英美概况British economy Part2

1、单击此处编辑母版标题样式单击此处编辑母版文本样式第二级第三级第四级第五级* CHARPER 4 曹秦静雯 19系 BRITISH ECONOMYPART 2 Britains Economic System: A Unique Mix3.ECONOMIC INSTITUTIONS Limited Liability Company “Ltd Significance:1.Treated as a “legal person；2.Abide by(依从) the obligations(责任) imposed by the British Company Act；3.Can pursue bus

2、iness interests globally if registered with the nations commercial authorities. Britains Economic System: A Unique Mix Parliament reserves the right to pass legislation; issue regulations controlling/influencing production/consumption; implement tax changes and spending programs; influence monetary

3、policy; nationalize resources or industries.3.ECONOMIC INSTITUTIONS Britains Economic System: A Unique Mix3.ECONOMIC INSTITUTIONS Political parties and the press political parties: the electorate exerts David Cameron Gordon Brown Nick Clegg its wishes concerning government economic activity via it.

4、the press: keeps the electorate informed on economic affairs and matters of policy. 工党 保守党 自由民主党 Britains Economic System: A Unique Mix3.ECONOMIC INSTITUTIONS Interest groups Example: CBI (Confederation of British Industry英国工业联盟) represents employer interests in consultations with governmentofficial

5、s, which cover matters of economic importance including taxation and spending programs; assists employers in their negotiations with trade unions which enjoy rights to bargain collectively on behalf of their members; other interest groups are free to organize and work to influence politicians and po

6、licy. Britains Economic System: A Unique Mix3.ECONOMIC INSTITUTIONS International agencies EU (including the European Parliament and the European Central Bank) OECD (Organizations for Economic Cooperation and Development) IMF (the International Monetary Fund) WTO (the World Trade Organization)Britai

7、n: increasingly subject to economic and trading rules promulgated by these agencies.Today: There are but a few institutions shape the British economy, addressing difficulties, resolving disputes, and solving technical problems. Britains Economic System: A Unique Mix4. STATE ENTERPRISESIn the early e

8、ighties: began to privatize under the Thatcher government, continued and expanded, resulting in income for the government. The government has benefited a lot from it. Note: the health care industry remains largely a state enterprise though liberalization(自由化) is also under way.Today: privatization s

9、een by the government as a restructuring opportunity and source of fund. privatization: a worldwide phenomenon.Britains experience: neither so radical(根本的) nor so heroic as the experiments in Russia. Britains Economic System: A Unique Mix4. STATE ENTERPRISESHow did Britain implement(执行) privatizatio

10、n? With a well-organized stock market, a historical experience with markets, Limited Liability Companies, and a competitive private sector. Britains Economic System: A Unique Mix A regulation environment has been implemented.e.g. Producers are forced toward the goal of environmental protection; firm

11、s must abide by pollution control regulation. Consumer Expenditure P124 Table IThe whole kingdom: less than half of their spending: housing, utilities(家用品), food and clothing. 1/6 income: leisure goods and services.Also there are regional differences. Conclusion: high standard of living. Industrial

12、Structure and OutputP124 Table JManufacturing and financial services: characteristically strong.London: Primary output is relatively little; makes a disproportionate contribution in financial services; one of the worlds strongest financial centers. International Trade Britain has grown and prospered

13、 as a trading country. In the past two decades: reorient(重新定向) its industry. Causes: 1. the ascent(上升) of Britains oil industry after production began in its North Sea district; 2. the growing importance of trade with Europe; 3. a perceived loss in overall competitiveness for British manufacturing.

14、Probably the most important of these ,especially in the modern period of EU membership, is that continental Europe is its nearest, largest, and richest trading partner. International Trade Past few decades: exported about 30% of its GDP.In the past decade: rising slightly but steadily.Service export

15、s: grown markedly.Commodities: stable. Manufactured goods dominate the commodity stream, taking up around 80% of commodity export value.Fuel: cycle a bit, hitting 14% in the early eighties, abating to about 7% through the nineties.EXPORTS International Trade Hard to say. Exports of finished manufact

16、ures have remained strong over the years, so it is hard to tell the overall competitiveness.P125 Graph Change markedly over the years.Food, tobacco and beverage & Basic materials: decline. Finished manufactures: growing. a sign of lost in competitiveness?IMPORTS International Trade TRADE BALANCEOver

17、all trade balance: a slight deficit(赤字).An overall surplus(剩余) in services trade. An overriding deficit in trade goods. International Trade Britain: seen as a relatively small, open economy; had little control over the prices at which it sells; (traders had considerable pricing power during the Peri

18、od of Empire) over half exports went to other EU countries and more imports came from the EU in 2007; still maintain a significant global presence in transportation, finance, computer and IT, scientific instruments and engineering products. PRESENT SITUATION Taxation and Public SpendingP127 Table LT

19、ax relies heavily on household income taxes.Total revenues(税收) have grown steadily in the past two decades.There is a general satisfaction with tax system. TAX PROGRAME Taxation and Public SpendingNATIONAL GOVERNMENT SPENDINGP127 Table M Spends much( almost 60%) on social security( pensions and surv

20、ivors benefits), health( the nationalized health care providernetwork), education and science( public schools and support for higher education), and defense. Taxation and Public SpendingP128 Table NThe sum is 1/4 as much as national government spending.Education and Social Services: almost 60%.Polic

21、e, fire and courts: about 18%. LOCAL GOVERNMENT SPENDING Economic Policy According to the policy: (neat and tidy) Logic, fiscal(财政的), and monetary controls can promote full employment, highincomes, price stability and stable growth.monetary and credit policy: used to control interest rates, prices a

22、nd exchangerates. Ideal process: exchange rates problematiccurrency officially revalued or floated the value of currency related to other currencies conform more closely to market forces of supply and demand.KEYNESIAN(凯恩斯的) COUNTERCYCLICAL(逆周期性的) ECOMOMIC POLICY (19461982) Economic Policy fiscal pol

23、icy( taxation and public spending): tuned(调整) to achieve full employment and balanced trade. Ideal process: at full employment trade deficits mount beyond acceptable bounds weaken floating currency stimulate exports and reduce imports. particularly important industries should become compromised in t

24、he process government might opt to nationalize industries. Economic Policy cut taxes and increase spending to fight unemployment inflation(通货膨胀) worsen, currency values driven down by speculators(投机商人) raise taxes to correct the falling currency and inflation higher unemployment and recession. The P

25、eriod of Decline and Retrenchment (19441989) TROUBLES IN REALITY Economic Policy凯恩斯主义也称“凯恩斯主义经济学是根据凯恩斯的著作?就业、利息和货币通论?的思想根底上的经济理论，主张国家采用扩张性的经济政策，通过增加需求促进经济增长。 即扩大政府开支，实行财政赤字,刺激经济,维持繁荣。凯恩斯认为对商品总需求的减少是经济衰退的主要原因。由此出发，他认为维持整体经济活动数据平衡的措施可以在宏观上平衡供给和需求。凯恩斯主张国家干预经济、刺激有效需求，加强宏观需求管理，以实现充分就业和经济增长。?通论?对第一次世界大战后资

26、本主义国家的经济政策有重要影响，凯恩斯的追随者竭力把?通论?提出的政策建议具体化，并特别强调财政政策的作用。他们以调节社会总需求包括消费、投资、出口、政府对货物和劳务的购置、实现经济稳定增长为目标，提出在萧条时期要减低税率、增加政府开支实行赤字预算、增发公债、增加货币供给量、降低利率等以刺激投资和消费；在高涨时期那么提高税率、控制政府开支、控制货币供给量增长、提高利率等，以遏制投资和消费。经过凯恩斯主义者的鼓吹和影响，战后许多资本主义国家纷纷把充分就业和经济增长作为政策目标，推行上述凯恩斯主义的财政金融政策。这些政策虽然在战后5060年 代对刺激经济增长、缓和经济危机、减少失业起了一定的作用，

27、但由于它没有也不可能解决资本主义所固有的根本矛盾，财政赤字、通货膨胀有增无已，而危机和失 业并未消除，终于到70年代初出现了物价高涨和大量失业并存的“滞胀见停滞膨胀。 Economic PolicyCHANGEBegan when Margaret Thatchers government came to power in 1979.Solutions: at first involved Monetarism(货币数量说),using the money policy to control inflation and “fiscal conservatism(保守，稳健) to balanc

28、e the budget. flexible exchange rates in place.Aim: let the economy adjust to three imperatives(规那么): stable prices, balanced budget and floating currency. Economic Policy Immediate outcome: recession. In time: economic accommodation. Slowly but surely: economy has adjusted. policy of privatization

29、formulated and implemented. The Thatcherites(撒切尔夫人的支持者) envisioned(预想) prosperity featuring much less governmental intervention in markets. RESULT Economic PolicyA POLITICAL-ECONOMIC DOCTRINE(学说) “supply-side economics(供给经济学) America, 1982 Based on tax cuts, reduced governmental influence and greater trust in the market system. provided a logic framework for Thatcherism(撒切尔政策); attack social problems( like unemployment, inflation and falling exchange rates) with “privatization and “stimulants to private investment. Arthur Betz Laffer Robert Alexander Mundell Economic Poli