Estimating scale economies in financial intermediation: a doubly indirect inference

This paper provides a vertically integrated modelling of the financial production process. In a first stage the activity of commercial banks or insurance companies embodies some technical and commercial aspects such as services to depositors or mutualization of risk through distribution of contracts of insurance. In the second stage banks are involved in the intermediation activity. By using a simulation and the doubly indirect inference method for the estimation we were able to resolve two main econometric problems: decomposition of aggregated data over two vertically integrated stages of production and inconsistency of the estimators due to endogeneity and misspecification. An application to French Banking industry is provided.     

中国城市经济学前沿课题述要

在中国城市化快速发展时期,城市经济学领域应加强对城市经济学的基础问题、城市发展的成本与效益、城市的可持续发展、城市区域化与管理体制创新、城市公共经济发展、城市文化与文明建设等前沿课题的研究。     

How do independent directors influence innovation productivity? A quasi-natural experiment

Due to managerial myopia, managers may be reluctant to make long-term investment decisions that do not produce immediate results. Effective corporate governance can align managers’ short-term-oriented incentives with shareholders’ long-term interests. Because the board of directors is the paramount governance mechanism, we explore the role of board governance on managerial myopia. In particular, we investigate the effect of independent directors on corporate innovation. To minimize endogeneity, we exploit the passage of the Sarbanes–Oxley Act as an exogenous shock that raises board independence. Our difference-in-difference estimates show that board independence leads to significantly higher investments in innovation as well as higher innovation productivity. Our results are consequential as they show that board governance has a palpable effect on important corporate outcomes such as innovation productivity.     

Economic cost–benefit analysis of the addictive digital game industry

This study attempts to estimate the economic costs and benefits of the addictive digital game industry. Addiction to digital games induces economic costs such as increase in crime, facilities investments for curbing addiction, increase in counselling costs and other welfare losses. As a case study, we investigate the digital game industry in South Korea which is known to have one of the highest rates of game addiction. According to our calculations, the annual cost of game addiction is estimated to be approximately $3.5B while the annual benefit is approximately $24.3B ($3.7B for addicted user market). The proportion of the total costs to total benefits from the game industry is an alarming 14% (95% for addicted user market). We offer some policy recommendations.     

试论企业效绩战略评价体系

企业效绩战略评价主要用来衡量企业管理水平的高低，本从企业效绩战略评价的定义出发，提出企业效绩议价体系的建立原则、框架构成，保障系统及作用。     

维护生态环境安全是粮食安全的首要选择

论述粮食安全的重要性及我国生态环境资源对粮食安全的重大影响,并针对我国在生态环境方面存在的严重问题提出了相应建议。     

国际金融危机与世界经济前景

国际金融危机目前已经发展到第二阶段,其影响从发达国家扩展到发展中国家,从金融领域蔓延到实体经济。2008年发达国家经济已经陷入衰退,全球经济增长率大幅放慢。鉴于国际金融危机还在继续恶化,2009年全球经济增长率会进一步降低。但我们认为,房地产市场2009年下半年可能会趋于走稳,油价下跌,通货膨胀压力减轻,由于主要大国采取政府干预措施以及经济政策的国际协调,全球经济发生20世纪30年代那样大萧条的可能性不大。除了短期内经济衰退之外,这场国际金融危机的中长期影响将是深远的。     

关于服务业集聚研究的若干思考

集聚是产业演化和发展中的一种普遍现象,作为国民经济重要部门的服务业也呈现出明显的集聚趋势。本文从世界各国经济现实出发,首先讨论了研究服务业集聚问题的必要性,接下来回顾了产业集聚理论的主要进展,并对服务业集聚的相关文献进行了综述和评论;在此基础上,结合服务业的产业特征,尝试性地建立了服务业集聚研究的理论框架,具体阐述了服务业集聚的机理及效应、评价指标与影响因素;最后讨论了几个值得关注的研究方向。     

中国草原管理的发展过程与趋势

[目的]在回顾中国草原管理发展历程的基础上,分析其状态及存在的问题,基于最新研究进展,探索和预测未来中国草原管理的发展趋势,为加强中国草原管理理论、方法和实践提供依据。[方法]运用文献资料分析法。[结果]中国草原管理已经历了游牧时期、粗放型管理时期、草畜平衡刚性管理时期。游牧时期,人—草—畜三者关系基本上处于一种自然动态平衡的状态之下;粗放型管理时期,人对畜的需求持续增加致使草—畜关系长期处于一种失衡状态,进而导致草原的大面积退化;草畜平衡刚性管理时期,相应的政策和管理计划方案陆续出台使得草—畜关系失衡状态得到了一定缓解,但仍然没彻底解决人—草—畜三者的矛盾关系问题。[结论]草畜平衡弹性精准管理是当前中国草原管理的主要发展方向,其能够更好地应对草地生态系统时间与空间异质性,确保草地生态系统的良性循环,兼顾市场动态以及政府和牧民需求,实现高效的草地生产力输出。草地生态系统管理以全面实现草地生态系统服务功能为目的是中国草原管理发展的最优选择。     

中西部地区农民工返乡创业支持体系研究——以安徽省阜阳市为例

受2008年金融危机及我国沿海地区产业结构调整的影响,中西部地区农民工纷纷返乡创业,成为推动欠发达地区县域经济发展的重要力量。在分析农民工返乡创业支持体系影响因素的基础上,通过对中西部地区农民工创业现状的调查,结合Logistic回归模型,针对研究结论,提出了从政策环境、创业培训、金融服务、风险预警等方面促进中西部地区农民工返乡创业更好更快发展。