基于展望理论的投资组合保险均衡研究

投资组合保险交易策略是在保证一定财富水平的情况下,又不失去从有利市场中获利的机会。投资组合保险者将最低要保金额作为赢得或损失的参照点,这与展望理论所描述的决策行为是一致的。文章引入展望理论的价值函数建立一般均衡模型,模型推广了Basak的一般均衡模型,使其成为一个特例;同时,模型表明投资组合保险的存在将有效地降低市场波动率,进而降低风险溢价。     

The innovation trajectory of eco-cement in the Netherlands: a co-evolution analysis

In this article, we scrutinize the innovation trajectory of eco-cement in the Netherlands by examining the innovation nexus of eco-cement manufacturers, scientists/researchers, waste producers and policymakers as part of a broader analysis of markets, policy and society, with special attention to standards and regulations. The influence of policy and innovation interactions are substantiated by policy documents, media news, patterns of eco-cement use, and in-depth interviews conducted with relevant eco-cement actors. Our analysis brings forward empirical evidence of how policymakers are involved in the innovation trajectory of eco-cement in multiple ways through building regulations, sector policies, waste policies, and science and innovation policies. Political economy aspects of regulation and innovation in cement industry (e.g. the cooperative approach of waste authorities with regard to re-use of waste, absence of policies to put a price on CO₂ emissions from cement production) are being described, together with the specificities of the cement market. Bans on the disposal of fly ash and sewage sludge resulted in the use of those materials either as a supplementary cementitious material or a fuel. Demand for green cement from is presently growing but meets with several obstacles. Carbon policies are shown to constitute a weak influence. Innovation in eco-cement co-evolved with policy, through mutual dependencies, as a theoretical finding for innovation studies.     

山西高新技术企业知识型员工创新管理与实证研究

山西省作为全国重要的能源基地,发展高新技术产业有利于转变经济增长方式,促进产业结构优化升级,实现山西经济的可持续发展,对于山西省建设国家新型能源和工业基地有极大的促进作用。本文基于对山西省高新技术开发区知识型员工工作绩效影响因素的调查,结合山西实际,提出了创新高新技术企业知识型员工管理的策略和建议。     

Reserve requirements,currency substitution,and seigniorage in the transition to European monetary union

This article considers a transition toward European monetary union that combines increased substitution of currencies and greater monetary, financial, and fiscal policy coordination. It explores how such a transition would affect national inflation and interest rates and required reserve ratios when governments depend in part on seigniorage funding for public expenditures. We find that greater coordination of policies would lead to lower inflation and interest rates but higher reserve-requirement ratios. Because higher reserve-requirement ratios could place European banks at a competititve disadvantage, we conclude that the interaction between reserve requirements and seigniorage concerns makes it less likely that the gradualist approach of the Maastricht treaty is a sustainable means of transition to European union.     

日本低碳产业国际竞争对策分析

近年来,在全球低碳经济潮流不可逆转的趋势下,日本政府在国内和国际两个层面制定了一整套策略组合,在应对能源安全和气候变化双重压力的同时,增强本国企业低碳技术的开发和部署能力,帮助企业在未来的全球低碳经济竞争中抢占先机.日本的低碳政策具有前瞻性和重大战略意义,值得研究和借鉴.     

联盟组合混沌演化模型研究

联盟组合是企业进行技术创新的有效组织形式,研究了联盟组合的复杂性特征,基于混沌理论论述了联盟组合中存在的结构分形,过程分形及功能分形,探究其演化过程的不稳定性、分岔、跃迁等过程特征。研究发现,随着外部环境和内部动力因素从弱到强的转变,联盟组合逐步出现混沌状态,而且不同影响因素的改变表现出联盟组合演化的不同结果。通过有效地控制联盟组合的影响参数,可以把握联盟组合的演化方向。     

The role of creative innovation in economic growth: Some international comparisons

For many countries, export-driven policies have thus far produced dramatic increases in real per capita income. At the same time, sustainable growth requires that technological innovation proceed at comparable rates if mutual gains from globalization are to be realized. In this paper, we derive a measure of innovation and test the extent to which institutional policy choices enhance or delay its diffusion. To do so we use a panel regression model, with data on a sample of 103 countries in different geographic regions for the 1980–2005 period. Our findings provide empirical evidence of the positive role of creative innovation in economic growth, and from which we derive several basic policy conclusions.     

产业创新系统结构模型研究

文章认为,一个国家、一个区域乃至一个企业的发展都离不开产业创新的作用。产业创新系统是不断变化的,是在动态过程中演化的。明确产业创新系统的结构及其变化,对于构建具有我国特设的产业创新系统至关重要。     

Environmental sustainability innovations in the accommodation sub-sector: Views from Lilongwe,Malawi

ABSTRACT

Rising calls on sustainable practices ignited the need for hotels to develop innovative and sustainable ideas and approached to conserve the environment. This paper examines and discusses the existence and application of innovative sustainable environmental practices within Malawi hotels. Qualitative approaches were adopted to collect the data from public and private actors in the accommodation sub-sector. The Rogers Diffusion of Innovation Theory was used to determine the most prevalent reason for adopting an innovation strategy within some of the hotels in Lilongwe. It is reviewed that to a lesser extent some hotels adopted innovative strategies in water and energy use, waste management and hotel design. The collaborative effort between the government and private sector and the strengthening of the implementation of sustainability policies is recommended to promote environmental sustainability innovation. These views have been discussed within the broader discourse on environmental sustainability and innovations within hotels, in the Sub – Saharan African context.     

The financial systems approach to development finance: Origin,evolution and prospects

This article focuses on the prospects of the financial systems approach to development finance to ensure sustainable access to financial services for microentrepreneurs. It discusses three prerequisites for the success of this approach: the continued application of financial liberalisation policies; the delivery of financial services on a commercially viable basis by emulating the successes of informal financial intermediaries in solving the problems normally experienced by the formal financial sector when serving microentrepreneurs; and the continued appropriate support from governments and the donor community. It is postulated that these prerequisites will be fulfilled, making the author cautiously optimistic that the financial systems approach to development finance will succeed in securing sustainable access to financial services for microentrepreneurs in the 21st century.     

Recent advances in energy demand research in China

The continuously accelerating global energy demand leads to increased public concern about climate change. The international community expects China, the world's largest energy consumer, to play a leading role in the energy transition, especially since the United States has withdrawn from the Paris Agreement. This special issue on “Energy Demand in Emerging and Developing Economies: Measurement, Policy Interventions and Evaluation” improves international understanding of the patterns of energy demand in China by presenting recent experimental and empirical research following the Beijing Energy Conference in 2018. The main purpose of this introductory article is to present recent research advances by summarizing new findings and insights from this special issue, combined with recent literature. It shows that China's rising energy demand and energy transition practices have led to numerous policy interventions, which provides rich observational data on behavioral change and offers an “experimental window” with large opportunities for scholars. Beyond the traditional topics of residential and industrial energy demand and its drivers, an increasing number of studies focuses on energy policy evaluation or quantify the environmental and climate consequences of energy consumption. This new line of research, supported by policy-oriented model-based quantitative analyses, experimental approaches and econometric analyses using multi-source disaggregated data, offers new insights into various aspects of China's energy demand.     

发展中国家政府如何为实现可持续增长而有所为

文章以成功实现经济持续增长的经济体为案例，试图归纳出使得经济持续增长的一般化因素。文章指出，发展中国家为实现经济增长应该有所为、制定长远的增长规划，并采取渐进式和实践性的政策措施。政府的具体战略选择包括保持高投资率、鼓励学习和创新、引导资源配置以及提供必要的保护等。     

Lead markets, innovation differentials and growth

This article suggests that the specialization of countries in international trade is determined by the lead-lag market pattern of national markets. Many internationally successful innovations have been adopted first in one country while other countries initially either preferred other designs or an established product. A model for the international diffusion of innovations is presented in which nationally preferred innovation designs compete to become a globally dominant design. In this model, there are country-specific market attributes that increase the likelihood that the choice a country makes among alternative technologies is followed around the world. It is argued that technological knowledge gaps are not the origin of an international competitive advantage. Instead, a country gains a competitive advantage because a specific innovation design was adopted earlier than in any other country. This gives local firms a head start in producing, gathering marketing intelligence and securing the property rights of a globally successful innovation. In countries with lag market characteristics, domestic innovations are less likely to get adopted worldwide. Lag markets often switch from a domestic innovation design to a foreign innovation design, which increases imports. The lead-lag market explanation of trade specialization has implications for national policies. In this model domestic innovations do not always foster exports; idiosyncratic innovations induced by lag market contexts can hamper the export chances of local firms and in the end lead to an increase in imports. It is suggested that in order to increase exports, national policies have to distinguish between a domestic lead and lag market context in each industry. While in a lead market context, traditional policy instruments that enhance the rate of innovations are effective, in a lag market situation national follower strategies are more appropriate.     

An empirical assessment of the effects of trade in innovative tasks on innovation output

Multinational firms are increasingly sending their innovative tasks abroad. This article examines whether offshoring research and development, design, and engineering activities provides any gains in terms of firm‐level innovation output. The effects of trade in innovative tasks on the probability of firms being innovative and the share of innovative product sales in total turnover are examined using an instrumental variable approach. The data in use come from a recent survey, which provides cross‐section observations for more than 14,750 firms in seven European countries. The results suggest that those firms that offshore their innovative activities are 60% more likely to successfully innovate. Also, offshoring innovative activities increases the share of innovative product sales in total turnover up to 35%. Furthermore, firms in this sample appear to gain from trade in innovative tasks when such trade is in product innovation but not when such trade is in process innovation.     

自主创新提升自主品牌竞争力的途径和策略研究

目前,我国自主品牌建设仍处于一个漫长的量的积累阶段,还没有发生真正的"质变",这需要自主创新全力提升自主品牌的竞争力。本文分析了自主创新提升我国自主品牌竞争力的有效途径,并建议从强化自主创新意识、完善自主创新机制、培育创新型人才、营造创新文化环境等方面增强企业自主创新能力,以快速提升自主品牌的竞争力。     

Technical and environmental efficiency of livestock farms in China: A slacks-based DEA approach

In the wake of economic development and raised living standards, Chinese pork consumption has risen significantly. As a response to the increased demand and active government support, the national hog sector, which was traditionally dominated by small backyard farms, is featuring a quick restructuring towards large-scale breeding enterprises. With the transformation of the hog sector, environmental externalities have become a very serious concern. Foremost non-point source pollution resulting from the leakage of pig waste into surface water and groundwater resources is seen as a serious threat. Via data envelopment analysis (DEA), we approach the question of efficiency gains from both technical and environmental perspective along a 2012 sample of 371 Chinese hog farms. Our results suggest that especially mid-size hog farms in transition face low environmental efficiency and high pollution abatement costs due to limited waste disposal options. Existent policies turn out to be yet hardly effective in decreasing environmental externalities. In some provinces, projects for rural biogas production could help to improve waste management. However, especially small farms require state support towards improving storage and transportations facilities.     

后补贴时代新能源汽车产业展望：政策梳理与技术分析

随着2023年补贴完全退出，中国新能源汽车应用推广政策从财政支持转向重点鼓励技术创新。在概述中国新能源汽车产业发展现状的基础上，梳理近年来新能源汽车相关的补贴和技术创新政策，然后使用incoPat专利数据库从多方面分析中国新能源汽车发明专利和技术创新情况。研究发现，中国新能源汽车保持迅猛发展，且在重点企业和发达地区呈现一定的产业集中度，产业政策中更为注重技术创新方面，专利申请数量稳步增长，技术创新对于市场发展有明显的促进作用。但新能源汽车技术创新也存在专利维持时间不长、市场价值不高、地区或申请人不能兼顾专利质量和数量等问题，就此提出国家细化技术创新奖励体系、各地因地制宜制定政策、领头企业示范引领等建议。     

Economic reforms and the prospect for sustainable development in Tanzania

The objective of the Macroeconomic Reforms and Sustainable Development in Southern Africa project was to facilitate the attainment of sustainable development objectives agreed at the United Nations' Earth Summit held in Rio de Janeiro, Brazil, in June 1992, in which Tanzania participated. The two natural resource-based sectors of tourism and mining were chosen for analysis. Despite the difficulty of linking policy explicitly to particular economic activity performance, macroeconomic indicators show that economic policies stimulated economic activity resulting in, among other things, a significant increase in economic growth, declining inflation, declining deficits, and an increase in tax revenue collection. The mining and tourism sectors' share of GDP increased significantly, and both sectors have contributed greatly to employment generation. However, these economic gains have come at the cost of environmental degradation, social hardship and the breakdown of social norms and values. Such results indicate that the country is not yet on a sustainable development path. While good policies exist and are being improved, there has been a failure of policy implementation over the years. With good policies, appropriate integrative strategies, commitment and political will, the country may attain a sustainable development path.     

Endogenous Efficiency Gains from Mergers

This article analyzes endogenous efficiency gains from mergers. It considers oligopolistic homogeneous good markets and duopolistic and triopolistic markets under product differentiation (PD) (quantity and price competition). In a two‐stage game, firms invest in cost‐reducing innovation (with and without mergers) and then compete in output/prices. It is found that in homogeneous good markets, all possible mergers generate efficiency gains, and that these are most significant when R&D spillovers are very low or very high. Efficiency gains increase with the number of insiders and generally decrease with the number of outsiders. With PD, in most cases, the merger generates efficiency gains when spillovers and/or PD are sufficiently high. With PD, efficiency gains increase with spillovers, but may increase or decrease with the level of PD. The implications of the results for the relationship between competition and innovation outputs and for merger policy are discussed.     

美国智能电网的低碳法律政策及启示

发展智能电网，助推低碳经济是美国当前低碳法律政策的核心转向。独立与安全的国家能源战略、能源法律制度结构的低碳化趋势和低碳电力的商业瓶颈反映了美国智能电网的制度变革需求。以政策为实体引导、法律为程序保障的美国智能电网制度供给模式的启示是：立法是前提，政府的产业监管是核心，商业模式创新是基础。