“一带一路”沿线国家贸易开放与劳动收入份额

基于1990~2014年的跨国数据,实证研究贸易开放对"一带一路"沿线国家劳动收入份额的影响。分析发现,"一带一路"沿线国家的劳动收入份额均值下降了5%以上。采用固定效应模型和工具变量法的实证分析表明,整体上贸易开放抑制了"一带一路"沿线国家的劳动收入份额。进一步将"一带一路"沿线国家按照经济发展水平、要素禀赋、制度环境分组研究发现,贸易开放对高经济发展水平国家、资本密集型国家、资源密集型国家、制度环境良好国家的劳动收入份额具有显著负影响,但是对于低经济发展水平国家、劳动密集型国家、制度环境不佳国家的劳动收入份额具有显著正效应。而向中国贸易开放能够提高"一带一路"沿线国家的劳动收入份额,特别是对低经济发展水平国家的积极影响较强。上述实证结果具有稳健性。在此基础上提出了相应的政策建议。     

Working capital (mis)management – impact of executive age

Several recent studies have used the upper echelons theory to explain the impact of personal traits of top executives on various corporate policies. In this, first of its kind, study we find that older executives invest more in working capital; take longer to convert inventories to cash; and pay their suppliers sooner. These findings are consistent with the argument that risk aversion increases with executive age. Our findings indicate that executive age has significant bearing on working capital management policies. This study also initiates new avenues in research relating behavioral aspect of executives with short‐term financial management.     

矿产开发产生的负债与核算

鉴于负债的确认和核算是自然资源资产负债表编制的重点和难点,文章以国内外矿产资源资产负债的存在及其表现为线索进行分析与探讨,研究矿产资源开发产生负债运行机理和负债核算范围及内容等,揭示出矿产资源在其负外部性作用下形成负债的机理,并根据负外部性效应将矿产资源开发产生的负债划分为耗竭性负债、生态环境负债和安全负债,同时将耗竭性负债、生态环境负债和安全负债的核算范围与现有法律法规相衔接,提高负债核算的可操作性和可推广性,为自然资源资产负债表编制和维护国家所有者权益提供技术支撑。     

Political stability and trade agreements: Evidence for ‘endgame FTAs’

This paper empirically examines the idea that Free Trade Agreements (FTAs) are more likely to be signed by governments playing ‘endgames’; that is, when governments are about to lose power. Two empirical strategies shed light on this hypothesis. One relies on events that increase the probability of political turnover, the other on term limits. I find that countries are more likely to sign FTAs after the unexpected exit of their leaders, when political instability is high. The key finding is partly confirmed in the term-limits strategy as governments are found to form more FTAs during their last term in office.     

Did APEC's Trade Facilitation Action Plans deliver the goods?

This paper uses new data to examine whether APEC achieved its aim of reducing trade transaction costs by 10% over the 2002–2010 period. An inversion of the familiar gravity model makes it possible to infer trade costs based on the observed pattern of trade and production across economies. Analysis of trade costs calculated in this way shows that although intra- and extra-APEC trade costs fell during the sample period, they did not do so substantially more quickly than elsewhere in the world. Indeed, the region taken as a whole did not meet the 10% reduction goal. However, a considerable number of individual economies not only met the goal, they greatly exceeded it. Consistent with their outward oriented development strategies and leverage of global and regional value chains, some APEC economies saw very rapid falls in their trade costs over the 2002–2010 period, Viet Nam being a standout performer. Overall, about one third of the forum's membership for which consistent data are available met or exceeded the 10% reduction goal. APEC's two Trade Facilitation Action Plans can therefore be seen as having had mixed records of success.     

Wilhelm Röpke and Richard C. Koo On Secondary Deflations and Balance Sheet Recessions

The concept of a ‘secondary deflation’ was developed in the 1930s by the German economist Wilhelm Röpke, who saw it as something different from a normal depression. While a primary deflation is a necessary reaction to the inflation from a boom period, a secondary deflation is independent and economically purposeless. Röpke argued that secondary depressions occurred in the US, Germany, France and Switzerland during the 1930s, but was vague on what made them follow primary depressions. Recently, the Taiwanese–American economist Richard C. Koo has claimed to have discovered the ‘Holy Grail of macroeconomics’, that is, what made the Great Depression so deep and long. During the Great Depression, the bursting of the asset price bubble resulted in private sectors having more debt than assets; as they shifted from maximising profits to minimising debt, the consequent debt deflation shrank the economy. According to Koo, Western economies today are suffering from a similar ‘balance sheet recession’. Strengthened by the notion of a balance sheet recession, Röpke's long‐lost insights might advance our understanding of the business cycle in general and the present crisis in the US and the Eurozone in particular.     

黑龙江省大豆比较优势分析

黑龙江省是世界大豆的原产地,中国大豆的主产区。加入世界贸易组织后,在国外转基因大豆的冲击和跨国粮商的操控下,大豆已经由黑龙江省的比较优势产品转化为比较劣势产品。要振兴大豆产业,必需采取多项措施提升非转基因大豆和大豆加工企业的竞争力。     

Asymmetric cointegration with threshold adjustment model of exchange rates and the trade balance in Turkey

This paper aims to investigate the long-run equilibrium relationship between the trade balance and exchange rates in Turkey using the asymmetric error correction model with threshold cointegration. The results provide new evidence for the asymmetric long-run relationship between the trade balance and exchange rates. Besides, deviations from the long-run equilibrium due to a relative increase in real exchange rates have a lower speed of adjustment in comparison to the deviations caused by a relative decrease in real exchange rates.     

高校女职工的“工作-家庭”关系及其态度研究——以安徽省芜湖市高校为例

高校女职工中普遍存在“工作一家庭”兼顾的平衡模式，一方面，女职工承担起大部分家务，为丈夫的事业发展做出了牺牲；另一方面，女职工对工作有着积极的态度和较强的事业心。调查发现：这种“工作一家庭”兼顾的平衡模式并未在女职工生活中的造成重大冲突；由于女职工受到传统性别意识的影响，事业心不足，为家庭奉献的决心仍旧存在，因而她们较...     

On the conceptual foundations of financial reporting

Standard setters advocate a balance sheet approach to financial reporting, which views assets and liabilities as primary, and income as just the derivative change in net assets. This paper argues that income is conceptually and practically better described as ‘adjusted net cash flows,’ where the adjustments are the accounting accruals. One proof of that is seen in the existence of whole accounting systems like tax accounting and national income accounting, which emphasize the determination of income but have no balance sheets. The paper also argues that an income-based approach to financial reporting is by nature better suited to reflect the success of advancing cash to earn more cash, which defines what for-profit entities do. There are two main features of the income-based approach. One is attention on the cash flows as the natural foundation for financial reporting because they are precisely determined, and provide a clear link to firm valuation. The other is attention on the accounting accruals, which serve to adjust the raw cash flows to better show the current success of investing cash to ultimately earn more cash. Specifically, the paper argues for revenue recognition which is close to current practice, and for expense recognition which is aligned with the matching principle.