This paper （1） discusses how the two indicators used in official statistics of China, namely total investment in fixed assets and the gross fixed capital formation, reflect changes infixed asset investment and their...This paper （1） discusses how the two indicators used in official statistics of China, namely total investment in fixed assets and the gross fixed capital formation, reflect changes infixed asset investment and their relationship, （2） analyzes the growth of fixed asset investment and its contribution to changes of economic growth rate since the reform and opening-up, and （3） explains how fiscal policy impacts the growth of fixed asset investment and analyzes in detail the impacts of the two rounds of contractionary fiscal policy, two rounds of expansionary fiscal policy and one round of neutral fiscal policy on China＇ s fixed asset investment growth since reform and opening-up using full and accurate data. Practice shows that the impact of fiscal policy on China＇ s fixed asset investment is direct and obvious, yet sometimes too drastic. In the future, fiscal policy should be used in alignment with other economic policies with appropriate intensity and timing so that it will help stabilize the growth of fixed asset investment.展开更多
Harmonious fiscal policy is the Inner requirement for Constructing Harmonious society and is an important means of realiziug such society. The harmonious fiscal policy should realize the harmony of “two hands”, the ...Harmonious fiscal policy is the Inner requirement for Constructing Harmonious society and is an important means of realiziug such society. The harmonious fiscal policy should realize the harmony of “two hands”, the harmony of values, the unity of short-term and long-term harmony the unity of parts and the whole harmony, the unity of internal and external efficacy harmony. To scientifically evaluate harmony of fiscal policy is the prerequisite to bring harmonious fiscal policy to its full play.展开更多
文摘This paper （1） discusses how the two indicators used in official statistics of China, namely total investment in fixed assets and the gross fixed capital formation, reflect changes infixed asset investment and their relationship, （2） analyzes the growth of fixed asset investment and its contribution to changes of economic growth rate since the reform and opening-up, and （3） explains how fiscal policy impacts the growth of fixed asset investment and analyzes in detail the impacts of the two rounds of contractionary fiscal policy, two rounds of expansionary fiscal policy and one round of neutral fiscal policy on China＇ s fixed asset investment growth since reform and opening-up using full and accurate data. Practice shows that the impact of fiscal policy on China＇ s fixed asset investment is direct and obvious, yet sometimes too drastic. In the future, fiscal policy should be used in alignment with other economic policies with appropriate intensity and timing so that it will help stabilize the growth of fixed asset investment.
文摘Harmonious fiscal policy is the Inner requirement for Constructing Harmonious society and is an important means of realiziug such society. The harmonious fiscal policy should realize the harmony of “two hands”, the harmony of values, the unity of short-term and long-term harmony the unity of parts and the whole harmony, the unity of internal and external efficacy harmony. To scientifically evaluate harmony of fiscal policy is the prerequisite to bring harmonious fiscal policy to its full play.
