Based on the panel data of 28 provinces in the year of 1987-2001, this paper examines the effects of the local government investment on economic growth and employment. The empirical result shows that the local governm...Based on the panel data of 28 provinces in the year of 1987-2001, this paper examines the effects of the local government investment on economic growth and employment. The empirical result shows that the local government investment plays a significant positive role in economic growth and employment. However, while the proportion of local government investment to GDP had a remarkable rise after 1998, the elasticity of local government investment on economic growth declined, which shows that there is a big room for raising the efficiency of local government investment. Moreover. the empirieal examination shows that although local government investment had positive effect on employment, the elasticity had a decrease after 1994 when the tax-sharing system reform was put into practice. This shows that the positive role of local government investment on employment is also limited This paper argues that the role of local governments as investors must be weakened, and local governments of different levels should lessen direct economic intervention and concentrate on public regulation.展开更多
Since China began reforming and opening up its economy,and especially since the launch of development projects in western China,province A has attracted an increasing amount of investment,which is the main driving for...Since China began reforming and opening up its economy,and especially since the launch of development projects in western China,province A has attracted an increasing amount of investment,which is the main driving force for provincial economic growth.Hence,this study uses a state space model to examine how government investment has affected economic growth in province A in western China,and explains whether there is a crowding-in effect or a crowding-out effect of local government investment on private investment.The findings indicate that both government and private investments have a positive,stimulating influence on economic growth in province A,with the latter being more impactful than the former.Productive and non-productive investments have different effects on province A’s economic growth.From the perspective of the trajectory of government investment elasticity,the elasticity of government and private investments in province A presents a very large spatio-temporal change.That is,from 1994 to 2009,government investment in province A had a crowding-in effect on private investment,but from 2010 to 2017,a crowding-out effect was observed.展开更多
Air pollution poses a significant threat to human health,particularly in urban areas with high levels of industrial activities.In China,the government plays a crucial role in managing air quality through the Air Pollu...Air pollution poses a significant threat to human health,particularly in urban areas with high levels of industrial activities.In China,the government plays a crucial role in managing air quality through the Air Pollution Prevention and Control Action Plan.The government provides direct financial support and guides the investment direction of social funds to improve air quality.While government investment has led to improvements in air quality across China,concerns remain regarding the efficiency of such large-scale investments.To address this concern,we conducted a study using a three-stage data envelopment analysis(DEA)-Malmquist model to assess the efficiency of government investment in improving air quality in China.Our analysis revealed regional disparities and annual dynamic changes.Specifically,we focused on the Beijing-Tianjin-Hebei areas as a case study,as the investment primarily targeted industrial activities in urban areas with the goal of improving living conditions for urban residents.The results demonstrate significant differences in investment efficiency between regions.Beijing exhibits relatively high investment efficiency,while cities in Hebei Province require improvement.We identified scale inefficiency,which refers to the ratio of air pollutant reduction to financial investment,as the main factor contributing to regional disparities.However,we found that increasing the total investment scale can help mitigate this effect.Furthermore,our study observed positive but fluctuating annual changes in investment efficiency within this city cluster from 2014 to 2018.Investment-combined technical efficiency,which represents the investment strategy,is the main obstacle to improving yearly investment efficiency.Therefore,in addition to promoting investment strategies at the individual city level,it is crucial to enhance coordination and cooperation among cities to improve the investment efficiency of the entire city cluster.Evaluating the efficiency of government investment and understanding its influencing factors can guide future investment measures and directions.This knowledge can also support policymaking for other projects involving substantial investments.展开更多
Analysis of how government investment promotes economic development and employment is important for improving government’s decision-making and promoting high-quality economic development in western China.In this pape...Analysis of how government investment promotes economic development and employment is important for improving government’s decision-making and promoting high-quality economic development in western China.In this paper,the authors take Xinjiang as an example to conduct such an analysis.Firstly,based on the competitive input-output table of Xinjiang,the non-competitive input-output tables of 2007,2012 and 2015 are compiled in this paper.Secondly,the contribution of Xinjiang government investment,especially the major government investment projects,to the valueadded of Xinjiang,other provinces and cities in China and abroad are calculated.Thirdly,this paper uses the non-competitive input-output table to compile the sectoral employment vector,and uses the input-occupancy-output technique to measure how government investment promotes employment.The results show that Xinjiang government investment contributes the most to the value-added of Xinjiang and other provinces and cities,but less to foreign countries;the government investment create the most job opportunities in projects including transportation projects and livelihood projects etc.展开更多
Government investment plays an important role in promoting and guiding the economic and social development in China.Xinjiang is the core province of the Belt and Road and its economic growth is mainly driven by invest...Government investment plays an important role in promoting and guiding the economic and social development in China.Xinjiang is the core province of the Belt and Road and its economic growth is mainly driven by investment.This paper decomposes the determinants of government investment effect into economic structure change,technological change and investment structure change,using the non-competitive input-output table of Xinjiang province in 2007,2012 and 2015 and structural decomposition analyses.The results show that,the government investment effect in Xinjiang shows a slight decline trend.During the period,the change of economic structure and investment structure have the negative impact on government investment effect,while the change of technology has the positive impact on government investment effect.In addition,these impacts have strong sectoral heterogeneity.展开更多
In the context of guarding against financial risks and deleveraging,government investment funds supplement the traditional government debt financing by market-based equity financing,which is regarded as the profound c...In the context of guarding against financial risks and deleveraging,government investment funds supplement the traditional government debt financing by market-based equity financing,which is regarded as the profound change of the government’s financial management idea and mode.In reality,the practice of China’s government investment funds is still in the stage of“learning by doing”.The diversification of the target,the lack of supervisory experience,the imperfect information disclosure and evaluation mechanism,and the shortage of professional talents pose a challenge to the government’s future risk control and the regulation of government behavior.This paper summarizes the path and trend of the development of government investment funds and the possible risks,and on the basis of international experience,puts forward the measures and suggestions for further standardizing the management of government investment funds and deepening the reform of government investment and financing system.展开更多
The Chinese government has made great efforts to increase investment in science, technology and education, Vice Premier Li Lanqing told the country’s top legislators on August 24. A total of 146 billion yuan (about U...The Chinese government has made great efforts to increase investment in science, technology and education, Vice Premier Li Lanqing told the country’s top legislators on August 24. A total of 146 billion yuan (about US$17.6 billion) was raised nationwide for science and technology in 1999, representing an increase of 12.5% over the previous year, among which funds for research and development展开更多
Realizing the importance of corporate governance, many governments have embarked upon various initiatives. In Malaysia, the recently introduced Green Book program aims to strengthen the corporate governance among the ...Realizing the importance of corporate governance, many governments have embarked upon various initiatives. In Malaysia, the recently introduced Green Book program aims to strengthen the corporate governance among the government-linked companies （GLCs）, in view of their significant contributions to the national socio-economic development. The Green Book initiative, launched in 2005, contains, among other things, a provision to create a high-performing board. Performance of GLCs, therefore, is likely to scale better heights with the modification of the constitution of the boards. The present paper aims to examine the association between the selected corporate governance attributes and performance of GLCs in 2010, approximately five years since the implementation of the transformation program. The regression analysis reveals that none of the selected corporate governance indicators has significantly impacted the performance of GLCs. The findings serve as a wake-up call to the authorities to appraise the effectiveness of the transformation program in enhancing the performance of GLCs.展开更多
In this paper,we discuss the development process of local government special bonds,and the role channels of local government special debt investment in driving China’s economic growth.Based on the specific decomposit...In this paper,we discuss the development process of local government special bonds,and the role channels of local government special debt investment in driving China’s economic growth.Based on the specific decomposition of Xinjiang local government special bond investment,this paper uses the non-competitive input-output model for the first time to analyze the net pulling effect of Xinjiang local government special bond investment on Xinjiang’s GDP and employment in 2020.Two measure calibers are set in this paper based on whether the financing costs are considered or not;in addition,we set up four scenarios based on two conditions:Whether to consider retained fun and whether to consider using special-purpose bond investment to leverage social capital.The results show that:1)when financing costs are not considered,the RMB77.4 billion local government special-purpose bonds can push the GDP of Xinjiang to grow by RMB42.27 billion,RMB35.12 billion,RMB77.548billion and RMB69.34 billion respectively under the four scenarios;2)when financing costs are not considered,the number of jobs driven by the RMB77.4 billion local government special-purpose bonds was respectively 372,300,324,500,718,500 and 601,300 in the four scenarios;3)when financing costs are considered,the RMB77.4 billion local government special-purpose bonds can push the GDP of Xinjiang to grow by RMB71.876 billion and RMB64.268 billion under scenario 3)and scenario 4).展开更多
China＇s rapid economic growth poses serious concerns over environmental degradation, especially in the context of higher pollution levels resulting from unprecedented industrial activity. It is commonly held that gov...China＇s rapid economic growth poses serious concerns over environmental degradation, especially in the context of higher pollution levels resulting from unprecedented industrial activity. It is commonly held that government policies are effective in the form of investment in pollution control and the imposition of a discharge fee on industrial units for the purpose of safety of environmental quality. In this study, we find that government policies do not prove to be successful in controlling air pollution in comparison to water pollution. Furthermore, air pollution is increasing, while water pollution is following a stable, decreasing curve. Hence, some reforms need to be implemented in government policies, particularly those concerning the effectiveness of investment in environmental protection and improving managerial skills in industry.展开更多
The primary health care system(PHCS)is the portal and basis for the national health delivery system.There are a number of elements which comprise the PHCS,but the system cannot be established and developed without the...The primary health care system(PHCS)is the portal and basis for the national health delivery system.There are a number of elements which comprise the PHCS,but the system cannot be established and developed without the support of“three essential elements,”including general practitioners(GPs),health insurance,and government health investment.Through comparative analysis of the“three essential elements”of the PHCS between California in the US and Guangdong in China,this article indicates that there are three important aspects in developing a PHCS in China,as follows:training qualified GPs;establishing a diversified health insurance system to strengthen the policy connections between health insurance and the PHCS thereby increasing government health investment;and broadening health financing channels.展开更多
文摘Based on the panel data of 28 provinces in the year of 1987-2001, this paper examines the effects of the local government investment on economic growth and employment. The empirical result shows that the local government investment plays a significant positive role in economic growth and employment. However, while the proportion of local government investment to GDP had a remarkable rise after 1998, the elasticity of local government investment on economic growth declined, which shows that there is a big room for raising the efficiency of local government investment. Moreover. the empirieal examination shows that although local government investment had positive effect on employment, the elasticity had a decrease after 1994 when the tax-sharing system reform was put into practice. This shows that the positive role of local government investment on employment is also limited This paper argues that the role of local governments as investors must be weakened, and local governments of different levels should lessen direct economic intervention and concentrate on public regulation.
基金Supported by the National Natural Science Foundation of China(12071458,71731009)。
文摘Since China began reforming and opening up its economy,and especially since the launch of development projects in western China,province A has attracted an increasing amount of investment,which is the main driving force for provincial economic growth.Hence,this study uses a state space model to examine how government investment has affected economic growth in province A in western China,and explains whether there is a crowding-in effect or a crowding-out effect of local government investment on private investment.The findings indicate that both government and private investments have a positive,stimulating influence on economic growth in province A,with the latter being more impactful than the former.Productive and non-productive investments have different effects on province A’s economic growth.From the perspective of the trajectory of government investment elasticity,the elasticity of government and private investments in province A presents a very large spatio-temporal change.That is,from 1994 to 2009,government investment in province A had a crowding-in effect on private investment,but from 2010 to 2017,a crowding-out effect was observed.
基金the Beijing Social Science Foundation Project Key Project of the Social Science Program of the Beijing Education Commission(Grant No.SZ202011232024)Ministry of Education Humanities and Social Sciences Planning Fund Project(Grant No.20YJAZH129).
文摘Air pollution poses a significant threat to human health,particularly in urban areas with high levels of industrial activities.In China,the government plays a crucial role in managing air quality through the Air Pollution Prevention and Control Action Plan.The government provides direct financial support and guides the investment direction of social funds to improve air quality.While government investment has led to improvements in air quality across China,concerns remain regarding the efficiency of such large-scale investments.To address this concern,we conducted a study using a three-stage data envelopment analysis(DEA)-Malmquist model to assess the efficiency of government investment in improving air quality in China.Our analysis revealed regional disparities and annual dynamic changes.Specifically,we focused on the Beijing-Tianjin-Hebei areas as a case study,as the investment primarily targeted industrial activities in urban areas with the goal of improving living conditions for urban residents.The results demonstrate significant differences in investment efficiency between regions.Beijing exhibits relatively high investment efficiency,while cities in Hebei Province require improvement.We identified scale inefficiency,which refers to the ratio of air pollutant reduction to financial investment,as the main factor contributing to regional disparities.However,we found that increasing the total investment scale can help mitigate this effect.Furthermore,our study observed positive but fluctuating annual changes in investment efficiency within this city cluster from 2014 to 2018.Investment-combined technical efficiency,which represents the investment strategy,is the main obstacle to improving yearly investment efficiency.Therefore,in addition to promoting investment strategies at the individual city level,it is crucial to enhance coordination and cooperation among cities to improve the investment efficiency of the entire city cluster.Evaluating the efficiency of government investment and understanding its influencing factors can guide future investment measures and directions.This knowledge can also support policymaking for other projects involving substantial investments.
基金supported in part by by the National Natural Science Foundation of China under Grant Nos.71903186 and 71988101in part by the Major Program of National Fund of Philosophy and Social Science of China under Grant No.19ZDA062。
文摘Analysis of how government investment promotes economic development and employment is important for improving government’s decision-making and promoting high-quality economic development in western China.In this paper,the authors take Xinjiang as an example to conduct such an analysis.Firstly,based on the competitive input-output table of Xinjiang,the non-competitive input-output tables of 2007,2012 and 2015 are compiled in this paper.Secondly,the contribution of Xinjiang government investment,especially the major government investment projects,to the valueadded of Xinjiang,other provinces and cities in China and abroad are calculated.Thirdly,this paper uses the non-competitive input-output table to compile the sectoral employment vector,and uses the input-occupancy-output technique to measure how government investment promotes employment.The results show that Xinjiang government investment contributes the most to the value-added of Xinjiang and other provinces and cities,but less to foreign countries;the government investment create the most job opportunities in projects including transportation projects and livelihood projects etc.
基金Supported by the National Natural Science Foundation of China(71988101,71673269)
文摘Government investment plays an important role in promoting and guiding the economic and social development in China.Xinjiang is the core province of the Belt and Road and its economic growth is mainly driven by investment.This paper decomposes the determinants of government investment effect into economic structure change,technological change and investment structure change,using the non-competitive input-output table of Xinjiang province in 2007,2012 and 2015 and structural decomposition analyses.The results show that,the government investment effect in Xinjiang shows a slight decline trend.During the period,the change of economic structure and investment structure have the negative impact on government investment effect,while the change of technology has the positive impact on government investment effect.In addition,these impacts have strong sectoral heterogeneity.
文摘In the context of guarding against financial risks and deleveraging,government investment funds supplement the traditional government debt financing by market-based equity financing,which is regarded as the profound change of the government’s financial management idea and mode.In reality,the practice of China’s government investment funds is still in the stage of“learning by doing”.The diversification of the target,the lack of supervisory experience,the imperfect information disclosure and evaluation mechanism,and the shortage of professional talents pose a challenge to the government’s future risk control and the regulation of government behavior.This paper summarizes the path and trend of the development of government investment funds and the possible risks,and on the basis of international experience,puts forward the measures and suggestions for further standardizing the management of government investment funds and deepening the reform of government investment and financing system.
文摘The Chinese government has made great efforts to increase investment in science, technology and education, Vice Premier Li Lanqing told the country’s top legislators on August 24. A total of 146 billion yuan (about US$17.6 billion) was raised nationwide for science and technology in 1999, representing an increase of 12.5% over the previous year, among which funds for research and development
文摘Realizing the importance of corporate governance, many governments have embarked upon various initiatives. In Malaysia, the recently introduced Green Book program aims to strengthen the corporate governance among the government-linked companies （GLCs）, in view of their significant contributions to the national socio-economic development. The Green Book initiative, launched in 2005, contains, among other things, a provision to create a high-performing board. Performance of GLCs, therefore, is likely to scale better heights with the modification of the constitution of the boards. The present paper aims to examine the association between the selected corporate governance attributes and performance of GLCs in 2010, approximately five years since the implementation of the transformation program. The regression analysis reveals that none of the selected corporate governance indicators has significantly impacted the performance of GLCs. The findings serve as a wake-up call to the authorities to appraise the effectiveness of the transformation program in enhancing the performance of GLCs.
文摘In this paper,we discuss the development process of local government special bonds,and the role channels of local government special debt investment in driving China’s economic growth.Based on the specific decomposition of Xinjiang local government special bond investment,this paper uses the non-competitive input-output model for the first time to analyze the net pulling effect of Xinjiang local government special bond investment on Xinjiang’s GDP and employment in 2020.Two measure calibers are set in this paper based on whether the financing costs are considered or not;in addition,we set up four scenarios based on two conditions:Whether to consider retained fun and whether to consider using special-purpose bond investment to leverage social capital.The results show that:1)when financing costs are not considered,the RMB77.4 billion local government special-purpose bonds can push the GDP of Xinjiang to grow by RMB42.27 billion,RMB35.12 billion,RMB77.548billion and RMB69.34 billion respectively under the four scenarios;2)when financing costs are not considered,the number of jobs driven by the RMB77.4 billion local government special-purpose bonds was respectively 372,300,324,500,718,500 and 601,300 in the four scenarios;3)when financing costs are considered,the RMB77.4 billion local government special-purpose bonds can push the GDP of Xinjiang to grow by RMB71.876 billion and RMB64.268 billion under scenario 3)and scenario 4).
文摘China＇s rapid economic growth poses serious concerns over environmental degradation, especially in the context of higher pollution levels resulting from unprecedented industrial activity. It is commonly held that government policies are effective in the form of investment in pollution control and the imposition of a discharge fee on industrial units for the purpose of safety of environmental quality. In this study, we find that government policies do not prove to be successful in controlling air pollution in comparison to water pollution. Furthermore, air pollution is increasing, while water pollution is following a stable, decreasing curve. Hence, some reforms need to be implemented in government policies, particularly those concerning the effectiveness of investment in environmental protection and improving managerial skills in industry.
文摘The primary health care system(PHCS)is the portal and basis for the national health delivery system.There are a number of elements which comprise the PHCS,but the system cannot be established and developed without the support of“three essential elements,”including general practitioners(GPs),health insurance,and government health investment.Through comparative analysis of the“three essential elements”of the PHCS between California in the US and Guangdong in China,this article indicates that there are three important aspects in developing a PHCS in China,as follows:training qualified GPs;establishing a diversified health insurance system to strengthen the policy connections between health insurance and the PHCS thereby increasing government health investment;and broadening health financing channels.
