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Economic Survey

	2016 Vol.33 Issue.6 Published 2016-12-15

	1	Spatial Externalities, Utilization Capabilities and Economic Growth
		QIN Cheng-lin, GONG Wei-jin, LU Jian
		Utilization Capabilities is defined as the ability to initiatively transform the spatial externalities generated by neighbor regions into the capacity of the region’s own economic growth. Based on the theoretical and empirical analysis, the composite SDM model is used in the paper to analyze how the difference of utilization rate lead to the different growth rate of the target area which is affected by the same spatial externalities. The paper reveals the effect of spatial externalities on regional economic growth, and has gained the political enlightenment on promoting economic development. On the one hand, the area should act more proactively in use of spatial externalities and utilization capabilities. On the other hand, to enhance the regional utilization capabilities, the area could improve the quantity and quality of human capital.
		2016 Vol. 33 (6): 1-6 [Abstract] ( 2058 ) [HTML 1KB] [ PDF 785KB] ( 1268 )

	7	Research on the Efficiency of Regional Economy in Henan Province Based on DEA
		LIU Rong-zeng, FAN Lin-lin
		Based on the relative efficiency evaluation of data envelopment analysis (DEA), with 18 cities in Henan province as research object, the paper makes an empirical analysis on the efficiency of regional economy in Henan province. The result shows: In the aspect of effectiveness (DEA), the overall economic efficiency of six cities including Zhengzhou, Kaifeng, Luohe, Nanyang, Zhoukou, Jiyuan is relatively optimal, so these cities are in DEA efficient state. In the aspect of economies of scale, the scale of eight cities including Zhengzhou, Kaifeng, Luoyang, Luohe, Nanyang, Shangqiu, Zhoukou, Jiyuan is comparatively optimal. In the aspect of the projection analysis of production frontier, seven cities including Zhengzhou, Kaifeng, Xuchang, Luohe, Nanyang, Zhoukou, Jiyuan have no input and output redundancy and are located on the production frontier. Some suggestions are proposed to enhance the efficiency of regional economy in Henan province, including transferring surplus labor, improving energy utilization, narrowing the income gap between urban and rural areas, and promoting scientific and technological innovation, strengthening regional cooperation, etc.
		2016 Vol. 33 (6): 7-12 [Abstract] ( 2053 ) [HTML 1KB] [ PDF 877KB] ( 1364 )

	13	Dynamic Correlative Analysis between Scientific and Technological Innovation and Regional Competitiveness Based on Extension Evaluation
		DONG Hui-zhong, ZHANG Feng
		From the perspective of factors influencing the regional competitiveness of scientific and technological innovation, apply the idea of extension to build the “input-output-guarantee-potential” conceptual model. Using this model to evaluate the regional competitiveness of 2002-2012,this paper predicts the regional competitiveness level and regionsvarious areas of scientific and technological innovation and regional competitiveness level difference in eastern, central and western regions. Research results show that scientific and technological innovation rapidly promotes the regional competitiveness level, but there are short factors such as R&D expenses mismanagement. Regional geography and cultural differences lead to different regional competitiveness level, but it can be promoted rapidly through increased investment in scientific and technological innovation, and central and western region development is very fast. The method of extension evaluation has high flexibility to analyze the dynamic correlative level between scientific and technological innovation and regional competitiveness, and can provide a method for reference.
		2016 Vol. 33 (6): 13-18 [Abstract] ( 1602 ) [HTML 1KB] [ PDF 1289KB] ( 1185 )

	19	Provincial Knowledge Spillover Effect Analysis of China Based on Spatial Measurement
		ZHAO Xi-cang , PAN Zhi-ang
		The essay uses spatial autocorrelation Moran’I, spatial error model and spatial lag model of spatial econometrics, combined with improved Romer-Jones Knowledge Production Function(KPF),to analyze spatial knowledge spillover effects of china. Analysis results show that R&D input, R&D personnel, stock of knowledge, and foreign introduced technology have the positive contribution for the production of new knowledge, the contribution degree of various factors is different, among them, the average contribution rate of the stock of knowledge is the biggest (0.460).The production of new knowledge of China has provincial spatial spillover effect. With new knowledge production of surrounding areas an average growth of 1%, the region’s new knowledge production will increase by an average of 0.469%.
		2016 Vol. 33 (6): 19-24 [Abstract] ( 1824 ) [HTML 1KB] [ PDF 1172KB] ( 1050 )

	25	The Role of the Internal Levels of Tertiary Industry in Urbanizaion Development ——Based on Panel Data of Five Provinces
		ZHANG Xiao-qing, ZHANG Xiao-wan
		According to the experience of developed countries, the higher the urbanization level, the level of comprehensive economic development is much higher. Meanwhile, the vigorous development of the tertiary industry is the main stream of the economic development. By using the underlying data of the subdivision levels of tertiary industry and the urbanization rate, the establishment of panel data model shows that each level of tertiary industry plays a part in driving urbanization in varying degrees: the promoting function of the second level for urbanization is the largest, it’s about 2.4~3.3 times of the first level, and the first level is 1.3~1.8 times of the fourth level;the third level shows a negative effect on urbanization. Therefore, we should give full play to the advantages of traditional service industry, develop modern service industry vigorously, promote the government to play a leading role in urbanization, perfect the preferential policies for foreign investment, and give financial support for the import and export trade and the tertiary industry.
		2016 Vol. 33 (6): 25-30 [Abstract] ( 2106 ) [HTML 1KB] [ PDF 835KB] ( 1353 )

	31	Analysis on the Dynamic Evolution of Regional Eco-Efficiency in ChinaBased on Super Efficiency DEA Model
		CHEN Zhen-ling
		Resources and environment have become important factors of regional economic development. How to coordinate the economic development and the development of resources and environment and how to obtain the best economic benefit at the minimum ecological cost have become a key problem facing China. By introducing the super-efficiency DEA model, the paper evaluates comprehensively the eco-efficiency data in 30 regions in China from 2003 to 2012 and tries to seek the changing trend and spatial-temporal characteristics of regional ecological efficiency. By building the Malmquist model, the paper analyzes the factors of regional eco-efficiency from the angle of technical progress and technical efficiency. The result shows that: The regional differences of eco-efficiency do not present the regional pattern of the East, the Central and the West, but present the regional trend of “higher of East and West, lower of Central” in China. Judging from the factors which would influence the eco-efficiency, technical progress has become the major factor that leads to the change of eco-efficiency, and the scale effect present a decreasing trend. Finally, by the above analysis ,the paper proposes some suggestions on how to improve the eco-efficiency and how to coordinate resources and environment and regional economy.
		2016 Vol. 33 (6): 31-35 [Abstract] ( 1886 ) [HTML 1KB] [ PDF 679KB] ( 1589 )

	36	Analysis on Determinant Factors of Consumer Trust in Organic Agricultural Products —— Based on a Consumer Survey in Shenyang
		YANG Xiao-li, SUN Ya-nan, ZHANG Ping
		In recent years, food safety incidents happened frequently in China, raising consumers’ attention to organic foods. Through empirical analysis on data collected from a sample survey on consumers of large supermarkets in Shenyang, this paper uses a single indicator and a composite indicator to obtain the degree of consumer trust in organic foods and analyses the factors influencing consumer trust. The results show that current consumer trust in organic foods is not high and the key factors influencing the consumer trust in organic foods include systems, circumstances, purchase funnels and reputation of enterprises and brands. Furthermore, customers who can accept higher price and pay attention to health and who get married or well-paid are more likely to trust organic foods.
		2016 Vol. 33 (6): 36-41 [Abstract] ( 1973 ) [HTML 1KB] [ PDF 1137KB] ( 1392 )

	42	Capitalization and Direct Disposal: The Research of Farmers’ Willingness of Homestead Usufruct Abdication
		LIU Tong-shan
		The survey results show that farmers have strong willingness to rural homestead usufruct abdication. To analyze the influence factors of farmers' willingness, based on the farmers homestead usufruct abdication decision model, and in the light of the degree of breakaway between farmers and homestead,this paper subdivides the rural homestead usufruct abdication into two categories, capitalization (potential abdication) and direct disposal (completely abdication). Then it uses the mvprobit model to analyze the influence factors, the result shows that the farmers' willingness on rural homestead usufruct abdication is significantly affected by age, educational level, household population, information contact, relations with neighbors and other factors.
		2016 Vol. 33 (6): 42-47 [Abstract] ( 1645 ) [HTML 1KB] [ PDF 858KB] ( 1265 )

	48	Wages of Migrant Workers and Social Networks ——The Cause Effect Analysis Based on the Relationship Strength and Relational Resources
		ZHUO Ma-cao, KONG Xiang-li
		According to the questionnaire survey of migrant workers in 2015, the author has made a quantitative study to investigate whether the migrant workers use social relationship to find a job and the effectiveness of the relationship. The paper systematically verify the impact of relationship, “contacts” and the relational resources on migrant workers’ wages. Study has shown that nearly 83% of migrant workers rely on social networks to achieve migration and employment. No matter the relationship they use is strong or weak, it has significant positive impact on their income, and “contacts” who are friends and relatives based on blood and geography play a particular vital role. The real reason that Social Networks would effect the wages of migrant workers lies in that the migrant workers can get different resouces from it, including information and help. The different network resources determine the mode and result of social capital.Based on the above analysis, the author proposes to establish and perfect a service system of migrant workers with government as the leadership and the society participates in organization. By accelerating the construction of a unified labor market, the system would help to promote fair employment and optimize social network of migrant workers.
		2016 Vol. 33 (6): 48-53 [Abstract] ( 1763 ) [HTML 1KB] [ PDF 830KB] ( 1161 )

	54	Analysis on the Influence Factors of Chinese Grain Price
		WANG Yi-fei
		Based on the monthly data from 2004 to 2015, the paper uses the regression analysis to discuss the influence factors of wheat, rice, corn and soybean, the four grain crops. The result shows that international grain price demonstrates a positive correlation with the price of rice and soybean in China. International crude oil price shows a positive correlation with Chinses rice and corn, whereas a negative correlation with Chinese soybean. Grain cost displays a remarkable positive correlation with the price of Chinese wheat, rice and corn. Generalized money supply demonstrates a positive correlation with the price of Chinese wheat, rice and corn. Increasing grain self-sufficiency ratio and the intensity of subsidies, and making scientific macroscopical policy have great theoretical and practical significance of the stability and development of grain industry.
		2016 Vol. 33 (6): 54-59 [Abstract] ( 1635 ) [HTML 1KB] [ PDF 1110KB] ( 1080 )

	60	Research on Selection Mechanism and Strategy of Global Production Networks Agglomeration in Multinational Companies ——Based on the Analysis of Extended New-New Theoretical Model
		PANG Lei
		Based on the extended new-new trade theory, from the perspective of organization forms and the choice of geographical location, the paper establishes a two countries, two production-link, and one element-input theoretical model. With the model, the paper investigates the spatial agglomeration mode of Global Production Networks (GPN), and uses the panel data of 39 industries in United States from 2002 to 2013 to conduct an empirical test. The result shows that in terms of industrial factors, industry production efficiency and R&D investment have a positive impact on GPN, whereas the intensity of capital and the average scale of industry have inhibitory effect on GPN. On the country level, market scale, technical level, institutional environment, and wage level of the host country are four indicators to improve and attract investments from multinational companies.
		2016 Vol. 33 (6): 60-65 [Abstract] ( 1723 ) [HTML 1KB] [ PDF 766KB] ( 988 )

	66	An Analysis on the Motives of China’s Outward Direct Investment in Africa ——Also a Discussion on the Influence of Host Country Policies
		MU Xiu-ru, LI Rong-lin, MENG Han
		Based on the Heckman model, the paper applies the panel data of China’s outward foreign direct investment (OFDI) in Africa to analyze comprehensively the motives of China’s direct investment in Africa. The result shows that: the market scale, the price of the labor force, the resources endowment and the political environment of host country are important elements of China’s OFDI. China shows different motives in investment selection stage and investment scale stage, resource seeking is only one of the motives. The political and economic system would influence the investment selection and investment scale of OFDI with different motives.
		2016 Vol. 33 (6): 66-71 [Abstract] ( 2117 ) [HTML 1KB] [ PDF 840KB] ( 1168 )

	72	Threshold Effect of Foreign Exchange Reserve on Economic Growth ——Based on the Perspective of Financial Development
		MA Ye-chi, FU Jing-hui
		The paper takes major developed countries and emerging-market countries and regions of the world as research objects, and analyzes the impact of foreign exchange reserves on economic growth in different financial markets with the threshold panel model. The result shows that for all countries, the financial market could boost their economies at some certain level, but could restrain economic growth when above certain level. For emerging-market countries or regions, the growth of foreign exchange reserves has a positive effect on economic growth at a merely low level of the financial market. For developed countries, the higher the level of financial market development is, foreign exchange reserves have more positive impact on economic growth. In addition, the East Asian financial crisis has a bigger effect in emerging-market countries than in developed countries, but the global financial crisis in 2008 is just the opposite.
		2016 Vol. 33 (6): 72-77 [Abstract] ( 2222 ) [HTML 1KB] [ PDF 831KB] ( 1107 )

	78	The Impact of Value-Added-Tax Reform on Export Binary Margin ——An Empirical Analysis Based on Gravity Model
		WANG Xiao-qin,ZENG Yu
		Based on the New-New trade Model of heterogeneous enterprise framework and the classic literatures in related fields, this paper intended to explore the effects of China’s Value-Added-Tax (VAT) reform on export from the sights of both extensive margin and intensive margin by using 2004-2013 foreign trade data in China. The study shows that with transition of VAT from production type to consumption type, VAT demonstrates remarkable influence on export on the two margins. These influences are mostly reflected through the intensive margin. The regression results based on regional samples show that the VAT reform effects mainly exist in trade with developing countries, and not significant in trade with developed countries.
		2016 Vol. 33 (6): 78-83 [Abstract] ( 1786 ) [HTML 1KB] [ PDF 839KB] ( 1166 )

	84	The Impact of China’s New Urbanization Development Level on Agricultural Industry Structure
		YANG Jun
		According to panel data of 30 provinces from 2003 to 2013 and through the entropy method on the basis of measuring new urbanization development level, this paper studies the impact of new urbanization development level to agricultural industry structure. The result shows that the new urbanization development level is showing an increasing trend from 2003 to 2013, but the regional difference is more significant. For the country, the Central and the West, the impact of new development to agricultural structure are characterized by the presence of inverted U-shaped curve, but for the East inverted U-shaped curve does not exist,on the contrary, there is a positive correlation. While factors like per capita agricultural land area and agricultural expenditure proportion have an impact on agricultural structure from different aspects. Therefore, it is necessary to establish land protection mechanism, encourage agricultural scale, industrialized and organized production and management methods, thus promoting the rapid development of regional reasonable agricultural structure.
		2016 Vol. 33 (6): 84-89 [Abstract] ( 2420 ) [HTML 1KB] [ PDF 871KB] ( 1459 )

	90	The Characteristics, Mechanisms and Solving Approaches of Industrial Hollowing-out in China
		ZHAO Ke-xiang, YANG Xiu-yun, YE Hong
		Based on the hollowing-out observations in the US, Japan and South Korea, as well as the new characteristics of high degree of isomorphism and lack of industrial core technology shown in the hollowing-out, the paper points out firstly at the beginning that the essential reason for China’s hollowing-out should be the efficiency of resource allocation rather than the structure.Then from the perspective of resource allocation efficiency, by introducing the simple nonlinear function model of the Bifurcation Theory from Masahisa Fujita and Krugman, the paper points out that the formation mechanism of China’s industrial hollowing-out is similar to that of the regional industrial agglomeration with fuzzy boundaries, and redefines the definition of China’s “industry hollowing-out” combined with the factual features. Finally, the efficient preventive approach of industrial hollowing-out will be the realization of industrial upgrade during the period of homogenized competition. Or the original restrictions need to be broken after appearance of hollowing-out, and the best opportunity for solving it arises in early stage of industrial recession.
		2016 Vol. 33 (6): 90-95 [Abstract] ( 2044 ) [HTML 1KB] [ PDF 998KB] ( 1220 )

	96	Industry Linkages and Spatial Distribution of Producer Services ——An Analysis Based on Urban Panel Data Spatial Econometrics
		CHEN Jie, WANG Yao-zhong
		Based on the model of spatial distribution of producer services and related industries,on the basis of the new economic geography, by using the panel data of prefecture level cities in China and spatial econometric methods, the paper examines empirically the impact of related industry development on the spatial distribution of producer services in local and neighboring areas. The result shows that manufacturing industry is most closely related to producer services, development of manufacturing impels the decentralization of local producer services, and thus causes a remarkable spillover effect on neighboring areas. From the perspective of urban agglomeration, the development of manufacturing industry in different regions have similar impacts on local producer services, only the manufacturing industry in the eastern areas causes dispersed layout of producer services. From the perspective of industry segments, there are significant differences in the influences of manufacturing development on local and neighborhood spatial distribution of producer services.
		2016 Vol. 33 (6): 96-101 [Abstract] ( 1759 ) [HTML 1KB] [ PDF 691KB] ( 1130 )

	102	Financial Flexibility, the Level of Corporate Governance and Over-investment
		WANG Man, SHA Xiu-juan, TIAN Min-hao
		Using the data of China’s A-share listed company during 2009-2014 in the capital market, this paper analyzes the influence of the financial flexibility of over-investment as a whole with the Richardson (2006) over-investment model. In addition, through the introduction of corporate governance variables and the construction of corporate governance index according to the level of corporate governance elements, the corporate governance will be divided into different groups according to the corporate Governance Index. The paper also studies the influence of the financial flexibility to over-investment at different levels of corporate governance. The result shows that company's financial flexibility has a significant impact on the over-investment. The company that has the higher financial flexibility tends to have over-investment; the high level of the corporate governance can reduce the enhancement of the financial flexibility to overinvestment, this the higher is the level of corporate governance, the lower is the effect of the financial flexibility to over-investment.
		2016 Vol. 33 (6): 102-106 [Abstract] ( 1921 ) [HTML 1KB] [ PDF 672KB] ( 1362 )

	107	Internal Capital Market, Manager Lobbying and Controlling Shareholder Propping
		HE Yong
		This paper uses lobbying to analyze the internal capital allocation of business group, and establishes manager relative lobbying power index (RPI) according to the manager’s service time, the serving time, whether served or serving as the middle duties and whether serving as group board director. Using group-controlled companies’ data in financial crisis to evaluate the manager’s RPI in the group, the paper examines the correlation between the manager’s RPI and the propping of group’s controlling share holder. The result shows that the larger the manager’s RPI, the greater the impact on the group’s controlling shareholder propping. Manager shareholding and components of the manager’s RPI have no significant influence on propping.
		2016 Vol. 33 (6): 107-112 [Abstract] ( 1687 ) [HTML 1KB] [ PDF 853KB] ( 995 )

	113	Shareholder Relations, Cash Holding Level and Value
		CHAI Bin-feng, YE Bin, ZHU Zhao-hui
		From the perspective of incidence relation, similarities and differences of stock ownership, and the identity of company promoters, this paper studies how relations between the shareholders impact the cash holdings level and the value of the cash holdings and the functionary mechanism. The results show that the existence of relationship between shareholders or the same equity nature will reduce the cash value; On the contrary, the shareholders concurrently as the promoters will boost the value of corporate cash holdings. The mechanism that shareholders have impact on cash holding value mainly embodies as that the existence of shareholder relations will strengthen the negative correlation between free cash flow and enterprise investment efficiency.
		2016 Vol. 33 (6): 113-118 [Abstract] ( 1998 ) [HTML 1KB] [ PDF 761KB] ( 1298 )

	119	Media Coverage and Inflation ——A Study Based on Baidu Media Index
		LIU Jian-wen, GUO Xue-meng
		Firstly, the paper introduces Bayesian theory into a Morris and Shin’s “Beauty-contest” model to study the correlation of media coverage and inflation from a micro perspective. The research demonstrates that through Bayesian posterior mechanism, media coverage causes market overreaction and thus enhances inflation. Furthermore, based on Baidu “media index” data, SVAR analysis shows inflation increase with media coverage, and media coverage contributes about 20% to inflation. Therefore, the study shows that government should communicate with the media when controlling inflation, on the other hand, the media should also be more relation and objective to avoid economic fluctuations when reporting inflation.
		2016 Vol. 33 (6): 119-124 [Abstract] ( 1831 ) [HTML 1KB] [ PDF 1014KB] ( 999 )

	125	Monetary Policy on Inflation and Asset Prices Shock Effect ——Based on the Analysis of Monetary Search Theory
		PANG Xiao-bo, QIAN Kun
		Monetary Search Theory offers hypotheses about the nonlinear relationship among money, commodity prices and asset prices, in order to facilitate the monetary authorities to grasp the opportunity to intervene in prices and asset prices in different economic status more accurately. On the basis of the theory, the paper establishes the MS-VAR model to conduct empirical tests. The result shows that money supply and interest rate adjustment can have an impact on the stock market in the downturn of the stock market. When the stock market boom, it is more appropriate to use interest rate to inhibit the rise of asset price. The central bank should intervene in the asset price when necessary, pay attention to use a variety of tools, and place a particular emphasis on one aspect in different periods to control and coordinate price regulation.
		2016 Vol. 33 (6): 125-130 [Abstract] ( 1856 ) [HTML 1KB] [ PDF 1064KB] ( 985 )

	131	Land Financial Dependence, Property Tax Substitution and Mode Choice
		LIU Hui-hong, FAN Ding-xiang
		On the basis of the provincial level of the real estate market data and financial data, by introducing the fixed effect model and making regression analysis of the data, the paper calculates quantitatively how the real estate market affects land finance. With the empirical results, the paper conducts numerical simulation and comparative analysis on the modes of tax levy. Research shows that the current real estate tax, land value-added tax, urban land use tax, farmland occupation tax should be incorporated into the property tax in the future in order to maintain the stability of the local fiscal. At the same time, the policy that the first set of residential real estate can exempt from taxation can not only reduce the resistance of the reform, but also help to maintain the stability of financial revenue. This study provides a solution for future property tax reform model, and also provides a credible point of view that the property tax can become the main local tax.
		2016 Vol. 33 (6): 131-136 [Abstract] ( 1871 ) [HTML 1KB] [ PDF 1077KB] ( 1052 )

	137	Capital Adequacy, Business Background and Platform Collapse ——Evidences from 231 Online P2P Lending Platforms in China
		LI Xian-ling
		The paper uses the Logistic model to analyze the self-regulation of network lending platform and the level of risk control. Based on the micro data of 107 closed platforms and 124 normal ones in China, the study reveals that the financial background, registered capital and self-supervision of platforms could significantly reduce the probability of platform problems, while the excessive competition of industry could increase this possibility. It is essential for the government to issue policies to guide and promote P2P integration, and thus increase the scale management level of the platforms.
		2016 Vol. 33 (6): 137-142 [Abstract] ( 1882 ) [HTML 1KB] [ PDF 921KB] ( 1047 )

	143	The Empirical Analysis of Influence Factors of Internet Finance
		GONG Yao,GU Xiao-an
		The rapid development of the Internet Finance had scant impact on the operation mode of traditional finance. The question what factors influence and determine the mode of Internet Finance’s development attracted many people’s attention. On the basis of the past researches, the author summarizes the 5 factors that influence Internet Finance. Based on the related index from 2004 to 2013, the author uses entropy value method to conduct empirical analysis. The result shows that among the influence factors, the characteristics of Internet users have the largest impact on Internet Finance; in the specific indicators, “online sales” is the most important index to Internet Index, and the influence of “interest rate” is not significant to the development of the Internet Finance.
		2016 Vol. 33 (6): 143-148 [Abstract] ( 1737 ) [HTML 1KB] [ PDF 901KB] ( 957 )

	149	Credit Rating, Rating Agent Heterogeneity and Bond Spread
		QU Guang-yu,LIANG Zhu
		The paper selects 384 unguaranteed fixed-rate non-financial corporate bonds issued from in January 2011 to April 2013 to examine the impact of credit rating on the bond spreads. Empirical studies find that the issuer’s financial information and credit ratings could significantly explain bond spreads; in the sample of Dagong, Lianhe and Zhongchengxin, after peeling the financial information in the credit rating, the credit rating has significant incremental explanatory power on the bond spreads, while Pengyuan credit rating does not. This reflects the heterogeneity among rating agencies, which means one cannot regard the same rating rated by the different rating agency as the same. The findings of the paper have important implications for the bond market investors.
		2016 Vol. 33 (6): 149-154 [Abstract] ( 1917 ) [HTML 1KB] [ PDF 762KB] ( 1359 )

	155	Does Capital Regulation Promote China Banking Industry Efficiency？ ——An Empirical Study Based on Two Stage DEA Intertemporal Comparison Model
		ZHANG Ling,ZHANG Sheng
		Based on 2006~2011 panel data of 25 commercial banks in china, the paper measures the banking industry efficiency driven by capital regulatory with the model of two stage DEA intertemporal comparison. Through the changes of the input redundancy ratio and output loss ratio, the paper completes intertemporal comparison of two stage DEA. The result shows that: capital regulation promotes china banking industry efficiency by improving banking capital using efficiency and risk management level; capital supervision promotes the efficiency of the big banks more compared to smaller banks; and for the small and medium banks, the non-interest income business still has a great potential. Therefore, regulators should steadily push forward capital regulation to promote banking efficiency; commercial banks should strengthen capital management, optimize the business structure, implement differentiation strategy to raise bank operating performance.
		2016 Vol. 33 (6): 155-160 [Abstract] ( 1906 ) [HTML 1KB] [ PDF 1265KB] ( 1192 )

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