Abstrat:The Balassa-Samuelson effects hypothesis provides a starting model for analysis of the relationship between long run economic growth and trend change in the real exchange rate for a country. On the basis of introducing the model and review of the relevant literatures, the paper examines the empirical evidences regarding the hypothesis using multi-country cross-sectional data and time series data. It also discusses the implications of the model for assessing the relationship between Chinas economic development and changes in RMBs real exchange rate.

Abstrat:Using the behavior equilibrium exchange rate model and the cointegration theory to calculate the quarterly state of the real exchange rate misalignment of RMB from 1984—2004, the result shows that the real exchange rate of RMB experienced three stages undervaluation and two stages overvaluation during this period. By analyzing the growth rates of the Chinese main internal and external economic indicators in 21 years as well as studying the economic effects of the real exchange rate misalignment of RMB in various stages, it can be found that the serious misalignment significantly influenced the external economic variables but the small misalignment did not harm the economy. The economic system could automatically adjust itself. In addition, the misalignment can explain the growth of the external economic variables very well. Reversely, this verified that the calculation to the real exchange rate misalignment of RMB is precise. On the base of constructing econometric models to study the economic effects of the misalignment, the results shows that the misalignment produced significantly negative effects to export and import.

Abstrat:This paper analyzes the mechanics of government public capital investment on long-run economic growth by setting up a two-sector endogenous growth model containing government public capital investment and dividing public capital investment to government physical capital investment and human capital investment. The theoretical analysis suggests both forms of government public capital investment may have positive or negative effects on long-run economic growth depending on the size of private agents intertemporal substitution elasticity of consumption. On the other hand, We use VAR approach to analyze the effects of government public capital investment on long-run economic growth based on annual data for the period from 1978 to 2004 in China. The positive analysis suggests that there are long-run equilibrium relations among both forms of government public capital investment and economic growth, while government physical capital investment have significant positive effects on long-run economic growth, government human capital investment have relative smaller positive effects on long-run economic growth and have negative effects on economic growth in short term, which has significant implications for macroeconomic policy and public capital investment fields selecting in China.

Abstrat:At present, there are a great deal of controversies over the macroeconomic fluctuations of China, and generally speaking, those papers are all based on the data available before the census on Chinas economy in 2005, which will definitely bring about some negative influence to the result of the investigation. In order to analyze the contributing factors of the macroeconomic fluctuations of China more precisely, in the first place, we define the beginning and ending periods of each. And this paper has made a comparison between the four methods, which are currently considered to be mature in international community, namely, Linear Trend Method, H-P Filter, Band-Pass Filter and Production Functions Method. These methods are used to analyze the data during the period from 1952—2005. Besides, the paper has used the data after the 2005 census on Chinas economy, and estimated respectively the beginning and ending periods of the business cycles occurred after the reform and opening to the outside world. Through analyzing the advantages and existing problems of the four methods respectively and verifying each other, the author finally manages to figure out the beginning and ending periods of each macroeconomic fluctuation in previous occasions in China, which will make a necessary foundation for further analyzing the contributing factors of each macroeconomic fluctuation.

Abstrat:Does privatization work If so, how does it work We seek here to provide empirical answers to these two questions by considering the Chinese privatization experience. Using a detailed World Bank survey of 299 Chinese state-owned enterprises SOEs across six sectors and five cities from 1996 to 2001, we found that: 1 there is clear evidence that better-performing SOEs were chosen to be privatized first; 2 privatization in general works in China, significantly improving sales revenue and lowering the costs of the privatized firms and resulting in large gains in profitability and productivity, while not at the expense of massive unemployment; 3 fully-privatized firms with controlling private shares perform better than partially-privatized firms where the state remains a dominant owner; and 4 privately-controlled firms focus on product restructuring, while state-controlled firms on direct cost-reducing means and debt restructuring. Cost restructuring seems to work better for state-controlled firms while debt restructuring works better for privately-controlled firms.

Abstrat:Using the results on the second basic units census of Shandong province and the production function model,this paper compares efficiency evolution of various corporations restructured from SOEs and finds that the effiency of restructured corporations is higher than SOEs while the degree of improvement varies distinctly among them.Further analysis finds that the change of ownership type is the major driving factor for the improvement of efficiency.Change to the two determinant factors of ownership——capital structure and nature of owner——influences the effiency apparently.This paper concludes that the key to improving the efficiency of SOEs is to turn them into independent businesses,which requires reducing the weigh of state-owned capital in the firms.

Abstrat:This paper analyzes the process of agricultural economic growth from 1978 to 2004. The finding of our research indicates that the different institutions of land create different incentive to the persons who engage in the agriculture. At the same time, the change of benefit space is caused by the movement of price and finical impacts on the activity of farmers. Hence, the change of institution plays an important role in the agricultural economic growth after Chinas reform and opening. This paper examines the change of land institution, price system and the finical and taxation institution, which impact on the agricultural economic growth, in different phases from 1978 to 2004 in the econometric and statistic methods. The survey shows that the change of institution has greatly contributed to the development of agriculture. According to our research, we should take the innovation of rural institution as the main way which to realize the agricultural economic growth.

Abstrat:Villager council as the unique legitimate and formal institution arrangement takes three functions conflicting: the agent of local government, agent of collective ownership and governor of village community. The multi-functions conflicting each other that villager council has taken are bringing various doubts and blame on rural fundamental institutional arrangement-Household Responsibility System under collective ownership. This article discussed the relationship among functions of land, conflicting three roles of villager council and collective ownership. It raised the issue of governing structure of collective ownership. The paper conclude that collective ownership of land is the important precondition for land equally distribution to community member, and averagely distribution of land is the fundamental institution design to ensure everyone can labor for bread. When social insurance mechanism is imperfect and the institutional framework of collective ownership is unchangeable in short term, governing structure of collective ownership is becoming a new problem for rural reform and development while farming economy is transforming from traditional small farmer into part time farmer.

Abstrat:By using Data Envelopment Analysis approach, we treat the health production system in a certain province as a Decision Making Unit DMU, identify its inputs and outputs, evaluate its technical efficiency in 1982, 1990 and 2000 respectively, and further analyze the relationship between efficiency scores and social-environmental variables. This paper has several interesting findings. Firstly, provinces on frontier in different year are different, but provinces far from the frontier keep unchanged. The average efficiency of health production has made a significant progress from 1982 to 2000. Secondly, all provinces in China can be divided into six categories in terms of health production outcome and efficiency, and each category has specific approach of improving health production efficiency. Thirdly, significant differences in health production efficiencies have been found among the eastern, central and western regions in China, and among the eastern and central regions. At last, there is significant positive relationship between population density and health production efficiency but negative relationship not very significant between the proportions of public health expenditure in total expense and efficiency. Maybe it is the result of inappropriate tendency of public expenditure. The relationship between abilities to pay for health care services and efficiency in urban areas is opposite to that in rural areas. One possible reason is the totally different income and public services treatments between rural and urban residents. Therefore, it is necessary to adjust health policies and service provisions which are specifically designed to different population groups.

Abstrat:In this paper, we find that after the long period of continuously increasing of regional income disparity, the pace of regional income disparity widen has been slowed down step by step after 2000. By examining the economic convergence and regional growth in the period of 1990—2004, we find that there is an evidence of conditional convergence, and there are some factors contributed to the development of regional economic growth. Then we decomposed the regional growth rate to find out the contribution of each factor to the development of regional income disparity.

Abstrat:Based on the empirical mode decomposition, this paper analyses the regional economical diversity RED in China from 1953 to 2002, and primarily discusses the cause resulting in RED with different scale on the view of production factor. The results of the research show that RED fluctuation in China takes 60-year scale, 17.5-year scale and trend as the principal part. RED enlargement in these major scales will lead to the government attention. When analyzing the mutual relationship between factor investment discrepancy and RED, we should recognize the regional discrepancy resulted from factor investment discrepancy and the change of factor investment discrepancy resulted from environment discrepancy of factor investment, and should pay more attention to the long-term effect by employed persons and investment discrepancy. When formulating the regional policies, the short-term and long-term RED should be taken into account from the point of view of discrepancy fluctuation among the regions.