Although we can't simply use exchange price to evaluate the national economy, the exchange price in the real economy is an evaluation of the value of resources after all, and this kind of price information exists in the real economy in large quantities. Therefore, the basic way to obtain the shadow price is to start with the exchange price and adjust the exchange price to the shadow price. Types of Shadow Price Before determining the shadow price of a certain kind of goods, we must first distinguish the types of goods. According to the input-output type of the project, goods can be divided into foreign trade goods, non-foreign trade goods and special inputs (funds, foreign exchange, etc.). ). The import or export of a class of goods should be classified as foreign trade goods if it mainly affects the import and export level of the country; If it mainly affects the domestic supply and demand relationship, it should be classified as non-foreign trade goods. According to the specific situation of our country, the following principles should be adopted to distinguish foreign trade goods from non-foreign trade goods.
Goods whose production and use will directly affect the country's import and export shall be treated as foreign trade goods. Generally, it includes: goods directly exported, goods indirectly exported and goods imported instead; Goods imported directly and indirectly from project inputs occupy goods that could have been used for export. Non-foreign trade goods refer to goods whose production or use does not affect the import and export of the country. Goods that meet the following conditions are regarded as non-foreign trade goods:
Natural non-foreign trade goods, such as domestic construction and commerce, domestic transportation and other domestic services. Goods that cannot be exported according to national policies and laws. After adding onshore freight and trade costs, the total cost of domestic production is higher than the offshore price, resulting in export losses and inability to export, and vice versa. Special input generally refers to labor.
To sum up, the generalized shadow price includes not only the shadow price of goods, but also the shadow price of funds (social discount rate), the shadow price of foreign exchange (shadow exchange rate), the shadow price of land and the shadow price of wages.
There are three kinds of shadow price theories, one is the theory of optimal allocation of resources; The second is the theory of opportunity cost and welfare economics; The third is the theory of total income and total cost. There are two methods to calculate the shadow price, one is the whole algorithm, and the other is the decomposition algorithm. China's technical economics put forward the theory of total income and total cost and its decomposition algorithm. According to this theory and method, shadow price (domestic shadow price) consists of two parts: production price and economic effect coefficient. The production price reflects the direct cost, and the economic effect coefficient reflects the indirect cost related to the supply and demand effect. For example, the production price of one ton of coal is 100 yuan, and the economic benefit of using one ton of coal is 200 yuan, so the shadow price of coal is equal to 300 yuan. There are two kinds of shadow prices: international shadow prices and domestic shadow prices. The international shadow price is equal to the international market price multiplied by the reasonable exchange rate. Under the condition of socialist market economy, price liberalization does not mean that the price is completely free, and the highest price cannot exceed the production price and shadow price level, otherwise it will be profiteering.
Shadow price usually refers to the shadow price of a resource, so shadow price can be defined as: when a resource is in the best allocation state, its marginal output value is the shadow price of this resource.
Shadow price (ex-factory price) of directly imported inputs = CIF) × shadow exchange rate+trade cost+domestic freight and miscellaneous fees (ex-factory price)
Shadow price of direct import (ex-factory price) = FOB) × shadow exchange rate-trade cost-domestic freight and miscellaneous fees (ex-factory price)
Shadow price of inputs (ex-factory price) = market price+domestic freight and miscellaneous fees
Shadow price of output (ex-factory price) = market price-domestic freight and miscellaneous fees
Shadow exchange rate is the actual economic value of a unit of foreign exchange converted into domestic price, also known as foreign exchange shadow price. Used to convert foreign exchange into RMB in national economic evaluation. It is different from the official exchange rate. The official exchange rate is the exchange rate of RMB against foreign exchange published by the People's Bank of China on a regular basis, which is the actual exchange rate in currency exchange, while the shadow exchange rate is only used for national economic evaluation, not actual exchange.