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《South China Journal of Economics》 2013-05
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The Empirical Research on“Wave Phenomena”and its Formation in Chinese Industries: Based on the Government-dominant Pattern

Chenxun Zhou Yingjun Sun  
At present,the "Wave Phenomena"has become one of the hottest field of economic research, w hich is also believed to be the important reason for excessive capcity. Based on the current study of "Wave Phenomena"and the fact that the government investment account for a big part of the overall investment,this paper redefines the assumed condition about the investment subject. Then it makes comparison of the enterprises investment decisions betw een the government-dominnant and market-dominant pattern w ith static gaming model under incomplete information. Afterw ards,w ith some revlated macroeconomic data,w e adopt an empirical research model to approve that the government’s excessive intervention play an important role in "Wave Phenomena"and excessive capcity. Thus,we put forward three policy suggestions so as to curb the crucial facors in the process of "Wave Phenomena". From a new perspective,this article aims to enrich the existing academic achievements and provides some new resolutions on the problem of deplicated construction.
【Fund】: 上海市教委重点学科建设项目(J50504);; 上海市社科项目(2009BJB031)的基金资助
【CateGory Index】: F812.45;F124
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