Based on economic convergence model and its derivatives, this paper examines the relationship between popultion mobility and economic growth in Chongqing and its five functional areas by using 2000~2013 panel data. Th...Based on economic convergence model and its derivatives, this paper examines the relationship between popultion mobility and economic growth in Chongqing and its five functional areas by using 2000~2013 panel data. The results show that there exists interactive relationship between population mobility and economic growth, and this interaction is rendered as mutual inhibition. The restrain from economic growth to population mobility shows smaller effect than the reverse. In the sparsely populated areas, economic growth is promoted by population mobility, and in the densely populated areas, economic growth is driven by investment. Therefore, government has to regulate population mobility to achieve sustainable economic growth.展开更多
Tunneling is to describe transfer resource out of the firm for benefit of their controlling shareholders. Better legal protection and stronger social norms improve minority shareholders＇ protection from expropriation...Tunneling is to describe transfer resource out of the firm for benefit of their controlling shareholders. Better legal protection and stronger social norms improve minority shareholders＇ protection from expropriation. They consequently reduce the private benefits of controlling shareholders （La Porta, 1999）. This study aims to investigate tunneling in the context merger and acquisition （M＆A） and to examine whether tunneling occurs only in emerging markets with poor law enforcement or whether it also occurs in developed countries. This study documents that managers are more likely to overpay target in merger and acquisition with high overlapped owner which have stakes in bidder and target firm. That overpayment, a transfer of wealth from owners of bidder＇s firm to overlapping owners, is a type of tunneling. This study concludes that tunneling occurs in nations not only with low investor protection, but also with high investor protection.展开更多
This paper examines city growth patterns and the corresponding city size distribution evolution over long periods of time using a simple New Economic Geography(NEG) model and urban population data from Canada. The mai...This paper examines city growth patterns and the corresponding city size distribution evolution over long periods of time using a simple New Economic Geography(NEG) model and urban population data from Canada. The main findings are twofold. First, there is a transition from sequential to parallel growth of cities over long periods of time: city growth shows a sequential mode in the stage of rapid urbanization, i.e., the cities with the best development conditions will take the lead in growth, after which the cities with higher ranks will become the fastest-growing cities; in the late stage of urbanization, city growth converges according to Gibrat′s law, and exhibits a parallel growth pattern. Second, city size distribution is found to have persistent structural characteristics: the city system is self-organized into multiple discrete size groups; city growth shows club convergence characteristics, and the cities with similar development conditions eventually converge to a similar size. The results will not only enhance our understanding of urbanization process, but will also provide a timely and clear policy reference for promoting the healthy urbanization of developing countries.展开更多
This paper examines the effect of Chinese agricultural tax reform on local fiscal revenues as well as farmers＇ income. Fixed effects results show that a tax rate reduction from 15.3 to 8.4 % in the first 5 years of t...This paper examines the effect of Chinese agricultural tax reform on local fiscal revenues as well as farmers＇ income. Fixed effects results show that a tax rate reduction from 15.3 to 8.4 % in the first 5 years of the reform did not lead to a corresponding decrease in local fiscal revenues. At the same time, farmers＇ income slightly decreased. In the second 5 years of the reform, the tax rate was reduced to zero. This time, local fiscal revenues decreased linearly with the tax cuts, and farmers＇ income increased by 17.8 %. The link between the actual fiscal revenue reduction and farmers＇ income suggests that merely changing the nominal level of taxation does not necessarily increase farmers＇ income. Rather, the complete implementation of the reform relates crucially to curbing local governments＇ unauthorized extractions.展开更多
With the increased number of low Earth orbit(LEO) satellites equipped with global navigation satellite system(GNSS) receiver,the LEO based GNSS slant total electron content(TEC) and electron density profile(EDP) data ...With the increased number of low Earth orbit(LEO) satellites equipped with global navigation satellite system(GNSS) receiver,the LEO based GNSS slant total electron content(TEC) and electron density profile(EDP) data play an increasingly important role in space weather and ionospheric research due to improved global coverage. China Seismo-Electromagnetic Satellite(CSES), which was launched in February 2018, is equipped with GNSS receiver for either precise orbit determination(POD) and ionospheric inversion. The purpose of the present paper is to validate CSES GNSS ionospheric inversion technique based on the real observations and verify the accuracy of TEC and EDP retrieval based on the simulated data. The following conclusions can be drawn: the epoch difference inversion(EDI) derived from CSES can successfully retrieve the EDPs without non-occultation side measurements; the technique of EDI and the calibrated TEC inversion(CTI) have similar behaviors in inversion errors,however, the retrieved Nm F2 and hm F2 have a larger systematic error surrounding the equatorial ionization anomaly(EIA)where the assumption of spherical symmetry is often invalid; the precision and accuracy of retrieved TEC have been investigated in the paper based on the simulated data, and it is found that the accuracy of the retrieved TEC is relative to solar activity: the lower the F10.7 index, the higher the accuracy of retrieved TEC.展开更多
文摘Based on economic convergence model and its derivatives, this paper examines the relationship between popultion mobility and economic growth in Chongqing and its five functional areas by using 2000~2013 panel data. The results show that there exists interactive relationship between population mobility and economic growth, and this interaction is rendered as mutual inhibition. The restrain from economic growth to population mobility shows smaller effect than the reverse. In the sparsely populated areas, economic growth is promoted by population mobility, and in the densely populated areas, economic growth is driven by investment. Therefore, government has to regulate population mobility to achieve sustainable economic growth.
文摘Tunneling is to describe transfer resource out of the firm for benefit of their controlling shareholders. Better legal protection and stronger social norms improve minority shareholders＇ protection from expropriation. They consequently reduce the private benefits of controlling shareholders （La Porta, 1999）. This study aims to investigate tunneling in the context merger and acquisition （M＆A） and to examine whether tunneling occurs only in emerging markets with poor law enforcement or whether it also occurs in developed countries. This study documents that managers are more likely to overpay target in merger and acquisition with high overlapped owner which have stakes in bidder and target firm. That overpayment, a transfer of wealth from owners of bidder＇s firm to overlapping owners, is a type of tunneling. This study concludes that tunneling occurs in nations not only with low investor protection, but also with high investor protection.
基金Under the auspices of Key Program of Chinese Academy of Sciences(No.KZZD-EW-06-01)
文摘This paper examines city growth patterns and the corresponding city size distribution evolution over long periods of time using a simple New Economic Geography(NEG) model and urban population data from Canada. The main findings are twofold. First, there is a transition from sequential to parallel growth of cities over long periods of time: city growth shows a sequential mode in the stage of rapid urbanization, i.e., the cities with the best development conditions will take the lead in growth, after which the cities with higher ranks will become the fastest-growing cities; in the late stage of urbanization, city growth converges according to Gibrat′s law, and exhibits a parallel growth pattern. Second, city size distribution is found to have persistent structural characteristics: the city system is self-organized into multiple discrete size groups; city growth shows club convergence characteristics, and the cities with similar development conditions eventually converge to a similar size. The results will not only enhance our understanding of urbanization process, but will also provide a timely and clear policy reference for promoting the healthy urbanization of developing countries.
文摘This paper examines the effect of Chinese agricultural tax reform on local fiscal revenues as well as farmers＇ income. Fixed effects results show that a tax rate reduction from 15.3 to 8.4 % in the first 5 years of the reform did not lead to a corresponding decrease in local fiscal revenues. At the same time, farmers＇ income slightly decreased. In the second 5 years of the reform, the tax rate was reduced to zero. This time, local fiscal revenues decreased linearly with the tax cuts, and farmers＇ income increased by 17.8 %. The link between the actual fiscal revenue reduction and farmers＇ income suggests that merely changing the nominal level of taxation does not necessarily increase farmers＇ income. Rather, the complete implementation of the reform relates crucially to curbing local governments＇ unauthorized extractions.
基金supported by Spark Program from China Earthquake Administration(Grant No.XH18032)the Scientific Research Fund of Institute of Seismology,China Earthquake Administration(Grant No.IS201716161)
文摘With the increased number of low Earth orbit(LEO) satellites equipped with global navigation satellite system(GNSS) receiver,the LEO based GNSS slant total electron content(TEC) and electron density profile(EDP) data play an increasingly important role in space weather and ionospheric research due to improved global coverage. China Seismo-Electromagnetic Satellite(CSES), which was launched in February 2018, is equipped with GNSS receiver for either precise orbit determination(POD) and ionospheric inversion. The purpose of the present paper is to validate CSES GNSS ionospheric inversion technique based on the real observations and verify the accuracy of TEC and EDP retrieval based on the simulated data. The following conclusions can be drawn: the epoch difference inversion(EDI) derived from CSES can successfully retrieve the EDPs without non-occultation side measurements; the technique of EDI and the calibrated TEC inversion(CTI) have similar behaviors in inversion errors,however, the retrieved Nm F2 and hm F2 have a larger systematic error surrounding the equatorial ionization anomaly(EIA)where the assumption of spherical symmetry is often invalid; the precision and accuracy of retrieved TEC have been investigated in the paper based on the simulated data, and it is found that the accuracy of the retrieved TEC is relative to solar activity: the lower the F10.7 index, the higher the accuracy of retrieved TEC.
