长有长期稳定的均衡关系,同时发现房地产投资是经济增长的Granger原因。     

Effects of foreign aid on the recipient country’s economic growth

We introduce an infinite-horizon endogenous growth framework for studying the effects of foreign aid on the economic growth in a recipient country. Aid is used to partially finance the recipient’s public investment. We point out that the same rule of aid may have very different outcomes, depending on the recipient’s circumstances in terms of development level, domestic investment, efficiency in the use of aid and in public investment, etc. Foreign aid may promote growth in the recipient country, but the global dynamics of equilibrium are complex (because of the non-monotonicity and steady state multiplicity). The economy may converge to a steady state or grow without bounds. Moreover, there are rooms for the divergence and a two-period cycle. We characterize conditions under which each scenario takes place. Our analysis contributes to the debate on the nexus between aid and economic growth and in particular on the conditionality of aid effects.     

EFFECT OF PUBLIC INVESTMENT ON THE REGIONAL ECONOMIES IN POSTWAR JAPAN

This paper examines the effect of public investment on the regional economies of postwar Japan. It evaluates the effects of efficiency-verses-equity-oriented allocation policies by estimating the aggregate regional production function and calculating the marginal productivity of public capital for each region, using panel data covering the 47 prefectures over the period from 1955 to 2000. The empirical results show that public capital investment has alternated between an allocation policy based on efficiency and one that is based on equity, and, in fact, such investment was used as a policy tool for adjusting income distribution and accelerating economic growth. Numerical simulations are used to analyze the trade-offs between economic efficiency and inter-prefectural equity. The results indicate that in the case of income-elastic labor mobility, an efficiency-oriented allocation policy leads to larger aggregate gross domestic product by promoting both growth and equity simultaneously.     

区域间公共基础设施溢出效应研究

运用中国各省(市、自治区)1990-2008年的面板数据,通过建立空间计量模型,对区域问基础设施投资的空间外溢性进行检验.研究结果显示.公共基础设施投资对区域经济的增长不仅在本区域内具有外部溢出效应,在区域间也存在显著的外部溢出效应.这表明莱一地区的公共基础设施投入不仅可以提升本地区的产出,也会对相邻区域的经济增长产生...     

区域环保投资与经济可持续发展研究——基于我国区域面板数据比较分析

低碳环保下,环保投资对区域经济可持续发展影响存在差异。本文采用面板数据研究我国东中西部环保投资与经济可持续发展关系。研究结果表明,城市环境基础设施建设投资(CSHJ)是当前环保投资的关键,其在东中西部对经济增长影响度远大于工业污染源治理投资(GYWR)及新建项目"三同时"环保投资(XJXM);但是环保投资政策受到区域差异化影响而不同,在东部加强城市环境基础设施建设投资(CSHJ)和工业污染源治理投资(GYWR),其效果要好于中部,中部好于西部;在西部,要加强新建项目"三同时"环保投资(XJXM),其效果要好于中部,中部好于东部。因此,政府应实施区域差异化投资战略。     

Should we worry about the decline of the public corporation? A brief survey of the economics and external effects of the stock market

In recent years, the number of listed companies has been declining in many countries across the world. This paper provides a selective survey of the literature on the real economic effects of the stock market to assess the potential effects of this decline and determine whether it is likely to continue. The leading economic role of the stock market’s primary market, in which firms raise capital by issuing new shares, is to help growing firms secure financing. We discuss providing and certifying information, coordinating investors, and easing the redeployment of capital as the means through which capital allocation can be efficiently achieved. The main economic roles of the stock market’s secondary market, the trade in existing shares, is to provide liquidity to shareholders, to aid in price discovery and to provide diversification opportunities. Positive external effects from an active stock market may arise for consumers, labor and private firms due to increased corporate investment, more socially responsible business strategies and a more positive business climate. Negative external effects on capital allocation and productivity can arise from short-termism, market mispricing, and increased cross-ownership. Local stock markets can spur innovation and foreign direct investment (FDI) and reduce the risk of early cross-border acquisitions. Given the myriad of useful economic functions the stock market performs, a future entirely absent of public companies is difficult to imagine and the decline is therefore likely at some point to come to an end. Whether we need to worry about the decline depends on the relative importance of the positive and negative external effects, a topic we feel warrants more research.