打造“川菜王国“

一个有生命力的区域经济,应该具有这样一些基础条件,一是有优越的资源优势,扎根于当地文化传统,特色鲜明而独特,别人难以取代;二是有广泛而持久的市场需求,这个需求不会因时间的推移而淡化甚至消失;三是产品技术、工艺水平、生产规模始终能够保持领先地位。就四川来说,如何才能形成这种独特的产业结构呢?让我们一起来     

MANAGERIAL STRUCTURE OF BUSINESS GROUPS IN TAIWAN: THE INNER CIRCLE SYSTEM AND ITS SOCIAL ORGANIZATION

This paper examined the management structure of Taiwan's business groups. The objective was to determine how independent group firms coordinate their business. Employing longitudinal data of the top 100 groups, I investigated the “inner circle” system and its evolution. I found that group leaders occupied overlapped positions at the director rather than at the manager level, which implied a separation of strategic planning and routine administration. Secondly, the dynamics of inner circle management did not hinge upon the group president as in the Korean chaebol, nor on the norm of corporate community as in the Japanese keiretsu, but on the social ties in the inner circle. Analyzing the background of the leaders indicated that family never dominated the scene even in the early years, and their significance decreased along with environmental changes. The transition in Taiwan in the late 1980s motivated business groups to introduce more “outside” talent into decision‐making.     

AN ECONOMETRIC APPROACH TO THE MEASUREMENT OF POVERTY

This paper presents a method for specifying and measuring povertydefined as relative deprivation. We base our measure of an individual'spoverty on the distance between his/her consumption experiencerelative to the norm. Consumption experience is defined in termsof events and the modal frequency of an event in the communitydefines the norm. Aggregation over events is made to capturethe objective as well as subjective nature of deprivation. Ourmeasure is related to that proposed by Townsend and econometricestimation is carried out using the Townsend data. Income isfound to be neither the sole nor the most important indicatorof deprivation.     

THE QUALITY OF CURRENT APPROXIMATIONS TO THE MEASUREMENT OF COMPENSATION COSTS

THE measurement of compensating variation, when data is givenon the price and income elasticity of a good, as well as itsbudget share, is examined here. The exact measure is calculatedwhen autility function is specified and the sensitivity of themeasure to the specification is reported. Various approximationsthat do not require knowledge of the utility function are alsotried and compared. Some conclusions are offered as to the relativeaccuracies of various procedures.     

GOVERNANCE INSTITUTIONS AND PRIVATE INVESTMENT: AN APPLICATION TO THE MIDDLE EAST AND NORTH AFRICA

This paper addresses the issue of the low level of private investment in the Middle East and North Africa (MENA) region, with special emphasis on the role of governance. Based on the existing published reports, we categorize what types of governance institutions are more detrimental to entrepreneurial investments. We then estimate a simultaneous model of private investment and governance quality where economic policies concurrently explain both variables. Our empirical results show that governance plays a significant role in private investment decisions. This result is particularly true in the case of “administrative quality” in the form of control of corruption, bureaucratic quality, investment‐friendly profile of administration, law and order, as well as for “political stability.” Evidence in favor of “public accountability” is also found. Our estimations also stress that structural reforms like financial development, trade openness, and human development affect private‐investment decisions directly, and/or through their positive effect on governance.     

USING THRESHOLD COINTEGRATION TO EXAMINE ASYMMETRIC PRICE ADJUSTMENTS BETWEEN ADR'S AND THEIR UNDERLYING SECURITIES - THE CASE OF TAIWAN

Many recent studies have focused on the relationship between American Depository Receipts (ADRs) and their foreign underlying stocks, because of the price interaction and arbitrage opportunities provided by the dual listings. The cointegration and its corresponding error correction model employed in some recent studies assume that the tendency to move towards a long‐run equilibrium is present all the time. However, the presence of costs of adjustments may prevent economic agents from adjusting continuously. As an extension of previous studies, this paper applies the threshold cointegration model that allows for asymmetric adjustment towards a long‐run equilibrium to inspect the linkage between Taiwanese ADRs and their underlying shares. By employing the threshold error correction model, the short‐term adjustments also are examined. We find some evidence of asymmetric adjustments in our data. The tests for asymmetries are also implemented with the maximum likelihood estimation for the complete multivariate threshold cointegration model instead of the univariate model.