论国际经济法的形成发展与知识产权国际保护

国际经济法是国际公法的一个重要组成部分，它经过了三个阶段的形成与发展。特别是自上世纪70年代以来，国际知识产权组织成立，国际知识产权的法律地位日益突出，知识产权的法律保护也就成为各国关注的焦点。如何推动更公平、平等的国际经济新秩序和知识产权法律的完善与发展，是值得研究的新课题。     

国际资本流动对中国货币政策影响的实证研究

在开放经济的"三元冲突"中,中国选择了固定汇率,较严格的资本管制和较大的货币政策独立性,即用少量货币政策独立性的丧失换取有限度的资本流动.但在这种组合下,随着我国资本流动规模的扩大,货币政策独立性也将进一步丧失.对于中国,货币政策的自主权至关重要,除非有能力继续维持更严格的资本管制,我国必须逐步扩大汇率的浮动区间.     

企业价值转移和资本结构:一项实证分析

本文选取2001年沪深A股677家上市公司的市场和财务数据,首先检验两个指标是否具有显著相关性:市值规模比和长期负债比率。并按价值转移理论,利用市值规模比把677家上市公司划分为三组:价值流入期、价值稳定期和价值流出期。实证研究处于不同价值转移阶段企业资本结构的特点。     

募集资金投向对公司经营业绩的影响分析——来自上市公司的证据

本文以2000年、2001年、2002年通过首次发行股票、配股和增发来募集资金的上市公司为对象,对募集资金的投向与公司经营业绩之间的关系进行研究。结果表明:上市公司募集资金正常投向的比率与上市公司的经营业绩显著正相关,正常投向中主业投资有利于公司经营业绩的提高;对外投资与公司经营业绩在第一年有显著相关关系,但不具有持续性;偿还债务与公司业绩之间有显著负相关关系。募集资金变更投向与公司经营业绩之间有显著负相关关系,募集资金变更为对外投资和募集资金闲置与公司经营业绩显著负相关。     

Domestic financial market frictions,unrestricted international capital flows,and crises in small open economies

Summary. We present an example of a small open economy where small increases in the world interest rate may induce a sharp decline in output and a precipitous depreciation of the exchange rate. Due to a costly state verification problem in domestic credit markets, combined with unrestricted international capital flows, our economy generates two long-run equilibria, one with low GDP and a relatively depreciated real exchange rate (RER), and one with high GDP and a relatively appreciated RER. The first is always a saddle, while the second may be a sink or a source, depending on the level of the world interest rate. A crisis is identified with the economy switching from an equilibrium path approaching the high-output steady state to the saddlepath approaching the low-output steady state. In Mexicos recent history, periods of growth associated with appreciation of the RER have alternated with periods of sharp contraction and depreciation of the RER. Our economy displays such behavior in response to changes in the world interest rate.Received: 9 April 2002, Revised: 20 March 2003JEL Classification Numbers: E5, F4.G. Antinolfi, E. Huybens: We thank Steve Fazzari, Tim Kehoe, Todd Keister, Manuel Santos, Karl Shell and especially Bruce Smith for very helpful discussions. Jaime Calleja Alderete, Eduardo Camero Godínez, and Juan Vargas Hernández provided excellent research assistance. All remaining errors are ours. Huybens was an assistant professor in the Centro de Investigación Económica, ITAM, at the time this article was written, and part of this work was completed while Antinolfi was a visiting scholar at the Federal Reserve Bank of St. Louis. The views expressed herein are those of the authors, and do not reflect those of the World Bank or the Federal Reserve Bank of St. Louis. Correspondence to: G. Antinolfi     

Joint outputs and real wage rates

The magnification effect in standard international trade theory asserts that if the relative price of the labor-intensive commodity increases, the real wage will also increase, as will the wage/rental ratio. This result depends upon the assumption that both activities are nonjoint—each combining labor and capital to produce a single output, so that if activities are joint instead, the results are in jeopardy. It is shown that if the difference between the share of commodity one produced in the first activity and in the second activity exceeds the difference between the labor distributive shares in the first activity and the second, an increase in commodity 1's relative price raises the wage/rental ratio. The real wage unambiguously rises in this case if and only if the ratio of the commodity output shares in the two activities exceeds the ratio of labor shares.     

中国城市农民工社会资本现状分析及解决途径

我国城市农民工处于城市边缘地带，社会资本占有贫乏。造成这种状况既有制度原因、城市居民的价值观念原因，亦有农民工自身的原因。我们应改变制度，改变城市居民价值观念，提高农民工综合素质，加快发展经济和加快城市化建设以增加城市农民工的补偿资本。     

信息不对称资本市场的实验研究

我们采用经济学实验研究方法构建了信息不对称的实验室资本市场,研究信息是否可以通过市场迅速传递。实验结果表明,在信息不对称的情况下,资本市场是非有效的;市场对信息的传递和价格反应是有条件的而且也是需要时间的;资本市场中的投资者并非完全理性,而是具有认知和行为偏差的普通人,存在过度自信和过度交易的情况;信息不对称还可能引起市场操纵行为,从而导致价格泡沫的形成。     

社会资本与妇女农民工就业

在妇女农民工从农业到非农业的职业流动过程中,社会资本是影响其流动决策的重要变量之一,对其就业发挥了不可替代的作用.但由于所拥有的社会资本量极其有限等重要因素的影响,妇女农民工基本上都属于"非正规就业",地位低下.改变这种状况的根本办法之一就是采取多种措施有效增加其社会资本的积累.     

西方经济学资本计量困境与马克思经济学的科学论断

资本计量既是重要的理论问题,也是涉及微观经济活动的现实问题。在资本计量问题上,西方经济学由于对资本概念内涵有着不同的理解,提出了许多不同的计量方法。这些方法有的在理论上存在逻辑问题,有的与现实经济生活相差较远。本文认为,马克思主义经济学对资本概念的理解既解决了资本计量的理论问题,又符合现实经济生活中会计实践需要,科学地揭示了资本实质,对经济生活具有根本的指导意义。