Physical Capital,Human Capital,and Social Capital: The Changing Roles in China's Economic Growth

This paper examines the roles of physical capital, human capital, and social capital in China's economic growth during the reform period 1981–2010. Empirical estimation confirms that physical capital and human capital contribute to the economic growth, probably due to the capital accumulation and the improvement of labor productivity. The impact of social capital turns from being insignificant in the 1980s and the 1990s to be positive in the 2000s, suggesting its rising importance in recent decades. A declining role of physical capital in the economic growth in China from 1990s to 2000s is also found. The findings hold for several additional robustness checks, including focusing on longer term determinants of the economic growth, subregional analysis, and endogeneity. Furthermore, the foreign direct investment inflows and adjustment of economic ownership structure are also important for economic growth in China.     

The Quality of Education,Educational Institutions,and Cross‐Country Differences in Human Capital Accumulation

ABSTRACT Cross‐country studies of education and economic prosperity often reach conflicting results when using growth rates as the measure of economic development. However, growth rates lack persistence over time and may not accurately measure long‐term economic success over relatively short economic horizons. To overcome this potential specification problem, we estimate the relationship between key education variables and the capital to physical labor ratio. Using both cross‐sectional and panel specifications, we find that both the primary‐pupil–teacher ratio and decentralized education finance are associated with a larger capital to physical labor ratio. The relationship between human capital and expenditures, private education, and test scores are less robust.     

An Empirical Analysis on the Correlation between China''s Stock Market and Economic Growth

The correlation between China stock market and economic growth is always regarded by economic and financial studies. For the time limit of the developing of stock market and the difficulty of data's collection, it is still in studying that the correlation between stock market and economic growth, especially the causation versus regression. By the method of Demirguc - Kunt and Levine,this paper empirically tests the correlation between China's stock market and economic growth on the seasons serial data from 1995 to 2000. The conclusion is that the relationship economic growth between stock market is unilateral.     

中国粮食主产区农业科技进步贡献率的测算与分析

为了深入研究农业科技进步对中国粮食主产区农业经济增长的影响,揭示中国农业科技进步在农业经济增长中的作用机理,探讨农业科技进步对农业经济增长影响的区域差异及其产生原因。作者基于C-D生产函数的一般形式,建立固定效应变参数面板数据分析模型,并依此对中国粮食主产区农业科技进步贡献率进行了详细地测算和分析。研究表明：中国粮食主产区农业科技进步贡献率存在明显的区域差异,反映出中国农业科技发展水平呈现区域不均衡状态;1978—2012 年间全国13 个粮食主产区的农业科技进步贡献率分别在17.28%~33.82%之间,全国粮食主产区平均水平为26.22%;在生产要素的投入中,资本存量的科技含量水平对农业科技进步贡献率的影响较大;农业科技进步在中国粮食主产区农业经济增长过程中所起的作用仍然较小,中国农业经济增长所依赖的传统的高投入、高消耗、低效益、低产出的粗放式增长方式并没有发生根本性的改变。     

An Empirical Analysis on the Connection between China''s Stock Market and Economic Growth

The connection between China's Stock Market and Economic Growth is always regarded by economic and finances studies. For the time limit of the developing of stock market and the difficulty of data's collection, it is still in studying that the connection between stock market and economic growth, especially the causation versus regression. By the method of Demirguc - Kunt and Levine,this paper empirically tests the connection between China's stock market and economic growth on the season serial data from 1995 to 2000.The test indicates that there are insignificant between them.     

Innovation and Regional Growth in the Enlarged Europe: The Role of Local Innovative Capabilities,Peripherality, and Education

ABSTRACT In this paper, a formal model for the relationship between innovation and growth in European Union regions is developed drawing upon the theoretical contribution of the systems of innovation approach. The model combines the analytical approach of the regional growth models with the insights of the systemic approach. The cross‐sectional analysis, covering all the Enlarged Europe (EU‐25) regions (for which data are available), shows that regional innovative activities (for which a specific measure is developed) play a significant role in determining differential regional growth patterns. Furthermore, the model sheds light on how geographical accessibility and human capital accumulation, by shaping the regional system of innovation, interact (in a statistically significant way) with local innovative activities, thus allowing them to be more (or less) effectively translated into economic growth. The paper shows that an increase in innovative effort is not necessarily likely to produce the same effect in all EU‐25 regions. Indeed, the empirical analysis suggests that in order to allow innovative efforts in peripheral regions to be as productive as in core areas, they need to be complemented by huge investments in human capital.     

Theory and Empirical Study on Distribution and Growth Based on Borrowing Constraints

This paper develops an endogenous model to study the effect of income distribution on growth based upon the Credit Market Imperfection .The model shows that initial inequality is harmful for growth when credit constraints are binding. The Fesults of testing the effect of income distribution on growth using cross-section data at the provincial level of China show that inequality is harmful for growth , human capital especially above primer and secondary male human capital improves growth.     

How Fast Do We Grow?

The purpose of this paper is to analyze whether major results from Mankiw, Romer, and Weil (1992) cross national study on productivity convergence hold when applied to U.S. states where there is more uniformity of institutional factors and homogeneity of the economic data. Similar to the international studies, this paper identifies the contribution of factor inputs and human capital by state for the period 1969–88. The study finds a strong tendency for convergence even when controlling for other factors, with human capital growth being most important; the speed of convergence is roughly twice as high as between countries.     

Increasing Returns to Scale in Affluent Knowledge‐Rich Economies

This paper departs from the existing growth literature in not assuming a priori a specific production technology and offering instead a theory of production technology that captures the effects of changes in the level, composition, and forces of accumulation of capital on the productivity of an economy. The theory of production technology shows that an affluent knowledge‐rich economy violates the Inada second condition because of its high level of knowledge, human, and social capital. Substitution of knowledge capital for physical capital and the self‐reinforcing nature of the process of accumulation of knowledge, human, and social capital are the engines of growth in such economies. Poor economies, on the other hand, may exhibit neoclassical production technology of diminishing returns to capital and get trapped into a low‐level steady state owing to their ever‐growing need for physical capital and also to unfavorable supply conditions for knowledge capital, lower levels of knowledge, human, and social capital in these economies being inadequate to trigger the self‐reinforcing dynamics. The mechanics of endogenous growth are essentially different in rich and poor economies because the production possibility surface is non‐convex in the former, and this difference explains the sustained divergence of their growth rates.     

The Influence of Agglomeration Externalities on Manufacturing Growth Within Indonesian Locations

Differences in agglomeration externalities and industrial regimes between locations generate performance differentials for their localized economic activities. For more than two decades, scholars have debated which externality is dominant for growth and under which regime. This study aims to resolve this debate by analyzing the influence of agglomeration economies on the growth of five‐digit manufacturing sectors and firms for Indonesian cities and regencies between 2000 and 2009. This is investigated employing the recent reconceptualization of variety based on sectoral linkages distinguishing related and unrelated varieties, which allow assessing their idiosyncratic economic roles. The findings support that economic relatedness is the dominant source for expansion of sectors and firms within Indonesian locations. Specialized clusters and competition are inversely related to manufacturing growth, although the latter fosters sectoral employment within Indonesian regencies. Population density and human capital show antithetic effects between cities and regencies due to their distinctive urbanization trajectories and industrial compositions.     

Human capital agglomeration,institutional barriers,and internal migration in China

This paper investigates how human capital agglomeration interplays with institutional factors to affect migration destination choice in China. Over the last decades, China has experienced massive internal migration, substantial human capital investment, and the relaxation of its hukou system, thus providing us with a valuable opportunity to examine the role of human capital externality in migration choice. Based on rich data on province-to-province migration flows for different education and hukou groups, we find that migrants in China, especially highly educated and urban-to-urban migrants, have a strong preference to move to provinces with a high agglomeration of human capital. Further examination reveals that low-skilled migrants in China are less likely to benefit from human capital agglomeration because of their lower ability to overcome hukou restrictions. Our findings raise the concern that labor migration under the skill-biased hukou system would enlarge China's regional disparities in human capital and economic development.     

Rural Crime and Social Capital

This study explores rural U.S. crime patterns with a focus on social capital. We use a triangulation of three core theories of crime including social disorganization, anomie/strain, and rational choice theories to develop a formal theory and an empirical framework. The role of four unique measures of social capital is explored in understanding patterns of rural crime using nonmetropolitan U.S. county data. The empirical results generally support the theoretical predictions and conclude that rural communities that pursue economic growth and development must be prepared to address the resulting upward pressures on crime. The results on social capital and crime provide numerous policy insights for rural communities.     

Efficiency and TFP Growth in the Spanish Regions: The Role of Human and Public Capital

Abstract This paper analyzes the productivity growth of the Spanish regions between 1965 and 1995, decomposing productivity gains into technological progress and efficiency change by means of Malmquist indices. Once estimates of efficiency are obtained, the aim of this paper is to analyze the effects of human and public capital on growth in terms of their impact on Total Factor Productivity (TFP). Public capital is believed to increase the productivity of the private factors of production whereas human capital is thought to contribute to the production process as an additional input and to have a dynamic influence on growth through its impact on technological innovation (shifts in the production frontier) and technological diffusion (movements toward the frontier), which are the components of this TFP measure. Considering inefficiencies will then allow the effects of these variables on TFP growth to be estimated via technological progress and efficiency gains.     

Protected Area Designation,Natural Amenities,and Rural Development of Forested Counties in the Continental United States

Policy makers who wish to spur economic development in rural forests face challenges that include population decline and poverty. Protected land and natural amenities enhance the quality of life and prospects for economic development, but there is limited research on how different types of protected land or natural amenities affect the rural forest economy. We use county level variables for protected areas differentiated by access and extractive use, and natural amenities differentiated by climate, water area, and topography to explain spatial variation in labor and built space markets. Results show that temperate summers and water area increase wages and housing prices and explain more than 30 percent of the spatial differences in wages, housing price, employment density, built space percent, human capital, and local road density. Protected area decreases wages, but, if open access, increase housing prices and human capital and explain more than 20 percent of the spatial differences in human capital, built space percent, and local road density.     

Human-capital selectivity in interstate migration

"Using Public Use Microdata Sample A from the 1980 United States Census, human capital measures are developed and used to test whether states experience human-capital migration that is significantly different from human migration. Strong evidence demonstrates that human-capital migration differs significantly from human migration. For example, Arkansas and Vermont are shown to have a net in-migration of people, but a net out-migration of human capital. Conversely, the data for Connecticut and Minnesota indicate a net out-migration of people and a net in-migration of human capital. This study suggests that traditional models of interstate migration mask the flow of human capital."     

Internal and external constraints of the Cuban production sector

This paper aims to explain the growth of the Cuban production sector between 1975 and 2014 by considering both demand and supply factors simultaneously. The research provides new empirical data on this topic through the application of a simultaneous equation model that considered the effect on the product of internal and external constraints most relevant to the Cuban economy, and the impacts of these over time. Its results confirm that the growth of the Cuban production sector was primarily limited by two factors: On the one hand, an overly centralized regulatory framework that reduces the global efficiency of the Cuban economy; and, on the other hand, a foreign exchange deficit that restricts its import capacity and the sustained growth of the Cuban capital stock. Therefore, the Cuban production sector's growth could be fostered by both a greater decentralization of its regulatory framework and the implementation of industrial and commercial policies geared to make Cuban exports more competitive.     

State Infrastructure and the Geography of Employment

ABSTRACT The effects of state public capital investment on economic growth is an important question that has been the focus of a recent substantial research effort. But the majority of this research has ignored these investments’influence on the intra-state pattern of economic activity. Yet if external agglomeration economies are important determinants of growth, then investments may indirectly affect growth by fostering or discouraging agglomeration. This paper discusses the effect of state infrastructure investments on the distribution of employment within states and the implications of these spatial effects for aggregate state employment growth. Preliminary empirical results suggest that state infrastructure investments tend to redistribute growth from areas of dense employment to other parts of the state. This redistribution may diminish agglomeration benefits offered by cities, which has the potential to reduce state growth. The paper concludes with a discussion of implications of the work for research and policy.     

基于人力资本的县域经济增长模式 ——以寿光市为例

20世纪60年代以来兴起的现代人力资本理论及科学技术的广泛运用，劳动生产物中凝聚了越来越多的智力因素等，人力资本是现代经济增长的主要驱动力是十分明显的；我国目前正进入城市化进程加速时期，加快县域经济的发展是必经之道。主要采用计量经济分析方法、动态分析方法和比较动态分析方法，选取了基于人力资本的寿光市经济增长模式这一课题来进行研究，试图发现人力资本对经济增长的贡献程度以提出更好的利用人力资本提升经济增长来加快城市化进程的对策与建议。