Abstract:The paper is trying to point out that the populous notion of “sequencing” as an approach to reform is inadequate to catch up the nature of the institution and institutional transformation, as the institutions or components of institution are interdependent. One moves too fast over-shooting or too slow bottleneck compared to other institutions in transition will cause “incoherence costs”. The realistic or more optimal approach is to push the reforms in all areas at the same time by similar “steps” not the “sequencing” with the consideration of coherences among the various institutions, i.e., the approach of “Parallel Partial Progression” PPP.

Abstract:The study on structures changes has become one of the core contents on macroeconomic data quality. This paper adopts the joint estimation model to deeply analysis 36 Chinese macroeconomic data series from the view of economic system and finds out the features and rules of the outliers. The results show:The most of outliers appear in the cluster forms more or less, and there are deep internal relationships between them, and the isolated outliers are not the major features of Chinese data. Almost all of the original series have obvious skewness and many kurtosis are appear. So it is obviously rejected they obey normal distributions. Most of the original series and the correct series appear non-ARCH features, but the P-value from ARCH2 to ARCH8 are different.

Abstract:Despite the phenomenal progress in poverty reduction in rural PRC, few studies analyze the sources of growth of this increasingly important sector, in particularly failed to include public investment directly as a source of growth and poverty reduction. This paper points out the knowledge gap in previous studies and develops an analytical framework to fill the gap. The results show that government spending on production-enhancing investments, such as agricultural R&D and irrigation, rural education, and infrastructure including roads, electricity, and telecommunications all contributed to rural productivity growth and reduced regional inequality and rural poverty. But variations in their marginal effects on productivity were large, among the different types of spending as well as across regions. The paper finally draws some conclusions regarding the policy choices based on the empirical results.

Abstract:This paper proposes a structural VAR model which extends the frameworks of Hoffmaister and Roldós 2001 and Prasad 1999. The model is then used to analyse the sources of Chinas trade balance fluctuations in the period of 1985—2000. Efforts are made to distinguish the forces which underlie the long-run trend in trade balance from those with transitory impacts. The effects of four types of shock are examined - the foreign supply shock, the domestic supply shock, the relative demand shock and the nominal shock. Among other findings, two emerge as important. First, the movements in Chinas trade are largely the result of real shocks. Second, the Renminbi is undervalued, yet changes in the exchange rate bear little on the trade balance. Therefore, monetary measures would not suffice to redress Chinas trade “imbalance”.

Abstract:The high repayment rate and its effects on poverty reduction of group lending have drawn the attention of many economists and policy makers. The present studies have paid attention to explain why its repayment rate is so high, yet have not compared the efficiency of group lending with other forms of credit. Answering many questions such as “whether group lending is more efficient than individual credit” is an important topic in the field of group lending and also the main topic in this paper.

Abstract:Reconstructing 4 sets of panel data of household incomes and the properties of the household heads extracted from the China Economic, Population, Nutrition and Health Survey, this paper measures the income mobility of overall distribution and 4 household groups from the end of 1980s to the late 1990s. Income mobility is defined by the concept of time-dependence. Within the overall incomes distribution we find 1 the household groups that persistently stayed at the bottom quintile with higher probability were uncertain; 2 the closer a household group dwelled to cities, the greater likelihood the households of the group at the top quintile would remain their position next period. The rural households at the bottom would stay there next period with a little bit higher probability than averagely, however they remained at the top with an indeed lower probability. Among the household groups, the rural ones shared much high degree of mobility than the other 3 groups. Within each sub-group, the households with their heads were at the age of 40—49 and 50—59 or receiving more schooling shared more well-beings. At the all 4 periods, the income mobility helped to equalize the income distribution among the households. Its role as the income equalizer decreased in late 1990s among rural and township households, but increased among urban households.

Abstract:This paper analyzes the influences caused by administrative entry regulation on firms optimal product qualities and the average product quality of the market. In the model, consumers, whose number is assumed to be constant, have difficulties in telling the quality of a certain product precisely. The fiscal revenue maximizing government sets administrative entry regulation and fines all the illegal enterers. Thus, despite of the fact that potential illegal enterers can enter the market through counterfeiting the product of the incumbent, they have to face the probability of being fined. The analysis shows that, the government does have incentive to undertake the regulation but will adjust the regulation to such an extent that entry is still profitable for potential illegal enterers. The product quality under regulation is either less than or equal to that in the situation of no regulation. This paper also shows that both the product quality of the incumbent and that of the illegal enterer in equilibrium are negatively correlated with the strength of the regulation.

Abstract:This paper first estimates the capital allocation efficiency of China from 1993 to 2002. Then a time variable is introduced to establish a dynamic model to evaluate the capital allocation efficiency of China from 1994 to 2002 individually and change tendency of the capital allocation efficiency during these years is also studied. Thirdly, by using the panel data model, which can give us each industrys position while providing a more precise estimation of the capital allocation efficiency for the whole economy, we revaluate the capital allocation efficiency of China and the industry analysis is implemented.

Abstract:The thesis makes efforts in the following researches to strengthen the applicability of Krugman model:1 analyses and re-interpretation on the hypothesis of Krugman Model ;2 extending the Segregation Model to obtain a more convincing idea of duality eddy evolution of cities ;3 transplanting Tiebout Theory to fill up the omission in analyzing the influence of the inherent element of location. Then with newly comprehend of Krugman Model to analysis a typical case of evolution process of multi-centered cities of our country——the cities of Quanzhou Area——and setting forth to expand ,to improve and to prove the principle of the self-organization in the citys space in Krugman Model.

Abstract:Basing the sample of 416 events in which listed companies merge or acquire non-listed companies in China stock market from 1998 to 2001, this article investigates the effects of tunneling or propping motives of controlling shareholders and local government to the long-term performance of listed companies. The result suggests that the MAs driven by motives of avoiding deficit or rationing shares can enhance the companies accounting performance in short term. On the other hand, when companies have not such motives, the MAs are basically tunneling activities that will damage the companies value but have no significant influences to their accounting performance.

Abstract:Sustainable development of listed firms builds a solid foundation for the sustainability of securities market. As Chinas central government pays more and more attention to the development of securities market, it is very important to measure the competitive edge, long-term performance and growth prospects of the listed firms. This paper uses a novel approach in developing such an econometric model. It also uses, for the first time, panel data econometric methods in conducting empirical investigations on Chinas listed firms. By using state-of-the-art statistical methodologies including Mahalanobis distance, computer intensive method and Jackknife, the paper explores the determinants of long-term performance of listed firms and finds that a dynamic cumulative performance model can successfully capture the intriguing relationship among various proxies for sustainability, disclose the intrinsic characteristics of sustainable firms, and predict the future performance for most of the listed companies.

Abstract:Since 1980s, outsourcing has been one strategy selection, especially from 2002, outsourcing service market burst. In the meantime, the outsourcing subject was hotly debated between outsourcing supply side and demand side. This paper explains the basic assumption——“Cost Savings”, discusses the reasons, benefits and the core competition situation, and clears up the misunderstandings. Finally, the paper puts forward a series issues and hopes the theoretic circle put more attention on the outsourcing ad hoc information technology outsourcing.