The nonlinear effect of financial and fiscal policies on poverty alleviation in China—An empirical analysis of Chinese 382 impoverished counties with PSTR models
Autoři:
Xicong Kuang aff001; Huihuang Liu aff001; Guoqiang Guo aff002; Haixing Cheng aff003
Působiště autorů:
School of Economics and Trade, Hunan University, Changsha, China
aff001; School of Economics, Huazhong University of Science and Technology, Wuhan, China
aff002; School of Economics, Huazhong University of Science and Technology, Wuhan, China
aff003
Vyšlo v časopise:
PLoS ONE 14(11)
Kategorie:
Research Article
doi:
https://doi.org/10.1371/journal.pone.0224375
Souhrn
Using panel smooth transition regression (PSTR) models, this paper studies the effects of financial and fiscal policies on poverty reduction across 382 poverty-stricken counties in China. The findings are that both fiscal and financial policies have a positive influence on poverty reduction, and their relationships are nonlinear. For either a high or low degree of poverty, fiscal policies are effective for poverty reduction, while financial policies have a greater impact on poverty reduction when there is a medium degree of poverty. Therefore, in deciding which policies should be prioritized for reducing poverty, the level of poverty should be taken into account. To be more specific, when a portfolio of poverty-reduction policies is implemented, fiscal policies should be prioritized at the beginning, when the incidence of poverty is high. Then, financial support should come to the forefront as the poverty level drops, and fiscal support should be stepped up when the poverty level continues to drop.
Klíčová slova:
Economic development – Finance – Public finance – Socioeconomic aspects of health – Urban ecology – Fiscal policy – Monetary policy – Poverty reduction
Zdroje
1. Li XY, Yu LR, Qi GB, The Role of China's Economic Growth in Poverty Reduction Over 2000–2008: A National and Regional Empirical Analysis, Chinese Rural Economy, 2010;4:4–11.
2. Xia QJ, Song LN, Simon A, Economic Growth and Rural Anti-Poverty, China Economic Quarterly, 2010; 3:851–870.
3. Lin BQ, Economic Growth, Poverty Reduction and Policy Options in China, Economic Research Journal, 2003; 12:15–25.
4. Ci Zhang, Growth Economic and Poverty Reduction in China-An Analysis from the Perspective of Industrial Composition, The Journal of Quantitative & Technical Economics, 2011; 5:51–63.
5. Hu B, Lai JS, Hu BD, Economic growth, Income Distribution and Poverty Alleviation-Based on the Empirical Analysis of Rural Poverty Changes in China, The Journal of Quantitative & Technical Economic, 2007;5:33–42.
6. Wan GH, Zhang Y, The Impact of Income Growth and Inequality on Poverty in China, Economic Research Journal, 2006; 6:112–123.
7. Klasen S., Waibel H., Vulnerability to Poverty: theory, measurement and determinants, Palgrave Macmillan, 2010.
8. Dollar David, Kraay Aart, Growth is Good for the Poor, Journal of Economic Growth, 2002.3:195–225.
9. Ravallion M, Growth and Poverty: Evidence for Developing Countries in the1980s. Economics Letters, 1995; 48:411–417.
10. Chambers D, Ying W, Hong Y, The Impact of Past Growth on Poverty in Chinese Provinces, Journal of Asian Economics, 2008; 19:348–357.
11. Li XP, Research Review on Chinese Rural Human Capital and Economic Development, Rural Economy and Science-Technology, 2015; 12:43–45.
12. Jia Y, Empirical Test of the Contribution of Rural Human Capital to Rural Economic Growth, Statistics & Decision, 2012; 14:142–144.
13. Li XL, Li GP, Li FZ, Rural Human Capital Trap: validation and analysis of rural China, China Rural Survey, 2005; 5:17–22.
14. Zhou X, Zhu N, The Role of Human Capital in China's Rural Economic Growth, Population Science of China, 2003; 6:17–24.
15. Liu W, Fan X, Internal Logic and Practice Path of Modern Economic Growth Theory, Journal of Peking University (Philosophy and Social Sciences), 2019;3:35–53.
16. Xie DY, Zhou ZX, The Historical Development and Future Challenges of Economic Growth Theory: From the perspective of the Evolution of Production Functions, Economic Review, 2019; 3:30–39.
17. Wang CC, Rural Land Transfer, Labor Resource Allocation and Farmer Income Growth: an Empirical Study based on Surveys of Chinese 17 provinces, Journal of Agrotechnical Economics, 2011; 1:93–101.
18. Xu CS, Formation and Use of Capital at Economic takeoff Stage, Journal of Huazhong University of Science and Technology (Social Science Edition), 1992; 1:15–20.
19. Xu CS, Review of Zhang Peigang’s Development Economics, Social Sciences In China, 1995; 4:65–77.
20. Research Group of Agricultural Economic Research Center of Ministry of Agriculture, The Key to the Economic Take-off of Underdeveloped Areas is "Resource Capitalization"-the empirical experience of China's experiment with poverty alleviation, Management World, 1997;6:136–144.
21. Todaro M.P., Economic Development in the Third World, Renmin University of China Press, 1991.
22. Solow R. M., Technological Change and Gross Production Function, Economics Quarterly, 1957.
23. Cepparulo Cuestas, Intartaglia, Financial development, institutions, and poverty alleviation: an empirical analysis, Applied Economics.2017; 49:3611–3622.
24. Yang YC, Financial Development and Economic growth-based on the Analysis of Threshold Variables of Financial Development in China, Journal Financial Research, 2014; 2:59–71.
25. Wu Z, Financial Development and Economic Growth: An empirical Analysis of China, Journal Financial Research, 2010; 5:58–68.
26. Li YK, Han YC, Financial Development and Economic Growth under the Evolution of Financial Environment: the International Experience, The Journal of World Economy, 2013; 8:145–160.
27. Chen YL, Ma Y, Ruan ZY, How the Financial Cycle and Volatility Affect Economic Growth and Financial Stability, Journal of Financial Research, 2016; 2:1–22.
28. Wang DX, Li LL, Ran GH, Formation of Financial Capital and Economic Growth, Economic Research Journal, 2009; 9:39–51.
29. Ding ZG, Zhang Y, Gao QR, Identification of Rural Financial Factors Affecting Rural Economic Development Based on Regional Economic differences, Chinese Rural Economy, 2014; 3:4–13.
30. King R.G., Levine R., Finance, Entrepreneurship and Growth: Theory and Evidence, Journal of Monetary Economics, 1993, 32:513–542.
31. Cui YJ, Sun G, Is Financial Development the Answer to Poverty Alleviation? The Evidence from China, Journal of Financial Research, 2012; 11:116–127.
32. Yang J, Wang Y, Zhang ZY, Empirical Analysis of China's Financial Development and Poverty Reduction, The Journal of World Economy, 2008;8:62–76.
33. Wang XH, Wang DX, Wen T, Effects of Agricultural Credit on Poverty Reduction and Income Increase in China: Stratified Comparison between Poor and non-Poor Counties, The Journal Quantitative & Technical Economics, 2014;9:40–55.
34. Su J, Hu ZY, Tang LW, Xiao P, Threshold Characteristics and Regional Differences of Poverty Reduction Effect of Rural Informal Financial Development-Analysis Based on PSTR Model, Chinese Rural Economy, 2013;7:58–71.
35. Wang J, Zhang KZ, Public Expenditure Structure and Rural Poverty Reduction-Evidence based on Cross-Province Panel Data, Chinese Rural Economy, 2012;1:31–42.
36. Chu DY, Zhao F, Fiscal Decentralization and Rural Poverty-an empirical test based on Chinese data, Chinese Rural Economy, 2013; 4:79–91.
37. Zhang KZ, Feng JC, Lu YP, Is Fiscal Decentralization Conducive to Poverty Reduction? Cross-province Evidence after Tax Reforms, The Journal of Quantitative & Technical Economics, 2010; 12:3–15.
38. Li YY, Shen KR, Fiscal Expenditure Structure, Relative Poverty and Economic Growth, Management World, 2007; 11:14–26.
39. Gonazlez A., Terasvirta T., Dijk D.and Yang Y, Panel Smooth Transition Regression Models, 2017.
40. Wang RD, Design and Demonstration of Rural Regional Anti-Poverty Measurement Index System-Taking Yunnan as an Example, Chinese Rural Economy, 2006; 12:69–76.
41. Yu FD, The Common Poverty Monitoring and Statistics Methods in the World, China Statistics, 2004; 8:54–55.
42. Shen XM, Poverty in Wealth: An Analysis of the Standard Statistical Indicators of Poverty in the United States, World Economy, 1986; 5:19–24.
43. Qin JJ, Wu LP, A Study on the Effect of Financial Support for Agriculture on Rural Poverty Reduction-based on 30 years of reform and opening up in China, Finance and Trade Research, 2011;3:19–27.
Článek vyšel v časopise
PLOS One
2019 Číslo 11
- S diagnostikou Parkinsonovy nemoci může nově pomoci AI nástroj pro hodnocení mrkacího reflexu
- Je libo čepici místo mozkového implantátu?
- Pomůže v budoucnu s triáží na pohotovostech umělá inteligence?
- AI může chirurgům poskytnout cenná data i zpětnou vazbu v reálném čase
- Nová metoda odlišení nádorové tkáně může zpřesnit resekci glioblastomů
Nejčtenější v tomto čísle
- A daily diary study on maladaptive daydreaming, mind wandering, and sleep disturbances: Examining within-person and between-persons relations
- A 3’ UTR SNP rs885863, a cis-eQTL for the circadian gene VIPR2 and lincRNA 689, is associated with opioid addiction
- A substitution mutation in a conserved domain of mammalian acetate-dependent acetyl CoA synthetase 2 results in destabilized protein and impaired HIF-2 signaling
- Molecular validation of clinical Pantoea isolates identified by MALDI-TOF
Zvyšte si kvalifikaci online z pohodlí domova
Všechny kurzy