Study on Human Capital Valve Quantity Model and Investment Featuers

Human capital, the most active and valuable element ofproductivity, is the primary drive and crucial factor in thegrowth and development of modern regional economy.However, because of many different meanings about theconception of human capital and the complexity of itsevaluation, the measure and calculation of human capitalhas become a difficult problem. As yet, there is neither acommon measure means of human capital nor enoughcognition of its investment features.1 HUMAN CAPITAL VALUE …     

绿色经济新理念及中国开展绿色经济研究的思考

联合国里约20周年世界峰会的重要内容之一是倡导绿色经济。绿色经济的概念最早在1989年由英国环境经济学家Pearce提出,但现在的绿色经济却具有全新的意义。本文基于参加联合国有关绿色新政和绿色经济的政策咨询和研究报告,论述了绿色经济的基本背景、三重效益、研究模型以及绿色经济与生活质量的关系,对如何开展中国绿色经济研究进行探讨。首先,文章认为在深入探讨绿色经济前,需要了解当前发展绿色经济的基本背景,明确为什么要发展绿色经济、什么才是我们所需要的绿色经济,以及怎样促进绿色经济发展三个基本问题。其二,绿色经济与褐色经济的情景模拟表明,绿色经济发展模式具有更好的三重底线效益。联合国的T-21模型对过去40年(1970-2010)及未来40年(2010-2050)进行了绿色情景与褐色情景两种模拟,认为在自然资本的环境收益方面,绿色经济发展情景下自然资本的退化得到了基本遏制,而褐色经济发展情景下自然资本的退化会进一步增强;在物质资本的经济收益方面,绿色经济发展情景下,2020年以前经济增长率(2.5%)会低于褐色经济(3%),但从长期平均增长率看绿色经济发展模式(2.5%)可以带来比褐色经济发展模式(2%)更好的经济增长;在人力资本的社会效益方面,在2030年以前绿色经济发展情景下就业机会有小幅减少,但长期来看,绿色经济能够创造与褐色经济同样多的就业机会,甚至可以有小幅的增加(0.6%)。其三,绿色经济研究模型表明,绿色经济投资于自然资本可以实现所需要的经济社会发展与自然资本消耗的脱钩。绿色经济假说是:将资金投资于提高资源能源效率与扩大自然资本两个方面,是否能够导致更好的经济社会发展。基于该理论假设,联合国等国际组织将自然资本引入生产函数,建立了Threshold-21模型,证明绿色经济即投资于自然资本可以实现所需要的经济社会发展与自然资本消耗的脱钩。其四,绿色经济发展模式不仅有利于经济增长,同时能够增加生活质量。绿色经济假说,强调了绿色投资对生活质量有正的影响。通过生态绩效模型、结构方程模型以及典型案例研究等三种方法进行分析,研究表明:减少自然资本消耗可以减少生态环境的治理成本和维护成本、维持与增加自然资本对人类的功能;可以提高自然资本的生产效率,用较少的自然资本投入达到社会稳定所需要的人造资本;可以提高人造资本的服务效率,用一定的物质存量为更多的人服务。其五,开展深化中国绿色经济理论与绿色发展模式的系统研究。联合国等国际组织倡导的绿色经济可以给我们发展中国的绿色经济带来新的启示,笔者认为对中国绿色经济理论与绿色发展模式开展深入和系统的研究,应该包括理论内涵、实证分析、发展情景、行动领域、政策体系等五个依次递进、前后照应的研究模块。     

Analysis of the Energy Embodied in Foreign Goods Trade of China

Abstract

In recent years, scientists have been increasingly interested in the energy embodied in traded goods among countries. In this article, the direct energy intensities in various economic sectors of China were calculated with the data of energy consumption and output value of each sector, and the input–output table was used to estimate the external energy consumption. The total energy intensity of all sectors was then obtained. From the data of international trade, the energy embodied in goods trade of China was estimated for the period of 1994–2001. During this period, the average energy intensity of imported goods was always higher than that of exported ones. As a country with a surplus in international goods trade, China actually imported net embodied energy in the past few years. The net embodied energy imported was at the same magnitude of the imported energy in the form of fossil fuels.     

The Three Gorges Project in Figures

Abstact

Ecological city is the advanced mode of harmonious development of city. Constant improvement is being made in the development of ecological city. However, building ecological city is an enormous project that calls for a huge amount of capital. The government fund is far from adequate. This paper probes into the fund issue and discusses in detail the mechanism of investment and financing in building ecological city from various aspects such as diversification of the investment subjects and the modes of financing.     

The role of capital deepening in China’s energy transition

ABSTRACT

This paper provides a theoretical model to explain the causality between China’s energy transition and capital deepening found by the empirical study. We prove that in the equilibrium, China’s energy transition is endogenously determined by capital deepening due to the homogeneity of electricity and the monopolistic competition features of China’s electricity market. Price effect, which is the effect of change in relative factor price, will affect energy transition only if the policy intervenes electricity price in terms of the primary sources from which it is generated. We propose that investment can promote energy transition by stimulating capital deepening which is biased to clean energy development. In this regard, our paper provides a new way of thinking for other developing countries to design an effective energy transition policy.     

The Empirical Analysis of the Impacts of Income Distribution Gap on Consumption Demand: Based on the Statistic Data of Chinese Urban Residents in 2000–2010

Abstract

This paper analyzes the impact of income distribution gap on consumption demand from a theoretical view, and draws the conclusion that there is an inverse relationship between income distribution gap and consumption demand. Then, the paper finds that the existing widening income distribution gap in China has a negative impact on consumption demand, but this is not the key factor for the insufficient consumption demand because of the low level of per capital income. At last, it suggests that governments should improve the income level of entire residents and adjust income distribution structure simultaneously.     

On The Research of Foreign and Domestic Human Capital Theory

Abstract

Human Capital Theory came into being in the middle and later periods of the 20th century. A lot of achievements have been made on the research in its connotation, measures of the value, investment and income, function mechanism and so on, by foreign scholars. In recent 10 years of the new Millennium alternation, the “steal business effect” and the structure of human capital on the mechanism of economic rise has become the two emphasis in current foreign Human Capital Theory's research. On the basis of foreign researches and Chinese situations, domestic scholars have enriched and developed it, but there are many disparities in its methods, aspects and levels between foreign and domestic researches.     

全要素生产率框架下的城市资本要素生产率分析

已有的文献基本上都是关注全要素生产率的研究,很少在全要素生产率的框架下识别每一种投入要素对经济增长的贡献和影响。本文在Chang et al 2012年提出的ISP方法的基础上,突破了其模型规模报酬不变的限制,采用投入导向的SBM模型对Luenberger生产率指数进行改进,在全要素生产率的框架下测算资本、劳动力和土地要素的生产率指数,识别每一种投入要素对全要素生产率的贡献和影响。经研究发现,城市全要素生产率变化主要是资本要素生产率驱动的,提升城市全要素生产率的关键是提升资本要素生产率。本文还从经济发展水平、城市规模、产业结构、市场化程度、人力资本积累、政府规模、投资率、财政科技支出、FDI、基础设施建设等多个方面分析了影响城市资本要素生产率的因素。研究结论主要有:11998—2013年间,中国城市全要素生产率累计下降了23.03%,其中资本要素生产率累计下降了60.71%,不同区域、不同层级、不同类型城市的资本要素生产率存在明显的差异;2城市规模、市场化程度、人力资本积累、FDI资本存量和投资率是影响城市资本要素生产率的主要因素,其中,规模较大的城市占据各方面的优势,能够更好地改进资本要素生产率。市场化的推进和人力资本积累有利于资本生产率的改进,符合经济发展的一般规律。FDI资本存量通过技术溢出效应和示范效应等能推进东道国技术进步和生产率提高;3投资率与资本要素生产率负相关,印证了Krugman随着投资率走高会出现资本边际报酬递减以及资本要素生产率下降的问题的观点;4第二产业占比与资本生产率正相关,而第三产业占比与资本生产率负相关,说明当前中国的居民消费结构层次总体上还比较低,强制推进二三产业间的结构升级只能造成供需结构匹配程度更低、愈加损失效率。短期内中国产业结构升级的方向应该为第二产业内部的调整升级。     

Mixed oligopoly,foreign penetration,and environmental taxes

This paper examines the impact of foreign penetration on the public firm in a mixed oligopolistic market. Through the establishment of a mixed double oligopoly market, this paper analyzes how the share of foreign investment affects the environmental policy, the pollutant emission, and the social welfare under the condition of the state tax. The results show that: first, the introduction of foreign investment has some crowding-out effects on the social level of output. Second, the entry of foreign investment increases the profit of the public firm by a large margin, and the maximum profit of the private firm has been reduced. Third, the increase of foreign investment in public firm does not necessarily improve the environment.     

NEWS

Abstract

Co-integration theory has been employed in this paper and Granger causes are found between urbanization rate and GDP, between capital stock and GDP. Scenario analysis of GDP is performed using the GDP model established in the paper. The energy consumptions in Germany, Japan and other developed countries are analyzed and compared with the energy consumption in China. Environmental friendly scenario of energy demand and CO₂ emissions for sustainable China has been formed based on the results of comparison. Under environmental friendly scenario, the primary energy consumption will be 4.31 billion ton coal equivalence (tce) and CO₂ emissions will be 1.854 billion t-c in 2050; energy per capital will be 3.06 tce that is 1.8 times of energy consumed in 2005 in China and 51% of consumed energy per capital in Japan in 2003. In 2050, the energy requirement of unit GDP will be 20% lower than that of Germany in 2003, but will be still 37% higher than that in Japan in 2003. It is certain that to fulfill the environmental friendly Scenario of energy demand and CO₂ emissions is a difficult task and it needs long term efforts of the whole society, not only in production sectors but also in service and household sectors.     

Energy Embodied in Goods in International Trade of China: Calculation and Policy Implications

Abstract

In recent years, China’s energy demand and Greenhouse gas (GHG) emissions have grown very fast, quite an amount of which was exported as energy embodied in goods in international trade rather than consumed domestically. Starting from the concept of embodied energy, based on input-output energy analysis approach, in this paper the energy embodied in goods in international trade of China during the period from 2001 to 2006 is calculated. The results show that although China has become a net importer of petroleum since 1993, China is a net exporter of embodied energy due to international trade in goods. In 2002, the total amount of energy embodied in exported goods was about 410 million tce (ton of coal equivalent, hereinafter referred to as “tce”). Eliminating the amount of energy embodied in imported goods of about 170 million tce, the net export of embodied energy was about 240 million tce, accounting for 16% of the aggregate primary energy consumption of that very year in China, and the net export of embodied emissions was about 150 million tons of carbon. With the rapid growth of China’s international trade, assuming no structural input-output changes of among sectors, in 2006 the net export of embodied energy went up to about 630 million tce, an increase of 162 % over 2002. In addition, this paper also analyzes the possible sources of error in calculation, and also discusses the policy implications according to the result of the calculation.     

Impact of Growing Income Inequality on Sustainable Development in China: A Provincial-level Analysis

Abstract

A growing body of literature has documented the rapidly increasing income disparities that accompanied China's economic growth in the 1980s and 1990s, and the driving factors behind this. Growing income inequality in its turn may have important implications for the accumulation of physical capital, human capital, and natural capital and as a consequence for sustainable economic development. The purpose of this paper is to investigate the potential impact of income inequality on savings, human resources and the environment in China. It starts with an overview of the different causal mechanisms through which income inequality may affect the accumulation of physical capital, human capital, and natural capital, and discusses to what extent these causal relationships may be relevant in the case of China. Next, provincial data for the year 2002 are used to explore the relationship between income inequality and different elements of sustainable development in China. It is found that income inequality does not affect aggregate savings levels. Rising inequality, however, contributes to lower health and possibly also to higher fertility levels. It also lowers the use of chemical fertilizers in agriculture and therefore is likely to reduce water pollution. Other types of environmental degradation are not affected.     

The Impact on Environmental Kuznets Curve by Trade and Foreign Direct Investment in China

Abstract

Based on data of trade, foreign direct investment (FDI), economic development and environmental conditions in China's 30 provinces between 1990–2002, this paper deals with the impact on Environmental Kuznets Curve (EKC) of trade and FDI in China. The results show no direct impact on EKC of trade, on the one hand. However, trade contributes significantly to economic growth, and has played a positive role in introducing advanced pollution prevention technology and environmental management methodology to China. Therefore, a proactive trade policy will help solve the environmental pollution problem brought by economic growth. On the other hand, there is a positive correlation between FDI and pollutant emission, which proves that FDI does have some negative influence on environment in China due to hasty introduction of foreign capital and inadequate environmental management system in China.     

Social determinants of soil and water conservation in rural Kenya

Soil erosion is a major environmental problem and threat to rural development in Kenya. Numerous attempts to address the problem have apparently had little success. There are however some districts that have been very successful, notably Machakos. In this study we search for the factors that determine successful development in soil conservation such as social capital, human capital and market integration. One of our main results is that social capital measures are significant determinants of investment in soil conservation. A better understanding of the relevant mechanisms is essential for developing policies targeting improvement in natural resource management.

基于政府视角的人力资本投资分析

本文首先分析了政府在人力资本投资中的作用，然后从实现政府工作目标的角度探讨了人力资本投资的重要意义，最后提出增加人力资本投资的政策性建议．     

城镇化进程中用水量增长的门槛效应与动态作用机制分析

城镇化是发展中国家21世纪的主要发展趋势,在很大程度上主导着人口、经济和产业结构等各方面的转变,成为拉动用水量增长的关键因素。城镇化进程中城镇居民收入、人口结构、人口密度和人力资本等因素的变化,使得城镇化并非表现为线性发展规律,最终导致用水量也存在相应的门槛效应并呈现阶段性增长特征。本文首先对我国各地区城镇化水平和用水量进行统计分析,从地区层面直观描述我国城镇化水平和用水量的变化特征,然后采用面板门槛模型研究城镇化、城镇居民人均收入、人力资本、城市人口密度和人口年龄结构对于用水量的门槛效应,搜寻在城镇化进程中各人口因素对用水量影响的门槛点并分析阶段性变化特征,最后结合PVAR模型研究城镇化进程中各人口因素对用水量的动态影响和作用机制。门槛回归结果发现:城镇化对用水量的影响具有明显的阶段性特征,分别以城镇化和人均收入为门槛变量,超越门槛点后城镇化对用水量的弹性系数分别呈现先升后降的倒"U"型和先降后升的正"U"型变化趋势;以人力资本为门槛变化量,城镇化对用水量的拉动作用则不断减弱。脉冲响应结果显示:城镇化对用水量具有长期且稳定的正向冲击,而居民收入和人口年龄结构对用水量的正向冲击则逐渐收敛于零,人口密度和人力资本对用水量均具有负向冲击,且人口密度的负效应不断增强,而人力资本的负效应不断减弱。方差分解的结果表明,目前我国用水量的增长受自身的影响较大,除年龄结构外,人口密度、居民收入、人力资本和城镇化也具有小规模的贡献程度。     

Detailed Ecological Footprint Accounting of Liaoning in 2006

Abstract

Ecological footprint (EF) has received considerable attention as a useful indicator in the context of sustainable development. So far, EF has been used in numerous studies by academies, organizations and government authorities. However, the results of these studies failed to be comparable directly with each other due to imprecise data sets, unmodified accounting methods of pasture and fossil energy, ignored secondary products, undefined process of calculating yield factors and improper biocapacity for biodiversity. In this paper, we elaborated on EF estimating methods from six categories of consumption in order to overcome the limitations above. We adopted precise data and revised methods, calculated EF of some secondary products, introduced weighted factor to calculate yield factors and adjusted biocapacity by an appropriate amount. Meanwhile, we investigated the resource consumption of Liaoning Province in 2006 to assess EF. Its results showed that Liaoning Province overused its natural capital and was in an unsustainable state. We concluded that two specific problems that had arisen in EF assessment and gave some suggestions for Liaoning Province to improve its unsustainable state.     

Environmental Capital,Negative Externality and Carbon Finance Innovation

Abstract

In the context of global climate change, the internalization of negative externality, which is brought about by the traditional mode of economic growth, has become an inevitable choice. In order to achieve the internalization, it is necessary to make innovations on the market mechanism and system, find the value of environmental capital, establish a new mode of economic growth based on environmental capital, and then transform the environmental capital, an exogenous factor of economic growth, into an endogenous factor. Of this, the key of market mechanism and system innovation is the financial innovation that is based on environmental capital and negative externality; the government defines the initial property right of environmental resources and establishes environment energy trading market, so as to guide enterprises to trade environmental resources (represented by carbon emission permit trading) based on the Clean Development Mechanism, and to vigorously develop environmental finance and carbon finance.     

人力资本投资软环境研究:基于社会保障制度和劳动力市场分割的视角

社会保障制度和人力资本投资的关系是近年来劳动经济学中新出现的一个课题,相关研究尚不多见。以我国养老保险的“统帐结合”模式为例,分析了社会保障对人力资本投资的影响,同时结合我国劳动力市场现状,对劳动力市场分割状态下“统帐结合”模式与人力资本投资的关系进行了分析。结果表明,增加“统帐结合”模式中个人账户的比例,将激励个人进行较多的人力资本投资,但劳动力市场分割的存在削弱了这种激励作用。因此,建议：适当增加“统帐结合”模式中个人承担的比例;建立覆盖全国的社会保障体系;加快劳动力市场建设。逐步消除劳动力市场分割状态,促进全国统一的、自由竞争的劳动力市场的形成。