增长失衡与政府责任:基于社会性支出角度的分析

There exists a kind of growth imbalance in China’s current development process, which is essentially characterized by the imbalance between the nation’s wealth and the people’s welfare. This paper points out that growth imbalance results mostly from insufficient government social spending on people’s welfare. Consequently, the government should shoulder the basic responsibility for the provision of education, health and social security, quicken the transformation of government expenditure structure and increase the share of social spending, in order to improve the people’s welfare and achieve the rebalancing of growth. The increase in social spending can also promote the accumulation of human capital, which will help the conversion of economic growth pattern and the realization of sustainable and healthy economic development. Translated from Jingji Yanjiu 经济研究 (Economic Research Journal), 2006, (10): 4–17     

The hydroelectricity consumption and economic growth in Asian countries - evidence using an asymmetric cointegration approach

ABSTRACT

This study examines the four commonly tested hypotheses in hydroelectricity consumption – economic growth literature for 12 Asian countries. Our results from a recently developed hidden cointegration technique uncover rich and significant relationships between negative and positive components of the variables under consideration. In particular, we find evidence to support the neutrality hypothesis in five countries (Bangladesh, Indonesia, Pakistan, Philippines, and Thailand), the growth hypothesis in four countries (India, Japan, South Korea and Taiwan), and both growth and conservation hypotheses in three countries (China, Malaysia, and New Zealand). These findings suggest that appropriate economic policies should be elaborated on the basis of the country’s specific hydroelectricity consumption–growth nexus. Finally, our new evidence suggests that the lack of stable relationship between hydroelectricity consumption and economic growth documented in previous studies for some of these countries could be due to the failure to properly account for the nonlinearity property in the data.     

经济政策不确定性是否驱动制造业企业的“脱实向虚”*——基于中介效应及调节效应识别

当前,实体经济投资回报率低,制造业企业逐渐显现出“脱实向虚”的特征,主要表现为制造业企业金融化程度较为明显。本文使用2009—2019年中国A股制造业上市公司数据,研究了经济政策不确定性对制造业企业“脱实向虚”的影响。本文基于现金持有、实物期权和委托代理理论,进一步识别了两者关系的中介效应及调节效应,通过实证分析发现：（1）经济政策不确定性增加了制造业企业的“脱实向虚”程度;（2）融资约束对于经济政策不确定性和制造业企业“脱实向虚”之间的关系具有中介效应;（3）企业的股权集中度、客户集中度、银行监督程度均减弱了经济政策不确定性对制造业企业“脱实向虚”的正向影响。通过替换核心变量,本文在考虑所有制和规模异质性、政府补助的影响后,其主要结论仍然稳健。本文针对监管部门政策实施、流动性支持、资金流向监管等方面,提出了有针对性的建议。     

山西省特色农业产业集群集中度和竞争力分析*——以运城苹果、朔州羊肉、晋城大豆为例

[目的]文章选取了山西省3个具有代表性的特色农业产业集群(运城苹果、朔州羊肉、晋城大豆)进行研究,通过探索山西省特色农业产业集群发展的优势与不足,有助于提升产品竞争力和助力区域经济发展,进而达到促进农业发展、带动农民增收的目的。[方法]文章运用2005年、2010年、2015年3个时期的数据,首先基于波特的钻石模型分析了3个产业的发展情况,然后运用区位商和集中系数指标、产业效率优势指数和规模优势指数指标分别分析了3个特色农业产业集群的集中化程度和竞争力。[结果]从集中化程度来看,运城苹果产业发展进入成熟阶段,专业化程度和集中化程度近几年一直较为稳定,进一步提升空间不大;朔州羊肉产业处于大幅上升阶段,集中化程度明显,且优于专业化程度;晋城大豆产业专业化程度优势优于集中化程度优势,但二者均呈先升后降趋势。从竞争力评价角度来看,运城苹果产业已初具产业效率优势且稳定上升,规模优势稳定且变化不明显;朔州羊肉产业具有极高的产业效率优势且高位运行,规模优势稳定且处于成熟阶段;晋城大豆产业正在形成产业效率优势,规模优势近年来稍有下降。从综合比较优势来看,运城苹果产业处于成熟阶段,朔州羊肉产业具有极强的综合比较优势,晋城大豆产业受规模优势下降的影响而下降。[结论]总体来看,3个产业作为山西省的特色农业产业,其集中化程度和竞争力均较高,且具有发展优势和发展空间,区域布局合理,已经形成或正在形成特色农业产业集群,但同时也存在一定的问题。从微观层面来说,农户、企业等微观主体应该继续发挥产品的品质优势,同时努力扩大市场份额和拓展销售渠道,积极延伸产业链,加强与科研院所的合作;从宏观层面来说,应该加强政府支持和引导,减少市场风险的不确定性。     

Flexible Fourier stationary test in purchasing power parity for African countries

This study applies stationary test with a Fourier function proposed by Enders and Lee (2004 Enders, W and Lee, J. 2004. Testing for a unit root with a nonlinear Fourier function, Tuscaloosa, AL, , USA: Working Paper, Department of Economics, Finance and Legal Studies, University of Alabama.  [Google Scholar], 2009 Enders, W and Lee, J. 2009. The flexible Fourier form and testing for unit roots: an example of the term structure of interest rates, Tuscaloosa, AL, , USA: Working Paper, Department of Economics, Finance and Legal Studies, University of Alabama.  [Google Scholar]) to test the validity of long run Purchasing Power Parity (PPP) to assess the nonstationary properties of the real exchange rate for 20 African countries. We find that our approximation has higher power to detect U shaped breaks and smooth breaks than linear method if the true data generating process of exchange rate is in fact a stationary nonlinear process. We examine the validity of PPP from the nonlinear point of view and provide robust evidence clearly indicate that PPP holds true for almost African countries. Our findings point out their exchange rate adjustment is mean reversion towards PPP equilibrium values in a nonlinear way.     

自动化立体仓库模拟系统软件设计

介绍自动化立体仓库模拟系统中的软件设计。提出软件的总体设计思路,列举了系统的各功能模块,具体分析了通讯接口电路及程序实现,并介绍了软件设计中的重点及难点。     

Revisiting Purchasing Power Parity in OECD

This study revisits Purchasing Power Parity theory (PPP) in the 34 OECD countries during January 1994–August 2013. We use a new panel stationary test with both sharp breaks and smooth shifts, a novel approach to panel unit-root testing, proposed by Bahmani–Oskooee et al. (2014). The results indicate that the PPP holds in half of the 34 OECD countries. These results indicate the importance of proper modelling of both sharp breaks and smooth shifts in real effective exchange rate series of OECD countries.     

社会主义与统一多民族国家的国家建设(1947-1965)

在民族区域自治制度的奠基过程中,通过社会主义宗旨所要求的贯彻群众路线、培养少数民族干部,成功促进了中央政府和各族人民群众的直接沟通;通过让各族人民群众翻身当家做主、改善民生福祉等社会主义性质的政治举措,形塑起各族人民群众对党和国家发自内心的认同;通过民族平等之制度前提、社会主义经济制度等制度性组织模式,以及相关具体实践途径,实现了中国各族人民大团结;在社会主义国家单一制、人民共和、中国共产党领导的制度基础之上,民族区域自治成功地将国家内部的不同民族凝聚成为具备有机整体结构的中国人民,呈现为一种促进沟通、赢得认同、实现团结、巩固统一的统一多民族国家的国家建设过程。因此,民族区域自治成功实现清末以来统一多民族国家之国家建设质的飞跃的制度要义,恰在于社会主义这一国家根本制度。     

Deposit insurance and bank regulation in a monetary economy: a general equilibrium exposition

Summary. It is commonly argued that poorly designed banking system safety nets are largely to blame for the frequency and severity of modern banking crises. For example, underpriced deposit insurance and/or low reserve requirements are often viewed as factors that encourage risk-taking by banks. In this paper, we study the effects of three policy variables: deposit insurance premia, reserve requirements and the way in which the costs of bank bailouts are financed. We show that when deposit insurance premia are low, the monetization of bank bailout costs may not be more inflationary than financing these costs out of general revenue. This is because, while monetizing the costs increases the inflation tax rate, higher levels of general taxation reduce savings, deposits, bank reserves, and the inflation tax base. Increasing the inflation tax rate obviously raises inflation, but so does an erosion of the inflation tax base. We also find that low deposit insurance premia or low reserve requirements may not be associated with a high rate of bank failure.Received: 2 January 2002, Revised: 1 March 2003JEL Classification Numbers: D5, E5, G1.B. D. Smith: Sadly, our co-author, colleague and dear friend, Bruce D. Smith, died on July 9, 2002.     

The economic burden of common adverse events associated with metastatic colorectal cancer treatment in the United States

Aims: Adverse events (AEs) associated with treatments for metastatic colorectal cancer (mCRC) may compromise the course of treatment, impact quality-of-life, and increase healthcare resource utilization. This study assessed the direct healthcare costs of common AEs among mCRC patients in the US.

Methods: Adult mCRC patients treated with chemotherapy or targeted therapies were identified from administrative claims databases (2009–2014). Up to the first three mCRC treatment episodes per patient were considered and categorized as with or without the AE system/organ category during the episode. Total healthcare costs (2014 USD) were measured by treatment episode and reported on a monthly basis. Treatment episodes with the AE category were matched by treatment type and line of treatment to those without the AE category. Adjusted total cost differences were estimated by comparing costs during treatment episodes with vs without the AE category using multivariate regression models; p-values were estimated with bootstrap.

Results: A total of 4158 patients with ≥1 mCRC treatment episode were included (mean age?=?59 years; 58% male; 60% with liver and 14% with lung metastases; 2,261 [54%] with a second and 1,115 [27%] with a third episode). On average, two treatment episodes were observed per patient with an average length of 166 days per episode. Adjusted monthly total cost difference by AE category included hematologic ($1,480), respiratory ($1,253), endocrine/metabolic ($1,213), central nervous system (CNS; $1,136), and cardiovascular ($1,036; all p?Limitations: Claims do not include information on the cause of AEs, and potentially less severe AEs may not have been reported by the physician when billing the medical service. This study aimed to assess the association between costs and AEs and not the causation of AEs by treatment.

Conclusions: The most costly AEs among mCRC patients were hematologic, followed by respiratory, endocrine/metabolic, CNS, and cardiovascular.