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101.
    
ABSTRACT

The peripheral condition of Latin America has changed but persists in spite of a long decade of favorable economic conditions and heterodox policies. A renewed conceptualization of underdevelopment and of Innovation Systems is needed. Here it is connected with Sustainable Human Development, with the dynamics of power and with the transformative change framework. The ‘triangle paper’ is a main guide. Special attention is given to innovation heuristics forged in the South. If combined with advanced knowledge and high qualifications, they may contribute worldwide to the urgent transitions to less inequality and higher sustainability. Some elements for a related research agenda are sketched.  相似文献   
102.
    
How do government counterinsurgency efforts affect local public health financing during civil conflicts? We investigate this question in the context of the protracted conflict in Colombia. Using data on antinarcotics operations and health transfers from the central government to municipal governments, we employ both panel estimations and an instrumental variable to address concerns of endogeneity. We first show evidence of a government discretionary power over the allocation of health transfers. We do not find evidence that counterinsurgency operations causally affect health transfers to municipalities. Our results rule out political alignment between mayors and the national governing party as an intermediary factor that could influence the flow of fiscal transfers in municipalities exposed to the conflict.  相似文献   
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104.
    
Volatile commodity prices have become commonplace in the world economy. Although is widely accepted that commodity‐rich countries are affected by this phenomenon, information about how commodity price shocks impacts their regional economies is scarce. This work analyses how shocks in copper prices impact the economies of the major copper‐producing regions in a developing country, such as Chile. To achieve this goal, a two‐step method is implemented. First, we estimate long‐term copper prices using the Wets and Rios approach (2015) and these estimates are then contrasted with those forecast by the Chilean public advisory committee. Second, a general equilibrium model is implemented to simulate the effects of both expansive and restrictive copper price cycles within major producing regions in Chile. Our results show that the proposed approach yields more homogeneous price projections than those made by the Chilean Government, which, in turn, are very close to variations in response to negative shocks. The price simulations confirm that price cycles affect the savings of government and business, which directly dampens regional production, mainly via investment, capital mobilisation and diversification of production. Because of this, fiscal revenues generated by copper sales act as a trade cycle term multiplier in regional economies. Overall, within copper‐producing regions, we suggest implementing long‐term policies to improve profit distribution efficiency.  相似文献   
105.
    
This paper describes the pattern of reductions in mortality across Brazilian municipalities between 1970 and 2000, and analyzes its causes and consequences. It shows that, as in the international context, the relationship between income and life expectancy has shifted consistently in the recent past. But reductions in mortality within Brazil have been more homogeneously distributed than across countries. We use a compensating differentials approach to estimate the value of the observed reductions in mortality. The results suggest that gains in life expectancy had a welfare value equivalent to 39% of the growth in income per capita, being therefore responsible for 28% of the overall improvement in welfare. We then use a dynamic panel to conduct a preliminary assessment of the potential determinants of these gains. We show that improvements in education, access to water, and sanitation seem to be important determinants of the dimension of changes in life expectancy not correlated with income.  相似文献   
106.
    
We present a new, publicly available database of real-time data and forecasts from the Bank of Canada's staff economic projections, which will be updated on an annual basis. We describe the data construct, its variables, coverage, and frequency. We then provide a forecast evaluation for gross domestic product (GDP) growth, consumer price index (CPI) inflation and the policy rate since 1982: We compare the staff's forecasts with those from commonly used time series models estimated with the real-time data, and with forecasts from other professional forecasters, and provide standard bias tests. Finally, we study changes in predictability of the Canadian economy following the announcement of the inflation-targeting regime in 1991. Our data set is unprecedented outside the USA, and our evidence is particularly interesting, as it covers over 30 years of staff forecasts, two severe recessions, and different monetary policy regimes.  相似文献   
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We prove a version of First Fundamental Theorem of Asset Pricing under transaction costs for discrete‐time markets with dividend‐paying securities. Specifically, we show that the no‐arbitrage condition under the efficient friction assumption is equivalent to the existence of a risk‐neutral measure. We derive dual representations for the superhedging ask and subhedging bid price processes of a contingent claim contract. Our results are illustrated with a vanilla credit default swap contract.  相似文献   
109.
Virtually all studies that focus on the relationship between CSR perceptions and employees’ organizational commitment have not taken into consideration the fit between social and environmental activities and a firm’s business‐unit strategy. This is essential to inquire because scholars have argued that when companies ingrain CSR activities into their strategy‐making process (i.e., in their vision, mission, and overall business model), this might send a more compelling message that resonates closer to workers’ personal standards, and actually enhance employee‐level outcomes. Nevertheless, there is no certainty “if” and “how” these evaluations could affect employees’ organizational commitment. To address this issue, we use cue consistency theory and social identity theory as overarching frameworks to develop a model where we conceptually link perceptions of strategy‐CSR fit with a particular type of organizational commitment: affective. In addition, we posit and test three mediators to understand the underlying psychological mechanisms of this relationship: perceived external prestige, organizational identification, and work meaningfulness. Through structural equation modeling, and using a heterogeneous final sample of 579 employees, we find compelling evidence to support the fact that strategy‐CSR fit enhances employees’ affective organizational commitment through the proposed mediators. Academic contributions and practical implications are then discussed.  相似文献   
110.
    
In this paper we study a static link formation game under consent that has multiple Nash equilibria. In the literature, the use of coalitional refinements has been the standard approach to select among equilibria. Alternatively, based on the Global Games theory, a non cooperative equilibrium selection approach is proposed, so as to select those Nash equilibria that are robust to the introduction of incomplete information. Interestingly, the equilibrium selected is unique and it is in conflict with those predicted by the commonly used coalitional refinements. Furthermore, a conflict is found between stability and efficiency even when no such conflict exists with the coalitional refinements. We are especially grateful to Deborah Minehart, Roger Lagunoff, Daniel Vincent, Peter Cramton, Luca Anderlini, Axel Anderson, Felipe Zurita, Francis Bloch, Colin Stewart, the editor and three anonymous referees for their valuable comments that contributed to improve the paper. We also thank participants at the EEA-ESEM, Stockholm 2003, the IUSC conference, Columbia University 2003, and the Workshop on Global Games, SUNY, Stony Brook, 2007.  相似文献   
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