GOVERNMENT SIZE AND GROWTH: A SURVEY AND INTERPRETATION OF THE EVIDENCE

Abstract The literature on the relationship between the size of government and economic growth is full of seemingly contradictory findings. This conflict is largely explained by variations in definitions and the countries studied. An alternative approach – of limiting the focus to studies of the relationship in rich countries, measuring government size as total taxes or total expenditure relative to GDP and relying on panel data estimations with variation over time – reveals a more consistent picture. The most recent studies find a significant negative correlation: an increase in government size by 10 percentage points is associated with a 0.5% to 1% lower annual growth rate. We discuss efforts to make sense of this correlation, and note several pitfalls involved in giving it a causal interpretation. Against this background, we discuss two explanations of why several countries with high taxes seem able to enjoy above average growth. One hypothesis is that countries with higher social trust levels are able to develop larger government sectors without harming the economy. Another explanation is that countries with large governments compensate for high taxes and spending by implementing market‐friendly policies in other areas. Both explanations are supported by ongoing research.     

Farmers' Preference for Farming: Evidence From a Nationally Representative Farm Survey in India

Using data from a nationally representative farm survey in India, we have analyzed Indian farmers' stated preference for farming as a profession. Findings show that more than 40% of farmers dislike farming as a profession because of low profits, high risk, and lack of social status, yet they continue with it owing to a lack of opportunities outside agriculture. Farmers who express a preference for moving out of agriculture are mostly those with small landholdings, poor irrigation facilities, fewer productive assets including livestock, and follow a cereal‐centric cropping pattern. They also have relatively lower access to credit, insurance, and information, and are weakly integrated with social networks such as self‐help groups and farmers' organizations. Importantly, the disinclination for farming, conditional on other covariates, is not significantly differentiated by caste, an important indicator of social status in rural India. Yet, within a caste group, the dislike for farming moderates with larger landholdings.     

Are some Indian banks too large? An examination of size efficiency in Indian banking

In this paper we use data from the years 1997–2003 to evaluate the size efficiency, as distinct from scale efficiency, of Indian banks. Following Maindiratta [Maindiratta A (1990) J Econ 46:39–56] we consider a bank to be “too large” if breaking it up into a number of smaller units would result in a larger output bundle than what could be produced from the same input by a single bank. When this is the case, the bank is not size efficient. Our analysis shows that many of the banks are, indeed, too large in various years. We also find that often a bank is operating in the region of diminishing returns to scale but is not a candidate for break up.

多级政府级次下的经济增长与财政支出规模优化研究

笔者在巴罗经济增长模型的基础上,建立了一个两级政府提供公共物品的经济增长数理模型,说明政府级次划分对经济增长绩效的影响.并采用计量分析的方法,分别对我国中央政府与地方政府财政事权划分的合理性、最优事权划分标准进行了检验与测算.     

注册制下完善A股分拆上市对策研究

分拆上市作为证券市场优化资源配置和促进市场化并购重组的重要手段,在境外市场被广泛运用,但A股市场的分拆案例相对较少。2019年12月,证监会发布了《上市公司分拆所属子公司境内上市试点若干规定》(以下简称《若干规定》),为引导和规范上市公司分拆所属子公司在境内上市奠定了政策基础。由于我国分拆上市制度还刚刚起步,仍需在加强监管、完善配套制度、确立有关业务规则等方面开展持续研究。为厘清成熟市场分拆上市的实践,本文重点研究美国和中国香港市场,对其分拆上市的相关规则、有益经验以及最新案例进行梳理和归纳,在此基础上提出相应的政策建议,以期为后续细则制定提供参考。     

中国城市公园的标度律特征分析

科学研判城市公园面积与人口规模的关系,有利于 客观认识和指导城市的可持续发展。采用1996—2019年中 国291个地级及以上城市公园面积与人口规模数据,探究二者 之间的标度关系及其标度因子的时空演化规律,进而采用基于 标度律的公园规模修正模型度量各城市公园面积达到预期值的 程度,并对规模修正指标和人均公园面积进行比较分析,得到 如下结果。1)我国公园面积与人口规模整体呈亚线性规模缩 放关系,公园具有显著规模效应,符合城市标度律特征;时间 上呈现亚线性-超线性-亚线性的阶段性波动演变特征,空间 上分异明显：华南接近线性标度关系,华中、东北、华北、西 南呈典型亚线性关系,华东、西北呈亚线性,但标度因子偏离 度较大。2)大城市在人均公园面积排序中相对靠后,在考虑 规模效应后,排名普遍提高,说明规模修正指标能在消除人口 规模影响的基础上,有效衡量不同规模城市公园面积的水平。 标度律视角下的城市公园规模测度能够为城市人口管理和公园 面积发展的决策提供科学指导,为不同规模城市公园建设提供 可借鉴的比较标准,促进公园与人口的协调发展。     

地方政府规模影响因素实证分析

本文从公共服务需求角度出发,运用中国31省面板数据检验了地方政府规模的影响因素。研究发现：（1）我国地方政府规模发展趋势符合瓦格纳法则,同时满足对外经济的效率假说和补偿假说;（2）民族多元化对地方政府规模有显著的正向影响;（3）上期政府收入对政府支出有很大的正向影响,说明二者之间互为因果关系。     

我国上市公司投资质量测度指标体系的设计与应用

上市公司投资质量的测度指标包括投资规模(选用回归方程的残差指标)与投资结构(选用多元化指数DT指标)两部分指标。使用2007年至2009年我国上市公司数据进行实证检验,发现该指标体系具有科学性。运用加权平均法对2009年我国上市公司投资质量进行综合的计分与排名,进一步验证了该指标体系具有可行性。     

"名人"独立董事履行职责状况分析——来自中国上市公司的证据

本文以2006～2007年我国A股上市公司为样本,实证检验了我国上市公司聘请的独立董事的知名度是否会影响其履职效力.结果发现,上市公司聘请的"名人"独立董事确实存在"知名度效应":学界"名人"独立董事对提高财务报告质量和抑制公司高管违规有显著影响,但同时发现学界"名人"独立董事和企业界"名人"独立董事在发表意见时没有履行好勤勉的职责,发表独立意见的可能性较小.此外,本文还发现具有财会背景和法律背景的独立董事有助于减少公司和高管个人违规事件的发生.这一结果表明上市公司聘请"名人"独立董事具有信息后果,支持独立董事能够降低代理成本的逻辑.     

地方政府规模影响因素实证分析

本文从公共服务需求角度出发,运用中国31省面板数据检验了地方政府规模的影响因素。研究发现:(1)我国地方政府规模发展趋势符合瓦格纳法则,同时满足对外经济的效率假说和补偿假说;(2)民族多元化对地方政府规模有显著的正向影响;(3)上期政府收入对政府支出有很大的正向影响,说明二者之间互为因果关系。