The nexus between public sector corruption and private sector efficiency: Evidence from worldwide firm-level data

Anti-corruption is highlighted as one of the key institutional principles by the United Nations, as corruption hinders the progress in achieving sustainable development goals. However, the extant literature on how private firms' efficiency is influenced by corruption prevailing in regulatory agencies across economies has been inconclusive. Analyzing the World Bank Enterprise Survey data across 45,121 firms from 80 countries, this study finds that bribe payments to corrupt public officials by firms causes bureaucratic delays. Employing an instrumental variable Tobit framework to address the issue of endogeneity inherited with observational data, this study demonstrates that an increase in the magnitude of bribes and depth of corruption by one percentage point separately expands the firm managers' time being spent on regulatory requirements by 2.78 percentage points and 2.47 percentage points, respectively. The findings are robust to different specifications. The results imply the importance of promoting anti-corruption measures across countries to create a conducive environment for firms to enhance efficiency, and thereby to achieve sustainable development goals successfully.     

Global economic uncertainty and the Chinese stock market: Assessing the impacts of global indicators

We comparatively assess the influence of global economic uncertainty measures on Chinese stock market volatility. Using a model based on generalized autoregressive conditional heteroskedasticity and mixed-data sampling, the results show that the global economic policy uncertainty index, the geopolitical risk index, and the global economic condition index all significantly influence the long-term volatility of China’s equity market. We highlight which of these measures has the most explanatory power under differing contexts. As uncertainty measures have wide applicability, investors, policymakers, and academicians will be quite interested in our results.     

美国硅谷成因及其对“世界水谷”建设的启示

在分析自然资源禀赋、人力资源、政府支持、风险资本的孵化力、创新网络经济的形成以及独特文化等美国硅谷成因的基础上,结合"世界水谷"的特点,提出"世界水谷"的建设路径是以优美的自然环境和完善的基础设施为前提,以政产学研金一体化为重点,以营造独特的文化为核心,以面向市场、完善科技成果向现实生产力转化的机制为动力,从而推动"世界水谷"的发展。     

21世纪海上丝绸之路下“世界水谷”全球体系建设的战略问题

针对海洋新型技术的匮乏、海外园区建设经验不足、文化交流水道形势严峻等问题,结合产业、教育、科技、资本、创业等协同创新方式,构建"世界水谷"全球体系,包括协同创新的商业模式、总部和分谷的组织体系、全球化战略目标等。通过战略需求分析,得出:"世界水谷"全球体系将满足海上丝绸之路对海洋合作的经贸需求,对海外水产业园区及中国-东盟水安全共同体的建设需求,对水产业的资金支持以及水文化交流和水科学创新的诉求等结论。     

“长江经济带”对“世界水谷”建设的战略需求

分析"长江经济带"水生态文明建设存在的问题及战略需求,阐述"世界水谷"模式在破解"长江经济带"水生态文明建设问题中的应用,提出发挥"政产学研"创新驱动,为解决水污染问题提供人才支撑;创新驱动主体协同,为产业转移提供资金支持和技术保障;利用市场手段解决排污权分配问题等建议。     

中国经济的现实与未来:分析与展望

中国的长期发展使其经济实力和国际影响力显著增强,并使得人民币开始成为国际货币市场中的另一种财富标志。虽然对中国的可持续发展能力和政府作用仍存在种种质疑,但通过产业结构的调整和政治体制改革的深化,中国应能保持其发展趋势并在未来的多极世界中获得更大的话语权。     

论上海世博会的海关边境保护措施——以贸易安全和贸易便利为视角

安全保障问题一直是所有重大国际活动的举办国需要面对的敏感问题。举办国对进出本国关境的人员及其活动进行有效的监管和防范是保障国家安全和活动安全的第一步。[1]依据WTO多哈回合的贸易便利化要求,海关在执行维护国家安全的职责时不能阻碍自由贸易,不能用繁杂的海关手续形成一种非关税壁垒。这意味着我国海关在重大国际活动中要运用有限的海关人力与物力在保障贸易安全的前提下实现贸易便利。本文将从2010上海世博会的海关边境保护措施出发,探讨国际重大活动中的贸易安全与便利问题。     

An empirical analysis of the impact of banking regulations on sustainable financial inclusion in the CEMAC region

Based on a panel analysis of six countries over the period 2004–2018, this study examines the impact of financial regulation on sustainable financial inclusion (FI) in the Central African Economic and Monetary Community (CEMAC) region. Using different approaches to estimate FI, we ?nd that banking regulation has a positive impact on FI. In particular, our ?ndings suggest that regulations for monitoring entry into the financial sector, external reporting and audits, and deposit insurance contribute sustainably to an increase in FI. In addition, banking regulations help the region to attract foreign direct investment and boost economic growth. An important policy implication of this paper is that CEMAC regulators should enhance synergy with mobile telephone network providers to promote digital FI, as it offers a low-cost option for promoting FI, especially for people living in areas underserved by mainstream financial institutions.     

“世界水谷”协同创新效率测度模型研究

从系统的角度构建"世界水谷"协同创新系统,该系统包括政府、企业、高校、科研院所、金融机构5个子系统;通过回顾以往文献,构建基于BCC模型的多系统DEA模型,提出"世界水谷"协同创新效率测度模型——三阶段DEA模型,第一阶段为多系统DEA模型,第二阶段引入SFA模型,消除随机误差和环境因素的影响,第三阶段将结果代入第一阶段DEA模型得出最终效率值。模型同样适用于其他有关协同创新系统效率评价。     

“世界水谷”协同创新生态系统构建及其评价

依据生态学和系统科学理论对"世界水谷"协同创新生态系统进行了定义,并分析了其组成要素,具体包括创新主体和创新生态环境两个部分。在此基础上,构建了"世界水谷"协同创新生态评价指标体系,运用多层模糊综合评价法,为"世界水谷"协同创新生态状况评价提供了一个新的思路。