学术论文

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  • Shi. X., H. Wang, C. Xing——Journal of Banking & Finance: The Role of Life Insurance in an Emerging Economy

    In this paper, we provide micro-econometric evidence on the determinants of life insurance demand in China, the largest emerging market in the world. We employ the China Household Income Project (CHIP) dataset for the year 2002 in the analysis. The timing is ideal, because of the nature of the less well developed capital markets and social security systems in China in 2002, which sets a suitable stage to study the insurance demand behavior of emerging markets. The results indicate that both the human capital protection motive and the asset allocation motive are important in explaining the purchase of life insurance in China. In addition, we present three empirical regularities: (1) the positive correlation between the returns to human capital and the returns to market portfolio decrease the demand for life insurance; (2) both the current wealth and future income of a household exert curvilinear impacts on life insurance demand; (3) the breadth of a households social connections has substantial impacts on life insurance demand.

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    In this paper, we provide micro-econometric evidence on the determinants of life insurance demand in China, the largest emerging market in the world. We employ the China Hou...[点击详情]

    2014-08-12
  • 吕冰洋,聂辉华 ——《经济理论与经济管理》:弹性分成:分税制的契约与影响

    本文从契约角度分析分税制的性质,并用统一的框架解释了分税制的 正反两方面作用.研究认为:中国的分税制本质上是一个弹性的分成合同系统.它是中央政府与地方政府关于剩余分配的各种子契约的组合.这些子契约可归为四种 基本形式——工资合同、定额合同、分税合同和分成合同,并且它们之间具有很强的互补性,由此构成了一个富有弹性的分成合同系统.在信息不对称的条件下,这 个激励系统能够激励地方政府发展经济,但是易扭曲地方政府行为,促使经济重复建设和粗放型增长模式的形成.

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    本文从契约角度分析分税制的性质,并用统一的框架解释了分税制的 正反两方面作用.研究认为:中国的分税制本质上是一个弹性的分成合同系统.它是中央政府与地方政府关于剩余分配的各种子契约...[点击详情]

    2014-07-25
  • 马光荣 , 刘明 , 杨恩艳——《金融研究》:银行授信、信贷紧缩与企业研发

    企业研发是生产率提升和长期经济增长最重要的源泉,但企业研发需要长期持续不断的资金支持,而且由于其风险高、孵化周期长和信息不对称等因素,更容易受到融资约束的影响。本文使用世界银行在中国12000余家企业的调查数据,用企业是否获得银行授信以及授信额度大小来衡量企业是否有稳定的外部融资渠道,考察了其对企业研发行为的影响。结果发现,企业获得银行授信,其研发概率提高8.6个百分点,研发强度提高0.24个百分点,而且全要素生产率增长也更快。我们还进一步使用2003~2004年宏观调控中的信贷紧缩政策作为一个自然实验,发现受信贷紧缩政策冲击更大的企业,研发支出下降更多甚至是中断研发投资。本文的实证结果表明,缺乏稳定持续的融资渠道是阻碍中国企业创新的一个重要原因。

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    企业研发是生产率提升和长期经济增长最重要的源泉,但企业研发需要长期持续不断的资金支持,而且由于其风险高、孵化周期长和信息不对称等因素,更容易受到融资约束的影响。本文使用世界银行...[点击详情]

    2014-07-24
  • 贾俊雪——《经济研究》:税收激励、企业有效平均税率与企业进入

    文构建一个简单理论模型揭示税收激励影响企业进入的作用机制,然后利用我国2000—2008年间工业企业调查数据和地级市面板数据测算出整个内资、民营和外商投资企业的前瞻性有效平均税率,并以此刻画税收激励,就税收激励对企业进入的影响及其机制作实证分析。研究表明,不同所有制企业存在明显的税收差别待遇:民营企业的有效平均税率最高,外商投资企业最低。降低有效平均税率可显著提升各类企业的进入率,其中对外商投资企业进入的影响最突出;但考虑了个人所得税等其他税种的影响后,税收激励对外商投资企业进入的促进作用明显减弱。税收激励可缓解政府腐败等带来的投资风险对外商投资企业进入以及信贷约束对民营和外商投资企业进入的不利影响,但基础设施条件越好,税收激励对外商投资企业进入的促进作用越弱。

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    文构建一个简单理论模型揭示税收激励影响企业进入的作用机制,然后利用我国2000—2008年间工业企业调查数据和地级市面板数据测算出整个内资、民营和外商投资企业的前瞻性有效平均税率,并...[点击详情]

    2014-07-24
  • Ma, Y.——International Review of Economics and Finance: Monetary policy based on nonlinear quantity rule

    A nonlinear quantity-based monetary policy rule is developed.61A DSGE model is constructed to investigate nonlinearity in monetary policy.61Nonlinearity in China's monetary policy is investigated for the first time.61A significant policy regime shift is identified over the sample period.61Simulation analysis and model comparisons are conducted and discussed.

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    ​A nonlinear quantity-based monetary policy rule is developed.61A DSGE model is constructed to investigate nonlinearity in monetary policy.61Nonlinearity in China's monetar...[点击详情]

    2014-07-23
  • Luo, Y., F. Zhu——Economic and Political Studies: Financialization of the Economy and Income Inequality in China

    The income gap between the financial sector and other sectors has been widening since the mid-1990s. Why do financiers in China earn more than others? We analyze this issue against the background of financialization of the economy. The year 1993 was a watershed year, in which China began the process of rapid financialization. Since 1993, the financial sector has become increasingly powerful, overshadowing other sectors. Evidence shows that the high income levels that exist in the financial sector are related to this process of financialization in China. Financialization influences income distribution in China through two channels: money issuance and liquidation of social capital. The labor market equilibrium of the financial sector and wage level determination are not naturally formed but constructed. The increasing income inequality between the financial sector and other sectors is a consequence of financialization of the economy in China.

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    The income gap between the financial sector and other sectors has been widening since the mid-1990s. Why do financiers in China earn more than others? We analyze this issue ...[点击详情]

    2014-07-23
  • Zhang, H., W. Song, S. Shen, R. Huang——Australasian Journal of Educational Technology: The effects of blog-mediated peer feedback on learners' motivation,c...

    This paper reported on a study of using blogs as out-of-class assignments for the development of learners' writing competence. There were 36 students of English majors from an intact second language (L2) writing class participating in this study. A mixed method design was employed to obtain both quantitative and qualitative data. The results showed that blog-based peer feedback had a statistically significant positive correlation with learners' motivation, collaboration, and course satisfaction. The findings also revealed that the feedback was conducive to learners' self-reflection and self-confidence in L2 writing and could give rise to an enhanced L2 writing experience. The study concludes that group collaborative writing via blogging can not only encourage collaboration and self-reflection but also engage learners in noticing and co-construction of knowledge. Pedagogical implications and challenges are addressed and suggestions for future research are advanced.

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    This paper reported on a study of using blogs as out-of-class assignments for the development of learners' writing competence. There were 36 students of English majors from ...[点击详情]

    2014-06-28
  • 张杰 ——《中国金融》:金融发展中的制度博弈

    眼下,中国的金融体系正处在又一轮调整和变革的重要时期。自2001年中国加入世贸组织以来,虽然决策层在扭转金融支持型经济增长格局方面改革举措频出,但从总体上看,稳定而有效的金融发展模式还远未形成。尽管以改制上市为标志,国有商业银行体系的资本与治理结构已经发生显著变化,但其退出原有经济增长逻辑的绩效仍未显现,资本侵蚀和不良贷款形成的原有机理仍未从根本上得以解除。同时,以民营银行为主体的"新兴"金融制度的发展尚存不少变数。特别是,虽然几经制度调整,能够较好满足中小企业特别是中国广大农村金融需求的金融体系远未建立。目前,农村金融发展策略经过几度挫折和"试错",似乎已经逐步触及问题之根本,但要使相关政策得到

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    眼下,中国的金融体系正处在又一轮调整和变革的重要时期。自2001年中国加入世贸组织以来,虽然决策层在扭转金融支持型经济增长格局方面改革举措频出,但从总体上看,稳定而有效的金融发展模...[点击详情]

    2014-06-24
  • 岳希明 , 张斌 , 徐静——《中国社会科学》:中国税制的收入分配效应测度

    测度税制的收入分配效应对改善中国收入分配状况具有重要意义。根据传统税收归宿分析方法,使用具有全国代表性的住户调查数据和资金流量表,计算每个家庭承担的税负总额,观察它与收入水平之间的关系,结果显示:中国税制整体是累退的,个人所得税等累进性税收,在一定程度上减弱了间接税的累退性,但因其规模小,不足以完全抵消间接税的累退性。有效税率与收入之间的关系在城乡之间存在明显的差异,税收的累退性在农村较城镇更为明显。

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    测度税制的收入分配效应对改善中国收入分配状况具有重要意义。根据传统税收归宿分析方法,使用具有全国代表性的住户调查数据和资金流量表,计算每个家庭承担的税负总额,观察它与收入水平之...[点击详情]

    2014-06-24
  • 岳树民,董正,徐廷玗——《税务与经济》:完善税收政策,促进小微企业发展

    为促进小微企业健康发展,我国出台了一系列税收政策解决其生产经营中存在的税负重、融资难、竞争力弱等问题,一系列的税收扶持政策发挥了积极作用。但是,现行小微企业税收政策依然存在缺乏体系规划、力度不足、方法欠科学等问题。因此,需要从政策体系构建、政策优化、创新扶持方法等多个方面完善小微企业税收政策,以进一步促进小微企业的持续稳定健康发展。

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    为促进小微企业健康发展,我国出台了一系列税收政策解决其生产经营中存在的税负重、融资难、竞争力弱等问题,一系列的税收扶持政策发挥了积极作用。但是,现行小微企业税收政策依然存在缺乏...[点击详情]

    2014-06-24