Struggling with Destiny: The Cotton Industry,Overseas Trade Policy and the Cotton Board, 1940–1959

This essay provides an institutional approach to the analysis of the Norwegian state's effort to promote industrial development between 1950 and 1980. It explores the extent to which national financial systems influence the ability of governments to intervene in industrial policy. It also explores the extent to which both the governance structures and investment strategies of Norwegian firms have been influenced by government policy. It demonstrates that the financial system is indeed a critical factor in the effective implementation of industrial policy in the period in question.     

Industrial Policy: Past, Diversity, Future; Introduction to the Special Issue on the Future of Industrial Policy

Industrial policy is one of the most controversial policy fields. Its scope, instruments and rational vary across countries, changing over time; intentions and outcomes often differ. This volume brings together reports on countries, highlighting specific problems and concepts. Most papers explicitly state that there has recently been renewed interest in industrial policy, be it the new “matrix” approach in the EU, or other strategies in Japan, the US and France. Problems and solutions differ between frontier countries like Finland and the catching-up economies of the new EU member countries, or the policy strategies in developing countries designed to foster economic growth or complement globalisation. The upcoming new approach to industrial policy all hints at a more systemic industrial policy, forward looking and emphasizing the synergies with other policy areas, but also fine-tuning to specific needs, comparative advantages and future technologies.     

中美贸易摩擦成因中的心理、制度和政治因素分析

中美贸易摩擦是当前中国出口贸易中的一个重要问题,也是亟待思考并急需制定有效应对策略的难题,而这其中准确地找出原因又是破解难题的关键所在。鉴于此,本文在总结并指出相关文献存在不足的同时,详细解析了经济贸易理论为何难以给出富有说服力的解释;在此基础上创新性地从心理、制度以及政治角度研究了中美贸易摩擦的成因,并给出了一个综合分析框架。     

A Critical Reflection on Irish Industrial Policy: A Strategic Choice Approach

This paper offers a critical evaluation of recent Irish industrial policy (IP) experience. It argues that whilst Ireland managed to get some things “right” through its IP, substantial tensions arose through making foreign direct investment (FDI) attraction the centrepiece of policy, without at the same time adopting a more holistic approach in IP which inter alia also placed an emphasis on indigenous firms and entrepreneurship more generally. In particular, greater efforts should have been made much earlier in attempting to embed transnational corporation (TNC)-led activity better into the wider economy, in fostering domestic small firms and entrepreneurship, in promoting clusters, and more generally in evaluating IP more fully – notwithstanding the context which mitigated against such actions. As a result, Ireland as an economy remained vulnerable to strategic decisions made elsewhere by TNC decision makers, with IP effectively contributing to a situation that can be characterised as institutional and strategic failure. Overall, the paper suggests that wholesale emulation of the Irish IP approach is problematic.     

产业政策实施效果的分析与述评

产业政策与市场机制都是资源配置的手段,对待产业政策不能简单地作出有效还是无效的判断;产业政策作为弥补市场失灵的一种制度安排,必不可少,对于推动经济社会的发展至关重要。但是,具有存在必要性的产业政策并不意味着其实施一定会带来积极的影响。如果产业政策脱离了其实施的范围、条件,则很可能由于不能成功实施而归于无效。同时,产业政策的失效并不意味着全面否定其存在的必要性,借口产业政策失效而取消它的存在、滑向市场万能论也是不可取的。     

A Puzzle in SRI: The Investor and the Judge

As Socially Responsible Investment (SRI) enters the mainstream of professional and institutional investment practice, some perplexities arise. Some SRI market participants are well schooled in finance but are hesitative as to how to apply non-financial criteria in the management of portfolios. Governments too are giving SRI more attention and, in some countries, are discussion whether and how to regulate the SRI market. Advocacy groups are targeting SRI projects through media campaigns using political discourse. Many of the pertinent questions that come with these perplexities are of the philosophical or ethical type and concern legitimisation, demarcation of responsibilities, interpretation of norms and policy formulation. The inclusion of non-financial criteria into investment decision-making leads to a ‹puzzle in SRI’ for which this article offers a solution. The puzzle arises when the day-to-day implementation of an SRI-policy coincides with the process of administering justice. Three questions make up that puzzle: (1) what should an␣investor do when allegations arise about a corporation, (2) what should an investor do when a corporation is brought before a court, (3) what should an investor do when a corporation is found guilty by a court. This article argues, by distinguishing between the rationality of the investor and that of the judge, that allegations, court cases or court verdicts should not be reasons to disinvest from a corporation. This article offers examples from investor practice and points out in which way allegations, court cases and court verdicts make sense for investor behaviour.     

试论我国行业管理法的地位与体系

行业管理法是经济法体系中的一项法律，但是从宏观和微观的分类上行业管理法既不属于宏观经济调控法，也不属于微观的市场规制法，从其功能上来说行业管理法属于调整中观管理的经济法，行业管理法体系包含行业管理基本法、行业管理部门规章以及行业协会的自治规范等内容，具有指导思想和制度规范的立法，行业管理法对于促进行业领域的正常运行具有重要的意义。行业管理法与产业政策法规具有密切的关系，两者之间相辅相成，在国家的产业发展中共同发挥着指引和规范作用，研究行业管理法的地位和体系离不开产业政策法的分析介绍。笔者在本文中对行业管理法的地位和重要作用进行了分析，对行业管理法的体系内容也进行了详细的阐述，旨在通过本文的研究让更多人的认识到行业管理法，从而促进行业管理法作用的有效发挥。     

Corporate Environmental Citizenship Variation in Developing Countries: An Institutional Framework

This study focuses on why some companies in developing countries go beyond environmental regulations when implementing their corporate environmental social responsibilities or citizenship behavior. Drawing mainly upon the new institutional theory, this study develops a conceptual framework to explain three institutional factors: companies’ market orientations, industrial characteristics, and corporate identities. Accordingly, we suggest that companies from developing countries that are oriented to markets in developed countries, operate in highly concentrated industries, and have missionary identities adopt corporate environmental citizenship behavior by going beyond environmental regulations. The study also discusses the theoretical, policy, and managerial implications of the conceptual framework.     

农村金融市场四大问题及其演化逻辑

融资困境是影响农村实现效率和公平目标的最大金融瓶颈，需要一个合适的农村金融体系去解除这一瓶颈。但为何已有成熟的城市工商金融体系，不能自然而然地延伸到农村地区，而需要一个单独的农村金融安排呢？笔者认为，原因在于农村金融市场存在四大基本问题：严重的信息不对称、抵押物缺乏、特质性成本与风险、非生产性借贷为主。四大问题的存在，使农村金融市场自然发育状态下出现“市场失灵”和“负外部性”，需要政府介入。但政府介入后，又往往以正式金融制度取代非正式金融制度，进一步恶化农村融资环境，又带来了“政府失灵”。两大“失灵”，使得农村资金的非农化成为常态。若不改变涉农基本制度，缓解两大“失灵”的关键，在于放弃单纯依赖正式金融部门的幻想，构建并运行正式和非正式金融两部门垂直合作型农村金融体系。若要从根本上解决农村融资难题。则需跳出金融去看农村金融问题，突破市场逻辑，改善基本涉农制度。     

The European Commission’s New Industrial Policy in an Integrating and Globalizing World

The European Commission has launched a new industrial policy for Europe in October 2005. While manufacturing industry remains a key building block of the European economy, it faces a number of challenges—as well as opportunities—in the form of rapid technological change; increasing trade and financial integration of the world economy; and the rise of new emerging market competitors. Whilst some sectors are performing strongly, the overall industrial structure of the EU economy makes it less than ideally positioned to face these challenges. The new industrial policy articulated by the Commission is to help the European economy adapt to the new circumstances. In contrast to old policies that sought to ‘pick winners’, the new approach starts from the screening of horizontal policies and framework conditions in terms of their implications for specific industrial sectors. Second, the Commission has integrated policy by bringing more closely together different policy dimensions of key relevance to various industries. Finally, the industrial policy attempts to achieve a greater consensus over policy, through the involvement at an early stage of key stakeholders and Member States in policy making.     

东北三省产业结构高度化和合理化的多维度测度

目前东北地区产业结构性矛盾突出,深刻把握当前产业结构特征,有助于产业政策效果评价和产业政策制定,有益于产业结构导致的经济增长新动力不足问题的破解。依据产业结构高度化的四项特征和合理化所包含四项内容,从多个维度对东北三省产业结构高度化和合理化进行系统测度,结果显示:在东北振兴政策背景下,三省产业结构高度和合理程度得到提高,但主要产业仍是资源型,战略性新兴产业占比不足,应优化东北产业结构,大力发展东北战略性新兴产业,为经济发展增添新动力。     

Industrial policy in the era of global value chains: Towards a developmentalist framework drawing on the industrialisation experiences of South Korea and Taiwan

In this paper, I present a framework for GVC-oriented industrial policy that merges the so-called GVC perspective and the so-called developmentalist perspective—the latter of which is a perspective that industrial policy is most often analysed through, but has been somewhat neglected by the GVC perspective. I argue that the GVC perspective too quickly dismisses the relevance of industrial policy in the East Asian development experience, particularly those in South Korea and Taiwan between roughly 1960 and 1990. By drawing on the industrialisation experiences of these two countries, my framework for industrial policy suggests that the GVC perspective's ideas for industrial policy would be strengthened by more clearly acknowledging the continued importance of three observations by the developmentalist perspective: (a) the need for governments in developing countries to bargain with foreign investors for the purpose of domestic industrialisation; (b) policy design should not only focus on increasing exports, but also focus on replacing some imports with domestic production; and (c) linking up to the value chains of transnational corporations based in high-income countries can bring about some benefits, but ultimately, successful industrialisation necessitates a degree of competing with transnational corporations. State-owned enterprises have historically played an important role in this respect.     

Inequality and endogenous trade policy outcomes

An enduring puzzle in international economics is why trade interventions are biased in favor of import-competing rather than export sectors and therefore restrict trade. In this paper, we show that if the government's objective reflects a concern for inequality then trade policy generally exhibits an anti-trade bias. Importantly, under neutral assumptions, the mechanism that we analyze generates the anti-trade bias independently of whether factors are specific or mobile across sectors. The mechanism also generates an anti-trade bias between large countries even after they sign reciprocal trade agreements that eliminate any terms-of-trade motivation for the use of trade protection.     

食品安全危机下我国乳制品行业制度变迁及政策特征分析

本文基于供给侧改革与消费端刺激的相关理论及制度变迁理论,构建我国乳制品行业制度政策变迁的分析框架,将我国乳制品行业的制度变迁历程划分为减少无效供给阶段、增加有效供给阶段、规范流通渠道阶段和消费升级主导阶段,并结合消费者行为、产业结构和企业行为及政策目标导向等方面的特征,具体分析"三聚氰胺"毒奶粉事件后我国乳制品行业的制度变迁历程、方式与政策特征,并据此提出相应的政策建议.     

政策协调、产业结构升级及宏观经济效应分析

不同模式的宏观政策协调不但会对产业结构优化产生差异性影响,也会影响产业结构优化带来的宏观经济效应。本文在新凯恩斯框架下构建理论模型,并基于贝叶斯参数估计和数值模拟分析政策协调对产业结构优化以及宏观经济效应的影响。研究发现:数量型货币政策比价格型货币政策更有利于产业结构优化,收入型财政政策比支出型财政政策更有利于产业结构优化;价格型货币政策和收入型财政政策的政策协调更有利于产业结构优化对消费、就业和产出的促进作用,数量型货币政策和支出型财政政策的政策协调更有利于产业结构优化对通货膨胀的稳定作用;货币政策对产业结构优化升级这一目标与稳定经济波动这一目标存在着Trade Off现象,财政政策对产业结构优化升级这一目标与促进经济增长这一目标存在着Trade Off现象。因此,建议采取货币政策为主、财政政策为辅的宏观经济调控政策,具体操作体现在减息为主结合降低税率水平为辅的政策协调组合来应对经济增速下滑和产业结构升级。     

Green Marketing: A Theoretical Perspective

The theoretical view of green marketing, derived from within institutional economics, environmental politics, and technological theory, is a multi-disciplinary perspective suggesting that a potential environmental crisis resides not necessarily in specific behaviours but rather within the dominant social paradigm (DSP) of Western industrial societies. Effective policies and strategies then must recognize the crisis as one of paradigms. This paper addresses the failure of contemporary green marketing to move beyond the limitations of the prevailing paradigm. While there are nascent macro developments in marketing thought that might lead to a truly green marketing considering sustainability, holistic thought, and the limitations of the prevailing paradigm, they remain thus far on the periphery of the discipline. They will remain so until a broader, multi-disciplinary approach incorporating the multiple dimensions of the DSP is developed.     

Beyond industrial policy. State intervention in the Swedish electricity supply industry, 1936–1946

As in other Western European countries, the emergence of a national network for electricity transmission in Sweden was accompanied by a greater degree of State intervention in the electricity supply sector. The aim of this article is to elucidate the institutional background to the decision in 1946 by the Social Democratic government to transfer control of the national grid to the Swedish National Power Board. It is demonstrated that this decision not only was linked to a general industrial policy to promote energy supply. It was also linked to the agricultural and cohesion policies which emerged during the 1940s.     

Sustainable water storage by agricultural businesses: Strategic responses to institutional pressures

Management of water storage in agriculture is under increasing public scrutiny. In Australia, water is being stored unsustainably by agricultural businesses, putting communities downstream at risk. Yet, sustainable water storage management institutional policy mechanisms remain disjointed around the country. This study seeks to investigate the problem through application of Oliver's (1991) strategic response typology to a survey of 404 agribusiness managers in four different institutional environments. Findings highlight the importance of social aspects of water storage and sharing in agribusiness regions and industries, and suggest that increased manager connectedness could reduce resistance to water storage policy pressures. The results not only provide beneficial guidance for policymakers faced with potentially catastrophic flood and drought conditions exacerbated by poor water storage management practice, but also add support to those found by Clemens and Douglas (2005), indicating the robustness of this theoretical approach for solutions to modern problems faced by business, policymakers and society.     

Institutional conditions,economic policy uncertainty and foreign institutional investment in China

This paper investigates the influence of host and home country institutional conditions on foreign institutional investment. Utilizing longitudinal and multilevel data on foreign institutional investment in Chinese listed firms between 2004 and 2017, we document that foreign institutional investment decreases with increasing economic policy uncertainty in the host nation. We also find that foreign institutional investors respond more strongly to local economic policy uncertainty when their home nations are closer to China, are culturally and administratively similar to China, operate a smaller domestic stock market, and have weaker minority shareholder protection. The impact of economic policy uncertainty on foreign institutional investment is also stronger when the host nation institution is more developed and open.. Moreover, we reveal the mediating role of stock market volatility on this relationship. Overall, we document that foreign institutional investment is not only shaped by institutional conditions in the host country but also influenced by home country characteristics that define geographical and institutional distance between home and host nations.     

论国有商业银行的双重功能与不良资产的双重成因

国有商业银行所形成的巨额不良资产，需要从其事实上履行的双重功能入手进行解析：国有商业银行在履行基本功能时，由于行业性风险产生的不良资产具有普遍性和内生性；但其在履行公共性功能时。由于承担的政策性风险和支付的履职成本无法分摊导致的超额不良资产，具有特殊性和外生性。因此。降低国有商业银行的不良资产，既要控制行业性风险，更要建立对其履行特殊功能所支付成本的合理分摊机制，并随着市场机制作用的增强从体制上逐步淡化其特殊功能，从根本上解决由外生性原因造成的超额不良资产。