External Debt and Growth in Emerging Economies

The paper studies the relationship between external debt and economic growth in a panel of emerging countries. A number of economists have proposed different methods of analysing the nexus between economic growth and public debt. The paper investigates the debt-growth nexus using a linear and non-linear specification, employing a panel ARDL model on 13 emerging countries during the period 1990–2016. The results show that there is no robust effect of debt on economic growth in the long run; however in the short run, external debt is negatively and significantly correlated to economic growth.     

Walking the talk in diversity management: Exploring links between strategic statements,management practices,and external recognition

Despite a link between external recognition for diversity management and important financial outcomes, very little research has examined the organizational efforts that can lead to such external recognition. To address this gap, this study examines the links between strategic diversity statements, diversity management practices, and external recognition of diversity using the theoretical lenses of the resource-based view (RBV) and institutional theory. Data on diversity statements and practices were collected from 27 Fortune 1000 companies, and, using a time-lag approach, external recognition data were collected from professional organizations one year later. Results show that organizations that “walk the talk” and institute both diversity statements and practices were more likely to gain external recognition. This study provides timely and practical recommendations for hospitality firms to integrate diversity statements with diversity practices, a process that may lead to external recognition and thus to favorable outcomes.     

ENDOGENOUS DEBT‐EQUITY RATIO AND BALANCE‐SHEET CHANNEL: IMPLICATIONS FOR GROWTH AND WELFARE

This paper endogenizes the debt‐equity ratio and embodies financial leverage in a cash‐in‐advance model of endogenous growth. Our analysis finds that the debt‐equity ratio is positively related to the balanced‐growth rate, since it serves as a ‘financial accelerator’ to stimulate investment projects. Compared to previous studies, this positive relationship gives rise to an additional balance‐sheet effect, which substantially affects the macroeconomic consequences of monetary and taxation policies. Due to the existence of the balance‐sheet effect, we also find that the Friedman rule is not necessarily optimal.     

基于碳氧平衡模型的城市公园生态效应评价研究

温室效应所引起的气候变暖严重影响着人类的生存和发展,同时严重制约着城市的可持续发展。基于此,主要结合碳氧平衡模型进行城市公园生态效应评价,首先结合碳氧平衡模型以及AHP(层次分析法),选择合适的指标,构建基于碳氧平衡模型的城市公园生态效应评价体系。然后具体结合成都市高新南区进行实证分析,搜集碳氧平衡相关数据,对其CO2排放量、CO2吸收量以及碳氧平衡缺口进行计算,并结合上述的模型选取区域内最具代表的锦城湖湿地公园为具体的生态效应评价对象,得到区域生态效应情况。最后结合评价的结果提出优化城市生态效应的建议。     

基于广州市水资源供需平衡分析的实证研究

在经济高速发展的同时,缺水、水污染、水生态环境恶化等一系列问题日益突出,制约着广州经济的发展,部分地区出现水质性缺水,经济发展对水资源需求的增长同水资源缺乏和污染之间的矛盾日益尖锐。文章通过对水资源近期和长期需求的预测来反映未来广州市不同时点水资源的供需能力,并对广州市水资源的可持续利用与发展提出了相应建议。     

人民币汇率、贸易收支与失业率——来自中美两国相关数据的分析

人民币升值是否能够改善美国贸易收支失衡?是否能够带来美国失业率的下降?以此争论为背景,本文采用人民币汇率改革以来的中美相关数据作为分析依据,从马歇尔—勒纳条件及中美贸易产品的相似性两个假设出发,分析了后危机时代人民币汇率变动与美国贸易收支失衡及其失业率的关系,主要得出以下几点结论:(1)中美两国之间贸易产品缺乏汇率—需求弹性,人民币汇率变动对美国进出口数量的影响微乎其微;(2)中美两国贸易产品具有较强的互补性,竞争性则较弱,贸易对就业具有促进作用;(3)人民币升值既不能改善美国的贸易收支失衡,也不能带来美国失业率的下降。     

内驱式城乡统筹:概念与机制构建

中国正在进行的城乡统筹,主要是迫于现实压力而施行的"给予式"、"减负型"或者"松绑型"的外驱式城乡统筹,并不是基于农民自身努力,通过城乡对等谈判和均衡博弈达成的和谐与均衡,因此,这样的统筹并不具备制度上的彻底性和可持续性。本文探讨构建的是一种由"三农"内部动力驱使,城乡之间通过利益制衡和均衡博弈而实现协调与均衡的内驱式统筹模式,并从资源和要素自由流动、决策平等参与、弱势保护与扶持、所有制公平等方面提出了机制构建思路。     

工资差异、劳动力流动与工业集聚——基于新经济地理学的解释和实证检验

初始工资、运输成本和外部规模经济是劳动力空间流动和经济区域集聚的重要驱动力量。通过1980—2007年29个省市的面板数据实证研究证实了工资差异对经济集聚的影响,东部沿海地区的工资增加对经济集聚的作用显著,而内陆地区工资变动的集聚效应尚不明显。因此工资增加对沿海地区的集聚效应是有效率的,对内陆地区的集聚效应是非效率的,内陆地区的经济集聚受到开放程度、城市化水平等多种因素的制约。     

我国经常账户失衡的内外冲击因素——基于BQ分解的实证研究

为了研究自1990年代初期以来我国经常账户出现持续顺差的内外部原因,本文利用Blanchard和Quah提出的对冲击进行长期约束的冲击分解方法,分析了内部冲击和外部冲击对我国经常账户失衡的冲击-传导机制。分析结论表明:我国经常账户失衡主要是由我国内部冲击因素导致的,并且,在样本期内,我国经常账户的波动也可以由其内部冲击分量来模拟。依据这些结论,本文提出了应对我国经常账户失衡的政策建议。     

再分配的理论分析与政策安排

市场的完善与不完善、均衡与非均衡对初次分配的影响很大。我国收入差距过分拉大,市场完善与均衡的程度较小是个重要原因。再分配要对初次分配的结果进行有效调节,就必须针对初次分配的市场基础作出相应的政策安排,而且政府的再分配作为需要与促进市场的完善和均衡的行为相互协调。