China Industrial Economics is supervised by Chinese Academy of Social Sciences, and sponsored by Institute of Industrial Economics, Chinese Academy of Social Sciences. It aims to report researches on industrial economics and business management, and to reflect outstanding research results on Chinese industrial economy and enterprise development. The scope covers national economy, industrial economy and business management. The journal is included in CSSCI, and is the top journal in the field of industrial economics in China.
From the perspective of industrial growth, industrial structure and industrial policy, this paper analyzes the achievements of industrial development and industrialization in China during the past 40 years of reform and opening-up, and summarizes the logic and experience of China Programme for industrialization. From the perspective of industrial growth and based on the data and the fact analysis, we argue that China’s basic economic condition has transformed itself from a backward agricultural power into an industrial power, and China’s most basic economic situation is a big and weak industrial power during the past 40 years of reform and opening-up. From the point of view of industrialization, the process of industrialization in China has developed rapidly from the early stage to the later stage of industrialization. China will be basically industrializing by 2020, and will be fully industrialized by 2035. However, it has the problem of unbalanced development and insufficient development in China’s industrial development and industrialization process. In terms of industrial structure evolution and according to the market-oriented reform, the process of industrial development and industrialization in China can be divided into three stages, including exploring the market economy, building a sound market economy, entering the new era of the construction of market economy. Through the analysis of institutional change, factor flow, structural upgrading, technological progress at the respective stages, the motive force of China’s industrial development and industrialization in 40 years is depicted. In terms of industrial policy, China has dealt with the government’s relationship with the market correctly, and so the industrial policy has been successful overall, and in the level of industrial policy operations, tries the efforts to intervene in resource allocation to a certain extent by the government, and also avoids direct involvement in resource allocation in which the general grasp of such degree is relatively reasonable. In all, the central experience of China Programme for industrialization is as follows. First, dealing with the relationship among reform, development and stability properly, and ensuring the continuous growth of the industries and the deepening of the industrialization process. Second, dealing with the relationship between the market and the government properly, and continuously improving industrial efficiency and promoting industry development to high-end. Third, correctly dealing with the relationship between the central government and local governments, and promoting the rational layout of industries and the coordinated development of the regions. Fourth, correctly dealing with the relationship between marketization and industrialization, and fostering a comprehensive and sustainable dynamic mechanism of industrial development. Fifth, correctly dealing with the relationship between globalization and industrialization, and forming a modern industrial system with the character of comprehensive, opening and developing. Sixth, correctly dealing with the relationship between urbanization and industrialization, and promoting the improvement of industrial and population-gathering efficiency and coordinated development of society and people’s livelihood.
The global industrial division system is undergoing a new round of changes and integration against the background of the new-round scientific and technological progress and the industrial revolution. In this process, China’s industrial system which has been embedded in the global economic system has shown many problems. There is an urgent need to reform and adjust it to be a modern industrial system. The so-called modern industrial system refers to a new one which has global leadership, representing the future direction of development and strong competitiveness. It is the core of the modern economic system and the basis of China’s future competitive advantage in the international division of labor. The construction of modern industrial system has a great significance. This paper attempts to analyze deeply and explore the operation logic and the key points behind the current industrial system. We also do a programmatic research on the target mode, system characteristics, system structure and strategic path of establishing the modern industrial system through the consideration of the two key factors that affect the modern industrial system in China. Finally, this paper puts forward the strategic path of how to transform China from the current industrial system to the modern industrial system.
This paper analyzes the impact of
Implementation of Energy Saving and Low-carbon Plan of Ten Thousand Enterprises (hereinafter referred to as the policy of “carbon reduction”) implemented by the Chinese government in 2011 on the export of Chinese manufacturing enterprises. It is found that the implementation of the policy of “carbon reduction” has a cost increasing effect and an innovation promotion effect on the export of Chinese manufacturing enterprises. The actual effect of the policy of “carbon reduction” on the export scale of enterprises depends on the superposition of the two effects, and the superposition effect changes as the intensity of the policy of “carbon reduction” changes. Based on the sample data of Chinese manufacturing enterprises, this paper identifies the casual relationship between the policy of “carbon reduction” and the export scale of Chinese manufacturing enterprises and its mechanism. (1) The relationship between the intensity of the policy of “carbon reduction” and the export scale of Chinese manufacturing enterprises is proved to be inverted U-shaped. The innovation promotion effect is found to be greater than the cost increasing effect under the intensity of moderate policy of “carbon reduction,” which is more favorable to promote the export scale of Chinese manufacturing enterprises. (2) R&D innovation is shown to be the key factor to realize the policy of “carbon reduction” to promote the expansion of the export scale. (3) The innovation promotion effect is illustrated to be gradually released over time，which is manifested in the gradual expansion of the policy area for expanding the export scale. The results turn out to be robust under different samples and empirical methods. This paper concludes that the implementation of appropriate environmental control policies doesn’t undermine the competitiveness of Chinese enterprises, but helps to achieve a “win-win” goal for improving environmental quality and export growth.
In order to improve air quality in China, particularly to reduce haze during the heating season in North China, in 2013 the State Council enacted the Air Pollution Prevention and Control Action Plan (hereafter referred to as the Action Plan), in which 10 prevention and control measures are proposed. This paper uses the unbalanced panel data on air quality in 258 prefecture-level cities for the period from January 1, 2013 to December 31, 2015 to study whether the implementation of the Action Plan could help reduce the contribution of winter heating to air pollution in North China. The regression results show that: ① with regional factors, number of straw burning locations, consumption of other types of energy, various meteorological conditions, holiday factors, various fixed effects and interaction of fixed effects controlled, winter heating has indeed led to significant increase in North China’s Air Quality Index (AQI). ② The implementation of the Action Plan has significantly reduced air pollution in North China during the heating season, but this effect was seen only in winter. This shows that the Action Plan has worked through mechanism related to heating. ③ In order to figure out the specific mechanism of the Action Plan, we introduce the indicator
mgq (which means replacing coal with gas). The results show that the policy of “replacing coal with gas” can significantly improve air quality in North China in the winter. ④ Further, we choose coal for power generation as the proxy variable for clean coal. The analysis shows that increased clean coal consumption will not lead to deterioration of air quality. Thus, if advanced coal-fired boilers are used for centralized heating and the consumption of bulk coals and the number of small coal-fired boilers are reduced, air quality in North China during the heating season will also be significantly improved. This choice fits the reality of China’s resource endowment, namely, being rich in coal and short of oil and gas. And it is conducive to national energy security.
The learning of investors is an important topic that financial scholars pay attention to in recent years， but the learning path of investors is still a black box. For the same information， why do investors differ on the results of information processing? This paper proposes a new way of learning for investors， the learning through role transition. Using trading data analysis based on a domestic typical P2P network platform， this paper finds that investors are learning through role transition. Specifically， investors could improve their investment performance significantly through their borrowing experience. This effects exit when the endogeneity problem is considered. Furthermore， this paper finds that the passive role transition experience could not improve the investment performance， and only the active thinking after role transition could bring the learning effects. From the perspective of investment behavior， investors change their investment style significantly after the role transition， and prefer loans with less credit risk. At present， the investment demand of domestic residents is increasingly strong， but the various investment products in the market are of varying quality. The role transition proposed in this paper is helpful for investors to set up correct information learning channels and improve the welfare of financial investors. At the same time， it also has theoretical innovative significance to traditional information economics and investors learning behavior.
Based on the effect of skill-biased technical change on earning inequality, this paper innovatively combined skill-biased technical change with agglomeration economies, and made a series of empirical studies on the basis of quantifying skill-biased technical change and agglomeration economies by using the micro-data of CHIP in 1988, 1995, 2002 and 2013, to analyze the causes of regional wage gap in China. The main findings are as follows: the regional wage gap increased from 1988 to 2013, and it was mainly reflected in the regional wage gap of skilled labor; and the reason why the regional wage gap exists for a long period of time is mainly due to the comprehensive influence of skill-biased technical change and agglomeration economies, which is manifested as that skill-biased technical change increases the wage inequality by acting on the skilled labor, and agglomeration economies contribute to raising the wage of all labor through the regional migration so as to promote the regional wage gap. Further counterfactual analysis shows that skill-biased technical change is the most important factor. The conclusions of this paper provide some important policy implications for regional governments to reduce regional wage gap and promote balanced development in various regions.
Loyalty discount is one of the most contentious antitrust issues in recent years. Some Fortune 500 companies have received huge antitrust penalties for their use of loyalty discounts, while no consensus has been reached on why and to what extent loyalty discounts could harm market competition in the field of antitrust. Most of studies on loyalty discounts rely heavily on a particular competitive environment, and therefore cannot provide concrete theoretical support for antitrust cases. Based on an analysis of existing antitrust cases, this paper constructed a theoretical model to discuss the competition related issues of loyalty discounts. This model allows the small firms to have capacity constraints and allows for both product heterogeneity and consumer heterogeneity. It points out that under product heterogeneity, the big firms may squeeze out its competitors with loyal discounts, while under consumer heterogeneity, the big firms may either squeeze out competitors or forcibly divide the market with loyalty discounts. It is also pointed out that the welfare impact of loyalty discount is ambiguous theoretically, but it may definitely induce negative impacts on both consumers and social welfare under reasonable assumptions. According to the analysis within this study, the common view point of analogizing loyalty discounts to predatory pricing or exclusive dealing agreement in modern antitrust is debatable.
