中国对外直接投资的发展趋势与政策展望

中国已是世界上对外直接投资最大的发展中国家,也是全球第五大对外直接投资大国。中国对外直接投资与发达国家和发展中国家过去的投资模式不同,而是遵循一种价值链延伸型的发展趋势。中国的对外投资政策,已经朝着符合中国对外直接投资发展趋势的方向改变,但是,不管是战略层面,还是核准与管理制度层面,以及促进政策方面,要有效地支持中国当前和未来相当长一段时期内的价值链延伸型为主的对外直接投资,还需做出一些调整。     

产业集群驱动的工业化道路——重新解读“温州模式”

通过对“温州模式”的研究,发现温州遵循“开放-发现-创业-扩散-升级”这样一条产业集群驱动的工业化道路,其发生机理是由于开放,增加了同外部市场接触的机会,发现了市场信息并完成了初始资本的积累,当企业家能人出现、开始在某地创业时,本地工业化进程便随之启动。     

我国对外开放战略的跨越式发展--从特区建设到“一带一路”

中国改革开放从特区建设到“一带一路”的实施推进,经历了设立经济特区、进一步开放沿海城市、沿江沿边和内陆省份开放、加入WTO和“一带一路”五个阶段,并表现出鲜明的特点。我国对外开放战略,具有渐进性、阶段性和互利性,对“一带一路”战略的有效实施有着重要的作用。     

新时期农民工回流问题研究

当前,受全球金融危机的影响,我国出现了近几十年来罕见的农民工回流现象。文章运用CES经济增长模型对新形势下农民工回流问题进行实证分析,发现城市产出水平、城市工资水平、资本价格、农村收入、农村劳动力外出打工付出的成本、城市失业劳动力总量等是影响农民工回流的主要因素,并提出了解决农民工回流问题的针对性措施。     

Behavior patterns of investment strategies under Roy’s safety-first principle

The safety-first principle is a natural motivational factor in decision making, and is closely related to certain popular heuristics such as satisficing. We provide a systematic analysis of optimal portfolio choice under Roy’s safety-first principle by examining and comparing the behavior patterns of three popular investment strategies: the optimal constant-rebalanced portfolio, dynamic-rebalanced portfolio and buy-and-hold strategies. Our results indicate the importance of a match between the investment strategy, the investment goal, and the investment horizon. We also develop a geometric approach to investigate the relationships among the safety-first, expected utility, and mean-variance models and offer an explanation for the long-standing debate concerning different patterns of time-diversification effects.     

融入策划思想的规划思路探讨——以同里景区控制性规划为例

经济全球化的大背景下,投资体制、资源和利益分配体制都快速的摆脱原来计划经济的轨道,越来越受市场规律的引导和制约,在投资渠道越来越多元的今天,建设程序也有了很大的不同,这些变革都要求我们在规划过程中打破原来以物质空问规划为重心的规划方式,全方位的革新规划的技术方法和思路.为了在规划过程中真正理解规划实施的最重要因素"市场需求",我们尝试在同里景区控制性规划中借鉴市场营销等方面的理论,引入市场策划的思想,力求让规划成果兼顾投资方利益以及公共利益,使之在实施过程中具有更高的可行性和可操作性.     

物流信息系统监控在制造型工厂的应用与思考

从QCD角度,阐述了均衡性、先入先出(FIFO)遵守率、送货准时率的内容、指标及计算方法,介绍了2011年度神龙公司襄阳工厂运用零件流系统后台数据监控物流作业标准化取得的效果,同时指出了后期改善的方向.     

Computing DSGE models with recursive preferences and stochastic volatility

This paper compares different solution methods for computing the equilibrium of dynamic stochastic general equilibrium (DSGE) models with recursive preferences such as those in Epstein and Zin, 1989, Epstein and Zin, 1991 and stochastic volatility. Models with these two features have recently become popular, but we know little about the best ways to implement them numerically. To fill this gap, we solve the stochastic neoclassical growth model with recursive preferences and stochastic volatility using four different approaches: second- and third-order perturbation, Chebyshev polynomials, and value function iteration. We document the performance of the methods in terms of computing time, implementation complexity, and accuracy. Our main finding is that perturbations are competitive in terms of accuracy with Chebyshev polynomials and value function iteration while being several orders of magnitude faster to run. Therefore, we conclude that perturbation methods are an attractive approach for computing this class of problems.     

Bank ownership,privatization, and performance: Evidence from a transition country

This paper combines the static effect of ownership and the dynamic effect of privatization on bank performance in China over 1995–2010, reporting a significantly higher performance by private intermediaries – joint stock commercial banks and city commercial banks – relative to state-owned commercial banks. However, publicly traded banks, subject to multiple monitoring and vetting in capital markets, perform better regardless of ownership status. The privatization of banks has improved performance with respect to revenue inflow and efficiency gains in the short- or long-run (initial public offerings). The positive long-run effect is more relevant and significant for banking institutions with minority foreign ownership. Moreover, this paper innovatively estimates interest income efficiency and non-interest income efficiency at the same time. The results suggest that Chinese banks are much more efficient in generating interest income than raising non-interest revenue, although the latter aspect has improved significantly during the sample period.     

天津农村金融环境保护投融资的路径优化研究

农村环境保护是事关解决＂三农＂问题和城乡统筹发展的公共事业。目前资金问题已成为制约新农村建设中环境保护目标能否实现的瓶颈。本文探讨了天津新农村建设中环境保护投融资的基本现状和困境,并在此基础上试着提出优化天津农村环境保护投融资路径的建议,包括引入多元化的投融资主体和方式、完善投资回报补偿机制、建立城区补偿农村环境机制以及完善投融资的政策法规保障等。