Growth model of the new member states: Challenges and prospects

This paper reviews the strong pre-crisis economic growth in the new EU member states and assesses whether the growth model can continue to be successful after the crisis. The analysis shows that a new growth model for the region will be needed, ideally one that focuses on raising domestic savings, implementing structural reforms to increase potential growth and rebalancing growth towards tradable sectors.     

EU enlargement and labour demand in the new member states

Research to date on labour market responses to EU integration has tended to concentrate on the labour markets of the “old” EU members. But what effect has the integration of trade had on wages in the new member states? The following article attempts to answer this question using an empirical model of conditional sectoral labour demand.     

欧盟新成员国带给中国经贸关系的挑战

2004年5月1日，波兰、匈牙利、捷克、斯洛伐克、斯洛尼亚、爱沙尼亚、拉脱维亚、立陶宛、塞浦路斯和马耳他等10国正式加入欧盟。欧盟由15国增加到25国，拥有4．5亿消费，年进出口额接近3万亿美元，占世界总贸易额的20％，国内生产总值占世界1/4，成为全球最大的贸易集团和进口市场。而这些新成员占拥有25个成员国的欧盟表面积的19．4％，人口的16．7％，国民生产总值的8．1％，新成员国的人均国内生产总值占欧盟平均数的48．6％。     

Current account sustainability in Latin America

This paper examines the sustainability of the current account deficit in eighteen Latin American countries through the analysis of the stationarity properties of the current account balance. First, we apply traditional unit root tests and consider the possibility of structural breaks. Second, since the current account may have a nonlinear behaviour, we test for linearity in the data and analyse current account stationarity by means of a recently developed nonlinear unit root test. Results from linear and nonlinear unit root tests show that current account sustainability is supported for the majority of Latin American countries with the exception of Argentina, Brazil, Chile and Paraguay. For the Dominican Republic, Honduras, Mexico, Panama, Peru, Uruguay and Venezuela the current account dynamics are best described by a stationary linear model, and by a stationary linear model with a mean shift in years 2003, 1982 and 1980 in Bolivia, Costa Rica and Nicaragua, respectively. In the case of Colombia, Ecuador, El Salvador and Guatemala, results show that the current account is best described by a mean-reverting nonlinear process.     

The role of member states as rule-makers in the European Union

Although the Treaty of Amsterdam has not lived up to the expectations of those who wanted a substantially stronger and more active European Union, it has expanded considerably the competences of the Union. In some policy areas such as social policy, it has added significantly to the obligations of the member states. By implication, the policy discretion of member states has been reduced further. The reasonable question that arises is whether the Union will and whether it should keep encroaching on the policy discretion (some use the word sovereignty) of its member states? The aim of this paper is to provide an answer to that question with respect to the economic functions of member states.     

中国产业内贸易的现状与成因分析

<正> 一、中国产业内贸易发展现状 目前广为接受的衡量产业内贸易水平高低的是由格鲁贝尔(Grubel)和洛依德(Lloyd)研究时用的产业内贸易指数ITT:ITT=1-{|XI-Mi|÷(Xi+Mi)}其中Xi,Mi分别表示产业i的出口值和进口值。当ITY=0时,表     

A meta‐analysis of the indirect impact of foreign direct investment in old and new EU member states: Understanding productivity spillovers

In this paper, we summarise, combine and explain recent findings from firm‐level empirical literature focusing on the indirect impact of foreign direct investment (FDI ) on economic performance, measured as productivity, in the Enlarged Europe. We have reviewed 52 quantitative studies, released between 2000 and 2015 and codified 1,133 estimates. We run a regression of regressions which measures the strength of the FDI –productivity relationship. Taking advantage of large number of high‐quality studies on FDI and its role in explaining the growth in firms’ productivity in Europe, we adopt recent meta‐regression analysis methods—funnel asymmetry and precision estimate tests and precision‐effect estimate with standard errors —to explain the heterogeneous impact of FDI . This paper assesses the country‐specific impact of FDI on firms’ performance, after taking publication selection bias, econometric modelling and the individual studies’ characteristics fully into account. Our results show that on average FDI has a positive indirect impact on productivity. The impact is especially significant in selected European countries, and we interpret this as a sign of better absorptive capacities in those countries.     

福特全顺新成员

近日,福特汽车在中国市场又推出一款新车--17座超高顶后双胎全顺客运车,为公路客运市场注入了新鲜活力.17座后双胎全顺客运车在其后单胎车型的基础上作了一系列的改进,使之更加平稳,更加安全,承载能力更强,更能满足公路客运市场的需求.     

Causes and consequences of managerial failure in rapidly changing organizations

To survive in today's ultra-competitive business environment, organizations must better understand the factors that cause managers to fail to achieve desired results. To that end, focus group data was collected from 1040 managers from over 100 different U.S. manufacturing and service organizations experiencing large scale organizational change in order to help identify the primary causes of managerial failure. This article discusses the 15 primary causes of managerial failure identified in the study, along with their perceived consequences to managerial and organizational performance. Ultimately, it is hoped that this will provide a guide for improving the effectiveness of both individual managers and the organizations they serve.     

Current account balances and international economic policy coordination

The existing balances on the current accounts of the major industrialised countries have given rise to demands, addressed particularly to German economic policy-makers, which amount to a revitalisation of the “locomotive theory”. However, were the world economy once more to be “reflated” in accordance with the “locomotive theory”, there would be a danger that the improvements in stability which have been attained would be sacrificed without actually solving the pressing international economic problems.     

我国反倾销现状、成因及应对策略

倾销是受到WTO和世界各国广泛抵制的不正当竞争行为。近年来,随着中国进一步加快外开放,国外商品和资本大量涌入国内,一些跨国公司趁机大肆倾销,对我国相关产业造成严重威胁。应合力组建灵敏一高效的反倾销机制,提高我国的反倾销能力,营造出公平竞争的市场环境,促进经济健康发展。     

Consumers' mood states: Antecedents and consequences of experiential versus informational strategies for brand choice

The relationship between mood (an affective state variable) and choice strategies that are primarily affective (experiential strategy) or cognitive (informational strategy) is examined with a literature review and an empirical study. Findings suggest consumers in positive moods may be more likely to use an experiential strategy than those in negative moods, and consumers in negative moods may be more likely to use an informational strategy than those in positive moods. Results also suggest consumers in positive moods who use an experiential strategy may have more positive post-processing moods than those who use an informational strategy, and consumers in negative moods who use an informational strategy may have more positive and post-processing moods than those who use an experiential strategy. The implications of these findings are discussed and suggestions for further research are provided.     

浅谈新形势下的商业银行存款及其账户管理

新形势下加强商业银行的存款及账户管理是金融监管的重点,对于维护金融秩序,化解金融风险都有重要意义。本文介绍了新形势下的商业银行存款成本控制的现状,新形势下商业银行存款产品创新形式的扩展,以及新形势下的商业银行账户管理的监管措施。     

A new perspective on “the new rule”of the current account

In an influential series of contributions, Kraay and Ventura (2000, 2003) offer a “new rule” for the current account: in response to a temporary income shock, the change in the current account is equal to the change in saving times the ratio of net foreign assets to wealth. We analyze the impact of a temporary income shock on the current account in the context of a two-country dynamic general equilibrium model of portfolio choice and show that the new rule does not hold. We also show that the cross-section evidence reported by Kraay and Ventura in favor of the new rule is a feature implied by the steady state of the model that is conceptually distinct from the new rule. We argue that the new rule could only hold in a model with one-way capital flows (only inflows or outflows, but not both), a feature that is strongly counterfactual.