With the implementation of the CPC s eight-point regulation as a natural experiment platform, this paper seeks to unravel the causality between rent-seeking and firm peiformance for SOEs and private firms respectively...With the implementation of the CPC s eight-point regulation as a natural experiment platform, this paper seeks to unravel the causality between rent-seeking and firm peiformance for SOEs and private firms respectively. Our empirical research has found that after the release of the "eight-point regulation", investors responded negatively to private firms and positively to SOEs. Such market response is more significant for firms with a high degree of rent-seeking. Further research has found that rent-seeking helps both SOEs and private firms receive more subsidies from the government. While government subsidy from rent-seeking is conducive to the peiformance of private firms, it is not the case for SOEs. This implies that rent-seeking activities serve as a "lubricant" for private firms but have a "stumbling block" effect for SOEs.展开更多
A continuous-time stochastic model is constructed to analyze how to control rent seeking behaviors. Using the stochastic optimization methods based on the modem risky theory, a unique positive solution to the dynamic ...A continuous-time stochastic model is constructed to analyze how to control rent seeking behaviors. Using the stochastic optimization methods based on the modem risky theory, a unique positive solution to the dynamic model is derived. The effects of preference-related parameters on the optimal control level of rent seeking are discussed, and some policy measures are given. The results show that there exists a unique solution to the stochastic dynamic model under some macroeconomic assumptions, and that raising public expenditure may have reverse effects on rent seeking in an underdeveloped or developed economic environment.展开更多
Although achieving impressive economic growth during the economic reform period, China has been plagued by rampant corruption and a widening income gap. How can the coexistence of these two phenomena be explained？ In...Although achieving impressive economic growth during the economic reform period, China has been plagued by rampant corruption and a widening income gap. How can the coexistence of these two phenomena be explained？ In this paper, we argue that before 1994, the coexistence was induced by a series of expediential institutional arrangements to stimulate entrepreneurial activities and after 1994, it was entrenched because of the slow progress in the overall reform toward becoming a market economy and because of inappropriate government actions and the lack of government action in institutional building. To solve these problems, economic and political reforms need to be accelerated to improve market institutions and to establish the rule of law.展开更多
基金"A Study on the Rent-seeking,Political Capital Burst and Economic Consequences of Private Enterprises,Based on the Perspective of Officials Arrest"(Grant No.71702178),National Natural Sciences Foundation"Anti-Corruption,Reconstruction of the Relationship Between Government and Enterprises Social Capital Investment:An Integrated Research Based on Social Relation Network Theory"(Grant No.17YJC790005),MOE Project of Humanities and Social Sciences Foundation
文摘With the implementation of the CPC s eight-point regulation as a natural experiment platform, this paper seeks to unravel the causality between rent-seeking and firm peiformance for SOEs and private firms respectively. Our empirical research has found that after the release of the "eight-point regulation", investors responded negatively to private firms and positively to SOEs. Such market response is more significant for firms with a high degree of rent-seeking. Further research has found that rent-seeking helps both SOEs and private firms receive more subsidies from the government. While government subsidy from rent-seeking is conducive to the peiformance of private firms, it is not the case for SOEs. This implies that rent-seeking activities serve as a "lubricant" for private firms but have a "stumbling block" effect for SOEs.
基金The Social Science Foundation of China(No06BJY011)
文摘A continuous-time stochastic model is constructed to analyze how to control rent seeking behaviors. Using the stochastic optimization methods based on the modem risky theory, a unique positive solution to the dynamic model is derived. The effects of preference-related parameters on the optimal control level of rent seeking are discussed, and some policy measures are given. The results show that there exists a unique solution to the stochastic dynamic model under some macroeconomic assumptions, and that raising public expenditure may have reverse effects on rent seeking in an underdeveloped or developed economic environment.
文摘Although achieving impressive economic growth during the economic reform period, China has been plagued by rampant corruption and a widening income gap. How can the coexistence of these two phenomena be explained？ In this paper, we argue that before 1994, the coexistence was induced by a series of expediential institutional arrangements to stimulate entrepreneurial activities and after 1994, it was entrenched because of the slow progress in the overall reform toward becoming a market economy and because of inappropriate government actions and the lack of government action in institutional building. To solve these problems, economic and political reforms need to be accelerated to improve market institutions and to establish the rule of law.
