Importance of a victim-oriented recovery policy after major disasters

This paper employs a growth model with public infrastructure, which is included in both utility and production functions, and investigates the importance of a victim-oriented recovery policy after major natural disasters such as the 2011 Great East Japan Earthquake and Tsunami. More concretely, the role of deep parameters in the recovery process is closely examined. Through the analysis, we find that the magnitude of public concerns about infrastructure and the magnitude of the intertemporal elasticity of substitution substantially affect the progress of recovery. In terms of economic recovery in general, production activities tend to be emphasized, but our results imply that one should not disregard victim-oriented recovery.     

中基层员工主导型公司创业过程研究

互联网时代的创新经常发生在意想不到的市场,沿袭以往仅仅依赖高层决策者识别创业机会并发起创业项目的做法会使企业失去很多发展机遇,由中基层员工主动识别创业机会、发起公司创业项目变得愈加必要。运用探索性案例研究法,以腾讯公司不同发展阶段由中基层员工主导的3次成功创业案例（QQ秀、QQ空间和微信）为研究对象,遵循创业机会识别、开发、价值实现的逻辑思路展开研究,得到创业过程的构成要素,即创业机会感知与传递、公司创业决策、团队组建和资源整合、产品开发与市场开发、新业务生成与成长、战略更新与组织变革等6个方面的关键要素,提炼出与各关键要素相匹配的管理机制——赛马机制、容错机制、快速决策机制、提出者负责制、共享型学习机制、基于顾客体验的快速迭代机制,进而构建起中基层员工主导型公司创业过程模型。     

基于实证研究的人民币东亚区域化路径选择

为了从获取中国与东亚区域经济联系的相关性,分别测算了一般贸易联系和贸易强度指数、经济周期指数和经济冲击的对称性。根据结果我们得出结论：1.中国推行人民币区域化战略,与东亚主要经济体展开货币合作,可以优先在韩国、马来西亚、泰国铺开;2.中国与东亚深层次的经济联系尚需进一步提升。人民币区域化随着进程的不断推进,还会面临更多的困难和挑战。     

东亚地区金融合作研究

1997年金融危机催生了东亚地区金融合作的愿望。地区性金融合作的好处在于当危机爆发时,通过给与受害国金融援助来有效地抵御和处理金融危机。在介绍东亚地区金融合作进程之后,重点分析了东亚地区金融合作进展迟缓的原因及其发展前景。     

中国企业海外上市与公司治理中的股东行为

针对中国企业在海外上市中暴露出来的问题,从保护股东利益的角度分析了中小投资者通过集体诉讼机制在公司治理中发挥的积极作用,这些经验对国内证券市场上的中小投资者参与公司治理及国内证券市场的机制完善有着重要的现实意义。     

高管人力资本、高管报酬和公司绩效关系的实证研究——以中部地区上市公司为例

高管人力资本、高管报酬和公司绩效三者之间体现何种关系特征,是企业配置高管人员有效实施高管报酬激励的重要依据,是提升公司绩效的有效保证。本文的研究结果表明,高管的任期与公司绩效存在正相关关系,与高管报酬存在负相关关系;高管年龄与公司绩效存在负相关关系,与高管报酬存在正相关关系;高管的教育背景与公司绩效存在负相关关系,与高管报酬存在正相关关系。公司治理因素尤其是股权因素对高管人力资本特征与公司绩效、高管报酬的相关性有很大的影响。     

Transition economies in the Middle East: the Syrian experience

There have been no in-depth studies of the post-socialist transition in the Middle East. Syria’s experience is a useful one to explore given its historically important role in the region and its distinctive characteristics. The Syrian economic transition, from the early 1990s to 2011, was in two phases: an incremental liberalisation phase and a transition to a social market economy phase. During both phases, Syrian policymakers showed a preference for a gradualist approach to economic transition, rather than a big-bang approach. This was facilitated by oil revenues and subsidies from the Gulf States. The Syrian experience therefore has its own distinct characteristics, as well as elements in common with the transitions in other post-socialist economies.     

Common Agricultural Policy effects on dynamic labour use in agriculture

The aim of this study is to investigate the effects of direct payments and rural development measures of the EU’s Common Agricultural Policy (CAP) on employment in agriculture. We work with a dynamic labour demand equation augmented by the full set of policy instruments of the CAP, which is estimated on a panel dataset of 69 East German regions. We present results for four estimators which differ in how they eliminate the fixed effects and how they address the endogeneity of the lagged dependent variable. The results suggest that there were few desirable effects on job maintenance in agriculture. While there is some indication that investment subsidies have halted labour shedding on farms, a rise in the general wage level reduced labour use in agriculture. Changes in direct payments had no employment effects. Generally, labour adjustment exhibits a strong path dependency.     

创新集群发展的“东亚模式”：基于日、韩数据的实证检验

文章以东亚创新集群发展的代表性国家——日本、韩国的2001—2010年数据为样本,利用全局空间相关性检验MoranI指数检验了日本、韩国地区创新集群发展的基本形态及演变特征。为了避免由于模型设定所导致的推断错误,文章利用初始GMM估计方法、完全加权GMM估计方法和部分加权GMM估计方法,构建静态空间面板模型,检验大学、国有研究机构、风险资本、政府的政策倾斜以及大企业、中小企业各自在东亚创新集群发展中的作用,以此揭示东亚创新集群的发展模式。实证检验显示,创新集群发展存在“东亚模式”,其与“美国模式”的本质区别在于创新集群产生与发展的关键驱动要素不同,“东亚模式”具有“跨越式”追赶的特征,但却未能发挥大学等知识部门的潜能。我国可以通过吸纳两种创新集群的发展模式,结合本国经济发展的实际情况进而采取灵活的政策措施,使两种模式相互促进并形成良性互动。     

Macroeconomic Linkages and Regional Monetary Cooperation: Steps Ahead*

There is a growing appetite for economic cooperation in East Asia. Although the region has forums to facilitate this, economic cooperation has focussed largely on discussion of issues and policies ? cooperative action is confined to functional cooperation in finance. There is scope for further cooperation in strengthening markets and institutions, with a view to accelerating convergence and stability in the region and deepening shared preferences about policy objectives, including on monetary and exchange rate issues. Although monetary policy in East Asia is generally focussed on controlling inflation, differences remain in economic structure and preferences about policy trade‐offs, markets, and institutions.