China＇s economic growth miracle despite complicated administrative approval formalities prompted us to raise the following question： ls it true that reforming administrative approval will promote economic growth？ B...China＇s economic growth miracle despite complicated administrative approval formalities prompted us to raise the following question： ls it true that reforming administrative approval will promote economic growth？ Based on our analysis on market entry, we discovered that reforming administrative approval will spur economic growth by reducing transaction cost for firms. Administrative approval may suppress social cost and propel China＇s economic growth; China＇s gradualist approval reforms may indeed propel economic growth by reducing transaction cost for firms. With the data of prefecture-level cities during 2000-2013 and data of companies listed on the SME board during 2010-2014, we tested the effects of approval reforms on economic growth and on transaction cost, and employed instrumental variable and PSM for the treatment of the endogeneity problem - all these tests led to robust and consistent results. Moreover, we discovered that difference in government policy implementation in the approval process is the root cause of corruption and rent seeking.展开更多
The economic regionalization practice led by China local governments has gradually evolved into chaos. Local governments compete to declare for higher-leveled and large-scaled economic regions to obtain more economic ...The economic regionalization practice led by China local governments has gradually evolved into chaos. Local governments compete to declare for higher-leveled and large-scaled economic regions to obtain more economic resources and policy support in the way of policy game. The author argues that the regionalization chaos is attributed to the reason that the present theoretical support for economic regionalization overemphasizes the economic growth brought about by the economic regionalization but ignores the effect of transaction cost, which leads to constraint loss on the economic regionalization theory analysis framework. Then, the introduction of economic regionalization analysis framework based on the conflicts between scale expansion and transaction costs would establish equilibrium conditions to set up a moderate scale development for economic regions. The author hopes that the acceptance of this framework into the economic regionalization decision-making system would give guidance for making more appropriate regionalization decisions.展开更多
There is growing concern that farmland transfers lead to less agricultural investment, which may adversely affect agricultural productivity growth in China.Prior research has primarily focused on the differences betwe...There is growing concern that farmland transfers lead to less agricultural investment, which may adversely affect agricultural productivity growth in China.Prior research has primarily focused on the differences between owned cultivated land and rented plots,but little is known about how farmland transfers between relatives,which are popular in rural China,specifically affect agricultural investment.In this paper,we present a conceptual framework of transaction cost economics to compare different contracting strategies in China's farmland rental markets.As farmland rental markets in China are immature,land transfer between relatives establishes bilateral governance,which has the advantage of addressing the opportunistic activities of both parties and can ultimately increase investment by tenants.Based on data from two waves of household surveys,we empirically examine the impact of bilateral governance on the application of organic fertilizer,an indicator for agricultural investment.Our findings show that apart from economic factors, kinship is important to the functioning of farmland rental markets in rural areas.展开更多
To find solutions for legal system for capitalization of rural land ownership in China,this paper studied and analyzed existing problems in rural land system and legal environment using legal theory and transaction co...To find solutions for legal system for capitalization of rural land ownership in China,this paper studied and analyzed existing problems in rural land system and legal environment using legal theory and transaction cost theory. Results indicated that(i) the restriction of institutional condition upon property right and transaction is more essential,and key points include the relationship of entities of right formed jointly by the state,collective and farmers,accurate positioning of property right structure,and security for land appreciation income right and allocation mechanism;(ii) the land property right structure should select a legal structure with minimum transaction cost. It is concluded that entitling the ownership to a single entity is an economical method to eliminate current conflict of rural land right.展开更多
Social capital has played an increasingly important role in regional development.China is a country with high stocks of social capital.Using several different indicators of social capital,this study tries to research ...Social capital has played an increasingly important role in regional development.China is a country with high stocks of social capital.Using several different indicators of social capital,this study tries to research the regional disparities in social capital and the influence of social capital on economic growth of China in 1978-2004.Measuring social capital with indicators of associations,charities and blood donation rates,this study finds significant regional disparities in social capital at provincial level in China.Those indicators for social capital are highly correlated with regional economic performance.Statistical analysis shows that social capital has a significant and positive effect on a long-term provincial economic growth.This relationship exists after controlling policy,macro location factors,and per capita GDP in the initial year.The empirical findings indicate that institutions,culture and social relations are critical for regional development in China.Therefore,the creation and support of social capital should be paid more attention to when making regional policy.展开更多
文摘China＇s economic growth miracle despite complicated administrative approval formalities prompted us to raise the following question： ls it true that reforming administrative approval will promote economic growth？ Based on our analysis on market entry, we discovered that reforming administrative approval will spur economic growth by reducing transaction cost for firms. Administrative approval may suppress social cost and propel China＇s economic growth; China＇s gradualist approval reforms may indeed propel economic growth by reducing transaction cost for firms. With the data of prefecture-level cities during 2000-2013 and data of companies listed on the SME board during 2010-2014, we tested the effects of approval reforms on economic growth and on transaction cost, and employed instrumental variable and PSM for the treatment of the endogeneity problem - all these tests led to robust and consistent results. Moreover, we discovered that difference in government policy implementation in the approval process is the root cause of corruption and rent seeking.
文摘The economic regionalization practice led by China local governments has gradually evolved into chaos. Local governments compete to declare for higher-leveled and large-scaled economic regions to obtain more economic resources and policy support in the way of policy game. The author argues that the regionalization chaos is attributed to the reason that the present theoretical support for economic regionalization overemphasizes the economic growth brought about by the economic regionalization but ignores the effect of transaction cost, which leads to constraint loss on the economic regionalization theory analysis framework. Then, the introduction of economic regionalization analysis framework based on the conflicts between scale expansion and transaction costs would establish equilibrium conditions to set up a moderate scale development for economic regions. The author hopes that the acceptance of this framework into the economic regionalization decision-making system would give guidance for making more appropriate regionalization decisions.
基金the National Natural Science Foundation of China (No.71473122)the National Social Science Foundation of China (Nos.17BJY010 and 17CJY032)"A project Funded by the Priority Academic Program Development of Jiangsu Higher Education Institutions (PAPD).".
文摘There is growing concern that farmland transfers lead to less agricultural investment, which may adversely affect agricultural productivity growth in China.Prior research has primarily focused on the differences between owned cultivated land and rented plots,but little is known about how farmland transfers between relatives,which are popular in rural China,specifically affect agricultural investment.In this paper,we present a conceptual framework of transaction cost economics to compare different contracting strategies in China's farmland rental markets.As farmland rental markets in China are immature,land transfer between relatives establishes bilateral governance,which has the advantage of addressing the opportunistic activities of both parties and can ultimately increase investment by tenants.Based on data from two waves of household surveys,we empirically examine the impact of bilateral governance on the application of organic fertilizer,an indicator for agricultural investment.Our findings show that apart from economic factors, kinship is important to the functioning of farmland rental markets in rural areas.
基金Supported by 2012 Doctoral Candidate Innovation and Practice Project of China University of Political Science and Law(2012BSCX07)
文摘To find solutions for legal system for capitalization of rural land ownership in China,this paper studied and analyzed existing problems in rural land system and legal environment using legal theory and transaction cost theory. Results indicated that(i) the restriction of institutional condition upon property right and transaction is more essential,and key points include the relationship of entities of right formed jointly by the state,collective and farmers,accurate positioning of property right structure,and security for land appreciation income right and allocation mechanism;(ii) the land property right structure should select a legal structure with minimum transaction cost. It is concluded that entitling the ownership to a single entity is an economical method to eliminate current conflict of rural land right.
基金Under the auspices of National Natural Science Foundation of China(No.40871065,40830747)
文摘Social capital has played an increasingly important role in regional development.China is a country with high stocks of social capital.Using several different indicators of social capital,this study tries to research the regional disparities in social capital and the influence of social capital on economic growth of China in 1978-2004.Measuring social capital with indicators of associations,charities and blood donation rates,this study finds significant regional disparities in social capital at provincial level in China.Those indicators for social capital are highly correlated with regional economic performance.Statistical analysis shows that social capital has a significant and positive effect on a long-term provincial economic growth.This relationship exists after controlling policy,macro location factors,and per capita GDP in the initial year.The empirical findings indicate that institutions,culture and social relations are critical for regional development in China.Therefore,the creation and support of social capital should be paid more attention to when making regional policy.
