Lin Yifu，Member bet365 code Standing Committee bet365 code 13th CPPCC National Committee、Deputy Director bet365 code Economic Committee，Counselor bet365 code State Council，Dean bet365 code Institute of New Structural Economics, Peking University、Professor，Concurrently serves as the Dean bet365 code School of South-South Cooperation and Development at Peking University，Honorary Dean bet365 code National School of Development, Peking University, etc.，Formerly served as Senior Vice President bet365 code World Bank、Chief Economist。Elected as an academician bet365 code Academy of Developing Countries (formerly the Third World Academy of Sciences) and a foreign academician bet365 code British Academy，Obtained the Party Central Committee、The title of “Reform Pioneer” awarded by the State Council，Received honorary doctorates from 10 universities in the UK, France, the US, Canada and Hong Kong。Research field is new structural economics、Development Economics，Has published more than 100 papers in domestic and foreign academic journals，Published more than twenty books。Won the 5th and 9th Sun Yefang Economic Science Awards、The 3rd Sun Yefang Financial Theory Innovation Award、The 7th China Economic Theory Innovation Award、The Fifth Wu Yuzhang Humanities and Social Sciences Award for Excellence、The first Zhang Peigang Development Economics Outstanding Achievements Award, etc.。Representative works include "On China's Economy: Challenges"、Confidence and Stamina" "Beyond Development Aid" "New Structural Economics" "China Miracle: Review and Prospect"。

The relationship between bet365 code and market is a "worldwide problem" in economics。How does the bet365 code play a role in coordination in national economic development、Promotion to enhance market efficiency，It still causes market distortion，Worst market failure，Will greatly affect a country’s economic development speed、Economic transformation and upgrading and economic operation quality。

　　A promising bet365 code that “serves the people”

The types of bet365 code behavior can usually be divided into three types: one is "proactive bet365 code"。The bet365 code can proactively overcome market failures，Smoothing economic cycle fluctuations，Improve market efficiency，Promote economic development，Rescue the affected parties in economic development and cyclical fluctuations，Maintain normal economic operation and social development and stability。The second is "bet365 code of inaction"。The bet365 code does not take the initiative to overcome market failures and economic cycle fluctuations，Let the market run spontaneously。The third is "causing chaos for the bet365 code"。bet365 code excessive intervention in market order，Resulting in market distortion、Rent-seeking corruption、Resource mismatch、Winning income gap, etc.。What type of role does the bet365 code play in economic development，Depends on whether the bet365 code has the ability to promote coordinated economic development，It depends more on the bet365 code’s behavioral motives。

Currently，Two hypotheses of bet365 code behavior are popular in mainstream economics。The first is the "interest group theory"。The hypothesis is that，bet365 code behavior is a balance reached through competition among various interest groups。bet365 code officials’ decisions are subject to interest groups，bet365 code policies have become a tool for interest groups to safeguard their interests。For these interest groups，The smaller the number of its members, the more united it is，The greater the influence，The ability to lead bet365 code decision-making will be stronger。The result is that bet365 code decisions are based on the interests of a few，Instead of the interests of all people。At this time，If policy formulation deviates from the laws of the entire people and the market，Will lead to "chaotic bet365 code"。The second is the "personal interest theory"。The hypothesis is that，Based on the principle of personal rationality，bet365 code decision-making is mainly to meet the personal needs of decision-makers，Rather than considering the interests of all people，This may lead to inaction or disorderly behavior dominated by personal interests。But the results of the above hypothesis，Does not conform to the assumptions of mainstream macroeconomics，That is, the bet365 code is a benevolent social planner that maximizes the utility of all households。Therefore，There may be a third hypothesis about bet365 code decision-making motives，That is, "serving the people"。As early as 1944 during the Yan'an Revolutionary Base Area，Mao Zedong proposed that the fundamental purpose of the Communist Party of China is to serve the people wholeheartedly。In recent years，General Secretary Xi Jinping has also repeatedly emphasized the need to firmly establish a people-centered governing philosophy。100 years since the founding of the Party，Chinese Communists always adhere to this original intention and mission，And make it a code of conduct for Chinese bet365 code officials。This behavioral orientation and benevolent bet365 code in traditional Chinese culture、The kingly thoughts come from the same origin，Also consistent with the behavioral requirements of benevolent social planners。

Examine what motivations dominate bet365 code decision-making，Critical to understanding the relationship between bet365 code and market。For bet365 code decisions dominated by interest groups or officials’ personal interests，The bet365 code’s excessive intervention in the market will lead to rent-seeking and corruption。These two decision-making motivations are to advocate that the bet365 code’s role is limited to education、The limited bet365 code theory of law and national defense security provides a basis for behavior。But within the theoretical framework of limited bet365 code，The bet365 code lacks the initiative to overcome market failures or smooth the economic cycle，Resulting in inaction by the bet365 code。According to the "serving the people theory"，The starting point of bet365 code decision-making is the interests of the overwhelming majority of the people。In order to better satisfy people’s material needs、Needs for culture and a better life，bet365 code officials at all levels must actively overcome market failures，Promote high-quality economic development，Especially take necessary rescue and assistance measures when the economy encounters a shock，To maintain economic and social stability，This provides a behavioral basis for the theory of effective bet365 code。But，Identify what motivations dominate bet365 code decision-making from an empirical perspective，There is often a lack of unified policy indicators，Or there are differences in implementation conditions and methods in different places，Or the policy results and policy motives are mutually causal, causing endogeneity problems。Quasi-natural experiments can effectively overcome the endogeneity problem。The 2021 Nobel Prize winner in economics used quasi-natural experiments rather than randomized controlled experiments，Analysis and examination of the possible economic and social impacts of raising the minimum wage。

　　bet365 code’s experience improves the applicability of macroeconomic theory

Consumption coupon，Usually refers to the bet365 code using financial funds to distribute to the people、Vouchers for shopping and consumption in the form of equivalent deductions at relevant consumption places or on the Internet。In order to alleviate the adverse impact of the new coronavirus epidemic on economic development and residents’ lives，Spring 2020，The Department of Consumption Promotion of the Ministry of Commerce encourages qualified regions and enterprises to do so in a fair and open manner，For specific groups、Specific products、Introducing various consumer coupons in specific areas、Shopping Voucher。Since then, local governments have issued specific arrangements for the issuance of consumer vouchers，And execute it in batches。According to statistics，In March 2020, a total of 3 provinces and 8 cities in China issued consumer vouchers，Expanded to 26 provinces and 157 cities by May，By October, 30 provinces and 241 cities were involved。Visible，China’s governments at all levels have always played a leading role in the issuance of consumer vouchers，The first ones to be distributed are mostly those with large economies、Regions with strong financial strength and a high proportion of the tertiary industry。Therefore，Using the quasi-natural experiment of differences in the bet365 code’s decision-making to issue consumer vouchers after the outbreak of the new coronavirus，Can clarify the decision-making motivations of Chinese local governments。The identification of this motivation is closely related to the three characteristics of the consumption voucher issuance process。First，This policy is implemented nationwide、The goals are relatively consistent，Overcoming the problem that there are few policies that are uniformly implemented across the country at the same time；Second，Consumer voucher issuance design has strong cross-regional consistency，Overcoming the problem of different implementation efforts in different regions under the same central policy，Greatly reduces the difficulty of quantifying policy implementation；Third，The sudden nature of the new coronavirus epidemic、Uncertainty about the severity of the epidemic，Objective requirements that local governments must be in a given local industrial structure、Make relevant decisions quickly based on the interest group structure and the personal characteristics of bet365 code leaders，Effectively overcome local economic development conditions and local leaders’ personal interests、Local economic structure and interest group pattern may cause and effect each other、The problem of difficulty in reflecting the decision-making motivation of “serving the people”。

Our research findings，Neither the characteristics of local interest groups nor the personal characteristics of leaders are the decisive factors affecting the decision to issue consumer vouchers，Most affected by the epidemic、Differences in urban economic fundamentals reflected by the proportion of the tertiary industry with the largest number of employees，Is the main reason for the differences in decision-making among local governments in China。Facing the new coronavirus epidemic, a major public safety incident，Chinese local governments issue flexible and diverse consumer vouchers，Support small, medium and micro enterprises and entities in difficulty to solve their problems，Carried out a series of activities to protect people’s livelihood、Stabilize the enterprise、Specific measures to promote the economy。This research finding supports the Chinese bet365 code’s main efforts to stabilize economic development、Improve people’s living standards，The starting point of implementing the policy of “serving the people”，Therefore it is a promising bet365 code，Rather than a bet365 code that is controlled by interest groups or driven by the personal interests of decision-makers, or a bet365 code that does nothing。

Overall，Research on bet365 code behavioral motivations，In addition to the current mainstream interest group theory、Personal interests theory，The theory of serving the people should also receive the attention of the academic community，And carry out more empirical research。These studies will have an important impact on macroeconomics。Because modern macroeconomic theoretical models generally assume benevolent social planners，Only on a micro level, it is people-centered、Motives for bet365 code decision-making to serve the people，These macroeconomic theories have better applicability。