论跨国公司对华投资与我国低碳经济的发展

跨国公司对华投资促进了我国经济的增长,但同时所带来的环境污染等一系列问题对我国低碳经济的发展构成了挑战.1999-2009年间,随着跨国公司对华投资规模的不断加大,尤其是对第二产业的投资,使得我国环境污染严重,对发展低碳经济带来严重挑战.深入研究和妥善解决这些问题,对于促进新时期我国利用外资的进一步发展具有重要的意义.     

TRADE AND DIVERGENCE IN EDUCATION SYSTEMS

This article presents a theory on the endogenous choice of education policy and the two‐way causal relationship between trade and education systems. A country's education system determines its talent distribution and comparative advantage; the possibility of trade by raising the returns to the sector of comparative advantage in turn induces countries to further differentiate their education systems and reinforces the initial pattern of comparative advantage. Specifically, the Nash equilibrium choice of education systems by two countries interacting strategically are necessarily more divergent than their autarky choices, and yet less than what is socially optimal for the world.     

Taxation, growth, and the spirit of capitalism

This paper uses a general two-sector model of endogenous growth to examine how the spirit of capitalism affects the relation between public finance and growth. The spirit of capitalism is defined as acquisitive personal objectives. We find that if the spirit of capitalism is present, an increase in the share of government spending in output reduces the long-run growth rate. The negative relationship between fiscal spending and growth is consistent with empirical evidence.     

Price control and privatization in a mixed duopoly with a public social enterprise

We explore the issue of the optimal degree of privatization for a public firm that does not need to care about its rival’s profit completely. We find that the optimal privatization of a public social enterprise under exogenous price control depends on the level of the regulated price. Namely, when the regulated price is low (medium, high), the optimal privatization is partial privatization (complete privatization, completely public owned). If the price control is optimized by maximizing social welfare, then the optimal privatization is complete privatization. For the case of the traditionally defined public firm, its optimal privatization is completely public owned when the price control is exogenously given. If the price control is endogenously determined, then privatization policy is redundant.     

Testing hysteresis effect in U.S. state unemployment: new evidence using a nonlinear quantile unit root test

We revisit hysteresis effect in the unemployment rate of each of the 52 states of the United States using nonlinear quantile unit root test over the period 1976M1–2016M7. Our results indicate that unemployment rate of the U.S. economy as a whole displays hysteresis effect over recessionary periods. Nineteen out of 52 states display hysteresis behaviour over the period 1976–2016. For the remaining 33 states, we find four types of behaviours. Some states display stationarity behaviour almost in all quantiles. Some display hysteresis over recessionary periods and in contrast some display hysteresis over expansion period.     

China’s Contingencies: Critical Geopolitics,Chinese Exceptionalism and the Uses of History

This paper examines the intimate relationship between narratives emanating from China and their uses of Chinese history, and how such perspectives inform China’s geopolitical positioning and practices in lieu of its purported ‘rise’. Taking inspiration from the deconstructive impetus of critical geopolitics, this article contends that these historical claims to China’s rise constitute deterministic accounts, hinging on the notion of Chinese exceptionalism to provide discursive backing for a Sinocentric geopolitical order in the coming decades. This in turn downplays ‘alternative’ historiographies that can shed light on how the nature of China’s emergence may be more dependent on and shaped by the external environment than previously acknowledged. Building on the historical-geographical expositions related to the idea of contingency, this article demonstrates how China (whether it be in the past or present) cannot be seen as operating in a vacuum but has to constantly negotiate and adjust its strategy of engagements/interactions based on the specific demands imposed by world politics. Specifically, by elucidating these dimensions through cross-strait relations between China and Taiwan, it is argued that understanding China’s contingencies can raise important questions for us to critically appreciate the contextual actors, processes and relationships that differentially impact on China’s engagements in the world.     

Fiscal Stimulus and Endogenous Firm Entry in a Monopolistic Competition Macroeconomic Model

This paper sets up a monopolistic competition model featuring the returns to production specialization. Some novel results are derived from the analysis. First, the effect of a fiscal stimulus on consumption may be positive or negative, depending crucially upon whether the production function is characterized by increasing or decreasing returns to production specialization. Second, following a fiscal expansion, increasing returns to specialization lead to a positive linkage between real wages and aggregate output, while decreasing returns to specialization result in a negative relationship between real wages and aggregate output. Third, a fiscal expansion may raise social welfare, provided that the degree of increasing returns to production specialization is sufficiently large.     

户籍制度扭曲及放松对经济的影响:理论与实证

户籍制度是我国劳动力流动的主要障碍.那么,当前我国的户籍扭曲程度几何?户籍制度放松对经济又会有怎样的影响?对这些问题的回答将有助于政府评估户籍制度改革的空间和经济效益.文章在Hansen和Prescott(2002)的两部门劳动力流动模型基础上,将工人分为农业和非农户口,引入户籍扭曲因子,构建两部门两类工人的户籍扭曲模型;然后,使用1984?2013年宏观经济数据度量户籍扭曲程度,并对2013年我国户籍制度逐渐放松过程中经济变量的变化进行模拟;最后,文章建立了包含农业与非农和本地与外地户籍差异的省份异质性户籍扭曲模型.研究表明:(1)经济和户籍制度改革的不同步导致了1984?2013年我国户籍扭曲程度呈现倒U形变化,且相较于韩国尚有较大的改善空间;(2)以韩国为参照,若2013年我国户籍制度完全放开,经济达到均衡时,农业部门和非农部门的就业人数将分别下降58.83%和上升26.92%,工资率将分别上升19.44%和下降6.77%,社会增加值将增长15.33%,这说明社会经济效率将得到提升,贫富差距将缩小.文章丰富和完善了户籍扭曲的理论模型,从减少劳动力流动摩擦的视角为政府制定相关政策提供了参考.     

Re-testing Prebisch–Singer hypothesis: new evidence using Fourier quantile unit root test

The Prebisch–Singer hypothesis in economics asserts that over time the relative price of primary goods relative to manufactured goods should experience a downward trend. To test the hypothesis, we must first establish the unit root properties of the relative price term and then regress the stationary series on a trend term. We use the quantile unit root test which allows for both smooth unknown numbers and the form of breaks in the trend function through a Fourier function to show that the relative price of 23 out of 24 primary goods is stationary. However, the Prebisch–Singer hypothesis is supported only in half of the primary commodities.     

Integrating the resource-based view and transaction cost economics in immigrant business performance

This paper presents a new integrated framework that integrates the resource-based view and transaction cost economics to explain the phenomenon of immigrant entrepreneurship. We extend the existing literature on immigrant entrepreneurship by identifying different types of ethnic network resources and demonstrating how these resources interact with transaction costs in the context of Chinese immigrants. Thus, our study contributes to the literature by providing a theoretical framework which identifies mechanisms immigrant entrepreneurs use to strategically deploy resources to minimize costs and maximize performance outcomes.