Int'l Cooperation Zone under Construction in Jilin

An international cooperative demonstration zone is to be built in Northeast China's Jilin Province to boost cross-border cooperation in the region,according to a press conference held in Beijing on May 21. The zone,named Tumen River Area (Hunchun) International Cooperation Demonstration Zone,is located in Hunchun,a port bordering Russia and DPRK.It covers 90 square kilometers and includes four functional zones in terms of foreign trade cooperation,international industrial cooperation,Sino-DPRK and Sino-Russia economic cooperation.     

Hebei Sets Sights on Coastal Economy

Hebei Province is setting its sights on the economic development of its coastal area and the gtate Council has officially approved the development plan. "The Hebei Coastal Area Development Plan,upgraded to a national strategy,is a great event in Hebei's history.The province will make full use of this advantage and make itself an important growth center in Bohai Bay," said Zhao Yong,deputy governor of Hebei,at a press conference organized by the State Council Information Office on Dec.1.     

乌鲁木齐市城市化对土地利用结构的影响

利用乌鲁木齐市近年来的相关统计数据,分析了该市城市发展、土地利用结构变化情况、城市化对土地利用结构的影响.结果表明:乌鲁木齐市已进入城市化快速发展的关键期,产业结构逐步趋向合理,农用地向建设用地转化迅速,城市化对土地利用结构产生了有利与不利的影响,因此应该采取调整产业结构、制定城市空间发展战略、充分利用地下空间、建立土地利用动态监测与土地利用结构预警系统等措施促进土地利用结构变化与城市化协调发展.     

从供给视角看我国房地产市场的“两难困境”

本文通过理论模型解释我国房地产市场两难困境的内在机制,提出各参与主体的博弈行为与房地产泡沫的制度逻辑:一方面地方政府土地出让和开发商的垄断造成房价过高;另一方面地方政府投资又依赖于土地出让收入。中央政府面临两者之间的权衡。本文提出,地方政府的利益是地价和房价上涨的根本原因,开发商垄断是高地价和高房价的直接原因。我们认为,大力建设保障性住房,并发展高端房市场是解决房地产市场两难处境的有效手段。     

三维社会资本与创业机会识别特质关系研究——基于“中三角”336份调查问卷的实证分析

自中国进入“L”型增长以来,“双创”已渐成为“中三角”地区突破增长瓶颈、实现经济发展转型的重要途径。基于社会资本角度分析创业机会识别特质的影响因素,对正确应用社会资本识别和开发创业机会、促进创业能起到重要作用。本文依据Nahapiet的社会资本理论,引入关系维度、结构维度和认知维度3个变量,通过SEM模型来探索社会资本对机会识别的可行性和盈利性的影响作用。结果表明社会资本的3个维度均与可行性和盈利性正相关。     

The causal structure of bond yields

This paper implements an emerging data-driven method of directed acyclic graphs to study the contemporaneous causal structure among the federal funds rate and U.S. Treasury bond yields of various maturities. Using high frequency daily data from 1994 to 2009, we find that innovations in the two-year Treasury bond yield play a central role. They contemporaneously cause most other bond yields. Therefore, monetary policy makers would benefit from closely monitoring the two-year yield in setting the interest rate target, a result echoing the policy rule suggested by Piazzesi (Journal of Political Economy, 2005). Both Fed and investors should also watch the seven-year bond yield because it explains significant portions of variability in many other yields.