Based on international comparison,this paper finds that the excessively low share of property income is a main cause for the low share of resident income in national income in China.During the past two decades,the ave...Based on international comparison,this paper finds that the excessively low share of property income is a main cause for the low share of resident income in national income in China.During the past two decades,the average share of resident income in the primary distribution of national income in China is 25.32% and 16.76%,the share of property income is 15.62% and 3.36% and the share of labor remuneration is 12.84% and 12.77%,which are all lower than that of the United States and Japan respectively.Structural decomposition of national income distribution in China,the United States and Japan indicates that excessively low return on investment(ROI)of is the primary cause for excessively low property income in China.Contrary to economic logic,ROI in China has been lower than that in the United States and Japan where capital is more adequate for the past decade.After all,the excessively low real interest rate due to interest rate control is the primary cause for excessively low property income in China,while the lack of financial products caused by financial market access restrictions also restrains the growth of property income in China.展开更多
With the progressive reforms of China’s household registration system,China has unleashed its demographic dividends over the time and promoted the economic growth.Guided by the new vision of development,urban inclusi...With the progressive reforms of China’s household registration system,China has unleashed its demographic dividends over the time and promoted the economic growth.Guided by the new vision of development,urban inclusiveness,especially the urban inclusiveness to the migrant population,will become a force for driving economic growth.Using the 2016 China Migrants Dynamic Survey(CMDS)dataset,we measure urban inclusiveness with the level of migrants’access to same public services and social security as local residents and explore the effects of urban inclusiveness on migrants’entrepreneurship.The results show that urban inclusiveness encourages migrants to start businesses and has a positive effect on the level of entrepreneurship.The urban environmental conditions and heterogeneity of individual laborers have different regulating effects on the influence of urban inclusiveness on individual entrepreneurial choice.The findings offer important inspirations for policy making in reforming the Chinese urban systems and promoting migrants’entrepreneurship.展开更多
文摘Based on international comparison,this paper finds that the excessively low share of property income is a main cause for the low share of resident income in national income in China.During the past two decades,the average share of resident income in the primary distribution of national income in China is 25.32% and 16.76%,the share of property income is 15.62% and 3.36% and the share of labor remuneration is 12.84% and 12.77%,which are all lower than that of the United States and Japan respectively.Structural decomposition of national income distribution in China,the United States and Japan indicates that excessively low return on investment(ROI)of is the primary cause for excessively low property income in China.Contrary to economic logic,ROI in China has been lower than that in the United States and Japan where capital is more adequate for the past decade.After all,the excessively low real interest rate due to interest rate control is the primary cause for excessively low property income in China,while the lack of financial products caused by financial market access restrictions also restrains the growth of property income in China.
基金Basic Science Central Program of National Natural Science Foundation of China“Econometric Modeling and Economic Policy Research”(71988101)Major Program of National Social Science Fund of China“Research on Major Risk Prevention and Resolution in the Capital Market under the New Situation”(19ZDA060)Program of Natural Science Foundation of Fujian Province“Changes with House Prices,Industrial Upgrading and Urban Innovation Capability:A Perspective of New Economic Geography”(2016J05106).
文摘With the progressive reforms of China’s household registration system,China has unleashed its demographic dividends over the time and promoted the economic growth.Guided by the new vision of development,urban inclusiveness,especially the urban inclusiveness to the migrant population,will become a force for driving economic growth.Using the 2016 China Migrants Dynamic Survey(CMDS)dataset,we measure urban inclusiveness with the level of migrants’access to same public services and social security as local residents and explore the effects of urban inclusiveness on migrants’entrepreneurship.The results show that urban inclusiveness encourages migrants to start businesses and has a positive effect on the level of entrepreneurship.The urban environmental conditions and heterogeneity of individual laborers have different regulating effects on the influence of urban inclusiveness on individual entrepreneurial choice.The findings offer important inspirations for policy making in reforming the Chinese urban systems and promoting migrants’entrepreneurship.
