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Economic Survey
 
2015 Vol.32 Issue.6
Published 2015-11-10
1 The CO2 Emissions Effect of Chinese Industrial Geographical Agglomeration ——An Empirical Research Based on STIRPAT Model
WANG Yong-pei, YAN Wei-long, GUO Xiao-fei
In order to thoroughly analyze the effect of industrial agglomeration on emission scale and emission intensity, this paper makes an empirical research on the effect mechanism of industrial agglomeration on CO2 emissions based on an extended STIRPAT model using panel data of 36 manufacturing industries from 1996 to 2010. The study found that industrial agglomeration would play the dual role that improve the volume of CO2 emissions and decline the growth rate of emissions intensity which called Scale Effect and Intensity Effect. Meanwhile, the market concentration and the dominant position of state-owned enterprises play an important role in binding the industry carbon emissions.
2015 Vol. 32 (6): 1-5 [Abstract] ( 2291 ) [HTML 1KB] [ PDF 632KB] ( 1819 )
6 A Research on Eco-Tourism Destination Images, Tourist Satisfaction and Destination Loyalty ——Taking Geopark Mount Yuntai as an Example
QIAO Guang-hui

This paper makes an comprehensive analysis based on the tourism destination image research literary at home and abroad, taking eco-tourists Yuntai mountain world geological park’s tourist image perception, cognitive image and tourist satisfaction and loyalty as the research content, carries on a dynamic comparison of the ecological tourist image. And ANOVA is used to test the differences of tourist satisfaction and destination loyalty according to social demographic characteristics, which reveals “gender” “marital status” and “educational background” are the main reasons for the differences.
2015 Vol. 32 (6): 6-10 [Abstract] ( 2196 ) [HTML 1KB] [ PDF 762KB] ( 2203 )
11 Wages, Labor Productivity and Comparative Advantages of the Manufacturing Industries in Henan Province
LIU Dong-xun, LI Xin-xin
Based on the data set from Henan province statistical yearbooks from 2001 to 2012, this paper utilizes SFA estimated the marginal productivity of labor of the industries in Henan province. The results show that RCLs in Henan province are lower in the majority of labor intensive industries which show obviously comparative advantages. Moreover, along with accepting more investment in Henan, capital per capita and MPL are rising, and further advances the comparative advantages of Henan’s industries.
2015 Vol. 32 (6): 11-16 [Abstract] ( 2455 ) [HTML 1KB] [ PDF 797KB] ( 1517 )
17 A Study of the Spatial Disparities and Changes of Regional Innovation Capability ——Based on the Method of Improved TOPSIS-Theil and Panel Data
GUI Huang-bao
This study, employing the method of improved TOPSIS and Theil entropy, builds innovation capacity index and measures the regional difference of innovation capabilities based on panel data from 2000 to 2012 in China. The results show that the gaps of the regional innovation capabilities between different regions are large, and furthermore, the gaps reveal expanding tendency. Moreover, this study finds that the small gap of innovation capability take place in the Yangtze River Delta, northeast and central regions and the large gap exist in the northwest and southeast regions. Finally, this study illustrates that the innovation-capability disparities between different regions are the prior factor influencing the gaps of regional innovation capabilities, while the internal differences of different regions have less impacts.
2015 Vol. 32 (6): 17-22 [Abstract] ( 2418 ) [HTML 1KB] [ PDF 965KB] ( 1659 )
23 An Analysis of Chinese Leading Agricultural Enterprises’ Operating Efficiency and its Influence
CUI Bao-yu , LIU Xue
Employing DEA-BCC and Tobit Model, this paper tests the operating efficiency of 411 agricultural leading enterprises and analyzes the influence factors. The results show that the operating efficiency of agricultural leading enterprises in different provinces is on the low side as a whole and varies much among provinces; pure technical efficiency is mainly responsible for the low operating efficiency; vital resource for improving the operating efficiency lies in R&D investment and labor efficiency; velocity of liquid assets exercises inconsistent efforts on enterprises in eastern, central and western areas; and enterprise scale, forms of ownership, financial support, advertisement input have no significant effect on development of agricultural leading enterprises’ operating efficiency.
2015 Vol. 32 (6): 23-28 [Abstract] ( 2335 ) [HTML 1KB] [ PDF 764KB] ( 2604 )
29 A Study on the Efficiency of Main Grain Producing Area’s Agricultural Production Structure and Growth Based on Shift-Share Method: 1980-2012
LUO Hai-ping, SONG Yan
The paper makes an empirical research on 13 major grain producing areas in China from 1980 to 2012, and the their of farming, forestry, animal husbandry and fishery structures, locations, competitive advantages and benefits based on shift-share method. Results show that grain processing capacity and production capacity in China is relatively weak, agricultural production and grain production seriously distorted in farming, forestry, animal husbandry and fishery dominated by plantation agriculture dominates, but declining. Departure from agricultural production value growth potential and actual growth, grain structure of agricultural production efficiency, growth and integration benefits gap significantly. To ensure grain security in major grain-producing areas, must increase grain production and value enhancement, second-largest agricultural industry is encouraged and supported types, gradually forming a stable and diverse patterns of agriculture, build “agricultural special zone” to increase grain production.
2015 Vol. 32 (6): 29-34 [Abstract] ( 2148 ) [HTML 1KB] [ PDF 773KB] ( 1565 )
35 A Study on the Influence Factors of the Upgrading of Agricultural Industry Clusters ——An Empirical Research Based on Six Main Agricultural Industry Clusters in Hunan Province
XU Xuan, LAN Yong
Based on the panel data of agricultural economy in Hunan Province during 2001-2013, by using canonical correlation analysis, the author studies the effects of resource, economy, technology and environment on the upgrading of the six main agricultural industry clusters in Hunan Province. Results show that the number of agriculture products processing enterprises and technological advance are the most important factors in the upgrading of agricultural industry cluster in Hunan Province. Therefore, it is advisable to promote agricultural industry cluster upgrading through scale economy and technological innovation.
2015 Vol. 32 (6): 35-40 [Abstract] ( 2332 ) [HTML 1KB] [ PDF 798KB] ( 1556 )
41 A Revelation of the True State of Sino-US and Sino-Korea Bilateral Trades in Value-Added Statistics
ZHANG Jian-qing, ZHENG Yu-nan
Based on the newest statistics from OECD-WTO database, this paper adopts the Multilateral Trade in Value Added Model to reevaluate the true state of Sino-US and Sino-Korea bilateral trades. The results show that traditional statistical method distorts Chinese foreign trade reality and worsen trade friction China suffers. The ratio of two export sum under different statistical method is 73%, which means the value added method significantly cuts down Chinese high and unfair export and the net trade volumes between China and its principal trade partners are mostly overvalued. The proportions of over-valuation in Sino-US and Sino-Korea net trade are respectively 250% and 31%. In addition, compared with traditional trade volumes, the real bilateral net trades in most industries have also undergone significant changes.
2015 Vol. 32 (6): 41-46 [Abstract] ( 2084 ) [HTML 1KB] [ PDF 954KB] ( 3114 )
47 RMB Effective Exchange Rate Index: Based on Currency Baskets of China’s Net Import and Net Export Partners
WANG Yang, RONG Jing
Taking the characteristic of China’s foreign trade into consideration, this paper created the net import partner and net export partner currency baskets based on the currency baskets of traditional RMB effective exchange rate, and measured the fluctuation of RMB effective exchange rate from the view of China’s net import partners and net export partners respectively, thus made an effective supplement for the traditional RMB effective exchange rate. Based on that, the author analyzes the phenomenon of China’s long term trade surplus, and it indicates that the appreciation of RMB exchange rate has little effect in addressing the problem. Additionally, while making comparison among the net import index, net export index and the BIS broad index, we conclude that the three indices are highly correlated; it is mainly due to the deep influence by US dollar. It is suggest thated the weight of US dollar should be reduced with reference to currency baskets.
2015 Vol. 32 (6): 47-53 [Abstract] ( 2007 ) [HTML 1KB] [ PDF 904KB] ( 1640 )
54 Do Outward Foreign Direct Investments Enhance the Capabilities of China’s Domestic Innovation？    ——Based on Provincial Panel Data from 2004 to 2010
SHA Wen-bing
This paper examines the impact of reverse technology spillovers of OFDI on China’s domestic innovation abilities based on knowledge production function, using provincial panel data from 2004 to 2010. We find that China’s OFDI has positive effects on the domestic innovation abilities measured by patent authorization. Further study reveals that OFDI has remarkable positive effects on the design patents and the utility model patents which represent lower level of innovation. But for the domestic invention patents which contain higher level of innovation, the results are different in different regions. OFDI has remarkable positive effects in the eastern region. While in the central and western regions, OFDI does not have significant effects on domestic invention patents. Differences in the scale of OFDI, types and motives of the investment enterprises and independent R&D activities are the main causes of these results.
2015 Vol. 32 (6): 54-58 [Abstract] ( 2554 ) [HTML 1KB] [ PDF 792KB] ( 1680 )
59 Importing Capital Goods and Firm’s Productivity ——Based on Chinese Manufacturing Enterprises
YANG Xiao-yun
Using matching data from China’s industrial firm database and the Customs database, this paper conducts regression analysis and propensity score matching method to examine the effect of importing capital goods on Chinese firms’ TFP. The results show importing capital goods can significantly enhance firm’s productivity, but the specific effects differ from kinds of firms. The effect for small firms is bigger than the large and medium-sized enterprises, and the effect for high-tech firms is bigger than low technology firms. The policy implication of this study is that to expand high-tech capital goods importing can improve firm productivity, and thus strengthen the competitive ability in the international market, which is conducive to the foreign trade development policies “stabilizing exports, expanding imports and promoting trade balance”.
2015 Vol. 32 (6): 59-64 [Abstract] ( 2492 ) [HTML 1KB] [ PDF 866KB] ( 3143 )
65 The “Chinese Demand” Decomposition and Explanation of International Non-Ferrous Metal Prices
ZHU Xue-hong,CHEN Jin-yu,ZHONG Mei-rui,GUO Yao-qi
This paper makes an empirical research on main “Chinese demand” to influencing international non-ferrous metal prices, and analyzes the dynamic relationship among gross industrial output value, total imports value, money supply and international non-ferrous metal prices by constructing a State Space Model of variable parameter with monthly data from 2001 to 2013. The result shows that: “Chinese demand” on the dynamic impact of international non-ferrous metal prices trajectories have changed dramatically in May 2009. The influence of “Chinese demand” on international non-ferrous metal prices became stable since May 2009, which reflects the trend that China's non-ferrous metals demand is gradually changing from rising period into stable period of Kuznets curve. Besides, the influence coefficients of gross industrial output value and total imports value to international non-ferrous metal prices are almost as positive, and as a result of the action of speculative inventory, contrary to expectations, the money supply has a significant negative relationship with the international non-ferrous metal prices overall.
2015 Vol. 32 (6): 65-70 [Abstract] ( 2412 ) [HTML 1KB] [ PDF 971KB] ( 3231 )
71 The Effect of Cultural Distance on China’s Cultural Products Export Trade ——An Empirical Study Based on Three Margin
TIAN Hui, YAN Shuai
Based on Hofstede’s cultural dimension theory, this paper proposes a revised gravity model, in which the data on export trade from China to the other 43 countries and regions from 1998 to 2012 are applied to examine the effects of total cultural distance and the cultural distance in each of the six dimensions between China and the 43 samples on China’s cultural product export (CPE) to them respectively. The research results show that the total cultural distance between China and each sample country /region has a negative effect on China’s CPE and double effects on the three margins of China’s CPE, i.e. the total cultural distance has a negative on the intensive of China’s CPE margin and quantity index of China’s CPE, but a positive influence on price index of China’s CPE; and cultural distances in different dimensions between China and each sample country /region has different influences on China’s CPE.
2015 Vol. 32 (6): 71-77 [Abstract] ( 3419 ) [HTML 1KB] [ PDF 1098KB] ( 2077 )
78 The Research of Chinese Industry’s Development and its Dependence Effects on Natural Resources ——An Analysis Based on SDA Method
LI Yu-zhong

Natural resource is important in the development of economic and social existence. With a systematic research at home and abroad, and based on the input and output of the basic identity, using the method of SDA, the paper builds a model to investigate the development of Chinese industry’s dependence on natural resources. By using China’s input and output basic data to measure the different sectors of domestic natural resources utilization value and SDA decomposition impact on natural resources, it is found that natural resource dependence is quite different in various industries; whereas the industry dependent on natural resources is on the rise, and resources external dependence is increasing.
2015 Vol. 32 (6): 78-82 [Abstract] ( 1974 ) [HTML 1KB] [ PDF 732KB] ( 1465 )
83 A Research on Value Formation Path of Brand Equity Based on Dual Perspectives of Enterprise and Consumer
LI Yi-min, GAO Pan, MENG Hua
Based on the brand equity theory, this paper uses enterprise and consumer sample data of apparel industry to investigate value formation path of brand equity. The results show that the direct influence of brand devotion on value formation of brand equity is not significant, whereas brand scale and brand place have a significant influence on value formation of brand equity. In the above mentioned process, brand identity, quality perception and brand popularity act as mediators. But in the effect of brand devotion, the role of brand identity, quality perception and brand popularity is not so significant. Moreover, evaluation acts as a moderator in the path effect of brand popularity on brand premium.
2015 Vol. 32 (6): 83-88 [Abstract] ( 2155 ) [HTML 1KB] [ PDF 882KB] ( 4659 )
89 A Study on the Relationship of Customer Participation, Psychological Empowerment and Customer Citizenship Behavior
FAN Jun, FU Sha-sha, GE Mi-na
In the process of services, customer participation has a positive effect on enhancing customer psychological empowerment and inspiring customer citizenship behavior. Based on theoretical analysis, in addition the questionnaire survey of 420 customers of training industry and structural equation model analysis, it is found that three dimensions of customer participation all have a significant positive impact on customer citizenship behavior and customer psychological empowerment, including the right to option, information and influence. Among three dimensions of psychological empowerment, the right to option and influence have a significant positive impact on customer citizenship behavior and have a partial mediating effect on the influence of the various dimensions of customer participation and customer citizenship behavior.
2015 Vol. 32 (6): 89-94 [Abstract] ( 2244 ) [HTML 1KB] [ PDF 983KB] ( 3313 )
95 A Path of the Impact of Intellectual Capital from Parent on Subsidiary Company’s Performance ——The Mediating Effect of Transfer Mechanism Between Parent and Subsidiary
GAO Juan,TANG Xiang-xi
Based on questionnaire data from enterprise group,this paper tests the influence of intellectual capital from parent on subsidiary performance using structural equation modeling.Results show that positive interaction effects are established between human capital,structural capital and relational capital from parent,however,the three dimensions of intellectual capital from parent aren’t significantly direct associated with subsidiary performance,the effect of intellectual capital from parent on subsidiary performance is completely mediated by both transfer willingness and capacity from parent and absorptive willingness and capacity from subsidiary,i.e.the mechanism of transfer intellectual capital between parent and subsidiary play a full mediating effect.
2015 Vol. 32 (6): 95-101 [Abstract] ( 2373 ) [HTML 1KB] [ PDF 906KB] ( 3138 )
102 Factual Controller Characteristics,Local Government Competition and Corporate Tax Avoidance
XIE Xiang-bing
Using the data of Chinese listed companies from 2006 to 2010,the research studies the effect of the factual controller nature and the local government competition and other factors on the corporate effective income tax rates in the context of China's transition system.The results show that private enterprises’ effective tax rates is significantly lower than the state-owned enterprises,the central state-owned enterprises’ effective income tax rates significantly lower than the local state-owned enterprises;after the income tax system changed in 2008,the degree that the regional environmental differences affect corporate tax avoidance is reducing;and the greater the degree of local government intervention to the market,the lower the effective income tax rate is,and the less the actual income tax rate difference between the in the private companies and state-owned companies is.These results suggest that the equity property characteristic and local economy development can influence corporate tax avoidance motivation and possibilities.
2015 Vol. 32 (6): 102-107 [Abstract] ( 2122 ) [HTML 1KB] [ PDF 840KB] ( 3888 )
108 An Empirical Research on Brand Attachment Effect on Customer Behavior Intention of Young Group in China ——Based on Mediating Effect of Brand Commitment
FAN Zhi-guo,GUO Jing-li
The existing literature shows that the effect of elevated attachment on evaluation about brand extensions is pronounced at the moderate levels of fit.However,few efforts have been made to reveal the essence of the relationship between the young group consumer and the brand under the brand extension conditions from the perspective of brand commitment.In this paper,we clarify the huge market potential of young consumer group and how brand attachment influences young group customer behavior intention from the theory.Through questionnaire survey of 259 valid respondents,it is confirmed that brand commitment plays an important intermediary role in the brand attachment and young group customer behavior intention;the brand and consumer self-concept congruity and customer oriented have positive effect on brand attachment.Therefore the enterprise must strengthen brand attachment on young customers,and through a variety of ways to enhance the brand commitment to affect customer behavior intention.
2015 Vol. 32 (6): 108-113 [Abstract] ( 2201 ) [HTML 1KB] [ PDF 866KB] ( 1712 )
114 Internal Capital Market Operation,Ownership Nature, and Capital Investment Efficiency
YUAN Fen-qiang
Based on the 2004-2010 Shenzhen,Shanghai listed a-share companies,by building decision model of capital investment efficiency about internal capital market enterprise and no internal capital market enterprise,the paper indirect compare the capital investment efficiency of internal capital market.In addition,through the introduction of enterprise ownership property,the paper also studied capital investment efficiency of internal capital market operation under different ownership property.Empirical study results show that the internal capital market companies have relatively higher capital investment efficiency than no internal capital market enterprise.The state-owned enterprises in the internal capital market relative have higher capital investment efficiency than the private enterprises.Central state-owned enterprise and local state-owned enterprises is no significant difference in capital investment efficiency.
2015 Vol. 32 (6): 114-119 [Abstract] ( 2189 ) [HTML 1KB] [ PDF 906KB] ( 1594 )
120 The Result Analysis of Pilot County Public Hospitals Reform in Henan Province ——An Empirical Study Based on Difference-in-Difference Model
ZHANG Rui,MA Yong-liang,CHEN Jie
There have been tremendous achievements in guaranteeing and improving health conditions in the grass-roots since the launch of a new round of health reform in 2009.Public hospitals,as the main health service providers,are the core and crux of medical reform.This paper develops a simple model of payment incentives and the model indicates that the proportion of costs that the hospital shares has an impact on the quality and cost-reducing mechanism.Then the paper uses 6 years’ data in 332 hospitals to assess the reform’s impact on pilot county public hospitals.The results show that healthcare reform has positive effect on reducing the cost of patients;has negative effect on healthcare quality,while has no significant effect on guiding patients to get primary treatment.
2015 Vol. 32 (6): 120-125 [Abstract] ( 2204 ) [HTML 1KB] [ PDF 892KB] ( 4385 )
126 Political Connection,Accounting Conservatism and IPO Under-Pricing
LI Guo-min,GAO Song
Based on the regression analysis and comparative analysis of 515 A-share companies that went public through IPOs at both Shanghai and Shenzhen Stock Exchanges in China during 2007-2010,the investigated into the relationship among political connection,accounting conservatism and IPO under-pricing.The results show that accounting conservatism is positively related to the magnitude of IPO under-pricing;investors can see into the real status of the enterprise and offer enterprise with accounting conservatism higher price;IPO enterprises with political connection are often with lower level of accounting conservatism but the influence of political connection on accounting conservatism is insignificant.
2015 Vol. 32 (6): 126-131 [Abstract] ( 2358 ) [HTML 1KB] [ PDF 831KB] ( 1687 )
132 A Comparative Study on Three Models for Credit Risk Identification in Chinese Commercial Banks
LIU Xiang-dong, WANG Wei-qing
This paper takes 325 listed companies of Chinese A-shares and their 2011 and 2012 financial data as testing samples, it employs the tests of normality, significance and correlation to choose effective credit risk identification indexes, and respectively uses the Bayes discriminant method, Logistic regression model and BP neural network model to distinguish credit risk, and then compares their accuracy, predictability and stability. The results show that the degrees of accuracy for identifying credit risks are gradually increasing by the above three models. However, there is still the probability that the company whose credit situation is unhealthy can be identified as healthy one. The important financial indicators identified by Bayes discriminant method and Logistic regression model can effectively explain the company's credit status, while BP neural network model is unable to interpret the recognition results. The results provide an important reference for selecting and using proper technology of credit risk identification in commercial banks.
2015 Vol. 32 (6): 132-137 [Abstract] ( 1955 ) [HTML 1KB] [ PDF 1120KB] ( 4570 )
138 An Evaluation of Capital Using Efficiency on China’s Banking and Trust Industry ——Based on the Comparison of Asset Management in Off Balance Sheet
WANG Quan-liang, DENG Xu-sheng
By using the Wurgler and Bayesian VAR model, this paper compares and analyzes the capital using efficiency of China’s banking and trust industry based on the Asset Management business in Off Balance Sheet. The results show that China’s capital using efficiency of trust industry is higher than that of the banking industry, but in some areas the trust industry’s efficiency is relatively low. Market reform promotes the capital using efficiency of trust industry which represents non banking sectors, and provides a source of power for the rapid development of these industries. However, to further accelerate reform will have an asymmetry impact on the entire financial industry.
2015 Vol. 32 (6): 138-142 [Abstract] ( 2156 ) [HTML 1KB] [ PDF 801KB] ( 1981 )
143 The Comparison of Stock Market Characteristics of China and Major Developed Countries
SHAO Yuan
Using stock market data from Wind and DataStream and economic data from the World Bank, this article studies the characteristics of stock market returns of China and five other developed countries around the world. The results show that the average return and volatility of Chinese stock market is much higher than those of other developed countries. Also, the stock market returns and economic growth is positively correlated in these countries. However, the Sharpe ratio of Chinese stock market return is not as high as its GDP growth.
2015 Vol. 32 (6): 143-148 [Abstract] ( 2413 ) [HTML 1KB] [ PDF 981KB] ( 1819 )
149 The Relationship of Chairman’s Overseas Education Background and Company Performance and the Medicating Role of Listed Period
ZHOU Lei, ZHANG Li-hua, WANG Huan
This paper uses GEM listed corporation data and empirical tested the relationship of Chairman’s overseas education background and ROE of these companies, as well as the mediating role of listed period. The empirical results show that overseas education background has significant negative correlation with listed period, and significant positive correlation with ROE. Meanwhile, listed period plays a mediating role between overseas education background and ROE.
2015 Vol. 32 (6): 149-154 [Abstract] ( 2123 ) [HTML 1KB] [ PDF 1028KB] ( 1957 )
155 A Research of the Volatility in Provincial Consumption Risk Sharing Cycle ——The Role of SME Credit Availability
CHEN Xiao-fan , XIANG Yu , ZHAN Song
The major concerns of current study on consumption risk sharing focus on consumption risk sharing level and channels, and ignored the consumption risk sharing cycle volatility and its reason. This study uses provincial panel data to examine how small and micro enterprises (SME) credit availability changes the cyclical dependence of risk sharing through SME owner’s income insurance mechanism. The results show that the extent of risk sharing is procyclical. Although SME credit availability’s influences on our provincial consumption risk sharing cycle is different, the income insurance mechanism of SME has already started to have an influence. Therefore, to increase the support to SME credit availability, and to promote small business owners income insurance mechanism to play a bigger role, is of great significance to smooth consumption and increase social welfare.
2015 Vol. 32 (6): 155-160 [Abstract] ( 2062 ) [HTML 1KB] [ PDF 1080KB] ( 1732 )
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