2008 2,,,,, ( Kornai,1986 ; Kornai t al,2003),,,shlifr Vishny,,, (1994,1997,1999, 2001,2003),, :,,,, (Lin and Tan,1999 ;, 1997) ;, (,2004),,,,,,,,,, D

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1 : 3 :,,,,,,,,,,,, : Kornai (1979,1980,1986),,, Kornai,, Kornai,, Dwatripont Maskin (1995), : (tim inconsistnt problm),,,, (2002),Dwatripont Maskin (1995) ( Policy burdn) 1986,Kornai ( ) ( Kornai,1986) 1994,Shlifr Vishny Nash,,,, 3,, :100871, pku. du. cn ; du. cn,,,, 44

2 2008 2,,,,, ( Kornai,1986 ; Kornai t al,2003),,,shlifr Vishny,,, (1994,1997,1999, 2001,2003),, :,,,, (Lin and Tan,1999 ;, 1997) ;, (,2004),,,,,,,,,, Dwatripont Maskin,,, Shlifr Vishny (1994),, Shlifr Vishny(1994),,,,,,,,,,, Shlifr Vishny(1994),,,,,,,,,,,, () :, ;,,, 45

3 : () (Dwatripont Maskin,1995), (2002) 1,,,, p (0 < p < 1),1 - p,, R g ( R g > 1), 1 Dwatripont Maskin (),,,, 1 :,, 1 L ;,,R p,b p R p < R g, 1, :B p >,,,,, ; R p - 1 > L,,, R p, 1 L,, R p - 1 > L,,,p > 2 - R p R g - R p + 1,,,,,,,,,,, Dwatripont Maskin (1995),,( R p < R g ),,,, : (2002) R p - 1 > L,, 2 - R p,pr g + (1 - p) ( p R p - 1) 1,p > R g - R p + 1, 1 B p >,, Dwatripont Maskin(1995), (2002) 46

4 2008 2,0,,,,,,,Dwatripont Maskin (1995) (),,,,,, 1,, R g,,,,,, -, ( ),( ) Shlifr Vishny(1994) (2004),,,,,0,,R ( R > 0),,,,Dwatripont Maskin (1995),,,, :,(0 << 1) ( ), R g,,,r g + R,,, -,,, 1 -,,,,,,Dwatripont Maskin (1995),,,,,, 1, 1,Dwatripont ( ),,,, (2004),,,, 47

5 : Maskin(1995), R p,, R p < R g,,,r p + R,,,, 0,,,Dwatripont Maskin (1995), 1,L,, R p + R, Dwatripont Maskin (1995),,R g ;, B p ;,,,,,, - ;,, B p - ;,,- ;,,B p, 0,, R g ;,,, R g, R,,1 -,,, :, ;,, ;,, : : (), 1 :R p + R - 1 > L, ;>, - B p,, R > (1 - ) ( R g - R p + 1) ; < - B p, 2,,R > R g - R p

6 :,R p + R - 1 > L,R p + R > L + 1,,,,,( - ) = + (1 - ) B p -,B p > > B p,; < - ) + (1 - ) ( B p, B - g + (1 - ) B p - B p - B p,, >,, - B p ( R g + R) + (1 - ) ( R p + R - 1) = R g + (1 - ) ( R p - 1) + R, R g,r > (1 - ) ( R g - R p + 1), - B p,, R p + R - 1,R g,r > R g - R p + 1, 1 R p + R - 1 > L, Dwatripont Maskin (1995) R p - 1 > L,,,R,,,,,, R > (1 - ) ( R g - R p + 1) R > R g - R p + 1,,,,,,,,,R > R g - R p + 1,,,, 1,,Kornai (1986),,,,,,,,,,(0 < 1),,, :,;,, : :,,,, 49

7 : ( ),R, R, 2 2 :R p + R - 1 < L,> max R g - L R g + R - L,, ;,, :R p + R - 1 < L,,,,,, > ( ( - ) - (1 - ) > 0),, ( R g + R) + (1 - ) L R g > R g - L R g + R - L, ( R g + R) + (1 - ) L < R g < R g - L R g + R - L, ;, <,, L L < 1 R g, 2,,,,, R p + R - 1 > L,,,,,,,,, 1 :R p + R - 1,,,, R > R g - R p + 1 :, <,,,,R p + R - 1,R > R g R p, 2 :R p + R - 1 > L, >,, - B p, R > (1 - ) ( R g - R p + 1) 50 : 1, 1 2,,

8 2008 2,,( R g, < < <, - + R) + (1 - ) L ;,,,, <, R - B p + R, p : 3 :R p + R - 1 > L, <<,> R p + R - L B p ( R g + R - 1),, ;, > R p + R - L - 1 ( R g + R - 1), R > R g - R p + 1, :, :, <,, - B p R p + R - 1, i ( R p + R - 1) = R p + R ;, i = 0 L, >,, ( R g + R) + (1 - ) L, : L + i = 1 i [( R g + R) + (1 - ) L ] = ( R g + R) + (1 - ) L + L 1 - R p + R < ( R g + R) + (1 - ) L + L 1 -, > R p + R - L - 1 ( R g + R - L),,,, Dwatripont Maskin(1995), > R p + R - L - 1 ( R g + R - L),,, R p + R - 1,R > R g - R p + 1,,, ( R p + R - 1 > L ),, R p + R ,,,,, ( R g + R) + (1 - ) L 1 -,,,, 3 R p + R - 1 > L,: 51

(1 - ) L ] = ( R g + R) + (1 - ) L + L 1 - R p + R - 1 1 - < ( R g + R) + (1 - ) L + L 1 -, > R p + R - L - 1 ( R g + R - L),,,, Dwatripont Maskin(1995), > R

9 : 1 \ \ < << R p + R - L - 1 [ R g + R - L ] R p + R - L - 1 [ R g + R - L ] << - B p > - B p R < (1 - ) ( R g - R p + 1),,,,,,,, (1 - ) ( R g - R p + 1) < R < R g - R p + 1,,,,,,,, R > R g R p,,,,,,,,,:,r p + R - 1 > L,,R,,,,, (1 - ) ( R g - R p + 1),R,,,, (),>,,,1 -,,, :,,,,, 4 : R p + R > L + 1 (+- ) ( R p + R - L - 1) ( R g + R - L) < < - B p, 3 = - ( - B p ) B p,, > :( - B p ) < <, 3 = - ( - B p ) ( B g - B p ) B p, 3 (),,, 3,,,, : 52 L + (1 - = ( R g ) ( R p + R - 1) + i = 1 i [( R g + R) + (1 - ) L ] + R) + (1 - ) L + L + (1 - ) ( R 1 - p + R - 1)

10 2008 2, 3,,, i ( R p + R - 1) = R p + R , (+- 3 > ) ( R p + R - L - 1) ( R g + R - L) i = 0 4,,, 3,n, 3 n,,,, (), : R p + R - L - 1 ( R g + R - L) = 1 - R g - R p + 1 ( R g + R - L),R p < R g,r, 1 :R g R p, R,> R p + R - L - 1 ( R g + R - L), 1 : R, R,,,,,:, ;,,,, 1 :,,,,,,,,,,,,,,,,,> R p + R - L - 1 ( R g + R - L) R,,,, 2 :R g R p R, <<,, - B p 3,, 53

11 :,,, < <,,> R p + R - L B p ( R g + R - L),,,,,,,,,,,,,,,,,,,,,2,,,,,, 3 :R g R p R,,> R p + R - L - 1 ( R g + R - L) 3 > R p + R - L - 1 ( R g + R - L) :,,,, ;,,, 0,3 Dwatripont Maskin (1995), Shlifr Vishny(1994),,,,,,:,,,,,,, ;,,1,,,,,,,,, 54

12 2008 2,,,;,,,,,,,,,,,,,,,2002 :,,1994 : :,,1997 :,,1999 : :,,,2001 :, No. C ,2003 :, No. C ,2004 :, 2 Dwaatripont, Mathias, and Eric Maskin, 1995,Crdit and Efficincy in Cntralizd and Dcntralizd Economis, Rviw of Economic Studis, Octobr, 62 (4), pp Dwaatripont, Mathias, Eric Maskin, and Grard Roland, 1996,Soft Budgt Constraints and Transition, Mimo, Harvard Univrsity. Kornai, Janos,1979,Rsourc2constraind vrsus Dmand2constraind Systms, Economtrica, Vol. 47, No. 4, pp Kornai, Janos, 1980, Economics of Shortag, Amstrdam : North2Holland. Kornai, Janos, 1986,Th Soft Budgt Constraint, Kyklos, 1986, 39 (1), pp Kornai, Maskin, and Roland, 2003,Undrstanding th Soft Budgt Constraint, Journal of Economic Litratur, 2003, vol. 41, no. 4, pp (42) Lin,J. Y., and G. Tan, 1999,Policy Burdns,Accountability and Soft Budgt Constraint, Amrican Economic Rviw,vol. 89. Shlifr, Andri, and Robrt W. Vishny, 1994,Politicians and Firms, Quartrly Journal of Economics, 109 (4), Novmbr 1994, pp Policy Burdns and Long2run Soft Budgt Constraint Gong Qiang and Xu Zhaoyang (China Cntr for Economic Rsarch, Pking Univrsity) Abstract :Th traditional thoris about SBC implicitly assum that th lndr and dbtor play th gam only onc. Whn w rlax this assumption and considr th long2run rlationship btwn th lndr and dbtor, SBC and moral hazard problm will b gratly allviatd. In this papr, w originat th concpt of long2run SBC and construct a mor gnral framwork in which both traditional SBC and long2run SBC can b incorporatd. Undr th gnral framwork, w discuss th ffct of policy burdns on SBC, and dmonstrat th trad2off btwn thm. Th rason that th SBC problm is svrr in lss dvlopd country than in dvlopd countris might b attributd to mor policy burdns. Ky Words :Rpatd Gams, Policy Burdns, SBC, Moral Hazard JEL Classification : G310 ( :) ( : ) 55