Intra Eurozone Foreign Direct Investment and Deflation

After the recent economic turmoil, besides the severe recession that hit most European Union (EU) countries, and the resulting downward trend in inflation, foreign direct investment (FDI) levels in certain EU countries have bounced back. Hence, we evaluate the effect of deflation on intra-Eurozone FDI. Even though deflation tends to cause a negative effect on investment, low production cost opportunities may arise, thus attracting inward FDI. Using panel data that span from 2003 to 2015, we initially estimate an FDI equation that incorporates deflation as a pre-determined variable and, consequently, a two-equation model that treats both FDI and deflation as endogenous variables. Our results suggest that deflation in periphery Eurozone countries does not deter FDI flows from core to periphery Eurozone countries.     

Investigation of institutional changes in the UK housing market using structural break tests and time-varying parameter models

This paper investigates the effects of institutional changes within the UK housing market in recent decades using structural break tests and time-varying parameter models. This approach is motivated by models of institutional change drawn from the political science literature which focus on the existence of both fast-moving and slow-moving institutional changes and the interactions between them as drivers of the dynamics of asset prices. As a methodological contribution, we use several time-varying parameter models for the first time in investigations of institutional change. Our findings support the existence of both structural breaks and continuous variance in parameters. This contributes to our understanding of the housing market in two respects. Firstly, the dates of structural breaks appear to better match unexpected market shocks rather than remarkable political events, and this supports prior institutional theory. Secondly, assessment of the effect of slow-moving institutional changes shows that people’s biased expectations rather than the economic fundamentals have increasingly played an important role in driving housing prices in the short run although fundamentals continue to drive house prices to converge to their long-run equilibrium.     

Non-financial hurdles for human capital accumulation: landownership in Korea under Japanese rule

This study examined the relationship between land inequality and human capital accumulation in the Korean colonial period by using a panel data set from 1934 to 1942. Evidence of the adverse relationship between land inequality and the accumulation of human capital has thus far only been presented by using data from Western countries and from countries that achieved industrialization not under colonial occupation but by their own economic interest. The presented findings thus contribute to the body of knowledge on this topic and confirm the generalizability of the Galor model by analyzing the unique Korean context under Japanese rule in the early twentieth century. It is the first study to present evidence that inequality in landownership had an adverse effect on the level of public education in the Korean colonial period (i.e., it is a non-financial hurdle for human capital accumulation). By using a fixed effects model and a fixed effects two-stage least squares model with an instrumental variable estimation, this study exploits variation in inequality in land concentration across regions in Korea, accounting for the unobserved heterogeneity across these regions. Overall, this analysis establishes a highly significant adverse effect of land inequality on education in the Korean colonial period.     

国际产业转移趋势与我国的对策

国际产业转移是各国产业结构升级和开放经济的结果,发达国家可以通过产业转移调整产业结构,实现全球战略目标,发展中国家则可以通过承接产业转移加快产业结构升级和经济发展。改革开放以后,随着我国经济的迅速发展和对外开放的扩大,我国逐渐融入到国际产业转移的序列中,国际产业转移对我国经济发展的影响也进一步加深,因此,掌握国际产业转移的特点和趋势,主动地有选择地利用国际产业转移加快我国经济发展,提高产业竞争力,就成为一个重要的研究课题。当前国际产业转移的特点1.国际产业转移结构高度化,服务业投资成为新热点知识经济的发展,不…     

土木工程专业“测量学”课程教学改革探讨

"测量学"课程是土木工程专业至关重要的专业基础课。本文在分析目前"测量学"课程存在的问题的基础之上,提出应该针对土木工程专业采取差异式教学,明确"测量学"在土木工程专业中的定位,着重培养学生测绘成果应用与空间思考的能力,以更好地与专业相结合。基于此,作者提出了对教学内容与实践内容的建议。     

利率市场化与商业银行风险承担

在国内利率市场化渐行渐近的背景下,本文基于2007-2013年国内88家商业银行数据,运用双边随机前沿模型,分析商业银行风险承担.实证结果显示:样本期间内国内商业银行总体风险承担水平低于最优风险承担水平;随着利率市场化的推进,国内商业银行总体风险承担呈下降趋势,其中,大型商业银行下降的最为明显,而股份制银行和区域性银行却呈上升趋势.     

以内容创新推动上海信息服务业协调发展

本文以1999～2005为样本区间，通过对上海信息服务业的经营收入、产业增加值、营业利润及其占全市GDP比重等数据的实证分析，详细剖析了上海信息服务业发展现状；对比发达国家信息服务业的发展态势，描述了加快上海信息服务业发展思路和产业链布局。在此基础上，结合上海政治、经济、科技、文化生活的信息服务需求，提出了商用数据库、金融信息、城市公共信息、网络信息传输、应用软件、数字内容创意等信息服务六大重点发展方向，形成上海自主品牌信息服务业创新格局，以推动现代服务业的创新。     

中国股票市场非线性特征检验分析

本文突破了传统资本市场理论研究的线性框架,视股票市场为一非线性系统,运用R/S、BDS等非线性方法对沪深股票市场进行实证研究,得出了沪深两市的非线性特征,并探讨了这些实证结果对股票市场研究的理论与实践意义。     

后TRIPS时代药品获得权与其专利权的冲突与协调

药品获得权是一项由生命权、健康权派生而来的人权,是指人为了维护其生命和健康而享有的获得药品的权利。《与贸易有关的知识产权协定》（TRIPS）是当前对知识产权设定最低保护标准的多边贸易协定,它所确认的药品专利权对药品获得权存在负面影响,二者存在冲突。我们应基于法益优先保护原则和利益平衡原则协调二者的冲突。WTO为此已积极做出了努力,但冲突仍在,因此,必须不断寻求新的协调之法。