Rectifying the structural imbalance between the provision of and demand for rural public services can effectively boost the efficiency of public funds utilization and the level of public service provision. Based on th...Rectifying the structural imbalance between the provision of and demand for rural public services can effectively boost the efficiency of public funds utilization and the level of public service provision. Based on the findings of a field survey, this article presents a summary of the structural imbalance between the provision of and demand for rural public services. This paper holds that the structural imbalance is primarily reflected in the dislocation between provision and demand, the unsuitable mode of provision, the monolithic provision mechanism, the excessive focus on construction at the expense of governance and the overemphasis of counties and townships at the cost of villages. Such structural imbalance is principally because of the limited financial strength of government at the grass-roots level due to treasury centralization and the over-dependence of public services on special funds allocated by government at or above provincial level.展开更多
In the last couple of years, social financing costs have shot up in China despite an overall capital abundance and increasing market-based capital allocation. This paper has investigated overall financial cost and cap...In the last couple of years, social financing costs have shot up in China despite an overall capital abundance and increasing market-based capital allocation. This paper has investigated overall financial cost and capital cost ratio as two measurements of financing cost, compared financing costs of different channels, examined the relationship of risk premium, financial repression, interest rate liberalization, and resource occupation versus financing cost, and addressed the problem of high non-manufacturing cost. On such a basis, specific countermeasures have been proposed. The main conclusion of this paper is： The current high social financing costs primarily result from economic structural imbalance. The fundamental solution lies in continuing structural reform and credibility system development to eliminate barriers in the transmission of capital circulation policies such as expanding equity financing, relaxing market access formalities for small and micro financial institutions, and improving the bankruptcy system to give full play to the ＂survival of the fittest＂ mechanism of the market.展开更多
The leader - member exchange theory is one of the leading and the hot topic in recent years of the study of Western leaders. Structural studies of LMX factors have important theoretical and practical value in college ...The leader - member exchange theory is one of the leading and the hot topic in recent years of the study of Western leaders. Structural studies of LMX factors have important theoretical and practical value in college teachers. In this paper, the ＂impact factor structure of university teachers LMX Questionnaire＂ for four universities 808 subjects was investigated. By exploratory factor analysis and confirmatory factor analysis, it found that the structure of university teachers LMX factors includes five dimensions： values, attitudes up, personality characteristics, switching behavior, objective situations. The questionnaire has good reliability and validity.展开更多
This paper attempts to explain the fundamental cause of China＇s growing imbalanee problems. Economic data confirm that the key structural imbalance problems, such as overinvestment, large current account surpluses, l...This paper attempts to explain the fundamental cause of China＇s growing imbalanee problems. Economic data confirm that the key structural imbalance problems, such as overinvestment, large current account surpluses, low consumption share of GDP and income inequality, have all deteriorated over the past few years, despite continuous policy efforts to correct these problems. We argue that the key determining factor is repressed factor cost, which is associated with heavily distorted markets for labor, capital, land, resources and the environment. These are like implicit subsidies for producers, investors and exporters. They boost growth and, at the same time, lift investment and exports. Previous policy efforts have focused more on administrative measures, which have not been sustainable. Therefore, a more fundamental solution to the imbalance problem lies in completing market-oriented re forms for production factors and allowing free markets to determine prices of labor, capital, land and resources.展开更多
A striking feature of the structural change literature is that, even though the U.S. economy is often used as a benchmark for calibration, the traditional mo- dels cannot account for the steep decline in manufacturing...A striking feature of the structural change literature is that, even though the U.S. economy is often used as a benchmark for calibration, the traditional mo- dels cannot account for the steep decline in manufacturing and rise in services in the U.S. since the late 1970s （Buera and Kaboski, 2009）. In order to solve this puzzle, this paper develops a three-sector model to evaluate various factors that could have contributed to the structural transformation process from 1950 to 2005. The results show that, in addition to traditional explanations, such as non-homothetic preference and sector-biased productivity progress, international trade is another major source of structural change and is able to explain about 35.5% of the overall employment share decrease in American manufacturing. The quantitative calibration estimates that the inter-sector trade makes a moderate contribution, while trade imbalances dominate the recent contraction of manufacturing employment share. Our results suggest that calibrated models based on U.S. data have to be adjusted by trade factors.展开更多
文摘Rectifying the structural imbalance between the provision of and demand for rural public services can effectively boost the efficiency of public funds utilization and the level of public service provision. Based on the findings of a field survey, this article presents a summary of the structural imbalance between the provision of and demand for rural public services. This paper holds that the structural imbalance is primarily reflected in the dislocation between provision and demand, the unsuitable mode of provision, the monolithic provision mechanism, the excessive focus on construction at the expense of governance and the overemphasis of counties and townships at the cost of villages. Such structural imbalance is principally because of the limited financial strength of government at the grass-roots level due to treasury centralization and the over-dependence of public services on special funds allocated by government at or above provincial level.
文摘In the last couple of years, social financing costs have shot up in China despite an overall capital abundance and increasing market-based capital allocation. This paper has investigated overall financial cost and capital cost ratio as two measurements of financing cost, compared financing costs of different channels, examined the relationship of risk premium, financial repression, interest rate liberalization, and resource occupation versus financing cost, and addressed the problem of high non-manufacturing cost. On such a basis, specific countermeasures have been proposed. The main conclusion of this paper is： The current high social financing costs primarily result from economic structural imbalance. The fundamental solution lies in continuing structural reform and credibility system development to eliminate barriers in the transmission of capital circulation policies such as expanding equity financing, relaxing market access formalities for small and micro financial institutions, and improving the bankruptcy system to give full play to the ＂survival of the fittest＂ mechanism of the market.
文摘The leader - member exchange theory is one of the leading and the hot topic in recent years of the study of Western leaders. Structural studies of LMX factors have important theoretical and practical value in college teachers. In this paper, the ＂impact factor structure of university teachers LMX Questionnaire＂ for four universities 808 subjects was investigated. By exploratory factor analysis and confirmatory factor analysis, it found that the structure of university teachers LMX factors includes five dimensions： values, attitudes up, personality characteristics, switching behavior, objective situations. The questionnaire has good reliability and validity.
文摘This paper attempts to explain the fundamental cause of China＇s growing imbalanee problems. Economic data confirm that the key structural imbalance problems, such as overinvestment, large current account surpluses, low consumption share of GDP and income inequality, have all deteriorated over the past few years, despite continuous policy efforts to correct these problems. We argue that the key determining factor is repressed factor cost, which is associated with heavily distorted markets for labor, capital, land, resources and the environment. These are like implicit subsidies for producers, investors and exporters. They boost growth and, at the same time, lift investment and exports. Previous policy efforts have focused more on administrative measures, which have not been sustainable. Therefore, a more fundamental solution to the imbalance problem lies in completing market-oriented re forms for production factors and allowing free markets to determine prices of labor, capital, land and resources.
文摘A striking feature of the structural change literature is that, even though the U.S. economy is often used as a benchmark for calibration, the traditional mo- dels cannot account for the steep decline in manufacturing and rise in services in the U.S. since the late 1970s （Buera and Kaboski, 2009）. In order to solve this puzzle, this paper develops a three-sector model to evaluate various factors that could have contributed to the structural transformation process from 1950 to 2005. The results show that, in addition to traditional explanations, such as non-homothetic preference and sector-biased productivity progress, international trade is another major source of structural change and is able to explain about 35.5% of the overall employment share decrease in American manufacturing. The quantitative calibration estimates that the inter-sector trade makes a moderate contribution, while trade imbalances dominate the recent contraction of manufacturing employment share. Our results suggest that calibrated models based on U.S. data have to be adjusted by trade factors.
