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51.
    
This study investigates the causal relationship between human capital inequality and income inequality in case of Pakistan. The annual time series data ranging from 1973 to 2009 is used for econometric analysis. Johanson co-integration and Granger Causality tests are used to confirm the existence of long run relationship and the causal relationship between human capital inequality and income inequality. The results indicate that there is positive relationship between the two types of inequalities in the long run. The estimates of causality test indicate that income inequality causes the human capital inequality but human capital inequality does not cause income inequality. Policy initiatives to reduce income inequality may empower people economically to avail skill building opportunities and accumulate their human capital through access to educational services.  相似文献   
52.
    
We consider the competition among quantity setting players in a linear evolutionary environment. To set their outputs, players adopt, alternatively, the best response rule having perfect foresight or an imitative rule. Players are allowed to change their behavior through an evolutionary mechanism according to which the rule with better performance will attract more followers. The relevant stationary state of the model describes a scenario where players produce at the Cournot‐Nash level. Due to the presence of imitative behavior, we find that the number of players and implementation costs, needed to the best response exploitation, have an ambiguous role in determining the stability properties of the equilibrium and double stability thresholds can be observed. Differently, the role of the intensity of choice, representing the evolutionary propensity to switch to the most profitable rule, has a destabilizing role, in line with the common occurrence in evolutionary models. The global analysis of the model reveals that increasing values of the intensity of choice parameter determine increasing dynamic complexities for the internal attractor representing a population where both decision mechanisms coexist.  相似文献   
53.
SOCIAL SECURITY AND THE POOR: Choices for Developing Countries   总被引:1,自引:0,他引:1  
There is an urgent need to provide an effective safety net forthe poorest in societies ranging from socialist countries undergoingreform to Sub-Saharan African economies. This article examinessocial security systems in industrial countries and explorestheir relevance to developing countries. The objective of socialsecurity is defined broadly as public action, including thatby communities, to protect the poor and vulnerable from adversechanges in living standards. Relevant instruments include employmentand income guarantees, and also such formal policy instrumentsas assistance, social insurance, and family allowances. Thearticle highlights issues that arise in providing social securityin developing countries, particularly its effectiveness in protectingthe target groups.   相似文献   
54.
The relaxation of security laws and regulations in emerging markets in the Middle East and North Africa (MENA) provides abundant opportunities for foreign investors. These markets exhibit high-expected returns and substantial volatility. In this paper, we investigate the lead/lag relationship between the MENA countries and regions. We find no market causality or spillover from one country to another in the North Africa region. Our results for the Levant region reveal that there are linkages between stock markets in this region. The results for the Gulf Cooperation Council (GCC) region show that there is more interaction and linkage in the GCC region than in the North Africa and Levant regions. An unexpected result is that UAE's stock market leads all the markets in this region. Finally, we investigate linkages among the three regions. We find that GCC influences the other two regions.  相似文献   
55.
    
This paper examines Pecking Order/Free Cash Flow behavior in small ($25–$50 million), medium ($100–250 million), and large ($1000 million and over) firms. The purpose is to proffer an explanation for the important role of cash flow on the investment expenditure of firms that is more complete than the commonly given accounts. The Pecking order theory (PO) emphasizes the value‐enhancing influence of cash flow, while the free cash flow hypothesis (FCF) underscores its value‐destroying effect. Using the vector error correction model, we find that although the overall behavior of small firms support the pecking order theory, the cash flow of these firms does not have any causal effect on their investment. We further find evidence of free cash flow theory in large firms.  相似文献   
56.
This paper investigates nonlinearities in the dynamics of real exchange rates. We use Monte Carlo simulations to establish the size properties of the Teräsvirta-Anderson test, when the dynamics of the real exchange rate is influenced by an exogenous process. In addition, we show that a modified nonlinearity test, which includes additional right-hand-side variables, performs much better than the original in both Monte Carlo exercises and in the actual data on 1431 bilateral real exchange rate series. Finally, we investigate the dynamics of the real exchange rate for both developed and developing countries using the modified test for the recent floating period. In general, the results find a greater incidence of nonlinear dynamics for developing country real exchange rates.  相似文献   
57.
    
Our research investigates how the inclusion of a company on an independent ethics index affects its attractiveness to institutional investors. Using a sample of 864 U.S. firms over the 2010–2018 period, we find that institutional investors significantly increase their holdings in companies in the quarter that they are included on the ethics index and maintain larger holdings in the four quarters following the inclusion on the Ethisphere list relative to pre-inclusion period, with dedicated institutional investors being more swayed to invest than transient investors. This paper adds to the emerging literature on intermediate signaling by showing that a firm's inclusion on an ethics index reduces information asymmetry with institutional investors. Our evidence suggests that public companies should effectively, rather than ceremonially, adopt sound governance structures and invest in socially responsible activities, as these actions can increase their likelihood of being included on ethics indices. By doing so, these firms send credible signals about their ethical compass, granting them access to valuable institutional investments.  相似文献   
58.
    
The mining industry is not only one of Australia's main economic sectors but also one that the country is considered to have managed well. However, little is known about the industry's potential to contribute to the structural change of Australia's economy. We use the national input–output (IO) tables and apply the partial hypothetical extraction method (P-HEM) within both the Leontief and Gosh IO frameworks to examine the inter-sectoral linkages of the Australian mining and quarrying sector. Ee find that this sector demonstrates strong backward linkages (BL), but forward linkages (FL) appear to be weak, and they mainly involve non-metallic materials. The mining and quarrying sector appears to generate linkages with the business services sector and the construction sector, which can potentially contribute to diversifying the economy. Such linkages may be realised via skilling and reallocating skilled labour and technical supplier capacity as well as via developing physical infrastructure that supports existing and new economic sectors. We find that the identified linkage pathways via the construction sector are tied to energy-intensive but coal-dependent sectors. Thus, these pathways are vulnerable because of the climate-related need to move away from combusting coal and invest in cleaner sources of energy.  相似文献   
59.
ABSTRACT

This study has attempted to address prior knowledge gaps in the environmental economics literature by integrating the innovation shocks into the Environment Kuznets Curve (EKC) equation for twenty-six OECD economies using data from 1990 to 2014. Foreign direct investment (FDI), exports (EXP), renewable energy consumption (REC), and GDP per capita were included as control variables. The results from multiple empirical analyses indicated that positive shocks to innovation improve, but the negative shocks disrupt environmental quality. Data analyses also showed that a positive correlation exists between income per capita of OECD economies. From the negative coefficient of income per capita (squared) and the existence of a negative nexus between FDI and CO2e, both the EKC and the Pollution Halo Hypothesis (PHH) were confirmed in sampled economies, respectively. The paper offers empirical support for the favourable impacts of REC on the quality of the environment and calls for the adoption of innovation shocks as a policy instrument to formulate better environmental policies for a sustainable future.  相似文献   
60.
Ouraman Takht is a rural, highly mountainous and dry region located in the southwest Kurdistan province of Iran. Traditionally, the socio-economic structure of the region was based on limited farming, herding, gardening, and manual labor. Recently, modern education has been introduced to the region. The purpose of this study was to explore, from the Ouraman perspective, the impact that modern educational practices have had on the Ouraman traditional way of life. Data were collected over a period of 6 months using ethnographic methods including observation, interview, videotaping, and photography. Data were analyzed using Grounded Theory Methodology. Enabling/Constraining was the concept constructed from data to explain the impact that modern education has on the Ouramat region. The people of Ouraman perceived modern education as increasing the economic stability and growth of the region while simultaneously threatening cultural beliefs and the traditional way of life. In addition to the “core” category of “Enabling/Constraining, 13 other major categories were derived from data. These included: job necessity, Providing Economic Prosperity, empowerment, increasing public knowledge, positive notion, concerns about religious beliefs, emphasis on children’s education, religious justifications, modernism requirements, traditional concerns, education for girls, expression of satisfaction, and public embracement. The results are presented in a paradigm model consisting of conditions, interactions and consequences around the core category and can be used to understand the impact of change from the introduction of modern education can have on a traditional society.  相似文献   
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