Private Economy Research Articles

Analyzing the Causes of the Slowdown in Economic Growth--From the Perspective of the Economic System

Following the conclusion of the Second Cold War, the economic landscape of the Soviet Union experienced a significant decline, in stark contrast to the rapid growth observed in its competitor, the United States. Even Russia, which implemented reforms via "shock therapy," not only failed to reverse the economic downturn during that period but also faced adverse effects from international lobbying due to the hasty liberalization of its capital account. In essence, Russia's current economic system still favors the extractive approach, which is reflected in the government's control of the main distribution of resources, small and medium-sized enterprises (SMEs) account for a small proportion of output, which in turn inhibits the enthusiasm and creativity of the labor force. Conversely, the United States, Japan, and Singapore safeguard private property rights via the judicial system and foster the growth of private enterprises through strategic policies or government-driven initiatives. By comparing the impact of countries adopting extractive and inclusive economic systems on their economic situation, this paper argues that developing countries need to ensure the independence of legislation when switching to an inclusive economic system so that private property rights can be protected from a legal perspective. Simultaneously, it is essential to restrict government involvement in the market via the state-owned sector to maximize the preeminence of the private economy.

Private Economy Development, Enterprises Financialization, and Total Factor Productivity of Enterprises

This study examines the impact of financialization on total factor productivity (TFP) in private enterprises, focusing on companies listed on the Shanghai and Shenzhen stock exchanges in China from 2013 to 2022. The analysis reveals that increased financialization within private firms negatively impacts TFP. This finding remains consistent across various robustness checks. Further analysis reveals that the adverse impact of financialization on TFP is more pronounced in firms situated in regions with substantial financing constraints and lower levels of market development. These results offer empirical evidence on the economic implications of financialization in businesses and support the ongoing development of the private sector.

The Key Role of the Chamber of Commerce in Supporting the High-quality Development of the Private Economy

The chamber of commerce is a powerful support to serving the government and managing the non-public economy, which can strongly promote the high-quality development of the private economy in Shaanxi. In recent years, Shaanxi has made multiple overall plans and taken multiple measures to improve the vitality of the development of the chamber of commerce in an all-around way, enabling the high-quality development of the private economy with policy integration and innovation. However, there are still problems in the development of chambers of commerce, such as a lack of public service awareness, lack of institutional norms, uneven levels of development, and lack of unified centralized management. Therefore, this paper puts forward four countermeasures and suggestions. First, clarify the boundary of power and responsibility, and effectively exert the function of the federation of industry and commerce. Second, strengthen the legal guarantee and support of norms and policies. The third is to improve the level of autonomy of chambers of commerce and enhance the development in all aspects. Fourth, build a new type of government-business relationship and continuously improve the market business environment.

New era Dalian Strengthens to People in the Private Economy in Ideological and Political Studies

Private economy is an important part of China's national economy, playing an irreplaceable role. In the new era, private economy is faced with various difficulties due to the changes of international economic environment and the development of domestic economic situation. An in-depth analysis of the new characteristics of the ideological and political work of private economic personages in Dalian, by optimizing the development environment of private economy, perfecting the mechanism of ideological and political work of private economy, screening the content of ideological and political work that matches the actual needs of private economy development, and making full use of modern multiple carriers, etc., it is of great significance to strengthen the ideological and political guidance of private economic personages in Dalian.

Pathways for Integrating Wenzhou's Private Economy and Higher Vocational Education in the Context of High-Quality Development

This study examines ways of convergence between the private economy and Wenzhou higher vocational education in the context of quality development. This paper presents an overall analysis of the current situation of the integration of private enterprises and vocational schools, identifies the main challenges and proposes strategies for strengthening cooperation between private enterprises and vocational schools. Although significant progress has been made in both areas, integration has not yet reached its full potential. The study calls for stronger partnerships, greater involvement of industry in curriculum design and policy measures to better integrate vocational education with the economic needs of the region.

Competitive imitation and corporate innovation in private enterprises

The private economy has always been an important force in promoting the development of China's national economy. The unfair competition faced by private enterprises (PEs) compared to that faced by state-owned enterprises (SOEs) in many areas will induce the competitive imitation of PEs. We find that PEs' competitive imitation strategy significantly inhibits innovation, while increased agency costs and reduced R&D investment are the two main mechanisms for this inhibitory effect. Furthermore, we find that this effect is stronger in firms with lower growth rate, worse information environment and stronger product market competition. However, the competitive imitation of PEs will eventually damage their innovation efficiency.

Understanding the historical processes of privatization policies in North Africa: Lessons from the cases of Algeria, Morocco and Tunisia

This paper provides a concise historical analysis of the political economy of privatization in Algeria, Morocco, and Tunisia from the 1980s to 2007, a period that witnessed the emergence of privatization as a primary policy tool to reform the public sector. The paper examines the influence of political history, macroeconomic considerations, and International Development Agencies (IDAs) on the early privatization processes in these North African countries. Despite shared developmental trajectories, internal and external factors had a significant impact on the outcomes of economic liberalization. The paper aims to answer the following key questions: What were the underlying political-economic factors driving privatization, and how successful was it in achieving the promised economic growth? Through a focused analysis of each country’s contextual factors, privatization processes, and outcomes, the paper contributes valuable insights into the nuanced dynamics shaping privatization in developing countries.

The Development Path of Wenzhou's Integration of the Private Economy and Vocational Education Under the "Four Chain Drive" Model

Wenzhou City, one of the key areas in China for private economic development, has been actively pushing for the deep integration of the private sector and vocational education in recent years, seizing the chance presented by the "Ministry and Province Co-constructing" National Highland of Vocational Education Innovation pilot project. This study attempts to investigate the creative growth path by using the integration of the private business and vocational education in Wenzhou City as the research object and the "four-chain-driven" model as the theoretical foundation. This study determines the research status, issues, and influencing factors of the industry and education integration mode by methodically arranging the academic history and dynamics of related research both domestically and internationally. It also incorporates the chain theory into the relevant research on the evolution of the integration of industry and education, which offers the theoretical foundation for this investigation. Research on the current state of Wenzhou's integration of the private sector and vocational education, research on influencing factors, and research on the "four-chain-driven" model are all included in the study. In order to provide references for governmental decision-making, this study aims to thoroughly analyse the current state of affairs, issues, and potential mechanisms of the integration of the private economy and vocational education in Wenzhou from multiple dimensions through empirical investigation, statistical analysis, and case studies. In the end, this research seeks to create an innovative "four-chain-driven" model of industry-education integration and development that is in line with Wenzhou's real circumstances. It also offers theoretical direction and doable avenues for Wenzhou to achieve superior industry-education integration development.

Development of Rural Cultural Tourism Industry under the Digitalization of National Culture: A Case Study of the Yellow River Basin in Huyi District, Xi'an City

The report of the 20th National Congress of the Communist Party of China made important arrangements for accelerating the construction of digital China and implementing the national cultural digitalization strategy, clearly proposing to "accelerate the development of the digital economy and promote the deep integration of the digital economy and the real economy"[7] Rural tourism is the key to promoting the breakthrough and development of the private economy and the county economy, as well as the key to promoting the adjustment, transformation and upgrading of the industrial structure. In addition, the improvement of the governance of villages near the Yellow River Basin has carried out a lot of theoretical research on the rural revitalization of the Yellow River Basin from different perspectives such as industrial prosperity, cultural inheritance, ecological restoration, and rural governance, which has laid a good theoretical support for the research and implementation of this project. However, compared with the eastern region, there are still a series of problems in the development process of rural cultural tourism in the western region, and some problems have not yet been solved. The Sixth Plenary Session of the 19th CPC Central Committee proposed that the development of the rural economy should be promoted through the development of industry so that the peasants can live a better life. Therefore, under the requirements of the governance of the Yellow River Basin and the strategy of rural revitalization, it is of great significance to study and discuss the main problems existing in the integrated development of the cultural and tourism industry in the Hubei District of Xi'an City, and put forward targeted opinions and suggestions, which is of great significance to promote the high-quality development of the cultural and tourism industry.

Study on the Railway Effect of the Coordinated Development of the Economy and Environment in the Chengdu–Chongqing Economic Circle

Transportation infrastructure plays a crucial role in economic development and significantly influences climate change, providing direct and indirect benefits towards the attainment of Goals 8 and 13 of the United Nations Sustainable Development Goals (SDGs). This study investigates the impact of railway infrastructure on the level of economic and environmental coordination development in the Chengdu–Chongqing economic circle, using panel data from 16 cities spanning from 2010 to 2020. The analysis employs a coupled coordination degree model and a panel fixed effects model. The findings reveal a gradual increase in the level of economic and environmental coordination development in each city during the study period. Notably, Chongqing and Chengdu exhibit significantly higher levels compared to other cities. Railway infrastructure construction can significantly promote the coordinated development of the urban economy and environment. In areas with a high level of coordinated development of the economy and environment, the promoting effect is relatively small, while in areas with a low level of coordinated development of the economy and environment, the promoting effect is relatively large. Over the long term, railways continue to significantly promote the coordinated development of the urban economy and environment. The construction of railways can stimulate the development of the urban private economy and marketization, thereby facilitating the coordinated development of the urban economy and environment.

Digital Finance, Private Economy, and Common Prosperity: An Empirical Analysis from Zhejiang, a Demonstration Province for Common Prosperity

In the critical period of accelerating the realization of common prosperity, exploring the successful experience of Zhejiang in promoting common prosperity is of great significance for demonstrating its leadership and driving the development of common prosperity in China. Based on the calculation of the level of common prosperity in eleven prefecture-level cities in Zhejiang from 2011 to 2021, this paper uses a panel data model to analyze the impact of digital finance on common prosperity and further explores the intermediary role played by the private economy. The research findings indicate that digital finance significantly promotes the development of common prosperity, with the private economy playing a crucial intermediary role. In light of this, the paper proposes the vigorous development of digital finance to drive common prosperity through the growth of private economy.

A Clustering Study on the Entrepreneurial Policy Texts of Wenzhou University Students

With the success of the 20th National Congress of the Communist Party of China, Chinese path to modernization, the construction of Zhejiang Demonstration Area for Common Prosperity, rural revitalization, and the new situation of epidemic prevention and control, Wenzhou's economy will usher in a new round of growth. As the birthplace of China's private economy, entrepreneurial consciousness is deeply rooted in this land, and college students, as the new generation of entrepreneurial forces, their entrepreneurial activities will be an important force for Wenzhou's private economy to shine again. The entrepreneurship policy for college students, as an important influencing factor driving entrepreneurial activities, is worth exploring whether it can adapt to the current environment and whether there are areas for optimization. This study collected entrepreneurship policies in Wenzhou over the past 8 years and used the research method of co word clustering analysis to quantitatively study the policies. The results show that Wenzhou is currently committed to establishing and improving a high-quality service system for relevant college student entrepreneurship groups. At the same time, the Wenzhou government has fully realized the predicament of the development of local key industries in Wenzhou and has provided targeted assistance for different entrepreneurial problems.

Empirical Study on Financing Constraints of Small and Micro Enterprises in Taizhou

The development of regional and private economies has been hindered by the persistent challenges faced by small and micro companies in securing financing. This study develops an empirical framework to examine financing limitations and conducts a comparative analysis on the financing constraints faced by small and micro firms in Taizhou. The analysis is based on a dataset specifically collected for small and medium-sized enterprise financing. Research indicates that capital structure factors have an impact on the investments of both medium-sized enterprises and micro, small, and medium enterprises (MSMEs). However, MSMEs tend to face more severe limitations in accessing financing compared to medium-sized enterprises. Additionally, the presence of assets that can be used as collateral is found to significantly influence the level of indebtedness for MSMEs, whereas its effect on medium-sized enterprises is less pronounced. The article presents a range of countermeasure proposals aimed at addressing the financing challenges faced by MSMEs. These proposals encompass several key areas, including the establishment of a policy support system that promotes collaboration across multiple sectors, the provision of differentiated credit support, the restructuring of the financing credit guarantee system, and the advancement of digital inclusive finance to enhance the precision of financial services for MSMEs.

Research on the Path and Effectiveness of Mixed Ownership Reform of State-Owned Enterprises

The theme of this article is how enterprises carry out Enterprises of the Composite-Ownership System and investigate it from three aspects: development history, reform path, and reform effect. The article argues that a mixed ownership economy is the core content of Chinas economic system, which aims to improve the productivity and competitiveness of Chinese capital and prompt the unified and mutual development of the state-owned economy and private economy. The article reviews the four stages of the revolution from 1978 to today and introduces the characteristics and policy measures of each stage. The article also discusses two main paths of mixed ownership reform: whole listing and private enterprise participation, and analyzes their impact on the financing, governance, brand, innovation and other aspects of state-owned enterprises. The article finally evaluates the effect of the reform, taking some state-owned listed companies and mixed-ownership enterprises as examples, proving that mixed-ownership reform can improve the management productivity and innovation deficiency of enterprises.

Research on the Innovation and Practice of Municipal Industry-Education Consortium Based on the Advantageous Correlation Degree Method under the Development of Wenzhou Private Economy

Abstract Industry-education integration education is increasingly important in promoting regional economic growth. Taking the private economic development of Wenzhou City as the background, this paper analyzes the development level of industry-education integration in Wenzhou City in depth at the geographical level by applying the perspective of industrial association. The study reveals the correlation between the development of the city’s industry-education consortium and the regional private economy industry and its economic effect characteristics. The relationship between the innovative practice of industry-education consortium and the development of private economy was quantitatively measured using the dominant correlation model’s absolute correlation and correlation order methods. The analysis results show that the economic driving effect of the industry-education consortium is characterized by apparent temporal sequence, and verifies its effectiveness in promoting economic output and facilitating industrial upgrading. It is found that the correlation between the municipal industry-education consortium and Wenzhou private economy is generally higher than 0.6, and the value of the correlation coefficient of the driving force is between 0.6 and 0.9, indicating that the innovation of the industry-education consortium has a significant driving effect on the development of Wenzhou private economy. This study provides valuable references and insights for further deepening the development strategy of regional industry-education integration and promoting regional economic development.

Spatial Efficiency of Scientific and Technological Innovation in the Private Economy

Spatial Efficiency of Scientific and Technological Innovation in the Private Economy

The Political Economy of Privatization of Education: Role of Local Politicians in India

The Political Economy of Privatization of Education: Role of Local Politicians in India

Influence of Circular Economy Financial Marketization on Development of Private Economy Based on Input-Output Model

Influence of Circular Economy Financial Marketization on Development of Private Economy Based on Input-Output Model

Continuously Optimize the Legal Environment and Promote the Development and Expansion of the Private Economy

Continuously Optimize the Legal Environment and Promote the Development and Expansion of the Private Economy

Why can􀆳t the Private Economy Retire? ———Argument for the Longevity of the Private Economy

Long-term economic growth requires the long-term presence of the private economy. For a considerable period of time in the future development of productive forces, the public ownership economy is not suitable for the public ownership economy to exist alone on a wide scale for a long period of time, and it needs a large number of private economies to form. a long-term competitive and cooperative relationship with it based on the neutrality of ownership. Because the long-term existence of the public ownership economy alone is not the only driving force for sustained high-quality economic growth. However, there are still differences in academic circles on whether the private economy should exist in the long term. This paper traces the origin of the argument of "eliminating private ownership", and clarifies that the theory of eliminating private ownership relies on Marx's assertion of the four major trends of private ownership. This paper points out one by one that each of the four major trends is inconsistent with today's economic facts, and there is no internal cause that will lead to the demise of the private economy, as described by Marx. Private ownership and social equality and narrowing the gap between the rich and the poor can co-exist. On the contrary, the public ownership economy, which exists on its own, can’t develop with high quality for a long time due to human self-interest, cognitive limitations and scarcity of resources. Critics of private ownership argue that private ownership leads to polarization of the rich and the poor, uncontrolled expansion of capital and many other problems. Even if there is a social gap between the rich and the poor, it is not necessary to solve the problem by eliminating the private economy, but can be alleviated through other systems and policies.