北京市人均GDP的时间序列分析及预测

人均GDP是具有重要经济意义的指标,它的增长具有一定的内在规律性,文章建立了北京市人均GDP的时间序列模型,分析研究了模型的稳定性和可外推性,预测了2005年～2010年北京市人均GDP的发展水平,说明北京市人均GDP具有一定的时间趋势。     

Openness,growth convergence and China’s development prospects

ABSTRACT

This paper examines China’s long-term growth prospects and the potential drivers of future growth, based on cross-country productivity convergence and China’s featured demographic evolution. In a nonlinear open economy catch-up growth model, per capital GDP growth of the followers depend on that of the leading economy and time varying convergence of the relative per capita GDP. Comparable open economies of China are identified in terms of relative per capita GDP and the historical data of which are used to project China’s trajectory of productivity convergence and then the growth of per capita GDP. Projection shows China’s future GDP growth will gradually descend from 6.6–6.7% (2016–2020) to 2.6–2.7% (2046–2050) in low variant. Predictions under medium and high variants are provided as well. The importance of further opening-up domestic markets, elimination of birth control policies and accumulation of human capital in the process of promoting urbanization are highlighted and have significant implications for the economic restructuring and transformation of China.

Abbreviations: ICRG: International Country Risk Guide; IMF: International Monetary Fund     

FDI对我国创业型经济发展的效应分析

运用面板门限模型验证了FDI对我国创业型经济影响的门限特征。结果显示,在全国范围内,区域人均GDP发展水平的变化会使FDI对创业型经济的影响表现出门限特性,即当区域人均GDP低于FDI发挥积极作用的门限时,FDI将会对创业型经济产生负面影响;而当区域人均GDP超过该门限后,FDI对创业型经济的发展将发挥越来越大的促进作用。     

Questioning the empirical basis of the environmental Kuznets curve for CO2: New evidence from a panel stationarity test robust to multiple breaks and cross-dependence

This paper investigates the time series properties of per capita CO₂ emissions and per capita GDP levels for a sample of 86 countries over the period 1960-2000. For that purpose, we employ a state-of-the-art panel stationarity test which incorporates multiple shifts in level and slope, thereby controlling for cross-sectional dependence through bootstrap methods. Our analysis renders clear-cut evidence that per capita GDP levels are nonstationary for the world as a whole while per capita CO₂ is found to be regime-wise trend stationary. The analysis of country-groups shows that for Africa and Asia, per capita CO₂ is best described as nonstationary, while per capita GDP appears stationary around a broken trend. In addition, we find evidence of regime-wise trend stationarity in both variables for the country-groups consisting of America, Europe and Oceania. The results of our analysis carry important implications for the statistical modelling of the Environmental Kuznets curve for CO₂, since the differing order of integration in both variables for the world as a whole and for Africa and Asia calls into question the validity of panel cointegration techniques which assume that both variables are nonstationary and cointegrated with one another. Cointegration techniques would not be appropriate either for the case of America, Europe and Oceania which are characterised by per capita GDP and CO₂ emissions being stationary around a broken trend. Similar conclusions are reached when we analyse country-groups based on levels of development. Failure to properly characterise the time series properties of the data by not controlling for an unknown number of structural breaks and for cross-sectional dependence could be responsible for the fragility and lack of robustness surrounding the estimation of environmental Kuznets curves.     

1990—2010年中国人口预期寿命与人均GDP的相关关系及其变化特征

预期寿命是反映人口寿命水平的重要指标,人均GDP是反映经济发展的重要指标。采用相关分析和回归分析对中国1990—2010年市域、县域两个尺度的预期寿命与人均GDP的关系进行分析,结果表明:人均GDP对预期寿命具有显著正向影响,但累积影响强于即时影响;人均GDP超过3000~5000元后,其对预期寿命的影响开始出现边际递减效应;人均GDP对预期寿命的影响强度在空间分布上自东向西增强。由于经济相对发达的东部地区人均GDP对预期寿命的贡献率要小于经济相对落后的西部地区,因此,今后东部地区应通过完善社会保障、优化卫生资源配置、倡导健康生活方式等途径进一步提高预期寿命,西部地区则应大力发展区域经济,努力提高生活水平,以尽快缩小与东部地区预期寿命的差距。     

Chinese economy in the new era

The “new era”, a term introduced by President Xi Jinping, may also be identified as the Xi era, during which China will be transformed from a moderately well‐off to a strong and wealthy nation. In the new era, the Chinese Government will deepen economic reform, widen economic opening and enhance the quality of economic growth. / Our projections show that by 2020, Chinese real GDP per capita, in 2017 prices, will exceed US$10,000, an economic development milestone. By 2031, Chinese real GDP will surpass US real GDP (US$29.4 trillion vs US$29.3 trillion), making China the largest economy in the world. However, Chinese real GDP per capita will still lag behind the US significantly, amounting to only one‐quarter of that of the United States. By 2050, Chinese real GDP will reach US$82.6 trillion, compared to US$51.4 trillion for the United States. However, in terms of real GDP per capita, China will still lag significantly behind, at US$53,000, slightly less than the current level of US real GDP per capita, compared to US$134,000 for the United States.     

COMPARING PER CAPITA INCOME IN THE HELLENISTIC WORLD: THE CASE OF MESOPOTAMIA

Until quite recently, GDP growth between ca. 1 ce and the late Middle Ages was considered non‐existent or even negative. Recently, largely on account of increasing interest in historical national accounting, the late‐medieval figures have been revised upward, in line with an upward adjustment in the estimated shares of manufacturing and pasture. Leaving GDPs dating from the ancient world unaltered would consequently generate figures indicating increased economic growth during the first millennium ce . A considerable number of studies of the late‐medieval period (the object of increasing attention on the part of specialists in early economic history) have caused estimates for the ancient one to be revised upwards, essentially leaving estimates of the changes in economic development over time unaltered. These studies, however, have focused on the Roman Empire and Italia while there is a consensus in the literature that it was quite unrepresentative of all ancient societies with its relatively high share of GDP from the manufacturing sector of the economy. We therefore estimate a new per capita income for another contemporary agrarian society: ancient Mesopotamia. In addition, by examining manufacturing and pasture—the two main reasons for higher income which have been identified in the literature—we have found a tentative explanation for the fact that ancient Mesopotamia's per capita income deviated from that of Rome.     

基于引力模型的内地与香港双边贸易流量研究

内地各省市(自治区)的GDP和人均GDP、香港人均GDP、绝对距离以及泛珠三角区域合作组织等解释变量.是影响双边贸易流量的主要因素,但影响程度各有不同.因此,内地与香港应采取针对性的措施,进一步加强经贸交流和合作,充分发挥各自的区位优势和竞争优势,实现两地经济的共同繁荣.     

International Trade and Growth Miracles: the Implications of Nonhomothetic Preferences

If the rate of saving increases with income then a low per capita level of the capital stock may be self‐sustaining. In these circumstances international trade may allow an economy to quickly increase its per capita capital stock in a self‐reinforcing “growth miracle” process. A labor‐abundant economy trading with a capital‐abundant economy will see its wage rate rise relative to autarky. This rise in the wage rate also increases the savings rate and so raises the following period’s per capita capital stock. In this way a low‐income economy may exhibit large and permanent increases in its level of GDP per capita after opening its markets to international trade.     

GDP Per Capita Versus Median Household Income: What Gives Rise to the Divergence Over Time and how does this Vary Across OECD Countries?

Divergence between the evolution of GDP per capita and the income of a “typical” household as measured in household surveys is giving rise to a range of serious concerns, especially in the USA. This paper investigates the extent of that divergence and the factors that contribute to it across 27 OECD countries, using data from OECD National Accounts and the Luxembourg Income Study. While GDP per capita has risen faster than median household income in most of these countries over the period these data cover, the size of that divergence varied very substantially, with the USA a clear outlier. The paper distinguishes a number of factors contributing to such a divergence, and finds wide variation across countries in the impact of the various factors. Further, both the extent of that divergence and the role of the various contributory factors vary widely over time for most of the countries studied. These findings have serious implications for the monitoring and assessment of changes in household incomes and living standards over time.     

中国跨越中等收入陷阱潜力研究

当前，中国正处在转变发展方式、优化经济结构、转换增长动力的攻关期，国家创新能力不足将导致经济增速停滞或倒退，即陷入中等收入陷阱。为研究跨越陷阱路径，在Keun Lee理论的基础上，通过分析中日韩等国家及地区近30年来在美国专利商标局申请专利的技术循环周期后发现，中国已跨越短技术循环周期拐点，正迈向长技术循环周期，表明中国已具备跨越中等收入陷阱的能力。引入人均GDP、全球创新指数、全要素生产率等指标进一步验证得出一致结论。最后，提出提升和永续保障中国创新能力的建议。     

Productivity,Structural Change and Latin American Development

We calibrate a simple neoclassical growth model adapted to illustrate a process of structural transformation or industrialization to a group of nine South American countries. The paper shows that low levels of agricultural productivity can substantially delay the process of industrialization, which, together with low levels of non‐agricultural productivity observed in recent decades, satisfactorily explains the significant differences in gross domestic product (GDP) per capita levels among the countries in our sample. The results suggest that Argentina underwent the process of industrialization first followed by Uruguay, Chile, Brazil, Colombia, Ecuador, Peru, Paraguay and Bolivia. The model predicts that the ranking of these countries in terms of GDP per capita would follow this order until convergence occurs. The empirical evidence confirms the prediction of the model with the exceptions of Uruguay and Chile which caught up with Argentina in terms of GDP per capita levels in the late 1980s.     

The impact of the credit crisis on poor developing countries: Growth,worker remittances,accumulation and migration

We show that the credit crisis of OECD countries has a negative impact on the growth of the world economy according to an error-correction model including China and Australia. This causes negative growth effects in poor developing countries. The reduced growth has a direct or indirect impact on the convergence issue, aid, remittances, labour force growth, investment and savings, net foreign debt, migration, tax revenues, public expenditure on education and literacy. We estimate dynamic equations of all these variables using dynamic panel data methods for a panel of countries with per capita income below $1200 (2000). The estimated equations are then integrated to a dynamic system of thirteen equations for thirteen variables that allows for highly non-linear baseline simulations for these open economies. Then we analyze the effects of transitional shocks as predicted by the international organizations for the OECD and world growth for 2008 and 2009. Whereas growth rates return to the baseline scenario until 2013 with overshooting for China and Australia, the level of the GDP per capita shows permanent effects, which are positive only for China. In the poor countries, investment, remittances, savings, tax revenues, public expenditure on education, all as a share of GDP as well as literacy and the GDP per capita, are reduced compared to the baseline until 2087 where our analysis ends. Investment, emigration and labour force growth start returning to baseline values between 2013 and 2017. GDP per capita and tax revenues start returning to baseline around 2040. Education variables do not return to baseline without additional effort.     

Do the global stochastic trends drive the real house prices in OECD countries?

This paper demonstrates that in the long-run the main determinants of the real housing prices for a panel dataset comprising the quarterly observations of 12 OECD countries are the real GDP per capita and the real interest rate along with the global stochastic trends.     

Explaining Differences in Economic Growth among OECD Countries

This paper re-examines the determinants of growth of GDP per capita using panel data for OECD countries for the period 1970–1999 with data averaged over five-year periods from new perspectives. First, we introduce indicators of innovation input and technological specialization simultaneously into the empirical growth equation. Second, we employ the system-GMM (Generalized-Method-of-Moments) panel estimator that controls for (a) the possible specification bias when variables are highly persistent over time and (b) the possible simultaneity bias. We find a large and statistically significant impact of business enterprise R&D (BERD) intensity on GDP per capita with an elasticity of 0.22. The share of high-technology exports is also significantly positively related to GDP per capita, but the magnitude suggests that BERD is more important than technological specialization in explaining the level of GDP per capita. Furthermore, we find that the budget deficit and government consumption (both measured as percentages of GDP) and the volatility of growth are significantly negatively related to GDP per capita.The authors would like to thank Gunther Tichy for helpful comments on an earlier draft of this article. We also thank the participants of the Austrian economic association conference (NOEG) and the Empirical Industrial Organization workshop at the WU WIEN for helpful comments. We gratefully acknowledge financial support from the OeNB Jubiläumsfonds Project and the Austrian Federal Ministry for Economy and Labor (BMWA).JEL codes: E62, H20, H50, O23, O40     

The effects of economic freedom,regulatory quality and taxation on the level of per capita real income: a preliminary analysis for OECD nations and non-G8 OECD nations

This study of the impact of economic freedom, regulatory quality and the relative burden of taxation on the level of per capita real income/GDP among OECD nations over the period 2003 to 2007 adopts a modified version of the overall economic freedom index computed by the Heritage Foundation (2013), one with the fiscal freedom and business freedom indices removed. This study then provides panel least squares fixed-effects estimates for five linear specifications/models. Each nation during this time frame can be regarded either as a nation per se or as a de facto ‘economic region’ within the OECD. The analysis first focuses upon all of the OECD nations and then, as a robustness test, subsequently focuses only on non-G8 OECD member nations. The estimations in this study all provide strong empirical support for the three central hypotheses proffered here, namely: (1) the higher the overall degree of economic freedom, the higher the per capita real income (GDP) level; (2) the higher the level of regulatory quality, the higher the level of per capita real income (GDP) and (3) the higher the overall tax burden, expressed as a per cent of GDP, the lower is the level of per capita real income (GDP).     

Alternative Techniques for Estimation of Cross-Section Gravity Models

This paper compares four different estimators with respect to their suitability for cross‐section gravity model estimation. In many circumstances, a Hausman–Taylor approach can be recommended. This framework may provide consistent parameter estimates, when OLS or the traditional random‐effects model are biased. In contrast to the fixed‐effects approach, it allows to estimate parameters of variables such as GDP or GDP per capita, which vary only in a single dimension. The Hausman–Taylor model deserves attention in the estimation of cross‐sectional gravity models.     

Terms of trade and economic growth in Japan and Korea: an empirical analysis

This study examines the impact of terms of trade and terms of trade volatility on economic growth in Japan and Korea using time series data. The results of the Johansen (1988) cointegration method show that real gross domestic product (GDP) per capita and terms of trade are jointly determined. Generally, an increase in terms of trade volatility will lead to a decrease in real GDP per capita. An increase in oil price will lead to a decrease in terms of trade. The results of the generalised forecast error variance decompositions show that the important contributors to real GDP per capita are different between Japan and Korea. A favourable and a less volatile terms of trade are important for economic growth.     

Portugal–EU Convergence Revisited: Evidence for the Period 1960–2003

This paper uses the stochastic approach to convergence to investigate whether real per capita GDP in Portugal has been converging to the EU15 average. The estimation accounts for conditional convergence, transitional dynamics and up to two structural breaks. It is found that per capita GDP in Portugal has indeed converged to the EU15 average, but the pace of convergence has not been uniform along time. In particular, a slow down in the convergence process is identified in 1974. This result depends, however, as to whether the choice of this break-date is viewed as uncorrelated with the data. No evidence of acceleration in the speed of convergence is found after EC accession, in 1986.An earlier version of this paper was presented at the Fifty-Ninth International Atlantic Economic Conference, London, England, March 9–13, 2005. Helpful suggestions from the conference participants and Luis Catela Nunes are acknowledged. The author expresses his gratitude for the financial support of the Portuguese Foundation for Science and Technology (FCT), under research grant POCI/EGE/55423/2004 (partially funded by FEDER).     

Exploratory spatial data analysis of the distribution of regional per capita GDP in Yangtze Delta, China: 1994-2004

Based on the spatial economy theory and the exploratory spatial data analysis (ESDA) technology, this paper studies the space-time dynamics of regional per capita GDP in the Yangtze Delta. A sample of 74 regions in the Yangtze Delta over the period of 1994 to 2004 provides clear evidence of global and local spatial autocorrelation as well as spatial heterogeneity in the distribution of regional per capita GDP The dynamism of regions is investigated by exploring the spatial pattern of regional growth, compared with that before 1997, the economic growth disparities among Shanghai, Zhejiang and Jiangsu provinces have decreased, so have the inside regions of Zhejiang Province, while it is opposite to the inside regions of Jiangsu Province.