关键词：反腐力度 腐败程度 经济可持续增长
Sustainable and Steady Economic Growth under Anticorruption in China
WANG Feng， YAO Shujiea，and QU Guangjun
Summary： Empirical studies of the relationship between corruption and economic growth have different conclusions. Most studies， however， have focused their analysis on the singular relationship between economic growth and corruption， and few have paid attention to how anticorruption may affect this relationship.
In this study， we do not directly discuss the relation between corruption and economic growth. Instead， we discuss the triangular relationship between corruption， anticorruption and economic growth. This new approach not only makes a significant contribution to the literature， but also leads to some interesting and meaningful research results. We used China's anticorruption campaign as an example to construct a theoretical model describing how anticorruption might promote economic growth. We then used a panel dataset covering all Chinese regions over the 2000-2014 period to test our hypotheses and quantify the triangular relationship between corruption， anticorruption and economic growth.
We used the key word “corruption”， which appeared in Party newspapers published during 2000-2014 by the Communist Party of China (CPC) Central and Regional Committees， to reflect the effort of anticorruption. The number of Party or state officials under investigation was separated into two components： the anticorruption effort and the level of corruption. These two components and their cross terms were then embedded in an augmented production function designed for a regional economic convergence analysis.
We then used a panel dynamic analysis (GMM) approach to examine how the anticorruption effort might have affected the level of corruption and hence long term economic growth in Chinese regions. We found that the relation between anticorruption effort and economic growth was affected by the level of corruption. As a result， sustaining an anticorruption campaign reduced the level of corruption and hence raised the level of confidence for foreign and domestic investors in addition to the governing ability of the Party and the state， which were important for sustainable socioeconomic development in the long term.
This study makes two important contributions to the literature in terms of research methodology. (1) This paper studies the triangular relationship between corruption， anticorruption and economic growth from a new perspective. (2) It finds appropriate variables to represent “corruption” and “corruption and anticorruption”， enabling us to separate the effects of these two variables and their crossterms on regional economic growth within the framework of an endogenous growth model.
Our study produces three key findings. (1) The relationship between an anticorruption campaign and economic growth is affected by the level of corruption. When the level of corruption is low， the anticorruption campaign can promote economic growth. (2) When the level of corruption is high and the anticorruption campaign is ineffective at containing corruption， the anticorruption campaign can have a negative effect on economic growth. However， the level of corruption in China has been considerably reduced， implying that the anticorruption effort has been effective. This explains why the anticorruption campaign initiated after the Eighteenth CPC National Congress was not the cause of the economic slowdown. (3) In the long term， continuing the anticorruption campaign may reduce the level of corruption activities， and allow free market competition to replace corruption activities as the dominant force in allocating resources， thereby promoting longterm sustainable social and economic development.
Keywords： Anticorruption Effort; Level of Corruption; Sustainable Economic Growth
JEL Classification： K42， O11， H11
姓名：汪锋 姚树洁 曲光俊 工作单位：