Mexico： Old Friend, New Exchang

Whenever talking about Mexico, I often recall a romantic scene:a handsome young man wearing a big straw hat,singing a love song and playing along a guitar to his loved girl that is hiding behind the curtain of her bedroom's balcony.When we met H.E.Mr.Jorge Guajardo,the Mexican Ambassador to China,the image of this passionate,hospitable and energetic nation became more vivid and clearer. He arrived in China just two months ago,hut he has actively taken on his job in order to enhance the business,cultural and political ties that both countries have kept for long.After the interview with him,this lovely and admirable young Ambassador and our report- ers nearly became good friends. By Editor     

Industrial Policies in France: The Old and the New

Industrial policy is mainly sector based in France, moulding industrial specialization and often promoting “grand projects.” It intended to make use of economies of scale, specifically in technologically sophisticated sectors and has been labelled as High Tech Colbertism. The European unification and the Single Market Programme has to some extent converted European industrial policy to the horizontal approach, banning sectoral activities, promoting framework policies, and a sound macro economic policy. The Lisbon strategy then designed a new agenda for growth which acknowledged a gap in competitiveness relative to the USA. In France new initiatives were launched in the past decade, which to some extent are echoing the French type of industrial policy. Regional cluster programs (“poles de competitivité”) were introduced, an industrial innovation agency and a national research agency were founded and the Oseo program promotes small and medium firms. The history, preconditions and chances of the new initiatives are analysed.     

老市场里的新CEO

<正>在北京爱淘货的MM圈子里,几乎没有人不知道万通新世界商品交易市场的。早在1996年,万通市场曾以高档商城的经营业态出现在京城。当时社会上还流行"东有燕莎,西有万通"的说法。但是,由于缺乏对区域经营环境的深入考查,万通商场的经营业绩日渐窘迫。而到了1998年,北京日常生活类的小商品市场却正进入了一个蓬勃发展的时期。这时,万通市场做出了这样一个决定——由高档商城转型为小商品市场。这个看似冒险的举措后来带来了很大的成功。     

A Note on Global Welfare in Pharmaceutical Patenting

This paper revisits the question of whether global welfare is higher under a uniform world‐wide system of pharmaceutical product patents or with international rules allowing low‐income nations to free‐ride on the discoveries of firms in rich nations. Key variables include the extent to which free‐riding reduces the discovery of new drugs, the rent potential of rich as compared to poor nations, the ratio of the marginal utility of income in poor as compared to rich nations, and the competitive environment within which R&D decisions are made. Global welfare is found to be higher with free‐riding across plausible discovery impairment and income utility combinations, especially when rent‐seeking behaviour leads to an expansion of R&D outlays exhausting appropriable rents.     

A New Look at Old Coefficients

For more than 50 years, numerous studies have shown low price–quality correlation coefficients, mostly close to 0.2. That prices fail to function as valid indicators of product quality has been interpreted as informational market failure. This article, however, argues, that, according to the economic theory of price formation, prices are not an indicator of quality, but an indicator of scarcity. This allows the conclusion that workable consumer goods markets, at least as seen from the consumer’s point of view, should be characterized by low or even negative correlation coefficients rather than by strong positive coefficients.     

A Strategy Change for Europe: Old Myths Versus New Roads

Despite the substantial economic and political problems currently, it is important to recall that European integration has by and large been a success. However, restarting economic growth now should not follow the old trajectory, nor should it be built on old myths. It should start from a new vision with a much stronger emphasis on social and ecological investment.     

产业集群:黑龙江老工业基地振兴的新视点

产业集群理论是一种值得重视的区域发展理论,在成本、效率、品牌和区域创新等方面具有竞争优势。黑龙江老工业基地振兴采用产业集群战略,对加快技术创新,扩大招商引资力度,吸引人才,解决就业,具有重要的现实意义。     

Entry,Growth and Patenting in Industrial Clusters: A Study of the Aerospace Industry in the UK

This paper studies how firm performance is influenced by the strength of the industrial cluster (or industrial district) in which it is located. The paper presents estimates of firm-level employment and patent growth models for a range of '5-digit' aerospace industries in the UK. In these models, employment in the firm's own sector and employment in other sectors is taken as a measure of the strength of the cluster. Strong positive clustering effects are found in many sectors, but nevertheless some clustering effects are negative. Entry into clusters of this industry is also examined and some sectors are found to attract new entry while others are only attracted.     

对新工业体系背景下振兴东北等工业基地的认识

振兴东北等老工业基地的战略决策的关键是用新思路、新体制、新机制、新方式，探索出一条新工业体系背景下加快老工业基地振兴的新路子。用经济全球化的眼光准确定位，从改变体制和机制入手，通过企业振兴带动区域经济发展，形成规模效应，促进经济和社会协调发展。     

上市公司新旧准则衔接相关问题探讨

<正>上市公司从2007年1月1日起开始执行新会计准则,并以2007年1月1日为首次执行日,按照《企业会计准则第38号——首次执行企业会计准则》(以下简称"38号准则")的规定,对新旧准则衔接的相关项目进行调整。笔者根据对部分上市公司新准则执行情况的调研及其年报披露信息,对上市公司新会计准则转换及执行中存在的较为普遍的问题加以归集并与大家一同探讨。     

Unfair Consumer Contract Terms Under Macedonian Law: How the Old and the New Function in Practice

This article analyses the functioning in practice of the system of substantive regulation of unfair terms in consumer contracts, introduced into Macedonian law as part of the harmonization obligations of the EU accession process. Specifically, the article seeks to establish the possible reasons for the absence of substantial evidence of application of the rules on unfair contract terms in consumer contracts in Macedonian practice. In providing an explanation, the focus is on the transposition of the consumer acquis and the Unfair Contract Terms Directive into national law, the enforcement structure for consumer law, and the relationship with the pre-existing civil law. In sum, the inconsistencies and incompleteness of the transposition, the weak and complex enforcement structure, as well as the unsettled relationship with the already existing civil law rules on similar topics have all contributed to weaken the practical significance of the special law on unfair contract terms.     

The Propensity To Sue: Why Do People Seek Legal Actions?

Tort costs as a fraction of U.S. GDP have increased over three-fold in the past 50 years, now hovering slightly above two percent. Although there has been much ink spilled blaming the plaintiffs’ bar and so-called hellhole jurisdictions, less has been written about the behavior and attitudes of individual plaintiffs. Using a unique survey from the RAND Corporation, this paper empirically analyzes the perceptual and economic factors that affect the decision of an injured party to seek legal action. We find that, independent of economic incentives, perception of fault is the most important factor in the decision to make a claim. On average, a person who blames another person or firm for his or her injury is four times more likely to claim regardless of the type of injury involved. Unsurprisingly, the severity of injury—either as perceived by the claimant or as measured by actual injury during the accident—is another key factor in explaining the claiming rate. Also, as expected, there is a negative relation between age and claiming behavior. Somewhat unexpectedly, whether the person has had experience with filing before has no independent effect on the decision to claim. JEL Classification K41     

BULGARIA, Old Friend Eyes New Trade Cooperation with China

Bulgaria, one of the earliest countries to establish diplomatic relations with China in 1949, joined the European Union（EU） on January 1, 2007. This event has great significance in boosting bilateral reations between Bulgaria and China.In March,China＇s Foreign Trade interviewed H.E.Mr.Angel Orbetsov,Ambassador of Bulgaria.“Let me emphasize that the Republic of Bulgaria and the People＇s Republic of China enjoy traditional relations, wich have been thiving logn before our accession to the European Union.”Angel Orbetsov said. The follows are his comments.     

Strategic Risk-Taking Propensity: The Role of Ethical Climate and Marketing Output Control

In the wake of the current financial crises triggered by risky mortgage-backed securities, the question of ethics and risk-taking is once again at the front and center for both practitioners and academics. Although risk-taking is considered an integral part of strategic decision-making, sometimes firms could be propelled to take risks driven by reasons other than calculated strategic choices. The authors argue that a firm’s risk-taking propensity is impacted by its ethical climate (egoistic or benevolent) and its emphasis on output control to manage its marketing function. The firm’s long-term orientation is argued to moderate the control–risk propensity relationship. The authors also extend research on risk and performance and argue that the association of risk-taking propensity and firm performance is contingent on the ownership (publicly traded versus privately held) structure of the firm. Based on survey data from a sample of manufacturing industries in the United States, the results show significant impact of ethical climate and marketing output control on a firm’s risk-taking propensity; also risk-taking propensity shows a stronger association with firm performance in privately held firms than in publicly traded firms.     

Business Education and Management Training in the Old and New East Central Europe

This paper focuses on business education and management training in the old and new East Central Europe-that is, in a historical perspective. Emphasis is given to social and cultural settings in which such learning and teaching take place. The paper investigates the structure, the conduct, and the performance of the business education 'industry' in the region. We conclude the essay with a series of specific recommendations.     

Consumer Self-Confidence in Wine Consumers: The Role of Knowledge-Based Factors

This study uses the Wine Self-Confidence Scale (WSCS) with a sample of 297 customers of ABC Fine Wine and Spirits, a Florida-based retailer, to examine aspects of self-confidence in wine purchasing. The results indicate that two knowledge-based self-confidence factors (information knowledge and persuasion knowledge) were predominant for these consumers. The study showed strong support for the WSCS, which was developed as a measure of self-confidence in wine buying by Olsen, Thompson, and Clarke (2003) and how these relate to reliance on personal experience.