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Abstracts of Papers Published by the Faculty of Tsinghua Institute of Economics

The Seventh Issue

1. Long Denggao; Gong Ning; Meng Dewang; Institutional Innovation in Modern Public Services: Public Welfare Legal Entity Mode of Cooperation with Interested Parties – A Study Based on Chinese and Foreign Archives of Haihe River Engineering Bureau 
Economic and Social Development (No.6, 2017)
【Abstract】 The Haihe River Engineering Bureau is the pioneer in the modern dredging industry of China, and has made a great contribution to the construction of Tianjin port. Representatives from governmental departments and enterprises at home and abroad formed the board of directors and the board of councilors (as well as the advisory committee), thus establishing the nonprofit independent public welfare legal entity with open, transparent operation-mechanism. With the nature of a public welfare legal entity and the attribute of an independent property unit, the Bureau has been taking tariff surtax as a major fund source. Chinese customs was a relatively independent authority under the shared governance of China and foreign countries in modern times, and the tariff usufruct was not dominated by any authority of Chinese or foreign governments. This relative financial independence has enabled it to maintain stability and coherence in times of regime change; hence provided the Bureau with funds for business operation, as well as construction for giant projects that can benefit all parties in the entity.

2. Miao Degang; Long Denggao; The Development and Contribution of Modern Dredging Industry in China - A Study Based on Archives of the Haihe River Engineering Bureau (1897 – 1949)

Economic Observation (No.2, 2017)
【Abstract】 In modern times, flood disasters of Haihe River have not only caused great losses of life and property, but also directly affected the development of trade at Tianjin port. The Haihe River Engineering Bureau was established in 1897 under the impetus of the Qing government and foreign businessmen. Its mandate is to improve watercourses and ensure the shipping capacity of the Haihe River. The Bureau has engaged in projects changing the watercourses of the Haihe River, dredging the Dagusha waterway, and constructing diversion dikes and digging new channels. In 1913, the Bureau used dredged soil to conduct land reclamation for the urban area of Tianjin and Tianjin port, which has not only generated considerable revenue for the Bureau, but also created favorable conditions for the construction and development of the modern city of Tianjin.

3. Miao Degang; Long Denggao; Current Mechanism in Mortgage Loans for Management Rights of Contracted Rural Land and Advance Countermeasures

Zhejiang Social Sciences (No.8, 2017)
【Abstract】 The land system reform is a key part of the “supply-side structural reform” for promoting mortgage loans as management rights of contracted rural land. Mortgage loans as management rights of contracted land can not only deepen the reform on the current rural land system, but also be an effective measure to ease the shortage of rural funds. Since the 1970s, the economic circle has conducted in-depth studies on rural fund shortage issues in developing countries, and shown that insufficient guarantees have hindered formal financial institutions providing rural loans. The solution is the confirmation of rights to rural land that can be mortgaged. The article discusses the characteristics of the rural financial market and the necessity of providing rural mortgage loans. It compares land mortgage loans provided by the Farmers Bank of China in 1936; the land finance business of the Bank in 1942; and Tentative Methods for the Pilot of Mortgage Loans for Management Rights of Contracted Rural Land in 2016. It also gives advice on the implementation of mortgage loans for rural land in combination with the current land system in China.

4. Wang Yong; Deng Hanzhong; Transaction Attribute of Enterprises
Economist (No.2, 2017)
【Abstract】 Existing enterprise theory literature mainly focuses on the production and organization attributes of enterprises, but neglects their transaction attribute. We believe that enterprises are not only the participant in market transactions, but also founders and organizers, with the latter constituting the transaction attribute of enterprises. Different market forms of the transaction attribute mainly manifest as the transaction mediation attribute and transaction platform attribute. The former is the transaction attribute of enterprises in unilateral market forms, while the latter is that in multilateral market forms. The online market taking shape based on Internet technology is more of a multilateral market, and the transaction platform attribute of enterprises has become a remarkable characteristic in the network economy era. The transaction attribute theory of enterprises can bring new insights into issues such as corporate strategy and market regulation in the era of network economy.

5. Wang Shengsheng; "Holism" in Marxist Economics

Tian Fu Xin Lun (No.2, 2017)
【Abstract】 Marxist economics underscores the primacy of the contradictory movement between productivity and production relations, as well as the prescription of realistic social production relations to individual behaviors, which is a vivid expression of the holistic methodology principle. In the analytical framework established by the principle of individualism methodology in Western mainstream economics excludes realistic capitalist production relations; individual behaviors are excessively abstracted as rational and self-interested exchange activities, and interpreted in a virtual, static balanced market economy. This approach can only reflect the internal contradiction of capitalist market economy and degenerates into an ideology that upholds the conclusion that capitalist production relations are increasingly exposing its historical limitations.

6. Fan Erwei; Wang Shengsheng; The Hegemony Property of the U.S. Oil Strategy in the Middle East and China’s Coping Strategy

China Review of Political Economy (No.2, 2017)
【Abstract】 Oil, as an important strategic resource, is a primary focus of many countries. The Middle East region has long been the center of the world oil supply, where the U.S. oil regional strategy has vigorously supported the establishment and maintenance of its hegemony position. The rapid rise of China and Russia’s strong focus on energy diplomacy has posed challenges to the stability of the U.S. oil strategy in the Middle East. To maintain its control over the world’s crude oil market, the U.S. has made corresponding adjustments to its oil strategy in the region. China should make positive progress in fields of international oil production, trade and the establishment of the management system, so as to break the U.S. oil hegemony, safeguard the national energy security, and facilitate the building of a new international energy order with more fairness, justice and rationality.    

7. Chen Yantai; Wu Zhe; Fan Yancheng; Rong Ke; Studies in R&D Internationalization: Connotation, Framework and Chinese Context
Studies in Science of Science (No.3, 2017)
【Abstract】 Based on literature related to R&D internationalization published in well-known periodicals at home and abroad in the last 30 years, the article puts forward the integrated analytical framework that demonstrates the whole process of R&D internationalization, and identifies relevant research subjects of R&D internationalization, such as the motivation, conditions, location selection, path, host country embedding and its relations with the home country, knowledge transfer mechanism and performance, as well as the relations between the subjects. The article also proposes R&D internationalization subjects for future discussion in combination with new situations and the special context of China.