Aggregate behaviour of investment in China, 1953-96 : an analysis of investment hunger and fluctuation /
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| Main Author: | |
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| Format: | Book |
| Language: | English |
| Published: |
Houndmills, Basingstoke, Hampshire ; New York :
Palgrave, in association with Institute of Social Studies,
2001.
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| Subjects: | |
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| 008 | 011005s2001 enka b 001|0 eng | ||
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| 040 | |a DLC |c DLC | ||
| 042 | |a pcc | ||
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| 050 | 0 | 0 | |a HG5782 |b .S87 2001 |
| 082 | 0 | 0 | |a 332.6/0951 |2 21 |
| 100 | 1 | |a Sun, Laixiang, |d 1957- | |
| 245 | 1 | 0 | |a Aggregate behaviour of investment in China, 1953-96 : |b an analysis of investment hunger and fluctuation / |c Laixiang Sun. |
| 260 | |a Houndmills, Basingstoke, Hampshire ; |a New York : |b Palgrave, in association with Institute of Social Studies, |c 2001. | ||
| 300 | |a xiii, 290 p. : |b ill. ; |c 23 cm. | ||
| 504 | |a Includes bibliographical references (p. 260-281) and index. | ||
| 505 | 8 | |a Machine generated contents note: 1 Introduction -- i. Key Questions -- 1.2 Growth Cycle Model -- 1.3 Background -- 1.4 Cycles or Fluctuation? -- 1.5 Methodological Issues -- 1.6 Scope and Notes on the Database -- 1.7 Organization of this Book -- 2 Integrating Selected Theories Based on China's -- Experiences -- 2.1 Introduction -- 2.2 Incorporating the Investment Cycle Theory of the 'Hungarian -- School' with China's Experiences -- 2.2.1 Soft budget constraint, expansion drive and investment -- hunger -- 2.2.2 Bauer's four-phase theory and China's investment cycles -- 2.2.3 Single control equation model and the relevant problems -- 2.3 Kaleckian Economic Growth Theory and China's Capital -- Accumulation Mechanism -- 2.3.1 The causality line: From growtf rate to investment to -- saving to bottleneck constraints -- 2.3.2 Generalizing the Kaleckian labour constraint equation -- e: ; eto a key factor constraint equation -- 2.3.3 China's capital accumulation mechanism and Kaleckian -- | |
| 505 | 8 | |a agricultural-determining growt theory -- 2.3.4 Equilibrium growth path and fluctuations -- 2.4 Existing Researches on China's Investment Cycles -- 2.4.1 The efforts to link investment cycles to agricultural -- fluctuations -- 2.4.2 Reform cycle theory and the persistence of substitution -- between growth and bottleneck -- 2.5 Insights from Wester Business Cycle Theories -- 2.6 Summary: The Implications for Modelling Investment Cycles -- in China -- 3 The State Investment System and its Response to -- Reform -- 3.1 Introduction -- 3.2 A Historical Overview of the State Investment System -- 3.3 The Project Approval System and Project Approval Norms -- 3.3.1 The project approval system: Formal procedure versus -- real practice -- 3.3.2 Project approval norms and locality's evasion by collusion -- 3.4 Credit Plan and Government Control over Financial Resources -- 3.4.1 Investment plan, credit plan and mandatory loans -- 3.4.2 Central government investment hunger and key state -- | |
| 505 | 8 | |a projects -- 3.4.3 Lending outside the credit plan -- 3.4.4 Adjustments of nominal interest rates and patterns of -- real interest rates -- 3.4.5 Recurring cycle of inflation and retrenchment during -- the reform period -- 3.5 The Material Supply System -- 3.5.1 Material supply system: Function and characteristics -- 3.5.2 Declining importance and its special focus since reform -- 3.6 Soft Budget Constraint and Investment Hunger in State-owned -- Enterprises .: -- 3.7 The Development Drive and Investment Hunger of Local -- Governments -- 3.8 Summary: Insatiable Investment Demand Exists at All Levels -- 4 Agricultural Constraint to the Insatiable Investment -- Demand -- 4.1 Introduction -- 4.2 Contribution of the Agriculture to the National Economy -- 4.3 The Change of Factor Proportions in China's Agriculture -- 4.4 The Specific Institutional Setting to Help Minimize -- Agricultural Fluctuation -- 4.5 Selection of Indicator System -- | |
| 505 | 8 | |a 4.6 Agricultural Fluctuations and Macroeconomic Adjustment: -- Empirical Evidence -- 4.7 Agricultural Fluctuations and Macroeconomic Adjustment: -- Stylized Facts -- 4.8 Summary -- Data Appendix -- 5 Energy as the Representative of Producer Goods -- Constraints -- 5.1 Introduction -- 5.2 Energy Situation in China: An Overview -- 5.3 Widespread and Chronic Shortage of Energy in China -- 5,4 Transport Bottleneck and Effective Energy Supply -- 5.5 Energy Constraint to Investment Demand: Some Primary -- Econometric Evidence -- 5.6 Summary -- 6 Estimating Investment Functions Based on -- Cointegration -- 6.1 Introduction -- 6.2 Unit Roots, Equilibrium Relationship and Error Correction -- Mechanism -- 6.3 Modelling Strategy and Steps: A General Framework -- 6.4 Estimate of Cointegration and Investment Level Equation -- 6.5 Estimate of Conditional Investment Growth Rate Equation -- 6.6 Theoretical and Empirical Implications: A Summary -- Appendices -- Al Data -- | |
| 505 | 8 | |a A2 Cointegration analysis of the vector system -- A3 Exogeneity -- 7 Conclusions -- 7.1 Introduction --, I f:1 -- 7.2 Major Theoretical Contributions of the Research -- 7.3 Aggregate Investment Behaviour in China: Stylized Facts -- 7.3.1 System-generated insatiable investment demand exists -- at all levels -- 7.3.2 Supply and distributive barriers to investment expansion -- and retrenchment campaigns -- 7.4 Inefficiency as a Consequence of Investment Hunger and -- Bureaucratic Coordination -- 7.5 The Difficulties and Possible Selections of Reforming the State -- Investment System -- 7.6 Limitations of the Research -- 7.7 Summary -- Notes -- Bibliography -- Index. | |
| 650 | 0 | |a Investments |z China. | |
| 650 | 0 | |a Kaleckian Model of Growth and Distribution. | |
| 988 | |a 20020608 | ||
| 906 | |0 DLC | ||