On the basis of clarifying and defining rural land transfer, the necessity of rural land transfer is analyzed. Land transfer is the necessity in terms of promoting agricultural scale operation and improving production...On the basis of clarifying and defining rural land transfer, the necessity of rural land transfer is analyzed. Land transfer is the necessity in terms of promoting agricultural scale operation and improving production efficiency; proving opportunities for narrowing urban and rural gap; realizing rural surplus labor transfer and facilitating urbanization. Major problems in the existing rural land transfer are analyzed:unclear laws and regulations and rural land transfer lacks relevant legal protection;rural social security system is imperfect and can not solve farmers' worries after land transfer; farmers and local governments are restricted by traditional ideas and it is hard to carry out the land transfer policies; rural system construction is relatively backward and the rural land transfer market is immature. Countermeasures on the governmental behaviors in rural land transfer are put forward: stipulating relevant administrative laws and regulations and perfecting the political system of rural land transfer; perfecting rural social security system and solving farmers' worries after land transfer; changing the ideas and working style of local officials and leading farmers to form the scientific land transfer outlook;and vigorously promoting the construction of system and positively cultivating rural land transfer market.展开更多
The fiscal system is an important part of national economic management and deals with the division of financial responsibility and power,regulates and defines the fiscal activities among different levels of government...The fiscal system is an important part of national economic management and deals with the division of financial responsibility and power,regulates and defines the fiscal activities among different levels of governments.The changes in economic system and economic structure decide the changes of fiscal function and fiscal structure,which results in the changes in intergovernmental distribution form and local government behavior.This paper takes a look at the stages of China's fiscal reform process and the impacts on local government behavior,and tries to find measures for perfecting the fiscal system reform to optimize local government behavior and guarantee a healthy national economy.展开更多
This paper investigates the effect of local government intervention on capital deepening of manufacturing sector by using interprovincial panel data sets of 28 Chinese provinces,municipalities and autonomous regions b...This paper investigates the effect of local government intervention on capital deepening of manufacturing sector by using interprovincial panel data sets of 28 Chinese provinces,municipalities and autonomous regions between 1994 and 2011.Theoretical research indicates that as a transitional economy,China's local government intervention in corporate investment behaviors will cause excessive investment,thus bringing about a long-term and sustained tendency of capital deepening in manufacturing sector.Empirical test further discovers that in a certain range,the phenomenon of capital deepening in manufacturing sector is not an inevitable result endogenous to economic development and technology progress,and that investment behaviors of manufacturing sector are largely subject to the external institutional environment.Fiscal decentralization has indeed promoted capital deepening of manufacturing sector.Financial credit expansion and interventions in SOEs are major instruments for local governments to intervene in the capital deepening of manufacturing sector and such an influence is particularly significant for China's central,western and northeast regions.Therefore,clarifying government functions and improving local government performance review mechanism are of great significance to the healthy development of China's manufacturing sector.展开更多
Urban investment bonds are another financing method designed by local governments in China to avoid the legal restrictions of urban economic construction, especially urban infrastructure construction under specific ec...Urban investment bonds are another financing method designed by local governments in China to avoid the legal restrictions of urban economic construction, especially urban infrastructure construction under specific economic environment. Although the issuance of urban investment bonds has eased the financing difficulties of local governments to a certain extent, the credit risk of urban investment bonds has gradually emerged due to the rapid increase in the number of urban investment companies and the expansion of the debt scale. In the borrowing process, not only the local government has expanded the land finance, but also the financial transparency has decreased, which will affect the regional economic development level, the urbanization process and the financial and credit status of the city investment companies themselves. Therefore, first of all, the local government should promote the improvement of the tax system, reduce the government's reliance on land finance, actively enhance the government's financial transparency, reduce the information asymmetry between bond issuers and market investors, and reduce the debt risk. Secondly, for the sake of stable growth of local economy, over-investment and development of cities should be avoided. Finally, standardize enterprises to increase credit guarantee, avoid false credit guarantee, and improve the system of public disclosure of corporate financial risk information and the role of third-party market capital in strictly guarding the market, providing a more reliable capital guarantee for the issuance and operation of China's bond market.展开更多
文摘On the basis of clarifying and defining rural land transfer, the necessity of rural land transfer is analyzed. Land transfer is the necessity in terms of promoting agricultural scale operation and improving production efficiency; proving opportunities for narrowing urban and rural gap; realizing rural surplus labor transfer and facilitating urbanization. Major problems in the existing rural land transfer are analyzed:unclear laws and regulations and rural land transfer lacks relevant legal protection;rural social security system is imperfect and can not solve farmers' worries after land transfer; farmers and local governments are restricted by traditional ideas and it is hard to carry out the land transfer policies; rural system construction is relatively backward and the rural land transfer market is immature. Countermeasures on the governmental behaviors in rural land transfer are put forward: stipulating relevant administrative laws and regulations and perfecting the political system of rural land transfer; perfecting rural social security system and solving farmers' worries after land transfer; changing the ideas and working style of local officials and leading farmers to form the scientific land transfer outlook;and vigorously promoting the construction of system and positively cultivating rural land transfer market.
基金This paper is supported by National Natural Science Foundation of China(No.70373051).The authors are grateful to Penny Prime for helpful discussion.
文摘The fiscal system is an important part of national economic management and deals with the division of financial responsibility and power,regulates and defines the fiscal activities among different levels of governments.The changes in economic system and economic structure decide the changes of fiscal function and fiscal structure,which results in the changes in intergovernmental distribution form and local government behavior.This paper takes a look at the stages of China's fiscal reform process and the impacts on local government behavior,and tries to find measures for perfecting the fiscal system reform to optimize local government behavior and guarantee a healthy national economy.
基金funded by Humanities and Social Sciences Research Youth Foundation Program of the Ministry of Education:Challenges of Workforce Absorption of Manufacturing Sector and Solutions-Perspective Based on Capital Deepening(Approval No.12YJC790034)
文摘This paper investigates the effect of local government intervention on capital deepening of manufacturing sector by using interprovincial panel data sets of 28 Chinese provinces,municipalities and autonomous regions between 1994 and 2011.Theoretical research indicates that as a transitional economy,China's local government intervention in corporate investment behaviors will cause excessive investment,thus bringing about a long-term and sustained tendency of capital deepening in manufacturing sector.Empirical test further discovers that in a certain range,the phenomenon of capital deepening in manufacturing sector is not an inevitable result endogenous to economic development and technology progress,and that investment behaviors of manufacturing sector are largely subject to the external institutional environment.Fiscal decentralization has indeed promoted capital deepening of manufacturing sector.Financial credit expansion and interventions in SOEs are major instruments for local governments to intervene in the capital deepening of manufacturing sector and such an influence is particularly significant for China's central,western and northeast regions.Therefore,clarifying government functions and improving local government performance review mechanism are of great significance to the healthy development of China's manufacturing sector.
文摘Urban investment bonds are another financing method designed by local governments in China to avoid the legal restrictions of urban economic construction, especially urban infrastructure construction under specific economic environment. Although the issuance of urban investment bonds has eased the financing difficulties of local governments to a certain extent, the credit risk of urban investment bonds has gradually emerged due to the rapid increase in the number of urban investment companies and the expansion of the debt scale. In the borrowing process, not only the local government has expanded the land finance, but also the financial transparency has decreased, which will affect the regional economic development level, the urbanization process and the financial and credit status of the city investment companies themselves. Therefore, first of all, the local government should promote the improvement of the tax system, reduce the government's reliance on land finance, actively enhance the government's financial transparency, reduce the information asymmetry between bond issuers and market investors, and reduce the debt risk. Secondly, for the sake of stable growth of local economy, over-investment and development of cities should be avoided. Finally, standardize enterprises to increase credit guarantee, avoid false credit guarantee, and improve the system of public disclosure of corporate financial risk information and the role of third-party market capital in strictly guarding the market, providing a more reliable capital guarantee for the issuance and operation of China's bond market.
