专家点评汽车配件案 何为贵？“和”为贵

2005年7月，笔者在布鲁塞尔欧盟总部、国会访问。国会的官员透露，欧盟正准备和中国打两个贸易战，一个是针对中国鞋的反倾销，一个就是汽车配件的关税问题。2006年4月初，欧美共同把中国汽车关税案告到了WTO争端解决机制，汽车配件案急剧升级。该案更多具有官方性质，涉及的是关税政策，自然中国政府是案件的第一责任人，所以我们没有见到中国企业的积极反馈，案子一下子就走入了WTO似乎快了点。     

Emerging Stars and Developed Neighbors: The Effects of Development Imbalance and Political Shocks on Mutual Fund Investments in China

This paper examines the influence of regional economic development on mutual funds investment decisions. Using fund holdings from 2003 to 2008, we find that Chinese mutual funds that collectively reside in the developed coastal region have the ability to select “star” firms from neighboring inland areas and overweight them in their portfolios. However, they present a clear local bias within the coastal region. Such investment behavior is robust to political interventions. In particular, changes in political climate make mutual funds seek fundamentals like growth prospects and diversification benefits. Overall, economic and political factors significantly influence mutual funds investment decisions in emerging China.     

What is the value of networking? An examination of trade show attendee outcomes

Business events have become a key sector of growth in the events industry. However, there is a paucity of empirical studies that examine the outcomes that participants derive from these events. This study aims to address this by specifically focusing on one objective of business events—networking. A case study approach was used to explore how organizers design events for networking and the outcomes that participants gain from events. Findings revealed that objectives differed based on the type of attendee and attendees typically followed up with 20–30% of contacts after the event, indicating that the use of networking technologies could enable more valuable connections to be made.     

INTERNATIONAL BANK FLOWS TO EMERGING MARKETS: INFLUENCE OF SOVEREIGN CREDIT RATINGS AND THEIR REGIONAL SPILLOVER EFFECTS

We examine whether changes in sovereign credit assessments help determine international bank flows to emerging countries. We focus on the bank flows of G7 countries to a sample of 55 emerging market borrowers for 1995–2008. We find evidence indicating that sovereign credit rating revisions have significant and positive influences on international bank flows from developed markets even after controlling for other determinants. In addition, we find strong regional rating spillover effects. Ratings improvements in one emerging market region tend to reduce bank flows to the other regions. However, there is an exception from the Asia Pacific to Eastern Europe.     

Inflation Developments in the Euro Area Since the Onset of the Pandemic

There is hope that the Russian war on Ukraine could expedite the energy transition in Europe leading to a new and more environmentally sustainable steady state.

     

Foreign exchange exposure: Evidence from the U.S. insurance industry

We study the foreign exchange exposure of U.S. insurers. The evidence shows that no systematic difference exists in the currency risk profiles of life and non-life segments within the insurance industry. This suggests that life and non-life insurers have similar risk exposure management strategies arising from similar risk pooling and financial intermediary functions. The empirical results reveal that a sizable proportion of U.S. insurers are exposed to foreign exchange movements against the seven largest U.S. trade partners in insurance services (U.K., Japan, Switzerland, Netherlands, France, Germany and Canada). Significant operational and size effects are also documented and we find that the frequency of foreign exchange exposure increases with time horizon.     

中国、印度和美国，谁更需要谁？

我从来没有去过印度，但在和国际友人的交流中，印度像一个冉冉升起之星不断被提及。Eliza教授去印度前，我们就约定写一点关于中国．印度和美国之间关系的文章。她刚从印度回来就写电子邮件告诉我她对印度复杂的感觉：可以触摸到的贫困差距和极差的公共设施，同时这个国家似乎又进入了国际主流社会，人们说着流利的英语和拥有迅速发展的软件业……