基于HHI的浙江外贸市场结构的实证研究

在金融危机的作用下,全球经济增长显著放缓并进入衰退期,外向度较高的浙江外贸不可避免地面临严峻挑战,外贸市场结构的优化是转变危机的途径之一。文章选取了2004--2008年的相关数据,从洲际和国家（地区）的角度,采用HHI指数和市场分散度的方法对浙江外贸市场结构进行了实证分析,结果显示浙江外贸市场结构呈高度集中的状态,分散经济危机的能力较弱,文章最后尝试性地提出了细分传统市场、开拓新兴市场以优化外贸市场结构的对策建议。     

中国煤炭产业集中度测算与判断

运用行业集中率CR8和赫尔芬达尔-赫希曼指数(HHI)对我国煤炭产业集中度进行了测算。2010年,我国煤炭产业CR8为24.79%,按照贝恩分类法,属于竞争型市场结构。同年,赫尔芬达尔-赫希曼指数为1 400,根据美国司法部的分类,也属于竞争度最高的竞争II型市场结构。上述两项国际通用的指标测算显示,我国煤炭产业集中度较低。这种状况不利于煤炭产业的可持续发展,所以,应当着力促进我国煤炭产业集中度的提升。     

The Relationship Between the Intensity of Competition in China’s Real Estate Industry and its Return on Equity

Does the rate of return from the Chinese real estate industry correlate with the intensity of competition among real estate firms? If China’s equity market performs efficiently, the rates of return of real estate firms should vary indirectly with their level of monopoly power. Greater monopoly power reduces earnings risk and leads to lower costs of capital. The authors analyze empirical evidence and indicate no relationship exists between returns and competition. Speculation may induce stock prices to deviate from normal values. Because normal values assume no speculation, Chinese markets are not likely to be economically efficient.