Development built on crony capitalism? The case of Dangote Cement

This paper critiques the emergence of Dangote Cement as the dominant player in cement manufacturing in Nigeria. It argues that the changed economic environment General Obasanjo met when he became president of Nigeria for a second time in 1999 made it difficult for him to continue the nationalisation policies and the expansion of government involvement in several spheres of economic activity that he helped to promote in the 1970s. The realisation that this strategy, which created numerous crony capitalists, was unsustainable resulted in Obasanjo allying with Dangote and promulgating the Backward Integration Programme (BIP) for the local cement industry. This made it possible for Dangote to risk aggressive investment in the capital-intensive cement production business. This strategy achieved public good by rapidly making Nigeria, an oil rent- and import-dependent economy with enormous limestone reserves, self-sufficient in cement production.     

我国物流业转型升级研究综述

中国经济已经到了只有转型升级才能持续健康发展的关键阶段,产业转型升级在国家政策文件和研究文献中出现的词频较高。文章以我国物流业为研究对象,从现有涉及到物流业转型升级方面的文献挖掘有效信息,梳理我国物流业转型升级研究的历史脉络,从供应链与价值链、产业集群、现代科学技术应用和产业联动四个视角对现有的物流业转型升级文献进行了总结和归纳,并从物流业转型升级的动力研究、阶段性划分研究和演进规律研究三个方面指出了现有文献的研究不足和以后可能的研究方向。其中,供应链与价值链视角侧重于物流企业的纵向角度,产业集群视角侧重于物流企业的横向角度。文章对于物流企业战略设计、政府政策的制定和理论研究具有一定的参考作用。     

Agriculture–nutrition linkages with heterogeneous,unobserved returns and costs: Insights from Tajikistan

Agriculture–nutrition linkages (ANLs) have been increasingly investigated in the literature. However, nutritional returns and costs of household agricultural production practices (APPs) in semisubsistence settings are poorly understood. We fill these knowledge gaps using pooled cross-section data sets in Tajikistan, where semisubsistence farming and undernutrition coexist despite relatively good agricultural infrastructure and education systems. Agricultural diversification, yield enhancement, production expansion are positively associated with various nutritional outcomes, particularly in areas with poor food market access. Decomposition exercises suggest that nutritional returns and costs of these APPs vary across households, and the adoption of APPs is driven by the expected nutritional returns. In Tajikistan, improving nutrition through household ANLs requires growing the smallholder agricultural sector in multiple dimensions, including diversification, intensification, and expansion, while also understanding better the pathways of ANLs and addressing bottlenecks at appropriate stages of such pathways.     

国家审计与内部审计协同研究

国家审计和内部审计在国家治理和公司治理中,由于各自优势的不同,各自发挥着同样重要的作用。在审计全覆盖的背景下,两者的协同联动是整合审计资源,减少资源重复浪费,提高国家审计效率效果的必然选择。本文以协同理论为基础,通过分析国家审计和内部审计的内涵,从政策角度出发探讨了目前我国协同联动的主要形式以及存在的问题,认为破除技术手段的制约和提升内部审计独立性是实现协同联动的必要基础。     

Does foreign investment benefit the exporting activities of Vietnamese firms?

Using firm-level data, this paper examines the effects of foreign investment on the exporting behaviour of domestic firms in the Vietnamese manufacturing and service sectors. Applying the Heckman selection model on panel data and following the Wooldridge approach, we find that investment by foreign firms has a significant positive effect on the decision of domestic firms in the same and upstream sectors to export. The proportion of exports of domestic firms declines through horizontal and forward linkages, but increases through backward linkages in the manufacturing sector. However, there is only weak evidence in support of export spillovers on domestic firms in the service sector. We also find that the presence of foreign firms has differing effects on the exporting activities of low- versus high-tech firms in the manufacturing sector.     

MULTIDIMENSIONAL DYNAMIC RISK MEASURE VIA CONDITIONAL g‐EXPECTATION

This paper deals with multidimensional dynamic risk measures induced by conditional g‐expectations. A notion of multidimensional g‐expectation is proposed to provide a multidimensional version of nonlinear expectations. By a technical result on explicit expressions for the comparison theorem, uniqueness theorem, and viability on a rectangle of solutions to multidimensional backward stochastic differential equations, some necessary and sufficient conditions are given for the constancy, monotonicity, positivity, and translatability properties of multidimensional conditional g‐expectations and multidimensional dynamic risk measures; we prove that a multidimensional dynamic g‐risk measure is nonincreasingly convex if and only if the generator g satisfies a quasi‐monotone increasingly convex condition. A general dual representation is given for the multidimensional dynamic convex g‐risk measure in which the penalty term is expressed more precisely. It is shown that model uncertainty leads to the convexity of risk measures. As to applications, we show how this multidimensional approach can be applied to measure the insolvency risk of a firm with interacting subsidiaries; optimal risk sharing for ‐tolerant g‐risk measures, and risk contribution for coherent g‐risk measures are investigated. Insurance g‐risk measure and other ways to induce g‐risk measures are also studied at the end of the paper.     

落后小经济实体的产业结构协调——以四川省南充为例

落后小经济实体的特性与其所处的大环境决定了其产业结构的不协调。就业困难成为落后小经济实体的一大隐患。南充作为小经济实体的典型代表 ,其现期产业结构的逆转 ,预示着其不可能跨过“第二产业 >第三产业 >第一产业”的阶段。轻型工业和服务业是解决其就业矛盾的关键。从某种意义上说 ,轻型工业起到了一个桥梁的作用 ,它使第一产业的人口顺利流向第三产业。     

连锁企业核心扩散与共生效应分析

研究连锁经营的核心扩散机理旨在揭示连锁单元扩张的内在规律。连锁经营就是要使核心能力通过连锁机制和连锁单元得以充分发挥,使它的经济运行效率达到可能的最优状态;连锁经营可以克服单体经营的有限性,从而大大提高经营效率,使连锁经营的生存能力和扩张能力提高,从中国连锁经营发展的进程来看,影响连锁单元增长速度的主要原因还是连锁总部的核心能力和连锁环境条件,而不是业内之间的竞争。     

我国证券市场的板块联动效应及模糊聚类分析

以上海证券市场的各分类样本指数为研究对象,首先分析了传统的五大类指数、A股、B股之间的相互及其与大盘的关联性,验证了B股市场运行的独立性。然后随机抽样了24个分类板块指数,研究了它们之间的相关性,并运用模糊聚类分析法对其进行了聚类分析。最后根据实证研究结果,对投资者提出有一定参考意义的投资操作建议。     

制造业与物流业联动发展的竞合关系研究--基于集成场的视角

随着物流功能的集成和制造过程的标准化发展,物流一体化服务逐步嵌入制造过程,直接服务于生产工位。然而,目前两业联动的研究局限于制造企业与物流企业间的关系,难以带动产业的联动发展,因此,制造业与物流业的联动研究应转向物流链与产品供应链的关系研究。文章基于非合作博弈和合作博弈模型,从集成场的视角,对制造集成体与物流集成体之间的竞合关系进行了分析,以非合作博弈模型的解作为谈判的基础,运用合作博弈模型,得出只有在双方选择集体理性的条件下,能够促进物流链与产品供应链的融合,并指出u 0,ν0, t 0, U四个参数影响两业联动的模式。