Suchergebnisse

AbstractThis paper studies the relationship between firms' excess capacity and their environmental behaviour by matching the environmental data of China's major iron and steel firms with the Chinese Industrial Enterprises database. The findings are as follows. (1) A firm's excess capacity leads to myopic decisions, and firms will pay more attention to short‐run economic benefits at the cost of long‐run environmental benefits, which strengthens their dependence on the polluting path. (2) The dependence is positively correlated with the transformation barriers, and either a higher innovation cost or a higher possibility of regulatory capture in local official governance would lead to greater dependence on the pollution path. (3) Mergers & acquisitions (M&As) may hopefully cut such dependency, but only cross‐provincial M&As led by central state‐owned enterprises (SOEs) can effectively alleviate the "pollution effect" of excess capacity, while intra‐provincial M&As led by local SOEs fail to achieve such a goal.

Tradicionalna hipoteza životnog ciklusa vjeruje da starenje stanovništva ne samo da smanjuje razinu društvene štednje, već negativno utječe i na gospodarski rast. Međutim, čimbenik ljudskih kapitala može promijeniti mehanizam utjecaja na promjene strukture stanovništva. Ova studija pokušava se usredotočiti na specifičan čimbenik poboljšanja zdravih ljudskih kapitala (HHC), endogenim tretmanom stope plodnosti i stope preživljavanja, s obzirom na očekivanu starosnu dob racionalnog pojedinca, kako bi se, de facto, istražio njegov utjecaj na stopu štednje i gospodarski rast uz primjenu panel podataka među-provincija Kine od 1996. do 2012. godine u cilju provjere inherente logičke veze između brzog poboljšanja HHC-a i modela "visokog rasta s visokim uštedama". Rezultati ovog istraživanja su sljedeći: poboljšanje HHC-a važan je čimbenik koji utječe na povećanje stope štednje i gospodarski rast Kine u odgovarajućem razdoblju. To znači da je poboljšanje HHC-a dovoljno da promijeni mehanizam makro-učinaka demografskih promjena, te stoga pruža ključna sredstva za dugoročnu regulaciju i kontrolu koja su izvan okvira natalitetne politike. Među njima značajnu pozornost zaslužuju promicanje javnog upravljanja zaštitom okoliša, poboljšanje sustava socijalne sigurnosti, jačanje individualnih očekivanja u svezi zdravlja i poticanje očekivanog obrasca starenja stanovništva uz postizanje povezanosti s ulaganjima u obrazovni ljudski kapital. ; The traditional life cycle hypothesis believes that the aging of population will not only drag down the level of social savings, but also adversely affect economic growth. However, the human capital factor may change the influence mechanism of population structure change. This study attempts to focus on a specific factor of improving healthy human capital (HHC), through endogenous treatment of fertility rate and survival rate, considering the aging expectation of rational man, to explore its effect de facto on savings rate and economic growth while using the inter-provincial panel data of China from 1996 to 2012 to verify the inherent logical relationship between the rapid improvement of HHC and the "high savings-high growth" model. The findings of this research are as follows: The improvement of HHC is an important factor to improve China's savings rate and economic growth in corresponding period. It means that the improvement of HHC is enough to alter the mechanism of macro-impact of demographic changes, and therefore constitutes a crucial long-term regulation and control means outside the adjustment of birth policy. Among them, promoting public environmental governance, improving the social security system, strengthening individual expectations for health and driving the expected behavior of aging while achieving linkages with investment in educational human capital are worthy of attention.