Entropy,environment, and endogenous economic growth

This paper investigates the proper modeling of the interaction between economic growth and environmental problems, summarizes under which conditions unlimited economic growth with limited natural resources is feasible, and describes how sustainable growth can be achieved. It synthesizes the results from various environmental endogenous growth models.The physical dimension and the value dimension of economic activity have to be treated as conceptually distinct. Accumulation of natural variables is bounded due to biophysical laws (notably, the entropy law). However, economic value may grow through the substitution of reproducible human inputs for natural inputs. The properties of knowledge, which is the primary human input, do not contradict unlimited new knowledge creation.     

Macroeconomic Policy, Exchange Rate Regimes and Economic Growth

China has been keeping high economic growth rate since it carried out managed floating exchange rate regimes in 1994, while now begins to face retrenchment pressure brought by the depression of internal and external economy. The establishment of RMB exchange rate regime should take account of the validity of macroeconomic policy, macroeconomic growth and the regional internationalization of RMB.     

基于马克思扩大再生产理论的内生经济增长模型

本文在马克思扩大再生产图式的基础上建立了一个内生经济增长模型,揭示了马克思用扩大再生产图式表达的经济增长理论的内生增长特性,并进一步讨论了该经济增长模型中的转移动态。     

Symposium onMarket development and inequality in China1

After three decades of market development, the problem in China is no longer how to achieve growth but how to manage its consequences and how to sustain it. One of the most important consequences is the growing inequality – between skilled and unskilled workers, between the genders, between rural and urban areas, and between inland and coastal regions. The papers in this symposium shed light on the important issue of inequality during rapid market development in China. Analysis based on ground level empirical studies can help us to understand better the sources of the rising inequality and to illuminate the nature of the future challenges.     

Effect of pension replacement rate on economic growth： A theoretical model

In social pension system, the pension replacement rate is one of the key parameters. It not only determines the welfare of retirees and the finance balance of social pension system, but also has an effect on economic growth. This paper analyzes the effect of the pension replacement rate on economic growth with the standard overlapping generations＇ model, and suggests that the pension replacement rate should keep an appropriate level for economic growth and the development of the pension system.     

Stock markets, banks, and economic growth: Empirical evidence from the MENA region

Over the last four decades, a wide theoretical debate is concerned with the fundamental relationship between financial development and economic growth. Recent studies shed some light on the simultaneous effect of banks and financial system development on growth rather than a separate impact. The empirical study is conducted using an unbalanced panel data from 11 MENA region countries. Econometric issues will be based on estimation of a dynamic panel model with GMM estimators. Thus, peculiarities of MENA region countries will be detected. The empirical results reinforce the idea of no significant relationship between banking and stock market development, and growth. The association between bank development and economic growth is even negative after controlling for stock market development. This lack of relationship must be linked to underdeveloped financial systems in the MENA region that hamper economic growth. Then, more needs to be done to reinforce the institutional environment and improve the functioning of the banking sector in the MENA region. Based on these results, other regions at the same stage of financial development such as Africa, Eastern Europe or Latin America should improve the functioning of their financial system in order to prevent their economies from the negative impact of a shaky financial market.     

2000年来四个直辖市经济增长与空气环境质量变化的实证分析

本文选取2000年－2006年的北京、上海、天津、重庆四个地区大气环境质量及经济增长率的统计资料，运用面板数据建立了相应的计量模型，实证结果表明，经济的快速增长，并不必然伴随着环境质量的持续下降，市场经济发展也可创造改善环境质量的内生动力，并且政府环保政策在环境质量的改善方面也起到了重要的作用。     

The Swedish third way: an assessment of the performance and validity of the Rehn-Meidner model

This paper analyses the functioning of the Rehn–Meidnermodel in Sweden and the validity of the model's underlying theory.Both sceptics and friends of ‘the Swedish model’have exaggerated the effects of active labour market policyand solidarity wage policy on employment, inflation and growth.However, these policies have contributed to the reduction ofhysteresis effects and wage differentials in Sweden. Furthermore,Swedish experiences confirm the Rehn–Meidner view thatpositive demand shocks and expansionary macroeconomic policiesmake it difficult to combine full employment with price stability,economic growth and equity even if central wage negotiationsare coordinated and trade unions willingly accept wage restraint.     

湖南省财政收入与区域经济增长的实证研究

财政收入与区域经济增长之间存在着相互促进、相互制约的关系.近年来湖南省经济增长与财政收人出现迅速增长的势头,但在全国而言优势并不明显.文章用计量模型分析了湖南财政收入与区域经济增长之间的关系,并提出若干优化财政收入的政策建议.