Abstrat:This article analyzes the internal and external imbalances of Chinas economy from a global perspective.The author believes that trade surplus and saving surplus are not the absolute metrics to define a countrys economic strength.Chinas balance of payments has continued to maintain a big surplus,which shows Chinas unique economic structure and growth model and exposes deep contradictions in income distribution,factor prices and resource allocation.While stimulating rapid growth,the imbalances of Chinas economy at the same time has also long delayed upgrading of industrial structure,aggravated threat of inflation and asset bubble.Although the external and internal imbalances are closely linked to each other,they are quite different in nature.The similar global economic imbalances have existed for a long time,and to a great extent,it is inevitable and rational.However,the internal imbalance which is caused by its own systems and policies would have severe and negative impact on Chinas economy and even the global economy if it lasted.

Abstrat:The paper aims to understand,by studying on cooperatives function,how shall the social function building contribute to the socialist market economy.The socialist market economic system needs to address the relationship between a market economy and a social balance.A balanced society is inevitably a society of functions complement each other by the government sector,the business sector and the social sector.Today Chinas society lacks in social sector function seriously.Cooperatives are the self-help economic organizations united voluntary by their members to meet their common needs.As members jointly-owned and democratically-controlled enterprises,cooperatives are enterprises with social function,they have the functions of both business sector and social sector.Cooperatives are the forces of the counter monopolies of bargaining power in transactions.They shall empower farmers,consumers and other weak groups to have bargaining power especially in contemporary China,and they could play an essential role in job creation and community development.

Abstrat:Using two rounds of micro survey data collected in Chinas big cities,this paper evaluates the urban poverty reduction system and its efficiency.The analysis indicates that the means to poverty reduction has a significant shift during the urban economic restructuring.In contrast to similar programs in other economies,urban poverty reduction system cored by Dibao program is relatively efficient.The paper also analyzes the response of individualshouseholdsto poverty reduction system,and the empirical result shows that improvement on the ways to poverty reduction will be helpful to avoid the negative effects on labor market behaviors.

Abstrat:Chinas Social Universal Service System should include Cultural Universal Service and Industrial Universal Service.Our analysis indicates that GDP gap of different areas has shown expanding trend since Open-up and Reform Policy put in practice.Human development gaps are narrowed gradually during 1990 to 2003.This indicates Cultural Universal Service of China play an important function on the reduction of regional development gap.Education has large contribution to human development.Compared with education,public sanitation and social security are weak parts of Social Universal Service.The government should shoulder the basic responsibility for the provision of Cultural Universal Service in China.

Abstrat:It is demonstrated that equalization of the income distribution will increase aggregate consumption if there is an inverse "U" relationship between marginal propensity to consume and disposable income.This study has shown that such a relationship does exist in China at present with the middle class having a higher marginal propensity to consume than that of the lower and the highest.Therefore,equalizing the income distribution will give rise to the increase of aggregate consumption,which means that now it is not only a social but also an economic problem that matters efficiency as well as equity.Furthermore,a comparison analysis between 1995 and 2002 indicates that expenditure on education and medical treatment has had a more and more sound influence on consumer behavior.Their high input makes the poor still in a plight of them,while the middle class have to reduce their other consumption relatively because they have to allocate a large part of their income to education and medical treatment.This shows that further improvements of Chinas reform in education and medical are needed.

Abstrat:Most scholars substitute education and training for human capital to reach the aggregation of human capital.But it doesnt accord with the progress on the relative theory,nor accord with our reality.New Institutional Economics and Theory of Market Transition research the effect of institution on accumulation of human capital.And our reality also show this effect.Therefore this article analyzed the effect of institutional transition on the accumulation of human capital in China.

Abstrat:Regarding the medical costs and the treatment effect as a kind of random output for the first time,this thesis sets up a model of transaction contract between doctors and patients based on principal-agent theory.The model enlightens us that the integration of hospitals and the medical insurance corporation to establish insurance and mutual aid Medical Corporation Limited can solve the moral hazard of the doctors to a large extent because the medical insurance integration is equal to a fixed treatment fee paid to the doctors in advance,which can internalize the medical costs and as long as the compensation regulations are established appropriately according to the effect of the treatment,the doctor will have initiative to reduce the cost of the medicine and to improve the curing effect at the same time.From the perspective of the whole society,the mutual aid medical Insurance Corporation Limited means to subsidize the patients with the insurance fee of the healthy people and to subsidize the people losing the capability to work with the insurance fee of those people with capacity to work.This model deserves consideration for our medical system reform,as it is a Pareto Improvement of the present medical system of "hospital" or "Insurance Corporation and hospital".

Abstrat:Based on the condition of SOE liability and foreign companies liability,we found that bank provided more capital to SOE than to foreign companies,and the credit term was longer.We also found that discrimination between different ownership companies was reduced with the decrease of government intervention and improvement of marketization.

Abstrat:Using dynamic panel data model and the data of FDI amount into China during 1992—2004 from the major countries or regions,this paper analyzes the motive of the FDI.Primarily,in the sample session,the FDI from the tax havens appeared to have the features of horizontal FDI,while the FDI from other regions appeared to have the features of vertical FDI.As a whole,the vertical FDI played the major role in the FDI into manufacturing sector.Since 2004,the structure of FDI into China has significantly changed.Based on the analysis,we make some policy suggestions.

Abstrat:Based on the panel data of all 22 categories of exports under HS Classification,this paper reclassifies these exports according to their industry attributes,calculates the exchange rate pass-through to the aggregate export price and specific industries export prices,and then discusses the exporters capability of pricing to market from Jan 2001 to Aug 2007.The conclusion is that,attributed to differences in the comparative advantages,processing trades,market structures and the degree of competition in the world market,exchange rate pass-through has different effects in different industries,and exporters located in various industries show distinct capability of pricing to market:labor-intensive industries which have the traditional comparative advantages exhibit super-strong capability of pricing to market,where exporters can lower the export prices in domestic currency when facing the RMB appreciation.Characteristic of processing trades,some high-tech manufactures have the phenomenon of incompleteness of exchange rate pass-through effect.

Abstrat:This paper selects 39 close-end funds and 67 open-end funds as samples which have been established before June 30 th,2004.We choose the weekly ration of return as the index.According to the data from January 1 st,2005 to December 31 th,2006,we examine the relations between the risk and return of the portfolio and the number of funds involved in portfolio.Then,we study the problem of optimum number of funds from only considering the factor of risk and from comprehensive consideration of risks and returns respectively.We also comparatively examine which one is better between the portfolio which have different investment style funds and those which is chosen randomly in equal.At last,we use data to examine three different optimum number models:Evans and Archers,Latane and Youngs and Markowitzs.

Abstrat:Based on an analyzing of international and domestic oil prices formation mechanism,several new econometric methods are applying to the volatilities in oil prices and their relationship.The empirical results show that the oil price volatilities show clustering,continuance and risk "spillover effects",and the international oil price volatility has absolutely leading effect to the domestic market;long-term cointegration between the two markets is prominent,but they have different short-term volatility processes.

Abstrat:Character of human behavior is the focus of both game theory and modern economics,and they mainly research strategic behaviors and individual rational behaviors respectively.From perspective of interaction,it is briefly introduced in this paper that there are some new theoretic views with advanced game theory and contemporary economics,such as thought source of game theory,nature of multi-game-equilibrium,foundational types of economic behaviors,and behavior-oriented of economics.It is foreseeable that interaction will drive the development of both game theory and contemporary economics.