Changing Engines of Growth in China： From Exports, FDI and Marketization to Innovation and Exports

This paper investigates the changing sources of growth in post-reform China. Using crossprovince regressions, this paper finds that, in earlier periods, exports, foreign direct investment and marketization were significantly related to per capita income growth, whereas＇ since the late 1990s, foreign direct investment and marketization have lost their significance and have been replaced by new sources of growth, such as innovation and knowledge, with only exports continuing to be important. This finding is robust after controlling for other variables representing other economic policies and provincial characteristics. We also tackle the possible endogeneity of innovation variables using the instrumental variables estimation method.     

Industry‐specific Exchange Rate Fluctuations,Japanese Exports and Financial Constraints: Evidence from Panel Vector Autoregressive Analysis

Using a panel vector autoregression approach and industry breakdown data for financial constraints obtained from the Bank of Japan's Tankan (Short‐Term Economic Survey of Enterprises in Japan) database, this study empirically investigates whether and how Japanese firms' financial constraints (internal and external) influence the response of Japanese sectoral exports to an exchange rate shock. Furthermore, we use the industry‐specific real effective exchange rate data developed by to allow for different movements of real effective exchange rates across industries. It is found that financial constraints have a significant influence on Japanese exports in response to exchange rate shocks. Japanese exporters with either lower internal financial constraints or external financial constraints are less affected by the yen's appreciation. In addition, if firms face high external financial constraints, only reducing the internal financial constraints cannot help them mitigate the impact of the yen's appreciation on their exports. Thus, an accommodative financial environment also plays an important role in alleviating the impact that the yen's appreciation has on Japanese exports.     

我国商业银行金融产品创新现状及对策研究

产品创新是商业银行增强核心竞争力的重要手段,日益受到银行业和学术界的广泛关注。然而,我国商业银行在面对激烈的竞争时,除了体制和社会环境的影响外,产品创新同质化、创新速度慢、整合度不高等问题已日发显现。本文力图从产品创新的现有问题出发,通过制约因素的剖析,把握各个问题产生的原因,以此提出提高产品创新水平的相关对策。     

营业中断险:业务持续管理与保险产品创新的契合

文章从巨额地震赔款、国内企业获得第一张业务持续管理认证证书、保险产品创新受瞩目三个孤立的事件入手,分析了营业中断保险、业务持续管理与保险产品创新之间的内在联系,运用一系列事实与数据说明业务持续管理与保险公司产品创新契合,能够从需求与供给两个方面排解或舒缓我国营业中断保险发展的制约因素,并建议企业、保险公司、学术界等各自发挥其所长,联合推动营业中断保险在我国的发展。     

Institutional Pluralism and Housing Delivery: A Case of Unforeseen Conflicts in Mumbai, India

This paper demonstrates how institutional pluralism in the delivery of housing can evoke major disagreements and ultimately conflict between different stakeholders. The case study focuses on a case of slum redevelopment in Mumbai and shows how a major nongovernment organization (NGO) became involved in conflicts with the other stakeholders, including private market actors, government agencies and even the community group. But, these conflicts did not necessarily have only negative impacts. Under certain conditions, such as when property values were booming in Mumbai, communities can actually benefit from such conflicts.     

中印两国在亚太经济发展中作用的共性研究

本文认为.中国和印度在亚太地区经济发展中的作用既有共性也有差异性。本文对两国作用的共性作一探析。研究显示,两国作用的共性表现为中印在亚太经济发展中均具有大国意识、作用意识和理念、相同的作用方式和领域,这表明对21世纪初的亚太经济的认知与把握,还需要对中印两国在亚太经济发展中作用问题展开研究。     

Chinese and Indian Multinationals: A Firm-Level Analysis of their Investments in Europe

Abstract

This paper contributes to the literature on Chinese and Indian multinationals investing in Europe through an empirical investigation about their identity, their characteristics and the association between their features and their international strategies. The investigation exploits a database, named EMENDATA (Emerging Multinationals’ Events and Networks DATAbase), at the level of the investing firms. In relation to the mode of entry, we find that greenfield investments are a more likely option for large-sized companies. Moreover a high propensity for innovation is associated with a high probability to enter with an acquisition and with technological asset-seeking investments. Finally, high profitability is needed to invest in the EU-core countries.     

The Manufacture of Popular Perceptions of Scarcity: Dams and Water-Related Narratives in Gujarat, India

This paper critically examines some narratives of water scarcity in Kutch, western India. It argues that images of dwindling rainfall and increasing drought largely serve to legitimize the controversial Sardar Sarovar dam and manufacture dominant perceptions concerning scarcity. This manufacture has naturalized scarcity in the region and largely benefits powerful actors such as politicians, industrialists and large farmers. But the needs of the poor in water-limited areas are neglected. By exploring the various connotations of scarcity, the paper argues that scarcity is both a biophysical phenomenon as well as a powerful discursive construct. By distinguishing between the “real” and “manufactured” aspects of water scarcity, the paper attempts to enhance understandings of environmental change at the local level.     

Economic Benefits and Environmental Costs of China's Exports: A Comparison with the USA Based on Network Analysis

This paper decomposes economic benefits (value‐added) and environmental costs (CO₂) of exports according to their sources, and maps the global value network (GVN) and the global emissions network (GEN) for China's exports during 1995–2009 from national, sectoral and national–sectoral perspectives. A comparison is conducted between China and the USA. National GVN and GEN show that shares of value‐added and CO₂ emissions from China in its GVN and GEN both decreased first then increased after 2006, while shares from the USA in its GVN and GEN generally decreased. Sectoral GVN and GEN show that among China's exports, “electrical and optical equipment” and “electricity, gas and water supply” were, respectively, the sectors that obtained the most value‐added and emitted the most CO₂. National–sectoral GVN and GEN for China exhibited reciprocal and disassortative patterns, and in‐strengths and out‐strengths of GVN and GEN for China's exports were mainly captured by several domestic country–sector pairs.     

北京市种植业“一村一品”村农业产业竞争力研究

以北京市58个种植业“一村一品”村为研究对象,选取种植业“一村一品”村农业产业相关指标。首先,通过因子分析将筛选出的投入方面与产出方面原始评价指标分别进行降维处理,从而构建简化且合理的评价指标。其次,运用组合赋权超效率DEA模型,对种植业“一村一品”村农业产业效率值进行评价分析。最后,运用ESDA模型分析空间因素对“一村一品”村农业产业竞争力的影响,研究其农业产业竞争力是否存在空间相关性,探索种植业“一村一品”村农业产业竞争力在空间分布格局上的联系。结果表明：种植业“一村一品”村农业产业竞争力整体较强,但村间差异较大;农业产业竞争力具有空间相关性,存在集聚效应。据此,提出培育新型经营主体、选准高质量特色产业、协调各区域内互补发展、加强跨区域科技合作交流等建议,推动北京市种植业“一村一品”村农业产业竞争力提升。     

Exporting and Upgrading of Product Portfolio: Evidence from Korea,Japan and Indonesia*

This paper examines the effect of exporting on ‘product portfolio upgrading’ in a plant, using plant–product matched datasets for Korea, Japan and Indonesia. First, we find that a substantial part of aggregate shipments growth is explained by net adding of products for all three countries. Second, export starters are more likely to add products and to change product shares in plants than never exporters. Third, added products tend to have higher product quality than dropped products. Therefore, our results imply that the entry to export markets plays an important role in product portfolio upgrading: the process of reallocation from lower‐attribute to higher‐attribute products.     

Market Structure and Innovation: A Survey of the Last Twenty Years

A survey of the research on the relationship between market structure and innovation is given. Starting in 1975, the emphasis is on the last two decades, as well as on the most recent developments. Especially on the theoretical front, many important insights have been drawn. These can be applied to antitrust enforcement, or provide the microfoundations for models of economic growth. On the empirical front, research lagged far behind theory. This recently changed with the so called bounds approach which is discussed as a matter of looking into future developments in this area.