A Eurasian (or a Soviet) Union? Consequences of further economic integration in the Commonwealth of Independent States

On January 1, 2012, the Customs Union of Belarus, Kazakhstan, and Russia took a big step in regional integration by removing all barriers to trade, capital, and labor movements between the three countries. Policymakers have signaled that even this landmark step is merely a way station en route to a comprehensive ‘Eurasian Union’ by 2015. However, is this idea of greater integration a good one, and if so, what shape should the integration take? This article examines the opportunities and challenges for both deeper (i.e., more intensive) and broader (i.e., more inclusive) integration in the Eurasian space and concludes that greater integration will work for all only if it is based on fostering the trade liberalization that has been missing from the region. Moreover, including Ukraine is not necessary for the integration to succeed, but Central Asian nations should be encouraged to follow the example of a liberalized Eurasian Union. Acting as the European Union did in the post-war era, the Eurasian Union could help member countries take the liberalizing steps they could not take on their own.     

金融危机形势下中俄经贸合作的新思路

金融危机使中俄两国的对外贸易和整体经济都爱到了很大影响,尤其是俄罗斯经济已出现衰退迹象。在这艰难时期,中俄两国是为短期利益而实行贸易保护政策,还是共同携手,密切合作,共同应对危机已成为决策者的重要课题。本文认为,中俄面对金融危机不应各自为战以求独善其身,而应更加密切地进行贸易与投资领域的合作,尽快启动区域自由贸易安排谈判,尽早实现贸易自由化和投资便利化,强化贸易互补和投资互动,调解各自的供求平衡,减轻各自的危机压力,争取双赢的经济效应。     

试析后危机时代中国企业对俄贸易战略

长期以来,中国和俄罗斯都以良好的政治基础为依托,以相互毗邻为天然契机,发展互补性极强的双边经济,这种发展态势让两国在收获双赢的同时更看到了继续发展的巨大潜力。然而俄罗斯在金融危机的猛烈冲击下,为求自保对中国的贸易采取了种种措施,如通过调升关税限制中国产品进入俄罗斯本土、歧视俄市场上的中国产品、对华采用反倾销手段等,这一系列的做法给中俄经济带来不小的冲击。但近些年来,中俄双方已经充分认识到对方对彼此经济的发展以及人民生活的重要性,中俄政府双方都以积极的态度应对两国的交流与合作,两国在多方面、多领域进行交流,主要以政治、经济和文化三大主线为走向,同时两国政府也提供政策来最大限度地促进了两国的贸易合作。     

中国出口贸易增长方式与可持续发展的思考

从1978年贸易总额206亿美元骤升至2005年的14 221亿美元,中国的对外贸易快速增长,但连续11年,中国遭遇的贸易摩擦均居世界第一。贸易摩擦发出强烈的警示:出口贸易应当从国内经济的薄弱环节着手,克服自身问题,建立起中国可持续的贸易增长模式。具体措施是:转变以数量增长为主导的旧有模式,代之以以质取胜、以效益为先导的贸易增长模式;加强出口产品的科技含量、增加服务产品的出口;注重资源的节约利用和环境的保护;提高出口企业的人力资本教育和福利,保持出口企业的可持续发展。     

中美贸易战背景下加强陆上贸易通道建设的思考

在中美贸易战背景下,加强陆上贸易通道建设有利于中国对外贸易进一步发展。在分析加强陆上贸易通道建设背景及意义的基础上,阐述了中国陆上贸易通道建设发展的现状及其存在的主要问题,进而提出了高度重视西部贸易中心作用、打造更高质量的陆上贸易通道、深化改革开放力度加快\"走出去\"步伐、提高企业竞争力重视专业人才培养等对策建议。     

中俄边境贸易存在的问题与对策探讨

边境贸易是中俄经济贸易合作的重要组成部分,近年来,中俄边境贸易发展很快。这既是中俄战略伙伴关系建立与发展的结果,也是中俄经贸合作未来的发展方向之一。解决边境贸易中存在的问题,对中俄两国贸易的发展具有一定的积极影响。     

Markets and managerial discretion: Tooth & Co., 1970–1981

Studies of business have often sought to explain features of management activity, particularly labour management activity, with reference to the product market conditions faced by managers. This paper argues that a more nuanced understanding of management can be gained by examining both the product and financial market environment. These conditions influence the structuring of management and the development and application of managerial policy. This paper examines the management, particularly the labour management, of one of Australia's leading companies during the twentieth century. Specifically it examines how the product and financial market environment faced by this company in the 1970s influenced the labour management strategies pursued. It shows that particular market conditions will privilege or provide justification for certain types of labour management activity. This is illustrated by examining this company's operation under two distinct sets of market conditions.     

欧元美元金融大战鹿死谁手

欧元这种新币种自诞生以来,普遍受到人们的关注,其存在对于世界主要储备货币和结算贷币美元来说是个重大挑战。事实上,第二次世界金融大战外围战已经爆发,但欧元、美元大战鹿死谁手,还不得而知。     

中美贸易摩擦中的经济民族主义分析

随着中国国际贸易地位的提高,中美贸易摩擦日益频繁,企业遭受的损失越来越大,其中美国经济民族主义的回潮是一个重要的原因,也是后WTO时期中国对外开放必须直面的问题.美国经济民族主义的根源和其在中美贸易中的表现,兴起原因,其种种现象在中美经济关系中具有客观性和必然性,对此,中国政府和企业应采取应对的策略.     

黑河口岸对俄贸易发展中存在的问题及对策建议

从1987年黑河口岸打开了终止20年的对苏边境贸易大门开始,其对俄贸易规模持续扩大,进出口商品结构日趋合理,但总体对俄贸易规模仍较小,还存在地区产业结构不合理,对俄贸易自主性有限且渗透程度低,基础设施建设薄弱,对俄经贸合作软环境较差等问题。提出加快黑河产业结构优化升级,培养优势特色产业,完善口岸通道布局与功能,优化对俄经贸软环境等推动黑河口岸对俄贸易的对策建议。     

Can the Regional Comprehensive Economic Partnership minimise the harm from the United States–China trade war?

Using ex post tariff schedules for the first time, it was found that the global gains provided by the Regional Comprehensive Economic Partnership (RCEP) are not enough to overcome the negative impacts of the United States–China trade dispute. While trade tensions cause China's welfare loss to be more than twice as large as the United States, they provide some trade diversion to RCEP members. But of concern is if India successfully delays the conclusion of the RCEP even by a year, there will be a global loss of US$17.7 billion. The RCEP is also beneficial for the emerging economy of Vietnam and the high‐tariff‐imposing Korean economy. The results obtained here are, however, conservative as reduction in non‐tariff barriers and other positive spillover effects of trade liberalisation related to investment and productivity improvements due to competition or increased intra‐industry trade could not be accounted for.     

融资约束抑或代理冲突?上市公司非效率投资动因研究

本文利用投资价值效应的一般原理对我国上市公司的非效率投资产生的原因及其表现形式重新进行了审视和研究.研究发现,无论是国有控股公司还是非国有控股公司,公司经营业绩均与其投资支出呈现出倒U型的曲线关系,且投资支出比例分别在0.47727和0.36971时公司经营业绩达到最高.倒U型曲线关系表明我国上市公司的非效率投资既包含投资不足,又存在过度投资,因而是融资约束和代理问题共同作用的结果.     

‘Credit Constraints and Determinants of the Cost of Capital in Vietnamese Manufacturing’

This paper examines the extent to which borrowing constraints restrict firm access to credit and identifies individual, firm, and loan characteristics, which determine the cost of capital in Vietnamese manufacturing. Using direct information from a Vietnamese enterprise survey the paper shows that between 14 and 25% of the enterprises are credit constrained, and these enterprises would increase their debt holdings by between 40 and 115% if borrowing constraints were relaxed. Moreover, it emerges that informal credit markets play an important role for fast growing firms. Enterprises do not appear to have the necessary time to go through the many administrative difficulties in the formal credit system if they want to “seize the day”. Finally, collateralized loans face larger interest rates, explained by the significant influence of “policy lending” in Vietnamese credit markets.     

中俄贸易浅析

随着俄罗斯经济的复苏和中国经济的高速增长,近年来中俄双边贸易持续升温,但也暴露出许多不完善之处。本文首先对开展中俄贸易的有利条件进行阐述,然后对中俄贸易存在的问题进行分析,最后提出解决问题应采取的对策。     

金融市场中的机构投资者行为研究

机构投资者作为金融市场中的主要参与者 ,是推进证券市场市场化的核心。成熟的资本市场经验表明 :资产管理机构化趋势越来越强 ,机构投资者的重要性不断增长。对于我国证券市场来说 ,超常规、创造性地培育和发展机构投资者是我国证券市场不断完善和深化、最终同国际化接轨的重要推动力量     

Friends like this: The impact of the US–China trade war on global value chains

This paper considers the indirect impact the recent tariff increases between the United States and China can have on third countries through links in global supply chains. We combine data from input–output relationships, imports and tariffs, to calculate the impact of the tariff increases by both the United States and China on cumulative tariffs paid by third countries. We show that the tariff hikes increase cumulative tariffs for other countries and thus hurt trade partners further downstream in global supply chains. We also show that this is particularly important for tariff increases on Chinese imports in the United States. These are likely to be used as intermediates in production in the United States, which are then re-exported to third countries. The most heavily hit third countries are the closest trade partners, namely the EU, Canada and Mexico. We estimate that the tariffs impose an additional burden of around 500 million to 1 billion US dollars on these countries. China's tariffs on US imports have less of an effect.