Convergence Rates to Output Growth in a Global World: The Roles of Openness and Government Size

In this article, we examine the effects of three openness measures on 54 industrial and emerging economies' output growth over the “globalization years” of 1986–2004. Controlling for standard determinants of the Solow growth model in panel data, we find positive effects of openness on real output growth. While we find support for higher convergence rates under the open economy, the convergence rates in this article for both samples are remarkably close to the 2% level documented in Mankiw et al. (1992) Mankiw, G., Romer, D. and Weil, D. 1992. A Contribution to the Empirics of Economic Growth. Quarterly Journal of Economics, 107(2): 407–437. [Crossref], [Web of Science ®] , [Google Scholar]. The inclusion of G/Y, however, reduces the speed of convergence more substantially in industrial economies.     

Does International Trade Catch Up with National Trade of Countries? Yes

The article applies an index suggested by Jeffrey Frankel on how to measure the gap between the intensity of national versus international transactions of a country to more than 100 countries over four periods between 1990 and 2005. The gap stands for “incomplete” globalization. It is shown that the gap has steadily declined for most countries over the sample period, irrespective of income levels. While larger economies are still less globalized than small economies, differences in domestic market size have become less important as a dividing line between more and less globalized economies.     

Food insecurity,income inequality,and the changing comparative advantage in world agriculture

I would like to argue in this article that in the process of economic development in land‐poor countries in Asia, agriculture faces three distinctly different problems: food insecurity, sectoral income inequality, and the declining food self‐sufficiency associated with the declining comparative advantage in agriculture at the high‐income stage. Massive imports of food grains to Asia, if they occur, will aggravate the world food shortage, which will have significant implications for the poverty incidence in the world. I argue that in order to avoid such a tragedy, Asia should expand farm size to reduce labor cost by adopting large‐scale mechanization, sub‐Saharan Africa should realize a green revolution in grain production, and Latin America should further expand its grain production capacity.     

会计稳健性、经济租金与企业剩余收益

通过实证研究会计稳健性与企业剩余收益的关系,以及会计稳健性与经济租金对企业剩余收益的交互影响,发现会计稳健性与企业的剩余收益显著正相关,而会计稳健性和经济租金对企业剩余收益的交互影响较为复杂,其中：稳健性与研发密度、广告密度对剩余收益有显著的正面影响,但稳健性与企业规模、市场份额、流通股比例和资本密度对剩余收益的交互效应不明显。可见,提高会计稳健性,并不一定能为企业带来额外的经济租金收益。     

中小民营企业融资创新研究：融资路径依赖与内生性契约构建

中小民营企业融资难问题的实质是中小民营企业不能在较高层次的货币市场和资本市场上如愿地获得资金支持。目前解决中小民营企业融资难问题的关键在于,创新金融制度安排,构建一种能够使外部投资者与中小民营企业建立起横向信用联系的内生性融资契约。在我国既有的金融契约框架下,通过适当的融资结构设计和制度安排,信托私募融资能够最小化中小民营企业融资的代理成本和信息成本,从而使中小民营企业能够沿着既有的融资路径有效地获得所需的资金。     

中国企业规模与年龄对企业成长的影响——来自制造业上市公司的面板数据

本文基于2003—2006年中国制造业上市公司的面板数据研究发现：（1）中国制造业企业的规模与成长的关系不符合Gibrat法则,即规模并不是独立于成长的变量;（2）总体上,规模对于企业成长有正面影响,规模越大的企业成长率越高;（3）年龄对于企业成长有负面影响,年龄越大的企业其成长率越低。本文基于各细分行业的研究样本进一步发现,规模和年龄对于企业成长的影响在制造业各细分行业有所不同。     

珠三角中小企业如何进一步发展

珠三角中小企业有改革开放20多年的积累,有鲜明的特点和优势,目前,珠三角中小企业正面临新的发展机遇。应在以下5个方面采取对策:①第二次解放思想;②实施"专、精、特、新"的发展战略;③完善法人治理结构;④加快管理信息化建设;⑤争取上市。     

企业发展和规模经济探析

随着我国加入WTO,经济的不断发展与市场的不断开放,企业面临的竞争环境更加复杂,竞争愈加激烈,我国企业须提高企业经济规模,通过并购、组建企业集团等方式来实现规模经济,避免规模不经济,从而实现企业长远发展的目的。本文通过对企业发展的模式、面临的问题、规模经济与经济规模含义的比较认识,以及主要实现途径进行了探讨,进一步加深了对企业的核心竞争能力带来企业规模扩张,而规模优势又强化了对企业的核心竞争力理论的认识。     

货币渠道与信贷渠道的比较研究——基于1994年至2011年季度数据

货币政策传导机制素有货币渠道和信贷渠道之分.我国GDP受到货币供应量和贷款余额的共同影响,在两个标准差的货币政策变量冲击下,贷款余额对我国GDP的影响大于货币供应量,而随着时间的推移,货币渠道的影响在逐渐加大,信贷渠道的影响则相对减弱.     

国内证券投资基金组合规模与风险关系的实证研究

本文选取2010年7月10日—2012年2月29日之间基金的数据,运用证券投资组合模型对国内各种类型的证券投资基金进行风险与组合规模关系的研究,结果发现,随着组合规模的增大,风险逐渐减少,当规模增大的一定程序,风险趋于一稳定值,不同类型的证券投资基金有着不同的最优组合规模。