外部性与产业增长——来自中国省级面板数据的研究

本文利用我国29个省、市、自治区25个产业的面板数据研究了外部性对于地区产业增长的影响,结果发现:在全国样本范围内,专业化水平与产业增长之间存在着负向关系;竞争程度与地区产业增长之间存在着正向关系;多样化程度与产业增长之间存在着一种非线性关系,当多样化程度较低时,多样化不利于产业增长,而当多样化水平较高时,多样化则会促进产业增长。在分地区分产业的分析中,产业多样化水平对经济增长的作用在很大程度上取决于产业的性质(高度规模经济产业或低度规模经济产业)及产业的地理区位(沿海地区或内陆地区)。     

城市集聚经济微观机制及其超越:从劳动分工到知识分工

本文在区分集聚机制与集聚效应、劳动分工与知识分工、成本外部性与技术外部性的基础上,使用统一的分析框架解释了城市集聚经济的发生机制,特别是将知识创造、知识溢出和知识积累结合起来,分析了知识分工与技术外部性促进城市集聚经济的发生机制。知识分工通过协作机制、结构匹配机制和循环累积机制促进知识的创造和积累,交流外部性条件下技术外部性的创新集聚效应和动态累积效应实现了知识在更大空间范围内的低成本使用,二者共同促进了城市收益递增。     

系统重要性金融机构的外部性及其宏观效应研究

系统重要性金融机构由于规模和市场关联度的优势,对整个金融体系和实体经济产生了巨大的外部效应。金融创新活动的高风险性带来的负外部效应会引发巨大的系统性风险和危机。分析了系统重要性金融机构正负两方面外部性的作用机制和宏观效应,研究发现负外部性加大了整个金融体系的边际成本、政府和纳税人的负担,而且会快速传递到宏观经济体系;进一步结合庇古和科斯的外部性政策方法对系统重要性金融机构的监管问题进行了讨论,并将监管方法从政府解和市场解两个方面进行了分析,认为现有的业务管制和资本附加等监管方法可以在一定程度上使系统重要性金融机构的负外部性内在化,但是对于银行规模和税收方面的监管措施还需改进。     

Returns to scale and externalities in the consumption and investment sectors

Using data on US manufacturing, I estimate internal returns to scale and external effects for the consumption and investment sectors. I construct panels of data at the industry level and use results of gross output production function estimation to derive implied estimates in a value added specification. For the investment sector, returns to scale appear to be slightly increasing, with evidence of a positive external effect. For consumption, the evidence indicates decreasing to constant returns to scale. I discuss the implications of these results for the empirical plausibility of indeterminacy in recent multi-sector models of the business cycle.     

基于区域外部性的城市群协调发展

从微观和宏观两个方面出发,并通过关中城市群实例,分析得出市场外部性与政府行为外部性是导致城市群内部利益矛盾的重要原因,进而造成城市群发展不协调。要减弱外部效应对城市群协调发展的影响,解决思路是外部效应的内部化,通过制度的合理制定,达到城市群的协调发展。     

Missing Markets and Redundant Reservoirs

This paper uses a two-sector, two-period,spatial model of groundwater usage withstochastic surface water supply to illustratethe potential for the suboptimal management ofthe timing of groundwater uses. A ``timeprofile externality' is said to exist when thetiming of groundwater extraction by one set ofusers impacts on the time profile of wateravailability to another set of users. Theexistence of the time of use externalitydepends on the presence of importantdifferences in the preferences between thecontrol and non-control sectors. It alsodepends on the absence of the markets thatwould internalise these differences. Oneimportant implication of the existence of suchexternalities is that they can inducesub-optimal insurance investments in the formof water storage capital, i.e., unnecessarysurface water reservoirs.     

Economic Growth and Transboundary Pollution in Europe: An Empirical Analysis

The existing empirical evidence suggests that environmental Kuznets curvesonly exist for pollutants with semi-local and medium term impacts.Ansuategi and Perrings (2000) have considered the behavioral basis for thecorrelation observed between different spatial incidence of environmentaldegradation and the relation between economic growth and environmentalquality. They show that self-interested planners following a Nash-typestrategy tend to address environmental effects sequentially: addressingthose with the most immediate costs first, and those whose costs aredisplaced in space later. This paper tests such behavioral basis in thecontext of sulphur dioxide emissions in Europe.     

再议宏观审慎监管实施必要性

宏观审慎监管的理论发展是伴随着金融理论的发展而发展,其并非是2008年金融危机的新生儿。文章从宏观审慎监管对现有的理论的挑战出发,从理论上探讨了外部性视角下实施宏观审慎监管的必然性,并从金融体系影响实体经济的主要渠道的视角讨论了实施宏观审慎监管的必然性,以期为中国构建宏观审慎监管理论体系提供参考。     

Finance constraints and technology spillovers from foreign to domestic firms

Scholars have suggested that externalities such as technology spillovers to domestic firms from the entry and presence of foreign firms – i.e., Foreign Direct Investment (FDI) spillovers – arise only when domestic firms possess adequate absorptive capacity. But they have also maintained a predominantly technological focus in their conceptualization of absorptive capacity, treating it mostly as a function of domestic firms' technological investments. Yet, several anecdotes point to finance constraints being equally important hurdles to absorbing technology. Given the comparatively scant attention to finance constraints in the FDI spillover literature, we present theoretical arguments and a counterfactual simulation for how finance constraints influence firms' realization of FDI spillovers. In the process, we identify two mechanisms underlying why firms facing high finance constraints experience lower FDI spillovers. (125 words).