苏南开发区面临的挑战和转型

随着国际金融危机蔓延，苏南开发区也成为江苏省内感受最早、影响最深、受到冲击最大的开放载体。国际金融危机影响的背后，更为重要的是苏南开发区面临着发展模式转变、产业结构调整等新的严峻挑战。在当前保增长促发展的形势下，苏南开发区更需要化挑战为机遇，化压力为动力，把扩内需、保增长与调结构、促转型有机结合起来，努力培育加快发展的新优势，全面提升开发区的质量效益、核心竞争力和可持续发展能力，成为科学发展、率先发展的新阵地。     

后危机时代煤炭企业发展循环经济战略选择

全球性的金融危机已经对煤炭企业的发展产生了直接而深远的影响,加上在煤炭行业中潜藏着诸多长期积累的问题与矛盾,这就迫使煤炭企业要拓宽发展出路,实施循环经济战略。主要从整合和拓展煤炭产业链、大力推进节能减排的力度、加快技术创新和积累煤炭产业发展人才四个方面进行展开。     

资产证券化对金融体系运行的影响分析

以次贷危机为背案，将资产证券化对金融体系运行中产生的各项影响进行了分析。认为资产证券化的基本功能可以对金融体系的运行产生正反两方面的影响，同时作为金融创新产品中重要一员的资产证券化产品也具有“双刃剑”的作用，其在促进金融稳定的同时也造成了金融不稳定，并对金融体系的融资结构产生了影响。因此应构建合理的资产证券化监管规则和宏观审慎监管的框架。     

存在动态互反扩散影响的品牌信任危机模型仿真

通过构建微分动力系统模型描述了品牌危机演化过程中采取不同信任策略的消费者群体人数的变化规律,应用相轨线分析了系统平衡点的稳定性。算例仿真的结果显示媒体负面宣传以及消费者之间消极的口碑相传对品牌危机的爆发具有显著的推动作用;企业危机沟通及消费者积极的口碑传播在一定程度上能够缓解消费者恐慌、延缓危机爆发时间。     

建筑施工企业劳务危机及对策

随着我国经济的快速发展,城市建设日新月异,但从事建筑施工工作的劳务人员数量呈逐年减少的趋势,在个别企业或地区甚至出现了劳务危机,其原因是多方面的。文章对产生劳务危机的原因进行分析,并提出相应对策。     

政府主导外生技术创新与经济周期

现有的技术创新理论文献大多强调技术创新与经济周期的内生性,但这一认识忽略了技术创新的外生性特征。本文从技术创新的外生理论出发,重新构造了国家推动的外生创新模型,以外生技术创新理论分析了技术创新周期,对金融危机产生原因给出了新的解释,并预测了后金融危机时代的特征,分析了根治金融危机的可能策略及中国面临的机遇。     

Finance companies in Mexico: Unexpected victims of the global liquidity crunch

We study the connection between the global liquidity crisis and the severe credit crunch experienced by finance companies (SOFOLES) in Mexico using firm-level data between 2001 and 2011. Our results provide supporting evidence that, as a result of the liquidity shock, SOFOLES faced severely restricted access to their main funding sources (commercial bank loans, loans from other organizations, and public debt markets). After controlling for the potential endogeneity of their funding, we find that the liquidity shock explains 64 percent of SOFOLES’ credit contraction during the recent financial crisis (2008–2009). We use our estimates to disentangle supply from demand factors as determinants of the credit contraction. After controlling for the large decline in loan demand during the financial crisis, our findings suggest that supply factors (such as nonperforming loans and lower liquidity buffers) also played a significant role. Finally, we find that financial deregulation implemented in 2006 may have amplified the effects of the global liquidity shock.     

Choice of exchange rate system and macroeconomic volatility of three Asian emerging economies

This study highlights the importance of choice of exchange rate system to macroeconomic stability of small-open emerging economies based on the outcomes of the recent exchange rate regime switches of three Asian countries – Indonesia, Malaysia, and Thailand. These countries have high similarities in their economic structures, but have reacted very differently in mitigating the economic distortion of the 1997 financial crisis, in particular in the adoption of exchange rate system. The empirical results of this study show that the amplified instability of macro-variables in Thailand and Indonesia, which was due to the crisis, were not stabilized by switching the exchange rate system to a flexible regime. The volatilities, however, were effectively stabilized after the countries made the second switch – from the independent float to the managed float with no pre-announcement. For Malaysia, a switch from the managed float to the pegged system successfully reduced the volatilities. The exchange rate misalignments of the countries, except Indonesia, were also reduced when the countries switched from a flexible to a more fixed managed float system. These empirical findings thus strongly support central banks of small-open emerging economies to adopt a more fixed, rather than a more flexible system. However, the managed float system needs to couple with efficient management to ensure a smooth and stable regime.     

大学生非正常死亡问题研究及对策——以广州大学城为例

近年来,大学生非正常死亡事件有上升的趋势,广州大学城作为一个大学集聚地,形势也不容乐观。根据相关的调查分析,大学生非正常死亡的类型多以心理问题和意外伤害为主。应该说各高校在应对这一现象中摸索出了很多成功的经验,但是在全面防控体系的构建、如何在事件处置中理顺法与情的关系、制度的执行力度等方面仍然存在不足。针对存在的问题,大学生非正常死亡的危机预案及实施机制需要进行针对性的改善和提高。     

An Examination of Component Returns and Volatility for Country-Specific Equity Funds in Emerging Markets＇ Evidence From Asian Financial Crisis

This research aims to examine the daily return generating processes for country-specific funds in five east-Asian countries for the period 1995-2000. The effects of component returns and their volatility on the dollar denominated returns and volatility of U.S., international investors and the effects of exchange rate regimes on risk and return are also evaluated. The GARCH-M model is adopted, without the restrictive assumptions of linearity, independence, and constant conditional variance. The time frame, 1995-2000 captures a 30 months period prior to these East Asian countries aborting exchange rate stabilization/intermediate exchange rate regimes in response to the currency crisis. The decomposition of returns to holders of country-specific equity funds into the component returns due to changes in the exchange rate and the returns valued in the fund＇s foreign currency during a period of crisis provides additional information. This research provides evidence of the importance of examining component returns. With regards to the effects on volatility, both the conditional variances associated with the exchange rate returns and the returns denominated in the foreign currencies show some importance, especially the conditional variances associated with the returns denominated in the foreign currencies. With regards to the effects of return component, the exchange rate returns have a greater effect on the fund returns than foreign currency dominated returns.