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Issues on Settlement of Final Expenses and Performance Assessment in the Course of Transition: Evidence from China
L? Wei, LIU Yusheng
Frontiers of Economics in china. 2006, 1 (1): 14-38.
https://doi.org/10.1007/s11459-005-0001-2
This paper studies the process and the performance of transition with the following logic: transition is an objective process in accordance with the general principles of economic history; the objectivity is embodied in the expected economic and social effects of transition, the profound economic and social changes in the course of transition, and the different problems facing different transitional stages. Transition is, at the same time, a subjective process involving the participation of the government and the public; the subjectivity is embodied in the thinking on transition, path selection, policy design, and process control. It requires evaluation, correction, and anticipation on the dynamic process with analysis tools and methods that are normally used to validate the subjective thoughts in the objective world to verify whether effects of the subjective action follow and develop the objective principles. It is under such a logical framework that issues on the settlement of final expenses and the performance assessment of transition raised in this paper focus on the improvement in traditional analysis tools and methods and further apply such improvement to China s course of transition. The rudimental premise in this study is the combination of the process of transition, all-roundness of development, and phases of evolution.
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Reform, Interaction of Policies, and Economic Growth: Evidence from China’s Provincial Panel Data
CHEN Zhao, LU Ming, YAN Ji
Frontiers of Economics in china. 2006, 1 (1): 48-68.
https://doi.org/10.1007/s11459-005-0008-8
Based on provincial panel data, we tested the effects of openness, denationalization, fiscal reform, and their interactions on Chinese regional economic growth. We found the following: (1) Openness, especially the growth of foreign-direct-investment/gross-domesticproduct ratio, has been important in enhancing China s growth since the mid-1980s, while this effect is not so significant in western China. (2) Fiscal reform is another significant factor for economic growth. If local governments deregulate, higher growth will be obtained. In particular, reducing extrabudget expenditure helps push economic growth, especially in western China. (3) The interaction of economic policies, such as openness, denationalization, and fiscal reform, also plays an essential role in local economic growth. Both for the whole nation and for the eastern area, denationalization does not affect growth independently but expands the effects of deregulation. (4) After controlling economic policies and their interactions, conditional convergence exists. (5) With other factors controlled, eastern China achieved higher growth, while the middle and western areas did not differ significantly in growth. (6)Western China, where policy variables have lower explanatory power for growth, has a growth pattern different from those of the eastern and middle areas.
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Informal Institutions, Consumption Custom, and Assumption of OLG Model—A Theoretical Analysis on Households’ Consumption Decisions in the Oriental Culture and Belief
HUANG Shao′an, SUN Tao
Frontiers of Economics in china. 2006, 1 (1): 140-152.
https://doi.org/10.1007/s11459-005-0014-x
Orthodox consumption theories have not incorporated the overlapping-generations (OLG) model and wealth-stock model, whereas this article explains households characters in consumption and savings in countries such as China and some other regions from the viewpoints of social convention, moral formation, ethics, and other informal institutions. The authors exploit and extend the OLG model, introduce the concepts of bequest, gift, and wealth preference to the economic agent s utility function, then apply optimal conditions to analyzing the characters and problems concerning consumption and savings behavior. Furthermore, they deliberate on the effects of this analysis on government macroeconomic policies and suggest some relevant theoretical thinking and solutions.
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