全球经济失衡与调整的政治经济学分析

美国金融危机爆发以来,全球经济失衡及其调整逐渐成为世界主要国家争论与战略博弈的一个焦点问题。本文在分析全球经济失衡的内涵及其成本的基础上,重点探讨了全球失衡的国内调整与国家间调整,认为寻求国内不同利益集团的利益平衡和主要相关国家之间失衡调整成本分担的平衡是决定全球经济失衡调整能否成功的关键。     

中国和平崛起与外贸发展战略调整

和平崛起是中国未来发展的重要战略，中国对外贸易发展战略理应成为其重要组成部分。中国在从贸易大国走向贸易强国的道路中，适时调整外贸发展战略具有重要意义。本文对WTO体系下我国和平崛起战略与外贸发展战略的关系、外贸发展战略调整的指导思想和政策取向进行了探讨与研究。     

The role of ethics in global corporate culture

Whatever ethnic, religious, or other cultural boundaries may have evolved through history, a global corporate culture is increasingly subsuming these traditional divisions. Multinational corporations, internationally linked securities markets, and omnipresent communication networks characterize this global corporate culture. The dynamics of corporate culture centres on the intricate web of contractual relations between stakeholders. This study addresses the question of how these stakeholder contracts can be most efficiently enforced. Three alternative contractual enforcement mechanisms are identified: the legal system, a generally accepted moral code, and stakeholders' desire to build and maintain reputations. Each alternative is critically evaluated and conclusions are drawn as to the relative feasibility and desirability of each enforcement mechanism. John Dobson is an Assistant Professor of Finance at The University of Mississippi. As a member of The Centre for Industrial Planning and Strategy (CIPS), he co-authored a study on the global man-made fibre industry. He has recently presented papers on reputation effects at the Southern Finance Association annual meeting, and has had articles and letters published in various academic journals including Business and Society and Financial Management. He is currently developing a curriculum for a course in Financial Contracting at the University of Mississippi. An earlier version of this paper was presented at the 1988 Southern Finance Association meetings in San Antonio.     

The role of the corporate HR function in global talent management

We currently know little of the role of the corporate human resource (HR) function in multinational corporations regarding global talent management (GTM). GTM is explored here from two perspectives: increasing global competition for talent, and new forms of international mobility. The first considers the mechanisms of GTM, and the second, individual willingness to be mobile, especially in emerging markets, and the organizational capability needed to manage this talent. New corporate HR roles are identified which show how these issues might be addressed. We then advance our understanding of GTM theory and practice by considering the major future challenges facing corporate HR.     

External adjustment in oil exporters: The role of fiscal policy and the exchange rate

After the decline in oil prices, many oil exporters face the need to improve their external balances. Special characteristics of oil exporters make the exchange rate an ineffective instrument for this purpose and give fiscal policy a sizeable role. These conclusions are supported by regression analysis of the determinants of the current account balance and of the trade balance. The results show little or no relationship with the exchange rate and, especially for the less diversified oil exporters, a strong relationship with the fiscal balance or government spending.     

The role of innovation in driving the economy: Lessons from the global financial crisis

The global financial crisis hit nearly every country in the world, devastating their economies, decimating the financial resources of their companies and citizens, and nearly collapsing the banking systems in their countries. While risky financial instruments and bad home lending practices receive much of the blame for this downturn, too few innovations introduced in the years leading up to the crisis also contribute to this collapse or, at a minimum, deepening the resulting recession. This paper draws on theoretical literature and contemporary media accounts, building the argument for a significant impact of innovations on the economy and its potential role in pulling the US economy out of the financial crisis. The paper develops propositions based on this review and discusses implications for staving off future economic difficulties.     

Cross-cultural adjustment of expatriates: The role of emotional intelligence and gender

The study examines the role of emotional intelligence (EI) in cross-cultural adjustment (CCA) of expatriates on international assignments. Based on a sample of 269 French expatriates operating in 133 countries, our analysis finds a significant and positive relationship between EI and expatriates’ general living, interactional and work-related CCA. Additionally, it shows that cultural similarity only facilitates general living adjustment and not interactional or work adjustments. Finally, our analysis reveals an interesting interaction effect between gender and the ability to appraise and express emotions: the influence of the latter on all three dimensions of CCA tends to be slightly stronger for male than female expatriates. The study offers important practical implications for organizations concerning the identification and development of successful expatriates.     

Facilitating expatriate adjustment: The role of advice-seeking from host country nationals

The expatriation literature consistently suggests that expatriates on assignment require a great deal of support to adjust to their new environment. This study examines the potential of host country national (HCN) coworkers as an important yet often overlooked source of support for expatriates. Analysis of survey data collected from 350 expatriates working in the U.S. indicated that expatriates who sought advice from HCN coworkers reported higher levels of work and interaction adjustment. This study also found that expatriates were more likely to seek advice from HCN coworkers they perceived as being credible and likable. Implications for research and managerial relevance are offered.     

Correlations in emerging market bonds: The role of local and global factors

This paper empirically assesses co-movements in emerging market bond returns and disentangles the roles of external and domestic factors during episodes of heightened market volatility. The conceptual framework, set in the context of asset allocation, allows us to describe the channels through which shocks originating in a particular emerging or mature market are transmitted across countries and markets. We show that a simple measure of cross-country correlations, when presented together with the more commonly used average correlation coefficient, can be more informative during episodes of heightened market volatility. Data for the period 1997–2008 are analysed for evidence of true contagion and common external shocks.     

Strengthening the satisfaction loyalty link: the role of relational switching costs

Marketing Letters - The extant retail research has placed much emphasis on understanding customer switching and the concept of switching costs (SCs). However, the empirical evidence is inconclusive...     

The adjustment mechanism in the Euro Area

This paper analyses the adjustment mechanism in the euro area prior to the crisis. Results show that the real exchange rate adjusted to redress cyclical divergences and that after monetary unification, real exchange rate dynamics became less reactive to country-specific shocks but also less persistent. Regulations affecting price and wage nominal flexibility and employment protection play a role in the adjustment mechanism. Indicators of product and labour regulations appear to matter for both the reaction of price competitiveness to cyclical divergences and for the inertia of competitiveness indicators.     

Developing career capital for global careers: The role of international assignments

Creating organizational processes which nurture global careers is a key task for global companies. International assignments are normally viewed as positive by both individuals and organizations for the development of global career competencies. This paper reports a qualitative study into the effects of international assignments on global careers. The research takes account of the dual dependency within global careers by contrasting individual and organizational perspectives. It highlights the importance of informal norms and develops a more nuanced picture of the impact of an international assignment on the career capital of individuals within one global organization.     

More on the role of switching costs in service markets: A research note

The present paper focuses on several important and under-researched issues related to switching costs (SC) as a defensive marketing tool in retaining customers with complaint handling. While most previous research analyzed the effects of SC on the behavioral intent of customers, our findings have focused on the actual behavior of bank customers; that is, staying with or leaving the bank to which they had complained previously. The findings show that, of the six potential facets of SC, only two significantly affect the actual behavior of complainants, one directly (i.e., Continuity Costs) and the other as a moderator (i.e., Learning Costs). Likewise, a customer's evaluation of the complaint handling affects behavior directly.     

中韩贸易发展及其不平衡问题分析

自1992年中韩两国建立正式外交关系以来,两国的贸易关系进入快速发展轨道。双方贸易额迅速扩大,依赖程度提高。随着两国经贸往来的不断扩大,贸易不平衡问题在两国贸易关系中越来越突出,影响了中韩经贸交往的健康发展。为解决中韩经贸不平衡问题,韩方应取消降低对从中国进口产品的贸易壁垒式歧视性限制,加大对中国产品的进口;提高我国产品的质量,提高韩资企业对我国原材料和辅助材料的使用率;推动两国在投资领域全方位、多层次合作;加快双方进出口商品结构的调整,解决进出口统计的差异。     

Commentary on “The role of innovation in driving the economy: Lessons from the global financial crisis”

This commentary reacts to an article by Hausman and Johnston advocating innovation and entrepreneurship as keys to solving the current global financial crisis published in this special issue. The commentary is a valuable resonance board for my own ideas that, in some respects, deviate from those of the authors. I start from a partially different paradigm than the authors, as my theoretical platform is a new science of marketing and service that emerged during the 2000s. I find many of the suggestions logical and thoughtful, but primarily academic and US-centric. Will they work in practice, and especially on a global scale? I think the suggested solutions will work under certain conditions, but the world is imperfect and the necessary conditions are often absent. For example, the article shows confidence in the ability of governments to regulate and control and of research to contribute with more advanced metrics. Here I have doubts. I also find economic and management disciplines require new aspects for proposed solutions to work. Among these new aspects are the lack of genuine corporate social responsibility, growing corruption and crime, and the role of financial leaders whose behavior opened a new research field called “corporate psychopathy.”     

The effects of structural adjustment programmes

Many developing countries are trying to improve their economic conditions by means of structural adjustment programmes. The following article points out the weaknesses of such programmes and draws conclusions about the support that should be given to economic reform in developing countries in the future.     

The new protectionism and the limits of structural adjustment

However sharp the clash between the industrial countries' notions of a world economic order and those of the developing countries, one point is gaining increasing importance for both camps: the fight against spreading protectionism. Rising import barriers in the North restrict the developing countries opportunities to increase their foreign currency earnings, to come to grips with their debt problems and to push ahead with industrial development. Those concerned with economic policy in the North fear an escalation of trade discrimination that would gradually neutralise the allocative function of the market, hamper recovery from the present recession, encourage inflation and lead to the inefficient organisation of production throughout the world. Why is protectionism so difficult to halt in spite of the unanimous condemnation of it?