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25 December 2020, Volume 0 Issue 6 Previous Issue    Next Issue

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Research on the Influence of Economic Policy Uncertainty on Interest Rate Market Guan Chao, Yu Bo, Li Shiyao 2020, (6):  5-10.  doi: 10.16716/j.cnki.65-1030/f.2020.06.001 Abstract ( )   PDF (1762KB) ( )   Save By selecting the proxy variables of economic policy uncertainty and main interest rates of interbank market and bond market from 2002 to 2019, this paper uses MS-VAR model to explore the dynamic impact mechanism of economic policy uncertainty on interest rate markets. We've drawn the following conclusions. Firstly,economic policy uncertainty is"inevitable"and will have a negative impact on businesses, residents and financial markets. Secondly, when economic policy uncertainty appears or increases, the main interest rates in the interbank market and bond market generally decline. Interest rates with longer maturities fall more sharply, and the negative feedback effect of interest rates during the financial crisis is more obvious. Thirdly, the uncertainty of economic policies leads to the rise and then fall of the interest rates on treasury bonds and corporate bonds with shorter maturities. And when economic development is stable and policy expectations are clear, negative shocks are easily absorbed by market themselves. This study focuses on the economic policy uncertainty and interest rate markets, and provides important references for policy authorities, investors and other market entities. References | Related Articles | Metrics

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Can Internet Use Improve Income Distribution? — An Empirical Analysis Based on Chinese Household Tracking Survey Data Shan Depeng, Zhang Yong qi, Ma Meng di 2020, (6):  15-24.  doi: 10.16716/j.cnki.65-1030/f.2020.06.002 Abstract ( )   PDF (1670KB) ( )   Save Income inequality is a major manifestation of China's unbalanced economic development.Based on the 2014 China Household Tracking Survey (CFPS) data, this paper empirically analyzes the relationship between Internet use and income distribution, and finds that Internet use has a significant blocking effect on the expansion of income gap of Chinese residents.Considering the endogenous problems caused by reverse causality,this paper uses the Internet use behavior and attitude distance and community Internet use as instrumental variables, indicating that the verification conclusion is reliable. In addition, the heterogeneity analysis shows that this effect is more significant in the low-level education, middle age and rural low-income groups. The mechanism analysis shows that the importance attached to the way of Internet use is an important transmission mechanism for the impact of Internet use on income distribution. Therefore, improving information infrastructure construction in poor areas, continuing to implement the relevant policies "Internet + rural areas" and promoting Internet use are important means to narrow the income gap between residents. References | Related Articles | Metrics

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On Perfection of Incentive and Restraint Mechanism of Tax Collection and Management in China—An Analysis from the Perspective of Dynamic Game Deng Xiaolan, Wang Jing 2020, (6):  25-34.  doi: 10.16716/j.cnki.65-1030/f.2020.06.003 Abstract ( )   PDF (1504KB) ( )   Save To ensure the full collection of national tax is the main purpose of tax collection and management in any period. In particular, tax reduction and fee reduction lead to large-scale revenue reduction, which highlights the urgency of strengthening tax collection and management to ensure full revenue collection. Tax Collection and management focuses on system construction, especially on the improvement of the incentive and restraint mechanism. By constructing a dynamic game model of principal-agent with three subjects and two stages of complete but imperfect information, this paper analyzes the characteristics and mechanism of China's current incentive and restraint mechanism, and clarifies the theoretical roots of the phenomena such as slack work of tax officials, non-compliance of tax payers and collusion between tax payers and tax collectors in reality. On the basis of the introduction of tax of tax officials rewards and punishments variables and the modification of the original model, the paper finds incentives and constraints for tax officials to collect tax and enforce the law strictly based on the complete dynamic game analysis, and proposes such countermeasures as improving punishment regulations for taxpayers, enacting punishment regulations for tax officials, and designing an incentive system for tax collection and management to provide reference for perfecting the incentive and restraint mechanism of tax collection and management in china. References | Related Articles | Metrics

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Manager Ability and Corporate Performance：Based on Enterprise Life Cycle Yao Xi,Yang Chao,Yao Mengge 2020, (6):  35-47.  doi: 10.16716/j.cnki.65-1030/f.2020.06.004 Abstract ( )   PDF (1033KB) ( )   Save This paper takes all mainland China non-financial A-share listed companies from 2010 to 2017 as samples to study the relationship between manager ability and corporate performance.The study found that the manager ability is significantly positively correlated with market performance and financial performance of the company in general. Different stages of enterprise life cycle have a significant impact on the relationship between managers ability and corporate performance, that is, compared with the growth period, the maturity period and the decline period weaken the positive promotion effect of manager ability on corporate performance. When the ownership concentration of a company is high and government intervention is low, the positive promotion effect of manager ability on corporate performance is strong, namely, the performance of manager ability is subject to the level of internal and external governance of the company. References | Related Articles | Metrics

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On the Cooperative Security Model of the Silk Road Economic Belt Zhang Hongtao 2020, (6):  48-58.  doi: 10.16716/j.cnki.65-1030/f.2020.06.005 Abstract ( )   PDF (1004KB) ( )   Save There are some systematic security risks in the Silk Road Economic Belt, so it is of great necessity to explore, establish and evaluate a more efficient and applicable regional security model. The traditional security model represented by collective security has been unable to meet the great demand of the Silk Road Economic Belt for security and development. The construction method based on "cooperation" has become the mainstream path of its security mechanism construction. It is the "optimized" regional security model of the Silk Road Economic Belt to adhere to the principle of active willingness to cooperate, based on the common cultural identity of the region, guaranteed by the increasingly mature cooperation mechanism, and aimed at the common pursuit of security interests. The analytic hierarchy process (AHP) is applied to the quantitative analysis of the safety mode of the Silk Road Economic Belt. Through mathematical calculation and quantitative evaluation, the regional applicability and promotion value of the cooperative safety mode are further tested. It is found that it has strong objectivity and maneuverability, which can be regarded as an ideal safety model. References | Related Articles | Metrics

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Interstate Distribution and Production Efficiency of Agricultural Resources in Kazakhstan Gao Guixian, Guo Lingxia 2020, (6):  59-69.  doi: 10.16716/j.cnki.65-1030/f.2020.06.006 Abstract ( )   PDF (3523KB) ( )   Save Kazakhstan has a vast territory and abundant agricultural resources, however, the distribution among the states is extremely uneven. This paper analyzes the interstate distribution of agricultural resources in Kazakhstan, and uses the DEA model to calculate the production efficiency of agricultural resource inputs in Kazakhstan's states (cities) from 2014 to 2018. The following conclusions are obtained: The uneven distribution of agricultural resources in Kazakhstan has formed distinctly different production areas and non-main production areas; the comprehensive production efficiency of agricultural resources in Kazakhstan experienced a trend of first increasing and then decreasing; From the perspective of the production efficiency of agricultural production input elements in non-DEA effective states, the use of sunlight is the highest. In addition, other resource inputs need to be adjusted at a higher proportion; the average annual growth of agricultural total factor productivity was 8.3%, mainly due to technological progress. Kazakhstan needs to strengthen agricultural technology cooperation with China. References | Related Articles | Metrics

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Fractal Study of Xinjiang Logistics Center System from the Perspective of Silk Road Economic Belt Song Mingzhen, Zhang Shengyi, Xie Jiaping, Huang Yali 2020, (6):  70-78.  doi: 10.16716/j.cnki.65-1030/f.2020.06.007 Abstract ( )   PDF (1722KB) ( )   Save The sound and rapid development of logistics industry in Xinjiang is the key content supporting the construction of the Core Area of the Silk Road Economic Belt. This paper uses fractal theory and selects Xinjiang logistics center system as the research object, to conduct an empirical research from three aspects: spatial order-scale, spatial correlation, and spatial agglomeration. The results of the research shows that firstly, the order structure of Xinjiang logistics center system is uneven, among which Urumqi has a higher Primacy. Secondly, the spatial distribution of Xinjiang logistics center is even, but its architecture lacks hierarchy. Thirdly, the agglomeration structure of Xinjiang logistics center system is concentrated, however, the structure is unstable. Based on the reality of Xinjiang, this paper puts forward such suggestions as making full use of the advantages of land ports, improving transportation facilities, and vigorously cultivating local logistics enterprises. References | Related Articles | Metrics