推动中国与东盟经贸合作：模式与路径

<正>“一带一路”倡议的提出,为推动中国与东盟经贸合作纵深发展创造了良好的条件。如何创新中国与东盟经贸合作模式,实现中国与东盟经贸的高质量发展,具有现实指导意义。近年来,中国与东盟及其成员国就增进合作不断达成新共识,双方经贸合作快速增长。共建“一带一路”倡议的提出,为推动中国与东盟经贸合作不断站上新台阶创造了良好条件。     

“一带一路”倡议如何保障数字经济国际投资合作行稳致远？——基于数字互联互通的中介作用研究

本文以2000-2021年中国A股上市公司为研究样本,运用中介效应模型,从信息不对称视角考察了“一带一路”倡议对数字经济国际投资合作的影响及其作用机制。研究结果表明：“一带一路”倡议实施显著促进了数字经济国际投资合作,该结论在经过一系列的有效性和稳健性检验后仍然成立,数字互联互通可能是其关键作用机制。此外异质性分析发现,从区位特征区分考察,“一带一路”倡议更显著地促进投资风险较低的沿线国家,且对亚洲国家的投资存在更显著的促进效应;从企业投资存续类型区分考察,“一带一路”倡议对持续投资和投资进入的促进效果更好,对投资退出不存在显著的促进效应。本文丰富了数字经济国际投资合作领域的研究内容,对“一带一路”倡议的高质量发展具有一定参考价值。     

“一带一路”倡议对沿线国家政府债务的影响

当前共建“一带一路”进入高质量发展阶段,可持续性问题成为其内在核心.在此背景下,科学有效探讨“一带一路”倡议对沿线国家政府债务影响对于推进“一带一路”可持续发展具有重要意义.本文以2006-2018年世界范围内150个国家(地区)的数据为样本,以合成控制法为工具,探究了“一带一路”倡议对沿线国家的政府债务影响.结果 表明:“一带一路”倡议显著降低了沿线国家的政府债务;异质性分析表明,“一带一路”倡议对中低收入与低收入国家政府债务的削减作用更大,且政府债务削减作用在21世纪海上丝绸之路沿线国家强于丝绸之路经济带沿线国家;具体国别分析结果同样支持了“一带一路”倡议对沿线国家政府债务负担的减轻效应;进一步从贸易和投资层面探索“一带一路”倡议对沿线国家政府债务削减效应的重要影响渠道发现, “一带一路”倡议通过促进沿线国家出口贸易和吸收外资的渠道有效降低了政府债务.本文研究结论对于继续推进“一带一路”高质量发展具有重要指导意义.     

“一带一路”倡议下的中国与阿塞拜疆经贸合作

<正>在“一带一路”倡议下，加强中国与阿塞拜疆的经贸合作，对阿塞拜疆外贸结构由单一能源出口型向复合型转型，由低速发展到高速发展，具有里程碑式的推动作用。2013年，习近平主席在出访哈萨克斯坦和印尼期间第一次提出了“一带一路”倡议，作为一个开放包容、互惠互利的经济合作和政治文化交流（全球化）模式，共建“一带一路”已得到广泛认同，成为深受欢迎的国际公共产品和国际合作平台。截至目前，中国已经同151个国家和32个国际组织签署200余份共建“一带一路”合作文件。中国与阿塞拜疆自1992年4月2日建交以来，两国关系发展平稳，领导人互访次数不断增加，高层和普通民众之间的信任也在逐渐强，经济贸易合作往来也因此得到逐步推进。     

“一带一路”倡议及商业银行转型发展

“一带一路”倡议是我国新时期对外开放的重要举措,同时是商业银行转型发展的新契机.“一带一路”倡议下我国商业银行面临着发展新机遇,但从国际化、管理能力、产品创新三个层面来看,“一带一路”倡议对商业银行的需求以及商业银行自身存在许多不足之处.因此,商业银行应进行有效的战略与转型以助力“一带一路”倡议的完美实现.     

江西如何拓展对俄贸易

<正>在共建“一带一路”倡议下，江西应依托自身的区位优势、资源优势和产业特色，进一步加强和深化对俄贸易，实现优势互补、互惠互利，推动双方经济的繁荣和共同发展。“一带一路”倡议旨在推动沿线国家的经济合作与发展。在当前的经贸形势下，作为“一带一路”沿线省份之一，江西在发展与俄罗斯贸易方面面临着一系列的新机遇。就贸易规模而言，随着“一带一路”倡议的深入推进，江西与俄罗斯之间的贸易额逐年增长。2022年1-10月，     

“一带一路”的动机、挑战分析

一带一路旨在借用古代丝绸之路的历史符号,高举和平发展的旗帜,积极发展与沿线国家的经济合作伙伴关系,共同打造政治互信、经济融合、文化包容的利益共同体、命运共同体和责任共同体。它是促进共同发展、实现共同繁荣的合作共赢之路,是增进理解信任、加强全方位交流的和平友谊之路文章将从实施一带一路倡议的动机和面临的挑战方面进行分析,为更好的推进一带一路倡议提供借鉴。     

“一带一路”视角下海西州涉外经济问题探讨

“一带一路”是2013年国家提出的重要战略举措,海西州在深度融入“一带一路”建设的过程中,充分依托资源禀赋和柴达木循环经济实验区产业、技术优势,加大与沿线国家的经贸交流,外贸发展趋势良好。本文从海西州外向型经济发展现状入手,分析“一带一路”倡议对海西州涉外经济发展带来的影响,提出促进涉外经济稳健增长的对策建议。     

“一带一路”倡议与中国出口国内附加值跃升

本文以2007—2019年中国与61个经济体在35个行业维度的贸易数据为样本，采用双重差分法检验“一带一路”倡议的推进对中国出口国内附加值的影响效应，并对其内在机制进行探究。主要结论是：首先，“一带一路”倡议显著促进了中国出口国内附加值提升，在经过平行趋势检验、PSM-DID等多重稳健性检验后，结论依然成立。其次，“一带一路”倡议主要通过降低贸易成本和吸引外商投资两个渠道对中国出口国内附加值产生积极影响。最后，拓展性分析结果表明，倡议对中国出口国内附加值的促进效应并未集中于基础设施建设等重点行业，而是相对均衡地推动了各行业的出口国内附加值提升。此外，“一带一路”倡议还显著促进了沿线国家出口国内附加值的创造。本文丰富了“一带一路”倡议经济效应的研究，为依托“一带一路”倡议实现我国出口国内附加值跃升、构建互利共赢的产业链供应链合作体系提供了有益启示。     

“一带一路”倡议下建设银行实践支持企业“走出去”国际融资业务发展思考

当前,“一带一路”倡议已成为我国开展对外合作的重要渠道,是我国对外最靓丽、最具代表性的政治名片,得到国际社会的高度关注和充分肯定。建设银行作为国有大型商业银行,响应“一带一路”倡议,支持企业“走出去”是义不容辞的政治责任和社会担当。本文着重阐述了“一带一路”倡议下建设银行发展国际融资业务的重要意义,分析了当前面临的机遇和挑战,并有针对性地提出了政策建议。     

教育与资本怎样的前景怎样的现实

来自政府的声音: "动员各种社会资源,发展教育" 此次论坛上财政部长助理张少春的发言是最受关注的发言之一.他的演讲传达出的信息有这样几方面:第一,谈到现实,他认为全社会对教育的巨大需求与我国公共投入不足已成为我国教育事业发展的突出矛盾.近年来,以公共部门投入为主,多渠道筹措教育经费的教育投入机制成为解决这一问题的重要途径,也使得公共部门与私营部门在教育领域的合作日益密切.第二,谈到前景,他认为,1.中国经济持续、快速的增长对高技能人才产生巨大的需求,这为私营部门的参与提供了广阔空间.2.随着公共财政职能的不断完善,财政资金将在各项教育事业中重新进行分配,进一步优化财政支出结构,提高资金的使用效率.在"十一五"期间,我国将把公共支出的重点转移到农村.我们将逐步把全体农村适龄儿童的义务教育全部纳入公共财政体制.     

Debt and Taxes and Uncertainty

With a graduated personal tax schedule, Miller showed that there could be an equilibrium debt supply for the corporate sector as a whole. In the presence of uncertainty there is also a unique debt/equity ratio for each individual firm, and this ratio is related to the firm's operational risk characteristics. However, if firms merge and spin off in response to tax incentives, the identity of firms is ambiguous and only the corporate sector is a meaningful construct. These arguments are developed in both discrete and continuous models that employ extensions of the arbitrage-free pricing theory.     

East and west and north and south : A preliminary model

The Brandt report and other proposals for a new North-South world order continue to be the focus of lively debate, yet it is often argued that little concrete has emerged from their recommendations. A major reason for this, the author argues, is that the East-West conflict component is not sufficiently taken into consideration-East-West tensions are a severe constraint on and a determining factor of North-South relations. Using influence diagrams, the author develops a flexible framework for discussion and assessment of N/S-E/W relations.     

Tournament-based incentives and mergers and acquisitions

This research examines the relation between tournament-based incentives, which are proxied by the difference between a firm's CEO pay and the median pay of the senior managers, and mergers and acquisitions (M&As). We find that tournament-based incentives are positively related to firm acquisitiveness and acquiring firms' stock and operating performance. Further analysis indicates that positive acquisition performance increases the likelihood of the CEO being promoted from inside the acquiring firm. Our evidence is consistent with the view that tournament-based incentives motivate acquiring firms' managers to make greater efforts and take more risk that result in superior acquisition performance.     

Corporate Innovations and Mergers and Acquisitions

Using a large and unique patent‐merger data set over the period 1984 to 2006, we show that companies with large patent portfolios and low R&D expenses are acquirers, while companies with high R&D expenses and slow growth in patent output are targets. Further, technological overlap between firm pairs has a positive effect on transaction incidence, and this effect is reduced for firm pairs that overlap in product markets. We also show that acquirers with prior technological linkage to their target firms produce more patents afterwards. We conclude that synergies obtained from combining innovation capabilities are important drivers of acquisitions.     

Trust and cross-border mergers and acquisitions

A number of studies suggest that social trust matters for investment. Using different measures of trust from World Values Survey, we show that countries where people display higher levels of trust engage in more cross-border M&A activities. When they do, these acquirers pay lower premiums. To the extent that these acquirers also tend to engage in larger acquisitions as well, our findings suggest that a larger selection pool of potential targets and higher value targets enable these acquirers to negotiate for lower premiums. We do not find evidence of the significant effect for target country trust levels. Hence, trust may benefit those acquiring firms in cross-border transactions.     

Director gender and mergers and acquisitions

Does director gender influence CEO empire building? Does it affect the bid premium paid for target firms? Less overconfident female directors less overestimate merger gains. As a result, firms with female directors are less likely to make acquisitions and if they do, pay lower bid premia. Using acquisition bids by S&P 1500 companies during 1997–2009 we find that each additional female director is associated with 7.6% fewer bids, and each additional female director on a bidder board reduces the bid premium paid by 15.4%. Our findings support the notion that female directors help create shareholder value through their influence on acquisition decisions. We also discuss other possible interpretations of our findings.