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1 * Sys t em- GMM 1985~2007 GMM 30 ( ( (1 Barry R. Weingast (Federalism M (Market-Preserving Federalism (Fiscal DecentralizationChinese Style 2 Chung Lam (2004 (Oi1995;Walder1995;Peng Yusheng2001 * 2008 (08YYB

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8 1 I PS Onestep- SYS-GMM (GMM 輥輵訛 : Im-Pesaran-Shin 3 Arellano-Bond IPS (Im Pesaran and Shin 2003 Hansen 1 GMM IV I Difference-in-Hansen 1985~2007 Arellano-Bond GMM 1985 (CPI ( : A ; B 1985 B GMM Arellano-Bond AR(1 AR( GMM :(1 (1 DIF-GMM SYS-GMM A MFI 2 (2003 China Vitae ;(2 B Hansen GMM IV Differ

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10 輥輶訛 Li Lixing(2008 ( ( 2005; 2006 Onestep-SYS-GMM ( 2007 ( race to the bottom ( (pebr ( 2007 (MFI (pgap MFI ; pebr MFI pgap MFI

11 Montinola ( MFI 1 MFI 2 2 (Fiscal DecentralizationChinese Style (Market-Preserving Federalism 輥輯訛 MFI 1 MFI 2 3 輥輰訛 Nolan(1995 GDP GDP ;Blanchard Shleifer(2001 輥輱訛 (Wooldridge2003 輥輲訛 Imbs Wacziarg(2003 GDP 4 輥輳訛 : 10 3 : ; 8 ; ( 10 ; ; 輥輴訛 Kelejian Prucha (1999 Bell Bockstael (2000 (GMM GMM 輥輵訛 GMM GMM 輥輶訛 5 Li Lixing ( % 6 (1 : :1952~ (3 : : (4 : : (5 : : (6 : (7 : : (CPI (RPI (8 : : (9 : : ( (10 : (2004 P t p it MFI 1 MFI 2 (2 : : (11 : (12 : MFI 1 MFI

12 (13Arellano M. and S. Bond 1991 Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations Review of Economic Studies58 pp.277~297. (14ArellanoM. and O. Bover 1995 Another Look at the Instrumental Variable Estimation of Error-components Models Journal of Econometrics68 pp.29~51. (15Bai Chong-En Tao Zhigang and Tong Yueting Sarah 2008 Bureaucratic Integration and Regional Specialization in China China Economic Review19 pp.308~319. (16Blanchard O. and Shleifer A Federalism With and Without Political Centralization: China Versus Russia IMF Staff Papers Vol.48 Special Issue. (17Blundell R. and S. Bond 1998 Initial Conditions and Moment Restrictions in Dynamic Panel Data Models Journal of Econometrics87 pp.115~143. (18Bond Stephen Anke Hoeffler and Jonathan Temple 2001 GMM Estimation of Empirical Growth Models CEPR Discussion Paper No (19Cai Hongbin and Daniel Treisman 2004 State Corroding Federalism Journal of Public Economics 88 (3-4 pp. 819~843. (20Cai Hongbin and Daniel Treisman 2006 Did Government Decentralization Cause China's Economic Miracle? World Politics 58(4 pp.505~535. (21Chen K The Chinese Economy in Transition Singapore:Singapore University Press. (22Chung Jae Ho and Tao-chiu Lam 2004 China's City System in Flux: Explaining Post-Mao Administrative Changes China Quarterly180 pp.945~964. (23FanC. S. and Wei X The Law of One Price: Evidence from the Transitional Economy of China Review of E- conomics and Statistics88 pp.682~697. (24He Canfei 2006 Regional Decentralization and Location of Foreign Direct Investment in China Post-Communist E- conomies18(1 pp.33~50. (25Huang Y. S Inflation Investment Controls in China Cambridge University Press. (26Huang Y. S Managing Chinese Bureaucrats: An Institutional Economics Perspective Political Studies50 pp.61~ 79. (27Im K. S. M. H. Pesaran and Y. Shin 2003 Testing for Unit Roots in Heterogeneous Panels Journal of Econometrics115 pp.53~74. (28Imbs J. and Wacziarg R Stages of Diversification American Economic Review93(1 pp.63~86. (29Kalemli-Ozcan S. Sorensen B. and Yosha O Risk Sharing and Industrial Specialization: Regional and International Evidence American Economic Review93 pp.903~918. (30Lampton D. M A Plum for a Peach: Bargaining Interest and Bureaucratic Politics in China S in K. Lieberthal and D. Lampton Bureaucracy Politics and Decision Making in Post-Mao China Berkeley: University of California Press. (31Li Hongbin and Li-An Zhou 2005 Political Turnover and Economic Performance: The Incentive Role of Personal Control in China Journal of Public Economics89(9-10 pp.1743~ (32Li Lixing 2008 The Incentive Role of Creating Cities in China MPRA Paper (33Li S. T. Liu Y. Z. and Chen B Survey and Analysis of China's Domestic Local Protectionism: A Study Based on a Questionnaire Survey of Enterprises China Journal of Economics1 pp.117~192. (34Mei Ciqi 2007 Rules of Political Game: Cadre E- valuation and Appointment System in China ManuscriptDepartment of Government and Politics University of Maryland. (35Montinola Gabriella Yingyi Qian and Barry R. Weingast 1995 Federalism Chinese Style: The Political Basis for E- conomic Success in China World Politics48(1 pp.50~81. (36Naughton B How Much Can Regional Integration Do to Unify China s Markets? Paper Presented for the Conference for Research on Economic Development and Policy Research Stanford University. (37Nee Victor 1992 Organizational Dynamics of Market Transition: Hybrid Forms Property Rights and Mixed Economy in China Administrative Science Quarterly37 pp.1~27. (38Nolan P China's Rise Russia s Fall: Politics Economics and Planning in the Transition from Stalinism New York: St.Martin s Press. (39Park Albert Scott Rozelle Christine P. W. Wong and Changqing Ren 1996 Distributional Consequences of Reforming Local Public Finance in China China Quarterly147 pp. 751~778. (40Peng Yusheng 2001 Chinese Townships and Villages as Industrial Corporations: Ownership Governance and Productivity American Journal of Sociology106 pp.1338~1370. (41Poncet Sandra 2003 Measuring Chinese Domestic and International Integration China Economic Review14(1 pp. 1~23. (42Oi J. C The Role of the Local State in China's Transitional Economy China Quarterly144 pp.1132~1149. (43Shirk Susan L The Political Logic of Economic Reform in China Berkeley:University of California Press. (44Singh Nirvikar 2007 Fiscal Decentralization in China and India: Competitive Cooperative or Market Preserving Federalism? MPRA Paper (45Susan H. Whiting 2006 Growth Governance and Institutions: The Internal Institutions of the Party-State in China Produced for the World Bank Research Project on the Rise of China and India (Governance Revised draft July 28. (46Tsui Kai-Yuen and Wang Youqiang 2008 Decentralization with Political Trump: Vertical Control Local Accountability and Regional Disparities in China China Economic Review 19 pp.18~31. (47Walder Andre 1995 Local Governments as Industrial Firms: An Organizational Analysis of China s Transitional Economy American Journal of Sociology101(2 pp.263~301. (48Windmeijer F A Finite Sample Correction for the Variance of Linear Efficient Two -step GMM Estimators Journal of Econometrics126 pp.25~51. (49Wooldridge Jeffrey M Introductory Econometrics: A Modern Approach Mason Ohio Second Edition. (50Young Alwyn 2000 The Razor s Edge: Distortions and Incremental Reform in the People s Republic of China Quarterly Journal of Economics115 pp.1091~

13 by Tan Jinsong Eileen Fischer Ron Mitchell and Pan Qingcai BRIFE COMMENTARIES The Ino-Katou Controversy and the Concept of Formal Organization in Barnard s Theory by Zhou Weizhong and Lin Song Goverment Behavior in Delisting Rules' Supplying and Changing by Ni Xin Strategies of Open Finance Playing a Part in Railway Construction by Jiang Dongsheng An Analysis Based on the Framework of Forest Resources the Supply of Labor Force and the Restriction of Environment of the Combination of Agriculture and Tourism by Ren Yulong Yin Xinzhe and Yang Hong A Probe into the Design of the Monitoring Standard of the Brand of Industrial Clusters by Wu Chuanqing Study of influence of human resource management practices in different periods of advanced manufacturing technology implementation by Chen Tongyang and Cao Guonian Empirical Analysis of the Stability of Supply China Alliances by Cheng Yao A Study on the Rational Framework of the Process of Upgrading Enterprises Financial Order by Liu Qi On the Boundary of Enterprises Capability and the Strategy of Outsourcing by Yu Kexin and Zhang Wen On the Application of the Method of TQM in the Management of the Quality of Teaching by Cao Yisun ABSTRACTS IN ENGLISH Is it Fiscal Federalism or Agency by Agreement? a Judgment Based on Experiences about the Nature of the China-type fiscal Decentralization by Wang Shoukun and Ren Baoping Based on the analysis of whether the political centralization should be channeled into the related theory the framework of the existing literature on the fiscal decentralization can be grouped into two antagonistic kinds: the fiscally federalist framework which gives weight to decentralization and the framework of agency by agreement which stresses centralization. By the understanding of the innovativeness in the extra-budgetary revenue of local governments we have put forward a workable proposition establishing a statistical foundation for reasonably judging the essence of China s fiscal decentralization. On the basis of this proposition we have used the method of System-GMM to make a regression of the model of the provincial dynamic panel data of 1998 to 2007 and the results indicate that the nature of the relationship between China s central government and local governments approaches the nature of the theoretical framework of the fiscally federalist framework. The connotation of this conclusio lies in the fact that compared with getting the incentive right that has been realized getting the coordination right should all the more be done by the central government at present and that the central government should remove and terminate the vested interests that each province in China has obtained under the system of fiscal decentralization and really play the role of adjusting and balancing the overall situation of the economic growth. Entrepreneurial Institutional Competencies in the Transition Economy:Empirical Research on China's Entrepreneurs and Its Implications Xiang Guopeng LI Wujie and Xiao Jian-zhong This paper put forward a new concept of entrepreneurial institutional competencies to analyze China's entrepreneurs' behaviour of institutional innovation in the contextulization of transitional economy from the perspective of entrepeneurial competencies. Entrepreneurial institutional competencies is to facilitate firm growth by institutional innovation and breaking through constraints of external institutions and (or internal institutions during the course of venture which is the intergration of theories of institution and entrepreneurial competencies. Based on -187-

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