收入分配决策的情境依赖性及其神经机制研究

分配正义关涉的是如何以一种公平正义的方式在个体之间分配收入,学者们从各领域、各视角提出过诸多可供选择的分配方案与决策。行为实验研究则表明,人们的分配决策会因为给定的收入分配情境的不同而有所改变。这种改变表征着,不同情境下(无知之幕、知晓所在阶层、社会计划者)人们对于个人收益(自利或风险厌恶)和他人收益(公平或社会偏好)之间有着不同的权重偏好。然而,为何分配情境的不同会导致这种偏好动机上的差别,从而影响人们在分配上的行为决策,这一逻辑机理始终没有得到相关实证依据的解释。文章拟利用神经经济学研究方法,试图通过分离各种分配情境下风险偏好与社会偏好对分配决策的各自作用,进而为分配决策的情境依赖性提供神经基础,建立收入分配决策与特定脑区神经活动及相关偏好之间的因果联系。     

The millions of equations debate: Seventy years after Barone

Conclusion The general study of allocation mechanisms began with Barone's work, which established the theoretical feasibility of an alternative allocation mechanism. There were a number of aspects of the problem that Barone did not explicitly take into account, and it seemed that the central planner would have to solve millions of equations for feasibility and optimality of the allocation. Lange and Taylor were among the first to claim that if the parametric role of prices is kept, the problem of millions of equations would not arise. Socially desirable outcomes could be achieved in a decentralized manner, even without private property. The modern research has established rigorously the conditions under which this can be done. The 70-year-old debate on the feasibility of socialist planning identified at least three problem areas: the lack of an acceptable, all embracing and complete social criterion function, the problem of incentives, and the magnitude of the informational load. This review attempts to show that these issues continue to dominate modern research in the theory of allocation mechanisms. The first named author's research was financed by a grant (no. 410-80-0552) from the Social Sciences and Humanities Research Council of Canada. However the authors alone are responsible for the views expressed here.     

The productivity of public capital: Evidence from Japan’s 1994 electoral reform

This paper estimates the causal effect of public capital stock on Production, using Japanese prefectural data. We first articulate the difficulty of consistently estimating the regional-level production function with public capital that results from the endogeneity of the public capital stock amount. The public capital amount could be endogenous because of the central government’s political decision-making process of public capital allocation or the local government’s budgetary constraints.Japan’s electoral reform in 1994 offers an exogenous variation in the public capital investment across regions, and we exploit this event to estimate the causal effect of public capital on production. The reform drastically changed the distribution of political representation in the Lower House across regions, and it accordingly changed the allocation of public capital across regions as well. We cannot reject the null hypothesis that public capital is not productive based on the estimates from this natural experimental identification strategy.     

Managerial Discretion and Task Interdependence in Teams

This study investigates whether task interdependence in teams alters the effectiveness of managerial discretion in motivating team performance. Teams are particularly useful when employees' tasks are interdependent—that is, when the degree to which the increase in team performance resulting from a team member's effort depends on the effort and skills of the other team members. The reason is that the more interdependent tasks are, the more employees need to coordinate their actions and help one another to achieve their objectives. Prior research analyzing settings where task interdependence is absent suggests that providing managers with discretion over team bonus allocation can improve team performance relative to equal team bonus allocations because it strengthens the link between contributions to team output and rewards. Economic theory suggests that managerial discretion will also improve team performance when task interdependence is present and information is efficiently used. However, we use behavioral theory to predict that managerial discretion is less effective in the presence of task interdependence, because managers do not fully incorporate all relevant information into bonus decisions and because managerial discretion hurts coordination and helping, which is particularly problematic under task interdependence. We find that while discretion over compensation has a positive effect on team performance relative to equal bonus allocation when task interdependence is absent, it has a negative effect when task interdependence is present. Additional analyses provide support for our underlying theory. Results of our study contribute to both theory and practice by suggesting that, ironically, managerial discretion may be most useful when the potential benefits of employing teams are lowest and least useful when the potential benefits are highest. Our results help explain why firms often grant managers only partial or no discretion over team members' compensation.     

要素市场化配置程度测度、区域差异分解与动态演进——基于中国省际面板数据的实证研究

文章构建了基于市场化配置程度、市场化运作程度以及市场准入程度三大子系统52个具体指标的中国要素市场化配置程度综合评价指标体系。利用熵值法测算出2005-2018年中国要素市场化配置程度综合指数以及三个子系统指数,并运用Dagum基尼系数和Kernel密度估计方法揭示要素市场化配置程度的区域差异及演进趋势。研究发现：中国要素市场化配置综合指数总体表现为上升的趋势,市场准入程度相对于市场化配置以及市场化运作水平较高;中国要素市场化配置程度区域发展不协调,水平由高到低依次为东部-东北-中部-西部地区;中国要素市场化配置水平的区域差异主要来源于区域间差异,且东部-中部、东部-西部、东部-东北部地区间差异呈扩张趋势,中部-西部、中部-东北、西部和东北地区区域间差异呈逐步缩小趋势。文章为构建要素市场化配置综合评价指标提供有力的实证支撑,同时为提高中国及四大地区要素市场化配置水平提供有效的依据。     

Central development spending in the regions post-decentralisation

The central government spends just under one-half of its development budget outside Jakarta. The centre provides more than one-third of total development spending carried out in the regions. Central development spending in the regions on primary and secondary sector activities and on education and culture is especially significant. The spatial distribution of consolidated public development expenditure is very unequal. However, central spending mitigates inequality in the geographic distribution of subnational development expenditure, at least to a certain extent. Agood deal of central government spending in the regions appears to be on tasks that have been turned over to subnational governments and is therefore illegal under current decentralisation legislation. Central support of specific decentralised activities could be implemented more transparently and efficiently through the government's specific purpose grant.     

Optimising balance using covariate balancing propensity score: The case of South African child support grant

ABSTRACT

In this paper, we explore the use of covariate balancing propensity scores (CBPS) in estimating the impact of the South African child support grant (CSG) on the height-for-age score of benefiting children. CBPS is a different approach to estimating propensity score, under CBPS the scores are estimated such that the estimation incorporates covariate balancing condition. This approach is therefore relatively robust to misspecification of the propensity score model which makes it ideal for this case study. We show that utilising the CBPS leads to treatment effect estimate that is larger and more precisely estimated than estimates that have been reported in the literature because the method exploits the dual function of propensity score. The effect of CSG under CBPS is as large as 44% of standard deviation on average. This implies that the effect of the grant cannot be regarded as small as previously reported in the literature.     

企业战略执行的障碍及对策

战略执行是把决策转化为具体行动并最终实现战略目标的过程,如何促使战略有效执行越来越受到理论界和企业界的重视。然而,由于相关研究尚未系统和深入,缺乏理论指导的战略执行实践障碍重重。文章对企业战略执行过程中沟通、人力资源、组织架构、资源分配、反馈等主要障碍进行了分析,并提出了相应的对策,对执行的实践具有一定的现实意义。     

Africa's Economic Growth: Opportunities and Constraints

Abstract: Africa's economies have diverged from other developing regions: over the past three decades growth has been much slower. In this paper I relate this to the region's distinctive physical and political geography. These features not only make Africa different from other regions, they make some parts of Africa radically different from others. Understanding these differences is critical because they imply equally substantial differences in opportunities and hence in the strategies likely to be effective for growth. No pan‐African growth strategy offers a realistic prospect of success, nor can Africa simply copy the strategies of successful regions that have fundamentally different physical or political geography. I propose three strategies each of which is likely to be appropriate for a part of the region.     

产能过剩下银行信贷资源配置行为研究——基于控股股东的持股结构视角

中国产能过剩问题在金融危机后愈加突出,商业银行作为信用资源配给的关键部门,其授信行为在此背景下是否遵循了市场化原则还有待商榷。论文以中国上市银行2001-2012年的经验证据为样本,重点分析了金融危机后产能过剩下中国商业银行的信贷资源配置行为。研究表明,中国商业银行的信贷资源配置遵循市场化原则。但是,基于控股股东持股结构视角的进一步研究发现,控股股东持股结构对在产能过剩下商业银行信贷资源配置行为具有负面影响,但该负面影响并不显著。论文从产能过剩视角为中国商业银行信贷资源配置行为趋于市场化和商业银行股权改革的红利逐步释放提供了实证证据。     

Indonesian Intergovernmental Performance Grants: An Empirical Assessment of Impact

The government of Indonesia has now piloted two different output-based performance grants to regions. One focuses on increasing the amount and quality of local government capital spending. The other provides incentives for local governments to augment equity investments in their water enterprises and for the enterprises to use those investments to increase the number of household water connections to the poor. Impact evaluations of the two grants suggest some reasonably positive outcomes against the stated objectives. While the assessed impacts may not match the expected outputs (as argued by many performance grant enthusiasts), these impacts provide a plausible basis for the sustained development and use of such grants. The alternative would be to continue to rely exclusively on the equity-based approaches that have dominated intergovernmental fiscal relations in Indonesia and have led to rather weak local public service outcomes.     

资本配置效率的区域差异分析

文章结合我国1999—2006年经济统计数据,通过构建面板数据集,对我国各地区的资本配置效率以及行业的资本配置效率进行了实证分析。分析结果显示：我国不同地区之间资本配置都是有效率的,但资本配置效率在不同地区之间存在较大的差异。不同地区行业资本配置效率存在共同的规律,在国有经济比重较大的行业资本配置效率较低。相反,多种经济成分共同参与竞争的行业资本配置效率较高。     

基本医疗卫生服务均等化——基于熵值法对山东省7地市比较分析

基本医疗卫生服务均等化是实现全民健康覆盖、促进社会公平的重要战略。但是由于地区经济发展不平衡、政府财力不均等原因，区域间基本医疗卫生服务还未实现均等化。为了解山东省基本医疗卫生服务均等化现状，选取2010—2019年山东省7个地级市基本医疗卫生服务数据，构建包含3个二级指标、7个三级指标的基本医疗卫生服务均等化指标体系，利用熵值法确定权重进行均等化指数的测度，并结合实际对山东省基本医疗卫生服务均等化进行分析，为政府制定卫生政策提供依据。结果显示，各市均等化程度存在较大差异，各级政府应结合当地实际，从资源配置、财政制度及监督制度等方面采取相应措施来减小地区间的均等化差距。     

The effects of local government leadership turnover on entrepreneurial behavior

The behavior of entrepreneurs is significantly affected by the rules of the game and the behaviors of government officials, because they can affect the relative payoffs to different entrepreneurial activities. Based on a representative survey data of private firms and the information of city government officials in China, this paper shows that the change of key local government officials affects the time allocation of the entrepreneurs, and subsequently the performance of firms. In order to maintain and develop the business-government relationship, entrepreneurs have to allocate less time on productive activities and more time on non-productive activities. This effect is particularly large if 1) entrepreneurs do not have political connections, 2) new officials lack local working experience, 3) private firms belong to special industries, 4) private firms have large number of employees. This paper provides micro-level evidence to Baumol's entrepreneurship allocation theory and a mechanism to account for the observed negative effect of local government leadership turnover on local economic growth in China.     

The Food (In)Security Impact of Land Redistribution in South Africa: Microeconometric Evidence from National Data

The South African land-reform program has been widely criticized for its slow pace as well as its apparent lack of contribution to poverty reduction. No econometric evidence of the impact of land transfers has been provided to date and this paper attempts to fill this gap by considering the impact of receiving a land grant on households’ food insecurity. Propensity score matching and univariate probit estimates using two national household surveys indicate that, on average, land grant recipients are more food insecure than comparable non-participants. Recursive bivariate probit estimates suggest that selection bias is not driving this result.     

我国东部地区创新资源配置效率评价研究

使用DEA模型对我国东部11个省市创新资源配置效率进行研究，研究结果表明：我国东部地区虽然有6个省市创新资源配置效率较高，但仍有5个省市效率不高，存在不同程度的创新投入冗余或产出不足。基于此提出各省市应该充分发挥资源和地理位置的优势，不断优化创新资源配置效率的对策建议，使其能够在经济转型期间以创新驱动发展并带动中西部地区创新发展。     

基于宏观因子的SVR-Black-Litterman资产配置模型及其实证研究

随着全球经济不稳定性的增强和我国利率市场化的深入推进,金融资产的波动性不断加剧,资产组合优化配置问题依然是金融投资理论研究和实务领域的核心问题。Black-Litterman模型因其解决了传统均值方差模型对参数敏感的问题,且允许将投资者观点融入模型中,已被广泛应用于资产配置实践中。然而投资者观点矩阵的确定一直是Black-Litterman模型理论和应用研究的难点。将宏观因子融入投资者观点矩阵,应用基于主成分分析法的支持向量回归(SVR)模型实现观点矩阵的估计,构建融入宏观因子的SVR-Black-Litterman资产配置模型。为检验模型的有效性,将该模型与经典模型进行比较。实证结果表明,所构建的模型具有较好的市场表现。     

煤电产业布局对区域经济协调发展的影响研究——基于多区域可计算一般均衡模型分析

电力产业布局不仅影响我国能源生产与消费的格局,同时也影响着各地区的经济发展。基于2007年投入产出表,利用多区域动态可计算一般均衡(CGE)模型,比较分析区域配置和跨区配置两种不同的煤电发展模式对区域经济协调发展的影响。研究结果表明:相对于区域配置的煤电布局方式,跨区配置有利于拉动送端地区①的经济增长,促进送端地区与受端地区②的产业合理化分工,缩小地区之间的差距。     

Which eligible households get grants? Demographic correlates of receipt in South Africa

Since Apartheid, the South African government transformed and expanded the social grants system to improve the well-being of its vulnerable populations. Despite increased efforts, a sub-section of the grant-eligible population is not reached. Too little is known about the factors that contribute to grant receipt, especially for the household as a whole. This article examines the household and community characteristics associated with grant receipt among poor households in KwaZulu-Natal. We add to previous work by assessing grant receipt at the household level, examining receipt of the two major grants and analysing correlates in a multivariate framework. While associations with grant receipt are complex and varied, we find higher grant receipt (especially the Child Support Grant) among more disadvantaged households. We also find that characteristics across multiple domains are needed to best distinguish household grant receipt. We discuss theoretical implications for models of grant receipt and practical implications for improving grant access.     

中国工业企业的增长动能、配置效率与经济利润

传统宏观经济增长的分解框架仅仅关注微观的技术进步效应和资源配置效应，无法识别要素层面的这两种效应以及两种要素的经济利润。为此，文章借助一个新的基于要素层面的全要素生产率增长分解框架，采用1998-2007年中国工业企业数据，对中国工业企业的增长动能、配置效率以及经济利润进行了分析。研究发现：（1）中国工业企业的生产率增长是其产出增长的主要推动力量，这个结论在不同所有制、不同产业以及不同地区均适用。中国工业企业正逐渐由劳动密集型向资本密集型和技术密集型转移。（2）企业自身技术进步对全要素生产率增长的增进效应贡献最大，企业之间的资源配置效率显著抑制了全要素生产率的提升，从抑制效应大小来看，其抑制作用抵消了企业技术进步的绝大部分。具体到资源配置效率程度大小来看，行业内部企业之间的资本配置效率年均恶化程度至少是劳动配置效率的两倍，而行业之间的资源配置效率对全要素生产率的影响微弱。（3）就要素获取的经济利润份额来看，资本占优，高达3.2%，资本利润是劳动利润的至少四倍，劳动利润的上升极为有限。民营企业、技术密集型企业以及中东部地区企业获取了更大的资本利润，而外资获得了更多的劳动利润，体现了外资进入中国的战略取向。东部获得了更多的利润说明其反哺中西部地区的必要性。