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common prosperity and Reshaping China's Economic Cycle: Theoretical Logic and Empirical Evidence from a Political Economic Perspective

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China Finance and Economic Review 2023年第3期12卷 3-24页

作者： Xiaonan Qiao Xin Li Peizhi Pu School of Economics Nankai University

Fostering a new development dynamic is in nature about reshaping the relations between domestic and international economic cycles to achieve self-reliance and self-strengthening at higher levels.Economic cycle is the integration of various links such as production,distribution,exchange and consumption.This paper attempts to study the influence on economic cycle from income distribution based on the principles of political economy and therefore link common prosperity with the new development dynamic.It finds that labor income share is central to income distribution.On the supply side,income distribution affects choice of technology and production eficiency through changing wages;on the demand side,it influences size of demand and level of capacity utilization both directly and indirectly.Specifically,changing wages lead to changing size of reproduction and consumption by laborers in the direct way and cause changing profit margins and thus affect accumulation in the indirect way.The two channels produce effects simultaneously,yet in opposite directions,which justifies the categorization of economies into"profit-oriented"and"wage-oriented"ones according to the different influence of changing wages on the level of capacity utilization.In this theoretical logic,the paper comprehensively analyzes China's income distribution,wages,all labor productivity,organic composition of capital,profit margins,accumulation rates,level of capacity utilization and relations between domestic and international economic cycles,and finds that Chinese economy has turned from"profit-oriented"to"wageoriented"since the turning point of 2010.It signals both necessity and feasibility of promoting common prosperity and fostering a new development dynamic.This paper also proposes some policy suggestions on promoting common prosperity from the perspectives of ownership,distribution,government-market relations and spatial structure.

关键词： common prosperity distribution economic cycle accumulation method

Growth and common prosperity in China

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China & World Economy 2022年第1期30卷 28-57页

作者： Nanak Kahwani Xiaobing Wang Ning Xue Peng Zhan School of Economics Renmin University of ChinaChina School of Economics University of New South WalesAustralia Department of Economics University of ManchesterUK Department of Economics and Related Studies University of YorkUK Institute for common prosperity and Development Zhejiang UniversityChina

This paper introduces a decomposition method that quantifies the contributions to common prosperity of labor market performance and social policies and extends the idea of shared prosperity to a new measure of inequity in opportunities.The resulting common prosperity indices and opportunity equality indices are then applied to five waves of the Chinese Household Income Project data from 1988 to 2018.This paper shows that the labor market performance and social policies have been improving over the last 30 years and have helped China move towards common prosperity for everyone.The indices developed in this paper allow us to quantify the extent of shared prosperity that a country has achieved and to carry out empirical studies on which policy is working and which is not.It can also help us identify the fundamental causes of inequality and aid us in achieving equality in opportunity among all members of society.

关键词： common prosperity income growth inequity in opportunity labor market social policies

The Research on the Relationship between Corporate Social Responsibility and common prosperity

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Frontiers of Business Research in China 2022年第4期16卷 371-393页

作者： Li Haijian DU Shuang Institute of Quantitative&Techno-logical Economics Chinese Academy of Social SciencesBeijing 100732China China Laboratory of Economic and Social Development and Intelligent Governance Beijing 100732China

Corporate social responsibility(CSR)and common prosperity have the consistency of philosophy and goal.In the process of delivering CSR,enterprises can integrate their tangible and intangible assets to realize a positive cycle of sustainable development and common prosperity.Enterprises can also open up space for both commercial and social value by integrating altruism with self-interest,public welfare with utilitarianism,cost with capital,and today’s development with tomorrow’s development.Indeed,the unification of commercial value and social value can extend pathways to common prosperity and improve common prosperity.By way of the super CSR,enterprises can spread the wealth of their culture and values to society through material products,ethical products,and intergenerational inheritance based on the high compatibility of enterprise high-dimensional culture,enterprise craftsmanship,and enterprise civilizations.They can thus play a leading role in promoting the ethical wealth of the whole of society.Public and private enterprises should maximize their respective advantages in promoting common prosperity of society for realizing the common progress of the people,and should strike a balance between efficiency and fairness.

关键词： corporate social responsibility(CSR) commercial value social value common prosperity

Coordination of Income Distribution System and Promotion of common prosperity Path

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China Finance and Economic Review 2022年第4期11卷 23-43页

作者： Hao Sun Xiaoye Cao School of Economics Zhejiang Gongshang University

This paper aims at summarizing the evolutionary law of income distribution system and providing a reference for the coordination arrangement of primary distribution,redistribution and third distribution policies.Based on policies,this paper refi nes the evolutionary law of income distribution and estimates the proportional relationship among primary distribution,redistribution and third distribution by using the national income data.Its new insight lies in abstracting the evolutionary logic of the income distribution system shifting from emphasizing effi ciency to prioritizing equity and estimating the proportional relationship among the primary distribution,redistribution and third distribution.The study found that China’s income distribution system follows the evolutionary logic of shifting from efficiency to equity.In addition,China has overcome egalitarianism,given priority to effi ciency with due consideration to equity,and placed more emphasis on equity while balancing the relationship between equity and effi ciency,promoting the four stages of common prosperity.Primary distribution,the dominant mechanism for income distribution,is required to provide an equitable distribution order.Redistribution,an important means of income distribution,needs to increase expenditures on people’s living and social security.Third distribution,a useful supplement to income distribution,needs to design a policy system for incentive compatibility.This paper provides policy references for promoting common prosperity and conducting fundamental institutional arrangements for primary distribution,redistribution and third distribution.

关键词： common prosperity distribution system proportion estimation policy coordination

Scientific Connotation,Intrinsic Relationship,and Strategic Key Points for Rural Revitalization under the Goal of common prosperity

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Frontiers of Economics in China-Selected Publications from Chinese Universities 2023年第1期18卷 41-58页

作者： ZHANG Qi ZHUANG Jiakun LI Shunqiang KONG Mei School of Economics and Resource Management Beijing Normal UniversityBeijing 100875China China Institute of Education and Social Development Beijing Normal UniversityBeijing 100875China

This paper analyzes rural revitalization under the goal of common prosperity.Firstly,on the basis of making clear what common prosperity is in the new era along with its connotation,the connotation of rural revitalization under the goal of common prosperity is systematically delved into six dimensions:subject,motivation,content,path,process,and goal.Secondly,the intrinsic relationship between common prosperity and rural revitalization is examined from the perspectives of rural revitalization,common prosperity,and development.Thirdly,grounded on theoretical analysis,this paper outlines strategic key points for rural revitalization under the goal of common prosperity upon applying designing principles to practice.

关键词： common prosperity rural revitalization issues concerning agriculture rural areas and farmers high-quality development

Inclusive Finance,Income Gaps and common prosperity

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中国经济学人:英文版 2023年第5期18卷 34-53页

作者： Yin Zhichao Wen Xiaomei Li Chuanzheng School of Finance Capital University of Economics and BusinessBeijingChina China Rongtong Culture and Education Group Co. Ltd.

According to the Report to the 20^(th) CPC National Congress,delivering common prosperity for all the people is an intrinsic requirement of Chinese modernization.Based on China Household Finance Survey(CHFS)data from 2015 to 2019,this study examines the effects of inclusive finance on China’s household income disparities and demonstrates how inclusive finance contributes to shared prosperity.Our empirical research reveals that inclusive finance has significantly decreased the income disparities between Chinese households.Inclusive finance has significantly increased the income levels of households below the 40^(th) percentile,making it more likely for them to move above the 40^(th) percentile of incomes,which is conducive to delivering common prosperity.Our analysis indicates that inclusive finance will reduce income disparities by assisting low-income households in starting a business and by promoting rural household employment.Reflecting its inclusive nature,further investigation reveals that inclusive finance has a greater positive impact on the income level of vulnerable households.Our research offers new evidence for comprehending the role of inclusive finance and a new interpretation of income disparities,with policy implications for accelerating Chinese modernization.

关键词： Inclusive finance common prosperity income disparity entrepreneurship non-farm employment

Theoretical Connotation and Quantitative Measurement of common prosperity

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China Finance and Economic Review 2022年第2期11卷 23-45页

作者： Haiyuan Wan Jiping Chen Business School of Beijing Normal University

It is of great importance to fully understand the connotation of and identify a quantitative method to measure common prosperity in China.This paper starts with a theoretical framework of fairness,efficiency,development,and shared prosperity,draws upon the proper understanding of common prosperity with Chinese characteristics,and explores a globally quantitative measurement of common prosperity,with a focus on the outcomes of national prosperity and prosperity for all.Furthermore,this paper discusses the assumptions and mathematical expressions of the quantitative function and analyzes the structural implications of indicator dimensions,functional relations,and variable standardization to ultimately provide a solid quantitative foundation for promoting common prosperity.The findings show that the quantitative measurement of common prosperity proposed in this paper performs stably in terms of weights,thresholds,and indicator settings.Based on the data of 162 economies collected between 1990 and 2020,this paper finds that China has made great progress in promoting common prosperity,which showcases the strengths of the country’s socialist system.

关键词： common prosperity per capita GNI Gini coefficient Human Development Index(HDI) quantitative method

Poverty Reduction in China: Experiences and Measurement of Effects

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China Economist 2024年第1期19卷 103-126页

作者： Zhan Wang Institute of Industrial Economics(IIE) Chinese Academy of Social Sciences(CASS)BeijingChina

This study employs the generalized method of moments(GMM)and panel vector autoregression(PVAR)models for a multi-factor quantitative dissection of China’s poverty reduction process across multiple stages,using provincial panel data from 2000 to 2019.According to our research,economic growth and social development are the key drivers of poverty reduction in China,but the trickle-down effect of economic growth is diminishing and marketization is having a lesser pro-poor effect.Public expenditure has failed to provide social protection and income redistribution benefits due to issues such as targeting error and elite capture.Increasing the efficiency of the poverty reduction system calls for adaptive adjustments.Finally,this study highlights China’s poverty reduction experiences and analyzes current challenges,which serve as inspiration for consolidating poverty-reduction achievements,combating relative poverty,and attaining countryside vitalization.

关键词： Poverty reduction governance measurement of effects countryside vitalization common prosperity

People's Well-rounded Development:The Value Orientation of common prosperity in the New Era

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The Journal of Human Rights 2023年第3期22卷 558-575页

作者：张晗 QIAN Chuijun the Law Teaching and Research Department of the Party School of the CPC Chongqing Municipal Committee(Chongqing Academy of Governance) 不详

Achieving common prosperity for all is an important feature of Chinese modernization and an essential requirement of socialism with Chinese characteristics,with the core value orientation of promoting the people’s well-rounded development.This reflects the close relationship between people’s well-rounded development and common prosperity and implies that common prosperity is not just an economic issue,but also a political matter,a moral subject,and a human rights goal.Being“people-centered”is the core positioning of common prosperity,with its inherent collective and individual attributes.In terms of the object dimension of prosperity,it encompasses a wide range of rights such as material and spiritual well-being,which are advanced in a coordinated manner,and a deepening level of guarantee gradually improving.In the practical concept of“shared development,”it emphasizes the unity of state obligations and individual responsibilities,as well as the phased approach and promotion of common prosperity through the rule of law.Therefore,the essence of common prosperity lies in shifting from a“material-centered”perspective to a“people’s well-rounded development-centered”perspective.It combines the principles of fairness and inclusiveness with the recognition of diverse developmental needs.The focus is on enhancing the subjective initiative of the people,aiming to truly achieve the happiness of the people and promote people’s well-rounded development through the realization of“common prosperity.”

关键词： common prosperity people’s well-rounded development people-centered shared development subjective initiative