全球金融资本主义

2013年，全球经济的最大亮点是金融市场高歌猛进、连创新高，虚拟经济完全脱离实体经济暴涨。金融危机5年来，多数国家不仅股价陕速上涨，超越危机前水平，屡创新高，而且全球影子银行业务迈人快速复苏轨道。     

The global macroeconomics of NAFTA

Previous empirical studies of NAFTA have commonly used trade models that do not allow international capital flows to adjust to changes in regional trade arrangements such as NAFTA. This paper explores the dynamic implications of NAFTA with particular focus on the short-run and longer-run adjustment of financial capital. This adjustment affects the global allocation of physical capital and therefore changes the growth prospects for a country such as Mexico. Our results suggest that Mexico and the world economy gain more from NAFTA than merely a static reallocation of production possibilities. In the short run, the adjustment of financial capital affects nominal and real exchange rates. This adjustment is far more important for the short-term allocation of trade flows than partial equilibrium adjustment of trade based only on changes in long-term price differentials.     

Input specificity and global sourcing

This paper identifies a new industry-equilibrium channel through which a firm’s productivity affects its organizational choice. In a two-country model with firm heterogeneity and incomplete contracts, we show that the degree of input specificity and the hold-up friction in an outsourcing relation become a function of the final good firm’s productivity when inputs are not completely specific. We examine the implications for the equilibrium international sorting pattern of firms.     

Asia's contribution to global rebalancing

Developing Asia remains at the core of global payment imbalances. While the geographical concentration of current account imbalances is significant—with the People's Republic of China accounting for the lion's share of the region's current account surplus—how Asia contributes to global rebalancing also depends critically on the newly industrialising economies and larger Association of Southeast Asian Nations economies. Given the region's huge diversity, the necessary national macroeconomic and structural policies will vary significantly across Asia's emerging economies. Whereas near‐term rebalancing efforts will be driven primarily by macroeconomic and exchange rate policies, structural reforms are essential for boosting domestic and regional demand as sources of economic growth over medium to long‐term. We argue that regional rebalancing will depend critically on the adoption of deeper and more comprehensive structural reforms and further trade liberalisation to unlock the potential of strong domestic and regional spending—thus reducing Asia's high dependence on extra‐regional demand. Priority policies should include infrastructure spending, competition, trade, financial development, investment, immigration, and other social policies to reduce national savings.     

Forecast of global steel prices

The article presents a regression model for forecasting global average annual steel prices. As factors of price changes, we used the coefficient of load capacity of world steel plants and prices for iron ore and coking coal. On the basis of these factors, steel prices were predicted for 2010–2012.     

Commodity prices and global economic activity

Commodity prices provide useful information about current and future global economic activity. First, we show that overall commodity prices indeed tend to comove with economic activity. Second, we try to extract the global demand factor(s) using many commodity prices. While commodity prices reflect both demand and supply factors, by relying on a wide variety of commodity prices, supply shocks can be filtered out as they tend to be commodity-specific idiosyncratic shocks except for widespread supply disruptions confined to a few historical periods. In this paper, we then show that factors extracted from commodity prices movement contain useful information to nowcast and forecast global GDP and industrial production.     

ASEM and the evolving global order

Growing resistance to globalization that characterized the end of the twentieth century and, indeed the beginning of this one, is the essential context within which any analysis of the utility of ASEM should be judged. In this regard, the Asian financial crisis represented a watershed for ASEM almost before it got started.     

Liquidity traps with global Taylor Rules

An important theme in the writings of Jess Benhabib is the global stability of equilibrium in monetary economies. A key result emerging from his research is that Taylor-type interest rate feedback rules that are bounded below by zero can lead to unintended liquidity traps. The present paper shows that even if the interest rate rule is not bounded below by zero, that is, even if the government could credibly commit to a globally active Taylor rule, self-fulfilling liquidity traps cannot be ruled out. This result is shown to obtain in models with flexible and sticky prices and under continuous and discrete time.     

The black stake in global interdependence

This article first appeared in The Review of Black Political Economy, Vol 6, No. 4 (Summer 1976), pp. 408-419.     

2011全球理性饮酒日在蓉启动百威英博宣布全球理性饮酒目标百威“驾给我好吗？IDo”理性饮酒公益行动诞生第1千万名承诺者

2011年9月23日,全球领先的啤酒酿造商百威英博宣布了三年理性饮酒全球目标,以一系列具有挑战性的目标和数字,再次为倡导酒精饮料的理性消费树立行业标杆。当天亦是百威英博啤酒集团发起的第二个全球理性饮酒日,意义非凡。百威英博啤酒集团亚太区总裁傅玫凯先生亲临蓉城,     

论跨国并购的国际协调

<正> 跨国并购,自1990年兴起以来,已成为国际直接投资的主流,由于其兼具跨国投资与并购的双重特点,因而倍受各国尤其是发展中国家的关注,有关国际协调的重要性也日益凸显出来。 一、国际协调的必要性 1.跨国并购重塑了世界经济形态 根据联合国贸易与发展会议统计,1980～1999年,跨国并购以年均42％的速度增长,已经成为全球FDI的最主要方式,占其比重80％以上,近年涉及资金均高达万亿美元左右,并购案件多,金额大,电信、金融、航空等原来倍受管制以     

全球化营销理论研究

随着经济全球化和区域经济一体化的快速发展,国际经营已成为一股不可逆转的潮流。在国际营销中,究竟是选择标准化还是采用本土化方案,成为理论界和实践界一直争论的热点问题。本文从标准化、本土化营销方案提出的背景出发,讨论了这两种观点的支持性论点,解释了各自成立的假设条件和理论基础,分析了两种方案的优点和缺陷。     

全球"FTA热":态势、成因与对策

进入上世纪90年代以后,在全球范围内逐渐掀起了一场声势浩大的、通过自由贸易协定(FTA)来推进贸易投资自由化的热潮.这股"FTA热"带有明显的参与国对WTO新一轮谈判的进展和成果日渐失望的味道.它的不断升温,还会对WTO在全球贸易投资自由化方面的机能和作用造成损害.这对刚刚加入WTO的中国来讲,必须予以高度关注和谨慎应对.     

全球变革中的中国金融

金融危机加剧世界格局变化和国际战略调整,21世纪是全球化和多极化的世纪,是创新、竞争和民主的世纪,是新国家主义盛行的世纪,美国仍将是最强大的国家。中国需要在大历史、大变革、大挑战的国际背景中思考发展战略,需要加快发展现代金融,建立现代金融体制,提高核心竞争力。     

全球化背景下我国跨国企业的本土化管理

随着经济全球趋势的不断加强,我国越来越多的企业走出国门,到境外开办企业,从事生产和贸易,但是我国企业在跨国经营中遇到了各种矛盾和问题,尤其是文化冲突。本文主要从中国企业境外经营的现状出发,来探讨我国企业跨国经营中遇到的文化冲突等问题,提出全球化背景下企业跨国经营必须实施本土化管理的对策。     

全球经济危机的政治经济学解读

当前蔓延全球的经济危机依然源于世界贫富差距不断扩大导致的供需严重失衡,次贷危机只是偶然的爆发点。只要全球政治一体化依然严重落后于全球经济一体化,世界性经济危机必然会长期存在。只有不断完善新自由主义经济发展政策,加强全球治理,缩小全球贫富差距,维护全球贸易、收支平衡,世界性的经济危机才能逐步缓解。     

全球生产方式演变下的住宅产业化

本文在探讨生产方式与住宅产业化基本内涵的基础上,总结和借鉴了美、日、香港等发达国家和地区住宅产业化及其生产方式变革的经验,系统梳理了在全球生产方式演变的大环境下,住宅产业化的发展进程,进而对住宅产业生产方式的变革动力和演进路径进行了归纳和总结。