Institutionalized pollution havens

A multiple-principal, multiple-agent lobby group model suggests that the effect of foreign direct investment (FDI) on environmental policies is conditional on the structure of host countries' political institutions such as the number of legislative units (veto players). The model also yields the novel concept of “aggregate honesty” which combines veto players and corruption. FDI raises environmental policy stringency where the number of legislative units are many (aggregate honesty is high), but reduces it where the legislative units are few (aggregate honesty is low). Our panel data evidence is fully consistent with these predictions. An additional contribution is to show the empirical importance of endogenizing environmental policy in Pollution Haven Hypothesis studies. Only when treated as endogenous does environmental policy have a significant negative effect on FDI.     

基于波特模型的中国汽车行业竞争环境研究

上世纪90年代初期中国的私人购车消费开始起步,如今经过20多年的发展,我国的汽车工业已经取得了很大的成就并且发展成为我国的支柱性产业。本文聚焦于中国汽车产业,通过对我国汽车产业的波特五力模型进行分析以及对波特模型的补充分析,对当前的产业竞争现状和未来的发展进行了研究。     

Trade and Specialisation in Pollution Intensive Industries: North–South Evidence

Abstract

The pollution haven hypothesis (PHH) and the capital-labour hypothesis (KLH) state that the relative level of a country's environmental regulations and capital and labour endowments determines its comparative advantage respectively. Since these hypotheses lead to conflicting predictions as to whether the North or the South will specialise in pollution-intensive production, this paper examines whether changes in trade and specialisation patterns allow us to distinguish between pollution haven and factor endowment effects. We employ a methodology that enables us to present North-South trade patterns over time and to identify those periods when trade patterns were consistent with either the PHH and/or the KLH as a foundation for undertaking more detailed econometric studies.     

国际贸易与环境——相关假说的评述

国际贸易对环境的影响问题在自由贸易论者与环境保护论者之间,引发了激烈的争论。自由贸易论者认为自由贸易将使环境质量得以改善,而环境保护论者则认为贸易自由化会导致环境质量的退化。在双方的争论过程中,形成了国际贸易对环境影响的几个假说。本文对这几个假说进行了简要评述,并指出了其合理性及存在的缺陷。     

The Development of Community Tourism： A Relational View of Development Economics

By adopting the research method of documentary research, combining the related theory of development economics, and starting with the concept of community tourism, this paper brings forward the ＂Dual Structure＂ and the Kuznets Hypothesis of community tourism, and defines ＂the game theory＂ between the residents of community and tourists, as well as the increasing relationship between the per capita tourism income of community and the Geordie Modulus of community. Conclusively it puts forward the way of developing the tourism and community harmoniously, namely, taking the human as the dominant factor and being joined by the community.     

基于钻石模型的甘肃省定西市马铃薯产业竞争力分析

马铃薯是定西市的优势产业,也是特色产业。近年来,一带一路的发展增加了定西市马铃薯进入市场的渠道,但是与国内具有良好马铃薯资源条件的内蒙、贵州等生产区域之间仍然存在着差距和竞争。在借鉴已有研究成果的基础上,以定西市马铃薯的产业为研究对象,运用波特的钻石模型即从需求条件、同业竞争、要素条件、相关和支持产业以及机会和政府等对定西市马铃薯产业竞争力的影响,找到提高定西市马铃薯产业竞争力的途径。     

关于公有经济收入差别倒U理论的讨论与验证(上)

在经济发展方式逐步从增长型向分配型、从生产型向消费型、从建设型向民生型转变的过程中,回顾和总结学术界关于居民收入分配差别的讨论显然是必要的。文章从多个方面回顾、分析和考察了"公有经济收入差别倒U理论"这一理论模型提出后的争论焦点及演变过程,包括围绕这一理论所讨论的主要内容,比如有关公有制经济与私有制经济条件的比较分析,有关劳动差别、劳动供求、剩余/生计比以及农村收入差别大于城镇差别等两部门内部各种因素的趋势、二元结构部门转换影响收入差别的讨论,有关国有资本积累及改革引起的民营资本积累、税收政策和体制改革对收入差别变动趋势的影响的讨论,以及这一理论在中国的验证等。分析表明,目前中国居民收入差别还在沿着公有经济收入差别倒U曲线的前半段逐步呈"阶梯形"上升,但上升的势头已经趋缓,并且个别方面比如城市化等因素导致的收入差别已经初现下降趋势。     

中国股票市场换月效应及其成因的实证研究

本文以上证指数和深成指数为研究对象,用ARMA—GARCH模型就换月效应在我国沪深两市的存在性及其成因进行了实证检验,结果发现换月效应在样本研究期间的沪深两个市场普遍存在,采用滚动样本检验进行的稳健性分析也支持这一结论。为了研究换月效应的成因,本文根据我国基金业的发展特征构造了相关的假设检验,结果发现我国股市的换月效应在证券投资基金出现之后显著增强,而在之后基金业较为规范的一个时期换月效应又有所减弱,表明窗饰假说对我国股票市场换月效应具有相当大的解释力。     

中国区域经济发展差距的趋势及其特征——基于GDP修正后的数据

本文主要利用第一次全国经济普查所提供的各区域GDP资料,研究了1952—2008年间,中国区域经济发展的差距、趋势及收敛状况。根据实证结果,本文发现:利用修正后GDP计算的变异系数要低于修正之前的;改革开放以后的区域差距要低于改革开放之前;1952年以来中国区域经济发展差距呈现Amos假说的周期性变化过程;较低经济发展水平和较高经济发展水平的区域分别在区域差距缩小和扩大的过程中起到了主要的作用;改革开放以来的区域差距符合收敛假说。     

Adaptive market hypothesis: The story of the stock markets and COVID-19 pandemic

Since the level of markets’ information efficiency is key to profiteering by strategic players, Shocks; such as the COVID-19 pandemic, can play a role in the nature of markets’ information efficiency. The martingale difference and conditional heteroscedasticity tests are used to evaluate the Adaptive form of market efficiency for four (4) major stock market indexes in the top four affected economies during the COVID-19 pandemic (USA, Brazil, India, and Russia). Generally, based on the martingale difference spectral test, there is no evidence of a substantial change in the levels of market efficiency for the US and Brazilian stock markets in the short, medium, and long term. However, in the long term, the Indian stock markets became more information inefficient after the coronavirus outbreak while the Russian stock markets become more information efficient. Intuitively, these affect the forecastability and predictability of these markets’ prices and/or returns. Thereby, informing the strategic and trading actions of stock investors (including arbitrageurs) towards profit optimization, portfolio asset selection, portfolio asset adjustment, etc. Similar policy implications are further discussed.