Basic conditions study to accelerate the realization of transformation of Shaanxi＇s economy growth mode

It is an urgent and important economic work in the moment and the next period for China to realize the transformation of economic growth mode. Relatively, there must be certain basic conditions. This article makes elaboration of the basic conditions, which accelerate the change of Shaanxi＇s economic growth mode from government angle, and proposes countermeasures for it, according to Shaanxi＇s situation and the requirement of scientific development concept, in order to provide basis for the government＇s economic growth transformation.     

The obstacles of China＇s economic transformation

In the past 30 years, China has gone from the transformation from a planned economy to a market economy, from the extensive economic growth mode to intensive economic growth model, and from relying on investment and export-led economy to relying on domestic demand and stimulating economic. China＇s economic transformation includes three parts： The first is the reform of economic system, the second is the change in the pattern of economic growth and the third is the adjustment of economic structure. This article describes the historical evolution and the reality of China＇s economic transformation, analysis the obstacles to China＇s economic transformation, and on this basis, put forward some suggestions.     

Reforms on China＇s Fiscal System and Its Impact on Local Government Behavior

The fiscal system is an important part of national economic management and deals with the division of financial responsibility and power, regulates and defines the fiscal activities among different levels of governments. The changes in economic system and economic structure decide the changes of fiscal function and fiscal structure, which results in the changes in intergovernmental distribution form and local government behavior. This paper takes a look at the stages of China＇s fiscal reform process and the impacts on local government behavior, and tries to find measures for perfecting the fiscal system reform to optimize local government behavior and guarantee a healthy national economy.     

On the Fundamentals of a Successful Reform for National Prosperity--An Economic Analysis Based on the Practice of China＇s Reform

This paper discusses the fundamentals required for successful reform, i.e., the necessary institutional changes required to make a nation grow sustainably wealthier. It argues that enriching the people is a prerequisite for a prosperous nation and further reveals the inherent logic behind the statement ＂in order to enrich the people, they must be given private rights, and in order to protect the people＇s private rights, public power must be limited.＂ Based on this argument, we examine and analyze the experience of China＇s reform over the past 30 years and come to the conclusion that it is necessary to transform government functions and further deepen market-oriented reform. We hold that China＇s economic performance bears no special or exceptional economic law, and there does not exist the so-called ＂China Model＂ characterized by government taking the leading role as a relatively mature, stable, and widely applicable development model, but that there does exist a Chinese development path or experience featuring the inherent logic of ＂prospering the nation through enriching its people＂ that can be employed by countries all over the world.     

Function and Role of China＇s Securities Market

The article discusses the determinant factor of the function of the securities market at first and then proposes that the basic factor is the inherent need of social economic operation and development process itself. In addition, the primary factor of mature securities market is perfect and integrated function of the securities market. Afterwards, the article analyses the static and dynamic function of the securities market. At last, it probes into the government role in the securities market briefly and proposes that China needs to carry out the essential change on government role, market function location, development goal and the mode of securities market if the function of China＇s securities market is to be exerted properly.     

Effect of total resource allocation effect and economic growth：Chinese experience of 1978-2004

The analytical method of total resource reallocation effect is an evolution of the analytical method of the factors of economic growth. Since the marketization reform in China in 1978, market mechanism has played a more and more important role in resource allocation, and Chinese economy has developed greatly, which is called ＂the Chinese Miracle＂. This paper analyzes the economic growth in China from 1978 to 2004 with the analytical method of total resource reallocation effect. The result shows that the annual growth rate of total resource reallocation effect was 0.2%, which was 5.1% of the comprehensive productivity and 0.21% of the gross output growth, i.e. the total resource allocation played a weak role in the economic growth in China. When analyzing it in Chenery＇s multinational model, we find that Chinese comprehensive productivity growth rate was higher than that in all the income phases of the model, but the total resource allocation effect was obviously lower than that in all the income phases of the model. It indicates that the total resource allocation in China has a great potential, and that to accelerate marketization reform is one of the important issues for Chinese economic development.     

The Monetary Reform of Hong Kong and Its Enlightenment for Mainland China

The monetary system of Hong Kong has experienced several reforms, now it can effectively control the money supply and restrain inflation. The reform of monetary system is very meaningful for mainland China, as mainland China also wants to restrain inflation. The focus of this article is to analyze the process of monetary system＇s reform of Hong Kong, and the development of money supply system. The conclusion is that central bank of mainland China should learn from Hong Kong＇s experience and carry out more reasonable monetary reform.     

Empirical Examination of the Effects of Competition and Regulation on Public Universities and Colleges＇ Performance in China

Competition and regulation are indispensable entities for a university＇s improved performance. Using university rating as an index to performance, empirical analyses with the data from 145 public universities and colleges in China show that increased competition in the education service market is associated with higher university＇s （college＇s） performance. And increased competition in R＆D may make a quadratic effect on university＇s （college＇s） performance. University＇s performance improves when a university is directed as a branch of the central government because they enjoy some degree of management flexibility more than the local government controlled ones. A major implication of the study is the need to reform competition and regulation for improving universities and colleges＇ operating performance in China.     

The Way of the Social and Economic Development of China An Attempt of Historical and Synthetic Representation

The issue of social and economic development is an important part of theoretical and empirical research of the contemporary economy. China is an example of an economy which in a short period of time achieved success within this scope. Therefore it seems to be justified to draw the reader＇s attention to the factors and determinants which may be regarded as the key ones for the economy of China, both in the period of 1949-1978, namely, in the period of real socialism, and in the period after 1978, so-called ＂socialist market economy＂ to date. On the basis of an analysis of Polish and foreign reference sources and source materials, the author tried to trace both similarities and differences in China＇s economic development over those two periods, first of all paying attention to the Chinese authorities＇ pragmatism of governing in the other period, accompanied by limiting ideological influences. Maintaining the socialist system, in that period China worked out its own, specific principles, and rules of internal activities and activities in the international arena, which enabled to it the creation of a model, especially for developing countries, the system of economic planning and programming, its constant modernization during the implementation of economic tasks, with the consideration given to changing conditionings in the world economy. It was pointed out that with maintaining the laboriousness of the Chinese and their loyalty to authority, they make up China＇s economic power. The aim of the article is to pay special attention to the circumstances, phenomena, conditionings, and factors which occurred on the way to the social and economic development of China, which enabled it to achieve the economic success in a relatively short period of time. This success can be expressed by such indicators as for instance the poverty rate, the unemployment rate, gross domestic product, the value of export, and the value of foreign direct investment as well as other factors.     

The effects of local govemment investment on economic growth and employment： evidence from transitional China

Based on the panel data of 28 provinces in the year of 1987-2001, this paper examines the effects of the local government investment on economic growth and employment. The empirical result shows that the local government investment plays a significant positive role in economic growth and employment. However, while the proportion of local government investment to GDP had a remarkable rise after 1998, the elasticity of local government investment on economic growth declined, which shows that there is a big room for raising the efficiency of local government investment. Moreover. the empirieal examination shows that although local government investment had positive effect on employment, the elasticity had a decrease after 1994 when the tax-sharing system reform was put into practice. This shows that the positive role of local government investment on employment is also limited This paper argues that the role of local governments as investors must be weakened, and local governments of different levels should lessen direct economic intervention and concentrate on public regulation.     

Energy efficiency and economic growth of China： 1953-2006

Energy plays an important role in the economic life. With the rapid development of economy, the constraint of energy on the sustainable development of economy is becoming more and more obvious. This paper just Studies the factors influencing energy efficiency of China and the relationship between energy efficiency and China＇s economic： growth. By using time series multivariable linear regression methods with China＇s relevant data from 1953 to 2006, this paper constructs the regression model to analyze the factors that would impact energy, efficiency. After that, a regression model of China＇s real output to capital, labor and energy e lficiency is conducted to estimate the marginal contribution of every factor to the real output to prove the fundamental influence of energy efficiency to the economic growth. In the end, some policies and recommendations are also put forward in order to improve the energy efficiency; of China.     

Comparative Study on Venture Capital among U.S.A., Japan and China

This essay, through comparing venture capital in China＇s modernization with U.S.A., Japan, summarizes the different characteristics of venture capital of the United States and Japan, and thinks that China＇s present modernization, as a flag of developing countries, has already entered middle period of industrialization, according to the experience of U.S.A., Japan and reality of China. The technological progress mode has already been changed from technology import to technological innovation stage at this time. In order to encourage innovations, we must develop venture capital in a more effective manner. The national conditions have determined the technology import of China, which must start with a high points, this is the most important condition of target to choose. The venture capital of China in system transitional period should use U.S.A.＇s experience for reference even more on the capital source to pay close attention to the capital sources of the government and bank. Once the government guides and starts the market, the folk capital will show the natural instinct of the capital automatically Risk investment is the embodiment capitalized personality spirit, in order to dispose such ambitious culture. We need the reform of the system as well as dispose risk investor＇s stratum at present.     

The Research on the Interreact act Development of Agricultural Modernization and Internationalization in the Area of Eastern Shandong

With the Chinese reform and opening-up, especially when entering the 90s of the 20th century, the internationalization process of China＇s economy is accelerated constantly, and at the same time the modernization of China＇s agriculture is also accelerated constantly. It makes China＇s agriculture modernization under the background of internationalization. Therefore, the integration of China＇s agricultural modernization and internationalization becomes an inevitable choice in developing China＇s modem agriculture. This paper takes the practice of agricultural modernization and internationalization in the area of eastern Shandong province as a basis and uses Panel Data model to analyze the interact relationship between agricultural modernization and internationalization quantificationally with the data of the seven cities in the area of eastern Shandong. The result indicates that agricultural modernization and internationalization have the relationship of interact development.     

Market Transition and Income Inequality in Urban China： Evidence from Shapley Value Decomposition

China＇s market-oriented reform is expected to strengthen the role of the market in allocating resources, which raises concerns over the impact of market transformation on income distribution and earnings inequality in the past decades. This paper decomposes the sources of inequality based on the newly developed Shapley value approach and examines the contributions of the market, along with other nonmarket factors, to total inequality. Using the China Health and Nutrition Survey data over the period 1989-2009, we find that the income gap between laborers with a higher level of education and those with a lower level has widened since the transformational reforms of the economy. Our results suggest that the largest contribution of changes in income inequality can be attributed to the increase in returns to education, while the relative contributions of the household registration （hukou） system, type of sector ownership, geographic location, and gender to inequality experienced a downward trend between 1989 and 2009. The authors argue that rising income inequality is the consequence of efficiency improvements and an imperfect economic system, and that the market is a decisive force in economic development as it releases competitive signals and creates incentive mechanisms for innovation. Creating a more efficient labor market and increasing investment in human capital, particularly equalizing educational opportunities and improving the quality of education in lagging rural and inland regions to disadvantaged groups, are significant for an equitable distribution of income and sustainable development in the long run.     

Resource constraint,sustainable economic growth pattern and transformation of economic system in China

Over the past 20 years, China has made spectacular achievements in economic growth as well as in thetransformation of economic growth pattern. Industrial structure is being updated, and technology is playing a more andmore important role in economic development. The energy and resource consumption in many industries and enterprisesare reducing. However, we should realize that there are still many problems in changing the economic growth pattern,such as high input, high consumption, high discharge, inharmony, recycling difficulty, and low efficiency, which havegreatly impaired and restrict Chinese economic development. Therefore, the fundamental change of the economic growthpattern is inevitable. Based on the analysis on the status quo and the exploit of resources, this paper suggests that thetransformation from unsustainable to sustainable growth is the only choice in changing the economic growth pattern. Inaddition, the transformation should not completely rely on the fundamental effects of market mechanism. We should makefull use of the power of governments to speed up the transformation of economic system.     

金融中介发展与中国宏观经济波动实证分析

This article analyzes the relationship between financial intermediary development and economic fluctuation in the last 50 years in China. It was found that a steady and long-term relation existed between these two variables, and that different aspects of the development of the financial intermediary system had different effects on the economic fluctuation. The improvement of the intermediary＇s efficiency can repress the economic fluctuation , but the increase of financial intermediaries can intensify the fluctuation. On that basis, some suggestions about the development of the financial intermediary are proposed in this essay.     

Rural community tourism in western Sichuan＇s Qiang nationality： a case study of Wulong Stockade

The importance of the local economy of the development of tourism resources in China＇s relatively underdeveloped minority areas is already common knowledge in academic and business circles. However it＇s necessary to research more on specific patterns of tourism development in these ethnic minority areas. This paper studies Wulong Stockade in Beichuan County in Sichuan Province and examines the distinctive experience of the local Qiang community about developing local tourism resources and the local funding of the development. It notes how the introduction of new re-afforestation laws of 1999 affected the traditional, agriculture-based economy and how a member of the communio： was a key motivator in initiating tourism as a new economic resource. It has also explored changes in the economic conditions of Qiang peasants since tourism began in Wulong Stockade, where local incomes have increased considerably. This paper focuses on a characteristic Qiang area in the mountains of western Sichuan, demonstrates the necessity and feasibility of community tourism development, and uggests that other ethnic minority mountain villages in rural areas draw lessons from Wulong Stockade＇s experience.     

Research on low-carbon development of electric power industry: from the perspectives of public policy

It is a fundamental way to achieve sustainable development and inclusive growth that China takes the low-carbon development path.And low-carbon development is an effective way to respond to many threats,including global climate anomalies,environmental degradation,and energy shortage.Low-carbon economy is policy economy to a large extent.Although the external environment demands low-carbon development of electric power industry,enterprises lack intrinsic motivation.Electric power industry is the pillar industry of China,and is one of the key industries for China＇s low-carbon development.The government needs to ensure its dominant position in the low-carbon development of electric power industry,and reform the government performance management system and promote the planning and management of electric power industry through appropriate public policy,in order to adjust the structure of the electric power industry and take a low-carbon development road with Chinese characteristics.     

Managing wetlands: an ecological economic analysis of the Hong Kong Wetland Park

This paper addresses the question of whether the Hang Kong government made a rational economic decision when it decided to set aside land to develop a Wetland Park, or whether it should have used the land for alternative commercial developments. Different analytical methods are used to estimate the economic value of the environmental benefits of the Wetland Park： the Value Transfer Method is used to estimate the economic value oJ the ecological services provided by the Park. the Direct Market Price analysis for the economic value of the goods purchased in the Wetland Park, the Hedonic Housing Price Analysis for the value of the Park to those residing in its proximity, the Travel Cost and Contingent Valuation Method for the value of the Park to the visitors, and the Contingent Valuation for the Passive （Nonuse） Values of the Park. These benefits are compared to the opportunity cost of the land and the cost of running the Wetland Park. The article concludes that if a rate of 5% or less is used to discount fiture costs and benefits, we would find that the government＇s decision to set aside land for a Wetland Park was economically sound while using a discount rate of 6% or more shows that it was not.     

Experiences and Prospects of China＇s Free Economic Zones after over 20 Years

Chinese FEZs are used as the tool for opening-up policy and the structural reform as well as the growth pole for the regional economic development. It is true that no Free Economic Zones （FEZs） in the world like in China have made so strong impact on national economic development and structural reform. Due to the change of their existing condition since the middle of 1990s, Chinese FEZs have to face the new challenges and problems. This study discusses and prospects the transformation and further development of Chinese FEZs in the 21^st century as well as their significance for the transformation of FEZs in other countries based on the analysis of the indicators such as the role, policy, industrial sectors, administration, development model, spatial structure and location.