Research On The Institutional Rationalization Of Property Income Distribution In China's Middle-income Stage

After entering the middle-income phase,our country has extricated from the state of being poor and backward.Residents' income is growing rapidly.Not only has the residents' life improved rapidly,but also the property and property income has improved significantly.However,we can see from the distribution of the property and property income,that the rapid growing residents' property and property income is out of balance,which is insufficient when comparing with developed countries.In the 19 th CPC National Congress report,the Chairman Xi pointed out,"the imbalance and insuffciency of development has become the major factor which cannot meet the growing needs of the people for a better life ",to solve the problem of the unbalanced growth of property income distribution,some measures of the income distribution system have been taken in our country,but the income distribution system reform lag behind,and there still exists a big contradiction in the demand of the distribution of property income,as well as there are many irrationalities in the design of income distribution system.The addressing of these problems should be fulfilled by deepening the rationalization of property income distribution system and by setting up the complete multi-level income distribution system as soon as possible.In addition to the introduction,there are seven parts in this paper.And the main contents of the study are as follows:The first part is about the related concepts and theories.First of all,related concepts and theories are defined and reviewed in this essay,and the main concept involves are middle income stage,property income,rationalization of the system of property income and so on.Secondly,related theories are reviewed in this essay,the main theories: firstly,the related theories about the rationalization of the income distribution system of the Marxist theory;secondly,the related theories about the rationalization of the income distribution system of development economics;thirdly,the related theories about the rationalization of the system of institutional economics,including: transaction cost theory,rent-seeking theory,institutional change theory.At last,there is a brief comment about the research of the rationalization of the system in this essay,which presents that this research not only needs to insist on the position,viewpoint,and approach of the Marxist theory,but also needs to learn from other relevant theories.The second part is an analysis of the characteristics of property income distribution in the middle-income stage of China.In this part,the data and information of the National Bureau of Statistics was used to analyze and demonstrate the property income's characteristics of the unbalanced increase.Firstly,property income is growing rapidly with the development of the economy;Secondly,property income disparity and the influence of the gap in gross income are expanding.The coexistence of growth and disparity highlight the main feature of property income distribution in the middle-income stage.The third part is an analysis of the institutional reasons for the imbalance of property income in the middle-income stage of China.First is about the institutional reasons for the growth of property income,the establishment of "public ownership as the main body,a variety of ownership of the common development of the economy" has become the institutional basis for property accumulation;The constitution and relevant laws and regulations provide protection for the legality of residents' s property;The multi-level trading market has become the investment market as well as the instrument of diversification of property;the distribution system of production factors according to their contribution provides basis for the distribution of property income.Second,the reason for the widening property income gap is an unreasonable system.It was mainly manifested in the three parts: unreasonable initial distribution system leads to unfair property accumulation;the effectiveness of redistribution system has not been fully realized;the related system of non-income distribution has some defects.The fourth part puts forward the major ways to realize the balanced growth of property income in the middle income stage of China—system rationalization.In view of the positive effects of property income growth,meanwhile the property income gap will lead to a negative influence;the connotation of system rationalization should refer to the system that could promote “growth” and "shrinkage".Theoretically,the rationalization of the system could solve the problem of unbalanced growth in the distribution of property income,because the rationalization of the system can not only promote the growth of residents' property income,but also adjust the gap among residents' of property income.The mechanism of system rationalization is the result of the tripartite game of system stability,environmental variability,uncertainty and profit maximization.The fifth part is an empirical analysis of rationalization of property income distribution system in middle-income stage.This section selects the typical countries(Japan,Korea and Singapore)that scholars have recognized as crossing middle-income trap.Through the analysis of the basic practice of rationalization of property income distribution system in middle-income stage in these countries,from which the author will draw some useful experience.The sixth part is an analysis of the situation of the rationalization of property income system in middle-income stage in China.This part mainly probes into the measures of the property income distribution system in China,and then analyses the reasons that restrict the rationalization of the property income distribution system in China.Firstly,the factors that restricts the rationalization of the initial distribution system,including macro-economic development level and micro-wage growth mechanism,property rights structure,and market-oriented reform.Secondly,the factors that restrict redistribution system,including the lack of effective supply and the lack of perfection of system design.Thirdly,the factors that restrict the rationalization of non-income distribution related system,including the rationalization and preference of the system designer,the time lag of the system change,and the implementation mechanism of the system.The seventh part puts forward the policy analysis and suggestions that promote the rationalization of property income distribution system.Policy analysis includes the rationalization of the initial distribution system which suggests that we need to improve the income of workers and optimize the market environment of factor price and improve the property operation of various related systems.Policy analysis also includes rationalization of redistribution system,which means we need to improve the effective supply of the system and improve the property tax,gift tax and inheritance tax system so as to improve the personal property evaluation and registration system.Policy analysis also includes the related systems and rationalization of non-income distribution,which means we need to promote urban-rural integration and strengthen the unbalanced strategy to promote balanced development and promote the development of quality education.Based on previous research results,this paper attempts to make the following breakthroughs in the rationalization of property income distribution system:(1)Using Marxist theory that system of ownership of means of production determines the mode of distribution to analyze the property income gap in China.On the basis of insisting that ownership is the ultimate lever theory that determines participation in distribution.In view of the expanding trend of the property income gap in China,this paper analyzed the property income gap.Firstly,due to the low labor remuneration in terms of property accumulation,while the major low-income people is characterised as labor remuneration.Secondly,the extraordinarily high income of special groups exacerbates the inequality of property accumulation.Thirdly,the transaction theory was used to prove the problem that the transaction cost was too high in property operation due to various system defects.Based on the above analysis,this paper draws a conclusion that changing the property and property income imbalance is the key factor to realize the rationalization of the system.(2)Using the theory of rationalization of the system to analyze the process of property income distribution.This paper argues that there is no shortage of institutions in property income distribution,the only change is the choice of system set.The process of institutional rationalization is a result of the game among system stability,environmental variability,as well as their interest maximizing efforts.With China's economic development at this stage,the original system set has shown many shortcomings which do not in agree with the requirements of economic development.At the same time,in view of the positive effect shown in the property income growth and the negative effect shown in the property income gap,hence,we must change the original inefficient property income distribution system,promote the property income growth and narrow the income gap with the rationalization of the system,that is achieve its balanced growth.In the process of research,there were many inadequacies.First of all,the use of relevant theory analysis mainly is qualitative analysis,but quantitative analysis is insufficient.Secondly,due to the limitation of time,ability and conditions,this study lack of direct data on property income,and the data used in this paper is mainly from the website of the National Bureau of Statistics or second-hand information.Thirdly,this paper only made a rough study on the relevant institutional changes of property income distribution,and more work needs to be done in the future research,such as specific system design and path realization of property in distribution and other issues.