China’  s Macro-control in the Post-crisis Period
（Group of China’  s Economic Growth and Macroeconomic Stability， CASS）

Abstract: In an international, provincial and dynamic perspective, this study attempts to synthesize the experience of China’  s macroeconomic control, and provide outlook for its future path in the post crisis period. Specifically, the paper begins an econometric investigation on the international evidence for the output fluctuations and stabilization policies between developed and developing countries, in order to show the stabilization policies with Chinese characteristics. The paper further presents ‘Chinese experience’  of structural macro control by the provincial analysis and its challenge to the mainstream economics, as well as the overlap between them. Finally, looking forward to the future, the paper provides the new thinking of macro control in post crisis period: (1) adhering to the direction of macroeconomic control: speeding up the economic restructuring and focusing on supply side management; (2) changing the main objective of macroeconomic control: from industrialization to urbanization; (3) perfecting the infrastructure of macroeconomic control: promoting the market-oriented reform and mitigating the government-driven effects; (4) broaden the vision of macroeconomic control: paying more attention China’   s impacts on the world development and reinforcing international policy coordination.
Key Words:Post-crisis Period; Reflections of Mainstream Economics; Structural Macro-control
JEL Classification:E20， E60

Green Industrial Revolution in China:
A Perspective from the Change of Environmental Total Factor Productivity

Chen Shiyi
（Fudan University）

Abstract:This paper employs directional distance function to estimate environmental total factor productivity and its decomposition in Chinese industry between 1980 and 2008. The results reveal that the restriction of energy and emission hinders the improvement of productvitity and then calls for the implementation of strict but appropriate environmental policies. What the most important finding is that the environmental regulations implemented in China since the reform did substantially improve the real industrial productivity，especially between 1996 and 2002. We refer to this as green industrial revolution， necessary for productivity promotion，transformation of growth mode and Chinese industrialization.