"Reverse transmission mechanism" is a deep-seated problem in China's economy.Understanding it is the key to unraveling the interaction among China's growth mechanism,cycles and policy options.In the ..."Reverse transmission mechanism" is a deep-seated problem in China's economy.Understanding it is the key to unraveling the interaction among China's growth mechanism,cycles and policy options.In the new millennium,great changes have occurred in the economic environment and the "reverse transmission mechanism" has shown that it works in different ways.From this approach,this paper concludes that "welfare and administrative spending rigidity" after 2000 has a stronger feature of "reverse transmission," which forces China's economy onto a path of unsustainable expansion.To seek sustainable growth,new reverse transmissions of welfare and administrative spending must be broken.In light of the present phase of development,only by adjusting administrative costs and welfare spending can we balance development,transform the growth pattern,and embark on a sustainable path.展开更多
基金This article is under the major bidding project of National Social Science Fund,Strategic Adjustment of China’s Economic Structure and Transformation of Economic Growth Pattern (Approval Doc.06&ZD004_01:)
文摘"Reverse transmission mechanism" is a deep-seated problem in China's economy.Understanding it is the key to unraveling the interaction among China's growth mechanism,cycles and policy options.In the new millennium,great changes have occurred in the economic environment and the "reverse transmission mechanism" has shown that it works in different ways.From this approach,this paper concludes that "welfare and administrative spending rigidity" after 2000 has a stronger feature of "reverse transmission," which forces China's economy onto a path of unsustainable expansion.To seek sustainable growth,new reverse transmissions of welfare and administrative spending must be broken.In light of the present phase of development,only by adjusting administrative costs and welfare spending can we balance development,transform the growth pattern,and embark on a sustainable path.
