On the failure of the linkage principle with financially constrained bidders

This paper provides a class of examples of two-bidder common value second price auctions in which bidders may be financially constrained and the seller has access to information about the common value. We show that the seller's expected revenue under a revelation policy may be lower than that under a concealing policy. The intuition for the failure of the linkage principle is as follows. In the presence of financial constraints, the bidders’ upward response in their bids to the seller's good signals is limited by their financial constraints, while their downward response to bad signals is not.     

Capacity decisions and supply price games under flexibility of backward integration

A key issue in supply chain design for manufacturing firms is how to make a trade-off between strategies of vertical integration and outsourcing. A two-echelon supply chain model with one supplier and one manufacturer is set up to study this issue. The manufacturer makes decisions on two types of capacities, one is core capacity that cannot be outsourced, the other is non-core capacity on which the manufacturer implements a strategy that includes three options—complete, partial or no outsourcing. Such a strategy is referred to as “flexibility of backward integration”. Optimal capacity decisions of the manufacturer are given and the supplier's pricing strategies are discussed. Managerial implications of partial outsourcing are investigated. The impact of the flexibility of backward integration is presented and finally, supply chain coordination is analyzed.     

Sectoral linkages of foreign direct investment firms to the Czech economy

Foreign direct investments (FDI) influence the industrial structure of the host economy through linkages to the domestic economy. Firms may use intermediate goods produced by either domestic or foreign firms, and sell their products to either domestic or foreign customers. The resulting change in the industrial structure of the indigenous economy is analysed in a panel regression for the case of the Czech Republic. The results show that linkages have a strong influence on the sectoral composition of the indigenous economy, supporting the development of indigenous manufacturing and labour-intensive industry.     

Analysing pollution by way of vertically integrated coefficients, with an application to the water sector in Aragon

In this paper, we adopt Pasinetti's approach of vertically integratedsectors in order to disaggregate pollution into its most significantcomponents. Vertical integration allows us to obtain five components(and at least five measurement indices) corresponding to eachsector and each type of pollution. These indices overcome someof the deficiencies of the traditional Rasmussen-type coefficients.The empirical application is carried out by reference to thewater sector in Aragon, a region which lies in north-easternSpain, for five polluting factors, namely: water returns, biologicaloxygen demand at five days (BOD5), suspended solids (SS), nitratesand phosphates.     

Spillovers through backward linkages and the export performance of business services. Evidence from a sample of Italian firms

We provide evidence on the role of spillovers through vertical linkages in service firms’ internationalisation process. We combine input–output coefficients with region-level information on downstream manufacturing sector exports to build a measure of spillovers through backward linkages, which we assess as a systematic determinant of Italian BS firms’ export status. Once considered firm and sector specificities, export spillovers especially matter for exporting to high-income economies outside Europe. This finding originates from higher sunk costs stemming from greater distance to the destination market and tougher competition within the destination market. Furthermore, the spillovers’ geographical scope is mainly local. We thus contribute to international business theory by generalising existing evidence from case studies on the importance of buyer–supplier relationships for service firms’ internationalisation across several BS sectors. Our research carries important implications for international business practices as well, as joining networks with internationalised customers may play an important role in enhancing BS firms’ exports, regardless of the BS supplied.     

我国东、中部地区城镇化与新农村建设区域优先序战略探索

以城乡统筹为视角,基于非均衡增长理论和城乡联系模式理论的启示,根据我国东部和中部地区的发展差异,提出了相对应的城镇化与新农村建设协调推进的战略构想,即:东部地区重在提升城镇化质量,中部地区强调城镇化与新农村建设并重。     

区域金融结构与经济增长联动关系研究——厦门市的实证分析

通过阐述区域金融机构与经济增长的联动关系,对厦门市金融结构现状进行分析,在此基础上对厦门市15年来的金融结构数据与经济增长数据做实证分析,结合厦门市金融结构存在的一些结构性问题,提出相应金融结构的优化路径,即完善金融机构体系,强化金融机构总部效应,加大对金融弱势地域的扶持,注重复合型金融人才的培养等。     

A note on the value of public information in monopoly

The paper shows that in the standard model of monopoly with asymmetric information and second-degree price discrimination, the monopolist prefers to reveal public information under a form of stochastic dependence that is weaker than the affiliation of private values, private signals, and public signals.      

后发国家技术进步的陷阱：从后发优势到自主创新

本文将垄断市场结构引入新古典增长模型，讨论后发国家技术进步方式转变的障碍及其成因。模型在分析企业技术进步方式选择的基础上。指出政府干预下形成的过度垄断以及垄断企业对政府的游说，造成后发国家的企业过分依赖于靠引进模仿实现技术进步，结果是后发国家的整体技术水平无法向世界技术前沿收敛。然而，政府干预经济和鼓励垄断性大企业发展是后发国家在工业化初期普遍存在的现象，从这个层面看，本文拓展了“可持续发展”的含义。     

国外促进落后地区经济发展考察及其启示

任何国家的区域经济发展都会存在地区差异,有发达与落后之分。美国、巴西、意大利、日本等国家为了促进本国落后地区的经济发展,采取了一系列不同的政策措施,在区域经济协调发展上取得了明显的成效。我国现在西部地区与这些国家当时落后地区的发展状况有许多相似之处,这些国家为了促进落后地区发展有很多成功的做法及经验,值得我国学习和借鉴。