Location factors of FDI and the growing services economy1

Foreign direct investment (FDI) has increasingly shifted toward the service sector. This change in the industrial composition of FDI and the non‐tradable nature of services may have altered the importance of location factors for investment decisions. To capture potential changes in FDI determinants, a contrasting sectoral analysis is performed. Based on FDI stock data from eight new EU member states for the period 1998–2004, we implement a dynamic panel approach allowing the speed of adjustment to the equilibrium investment level to vary across sectors. Results support our assumption that investment into the service sector, which is characterized by low installation costs, adjusts much faster to its desired level than manufacturing FDI. Thus, government interventions to attract FDI are likely to boost the service sector immediately while having a slower impact on manufacturing FDI. Furthermore, as services are mostly non‐tradable, FDI into this sector is largely based on market‐seeking motives while FDI in the manufacturing sector is also driven by international price competitiveness measured by real unit labour costs.     

NEW DEVELOPMENTS TOWARDS RESOLVING THE COMPANY-ESTABLISHMENT PROBLEM*

The paper begins by stating various aspects of the national economic accountant's “company-establishment problem.” Six possible approaches to the problem are briefly outlined. The paper concentrates on one approach based on new developments in business accounting theory and practice, namely divisional-reporting procedures. The division represents the smallest operating entity capable of reporting both a complete set of production (income) statistics and a set of related financial (balance-sheet) statistics. When companies are owned and controlled by the same interests, namely the enterprise, each division reports on an enterprise-wide basis. In this important case, the traditional company-establishment problem has an enterprise-division-establishment resolution. There is considerable emphasis on clarifying the issues needed for systematic development of divisional-reporting to meet the requirements of a national statistical agency. Key aspects are the provision of appropriate conceptual distinctions relating to statistical structure of corporate organizations and patterns of intercorporate ownership consolidation. Practical experience gained by the U.S. Federal Trade Commission's line of business reporting program is also highlighted. Two tables show details with respect to a proposed divisional income statement and balance-sheet statement that a systematically developed division-reporting unit can provide. The tables are related to existing statistics yielded by traditional company- and establishment-reporting units. In effect the paper is part of a movement giving national economic accounting more microdata dimensions. Future research must integrate the proposed new statistical reporting unit within systems of national accounts presently constructed on the basis of a dual sectoring classification.     

MICROBUSINESS ACCOUNTING AND MACROECONOMIC ACCOUNTING: THE LIMITS TO CONSISTENCY*

The paper is concerned with analyzing the consistency problem that arises when the macroenterprise sector of a nation's accounting system is put on a microdata foundation. This foundation is composed of sets of microbusiness accounts, after some appropriate rearrangements and reclassifications. We pose the question: can the macroenterprise sector accounts be regarded as a consolidation of (observed) microbusiness accounts? The answer is positive from a purely conceptual viewpoint, but negative from a statistical viewpoint which preserves the decision-making records of microbusiness units. The latter phenomenon is referred to as the limits to (statistical) consistency while attempting to maintain the viability of a national accounting system. The analysis proceeds by exploiting the structural properties of market transactions matrices for a nation's economy. The results are sufficiently general to encompass the case where the transaction matrices are initially characterized by both sectoral discrepancies and transaction flow category discrepancies. In this general context it is shown that the statistical inconsistency potentially resulting from the replacement of the macroenterprise sector by an aggregation of microbusiness units has certain properties with economic meaning. This leads to a discussion that explains the ultimate rationale of statistical inconsistency: the fact that different microeconomic decision units may have different views and knowledge of common market transactions. The paper concludes with some implications for future research that appear to follow from the historical development of the subject matter.     

中国服务业发展悖论——基于“两波”发展模式的研究

本文借鉴最新文献对服务业发展规律的测度方法,用中国1952—2010年的地区面板数据对我国服务业比重变化的长期规律和阶段性特征进行了测度,结果认为:宏观国家层面上,我国服务业比重的变化确实有悖于世界经济整体服务化的趋势;但在地区层面上,我国服务业比重与人均GDP的关系基本符合"服务业比重随经济发展不断上升"的普遍规律,所谓经济服务化的"中国悖论"在地区层面上并不存在;对服务业发展的阶段性特征和地区差异进行分析发现,我国大部分地区仍然处于以传统服务业为主的第一波发展阶段,只有少数地区进入了以现代服务业发展为主导的第二波。文章最后对我国服务业发展规律的成因进行了一般分析和实证检验。     

Climate threshold,financial hoarding and economic growth

We use an iterative finite difference method to establish theoretical models that reflect the relationships among climate threshold, financial hoarding and economic growth. We build a simultaneous equations model to conduct an empirical analysis based on China’s statistical data from 1979 to 2012. Our study yields the following results: China’s climate threshold has shown a zigzag-shaped rising trend since 1979; the main reasons for the rapid expansion of financial hoarding were high savings rate, savings leakage, higher marginal efficiency of financial hoarding compared to capital efficiency or higher internal creativity of the financial sector; there were positive cumulative effects between financial hoarding and economic growth, which were significantly inhibited by climate threshold; the climate threshold had discrepant influences on different industries. To achieve a balanced economy, more money should be invested in the real sector to appropriately reduce the rate of savings leakage; the financial sector should move from scale expansion to service efficiency improvements to increase its marginal contribution to the economy and to enhance capital efficiency; the real sector should improve technological innovation and speed up the adaptive adjustment in climate-sensitive industries to move from economic growth to advanced development.     

ECONOMIC GEOGRAPHY WITH TWO REGIONS: CAPITAL ACCUMULATION AND ECONOMIC STRUCTURE*

This paper proposes a compact two-region economic model with endogenous capital accumulation. The system produces one industrial commodity and service. Each region consists of one industrial sector and one service sector. The model describes the interaction between capital accumulation, the regional distribution of capital and labour, the division of labour, the capital distribution within each region, land rents, regional service prices and commodity prices over time and space. Accepting some simplifying assumptions, we show a way to integrate economic geography. equilibrium theory and neo-classical growth theory. We analyse how differences in regional resources such as land and amenities and the preference structure of the population may affect the equilibrium structure of economic geography.     

Service quality in Brazilian mobile telephony: an efficiency frontier analysis

The mobile telephony sector is characterized by the dynamic interplay of rapid changes in technology and an apparently growing competition, as indicated by the fierce nonprice competition, and is yet associated with the entry of new operating companies in some cases. In this context, a relevant and neglected issue is the assessment of how service quality responded to an increasingly competitive environment. This study utilizes data envelopment analysis to assess the quality efficiency of mobile telephony companies in Brazil during the 2000–2003 period. Window analysis was conducted for the entire period, taking as reference different quality indicators pertaining to different forms of complaints and calls completed and interrupted. The efficiency measurement was made feasible by interpreting the indicators reflecting a positive dimension of quality as outputs and those reflecting negative aspects of quality as inputs. Given potential heterogeneities across firms that relate to the frequency band and to the technology (time division multiple access technology and code division multiple access technology among others), this article considered adjusted efficiency scores. The Tobit model for censored data was estimated to control for the aforementioned aspects. Rescaled residuals from the econometric estimation produced efficiency scores for service quality. The evidence indicated an overall improvement in efficiency over time. Nonparametric tests were consistent with a positive evolution of quality over time even for shorter subperiods.     

电子信息产业国内价值链省域比较优势测度及空间差异研究

为应对后疫情时代全球电子信息产业加剧的“比较优势陷阱”,中国亟需通过国内价值链省域比较优势的互补协同提升整体国际竞争力。在价值链产品内,基于垂直专业化分工框架,兼顾增值能力与劳动生产率两个维度,使用非竞争型投入占用产出模型,设计一个评测国家内部区域电子信息产业真实比较优势的新指标。结果表明,东部沿海省域比较优势强度与广度最为显著,内陆省域比较优势集中于上游能源型部门;制造业部门比较优势凸显,服务业部门比较优势相对薄弱;比较优势高省域集中度与低省域集中度的产业部门中,均存在整体比较优势强弱差异,其中,高省域集中度产业部门比较优势强度更高。     

科技服务业产出测算：指标确立、数据收集与未来预测

科技服务业产出测算是对科技服务业产出数据的统计与分析，加强科技服务业产出数据的规范统计和应用分析可为我国政府调整产业政策提供重要数据支撑。以科技服务业产出测算为研究对象，结合学者观点、国家标准及各级政府相关产业政策，提出将分支产业作为初始指标的横向统计思路，构建科技服务业产出测算指标体系。在数据收集方面，强调要做好“收”与“填”两个基本工作；在指标确立和数据收集基础上，进一步提出未来预测的两种方法，以此作为科技服务业产出数据预测的初步探索；提出应从统一数据统计标准、完善数据调查与公开制度、加强数据资源开发3个方面建立健全我国科技服务业产出数据测量与管理体制机制。     

ON THE EFFECTS OF DIFFERENT PATTERNS OF PUBLIC CONSUMPTION EXPENDITURES

The multiplier effects resulting from an isolated increase in the level of public consumption within different public branches are investigated and the policy implications are discussed. The article begins with a theorethical analysis which shows why and in which ways these multipliers can be expected to differ between public branches. Thereafter, an empirical investigation is given, based on simulations with an econometric model of the Swedish economy. In this model the public activities are divided into 13 different public branches. The effects of an increase in public consumption on employment, imports and private consumption are found to differ considerably depending on which branch of the public sector is expanded. Some implications for short run stabilization policy are discussed. The article ends with a special analysis of the implications for a medium term planning problem: the trade off between private and public consumption growth. This analysis throws new light on the old topic "private or public consumption". In an economy with highly differentiated production in the public sector the trade-off is shown not to be unique. The sacrifice of private consumption growth corresponding to a given growth of public consumption expenditures will vary considerably according to the distribution of the public consumption growth within the different branches of the public sector.     

Growth of business services: A supply‐side hypothesis

This paper aims to explain why and how the service sector may grow faster than manufacturing. It develops a two‐sector, closed‐economy model, having a manufacturing sector and a service sector. Accumulation of human capital serves as the basis of growth. The analysis focuses on business services, while household services are also considered. It is argued that differences in returns to scale between the two sectors and employment frictions in manufacturing explain why the growth rate of the service sector may be higher. The model also features that within the service sector the business services sub‐sector may grow faster than household services.     

我国服务业增加值的核算问题

本文集中讨论我国服务业增加值估算中存在的问题。由于历史原因和服务业本身的一些特点 ,我国现价服务业增加值被严重地低估了 ,服务业增长率计算也可能存在着偏差。对服务业增加值的以往研究均受到基础数据的限制而未能根本地解决这些问题。服务业统计核算的缺陷严重地阻碍着经济分析和经济决策。因此 ,改善我国服务业统计核算是当务之急。从长远的角度来说 ,服务业增加值核算的改善在很大程度上取决于统计调查的完善。但是 ,在现有的条件下 ,仍然有很大的改善余地。     

人民币外部实际汇率的产业结构效应*

本文对人民币外部实际汇率的产业结构效应进行了理论和实证分析。理论分析表明,外部实际汇率贬值通过成本效应、支出转移效应直接提升净出口,出口部门需求上升通过产业分工效应、收入效应和城镇化效应间接带动其他部门、其他产业的产出。实证检验显示,外部实际汇率贬值总体上有利于提升工业产出,但外需变化对工业产出的影响要比外部实际汇率显著;外部实际汇率可提升服务业产出但有明显时滞。     

Notes on partnerships in the services sector

Although in most developed countries the service sector is almost as large as the industry sector, little attention has been paid to its industrial organization. These notes are concerned with only one problem: why partnership, as a form of economic organization, is more popular in some industries within the services sector, while it occurs less frequently in other. Without refuting other possible explanations, we shall argue that partnerships are more frequent in consulting service industries than in other service industries and this form of organization comes to save consumers' time as well as other consulting fees in exactly the same way as the clustering phenomena emerge in the industry sector to save consumers' search time.     

Evaluating the Relative Innovative Position of European Union Member Countries: An Empirical Analysis

This paper aims to provide empirical evidence about the relative positions of European Union member states on innovation and, more specifically, on innovation in manufacturing. These positions were obtained from the aggregation of different innovation variables using the principal component analysis. We do not provide, from the statistical viewpoint, a synthetic indicator, even if, from the economic perspective, the information we obtained was similar to what such an indicator would provide. Our unit of analysis is the sector in each country, what we will term ‘country‐sector’, covering both innovative and non‐innovative firms.     

THE SECTORAL PRODUCTIVITY PERFORMANCE O F JAPAN AND THE U.S., 1885–1990

This paper provides a disaggregated productivity comparison between Japan and the U.S. for the period 1885–1990. It combines two detailed productivity comparisons for 1939 and 1975 with time series to provide a long-term sectoral perspective. There is much diversity in the Japanese experience. The agricultural sector has shown relative stagnation since 1885. The service sector showed considerable growth before the Second World War and reached high productivity levels in the post-war period. Within services there is great diversity in productivity levels. Japan's manufacturing sector has shown the fastest catch-up and its productivity level is currently close to that of the U.S.     

中国服务业结构变动与增长的关联分析

1991年以来我国服务业发展呈现出明显的结构变动特征。本文通过对我国服务业内部结构与服务业增长之间相关关系进行动态和静态的实证分析,得出结论认为我国四个层次服务业的合理发展次序应为三、一、二、四。我国第二、四层次服务业发展速度应低于第一层次服务业,第三层次服务业发展速度应高于第一层次服务业,目前我国第一层次服务业增长速度趋缓不利于拉动我国服务业的进一步增长。文章最后给出了结论与政策性启示。     

城市群功能分工、工业技术进步与工业污染——来自长三角城市群的数据检验

2003年起,我国城市群由专业化分工快速转向功能分工,但优化城市群功能分工是否有利于改善环境污染问题？运用2003-2017年长三角城市群面板数据,采用仅包括自变量空间滞后的SLX模型,研究城市群功能分工与工业技术进步对工业污染排放强度的影响效应。结果发现：在城市群层面,功能分工与工业污染排放强度呈正“U”型关系;功能分工结构效应和工业技术进步均能够显著降低工业污染排放;在城市群内部,功能分工空间溢出效应和工业技术进步空间滞后效应均有利于邻近城市减轻环境污染;但城市群功能分工技术效应和技术溢出效应均未体现出预期减排效应,城市群内部各城市间功能分工与协作需进一步加强。     

DISTRIBUTION OF LABOR INCOMES IN URBAN ZAIRE

The author addresses himself first to the problem that summary measures of wage income inequality, computed for Kinshasa, the main urban area in Zaire, tend to overstate the degree of total labor income inequality among sharing units of comparable size. It is argued that this is true for two main reasons: (1) earnings from female commercial activity are not recorded in the available statistics; and (2) the 1960 UN definition of household upon which the measures of inequality are based understates the size of the actual sharing unit. Data taken from the 1967 Socio-Demographic Survey of Kinshasa and the 1970 household budget study are used to test these hypotheses regarding short-run income inequality.
The policy observation is made that, while modernization of the commodity distribution system may provide a disincentive for sharing and a reduction in opportunities for female employment, investment in non-service sectors may equalize the secular income distribution for a given migration cohort. Evidence of unskilled migrants moving from service to non-service sector employment in response to increased labor demand is presented. This is accomplished by supplementing sample survey data with time series on aggregate employment by sector for Kinshasa.