转型时期制度变迁对我国经济增长影响的实证分析

我国现在进行的改革开放必然会引起制度的变迁,而从经济学理论上讲,制度的变迁又会对经济的发展产生巨大影响。文中制度这一因素引入经济增长模型,并量化测度了制度变迁,并进行实证分析。结果表明,改革开放30多年来我国的制度变迁对经济的增长具有巨大的促进作用。而目前,我国的体制改革尚未完成,仍有较大的制度变迁空间,所以制度创新与变革仍然是我国未来较长一段时期内经济增长的重要动力源泉。     

Is it an institution,digital or social inclusion that matters for inclusive growth? A panel data analysis

This study empirically examines the impact of institutional quality, social inclusion and digital inclusion on inclusive growth across different economies characterized by different income groups. Particularly, the study examines the impact of institutions on inclusive growth by using the panel data for 83 countries over the period 2010–2017. For empirical specification, we used two-steps system-GMM estimation technique to tackle endogeneity and min–max normalized indexing technique to construct the indices for inclusive growth, social inclusion, digital inclusion and institutional quality. The results of this study show that there is a direct link between institutional quality and inclusive growth for a higher-income group of countries but not in the rest of the income groups. Contribution of social and digital inclusivity is significant in all three income groups, except for social inclusion in middle-income countries. From the policy point of view, these findings suggest that establishing and strengthening the institutional structure in low- and middle-income countries can contribute towards better and higher inclusive growth.

     

制度、制度创新与经济增长

首先,对制度、制度的功能与制度创新作了解释。然后,应用经济计量模型,以改革开放来中国经济发展的历史数据为例,在传统的资本因素和劳动力因素的基础上,增加了制度因素和产业结构因素来考察中国的经济增长,得出结论:制度是影响经济发展的重要因素。     

Exploring the interaction of firm-level change and national institutional environments in shaping employment and union relations: a comparative case study of four European airlines

Drawing on the example of the airline industry, this paper explores in a longitudinal comparative case study the question of how firm-level changes and national institutional environments interact in shaping employee and union relations. Adding to previous research in comparative institutional analysis and comparative employment relations, we illustrate that the way in which industry pressures and national-level effects play out to influence employee and union relations depends on firm-level changes, mainly in the form of firm growth, acquisitions and the foundation of new subsidiaries. We show in particular that depending on firm-level changes, the very same firm might engage differently with a given institutional context at different points in time. Hence, our work illustrates the importance of firm growth, acquisitions and the foundation of new subsidiaries in explaining the shifting interaction between the firm and its institutional environment, and its implications for changing employee and union relations within firms.     

FROM INSTITUTIONS TO FINANCIAL DEVELOPMENT AND GROWTH: WHAT ARE THE LINKS?

This paper presents an integrated overview of the literature linking institutions, financial development, and economic growth. From the large body of research on institutional development, the paper first selects those contributions that make it possible to study the role of institutional arrangements in ameliorating/worsening the information frictions and transaction costs that characterize the development of financial markets. The paper then investigates the theoretical mechanisms by which these specific frictions affect economic growth and presents the stock of empirical evidence quantifying the impact of institutions on growth through financial development.     

APPLYING NORTH'S LAWS OF MOTION TO THE EDGE OF THE WEST

This paper uses Douglass North's theories of institutional economics to explain progress in Muslim Spain. It argues that it was efficient economic institutions in the guise of a free-market economy where the property rights of different strata of society were well protected, which ensured lasting prosperity. This paper postulates that while a population explosion could have been responsible for the initial growth in Spain, it was an efficient formal–informal institutional matrix that ensured a high level of long-term growth.     

贸易、制度变迁与中国的经济增长

本文讨论了贸易和制度变迁对中国经济增长的影响。我们发现在1978年改革开放之前,贸易对中国经济增长的重要性并不明显,而1978年改革开放之后,贸易对经济增长的作用变得十分突出和重要。贸易发展方面存在的巨大差异,是中国东中西部地区的经济发展差距在改革开放之后开始迅速扩大的重要原因之一。贸易除了直接促进经济发展之外,还通过影响经济领域的制度变迁,从而间接影响经济增长。对外贸易为中国的非国有经济发展提供了动力和机会,推动了中国经济的市场化进程。非国有经济的发展和经济资源配置的市场化等经济领域的制度变迁,是推动中国经济持续增长的重要力量。坚持市场化导向的经济改革,限制行政权力,走向成熟的法治市场经济,是未来中国经济发展的内在要求。     

城市区域增长的网络化治理

肇始于20世纪末的信息技术发展及全球经贸联系的日益紧密,生产的分散化与管理的集中化导致国家间的竞争逐步演变为骨干城市及其所依托的城镇群体之间的竞争。立足于当代中国城市发展实践,衔接国际城市与区域研究的理论前沿,着眼于当前我国城市区域体制转型和制度变迁过程中凸显的深层次的体制障碍和运作瓶颈,采用城市政治经济学的研究方法,从背景、方法、视角、内容等多个层面,系统归纳和评述了中外城市区域增长的网络化治理机制,并从城市区域治理的增长网络、增长政体、增长制度和增长管理等角度提出了相关拓展研究的展望。     

The effects of corruption on growth performance of the mena countries

This article aims at testing the effects of institutional characteristics on growth in countries of the Middle East and North Africa (MENA) region. For this purpose we consider conditional convergence in terms of initial conditions, macroeconomic performance, trade openness, government size, natural resource abundance and institutional and political structures for a sample of 90 countries over the period 1960–2000. We use regional indicators and MENA-specific variables in order to test for the effects of each variable on the growth performance of the MENA economies. We highlight the direct and indirect impacts of both corruption and bureaucratic quality on the MENA growth compared to the other regions of the world.     

诺斯经济增长理论对转变我国经济增长方式的启示

诺斯应用现代产权理论说明制度变迁与经济增长的关系,指出制度变迁是经济增长的重要因素之一,有效率的制度促进经济增长和发展,无效率的制度则会抑制甚至阻碍经济增长和发展。发展中国家普遍面临维持经济增长与提高经济效率两大难题,问题根源在于其基本制度框架普遍缺乏发展市场经济的制度背景。因此,在发展中国家,必须发挥政府的"主导"作用,制订一套公开、透明的规则体系,防止寻租、以权谋私和欺诈行为,为市场经济运作创造出公平合理的制度环境,以利于实现市场经济的顺利转型和高效运作。     

Acquaintance or partner? Social economy organizations,institutional logics and regional development in Australia

The social economy as a regional development actor is gaining greater attention given its purported ability to address social and environmental problems. This growth in interest is occurring within a global environment that is calling for a more holistic understanding of development compared to traditionally economic-centric conceptions. While regional development policies and practices have long considered for-profit businesses as agents for regional growth, there is a relatively limited understanding of the role of the social economy as a development actor. The institutional environment is a large determinant of all kinds of entrepreneurial activity, and therefore understanding the relationships between the social economy and broader regional development processes is warranted. This paper moves beyond suggestions of an economic-centric focus of regional development by utilizing institutional logics as a theoretical framework for understanding the role of social enterprises in regional development. A multiple case study of ten social enterprises in two regional locations in Australia suggests that social enterprises can represent competing logics to economic-centric institutional values and systems. The paper argues that dominant institutional logics can promote or constrain the inter-play between the social and the economic aspects of development, in the context of social enterprises.     

Population,pensions, and endogenous economic growth

We study the effect of a declining labor force on the incentives to engage in labor-saving technical change and ask how this effect is influenced by institutional characteristics of the pension scheme. When labor is scarcer it becomes more expensive and innovation investments that increase labor productivity are more profitable. We incorporate this channel in a new dynamic general equilibrium model with endogenous economic growth and heterogeneous overlapping generations. We calibrate the model for the US economy and obtain the following results. First, the effect of a decline in population growth on labor productivity growth is positive and quantitatively significant. In our benchmark, it is predicted to increase from an average annual growth rate of 1.74% over 1990–2000 to 2.41% in 2100. Second, institutional characteristics of the pension system matter both for the growth performance and for individual welfare. Third, the assessment of pension reform proposals may depend on whether economic growth is endogenous or exogenous.     

Institutions and Foreign Subsidiary Growth in Transition Economies: The Role of Intangible Assets and Capabilities

Although transition economies experience significant institutional transformations that vary in their degree and pace, scholarly knowledge of what distinguishes more successful foreign subsidiaries from less successful ones in such environments is limited and inconsistent. We enhance the understanding of this subject by examining how variations in the institutional development of transition economies influence the usefulness of a subsidiary's intangible assets and capabilities and, in turn, their effectiveness in enhancing its growth. Prior research assumes that foreign subsidiaries that operate in any given environment are always better off when they possess strong intangible assets and capabilities. Our analysis of more than 33,000 observations in 14 transition economies challenges this view and enables us to explain why some subsidiaries grow more quickly in less‐developed institutional environments, whereas others more quickly in countries with institutions that are more developed. More specifically, we show that although a subsidiary's intangible assets enhance its growth in transition economies with stronger institutions, these effects are particularly weak or insignificant in transition countries with less developed institutional environments. Conversely, a completely different pattern emerges for subsidiary capabilities, with their marginal effects on subsidiary growth being significantly higher in countries that are institutionally less developed than in transition countries with more developed institutions.     

How I learned to stop worrying and love the crisis

We investigate the effects of economic crises on the subsequent economic, performance, economic reform, democratization and institutional change. Our analysis is based on a sample of post-communist countries, most of which experienced severe economic, crises during the 1990s. We find that the severity of crisis has a positive impact on the subsequent pace of economic reform, economic growth and, with a delay, on investment and institutional change. Episodes of high inflation, moreover, translate into lower subsequent inflation. Crises thus serve as catalysts of reform and institutional change and lead to better long-term economic performance.     

Institutional barriers to firm entry and exit: Case-study evidence from the Brazilian textiles and electronics industries

What are the main barriers to firm entry and exit in developing countries and how do they differ from barriers to firm operation and growth? How important is the institutional and regulatory framework in this respect? This paper examines such questions using case-study evidence from the Brazilian textiles and electronics industries. We find that not only these institutional barriers are high in Brazil but also that they seem to have risen since the early 1990s, and that their effects vary across sectors. We also provide evidence from a survey we carried out in 2005 suggesting that institutions are more important as barriers to entry than as barriers to firm operation and growth.     

Corporate Ecological Responsiveness: Antecedent Effects of Institutional Pressure and Top Management Commitment and Their Impact on Organizational Performance

Institutional theory argues that conformity to institutional pressure enhances the survival probability of organizations. Two key limitations of institutional theory have been proposed in recent literature: one, that it ignores the role of top management, and two, that it focuses only on survival as a benefit to the exclusion of more strategic benefits such as growth and profitability. In this research, we build a conceptual model that addresses both of these limitations in the context of institutional pressure on organizations to behave more responsibly vis‐à‐vis the natural environment. Results from a survey of 199 manufacturing firms show that the relationship between institutional pressure and corporate responsiveness to the pressure (i.e. corporate environmental responsiveness) is enhanced when top management commitment to the environment is high. Moreover, results show that organizational conformity to institutional pressure enhances the strategic benefits that organizations receive. Copyright © 2011 John Wiley & Sons, Ltd and ERP Environment.     

投资者监督、政府干预与企业价值——基于机构投资者的经验证据

文章通过模型证明大投资者(Blockholders)与个人投资者相比对上市公司实施更多的监督,并且大投资者的监督行为能够增加企业价值;但模型也表明机构投资者是否实施监督及其为企业带来的价值增量取决于监督的成本和收益。文章利用中国资本市场的机构投资者数据,检验了理论模型的四个基本结论。结果表明:机构投资者比个人投资者更积极地监督上市公司,并有助于提高企业价值;政府干预(用上市公司最终控制人为政府代表)减少了机构投资者监督的收益,降低了机构投资者对企业价值所起到的正面作用,削弱了机构投资者监督的积极性。研究结论表明,发展机构投资者有助于改善上市公司的治理水平,提升企业价值;但是政府干预限制了机构投资者的积极公司治理作用。     

Institutional entrepreneurship and permaculture: A practice theory perspective

Permaculture is a growing but little researched phenomenon emphasising care for the environment, equity, fair treatment of people and working with—and not against—nature. It thus represents a potential alternative to business as usual, capable of addressing fundamental challenges posed by human-made climate change. The paper examines a previously ignored site of entrepreneurship by taking a practice perspective, exploring connections between the practice and growth of permaculture and institutional entrepreneurship. It assesses practice-related and institutional factors affecting the start-up and operation of permaculture enterprises in the United Kingdom. The study maps and surveys UK Permaculture Association members who have started up their own business and reports on qualitative data from personal interviews with twenty of them. Data analysis employs NVivo software and involves thematic analysis pertaining to the practice, institutional biographies and institutional portfolios of permaculture entrepreneurs. The findings show the importance of permaculture activists' institutional biographies and institutional portfolios to the start-up and operation of permaculture enterprises and for shaping permaculture-related practice. The contribution of the paper lies in how it balances attention to individual agency with subfield-specific, organisational field and macrosocial factors in understanding ‘beyond profit’ entrepreneurship.     

DOES THE IMPACT OF INSTITUTIONAL QUALITY ON ECONOMIC GROWTH DEPEND ON INITIAL INCOME LEVEL?

The aim of this paper is to determine the most adequate institutional variables to introduce into a growth model, depending on the income levels of countries. The results show that, for rich countries, the rule of law is fundamental while, for poor countries, it is control of corruption. This has important implications for any agenda of institutional reform in either type of country.     

Institutional quality and corporate financing decisions around the world

We investigate the influence of the recent comprehensive institutional quality dimensions of Karolyi (2015), such as market capacity, operational efficiency, foreign accessibility, corporate transparency, legal protection, and political stability, on financing decisions of firms across 56 countries between 2000 and 2015. We find that stronger institutional quality or lower fundamental risks in a country ease firms' access to long-term debt, and equity financing. We attribute our results to institutional environments influencing financing decisions by shaping the severity of market frictions, such as agency conflicts and information asymmetry, and transaction costs. As a result, we conclude that any improvement in a country's institutional environment will boost firms' access to long-term financing, and thus longer-term investments that promote countries' economic growth will be more feasible. Our findings are robust to potential endogeneity issues.