The macroeconomy and microfinance outreach: a panel data analysis

This study examines the effects of macroeconomic and institutional factors on microfinance institution (MFI) outreach. To capture the performance of the macroeconomy, we include proxies for institutional quality, economic growth, FDI inflow, unemployment rate, inflation and the prevalence of wage-earning jobs. Further, we examine effects on outreach along the dimensions of outreach depth and outreach breadth. Using data on 1526 MFIs from 99 countries over the period 2000 to 2015, our results suggest that environments characterised by high levels of economic performance and good institutions tend to hinder outreach performance. These results suggest that MFIs depend on a poor economy to thrive given the informal nature of microfinance.     

The Trade-Off between Quantity and Quality in Family Fertility Decision: Evidence from China's Family Planning Policy

Based on the Chinese General Social Survey 2006 and 2008 data, this paper assesses the influence of the family planning policy on the qualitative development of children using education attainment and individual income of only children versus children with siblings as parameters. Our results show the following: (1) only children are better-educated than their counterparts with siblings; (2) only children earn higher income in comparison to their counterparts with siblings; (3) the income and education gaps between girls with and without siblings are greater than those between boys; (4) the education gaps between only children and children with siblings are greater for those born in the 1970s, but the income difference between only children and children with siblings is only significant for those born in the 1980s; and (5) the income and education gaps between only children and children with siblings are higher in urban regions. Results indicate that families with only one child invest more resources in children’s quality under the family planning policy, which is consistent with the “quantity–quality trade-off” theory proposed by Gary Becker.     

The State,Public Policy and Heterodox Economics: An Introduction

While most heterodox economists endorse some amount of policy activism, there is no unified conception of the state and public policy in heterodox economics. To help clarify the similarities and differences within heterodoxy – and between heterodox and mainstream economics – a panel addressing this subject was convened in 2007 at the Annual Meeting of the Association for Institutional Thought. This article introduces the essays prepared for that symposium. They include an examination of the position of Marx and Engels, a clarification of the institutionalist views of Veblen and Commons, an outline of the perspective of Post Keynesian Institutionalism, and an account of some essential contributions of Classical Pragmatism (a major school of thought within the philosophy of science). The collection advances what Robert Heilbroner called “the worldly philosophy” by seeking to understand the role of the state in a world where institutions, defined broadly as social habits, adjust to other institutions.

人口和计划生育利益导向政策研究:回顾与前瞻

人口和计划生育利益导向政策的发展经历了从最初简单的节育手术等节制生育的服务措施,到明确将利益导向政策上升到国家制度层面,再到全面建设和发展利益导向政策体系的几个重要阶段。随着计划生育政策目标由降低生育率向稳定低生育水平、统筹解决人口问题、实现人口长期均衡发展的转变,利益导向方法、手段与措施的不断丰富与拓展,人口和计划生育利益导向政策也面临着人口和计划生育利益导向政策的科学评估、普惠政策与利益导向政策协调机制的建立与完善、人口长期均衡发展背景下计划生育利益导向政策走向的明确等-系列新的研究课题。     

技术引进与外资利用：促进科技产业发展的战略与政策

本文首先通过对我国外资利用及国内外经济技术竞争的分析．作出基本的判断，在对国内外结构性调整及政策性因素的影响进行讨论后，从宏观发展视角．对我国利用外资中引进技术存在的体制、政策等作出分析；最后，根据跨国企业直接投资将成为未来我国外资主要构成的预期．提出着眼于长远发展利益的我国引进技术和利用外资的战略与政策。     

Economic Valuation of Health for Environmental Policy: Comparing Alternative Approaches. Introduction and Overview

Protecting human health is a primary goal of environmental policy and economic evaluation of health can help policy-makers judge the relative worth of alternative actions. Economists use two distinct approaches in normatively evaluating health. Whereas environmental economists use benefit-cost analysis supported by monetary valuation in terms of willingness-to-pay, health economists evaluate interventions based on cost-effectiveness or cost-utility analysis (CEA), using quality-adjusted life-years (QALY) or similar indexes. This paper provides background on the controversy about the relative merits of these approaches and introduces the remaining papers in the special issue. These papers (with one exception) were presented at a conference sponsored by the Department of Economics at the University of Central Florida with support from the US Environmental Protection Agency. Although CEA might not lead to substantially different implications for environmental policy than benefit-cost analysis, and QALY may provide a benefit transfer tool to fill gaps in the morbidity valuation literature, the papers in this issue raise serious concerns about the suitability of QALY-based CEA for environmental regulatory analysis. QALY does not in general appropriately represent individual preferences for health and CEA is neither independent of income distribution nor adequate to assess efficiency.     

经济政策不确定性与家族企业创新 ——融资约束及政府补助视角

家族企业作为社会发展的主要参与者,在促进经济增长方面发挥着不可替代的作用。家族企业若想实现长期发展,必然依靠创新。然而,我国家族企业普遍面临创新投入不足、创新产出效率低下等问题。基于2010—2018年中国上市家族企业数据,分析经济政策不确定性对于家族企业创新是否存在激励作用。结果发现,经济政策不确定性提高,会对家族企业创新研发活动投入与产出产生正向激励作用,促进家族企业创新。从融资约束与政府补助视角,分析两者在上述正向激励作用中的调节作用。结果表明,对于融资约束小以及受到政府补助的家族企业而言,其受到经济政策不确定性的正向激励作用更显著,有助于其开展创新研发活动。结论不仅验证了经济政策不确定性对于家族企业创新的激励作用,还揭示了融资约束以及政府补助的调节作用,可为政府制定相应补助政策,构建完善的金融市场提供理论支持和经验证据。     

创新政策组合：研究述评与未来展望

创新政策组合是当前政策研究领域的热点问题,已经得到越来越多学者的关注。通过梳理国内外创新政策组合相关研究文献,阐述政策组合概念起源和内涵,对政策组合文献的发文数量、重要文献等进行统计和分析。在此基础上,进一步厘清创新政策组合的发展脉络及理论框架,并从政策组合的维度、要素、过程和特征4个方面分析创新政策组合研究现状。最后,针对现有研究不足,提出未来研究方向,为进一步拓展该领域研究提供理论基础和知识储备。     

Explorations - Introduction: Towards Lesbian,Gay, and Bisexual Perspectives in Economics: Why and How They May Make a Difference

The economics profession has only recently begun to include research on lesbians and gay men, but we argue that a lesbian economics has long existed, with documentation of anti-lesbian discrimination, discussion of its private and social costs, and practical work for change. This tradition, along with the newer traditions built upon work with gay men and bisexual people, provides a basis for feminists to expand work in economics on lesbian and gay issues. The articles in the symposium propose ideas for future research, for learning from other disciplines, and for creating a more welcoming academic climate.     

物价稳定与房价：货币政策视角

住房价格变化是货币政策需要关注的重要指标。本文在梳理现有文献的基础上,研究了物价稳定与房价变动的关系,发现房价是物价变动的重要原因,而M1和贷款利率是房价变动的格兰杰原因。通过进一步建立结构性VAR模型,我们发现房价受到贷款利率影响最大,而物价受到货币供应量的影响最大。针对房价与物价变动的三个场景可以采取不同的货币政策操作：1、房价过快增长,物价保持稳定。此时为了避免房价对未来物价的冲击,又不影响到当前物价的稳定,可以提高贷款利率,并保持相对宽松的货币供给以对冲房价下跌对物价的不利影响,达到抑制房价而不影响物价的效果。2、房价和物价双双过快增长。此时,应调整贷款利率、准备金率和货币供应量,三管齐下加以治理。3、物价过快增长,而房价较为稳定。为了避免打压房价,可以不调整贷款利率、准备金率,仅控制货币供应量。     

机构投资者、现金股利政策与股票市场稳定性研究——来自2005—2009年中国A股上市公司的经验证据

论文基于2005—2009年中国A股上市公司年报数据的实证研究发现,当投资于发放现金股利的公司股票时,机构投资者持股比例与上市公司股票换手率、股票收益波动率、股价同步性等反映和衡量股票市场稳定性的三个渐次递进维度的指标都显著负相关;而当投资于不发放现金股利的公司股票时,机构投资者持股比例与衡量股票市场稳定性的指标显著正相关抑或不具有显著影响关系。这些结果表明上市公司的现金股利政策直接影响着机构投资者是选择长期的价值投资行为还是进行短期频繁的投机炒作,进而影响机构投资者稳定股票市场功能的有效发挥。论文的研究结论对于股票全流通时代发展机构投资者、引导投资者的长期价值投资行为以促进中国资本市场的健康稳定发展具有重要的启示和政策意义。     

Trade Policy and Natural Resource Use: The Case for a Quantitative Restriction

This paper presents a simple way for countries to reap the benefits of trade liberalization without exacerbating problems of overexploitation of natural resources. In the context of a Ricardo–Viner dynamic trade model, it is shown that when a binding quantitative restriction regulates extraction of a natural resource, free trade is optimal. This is true even if the quantitative restriction is not optimal. In contrast, in the presence of a suboptimal tax (including a zero tax in the special case of open access) on the use of natural resources, trade liberalization is not necessarily welfare improving.     

Adopting a Unit Pricing System for Municipal Solid Waste: Policy and Socio-Economic Determinants

Concerns about the environmental and aesthetic damages of municipal solid waste pollution have triggered policy reform at all levels of government. As part of this effort, public officials are integrating market-based policy instruments such as unit pricing into their solid waste plans. Despite the economic advantages of unit pricing, constituency response has been mixed and hence adoption rates have been below expectations. If the associated gains are to be realized, public officials must identify the key factors that influence this decision. To that end, this research empirically estimates the determinants of unit pricing adoption at the community level of analysis. Based on data for all cities and towns in Massachusetts, the results indicate that demographics, socio-economic attributes, fiscal capacity, and policy instruments influence this decision.     

家成业就：家庭支持型主管行为对科技型员工个体繁荣的影响机制研究

基于资源—获取—发展理论和资源保存理论,以567名科技型企业员工问卷调查数据为基础,探讨在中华民族传统的“家成业就”观念下家庭支持型主管行为(FSSB)对个体繁荣的影响机制。研究结果表明：FSSB正向作用于员工个体繁荣;工作—家庭增益(WFE)在FSSB对个体繁荣的影响中发挥中介作用;工作繁荣在FSSB对个体繁荣的影响中发挥中介作用;当模型同时引入WFE和工作繁荣时,二者具有链式中介效应,即FSSB通过促进员工的WFE进一步促使员工实现工作繁荣,进而帮助员工实现个体繁荣。这一结果揭示了FSSB对科技型企业员工实现个体繁荣的作用机制“黑箱”,进一步拓展了FSSB的作用范围。     

Rethinking Work and Income Maintenance Policy: Promoting Gender Equality Through a Citizens' Basic Income

A citizens' basic income scheme is based on the principles of individuality, universality, and unconditionality; when combined with the notion of meeting "basic needs" it would serve to provide a minimum income guarantee for all adult members of society. However, implementation would entail radical reform of existing patterns of welfare delivery and would bring into question the institutionalized relationship between work and welfare, a basic premise of modern welfare states. To date, the debate over a citizens' basic income has emphasized its effects on labor markets, thereby displaying an androcentric bias. Although the role of women in society is central to social policy reform, the existing basic income literature is disturbingly void of any comprehensive treatment of women. No genuine discussion has taken place about the nature of women's lives and work and how these should be valued. Social policy reform should take account of all gender inequalities and not just those relating to the traditional labor market. This paper argues that the citizens' basic income model can be a tool for promoting gender-neutral social citizenship rights, but that any future marriage of justice and efficiency must first divorce work from income.     

Japan's New Foreign Economic Policy: A Shift Toward a Strategic and Activist Model?*

This article analyzes key departures in Japanese foreign economic policy: the development of an extensive network of free trade agreements thereby abandoning the exclusive focus on the multilateral system as the vehicle for trade liberalization, and the revamping of the official development assistance (ODA) program by slashing its budget, emphasizing national interests in aid giving, and phasing out yen loans to China. We argue that the remarkable degree of policy activism in both trade and ODA represents the Japanese government's attempt to respond strategically to common challenges: domestically the economic recession, internationally the pressure for policy convergence and competition with China. However, in both issue areas the ability of the government to embark on swift policy changes has been compromised by domestic politics: opposition from vested interests and politicization of policy‐making, bureaucratic sectionalism, and weak executive leadership. We conclude with some policy recommendations to improve the coherence of foreign economic policy formulation in Japan.     

空间视角下绿色技术创新动力解构：政策推进与市场拉动

绿色技术创新被认为是解决生态环境问题、实现经济社会可持续发展的有效途径。为促进区域绿色技术创新水平提升和协调发展,选取1997—2019年中国内地30个省份面板数据,采用动态空间面板模型实证检验环境政策、市场因素及其空间溢出效应对区域绿色技术创新的影响。研究发现：①环境政策与本地区绿色技术创新存在U型作用关系,并通过示范—模仿机制对周边地区产生正向溢出效应;②市场因素对本地区绿色技术创新具有显著促进作用,并呈现“涟漪效应”;③环境政策和市场因素对绿色技术创新的影响存在时空异质性特征,创新投入发挥部分中介作用。据此,提出制定合理的环境政策、激发绿色技术市场活力、实行差异化绿色创新驱动政策等建议。     

Accounting for Income-Contingent Loans as a Policy Hybrid: Politics of Discretion and Discipline in Financialising Welfare States

Income-contingent loans (ICLs) are becoming widely adopted across higher education sectors internationally, and increasingly proposed for other policy domains. This article explores why this policy form has gained such wide popularity in the context of fiscal austerity and greater financialisation of social policy. It argues ICLs act as a policy hybrid, combining elements of a tax and a loan. The article traces the development of ICLs in their original and most developed context, Australia’s university sector. We connect the development of ICLs to changes in modes of state accounting associated with the application of private sector accounting techniques. These changes reflect financialisation inside the state, producing contradictory political dynamics. Drawing on Streeck’s conception of a shift from the ‘tax state’ to the ‘debt state’, we argue the hybrid construction of ICLs creates political tendencies in both directions, facilitating greater state discretion while also implementing market discipline. Alongside these contradictory state imperatives we highlight continued partisanship, pointing to new and ongoing forms of distributive politics. To the extent that accounting technologies allow the state to act as a special kind of creditor, we ask whether financialisation may also involve the emergence of an ‘asset state’.     

促进区域协调发展的战略抉择与政策重构

促进区域协调发展是实现全体人民共同富裕的重要途径。近年来,中国区域协调发展取得了显著成效,区域协调发展水平和质量明显提升,但比较而言,目前中国区域发展差距仍然较大,区域发展不协调呈现新的特征和表现形式。从空间角度看,全体人民共同富裕就是城乡区域都要富裕,也即全域共富。在新形势下,应面向中国式现代化和全体人民共同富裕,将区域高质量协调发展作为主基调,加大区域协调发展的战略统筹力度,寻求面向全域共富的战略新举措。要按照政策精细化、措施精准化的要求,重构国家区域政策的基本框架,研究制定欠发达地区发展政策,构建全国统一规范、分类管理的区域政策体系。