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Economic Survey

	2013 Vol.1 Issue.5 Published 2013-08-28

Orignal Article

	1	The Simultaneous Nonlinear Relationship between Economic Developments, Urbanization and Environmental Pollution
		JIANG Xiao-yun,WANG Chong
		Urbanization is one of the formation mechanisms of EKC, highlighted for the spatial agglomeration of capital element through the process of industrialization and urban expansion, which produces a nonlinear acceleration effect of growth and environmental pollution, and makes nonlinear trends of Logistic-type growth curve between economic growth and environmental pollution. The relative changes between economic growth and environmental pollution has the characteristics of inverted U-EKC, but the urbanization does not make such a nonlinear trend between the consumption and pollution emissions. Using the system of simultaneous equations based on the provincial data from 2000 to 2009, this paper examines the positive feedback relationship among the environment, urbanization and economic development, and demonstrates that the implementation of environmental-friendly urbanization strategy is the core of achieving sustainable development initiatives.
		2013 Vol. 1 (5): 1-6 [Abstract] ( 3817 ) [HTML 1KB] [ PDF 831KB] ( 2256 )

	7	Empirical Study on China’s Regional Charitable Contribution Level Differences ——Measurement, Tendency and Policy Suggestions
		NAN Rui,ZHAI Yu-jia
		This paper analyzes the charitable contribution level differences between regions and its changing trend by sampling data from 2000 to 2011 with cini coefficient, the logarithmic average deviation and Theil index. The results show that differences of charitable contribution level between regions is obvious and tending to increase and enlarge, and the intra-regional differences plays a dominant role; The charitable contribution level differences is mainly inter-provincial differences and charitable contribution levels in east region, central region and west region present the “U” feature. On this basis, the paper puts forward a series of policy suggestions that reconstruct the logic of charity law system construction, reshape the value orientation of charitable tax policy and promoting charity market-oriented transformation of the policy recommendations.
		2013 Vol. 1 (5): 7-12 [Abstract] ( 3484 ) [HTML 1KB] [ PDF 741KB] ( 2041 )

	13	A Factor-influencing Analysis of Inducing Regional Technological Innovation——Evidence from Thirty One Provincial Environmental Patents
		Wang Wen-pu,CHENG Bin
		Technology innovation, in particular green technology innovation, plays an important role in mitigating the conflicts between environment and economy. To test the induced innovation hypothesis, using China’s environmental patent panel data for the period of 2001-2009, the paper explores the impact of environmental policy on environmentally-friendly technology with nonlinear methods, which not only investigates the effect of environmental policy on technological change, but also examines the effect of the existing knowledge on it. The results show that environmental policy significantly contributes to environmental innovation, which supports the induced innovation hypothesis, and the existing knowledge has a significant positive impact on environmental innovation. It is also found that the impacts of environmental policies on the green technology innovation are dynamic. Thus certain long-run effective mechanism to be built to encourages green technology innovation to spring out continuously.
		2013 Vol. 1 (5): 13-18 [Abstract] ( 3533 ) [HTML 1KB] [ PDF 815KB] ( 1899 )

	19	Evaluation of the Effect of Crops’ Minimum Purchase Price Policy
		ZHANG Jian-jie
		This paper, taking wheat as an example, makes dynamic and static comparisons before and after the execution of crops’ minimum purchase prices, output gross of executive areas and non executive areas, structure and efficiency. The results show that: the effect of propping up the market of the wheat minimum purchase price policy is more obvious, the output concentration, acreage, yield, selling price and the returns to scale advantages of the policy executive areas have steadily improved; at the same time, the “reference price” function and radiation conduction of the effect of policy on non executive areas, make the effect of propping up the market overflow to the non-executive to a certain extent. Therefore, a moderate expansion of the scope and variety of crops’ minimum purchase price policy will have an important role in the protection of national grain security and the income raise of grain farmers.
		2013 Vol. 1 (5): 19-24 [Abstract] ( 3270 ) [HTML 1KB] [ PDF 839KB] ( 2480 )

	25	The Income Effect and Demonstration Effect of Urbanization on Rural Inhabitant Average Propensity to Consume in China: 2000-2009
		YI Xing-jian,WU Qing-yuan,YANG Bi-yun
		This paper examines the relationship between urbanization and rural consumption in China by the provincial panel data from 2000 to 2009. The income effect and demonstration effect raised in the process of urbanization are measured through decompositing the income structure and consumption structure. It is found that urbanization has significant pulling effect, which is especially strong in the poor west region, on APC in rural China. We also establish the wage income channel as main way for income effect. In addition, it tells that demonstration effect works on non-rigid consumption. Lastly, after explaining the empirical findings, the paper considers the deep implications for the expansion of rural consumption demand through urbanization, and then proposes policies and further research views.
		2013 Vol. 1 (5): 25-29 [Abstract] ( 3413 ) [HTML 1KB] [ PDF 726KB] ( 2150 )

	30	A Research on Income Differences between Employment Status for Rural Migrate Labor——Based on the Survey Data on Beijing Floating Population
		LI Zhong-jian
		Using Beijing rural floating population survey data, the paper analyzes employment status by multiple regressions. The results indicte that the income of employer, self-employed, manager is higher than that of employer. In order to transfer rural labor steadily, more rural labor should be trained, lowered shreshold for opening business, developed for equalization of public administration and services which could support rural labor in deferent way in cities.
		2013 Vol. 1 (5): 30-34 [Abstract] ( 3047 ) [HTML 1KB] [ PDF 742KB] ( 2069 )

	35	Assets Specificity, Vertical Integration and Farmers’ Specialized Cooperatives
		SONG Mao-hua
		The paper analyzes the strength and weakness of three kind agricultural industrial organization- company plus farmer household, company plus intermediary organ plus farmer household based on a farmer’s cooperative in Wenling city, Zhejiang Provience. Further more,the paper analyzes the reason why the cooperatives led by company can develop steady. The idea is presented that specified assets owned by company are the main impetus that company sets up cooperatives. It’s also the main factor that maintains the cooperatives sustainable development. Quit right is the key factor that curbs the company’s opportunism. According to the research result, the author put forward some suggestions of adding specificity assets, perfecting the cooperatives governance mechanism, enhancing the credit to strengthen the cooperatives’ development.
		2013 Vol. 1 (5): 35-41 [Abstract] ( 3097 ) [HTML 1KB] [ PDF 1059KB] ( 1826 )

	42	The Commodity Structure of Trade, Factor Market Distortions and Factor Income Distribution
		CHEN Qiu-feng
		The paper analyses the mechanism of changes in commodity structure of trade and the limited mobility of labor and labor-saving technological progress on income change by introducing Harris-Todaro model to H-O model, and the foreign trade theory into the theoretical framework of the dual economic. It is found that the changes in factor intensity of trade goods have effect on distribution of income; the declination of income of the labor owner may be the result of changes in commodity structure of trade. Capital deepening and labor-saving technological progress are not conductive to workers. As a labor resources relatively rich country, export commodity structure changes from labor-intensive to capital-intensive, and the reason why there will be the phenomenon of departure from the factor intensity may be due to factor market distortions in resource allocation and the development of within product trade.
		2013 Vol. 1 (5): 42-46 [Abstract] ( 3176 ) [HTML 1KB] [ PDF 669KB] ( 1985 )

	47	The Research on Industrial Agglomeration and Export Sophistication of Chinese High-tech Industry
		MO Sha,HE Gui-xiang
		The paper analyzes the influence of industrial Agglomeration on export sophistication by the model of Metilz with the related data of 25 provinces and the city between 2006-2010 years. The conclusion shows that industrial Agglomeration has an significant effect on export sophistication; the regression results shows obvious difference when using different area data, that is to say, different regional industrial Agglomeration leads to difference level of regional export sophistication of high-tech industry. Improving the level of industrial Agglomeration is an important way to enhance export sophistication of high-tech industry in our country.
		2013 Vol. 1 (5): 47-52 [Abstract] ( 3104 ) [HTML 1KB] [ PDF 815KB] ( 2187 )

	53	Tax Incentives, Social Expenditure and Foreign Direct Investment:An Analysis of Simultaneous Equations Model Based on Inter-provincial Panel Data
		ZHANG Xian-feng,LU Dan,ZHANG Yan
		Given the bi-directional mechanism between tax and FDI, this paper empirically analyzes the non-linear relationship between tax and FDI, and the effect of social expenditure and its structure on FDI by constructing a simultaneous equations model to based on provincial panel data from 1990 to 2010. The result shows that foreign capital doesn’t regard tax incentive as a dominant factor during the location selection process at present, but pays more attention to the local’s social expenditure level; Social expenditure has a positive effect on the inflow of FDI, and the higher is the level of social expenditure the lower the overall impact of tax on FDI; there exists an inverted “U”-type non-linear relationship between tax and FDI; the structure of social expenditure has different effects on the inflow of FDI, technology and human capital expenditure has a positive effect, whereas social security and employment expenditure has an insignificant effect.
		2013 Vol. 1 (5): 53-58 [Abstract] ( 3207 ) [HTML 1KB] [ PDF 742KB] ( 2050 )

	59	Intellectual Property Rights Protection and South-North Vertical Production Allocation——Analysis Based on the Product Life Cycle
		WANG Shu-yi,WU Zhi-ge
		From the perspective of product life cycle, the paper analyzes the influence of IPRs protection on South-North vertical production allocation by a revised firm boundary model. The results indicate that multinational firms with rapid product turnover are less influenced by local IPR protection environment, hence more inclined to explore South cost advantages via vertical specialization; In contrast, firms with longer-lived products are more likely to engage in vertical integration among north countries, with less concerns over technology being imitated. Based upon above implications, South nations should adopt discrepancy IPRs protection strategies to promote technology introduction and industry upgrade.
		2013 Vol. 1 (5): 59-64 [Abstract] ( 3587 ) [HTML 1KB] [ PDF 769KB] ( 1877 )

	65	EU Environmental Policy and Renewable Energy Industry Agglomeration:Theoretical Analysis and Empirical Check
		QIU Li-cheng,CAO Zhi-xiu,WANG Zi-feng
		The EU commission policy for protecting environment attaches great importance to the development of renewable energy industry. This paper summarizes the environmental policy implemented in Denmark, Germany, Sweden U.K. and devotes the reasons of agglomeration effect of renewable energy industry across Europe. We draw the conclusion that the policy for protecting environment is the key factors of agglomeration of renewable energy. Besides, in EU, carbon emission, expenditure on education, GDP per capita contribute to the renewable energy industry agglomeration to some extent.
		2013 Vol. 1 (5): 65-71 [Abstract] ( 3022 ) [HTML 1KB] [ PDF 1187KB] ( 1917 )

	72	Trade Integration Costs and Industrial Concentration: A Theoretical Study from Economic Geography
		ZHOU Xin-miao,LI Yan
		This paper analyzes the effects of trade integration of two countries on industrial location and economic growth through a theoretical model. The conclusions reached finally depend both on whether the import or the export costs are affected by the trade policies on which the integration process is based and on whether the developed or the developing country introduces them. In general, when integration leads to an increase of industrial concentration in the developed country, the growth rate increases and welfare improves in both countries. If integration means that industry moves to the developing country, the growth rate decreases. In this case the developing country can also improve its welfare.
		2013 Vol. 1 (5): 72-77 [Abstract] ( 3283 ) [HTML 1KB] [ PDF 851KB] ( 1894 )

	78	Technology Spillover,Independent Innovation and Economic Fluctuation in China
		OUYANG Qiu-zhen,CHEN Zhao
		This paper empirically analyzes the relationship among technology spillover, independent innovation and economic fluctuation relation in China by economic growth theory with the trade data from 1990 to 2010. It is found that the technology spillover from FDI affects on China’s economic fluctuation mostly, and the technical impact from the FDI can reduce China’s economy fluctuation without considering the absorption capability; the technology spillover from import accelerates economic fluctuations in China; the domestic technology innovation has minimal effect on economic fluctuation with negative effect. Considering the absorption capability, all variables remains with the original. The impulse response function and variance decomposition results basically support the conclusion.
		2013 Vol. 1 (5): 78-83 [Abstract] ( 3305 ) [HTML 1KB] [ PDF 745KB] ( 1889 )

	84	Local Protection, Corporate Investment and Corporate Competitive Advantage: Evidence from Chinese Manufacturing Listed Companies
		ZHANG Gong-fu,WANG Yong-qiang,LIU Zhen
		On the basis of listed company’s empirical data in China, this paper investigates the effect of local protection on corporate investment and its competitive advantage. The empirical evidence indicates that the locative companies where the province has a higher level of local protection over-invest more, especially the state-owned enterprise. We also find that in provinces with higher levels of local protection, the companies are more reluctant to investment outward, especially the private-owned enterprise. Finally, we find that the relationship between the degree of local protection and companies’ competitive advantage is negative,which indicates that local protection is harmful to the companies’ competitive advantage.
		2013 Vol. 1 (5): 84-89 [Abstract] ( 2977 ) [HTML 1KB] [ PDF 919KB] ( 1940 )

	90	Mechanism and Case Analysis of Luxury Category Innovation
		CAO Lin
		This paper, based on Maslow’s hierarchy of needs theory, discusses how the demand for luxury goods category is generated by the dynamic mechanism, and analyzes the direction of category innovation by case studies. The results show: the demand quantity of material benefits category determined by the degree of physical needs and the satisfaction degree, in the case of high level of material living standard, it’s difficult to improve consumer’s demand of material benefits through marketing strategies. There is a large need-gap in people’s emotional benefits at present, consumers’ stimulus sensitivity coefficient of emotional benefits is relatively big, and marketing strategy act a lot to improve consumers’ demand of emotional benefits, so taking emotional benefits as a luxury category, is the direction of category innovation.
		2013 Vol. 1 (5): 90-94 [Abstract] ( 2792 ) [HTML 1KB] [ PDF 746KB] ( 1798 )

	95	Political Connection, Institutional Environments and the Performance of SMEs
		ZHANG Hui-rong,ZHANG Yu-ming
		Using listed SMEs data in China, this paper analyses the ubiquitous relationship between political connection and enterprise performance, which is considered as a judgment whether political connection, a rent-seeking means, efficiently promotes or unfavorably blocks the scare resource allocation. Empirical testing result of the panel data shows that political connection of SEMs significantly and negatively correlates with both enterprise performance and market performance, especially, the lower degree of marketization is, the more resource the government allocates, and the lower degree of rule by law is, the stronger the negative performance effect is. The rent-seeking hypothesis of political connection is supported by the research result, that is, the non-producing rent-seeking cost caused by political connection establishment not only aggravates the burden of enterprise, but also distorts the allocation of social rare resource. In the long run, it is harmful for the enterprise performance promotion and sustainable development.
		2013 Vol. 1 (5): 95-99 [Abstract] ( 3698 ) [HTML 1KB] [ PDF 765KB] ( 1971 )

	100	Tax Regime Reform, Property Rights Arrangements and Earnings Management of Tax Avoidance
		XIE Xiang-bing
		As the background of China’s corporate income tax reform in 2008, the paper observes the listed companies’ tax avoidance motive of earnings management behavior and the content of property rights arrangements on firm’ tax avoidance. The research samples include the companies which the corporate income tax rate will decline after the reform. The paper finds that there is a significant profit reduction in companies which tax rate declines before the reform year. The further results indicate the profit change behavior exists only in the non- state-owned holding companies. The study provides new empirical evidence that property rights arrangements can affect corporate behaviors significantly.
		2013 Vol. 1 (5): 100-105 [Abstract] ( 3198 ) [HTML 1KB] [ PDF 883KB] ( 2262 )

	106	Capacitated Facility Location Models and Approach with Time-varying Demand
		CHEN Zhong-wu,ZHANG Zong-xiang,QIN Jing-bo
		The demand for a given product or service is usually varying when time changes in dailylife, it might be necessary to relocate the facilities to meet the upcoming changes. For investment restrictions, classical facility location decisions often remain unchanged regardless of demand and costs may change in future. This can not respond flexibly to varying demand. This paper studies capacitated facility location problems in time varying demand environments, in order to meet the changing of customer demand based on the discrete and limited period of time. We present a relocation model under the assumption of different demand structures in order to minimize total investment. We also solve this model with Lagrange heuristic algorithm. Effectiveness of the algorithm is verified by the experimental data.
		2013 Vol. 1 (5): 106-110 [Abstract] ( 2769 ) [HTML 1KB] [ PDF 656KB] ( 2399 )

	111	The Long-Term Dynamic Effects of Population Age Structure Change to China’s Household Savings
		XU Sheng-yan,LIU Pei-song

		2013 Vol. 1 (5): 111-116 [Abstract] ( 3592 ) [HTML 1KB] [ PDF 974KB] ( 2112 )

	117	Housing Inequality and Subjective Well-being in Urban China——A Multilevel Analysis on CGSS Data
		LIU Mi-na,DU Jun-rong
		Based on data from the Chinese General Social Survey 2005, we analyze the impact of housing inequality on subjective well-being (SWB) on Hierarchical Linear Modeling in urban China. The results show that there is regional disparity of SWB. The number of the housing does have a strong positive effect on SWB, and there is an “inverted-U” association between housing size and SWB. The relative inequality of housing such as the gap of the housing size between the average housing size and the per capital housing size of the province, has a strong negative effect on SWB. In addition, there is also “inverted-U” association between Gini coefficient of housing of the province and the SWB, The critical point in Gini coefficient is found at 0.325, which means that SWB of the citizen increases with housing inequality when the coefficient is less than 0.325 but SWB decreases with housing inequality when it is larger than 0.325.
		2013 Vol. 1 (5): 117-121 [Abstract] ( 3530 ) [HTML 1KB] [ PDF 754KB] ( 2518 )

	122	Theoretical and Empirical Analysis of China’s Fiscal Decentralization and Environmental Pollution——Based on Provincial Static and Dynamic Panel Data Model
		LIN Xiao-yu LI Qiang-yi,GUO Yin-yin
		This paper first theoretically clarifies the relationship between fiscal decentralization and environmental pollution and empirically researches the inherent relations between Chinese fiscal decentralization and the environmental pollution by using static and dynamic panel data model on the basis of 30 provinces in China from 1999-2010 panel data. The results show that there is positive correlated relationship between fiscal decentralization and environmental pollution, the increase of fiscal decentralization level doesnt help to reduce Pollutant emissions. Local governments may not do their efforts to control pollutant emissions. Meanwhile, The increasing proportion of secondary industry and the last period of pollutant emissions will aggravate the current level of environmental pollution , the inverted U type curve relationship is observed between per capita income and environmental pollution.
		2013 Vol. 1 (5): 122-127 [Abstract] ( 4016 ) [HTML 1KB] [ PDF 778KB] ( 2024 )

	128	International Capital Flow and Global Imbalance: from Perspectives of Institution and Financial Development
		YU Jing-wen,PENG Wei,ZHOU Zhi-liang
		This paper analyzes the role of institution and financial development in determining the international capital flow with the data by Lane and Milesi-Ferretti (2007). The legal origin, the mortality and population density in 1500s used as instruments for institution and financial development to infer the causal effect of institution and financial development on capital flow. Furthermore, the institution quality is unbundled to investigate the influence of different institution qualities on international capital flow. The results illustrates that the institution quality stimulates all three kinds capital inflows. However, the financial development cannot attract FDI inflow. The government effectiveness has the direct effect on the three kinds capital flows.
		2013 Vol. 1 (5): 128-134 [Abstract] ( 3394 ) [HTML 1KB] [ PDF 1030KB] ( 2108 )

	135	Imperfections on the Market for Natural Catastrophic Insurance: the View from Charity Hazard
		REN Jin-zheng
		This paper discusses the failure of catastrophic insurance market affected by charity hazard. Charity hazard is a premium-free insurance provided by others for individuals, which leads individuals tendency not to insure or take any other mitigation measures as a result of reliance on excepted financial assistance from governmental relief or donations by NGO or friends. For depressing the impaction of charity hazard, governments need some reasonable institutional arrangements and alternations, for example, mandatory insurance, the redirection of governmental funds from post-catastrophe relief to pre-catastrophe subsidies for insurance premiums or other protective measures.
		2013 Vol. 1 (5): 135-139 [Abstract] ( 2790 ) [HTML 1KB] [ PDF 777KB] ( 1965 )

	140	Asymmetry Effect of Monetary Policy Based on the Model of MSVAR
		ZHAO Xiao-nan,ZHANG Jing,CAO Yun-xiang
		The paper discusses the asymmetry of Chinas monetary policy state with the help of state-dependent Impulsive Response Function(IRF by the Markov Switching Vector Auto Regression(MSVAR)model and Impulsive Response Function based on Chinas macroeconomic data from first quarter of 1992 to the fourth quarter of 2011. It is suggested that Chinas monetary policy transmission mechanisms are non-symmetric. The two-district MSVAR model can well reflect the role procedure of credit transmission path of monetary policy on macroeconomic system, but the interest rate transmission path of monetary policy on the role procedure on the macroeconomic system requires three-district MSVAR model to describe, and obviously, the district characteristics of the transmission mechanisms reflect the different response of monetary policy on the inflation rate and real output. We also find out that the inhibitory effect of tight monetary policy in economic expansion is significantly greater than the stimulate effect of expansionary monetary policy in economic contraction. Furthermore, the district system of interest rate has an apparent shift before and after the exchange rate reform, and interest rate, applied as the intermediate target of monetary policy is playing an important role.
		2013 Vol. 1 (5): 140-144 [Abstract] ( 3998 ) [HTML 1KB] [ PDF 1072KB] ( 2129 )

	145	Research on Interaction of RMB Exchange Market Pressure and Monetary Policy
		PANG Xiao-bo,HE Guang-yu,REN An-chang
		This paper analyzes the effect of monetary policy and foreign exchange intervention of central bank on the gathering and relief of exchange market pressure by a combination of theoretical and empirical methods, such as non-model dependent method EMP index and Chinas monetary policy variables endogenous variable VAR model. The empirical results show that the pressure of RMB appreciation has a certain degree of interaction between the inflation rate and monetary policy variables the pressure of RMB appreciation does not significantly influence the pressure of RMB appreciation will inflation to some extent.
		2013 Vol. 1 (5): 145-149 [Abstract] ( 3229 ) [HTML 1KB] [ PDF 1021KB] ( 1903 )

	150	The Empirical Analysis of Relations between Currency Internationalization and Currency Swap
		YANG Rong-hai
		This paper studies the development level of United States currency swap and the degree of currency internationalization on the basis of their data of 2000-2011. It is found that there is an obscure explanation between the development levels of currency swap and the currency internationalization of U.S. dollar over the short term. But the currency swap gives an impetus to the dollar-denominated financial product in international financial market, and also effectively enhances the internationalization level of dollar in the longer run. On the other hand, the internationalization of dollar will expand the domestic currency swap over the short term. But from a long-term perspective, it is of no effect on currency swap. Priority should be given to developing the currency swap markets. With the development of the market, it would resist the impact of the financial market from the overseas markets, and finally achieve the aim of RMB as an international reserve in international economic relations.
		2013 Vol. 1 (5): 150-154 [Abstract] ( 3155 ) [HTML 1KB] [ PDF 759KB] ( 1961 )

	155	The Empirical Analysis of Financial Development and the Composition of International Capital Flows
		LIU Jian,WANG You-xin
		The paper analyzes the size and the composition of international capital flows by gravity model. The empirical analysis shows that financial development plays an important role on the scale and the composition of international capital flows. With the improvement of financial development, the share of equity investment in the total investment is larger, and the share of bond investment is lower. In addition, the impact of financial development on different types of capital flows are different, with equity is most sensitive to financial development, followed by FDI, and then is bond investment.
		2013 Vol. 1 (5): 155-160 [Abstract] ( 3828 ) [HTML 1KB] [ PDF 770KB] ( 1995 )

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