Transformation Of Institutional Change And Economic Growth

The economic growth in the transitional period of China is studied in this thesis , and the purpose is to examine the effect of institutional changes on economic growth. The subjects such as the impact of institutional changes on economic efficiency, the relation of local government's behavior and economic growth under the decentralized fiscal system, and the open policy have been studied with positive and normal methods.The concrete content of the thesis is as follows:Chapter 1 explains the background and significance of this study.Also, some key concepts have been defined and some innovations 'weak points have been put forward in this chapter.Chapter 2 reviews the development, main thought and contribution of the western economic growth theory at every stage.Besides, a brief survey has been made about the domestic and international relevant research documents.The definition of the institution has been defined in chapter 3, in which the general theory of institution has been probed into. On this basis, We draw the theme of this study: Institution changes and economic growth, by analyzing the key elements of the market-oriented reforms of China.The random frontier function is utilized in chapter 4 to study efficiency improvement, technological progress and the total factor productivity in the economic growth. The result indicates that the institutional variable is the important factor to explain the efficiency improvement. Also, the characteristics of efficiency level and technological progress have been explained in terms of institutional changes, and the growth rate of TFP calculated under different methods have been compared .On this basis, this chapter has further studied the convergence of regional economy from efficiency, the results indicate that it is an important mechanism of bringing convergence to regional economy.In chapter 5 the Laffer curve is derived from the Barro model, and the relation of public expenditure and economic growth has been analyzed under the precondition of fiscal balance. Further.the Laffer curve is tested by using the macroeconomic data of all provinces, and the conclusions of excessive expenditure , too high taxation of government have been drawn . Also, the different impacts of government's budgetary investment and non- budgetary investment on economic growth have been studied, and the results indicate that budgetary investment is unfavorable to the economic...