FinancialDevelopmentandEconomicGrowthViewsandAgenda外文翻译

国际服务贸易外文翻译文献(含：英文原文及中文译文)文献出处：《World Development》，2015，12（1）：35-44.英文原文The research of international service trade and economic growth theoryChakraborty Kavin1 IntroductionThe study of the relation between international trade and economic growth is one of the most active issues. Since 1980s, the world has been in transition from national economy orientating towards natural resources and manufacturing industry to global and regional economy orientating towards information resources and service industry. After the signature of GA TS in1994, the institutional arrangements on liberalizing service trade result in a world-wide involvement division and exchanges of service trade, and it is undoubtedly that the positive interaction between service trade and investment leads to economic growth. But the theoretical research on service trade lags behind practice.Is it a statistic phenomenon or a universal rule of economic growth? To approach the above two issues from theoretical and empirical perspective is of great value to policy-making.For the proposition of that "International service trade will drive economic growth". Theoretical analysis shows that although service tradeis not a direct interpretative variable to economic growth, it can effect economic growth indirectly through other growing factors and technology upgrade, but the ways and mechanisms are different in different stages. In a certain stage of economic development, service trade (including investment) will have static and dynamic effect on factors supply and technology upgrade in one county, which will lead to the domestic alteration of resources condition structure. It is the enterprises that select industry structure, technology structure and trade structure according to dynamic alteration way of comparative technology structure and trade structure, which will ultimately promote evolution of economic growth gradually. So far as operational mechanism of service trade and investment is concerned, service trade affects factors supply in one country by physical capital accumulating effect, human capital effect, technology upgrade effect, institutional transition effect, employment effect and externality of technology, then influences the upgrade of industrial structure, the upgrade of technological structure and the transition of mode of economic growth. It is obvious that dynamic effect is greater than static effect; that external effect is playing more important role than internal effect; and that technology spillover effect of foreign direct investment in service industry is greater than that of service trade in a narrow sense (including across-border supply, consumption abroad and movement of natural person).For the research of mechanism about how service trade drive economic growth. Firstly, the paper verifies the causality between service trade and economic growths concerning different economic bodies and the representative countries. The results show that there are causalities between international service trade and economic growth in the whole world, in the developed countries, in the US and in china. In the developing countries, service trade is the Granger cause of economic growth; In the whole world and the developing countries, economic growth is the Granger cause of service trade; In the US, service export is the Granger cause of economic growth, and economic growth is the Granger cause of service import. On this basis, it is concluded that the opening of service industry will benefit economic growth in one country. Secondly, in order to explore on how the service trade and investment act on economic growth, empirical studies are employed to explain the case of US and that of China. The results show that the routes by which service trade affects economic growth in the US can be rowed as follows from more significant to less: employment effect, human capital effect, physical capital effect, technology effect, institution effect. The results of empirical analysis of China can be summarized that: the routes by which service export affects economic growth can be rowed as follows: employment effect, physical capital effect, institution effect, human capital effect, technology effect; the routs by which service import affectseconomic growth can be rowed as follows: technology effect, institution effect, employment effect, human capital effect, physical capital effect; the routes by which FDI in service affects economic growth can be rowed as follows: technology effect, human capital effect, institution effect, employment effect, physical capital effect. Moreover, the effect of FDI in service is stronger than service import, and the effect of service import is stronger than service export.According to the empirical test in this paper, the conclusion can be drawn as follows: service trade in a narrow sense will have static and dynamic effects on factor supply in one country through import and export of service, FDI in service industry is one of the most important cross-border transactions and is another important channel which will affect the transition of advantages on factor supply in one country. It should be emphasized that the above-mentioned channels will have different effects on countries at different stages of economic development. Whether the roles can be brought into play or not depends on given restraints. The input output of factors themselves cannot form a clear function, but will interact together and act on economic growth hand in hand through numerous feedback chain.Chinese economy is now undergoing transformation from elementary age to middle age of industrialization. Service trade and investment in current period have both advantages and disadvantages.Based on these judgments, we propose that China should pursue a policy favoring protectionism on management of service trade and adopt relevant countermeasures as follows. Scientific development view should be formed with an eye to harmonizing development of three industries so as to lay a solid industries foundation for service trade; The strategic programming should be stipulated and the market of service trade should be opened gradually; The rule of international transfer of service trade should be mastered and environment of utilizing foreign investment on service industry should be improved.As the characteristics of the world's service-oriented economy have gradually emerged, service trade originating from the upgrading of industrial structure has developed rapidly, and the scale of service trade is rapidly expanding. From the statistical data, the total exports of world service trade rose rapidly from 365 billion U.S. dollars in 1980 to 377.779 billion U.S. dollars in 2008, an increase of 9.35 times. Compared with the trade of goods with a long history, service trade is a new form of trade. With the continuous increase in absolute size and relatively low levels, service trade has become a focus of attention in modern society.2 The impact of overall service trade on economic growthAccording to the WTO General Agreement on Trade in Services (GA TS), which was signed in 1994, trade in services includes Cross- border Supply, Consumption A broad, Commercial Presence, and naturalperson mobility. (Movement of Natural Persn) Four modes. The service trade of these four modes has completely different properties and characteristics. Therefore, it is difficult to establish a unified theoretical framework for service trade to affect economic growth. The corresponding literature is very rare. The only foreign documents are mainly Robinson et al. (2002), who simply regard service trade as a commodity. Trade, without taking into account differences in the four trade models, studied the economic growth effects of service trade liberalization using the Computable General Equilibrium (CGE) model.Using empirical methods to study the literature on the impact of overall service trade on economic growth is more, but such studies are mostly domestic scholars. Research shows that the average contribution of China's overall service trade to economic growth is 18.9%.3 Effect of Service Trade in Different Industries on Economic GrowthAt present, the literature on the impact of industry trade in service trade on economic growth is mostly concentrated in such service sectors as finance, telecommunications, and health care. These studies have basically reached a relatively unanimous conclusion that the opening of the service sector or the increase in productivity can significantly promote economic growth. . For example, studies by Beck et al. (1998), M urinde & Ryan (2003), and Eschenbach (2004) suggest that the opening of the financial sector has, to a certain extent, broken the monopoly of domesticfinancial markets and prompted the orderly competition of financial markets. On the normal development track, productivity has improved, and it has finally led to economic growth in the country. Kim (2000) studied the relationship between the development of service trade in the distribution sector and the growth of total factor productivity (TFP) using Korea's input-output data. The results show that the liberalization of service trade not only significantly promoted its own TFP. The promotion also promoted the improvement of total factor productivity in the related manufacturing sector. The total factor productivity growth brought about by service trade almost covered the entire economic sector.4 Effect of Service Trade on Economic Growth by Different Trading ModesThere are few literatures on specific transaction models and theoretical studies on the impact of trade in services on economic growth. Carr et al. (2001) & M arkusen et al. (2005) theoretically examined the commercial existence model by means of the CGE model. The impact of the trade in services on economic growth shows that the opening up of trade in services is an important source of the increase in economic welfare of a country. From the perspective of economic welfare, the opening up of trade in services is a general trend. Subsequently, the use of CGE models to theoretically examine the impact of service trade on economic growth began to prevail. For example, Rutherford et al. (2005)used the CGE model to evaluate Russia's WTO accession effects, and Ko nan &Maskus (2006) used CGE models. The potential effects of Tunisia's elimination of barriers to trade in services were studied. Their conclusions indicate that the increase in the level of economic welfare in one country can benefit from the opening up of the service market, while the elimination of FDI market access barriers in the service sector is a pattern of four trades. The most important liberalization measures are the main sources of increased welfare in a country. There are a lot of literatures on the relationship between service trade and economic growth in specific models using empirical methods. In the four modes of trade in services, commercial presence is the most important one, and from the point of view of data availability, although statistical data is still not very accurate, commercial existence of service trade is based on service industry FDI as a carrier. To achieve this, researchers can use service industry FDI data to characterize the scale of service trade in this model, and this type of trade model has received more attention. Among them, Markusen (1989) believes that the existence of commercial trade in services has two positive and negative effects. The positive effect is that competition in the service sector has led to an increase in domestic demand for the sector’s production factors, which is conducive to output growth. The effect of market size and negative effects means that the intensified competition in the domestic market of service industries has led to the withdrawal ofdomestic service-oriented enterprises from the market. The study by Markusen (1989) shows that the effect of market size after the opening of the service market far exceeds the crowding-out effect. After offsetting the crowding-out effect, it can still promote the productivity improvement of the non-service sector and further lead to the structure of domestic trade in goods. The changes, those sectors that were previously low in productivity and dependent on imports, will evolve into high-productivity export sectors, which is quite similar to the latest research findings on the interactive development of producer services and manufacturing. Hoekman (2006) and Hoekman (2006) used India as an example to examine the impact of the existence of commercial trade in services in the finance, telecommunications, and transportation sectors on the competitiveness of the goods export sector, and believe that these sectors have been liberalized. The level of soft facilities has been increased, which in turn has greatly reduced the operating costs of the downstream product manufacturing sector, which has increased the export competitiveness. With the inefficiency of the domestic service industry, the unfavorable pattern is reversed with the help of commercial presence of service trade. Feasible choice. Guerrieri et al. (2005) took the EU as the research object and analyzed the role of commercial trade in services for knowledge accumulation and economic growth. The study concluded that the openness of the service market or the relaxation of domesticservice regulations has positively promoted economic growth. It was found that the imported service items may be more able to promote economic growth than the domestic same service items due to high technological content.5 Possible Future Research DirectionsIt is not difficult to find from the above-mentioned documents that since the development of service trade started late, research on the growth of service trade began to rise gradually from the 1980s, and more than 20 years of research in this area is in the ascendant. With the further enhancement of the status of trade in services, the possible directions for future research will generally include the following aspects.From the point of view of research methodology, classification of service trade can be studied. As the theory of goods trade has gradually matured, the development practice of service trade still calls for the birth of the theory of service trade. Helpman and Markusen, international economists, expressed on different occasions that the difficulty in establishing the theoretical system of service trade lies in the fact that there are large differences in various types of service trades, and it is difficult for researchers to overcome the gap between them. Classifying service trade according to certain standards and exploring the impact of various types of service trade on economic growth is a possible direction for future research.From the perspective of the research subjects, it is possible to study China’s service trade and economic growth. China’s GDP has already ranked second in the world. However, the service industry’s added value accounted for only 40% of GDP, which is obviously not commensurate with the status of an economic power. In addition, the trade in services is still relatively small compared to the trade in goods. Under such a realistic background, what is the relationship between China's service trade and economic growth? How will service trade contribute to China's economic growth? What impact will service outsourcing have on China's economy? With China in In the next decade, how will China make service trade an engine of economic growth? From the academic point of view, economists from all countries are paying attention to China’s economic development, and China’s service trade will also be improved. It will become a research hotspot.From the perspective of research topics, it is possible to study the impact of service outsourcing on economic growth. In 2008, the scale of global service outsourcing market has reached 1.5 trillion US dollars. According to the UNCTAD (UNCT AD) speculation, the global service outsourcing market will increase by 30%-40% in the next 5-10 years.The surging service industry outsourcing is a new form of service trade. How does service outsourcing drive economic growth through employment, industrial structure upgrading, and technology spillovers?What are the differences in the impact of contracting and receiving services on economic growth in the service industry? Research on these issues will start with the development of service outsourcing to important theoretical guidance.中文译文国际服务贸易与经济增长理论与实证研究Chakraborty Kavin1 引言国际贸易与经济增长始终是国际经济学最生动的论题之一。

西藏金融与经济发展现状及实证分析肖彩波;刘红卫【摘要】现有研究表明,金融发展与经济增长之间有密切的促进关系.选取“金融相关率”和西藏GDP分别作为地方经济发展和金融发展指标,通过实证分析发现:西藏金融业发展对促进西藏地区经济发展的效果比较显著,且还有很大的上升空间.因此,西藏地区应充分利用国家的特殊优惠金融政策,采取切实有效的措施增强资金筹集能力,加大对中小企业的信贷投入,并降低社会融资成本,刺激社会对金融的供给和需求.【期刊名称】《西南交通大学学报（社会科学版）》【年(卷),期】2014(015)006【总页数】5页(P73-77)【关键词】经济增长;金融结构;区域经济;西藏地区;产业结构【作者】肖彩波;刘红卫【作者单位】西藏大学经济管理学院,西藏拉萨850000;西藏大学理学院,西藏拉萨850000【正文语种】中文【中图分类】F832.7对世界各国金融与经济之间关系的研究表明，金融发展与经济增长之间具有一定的相关性。

早在20世纪初，Schumpeter就提出了银行可通过为企业提供资金，帮助其完成技术创新和生产力的提高，进而促进企业和地区经济增长〔1〕。

20世纪50年代，国外经济学家对金融与经济发展的关系作了大量研究。

Patrick提出了著名的Patrick假说，他把金融与经济发展的关系分为需求跟随模式和供给导向模式，认为发达国家更多地表现为需求跟随模式，即金融发展伴随着经济增长;而发展中国家则更多表现为供给导向模式，即金融发展推动了经济增长〔2〕。

Woo S．Jung利用实证分析验证了金融发展与经济增长之间的关系〔3〕。

Ross Levine总结了关于金融发展与经济增长之间关系的不同观点〔4〕。

Levine和Zervos对金融发展与经济增长的相互关系进行了系统研究，他们通过对1976～1993年间42个国家的金融行业与经济增长相关数据的研究，发现银行业和保险业与经济增长之间有显著的正向关系，而股市与经济增长之间的关系并不稳定。

专有名词英文翻译保险业The insurance industry保证重点支出Ensure funding for priority areas被兼并或挤掉annexed or forced out of business补发拖欠的养老金Clear up pension payments in arrears不良贷款Non—performing loan层层转包和违法分保Multi-level contracting and illegal subcontracting产值output value城乡信用社Credit Cooperative in both urban and rural areas城镇居民最低生活保障A minimum standard of living for city residents城镇职工医疗保险制度The system of medical insurance for urban workers抽样调查data from the sample survey出口信贷Export credit初步建立社会主义计划商品经济新体制。

to establish at a preliminary level a new system of socialist planned commodity economy.贷款质量Loan quality贷款质量五级分类办法The five-category assets classification for bank loans第二产业secondary industry第三产业tertiary industry第一产业primary industry独资企业wholly foreign owned/funded enterprise发电量electric energy production发挥市场的调节作用to give play to the regulatory role of the market发展过快excessive growth防范和化解金融风险Take precautions against and reduce financial risks防洪工程Flood-prevention project非法外汇交易Illegal foreign exchange transaction非公有成分non-public sectors非贸易收汇Foreign exchange earnings through non trade channels非银行金融机构Non-bank financial institutions费改税Transform administrative fees into taxes分配形式forms of distribution风险资金risk funds副业sideline production改革是社会主义制度的自我完善和自我发展。

金融发展英语The rapid growth of the financial sector has been a catalyst for economic prosperity. It offers a myriad of opportunities for investment and wealth creation, transforming the landscape of economies worldwide.Innovations in fintech have made financial services more accessible and user-friendly. Mobile banking, online trading, and digital wallets have reshaped the way we interact with money, making transactions seamless and efficient.However, with the rise of financial development comes the need for robust regulatory frameworks. Ensuring stability and preventing financial crises is crucial for sustaining growth and protecting consumers.Education plays a pivotal role in harnessing the benefits of financial development. A financially literate populationis better equipped to make informed decisions, contributing to a more stable and inclusive financial system.Looking ahead, the integration of sustainable finance practices is imperative. Aligning financial growth with environmental and social goals will pave the way for a more equitable and resilient future.In conclusion, the evolution of the financial sector is a testament to human ingenuity and economic progress. As wenavigate the complexities of this dynamic industry, it is essential to remain vigilant and adaptive to the ever-changing landscape.。