Working Papers
WP1279Title:Multiple Arbitrage Motivation and Shock Effect of Short-term Capital Flows——Dynamic Analysis Based on TVP-VAR ModelAuthor:Peng  Hongfeng,Tan  Xiaoyu  and  Zhu  Xiaoquan   View Count:30
       Abstract:From the perspective of maximizing speculative utility of short-term capital flows, this paper creates the interactions model of short-term capital flows, the spot rate, exchange rate expectation, interest rate spreads, stock price index and consumer price index ratio in the accelerating process of capital account liberalization. We construct three TVP-VAR models to empirically analyze multiple in
WP1278Title:Spur Growth or Promote Income Equality?——Financial Inclusion and Economic Development in ChinaAuthor:Peng  Yuchao,Li  Jianjun,Gu  Leilei  and  Ma  Sichao   View Count:24
       Abstract:Does inclusive financial development spur economic growth or ameliorate income equality? Employing province-year panel data over 2004-2015, this paper answers this question. Overall, inclusive financial development can promote economic growth significantly, while it has little effect on income equality. Inclusive financial development enlarges the growth imbalance across different regions. It has
WP1277Title:Measures on Capacity Utilization Rate and Productivity Estimation for Chinese Manufacturing FirmsAuthor:Yu  Miaojie,  Jin  Yang  and  Zhang  Rui   View Count:45
       Abstract:The key to understand overcapacity is to measure capacity utilization rate. Using capital depreciation rate as proxy variable, we develop a method to measure capacity utilization rate and estimate productivity in production function analysis. Our method specifies the conception of capacity utilization rate and productivity. And it is highly extendable. We use our method to estimate the capacity ut
WP1275Title:The Impact of Public Health Insurance Policies on Targeted Poverty Alleviation: Based on the URBMI Survey DataAuthor:Huang  Wei   View Count:37
       Abstract:With the establishment of universal medical insurance system in China, the public health insurance policies have become an important method to prevent the low-income population from poverty due to illness. Taking the perspective of the targeted poverty alleviation, this paper is the first work to evaluate the impact of urban resident basic medical insurance (URBMI) on poverty by using the treatmen
WP1273Title:Choice and Innovation: A Survey of the Sinicization of Western Economic Theories in Modern ChinaAuthor:Cheng  Lin,  Zhang  Shen  and  Chen  Xudong   View Count:66
       Abstract:Efforts and attempts to sinicize western economic theories have been seen ever since the modern times, which serve as an important source for the development of economics studies in China. On the basis of proper learning and application of western economic theories and for the purpose of solving economic problems and promoting economic development in China, modern Chinese scholars have explored th
WP1272Title:Study on the Theoretical Logic of Balanced Growth of Dual Economy from the Perspective of Marx's Reproduction TheoryAuthor:Li  Guicai  and  Lu  Di   View Count:54
       Abstract:In recent years, China’s economic growth has been showing a trend of slowdown. The explanation of the slowdown can be divided into three categories: supply-based arguments, demand-based arguments and supply-demand structure based arguments. The first mainly explore its causes of long-term supply side from the perspective of the slowdown in productivity growth, while the second mainly analyze its s
WP1271Title:The Shackles of Private Manufacturing Enterprises:Labor Cost or Macro Tax Burden?Author:Yang  Jisheng  and  Li  Jiaolong   View Count:64
       Abstract:Most studies have attributed the dilemma of manufacturing enterprises to either the rising labor cost, or the macro tax burden. Based on the panel data of listed companies in the SME board, this paper constructs a multi-level factor model, comprehensively analyzes the marginal effect of micro-firm resource allocation under different ownerships and different industries of different operating states
WP1270Title:A Study on Government Spending Multiplier with the Enterprise Heterogeneity and Financial Friction ConsideredAuthor:Wang  Liyong  and  Xu  Xiaoli   View Count:68
       Abstract:This paper studies the differences between government investment and consumer spending on the impact of state-owned and non-state-owned economies within a dynamic stochastic general equilibrium framework which incorporates the characteristics of financial friction, price stickiness and enterprise heterogeneity, then re-estimate government investment spending multiplier and consumer spending multip
WP1269Title:Social Stratification and Economic Growth Driven by InnovationAuthor:Shao  Yihang,,Zhang  Zhaoyang,Liu  Yanan  and  Liu  Xiahui   View Count:65
       Abstract:In the history of thoughts, the influence of social factors on the economic development has received great attention. Research on supply-side structural reform in China from the perspective of economics and sociology also require our concern for the effect of social structure on economic growth. This paper tries to analyze the impact of social stratification on economic growth. In modern growth th