战后初期中国纺织工业的发展性质研究

抗战胜利后,工厂复工的停滞及物资不足引起了物价上涨、工潮等严重的社会问题,尤其是棉制品等日用必需品,供需矛盾突出,成为游资的主要投机对象。纺织工业是中国最大的产业部门,在迅速恢复全国生产力的过程中,占有非常重要的地位。因比,国民政府非常关注纺织工业的迅速复工。抗战胜利初期,在国民政府及中国纺织建设公司的积极努力下,中国纺织工业不仅迅速恢复了生产力,而且获得了空前繁荣。然而这种繁荣具有畸形性,除了经济政策扶持外,主要依靠国内市场对于纱布的急切需要,棉纱价格的激涨以及相对廉价的棉花而共同造成。再者,纺织工业还面临着工潮、电力不足等困境。另外通货膨胀及外汇率调整等因素直接影响了原棉进口,严重阻碍了纺织工业的正常发展。     

基于三分量法的地下金属管线探测仪结构设计

目前现有的探测器工作原理多数是通过电场源激励接收电磁波信号,电场和磁场的分布是结构设计的理论前提,因此分析电性分布参数与地下管线在探测技术中的作用和影响,建立数学模型剖析载流导体与周围环境电性参数的关系,通过空间三维向量磁场强度分布情况设计了线圈搭建的模型与接收器在二维空间的结构设计,组成双球面空间结构.针对磁场强度分布不平衡性,用数学模型作为理论依据,提出一种新型结构进行补偿,进一步提高定位精度.     

A LOCATION MODEL WITH PREFERENCE FOR VARIETY*

We propose a new location model where consumers are allowed to make multiple purchases (i.e., one unit from each firm). This model may fit many markets (e.g. newspapers, credit cards) better than existing models. A common feature of these markets is that some consumers are loyal to one brand, while others consume more than one product. Our model yields predictions consistent with this observation. If firms are allowed to choose their locations on the interval, then spatial differentiation may not be maximal and in some cases it may even be minimal. Thus, under certain conditions, we restore Hotelling's Principle of Minimum Differentiation.     

A MODEL OF SELF‐FULFILLING FINANCIAL CRISES*

This paper combines the structural weakness and the self‐fulfilling panic view to explain the cause of the East Asian crises. In this model economy, the diversification strategies induce conglomerate firms to overinvest. They accumulate losses due to their unprofitable sectors and then compensate by obtaining bank loans. Domestic banks, which borrow from foreign banks, lend money as long as the total amount of accumulated loans remains within the firms’ collateral value. The model shows that if the debt to collateral value ratio belongs to a certain range a self‐fulfilling crisis can occur due to the self‐fulfilling expectations of foreign investors.     

HAS INTERNATIONAL CAPITAL MOBILITY INCREASED IN ASIA? EVIDENCE FROM THE POST‐1997 FINANCIAL CRISIS PERIOD

This paper examines whether international capital mobility in Asia has increased after the 1997 Asian financial crisis by estimating the Feldstein‐Horioka (FH) coefficients using panel cointegration and dynamic OLS regressions. In the benchmark estimation, we find that the FH coefficients of ten Asian economies decrease significantly from 0.65 during the pre‐crisis period to 0.32 during the post‐crisis period. Furthermore, the coefficient for the post‐crisis period is less statistically significant than that for the pre‐crisis period. The extended model estimations with additional control variables controlling for the business cycle, different foreign exchange rate systems, and capital control also show the results which are consistent with the benchmark estimation results. Rolling regressions show a consistently declining trend of the FH coefficients in Asia during our sample period. These results provide consistent evidence, according to the FH proposition, of increasing international capital mobility in Asia during the post‐1997 Asian financial crisis period. (JEL F36, F37, F21)     

The Implementation of Innovative Management Accounting Systems

This paper reports on innovations in management accounting systems (MAS) in three Australian manufacturing enterprises. The study is based on the premise that systems characteristics of the MAS innovations develop in response to triggers for adoption, and the outcomes achieved from the innovative systems will depend on the effective implementation of the costing systems. The MAS innovations implemented include activity-based costing, activity-based management, benchmarking, integrated budgetary system, key performance indicators and balanced scorecards. Five factors influencing the successful implementation of innovative MAS are proposed: commitment to the initiatives; a successful pilot application; incremental development; appropriate training; and integration with other processes and systems.     

IS THE CHINESE RENMINBI UNDERVALUED?

This article seeks to investigate whether the renminbi (RMB) has become grossly undervalued by empirically estimating China's equilibrium real exchange rate for the period 1978–2002. A reduced form based on Edwards's (1989, 1994) developing-country model is estimated using the Engle-Granger two-step method. The results reveal that government expenditure, productivity, and the degree of trade restrictions in the economy affect the RMB. From these variables, the authors then derive the equilibrium rate and the degree of misalignments from it. The investigation shows that there is no evidence that the RMB is significantly undervalued in the last few years of the sample period. (JEL F31 , F33 , F42 )