中美技术密集型产品双边贸易研究——显性比较优势、产业内贸易与贸易平衡研究

资本技术密集型的机械及运输设备产品已经成为中美贸易的主体,且中国对美出口不断扩大。本文以该类产品为研究对象,借助于显性比较优势指数,揭示中美的优势;运用产业内贸易调整指数,说明两国间产业内贸易状况;运用产业内贸易失衡指数,指出该大类下对两国间贸易失衡起到推动和缓解作用的产品;借助于动态产业内贸易指数,分析中美间该大类贸易平衡状况的未来走势。     

Driving restrictions that work? Quito's Pico y Placa Program

Programs to reduce traffic congestion and air pollution by restricting use of motor vehicles on working days have generally not met with success, given existing studies of such programs. We conduct the first study of Quito, Ecuador's four‐year‐old Pico y Placa program and find that it has reduced ambient concentrations of carbon monoxide (CO), a pollutant primarily emitted by vehicles, by 9% to 11% during peak traffic hours. Given that ambient concentrations of CO generally track the spatial and temporal distributions of traffic, these reductions in pollution suggest similar reductions in vehicle flows. We find no significant evidence that traffic has shifted to other times of the day or week, or to other locations.     

Auditor Quality,IFRS Adoption,and Stock Price Crash Risk: Korean Evidence

This paper investigates the relationship among auditor quality, International Financial Reporting Standard (IFRS) adoption and stock price crash risk. Using 657 unique listed companies spanning 2002–2014 in Korea, this study finds that stock price crash risk decreases, especially for firms using Big 4 auditors, after IFRS adoption in Korea. Stock price crash risk decreases for a firm included in Big 4 auditors, while it does not increase for a firm excluded from Big 4 auditors after IFRS adoption. Finally, this study finds that Big 4 auditor decreases stock price crash risk only when the firm size is above-median.     

How does the partner type in R&D alliances impact technological innovation performance? A study on the Korean biotechnology industry

The number of strategic alliances for R&D activities in the biotechnology industry is sharply increasing. Some studies show that each alliance partner type has different alliance motives, resources and capabilities, organizational structures and cultures, and degrees of competition with partners, which can lead to different performances of strategic alliances. In this regard, this study conducts an empirical analysis of the different impact of each type of alliance partner on technological innovation performance and finds the moderating effect of absorptive capacity and potential competition by categorizing strategic alliances for R&D activities in the biotechnology industry into three types: vertical-downstream alliances, vertical-upstream alliances, and horizontal alliances. This study analyzed 206 Korean biotechnology firms and their strategic alliances for a total of 292 R&D activities. The results of the analysis showed that vertical alliances have a positive impact on technological innovation performance, while horizontal alliances have an inverted U-shaped relationship with technological innovation performance caused by the effect of competition. Additionally, it was confirmed that the R&D intensity of biotechnology firms has a moderating effect of increasing the impact of vertical-upstream alliances on technological innovation performance.     

政府扶持物流发展的几个博弈问题

中国加入WTO,物流产业面临着前所未有的机遇和挑战,政府和企业所要进行的工作任重道远。我国物流现状远远落后于发达国家,政府作为国家重要基础设施的掌控者和国家宏观经济调控的决策者,应加大力度从宏观和微观的角度支持物流产业的发展,对相关扶持进行博弈决策。     

兵团加快发展产业聚集园区思路与对策——国家级石河子经济技术开发区建设经验借鉴

兵团的各类产业聚集园区作为推进兵团城镇化、新型工业化、农业产业化的重要载体,如何整合各方有效资源快速推进各类产业聚集园区发展是兵团今后一个时期的一项战略任务。国家级石河子经济技术开发区的发展为兵团建设各类产业园区提供发展思路和经验借鉴。     

Estimation of trade and domestic distortions: an application to world agriculture

The world’s nations often produce commodities for which they have no apparent comparative advantage, and do so with techniques that are not particularly efficient by world standards. These inefficiencies may arise from various forms of trade and domestic distortions, as described in Chau et al., Int Econ Rev 44:1079–1095, (2003). We estimate these distortions for 33 countries of the world using a newly compiled data set. We find that domestic distortions tend to be slightly more important than trade distortions. For the average country, revenues in the agricultural sector would be 26% higher if domestic distortions were eliminated, but 21% higher if trade distortions were eliminated. Our measures of trade and domestic distortions across countries provide a complement to measures of protectionism such as producer subsidy equivalents.     

Power Structure and Rent Competition

This paper presents a model of rent competition in a mixed economic system in which wealth maximizing interest group coalitions share wealth according to their relative political power. The model solves for optimal lobbying expenditures of a producer group, a consumer group, and individual firms. The existence of monopolistic rent is not presupposed. Instead, the equilibrium market price, output, and market shares of firms are determined endogenously. As a result, the distribution of rent depends upon the relative political power of each interest group coalition and total lobbying expenditure decreases as the asymmetry in marginal political power among interest group coalitions increases.     

Stock returns,velocity dynamics and inflation volatility

ABSTRACT

Our model relates the variability of stock returns to the variability of consumption velocity and shows that real stock returns tend to co-vary negatively with expected inflation in a period (or regime) of low and stable inflation and to co-vary positively with expected inflation in a period (or regime) of high and volatile inflation. Long-run real stock returns are shown to be positively related to expected inflation. Our empirical results for 20 countries provide consistent support for our propositions, indicating that the standard deviation of the annual inflation rate roughly equal to 10% is the dividing line between negative and positive return-inflation relations.