Industry‐specific Exchange Rate Fluctuations,Japanese Exports and Financial Constraints: Evidence from Panel Vector Autoregressive Analysis

Using a panel vector autoregression approach and industry breakdown data for financial constraints obtained from the Bank of Japan's Tankan (Short‐Term Economic Survey of Enterprises in Japan) database, this study empirically investigates whether and how Japanese firms' financial constraints (internal and external) influence the response of Japanese sectoral exports to an exchange rate shock. Furthermore, we use the industry‐specific real effective exchange rate data developed by to allow for different movements of real effective exchange rates across industries. It is found that financial constraints have a significant influence on Japanese exports in response to exchange rate shocks. Japanese exporters with either lower internal financial constraints or external financial constraints are less affected by the yen's appreciation. In addition, if firms face high external financial constraints, only reducing the internal financial constraints cannot help them mitigate the impact of the yen's appreciation on their exports. Thus, an accommodative financial environment also plays an important role in alleviating the impact that the yen's appreciation has on Japanese exports.     

China's Free Trade Ports: Effective Action Against the Threat of De‐globalization

With sluggish external demand and increasing trade protectionism by the USA and the European Union, China is facing severe challenges in implementing its deeper, ongoing reforms. To respond actively to such challenges, the Communist Party of China's 19th National Congress proposed to “promote a new pattern of all‐round opening up.” In particular, the establishment of free trade ports is considered an important means to realize deeper integration with the world economy. This paper discusses the background, the motivation, the possible challenges as well as a feasible path for the successful implementation of free trade ports in China. Based on the international experience, the construction of free trade ports in China requires freer trade in goods, high mobility of talent and free capital flow.     

Inequality‐averse well‐being measurement

We construct individual well‐being measures that respect individual preferences and depend on the bundles of goods consumed by the individual. Building on previous work in which general families of well‐being measures are identified, we introduce basic transfer principles that apply either to bundles or directly to indifference sets, and we characterize specific well‐being measures that involve either the ray utility or the money‐metric utility.     

经济新常态下资源型城市可持续发展研究——以鹤岗市为例

资源型城市在经济新常态发展的大背景下,面临着产业结构发展单一、资源与环境压力等众多问题。为了使资源型城市能够绿色健康的发展,对其进行经济新常态下的可持续发展研究十分必要。从经济新常态下的资源型城市发展分析出发,以鹤岗市为例,选取2007-2016年的数据,运用AHP与因子分析综合评价法进行经济新常态下鹤岗市可持续发展评价、分析并提出建议,最后提出经济新常态下鹤岗市可持续发展的具体实施路径。结果表明,实现可持续发展是经济新常态下资源型城市发展的必然选择。十年间经济新常态下鹤岗市可持续发展的总体水平呈先上升后平稳趋势,近几年经济、资源子系统具有明显阻碍作用。经济新常态下鹤岗市的可持续发展路径,要紧密结合经济新常态特征与可持续发展理念,并从鹤岗市实际条件出发,才能够保证具体实施路径的合理性。     

枢纽机场航班延误恢复模型研究

为了快速恢复枢纽机场航班积压,减少枢纽机场的大面积航班延误。在航空和高速铁路联合运输的思想上延伸,以恢复成本最小化为目标,建立枢纽机场大面积航班延误恢复模型,确定短途航班的取消、延误或航班被高速铁路运输替代,实时恢复航班。利用MATLAB对上海虹桥国际机场航班延误数据求解,结果显示高速铁路替代模式相对航班地面延迟、航班取消等方案使恢复成本降低15%,节省恢复时间30min,验证模型恢复枢纽机场大面积航班延误可行、有效。     

The scope and scale of the informal food economy of South African urban residential townships: Results of a small-area micro-enterprise census

Growing urbanisation in South Africa is reflected in burgeoning Working class and informal township settlements on the fringes of its major towns and cities. Paired with this is an increasing reliance on cash as the primary means of economic transaction, which has in turn stimulated the growth of micro-enterprise business activities within the township context. This article discusses the findings of an eight-township small-area census which occurred between 2010 and 2013 in Cape Town, Johannesburg, Ekurhuleni and Durban townships representing 250 000 residents. The researchers were able to establish the scope and scale of informal food and drink retailing in these localities. Of the 10 049 micro-enterprises located in the study, some 3966 (or 39% of the total) trade in food. These include enterprises in primary production, fresh produce retailing, grocery retailing from house and spaza shops, and informal foodservice enterprises. Food is the basis for much township informal business and plays an important role in making food increasingly affordable and locally accessible, and in creating cash employment. The article builds on the knowledge base of the township informal economy role in bolstering food security needs for the marginalised.     

干法烟气脱硫渣在建材行业中高技术附加值利用的探讨

文章阐述了目前国内外对干法脱硫渣综合利用的现状,以胶凝材料学以及水泥化学为理论基础,将干法脱硫渣中的物质划分为三类,并提出在充分激发其活性的基础上,对干法脱硫渣进行高技术附加值的利用,并详细阐述了其原理和途径。     

会计本质在知识经济背景下的新诠释

知识经济对会计本质的传统认识即“会计信息系统论”、“会计管理活动论”和“会计控制论”产生了冲击和影响。这三项理论不能完整的概括会计的内在本质,都需要进行深化和丰富其内涵．对于信息系统论建议加上信息整合系统;对于管理论,应加上价值增值管理,使两种说法更具有知识经济的时代特色。     

资源型城市发展循环经济评价指标体系与方法研究

循环经济的提出为资源型城市的可持续发展提供了新思路。文章在充分理解循环经济内涵的基础上,针对资源型城市发展现状,系统科学地提出了一套切实可行的对资源型城市发展循环经济状况进行评价的指标体系,并合理选择了评价方法。     

国际经济背景下美元贬值的原因、影响及对策分析

美元贬值主要是由美元与主要经济体货币调整不同步以及方向选择差异而形成。对于不同经济体而言,美元贬值存在着非常分明的正负效应,由此导致了各国政府态度认识上的不同。同时,总体上美元的渐次贬值有利于全球经济走向均衡,但速率过猛的美元贬值却会破坏国际经济的均衡。因此,未来美元的下跌空间会受到限制,“美元危机”只是一个伪命题。