Correlation between Financial Development and Industrial Growth in China

A brief introduction of literature on the nexus of financial development and growth in the economy is given first. In the light of traditional thinking over the nexus of financial development and growth, an empirical analysis,by the method of SURE in the framework of two sector model, of the causality of China financial development and industrial growth is carried out covering the relative data since the adoption of reform and open policy.The externalities of finance over industry and industry over tinance show that the supply leading version is prevalent in the chines economy. Finally the policy implication is suggested.     

Creativity and Inequality: The Dual Path of China's Urban Economy?

Utilizing Chinese data for the years of 1998, 2000, 2005, and 2008, this research traces the growth of the creative economy and the enlarging income inequality in China's urban economy. While the creative sector now makes up close to 30 percent of China's urban private employment, industry‐based earnings disparity has also increased substantively. Provinces with larger creative economy also tend to have higher level of wage inequality among workers of the creative sector, the working sector, and the service sector. Several other factors, especially internal migration flow, size of manufacturing, and ownership structure in local economy, are found to be significantly linked to inequality as well.     

An “Orphan” Creative Industry: Exploring the Institutional Factors Constraining the Canadian Fashion Industry

In recent years, tier‐two fashion countries have been making gains in the global fashion industry, with hip young brands, buzz‐worthy fashion weeks and export‐oriented designers. The Canadian fashion industry, on the other hand, continues to fall behind and instead has experienced recent high‐profile closures of leading domestic fashion names. This paper explores why this is the case by considering a wide range of factors from a historical and institutional perspective. We argue that Canadian fashion is facing a number of systemic problems relating to wider institutional and policy weaknesses, rather than a lack of talent and know‐how within the entrepreneurs and businesses in the sector. While the fashion industry is indeed global, we argue that it is in fact national and local level factors—political, economic, and cultural—that structure and constrain the Canadian fashion industry for independent designers. Through exploring the experiences of this group of actors—entrepreneurial fashion designers—in this particular context, we not only learn about Canada as an economy but also what is needed in order to develop the fashion industry more broadly. We provide a framework for analysing the range of socio‐economic, historical, and political factors at the national level which affect the performance of the fashion sector and the operation of fashion designers as the entrepreneurial actors at the heart of the industry.     

中国潜在产出测算实证研究

在对中国潜在产出测算研究状况进行评介的基础上，分别使用H-P滤波法和生产函数法估算了中国1978—2004年间的潜在产出、产出缺口和潜在产出增长率。结果表明：（1）1978—2004年间，中国的产出缺口出现了波动水平正负交替的周期情形；（2）1995年以前产出缺口的波动幅度比较剧烈且较为频繁，1996年特别是1999年以后产出缺口的变化较为平缓；（3）1997年以后，虽然经济的增长率保持较高的水平，但是生产要素的实际利用水平却逐渐降低；（4）生产函数法得到的结果基本客观的反映了改革开放后，中国开始从计划经济向市场经济过渡到市场经济初步建立这一时期的生产要素使用情况。（5）根据H-P滤波法和生产函数法估算的潜在产出，得到1978—2004年间的平均潜在产出增长率分别为9.54%和9.67%。根据估计结果，在今后几年，通过适当的宏观调控，把中国的经济增长率稳定在 8%~9%可能是一个较好的选择。     

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 Spatial Dimension of Trade‐ and FDI‐driven Productivity Growth in Chinese Provinces: A Global Cointegration Approach

This paper analyses the major determinants of long‐ and short‐run labour productivity evolution for Chinese provinces between 1978 and 2010. The role played by openness to trade and foreign direct investment (FDI) constitutes the main focus of this analysis. From a methodological perspective, our main contribution is the inclusion of spatial effects into a dynamic error correction modelling framework. The results show that, in addition to domestic factors such as investment intensity and infrastructure use, trade openness and inward FDI also exert a direct impact on labour productivity. Furthermore, the geographical environment has a strong indirect influence on productivity: The more a region is surrounded by high‐productive regions with good infrastructure and linkages to the world economy, the higher are its productivity level and growth rate. The magnitude of these impacts varies by spatial regime (coastal, interior provinces) and time period in focus. Especially in the recent past, trade and FDI activity appear to be increasingly important drivers of regional productivity evolution, both for coastal and interior regions. These findings have important policy implications: In order to fully exploit the benefits from such spillovers, coordinated industrial policies which foster regional complementarities and support the free movement of production factors across regional borders are crucial.     

Economic Gain and Loss from Public Infrastructure Investment

ABSTRACT The purpose of this study is to analyze the effects of transportation investment on the Korean economy using the dynamic Computable General Equilibrium model. The result of the counterfactual analysis shows that infrastructure investment policy has the advantage of economic growth, but the disadvantage of price inflation. The elasticities of infrastructure investment with respect to GDP, export, private utility, and inflation depend on institutional restrictions on the domestic inflow of foreign capital and financing alternatives for infrastructure projects. The growth effect of transportation investment would be maximized if regulations on inflow of foreign capital to the private sector were lifted. On the other hand, the effect of transportation investment on inflation would be minimized if transportation investment expenditure were completely financed by tax revenues.     

Producer services and growth management of a metropolitan region: the case of Kuala Lumpur,Malaysia

Producer services growth can change the character of a metropolitan region. Achieving that outcome may require the intervention of government, which is not necessarily a simple process as it creates tension between regulatory and developmental roles for government. This paper will address three interrelated issues in connection with the above-mentioned core idea in the context of the city of Kuala Lumpur, Malaysia: first, the extent to which the evolution of the Malaysian economy has been felt in the growth of the service sector; second, the way that evolution has led to change in the sectoral and spatial character of Kuala Lumpur; third, government’s responses in terms of spatial planning and management in order to accommodate producer services growth. The experience of the Kuala Lumpur region shows how global market forces and national development policies that influence producer service location and growth can reshape the spatial arrangement of a metropolitan region. Managing the growth of producer services calls for new approaches to manage metropolitan change. An ‘enabling’ model is proposed to replace the present ‘policing’ model of spatial planning.     

The New Retail Economy of Shanghai

ABSTRACT As Shanghai strives to build itself into an international center of finance, trade, and commerce, a new retail economy has evolved accordingly. In the past two decades, its retail sector has been transformed from a simple and inefficient distribution system to a much more complex and highly competitive market‐oriented economy. The new retail economy in many ways resembles the contemporary capitalist retail economy in the Western cities, but it also exhibits significant differences with Chinese characteristics. While the affluent consumer market is the necessary condition for sustained retail growth, it is the retail deregulation that has been the fundamental driving force for the structural changes in Shanghai's retail sector. Its liberal policies attracted major international retailers to either choose Shanghai as the gateway city to enter the China market, or locate their China headquarters offices in Shanghai to command their operations throughout the country. Indeed, the retail transformation in post‐reform Shanghai is a clear testimony of the Economic Transition Model. The main data sources for this empirical study are the 1999 Census of Commercial Activity in Shanghai and the Shanghai Statistical Yearbook. They are supplemented by data collected from reputable Web sites and through field work in Shanghai.     

Unemployment,Growth, and Trade Unions

This paper develops a two‐sector endogenous growth model with a dual labor market caused by the operation of trade unions. Trade unions strive for the extraction of rents from the growth generating imperfectly competitive primary sector. This union behavior results in a non‐competitive wage differential between the primary and secondary (perfectly competitive) sector. How the relationship between growth and unemployment depends on the institutional details of the labor market is analyzed. In general, growth and unemployment are intimately related for two reasons. Unemployment affects the scale of operation of the economy and thereby the growth rate. Growth affects inter‐temporal decisions of workers about where to allocate on the labor market once they are laid off, and thereby it affects equilibrium unemployment.     

Producer Services,Labor Market Segmentation and Peripheral Regions: The Case of Saskatchewan

ABSTRACT Within the last decade, a considerable literature has emerged on the growth and location of producer services employment in North America, and in the role of labor market characteristics in shaping these changes. One of the outcomes of this research has been the realization that producer services are overwhelmingly concentrated in metropolitan areas, and that there is a strong core-periphery dichotomy in the representation of these activities. This paper explores the labor market characteristics of a set of producer service activities within the peripheral urban hierarchy of Saskatchewan, Canada, dominated by the regional cores of Saskatoon and Regina, and surrounded by ten peripheral regions. The data set was provided by Employment Canada, and divided into Canada Employment Centre (CEC) Areas. It was found that the higher order producer services, such as Finance and Business Services, are significantly underrepresented relative to the rest of Canada, while others, such as Services to Primary Producers and Transportation and Communications, are significantly overrepresented. However, the nature of these services, as reflected in their labor market characteristics, are very different. Gender and the role of part-time labor appear to be distinguished on the basis of the specific producer service sector, with very few distinctions across space. On the other hand, differences in the roles played by part-year labor is less related to the sector and more related to position within the peripheral hierarchy. Although the heartland-hinterland model is usually applied at national or even international scales of analysis, the nature of the segmentation of the producer services labor force, and its relationship to urbanization and development of the sector, imply that the model can in fact be used as a fiamework for analyzing intraregional employment relationships within the periphery. This study highlights the nature of the labor force as one aspect of this framework.     

Government Policy and the Export Performance of the Mexican Automobile Industry

ABSTRACT This paper presents a historical perspective of growth of the Mexican automobile industry, focusing on the changing position of Third-World producers within the global motor vehicle industry. Both the impact of Mexican government policies directed toward increasing international competitiveness and that of adjustments made by transnational corporations to changes in technology and production methods are reviewed. Finally, a demand function that relates the proportion of the industry output that is exported to relative producer prices, Mexican and U.S. income, and government policy variables is estimated. The results of that analysis are consistent with the hypotheses that Mexican automotive sector exports are significantly related to (1) relative Mexico/U.S. producer prices, (2) income in the United States, and (3) changes in Mexican government export promotion policies initiated in 1983. These specific results, coupled with the global changes taking place in the industry, lead to the conclusion that Mexico can be expected to continue on its course toward fuller integration into the world motor vehicle industry as a producer of both finished vehicles and parts. While this would be a probable scenario even in the absence of the North American Free Trade Agreement, the Agreement is likely to accelerate the growth of internationally competitive automotive sector production in Mexico.     

Regime,Polity, and Economic Growth: The Latin American Experience

ABSTRACT This article conducts a time series cross-sectional analysis of Latin American countries over the period of 1982–1988; it examines the relationship between regime type (civilian/military) and polity type (democratic/authoritarian) on one hand, and economic growth on the other, taking advantage of a specially designed econometric method and the availability of large economic and political data sets. The conclusion from this study is that the economy grows faster under a civilian government than under a military government, and both political rights and civil liberties contribute to growth.     

Producer Services and Flexible Production: An Exploratory Analysis

While the flexible production literature has become increasingly abundant in recent years, the vast majority of it is narrowly restricted to manufacturing activities, entirely ignoring the role that producer services play in modern systems of production. This paper attempts to explore the conceptual linkages between the growth and the location of producer services, on the one hand, and the rise of flexible forms of production, on the other. After a brief summary of the flexible production approach, the factors underlying the growth and the increasing externalization of producer services are examined. The appropriateness of employing a flexible production framework in the case of producer services, and the significance of flexible production for understanding the location of producer services are then explored. Finally, the labor force effect of flexibility in the production and use of producer services is considered.     

雷公藤育苗气象因子影响分析与温室控制

为了探索雷公藤育苗过程中的生产规律,更好地掌握气象主要因子对雷公藤温室育苗的影响,提高雷公藤种苗的数量和质量,本研究以试验地的方式,对雷公藤温室与大田育苗的生长规律进行对比观测,并对温室育苗中的主要气象因子采取调控方法。试验结果表明：（1）温室培育的雷公藤苗年生长规律与大田苗年生长规律基本相同,年生产期约252天;（2）雷公藤苗木期较耐荫,温室育苗时适当遮荫,有利于苗木生长,即遮荫度50%较好;（3）雷公藤喜湿润的生长环境,水分对雷公藤温室苗生长影响较大,即供水量1400 mm的高度供水较佳;（4）雷公藤对生态环境的要求是忌风、少蒸发;（5）气温变化小,对雷公藤生长有利。本试验得出一般性结论：主要气象因子对雷公藤苗木生长有重要影响,在温室育苗中中度遮荫、加大供水、少风、减少温差等合理控制,有利于提高雷公藤的品质和产量。     

Measurement and Analysis of Industrial Productivity of Chongqing

Productivity is the most basic index to measure efficacy of a production system in industrial economy. The measurement of productivity is the first step of its management. With the huge push of Reform and Opening,industrial economy of Chongqing is keeping a steady growth.The authors use production function to measure the industrial productivity of Chongqing from 1979 to 1999,and analyze its developing trend.     

Neoliberalism and the Urban Economy in Ghana: Urban Employment,Inequality, and Poverty

Ghana is one of a few African countries where more people now reside in cities than in the countryside. What is not as well‐known are the changes that have taken place in the economic base of Ghanaian cities. This paper tells that story. It focuses particularly on jobs, incomes, inequality, and poverty, and their characteristics in an era when neoliberal policies have been implemented. It draws on census reports, national surveys, and published reports in order to overcome the dearth of information about the urban and national economies. The paper shows that, on the one hand, the increasing prominence of the private sector in the urban economy has impacted positively on capital formation and job creation. On the other hand, urban and national inequality levels have dramatically increased. Whether these changes are favourable to the majority of urban citizens is contestable.     

Game Analysis of Banking Supervision

Banking has a high gearing lever and its operators are keen to the risk projects with the lure of high income. The supervision sector should regulate the banks and force them to reduce risks to ensue the healthy circulation of county's economy. The supervisor should report the disclosed risks to the supervision sector so that they can alert the risks in advance and control them ,but the sector must take action to prevent the collusion between the operators and supervisors.     

The Successful Transition to a Knowledge‐Based Development Path of a Less‐Developed Region

This paper presents the case of a less‐developed EU region—the Pomeranian region of Poland—that is, an example of the successful transformation from a command to market economy and the creation of a new knowledge‐based development path thanks to the upgrading of its innovation model. This successful transformation was based, in part, on the region's specific innovation policy and the activities of pro‐innovative institutions; however, other factors were also important such as the diversified structure of the region's economy. New knowledge‐based industries have developed in the region, while the potential of traditional industries that have gone through a restructuring, has been maintained. The factors that existed prior to the innovation model's transformation included such aspects as the high quality of human and social capital, a strong academic center, a high quality of life, and an open economy and society. Supply factors in the form of qualified personnel were crucial for the growth of employment in new industries and R&D that determined the improvement of the regional GDP per capita. Moreover, the transition to a knowledge‐based economy stimulated an increase in the concentration of population in the metropolitan area of Tri‐City.     

河南省生态文明水平时空分异及关联分析

为深入了解区域生态文明的水平及其演进特征与影响因素,本文从生态现状、生态保护、生态经济、生态文化四个方面构建了生态文明评价体系,采用灰色关联模型,评价了河南省2005-2015年生态文明水平。结果表明：(1)2005-2015年,河南省生态文明整体水平在逐渐改善,全省生态文明指数平均值为0.460、年平均增速1.92%,但地区增长较不平衡,水平越高城市的增长速度就越快,反之亦然。(2)2005-2015年,河南省生态文明水平出现两级分化现象、地域差异明显,呈现豫西南高、豫东北低的空间特征。(3)各子系统的生态文明指数依次为：生态现状>生态文化>生态保护>生态经济;生态文明指数(C1)与生态现状(C2)和生态文化(C5)的关联度最高,关联系数分别为0.9454和0.9210,呈显著相关(p<0.05)。(4)影响河南生态文明水平的因素依次为：人均地区生产总值(X25)、人均耕地面积(X6)、人均公园绿地面积(X8)、环境污染治理占GDP的比重(X17)、第三产业占GDP的比重(X18)。