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21.
    
Successful development processes involve not only ‘sectorial structural change’, shifts of factors between different productive sectors, but also, ‘institutional structural change’, shifts of factors from unproductive activities (predation) to productive ones. This paper analyzes the feedback process between the sectorial and the institutional structural changes in a model in which the labor share in agriculture is lower than in other sectors. Along the transition sectorial structural change emerges: employment in agriculture declines. Consequently, total labor share increases, raising the reward for working (while discouraging predation) and so, fostering institutional structural change. This, in turn, encourages capital accumulation, promoting sectorial structural change. This feedback mechanism widens differences in productivity and institutions among countries. Whereas zero-cost policies aimed to build institutions have positive effects, costly policies have uncertain effects due to complex feedback mechanisms.  相似文献   
22.
The paper analyzes the effects of four regional integration agreements (Common Market of the South [MERCOSUR], Andean Community [ANCOM], Central American Common Market [CACM] and North America Free Trade Agreement [NAFTA]) on bilateral trade in 19 countries from the Western Hemisphere for the period 1970–2014. For this purpose we estimate different gravity models to control for trade creation and diversion, export diversification and intra-industry trade using OLS log-linearized gravity model and Poisson pseudo-maximum-likelihood panel data estimators that allow controlling for zero-value trade flows. We find trade creation for ANCOM, MERCOSUR and CACM and trade diversion for NAFTA and MERCOSUR countries. Export diversification negatively affects bilateral trade in all American agreements, while intra-industry trade has contributed to trade expansion in ANCOM and the opposite for NAFTA, MERCOSUR and CACM. Global supply chains may help us explain these results. Finally, we find anticipatory effects on trade several years before the signing of the agreements, but only NAFTA countries seem to be natural trading partners in the region while the rest of Latin American regional agreements have not resulted in a comprehensive, profound and consolidated common market.  相似文献   
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In a general equilibrium model where firms are heterogeneous in terms of productivity, we introduce differentiated goods in production that are not perfect substitutes, as well as intermediate inputs needed to produce those goods. We show that an increase in either the complementarity of differentiated goods or the share of intermediate inputs in gross output, significantly increases the negative effect of entry costs on total factor productivity (TFP) and output per worker. We also find that the effect of complementarity is quantitatively stronger. If we assume an empirically plausible value for the elasticity of substitution between differentiated goods, then the model considerably improves its ability to reproduce the observed negative relationship between entry costs and TFP or output per worker.  相似文献   
25.
This paper presents a model of growth driven simultaneously by innovation and human capital accumulation. Two different long-run equilibria are possible, according to whether or not workers skills are completely updated over time as knowledge expands. Skill gaps could arise as a consequence of poor education infrastructures, even in the efficient solution; in such circumstances, we find that whilst education policies are able to encourage growth, R&D policies are not. Otherwise, subsidizing education becomes ineffective for enhancing growth, although it could be necessary to avoid possible skill gaps originated by the R&D growth-enhancing policy.JEL Classification: O41, O33The authors wish to thank the financial support received for the project SEC 2001-2469 (Ministry of Science and Technology, Spain, and FEDER), as well as the comments of the co-editor and the referees.  相似文献   
26.
While the biofouler Corbicula fluminea (Müller, 1774) is known to cause great economic losses in North America, studies reporting the problem in Europe are much scarcer. This paper explores the industrial effects of the species in Portugal, the gateway by which the bivalve entered Europe around 30 years ago. National waterworks, major power stations, cement plants, pulp and paper mills and irrigation systems were surveyed. The industrial impacts of the pest were shown to remain relatively mild; irrigation systems are those that seem to be facing more significant economic losses due to infestation. Possible reasons for the apparent discrepancy between this result and the species dispersal in natural ecosystems are discussed, and recommendations on adequate responses to the latent threat are provided. This study may assist the implementation of integrated pest management policies in countries at risk of invasion or recently invaded, and contribute to an understanding of the species’ progression in industrial environments.  相似文献   
27.
The main objective of this paper is to analyse the competitiveness of the main maritime Port sited in Portugal - Port of Sines. This paper is developed under the resource-based view approach. A literature review about the resource-based view is presented with a special highlight on the contribution of organisation owns' resources to the competitiveness. With this study we intend to emphasize the applicability of a management theory to a different type of organisation which only recently starts to be preoccupied with its competitiveness. A case study methodology is used in order to collect all information needed about its main resources and capabilities of Port and also its competitiveness. The resources analysed in this paper are: The infrastructures, the accessibilities, the Port operations and also the information systems used on it. Also, a set of performance data is analysed as the main indicators of competitiveness. After that, a conceptual model is presented in order to systematise the main resources and capabilities under which the competitiveness of the Port of Sines is built on.  相似文献   
28.
The endogeneity of prices has long been recognized as the main identification problem in the estimation of marginal willingness to pay (MWTP) for the characteristics of a given product. This issue is particularly important in the housing market, since a number of housing and neighborhood features are unobserved by the econometrician. This paper proposes the use of a well defined type of transaction costs–moving costs generated by property tax laws–to deal with this type of omitted variable bias. California's Proposition 13 property tax law is the source of variation in transaction costs used in the empirical analysis. Beyond its fiscal consequences, Proposition 13 created a lock-in effect on housing choice because of the implicit tax break enjoyed by homeowners living in the same house for a long time. Its importance to homeowners is estimated from a natural experiment created by two amendments that allow households headed by an individual over the age of 55 to transfer the implicit tax benefit to a new home. Indeed, 55-year old homeowners have 25% higher moving rates than those of comparable 54 year olds. These transaction costs from the property tax laws are then incorporated into a household sorting model. The key insight is that because of the property tax laws, different potential buyers may have different user costs for the same house. The exogenous property tax component of this user cost is then used as an instrumental variable. I find that MWTP estimates for housing characteristics are approximately 100% upward biased when the choice model does not account for the price endogeneity.  相似文献   
29.
It is shown that the joint distribution of economic and political power plays a key role in determining regulatory and tax policies of national and subnational governments. If both economic and political power are evenly distributed across individuals, then regulatory and tax policies are efficient, but if they are unevenly distributed and positively correlated, then regulatory policy is used by subnational governments to redistribute income in favor of individuals with higher economic and political power at the expense of productivity and output. Consequently, the national government has to raise the tax rate to finance public expenditure. Moreover, if there exists a positive correlation between economic and political power, then the higher the fiscal gap, the larger the gap between equilibrium and efficient policies because subnational governments underestimate more the fall of public revenues caused by inefficient policies.  相似文献   
30.

Peru is the second-largest producer and exporter of copper in the world. This paper proposes a novel approach to assess short-run and long-run effects of copper on Peru’s recent economic growth. Annual data over the 2014–2018 period were used to calculate a Mining Contribution Index (MCI). An institutional quality indicator of the World Competitiveness Index of the World Economic Forum measured the dependence of Peruvian economic growth on mining and the quality of its institutions, respectively. Then, monthly data during the period 2005–2018 were used to run vector autoregressive (VAR) and vector error correction (VEC) models to measure copper’s effects on the country’s economy over time. VAR-VEC models included copper production, exports, international price, investment, taxes paid by producing companies, and Peru’s gross domestic product (GDP). Stationarity and causality of variables were verified with the Augmented Dickey-Fuller and Granger tests, respectively. Due to the presence of non-stationary variables, a VEC model was implemented to forecast short- and long-run effects. The main results show that real GDP responds to copper output and other related explanatory variables differently, depending upon the instrument applied. Peruvian GDP has increased dependence on copper mining. The quality of its institutions could explain the presence of Dutch Disease or resource curse theory. Short- and long-run effects of copper output on GDP were generally statistically non-significant. GDP was statistically significant in relation to other mining variables, such as copper exports and the international price of copper.

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