Intellectual Property Rights and Entry into a Foreign Market: FDI versus Joint Ventures

We study the effect of the intellectual property rights (IPR) regime of a host country (South) on a multinational's decision between serving a market via greenfield foreign direct investment to avoid the exposure of its technology or a North–South joint venture (JV) with a local firm, which allows R&D spillovers under imperfect IPRs. JV is the equilibrium market structure when R&D intensity is moderate and IPRs strong. The South can gain from increased IPR protection because it encourages a JV, whereas policies to limit foreign ownership in a JV gain importance in technology‐intensive industries as complementary policies to strong IPRs.     

Social distance between workers: An application to Italian geographic areas

This paper is concerned with the measurement of social distance, clustering, or polarization between workers of a given society. This concept is fundamentally different from that of inequality and thus cannot be measured by any Lorenz consistent index. Similarly, it cannot be additively decomposed into within - and between -group components using classical techniques. A new decomposition method is proposed and applied to Italian workers. The method provides an index that can be used both to calculate the distance between social groups classified according to worker characteristic and to track changes across time. The new method also reveals the factors that are reshaping the wage distribution and allows us to identify precisely where these effects are having their greatest impact.
JEL classification: D30, D63, I32.     

中国外商直接投资的进入模式--对独资倾向影响因素的实证分析

改革开放以来,外商直接投资进入中国的市场模式出现独资倾向.文章探讨了中国外商直接投资进入模式独资倾向的影响因素,实证分析的结果表明,中国的市场规模、开放水平和外商直接投资的工业比重等变量都对其有显著的正影响,而市场化程度以及外商直接投资的服务业比重则对其有显著的负影响.中国经济的增长率对外商直接投资进入模式的独资倾向影响则不显著.     

入世之后中国企业的生存环境与道路选择

经济一体化的发展趋势已使全球正在变成一个单一的市场 ,原先意义上的“国界问题” ,在组织国际生产方面显得无关紧要。在这种环境中 ,中国的企业只有加强竞争力 ,采取无国界竞争营销战略 ,才可能在新世纪得以生存和发展。     

跨国公司在华合资企业股权结构变动的成因--基于一个合作博弈模型的分析

文章从资产专有性理论出发,通过构建合资双方的合作博弈模型,分析了近年来跨国公司在华合资企业独资倾向的成因.文章认为,由于东道国的政策管制,合资企业股权与合资双方的实际控制权并不一致;合资企业的控制权分配取决于在既定市场条件下合资双方拥有资产的专有性,而控制权的分配又决定了合资双方对合资企业创造的组织租金的分配比例.当合资企业的股权结构和控制权结构相背离时,由于存在转移成本,合资双方有内在的动力使它们趋于一致.近年来跨国公司在华合资企业股权结构的变动是在我国开放程度不断扩大的环境下,跨国企业资产专有性相对提高和中方企业资产专有性相对减弱的必然结果.     

加入WTO对中国就业问题的深层次影响

加入ＷＴＯ对中国就业的影响可以从长期与短期以及水平和结构这一两维角度去进行分析。笔者认为，加入ＷＴＯ在长期中必然会通过推动中国经济的发展和产业结构的调整而促进中国就业的增长，而在短期中，由于入世步骤的逐步实施，再加上中国２０年来改革开放政策的执行、市场机制的基本形成以及产业结构调整的提前进行等原因，中国在加入ＷＴＯ后不会出现有些人所担心的那种新的失业高峰。但是，政府的宏观就业管理体制可能会受到更进     

如何设计国际合资企业的控制机制：基于创新视角的一个整合模型研究

随着国际合资企业（IJV）数量不断增加,合资双方都想通过IJV逐步实现自身战略目标,于是对控制权展开激烈争夺,最终导致创新绩效下降。为了解释并避免这个现象,本文以2018年制造业企业创新调查问卷中的225家IJV企业为样本,构建层次回归模型,实证检验了IJV的控制机制与创新绩效间的关系,以及创新资金来源结构的调节作用。结果表明,双方均衡的股权结构能够为IJV带来最高的产品和工艺创新绩效,中方控股的次之,外方控股的最低;IJV知识产权保护与产品创新绩效间存在倒U型关系,与工艺创新绩效间存在显著线性正相关;文化控制对IJV产品创新绩效与工艺创新绩效均有显著的正向影响;创新资金来源结构会显著正向调节知识产权保护与工艺创新绩效间的关系,且外部主导型创新资金来源结构正向调节作用最高,内部主导型次之,均衡型最低。同时为在华IJV掌握控制权并提升创新绩效提出了对策建议。     

外资银行进入的动机、形式及其影响述评

外资银行进入可能会基于不同的动机.母国与东道国之间经济关系的密切程度、东道国中存在的市场机会、准入制度限制是影响外资银行进入模式选择和时间安排的三个重要因素.进入东道国后,大多数外资银行都会采取分行或子公司的组织形式来经营.在东道国经济政策和金融监管等条件到位的情况下,外资银行进入对东道国经济金融发展的正面影响,总体上要超过其负面作用.     

Interaction between foreign financial services and foreign direct investment in Transition Economies: An empirical analysis with focus on the manufacturing sector

This paper studies the nexus between financial and non-financial foreign direct investment in Transition Economies, which are members of the EU. Three questions, which are pointed out in the theoretical literature, are discussed in the paper. We use a dataset for nine Transition Economies over the period 1996–2007, for most regressions we apply GMM and for one regression 2SLS. The empirical results lead to three important statements: non-financial FDI is positively affected by financial services FDI and by market potential. Foreign banks in the EU Transition Economies are mainly driven by non-financial FDI and the capital intensity of a country. FDI crowds out domestic investment in the manufacturing sector.     

An alternative approach to the monitoring of technological diffusion via foreign direct investment: evidence from the Greek manufacturing sector

The existing studies of foreign direct investment and the corresponding technological diffusion process that they generate, focus either on specific parameters of the production process in isolation, or they combine certain parameters to construct indices that are not consistent across studies. The present analysis proposes an alternative approach that captures the entire production process and multinational firms are viewed as the platform that transfers more advanced technologies to the host countries. As multinational firms are able to utilise more efficiently the available production process, an efficiency gap ensues between the domestically owned firms of a country and the multinational firms that operate in it. We capture and provide a measure and a monitoring mechanism of the technological diffusion process via foreign direct investment through the evolution of the efficiency gap between the two groups of firms whilst controlling for other variables that might contribute to such a gap. We apply our approach to the manufacturing sector of the Greek economy that experiences a consistent presence of foreign direct investment inflows over the time period 2001–2007.     

Entry of foreign firms and the R&D behaviour: a panel data study of domestic and foreign firms in China's manufacturing sector

Rapid globalization has resulted in increased competitive pressures. The entry of foreign firms in a host economy increases the level of competition faced by not only the domestic firms but also the existing foreign firms. We argue that domestic firms, especially in developing countries, respond to this situation by increasing their research and development (R&D) spending, whereas the foreign firms decrease their R&D spending. By making use of firm-level panel data from China's manufacturing sector, over the period 2005–2007, this paper investigates the impact of the entry of foreign firms on R&D behaviour of domestic and foreign firms. Empirical analysis, based on Tobit and Instrumental Variables Tobit regression, reveals that foreign entry increases the R&D intensity of domestic firms but its impact on R&D intensity of foreign firms is negative. The estimated results are found to be robust across balanced and unbalanced panels.     

The impact of regulation on productivity growth: An application to the transmission sector of the interstate natural gas industry

We estimate a regulated cost function to examine the contributions of technical change, scale economies, and regulatory bias to productivity growth in an eleven-year, twenty-firm panel of interstate natural gas pipeline companies. We derive the unregulated cost function from the regulated cost function to produce estimates of movements in the unconstrained production technology. We find that the regulation constraint is binding in most years and that scale economies explain 38 percent more growth in the unconstrained production space than they do in the regulation-constrained production space.We are grateful to Gary Biglaiser, David Guilkey, C. A. Knox Lovell, and Helen Tauchen for their suggestions, and to Karen Bauer, Philip Budzik, Ronald Colter, and Mary Streitwieser for their assistance in compiling the data sample. We are also grateful to the participants at the Georgia Productivity Workshop and two anonymous referees for their comments and suggestions.     

加入WTO与我国高新区的发展机遇

高新区是我国发展高科技及其产业的重要模式。在正视加入WTO带给我国高新区严峻挑战的同时，还应该考虑到“入世”带给我国高新区前所未有的发展机遇。     

风险投资的退出方式及其在我国的适用性分析

风险投资的退出机制在整个风险投资中处于核心地位。本结合我国现阶段的实际情况,并借鉴国外尤其是美国的成功经验,提出建立适合我国经济运行机制的三种方式（首次公开发行;股份转让与企业出售;公司清理）风险投资退出机制,并同时对这三种方式在我国的适用性进行分析。     

An investigation into the demand for alcoholic beverages in Canada: a choice between the almost ideal and the Rotterdam models

In this article I investigate the historical pattern of interactions in the demand for three categories of alcoholic beverages in Canada, using both the differential Almost Ideal and the differential Rotterdam demand systems. I evaluate these models based on several decision criteria including model encompassment (based on the J-test), structural stability, conformity with demand theory and the credibility of the estimated price and income responses, in an attempt to determine which of these models is better suited for explaining the demand for alcoholic beverages. The results reveal that both models satisfy the restrictions of demand theory and of structural stability but the Rotterdam model is preferable on grounds of the remaining two criteria.     

Economic and productivity growth decomposition: An application to post-reform China

This paper examines and applies the theoretical foundation of the decomposition of economic and productivity growth to the thirty provinces in China's post-reform economy. The four attributes of economic growth are input growth, adjusted scale effect, technical progress, and efficiency growth. A stochastic frontier model with a translog production and incorporated with human capital is used to estimate the growth attributes in China. The empirical results show that input growth is the major contributor to economic growth and human capital is inadequate even though it has a positive and significant effect on growth. Technical progress is the main contributor to productivity growth and the scale effect has become important in recent years. The impact of technical inefficiency is statistical insignificant in the sample period. The relevant policy implication for a sustainable post-reform China economy is the need to promote human capital accumulation and improvement in technical efficiency.     

Combining choice modelling and multi-criteria analysis for technology diffusion: An application to the uptake of electric vehicles

Efforts to reduce greenhouse gas emissions in the residential sector by adopting technologies such as solar photovoltaics and electric vehicles (EVs) have major implications for the capacity of electricity distribution networks, particularly at local areas with high uptake. Consumer decisions to purchase these technologies are also influenced by several complex criteria such as costs/benefits, performance, appeal/status, risk, psychographics, and demographics. This complexity motivated the development of an innovative diffusion model, incorporating features of multi-criteria analysis and choice modelling, to estimate the adoption of these technology options spatially across the landscape of heterogeneous consumers. We test the model to forecast market share of EVs through to 2030, using the vehicle stock across all 1.5 million households in Victoria, Australia. Seven financial and non-financial criteria were included and calibrated via focus groups and a large‐scale survey. Annual change of criteria values and their elasticity to adoption were incorporated. Geographical differences in uptake of EVs were primarily due to driving distance, employment status and household income, with urban areas having about three times the proportional uptake. By testing the model for a range of incentives, we demonstrate its capability to inform and evaluate policy options.     

Farm price responsiveness and the choice of functional form: An application to rice cultivation in West Malaysia

The estimated responsiveness of farmers to changes in the prices of output or inputs is in general very sensitive to the econometric model used. Using cross-section survey data for farms in marginal rice-growing districts in West Malaysia price elasticities based on estimated input demand equations derived from a quadratic restricted profit function were found to be superior to those derived from translog or Cobb-Douglas production functions or from a translog restricted profit function. The Cobb-Douglas production function is restrictive and should be used sparingly. Restricted profit functions are only believable if the available price data are of high quality.     

Input-output subsystems and pollution: An application to the service sector and CO2 emissions in Spain

The analysis of input-output subsystems provides a useful tool for studying the productive structure of the different sectors of an economy. In this paper we develop this analysis to the study of the CO₂ emissions associated to the group of branches of the service sector. The decomposition of the total production of the services subsystem allows us to decompose the CO₂ emissions into five different components (own, demand volume, feed-back, internal and spill over components). From the results obtained, we can highlight the different roles played by the different branches of services. Transport activities are the services with the highest level of the direct emissions generated in the production of the sector. These activities are required by the other sectors of the economy to a greater degree than they are for their own final demand. Therefore, the production sold to other sectors causes more emissions than its own final demand. However, in the case of other service activities, direct and indirect emissions related to final demand are much more important, due to the strong pull effect of service activities on other activities of the economy. In this respect, Wholesale and retail trade, Hotels and restaurants, Real estate, renting and business activities, and Public administration services should be highlighted. These services receive scarce attention in the design of policies aimed at reducing emissions, but are notably responsible for the major increase in emissions experienced in recent years.