浅析我国会计国际化的现状和发展趋势

随着全球经济一体化的不断发展,各国在资本市场国际化的大环境下,在构建特色经济体制的形势下,开始不断探索和发展会计国际化的方向与进程。探讨我国经济环境下会计国际化的现状及日后发展趋势,有利于完善我国现有的会计制度和会计准则,加快我国经济的发展步伐。     

Balance of payments accounting and exchange rate dynamics

The balance of payments is an accounting identity. Many wonder how the current and capital accounts, which add up to zero, can influence exchange rates. This paper shows how payment flows arising from balance of payments imbalances affect the demands for different currencies in the foreign exchange market over time. Based on a dynamical system approach, the paper demonstrates how international payments evolve depending on the joint dynamic behaviour of different balance of payments components. It finds that international payments and exchange rates interact in fundamentally different ways depending on whether a country restricts its capital inflows and outflows, whether capital flows are accommodating or autonomous and whether the exchange rate is fixed, flexible or, say, governed by a crawling peg. Empirical evidence from major industrial countries as well as from countries hit by currency crises support the paper's theoretical predictions.     

全球经济危机给中国高校国际化带来的新挑战及其思考

本文从国际合作与交流的角度出发,分析了当前全球经济危机给中国高校国际化带来的新机遇和新挑战,进而从课程建设、师资队伍建设、管理队伍建设三个方面,对如何应对新挑战、抓住新机遇进行了初步的探讨。     

Defensive Strategies of Local Companies Against Foreign Multinationals: Evidence from Chilean Retailers

ABSTRACT

Many retailers have been expanding into foreign markets, although not all such attempts at internationalization have been successful. This study examines the actions taken by Chilean retailers that negatively affected the operations of Home Depot, Carrefour and J.C. Penney in Chile. The results show that the strategies employed by local companies have consisted in: (1) becoming informed about the company's strengths and weaknesses, while imitating its best practices; (2) deepening their own market know-how and hiring high-level executives to lead defensive strategies; (3) opening stores in strategic places in order to win advantages concerning location; and (4) investing in technology and the training of employees. The overall effect on the market has been one of concentration and consolidation of the retail industry.

RESUMEN. Muchos retailers se están expandiendo a mercados extranjeros, sin embargo no todos los intentos de internacionalización son exitosos. Este estudio examina las acciones desarrolladas por retailers chilenos que afectaron negativamente la operación en Chile de Home Depot, Carrefour, y J.C. Penney. Los resultados de esta investigación muestran que las estratégicas empleadas por las empresas locales consistieron en (1) informarse en forma anticipada las fortalezas y debilidades de la empresa extranjera e imitando sus mejores prácticas, (2) fortaleciendo su conocimiento del mercado y contratando ejecutivos fuertes para liderar la estrategia defensiva, (3) apertura de locales en ubicaciones estratégicas para bloquear ventajas de localización, y (4) inversión en tecnología y capitación a los empleados. Los efectos sobre el mercado total fue de mayor concentración y consolidación de la industria.

RESUMO. Muitos varejistas têm expandido seus negócios para mercados estrangeiros, embora nem todas estas tentativas de internacionalização tenham sido bem sucedidas. Este estudo examina as aç[otilde]es implementadas por varejistas chilenos, as quais afetaram negativamente as operaç[otilde]es da Home Depot, Carrefour e J.C. Penney no Chile. Os resultados mostram que as estratégias empregadas pelas companhias locais consistiram em: (1) informar-se sobre os pontos fortes e fracos da companhia, ao mesmo tempo em que replicavam suas melhores práticas; (2) aprofundar o conhecimento a respeito de seu próprio mercado e contratar executivos de alto nível para liderar estratégias defensivas; (3) promover a abertura de lojas em locais estratégicos com o objetivo de conquistar vantagens relativas à localização; e (4) investir em tecnologia e no treinamento de funcionários. O efeito global desses movimentos no mercado tem sido o de promover a concentração e a consolidação da indústria varejista.     

美国劳工组织对中美贸易关系的影响——以PNTR案和货币操控案说起

中美贸易关系历来受多种因素影响,美国国内劳工组织在中美贸易摩擦的两个典型个案中起到了一定的影响。其行动的一般规则及目的需要进一步研究及分析,从而利用这些规则来为中美贸易关系润滑,减少不利因素最终提高贸易关系成功的可能性。     

Reactions to Shocks and Monetary Policy Regimes: Inflation Targeting Versus Flexible Currency Board in Sub‐Saharan Africa

The paper examines the monetary policy actions through which central banks in sub‐Saharan Africa have tried to eliminate the negative impacts of the shocks facing their economies. We compare two different monetary policy regimes: a currency board regime (in the CFA zone) and an inflation targeting policy regime (Ghana and South Africa) when central banks respond to demand, supply, and fiscal shocks. We extend the usual forecasting and policy analysis system models to replicate the economic features of these economies during the period 2002–12 and to evaluate the impact of several policies in response to these shocks. We find that both policies are inappropriate in helping the economies escape from the effects of negative demand shocks, both are essential when negative shocks to primary balance occur, while inflation targeting dominates the currency board regime as a strategy to cope with positive shocks to inflation.     

东亚货币合作可行性的经济数据检验——基于OCA理论的分析

在最优货币区理论构筑的分析框架下,东亚区域在经济开放度、出口产品结构相似性、经济冲击对称性方面达到了OCA理论的标准,而在生产要素的流动性、金融市场一体化等方面距离最优货币区的标准尚有差距,但是这种差距正在缩小。通货膨胀相似性方面东亚整体虽未满足OCA标准的要求,但是有次区域已经符合这一标准。考虑到最优货币区标准的内生性,而且大量文献通过对东亚地区进行分组并采用不同的研究方法,证明东亚地区存在形成最优货币区的潜力,因而对次区域的货币合作可行性分析依然乐观。     

中国制造业大企业国际化研究现状与趋势

国内外对制造业大企业国际化的研究现状主要体现在动因、国际化程度与绩效、影响因素,以及中国制造业大企业国际化阶段的判断和政策支持等方面。研究趋势表现在制造业大企业国际化理论流派的整合与创新,总结现有制造业大企业国际化的成功模式,以及实证分析中国制造业大企业国际化的相关问题。     

香港联系汇率制度的现实启示及未来挑战

本文针对香港联系汇率制度的形成历史以及原因,总结出香港的联系汇率制度形成的偶然性申的必然性,分析香港联系汇率割度的优势和弊端,以及此项制度对于香港金融市场的重大意义。针对日新月异的国际资本市场,香港也面临着挑战,香港也必须与时俱进,加强和人民币之间的联系,进而形成合理的汇率机制。本文最后勾画了香港汇率制度未来的发展前景。     

基于内生性视角的人民币国际化研究

当前人民币国际化优势与劣势并存。中国经济实力和综合国力增强,金融机构国际地位提升,人民币公信力提高,人民币国际化环境改善等,使得人民币国际化具有占优条件。另一方面,金融市场不够发达,资本项目较低的开放度,人民币不能够自由兑换,又使得人民币处于国际货币竞争劣势。从货币国际化竞争条件内生性理论来看,需要动态看待人民币国际化条件：随着人民币国际化的推进,将一定程度上促进人民币国际竞争条件的改善。中国应采取分步实施策略、同步推进金融市场与人民币国际化进程、促进贸易发展和提高综合国力、＂两个平行金融市场＂制度推进金融市场建设、完善人民币汇率形成机制、加强区域合作等有效措施,改善人民币国际化竞争条件。