Immigration,international capital flows,and long run income distribution in Canada

Conclusion This study derives long-run income distributional impacts of immigration and capital flows in a general equilibrium model of Canada. While each factor is its own enemy, results indicate that capital and skilled professional labor are enemies as well. Both of these productive inputs are friends of other labor groups, which are common enemies. Factor friendship patterns are useful in evaluating income distributional impacts of a variety of policies designed to influence the international flow of productive labor and capital.     

The sources of long-term economic growth in Indonesia, 1880-2008

This paper presents new time series estimates of GDP, capital stock and education-adjusted employment, and uses a growth accounting approach to analyze GDP growth during 1880-2008. The growth of capital stock, employment and educational attainment explained almost all of GDP growth. During key growth periods 1900-29 and 1975-97, Total Factor Productivity (TFP) growth was on balance negative. TFP growth was substantial during some sub-periods, particularly 1933-41, 1951-61, 1967-74 and 2000-08. Each followed a major economic downturn that slowed capital stock growth and required a more efficient use of productive resources, supported by changes in economic policy that enhanced productivity and efficiency.     

The new Ricardian specific factor model

This paper explores the implications on trade and wage inequality of introducing financial capital or credit in the standard Ricardian model of production, where a given amount of start-up credit is used to employ sector specific skilled and unskilled workers following the Wage Fund approach of classical economists. Thus, we have the Specific Factor (SF) structure of Jones (1971) in a new Ricardian model (NRM) with credit and two types of labour. With an entirely different mechanism from the conventional Neo-Classical structure, distributional consequences of changes in endowments, commodity prices, and financial capital are established. Comparisons with Jones (1971) show that unlike SF model, credit expansion affects wages and nominal costs without affecting trade patterns, while rise in the relative price of the skill-intensive good causes skilled wage to hike less than proportionately, and may cause return to capital to inflate more than the wages. We extend the basic model to analyse immigration, unemployment and imperfect credit market.     

管理效率与全要素生产率——基于“中国企业-劳动力匹配调查”(CEES)的新证据

基于"中国企业-劳动力匹配调查"（CEES）数据,文章创新性地选择了管理效率这一微观视角,就其对企业全要素生产率的影响效应进行了稳健地实证检验。通过回归发现,对于现阶段的中国企业而言,管理效率基于当前的均值每提升10%,全要素生产率将提高1.72%~2.92%,管理效率对企业全要素生产率的增长具有显著的促进作用。在此基础上,文章进一步就管理效率对全要素生产率的影响机制展开了进一步验证,分析发现：管理效率可以通过企业自动化、信息化和开放性程度的提升显著促进全要素生产率的增长。因此,文章建议企业在加强管理的同时,也应配合对相应的机器设备和交流环境进行优化,以实现企业的高效和持续发展。     

福建省全要素生产率计算与分析:1952-2005年

文章利用国民统计成果，通过对1952-2005年福建省经济运行数据的整理，并利用经济统计软件对其回归分析得出福建省柯布-道格拉斯（Cobb-Douglas）生产函数，并利用索洛余值法求出1952-2005年福建省全要素生产率的增长率及其指数。对福建省经济增长源泉进行了定量分析，探讨了资本因素、劳动力因素和广义的技术进步对经济增长的贡献，发现在改革开放前全要素生产率波动很大，20世纪80年代以后全要素生产率有了明显的提高并趋于稳定。同时指出福建省经济增长属于资本和技术双推动型。     

我国服务贸易进口的技术效应分析

文章基于DEA的Malmquist指数方法将全要素生产率（TFP）分解为技术进步（TP）和技术效率（TE）,按照要素密集度把服务贸易划分为劳动密集型、资本密集型、技术与知识密集型服务贸易三类,研究了三种要素密集型的服务贸易进口分别对全要素生产率、技术进步和技术效率的影响,结果发现,劳动密集型服务贸易进口对TFP、TP和TE均无显著影响,资本密集型服务贸易进口对TFP有显著影响,但对TP和TE没有显著影响,技术与知识密集型服务贸易进口对TFP、TP和TE均有显著影响。最后,文章在此研究结论的基础上提出了相应的政策建议。     

Total factor productivity, the east Asian miracle, and the world production frontier

Total Factor Productivity, the East Asian Miracle, and the World Production Frontier. — The post WWII growth of the East Asian Tiger states has stimulated the discussion about its determinants. Young and Krugman hold that high capital accumulation rather than gains in efficiency or technological progress has spurred growth. Nelson and Pack, however, have recently criticized the methods of measuring technological progress. Applying the nonparametric approach to frontier production function determination and the Malmquist index of total factor productivity change, the authors take up this criticism. They calculate productivity indicators for a sample of 18 American, Asian, and European countries. For the Tiger states, their results confirm that capital accumulation was the main source of growth in 1960-1973, whereas they find evidence for an increasing importance of efficiency improvements for the growth in 1973-1990.     

Vertical specialization and intra-industry trade: The role of factor endowments

Vertical Specialization and Intra-Industry Trade: The Role of Factor Endowments. — In this paper, we use vertical differentiation models of the Falvey-Kierzkowski type to study the effects of differences in factor endowments on vertical intraindustry specialization. We focus on Spanish intra-industry trade, as Spain typically exports low-quality varieties to the northern countries of the OECD and high-quality varieties to the southern ones. In order to achieve more general results, we consider different types of productive factors: physical, human and technological capital. Our results confirm that factor endowments play a significant role in explaining vertical intra-industry specialization.     

中国创新能力的因子分析及障碍度诊断——基于全球创新指数

通过因子分析的主成分分析法,利用2019年全球创新指数和21个三级指标相关数据,提取出提升国家创新能力的3个关键因子并获得因子权重,在此基础上进行障碍度诊断,得出中国全球创新指数的制约因素.结果表明,制度环境、市场成熟度、人力资本与研究以及基础设施是制约中国创新能力发展的关键指标,应着重从这几个方面提升中国在全球创新指数中的表现,以及实现建设世界科技强国的宏伟目标.     

探索性因子分析与验证性因子分析异同比较

探索性因子分析与验证性因子分析是因子分析的两种形式。它们都是以普通因子模型为理论基础，但两者之间也有区别，如在基本思想、应用前提、理论假设、分析步骤和应用范围等方面均存在较大差异。在管理研究中，使用因子分析时，应将这两种因子分析方法结合起来使用。     

Employment by level of education and production factor substitutability

Summary Several types of elasticities of substitution and complementarity among three labour force aggregates (lower, intermediate, and higher educated) and capital are calculated, based on estimation of demand equations with cross-sectional data by industry groups over two years. Factor substitutability appears to be rather weak. Higher educated labour and capital are complements, as are lower and intermediate educated labour. Employment of unskilled labour is worsened by a reduction of the price of capital. Upgrading the educational level of labour requires the diminishing of the gap between wages of different labour force aggregates; especially the wages of higher educated labour have to decrease.This paper is based on part I.1 of The Elasticity of Substitution between Lower Educated Labour and Other Factors of Production. Research for this paper was supported by OSA (Organization for Labour Market Research). I wish to thank D.P. Broer for numerous and valuable suggestions, J.M.M. Ritzen for the original set-up of sections 2–4 in a preliminary draft and B. van Bunnik for skillful research assistance. I also benefited from comments and suggestions by P.C. Allaart, J.C. Siebrand, O.H. Swank, and a referee.     

Competitiveness of China's Manufacturing Industry and its Impacts on the Neighbouring Countries

This paper investigates the rapid growth of China's share in the international commodity market and the structural changes of China's commodity exports. It demonstrates a significant improvement of international competitiveness in China's manufacturing sector. The panel data analysis, based on a Solow–Swan type growth model on China's 37 manufacturing industries from 1991 to 2002, reveals that the main sources of the strengthened competitiveness of China's manufacturing sector have been mainly from Total Factor Productivity (TFP), while labour productivity has been increasing and capital productivity has been falling. A preliminary empirical analysis on the impacts of China's increasing competitiveness finds that there are negative correlations between China and most of its neighbouring countries, both newly industrialised economies and other Southeast Asian developing economies. However, there is no evidence of negative impacts of China's increasing competitiveness on developed countries such as the United States and Japan.     

绿色科技成果转化效率评价与影响因素分析——以安徽省工业为例

绿色科技成果转化应用是企业实现绿色低碳发展的有效手段。基于2013—2021年安徽省地级市面板数据，利用三阶段数据包络分析模型对工业绿色科技成果转化效率、区域特征与制约因素进行研究。结果显示，安徽省工业绿色科技成果转化效率总体改善，但区域发展较不均衡，靠近省会城市、经济条件较好的地区，其效率值更高。因素分析表明，企业管理水平不足是效率损失的主要原因，外部环境整体促进了效率改善。前者主要是限制规模效应的发挥，后者通过提高企业规模、利润率水平、产学研协作程度和外商直接投资等途径增进效率。     

The Impact of Economic Reform on Productivity Growth in Chinese Industry: A Case of Xiamen Special Economic Zone

China's industrial and trade reforms were expected to stimulate growth in output and welfare by increasing the capacity of industry to absorb surplus factors of production, and by utilizing labour, capital, energy and materials more efficiently. The impact of the special economic zone reform policies on productivity and growth is assessed by studies of China's overall industrial sector performance and case studies in Xiamen and Shanghai Beijing, which is not subject to special policy initiatives, is used as a control. Although there were data limitations, several conclusions may be drawn. An increase in total factor productivity was found to have occurred in Xiamen during the reform period, but the creation of the special economic zone does not appear to have had a significant impact on productivity. Productivity performance in Beijing's state-owned industry was considerably poorer than that of total Xiamen industry, including state, collective and firms jointly owned with foreign investors, and was also lower than the productivity performance of Xiamen's state sector. The productivity performance of Xiamen's joint ventures and collectively owned firms was, however, considerably superior to the state sectors in both cities. Due to data constraints, the analysis of productivity in Shanghai was for a shorter period. Most of Shanghai's state-owned industry did better than the state-owned sector in Beijing but did not perform as well as the non-State sector in Xiamen over this period. Factor productivity in Shanghai industry was stagnant, Beijing's industrial productivity generally declined, but Xiamen's productivity improved considerably over the decade. One of the major strengths of this study is its access to new and more accurate disaggregated price indices to deflate capital investments on an industry by industry basis. Hence, the availability of the new capital stock deflator series should improve the total factor productivity estimates considerably.     

The Application of Factor Analysis to Corporate Bond Rating

Based on the research of Factor Analysis model, this paper studies Factor Analysis to corporate bond rating. By using SPSS12.0 to analyze the operation of corporate bond, a ease study is conducted, and the result is analyzed and its validity is testified. It is concluded that Factor Analysis is a new, simple and convenient method for corporate bond rating.     

Human capital estimates in China: New panel data 1985–2010

We introduce new provincial level panel data on human capital in China from 1985 to 2010. Our estimation of human capital is based on the Jorgenson–Fraumeni lifetime income approach modified to fit the Chinese data, thereby allowing a more comprehensive measurement of human capital than traditional partial measurements, such as education. Our provincial data are adjusted for purchasing power parity via a living-cost index as well as for real values so that all values are comparable across the provinces and time. We discuss various characteristics of the data, including total human capital, per capita human capital, and labor force human capital, which in turn are disaggregated based on gender and urban or rural location. Our human capital estimates are compared with the provincial physical capital estimates and provincial GDP. As an illustration, we also use the data to estimate a production function and to decompose China's economic growth from physical capital, human capital, and TFP. Our results, compared with those that use traditional specifications, reassure us as to the reliability of our new China human capital data.     

HUMAN CAPITAL INEQUALITY AND THE KUZNETS CURVE

This paper develops a Mincerian measure of human capital distribution and applies it to evaluate national and global human capital inequality and compare them with education inequality measures. It is shown that using education inequality as a proxy of human capital inequality is problematic due to the nonmonotonic relationship between them. We find that the inconsistent evidence on education and human capital Kuznets curves in the literature is due to the use of different inequality measures. In particular, human capital Kuznets curves are evident when relative inequality measures are used, whereas education Kuznets curves are found when absolute inequality measures are used. It is also observed that while global education inequality has been declining over the past four decades, global human capital inequality remains largely steady, as the decrease in between‐country human capital inequality is largely balanced by the increase in within‐country human capital inequality.     

浅析中国证券市场多层次发展的逻辑思路

我国资本市场上只有上海和深圳两个交易所,上市公司类型、交易品种都很少,这远不能满足各类企业的融资需求。借鉴国外成熟的资本市场发展经验,结合我国的国情,笔者认为构建多层次的证券市场体系应包括全国性一元化的证券交易所、创业板市场、区域性证券交易市场和产权交易市场四部分。每个市场针对不同的投资者和资金需求者,安排不同的上市标准、运作模式和监管方式,这些子市场相互补充、相互竞争、相互衔接,共同构成完整统一的证券市场体系。     

人力资本边际收益递减、后发优势与经济增长——基于国家间面板数据的实证分析

学术界一般认为人力资本边际收益是递增的。本文利用一般动态模型根据世界银行提供的国别数据的实证分析得出的结论刚好相反:人力资本边际收益是递减的。从长期来看,世界的人力资本边际收益呈递减趋势;从国别比较来看,发展中国家的人力资本边际收益高于发达国家。而且从国家层面来看,人力资本存量与经济增长呈负相关关系:人力资本存量低的国家经济增长较快,而人力资本存量高的国家经济增长较慢。人力资本从穷国流向富国而不是相反,这是因为富国的总量劳动生产率高所带来的高工资所致,这并不意味着富国的人力资本边际收益比穷国更高。     

Crowding out and the rate of return on capital in Japan

It is often argued that a crowding out of capital must be accompanied by a rise in the rate of return on capital and in the interest rate. This paper demonstrates that this does not need to be the case by showing that the hypothesis of a crowding out of capital in Japan during the 1990s is consistent with a fall in the rate of return on capital and in the interest rate. In the model economy constructed in the paper, persistent increases in government debt which crowd out capital also induce a decline in the price of existing capital goods. This decline leads to capital losses. When these capital losses are large enough to offset increases in the marginal product of capital stemming from the fall in the stock of capital, the rate of return on capital will fall. Numerical exercises suggest that the crowding out of capital contributed to the decline in the rate of return of capital observed in Japan during the 1990s.