Defence conversion: the westinghouse experience

This pape briefly reviews defence industry trends and how defence contractors are attempting technology conversion, with specific examples.     

Privatisation of the Russian Defence Industry: Ownership and Control Issues

This article analyses the outcome of privatisation in the Russian defence industry in the second part of the 1990s. It is based on the results of the longitudinal survey of defence enterprises conducted over the period 1995‐99 in the main defence production regions of Russia: Moscow, St Petersburg, Central European region, Western Siberia, Volga region, the Urals and the Far East. Using the survey data, we investigate the distribution of ownership in defence enterprises and examine the non-linear relationship between ownership and control inside these enterprises. We also test the hypothesis of the growing criminal influence in defence enterprises and outline a possible future scenario for privatisation in the defence industry.     

为美国政党辩护——列昂·爱泼斯坦《西方民主国家的政党》评介

他们不相信在现代国家中存在一个占人口大多数的团结一致表达自己利益的阶级,大多数人投票支持某个政党的候选人并不意味着这个同样的大多数支持这个党的政策,选民很有可能对政策问题无知或没有兴趣,仅仅根据候选人在竞选中的表现或政党领袖的个人魅力来投票。     

Producer cooperatives: the British experience

The British producer coop movement, though small, is of particular interest because of its rapid current growth and its unusual variety of organizational forms. In this paper, the history, institutional structure, recent development and economic performance of the sector are discussed and policy implications drawn. It is concluded that coops should be particularly aware of problems in management, finance and internal democracy. There remains considerable scope for further public intervention including the formation of specialized support agencies for activities like marketing and training, and to assist in the creation of new coops.     

Cross-border acquisitions: the UK experience

This paper tests a composite empirical model of cross-border acquisitions involving UK firms between 1987–1995 using panel data analysis. The empirical model includes capital market variables and regulatory variables derived from the existing literature. The results show that models that explain cross-border acquisitions through capital market imperfections are not significant. Cross-border activity has a strong relationship with the level of the UK stock market suggesting that crossborder acquisitions are, in some part, an extension of domestic activity. Corporate tax differentials also have significant impact on activity.     

关于创建国防科技工业园的思考

我国的国防科技工业存在着一些问题，特别是在军民关系的处理上，这严重制约了它的发展。结合新的形势，认为创建国防科技工业园，以激励军民良性互动将能够促进国防科技工业园的进一步发展。     

Defence Industry Transformation in Russia: Evidence from a Longitudinal Survey

The article is devoted to the new phenomena in the market transformation of the Russian defence-industrial complex. Based on the data generated by the repeated survey of the CEOs (general directors) of defence enterprises in 1995‐99, it examines economic performance of enterprises, their conflicts with the government and efforts at internal restructuring brought about by reductions of Russia's defence spending, mass privatisation and opening up of the domestic market. We found that despite the dramatic reduction in defence orders, inconsistent government policies and extremely unfavourable macroeconomic environment, the Russian defence industry has made significant progress in its adjustment to the market. Even before the devaluation of the ruble in the autumn of 1998 economic performance of defence enterprises had been gradually improving; it entered a virtual boom since then. Contrary to widely held views, the painful experience of the 1990s has not made the top managers of the defence industry more hostile to reforms: at the end of the decade they were generally more supportive of the market than in 1995.     

雾霾天气引反思看国外如何治理

雾霾是有雾天和污染天相叠加的重污染天气.新年伊始,我国中东部地区持续出现大范围的雾霾天气,多个城市的PM2.5数值突破警戒线,最严重的京津冀地区陷入十面"霾"伏,大气污染十分严重.且持续时间长、影响范围广,为近年来所罕见.     

In Defence of Model-Based Seasonal Adjustment: An Illustration Using Australian Data

It is argued that the X-11 seasonal adjustment procedure suffers from severe drawbacks, and so it should be abandoned in favour of model-based seasonal adjustment. Furthermore, it is argued that Harvey's structural time series model is superior to the conventional seasonal ARIMA models for the purpose of model-based seasonal adjustment. It is shown, with the help of a large number of Australian time series, that the nature of seasonality differs from one series to another, and this is why model selection is crucial for seasonal adjustment. It is further shown that model-based seasonal adjustment could produce results that are significantly different from those obtained by applying the X-11 procedure. Since the X-11 procedure is not based on an explicit model and in view of its other serious drawbacks, it is concluded that the procedure should be abandoned in favour of model-based seasonal adjustment.     

商业银行保增长与有效防范风险论析

全球金融危机对实体经济的影响超出预期，而实体经济的下滑过程也是银行信贷风险的暴露过程。在当前应对金融危机、支持经济健康发展的大形势下，保增长是政府、企业和银行的共同责任，需要各方面共同努力．以降低经济下滑带来的系统性风险。商业银行如何切实承担起自身的社会责任，既促进经济发展又有效控制风险，也成为当前面临的重大挑战。     

产权变动中职务犯罪的防范对策

当前,我国正处于新旧体制转轨时期,国企改革不断深化,资源配置不断优化,生产要素流转日益频繁,国有资产占有单位发生的资产拍卖、转让、企业兼并、联营、出售、租赁等产权变动行为日益增多。在这些产权变动行为过程中,由于存在一些体制弊端和制度漏洞,加上缺乏相应的监督制约措施,没有成熟规范的有形产权市场,使得产权变动中职务犯罪案件不断发生。     

Market empowerment of the patient: the French experience

Through analysis of the French experience, this article explores the way economic policy has sought to encourage active, well-informed patients by giving them market power. The new status of the patient as consumer is based on two foundations: the endeavour to build a healthcare market and the activation of demand-based policies. The keystone of this new system is a conception of the market as a process constructed by economic policy. Recent measures such as the standardization of care and the introduction of incentives to respect a treatment pathway then constitute effective levers to establish a free-market rationale.     

经济人的“再生”:对一种新综合的探讨与辩护

本文力图对经济学帝国主义现象中复兴的新经济人提供一个较明确的描述,纠正倡导者和批评者共通的某些误解。本文的重点是:通过把社会偏好、个人社会价值等概念引入经济人模型的讨论之中,给能纳入这一分析范式的行为(特别是利他行为)确定某些标准;重新界定经济人在不同层次上的理性行为特征,以说明赋予经济人的理性程度将取决于所研究的主题的具体情形;进而,讨论经济人的标准原型及其变型在理论分析中各自适用的范围和局限性。     

Privatization: Reflections on the Eastern European experience

Opinions expressed in this paper are strictly personal.     

The Fisher hypothesis: examining the Canadian experience

In this study the validity of the Fisher hypothesis is investigated for Canada under both fixed and floating exchange rate regimes. An empirically distinction is drawn between the weak and strong form of the Fisher hypothesis. The Johansen-Juselius (JJ) multivariate cointegration methodology is applied to test the weak form while the Phillips–Hansen fully modified ordinary least squares (FM-OLS) technique is used for the strong form hypothesis. The caninical correlations (JJ) methodology has the smallest bias and dispersion and hence is the best among the alternative testing procedures available. The FM-OLS procedure, on the other hand, allows for an unrestricted cointegration test correcting for both endogeneity in the data and asymptotic bias in the coefficient estimates. The Fisher hypothesis is soundly rejected.