Forms of Foreign Investment Liberalization and Risk in Emerging Stock Markets

I examine the effect of different forms of foreign investment liberalization on risk in emerging equity markets, including international cross-listings and closed-end country funds, and in the domestic equity market as foreign investment restrictions are eliminated. I find that in Latin American markets volatility declines significantly with different forms of foreign investment liberalization, and in Asian markets volatility does not increase significantly. Volatility is driven by domestic factors in South America, but the transmission of volatility from the United States to Mexico increases after liberalization. The market risk exposure increases in Argentina after liberalization, in Chile with an index of American Depositary Receipts, and in Thailand with greater foreign ownership, reducing the diversification benefits of these markets.     

Demographic and Economic Pressure on Emigration out of Africa*

Two of the main forces driving European emigration in the late nineteenth century were real wage gaps between sending and receiving regions and demographic booms in the low‐wage sending regions. Our new estimates of net migration for the countries of sub‐Saharan Africa show that exactly the same forces driving African across‐border migration are at work today. The results suggest that rapid growth in the cohort of potential young emigrants, population pressure on the resource base, and slow economic growth are likely to intensify the pressure for migration out of Africa and into high‐wage OECD countries over the next two decades.     

Price rigidities and institutional variations in markets with posted prices

Summary Standard laboratory posted-offer markets respond slowly and incompletely to demand shocks. In these one-sided markets, where sellers control the setting of prices, very little information is transmitted via the process of exchange. For this reason, traders have trouble distinguishing randomness in their own experience from changes in market fundamentals. This paper reports the results of twelve laboratory markets conducted to assess whether some common variants to standard posted-offer rules can correct the adjustment deficiences. Although discounting, multiple postings and excess demand information all improve performance, we find that response remains poor, and efficiencies low.Support for this research was provided by the National Science Foundation (SBR 9319842 and SBR 9320044), and the University of Virginia Bankard Fund. Data are archived at FTP address: fido.econlab.arizona.edu. We wish to thank Charles Plott and Shyam Sunder for useful comments on an earlier draft of this paper. The usual disclaimer applies.     

OpenGL矿山虚拟设计及其应用

设计了系统的基本思路,在Visual Studio 2008数据库的基础上,利用OpenGL对矿山巷道,硐室设计等进行三维可视化虚拟,并通过数学模型,对矿井设计进行分析与纠错处理,用C#实现系统的功能。     

提升农村公共危机管理能力——建设社会主义新农村的必经之路

2006年关于三农的"一号文件"提出了建设社会主义新农村的战略构想,为了建设社会主义新农村,我们必须认清我国农村潜伏的危机,并力图提升我国农村公共危机管理的能力.关于农村公共危机,文章着重分析了我国目前农村公共危机的五种类型,最后根据张成福的"全面整合"模式提出了提升农村公共危机管理能力的七种途径.     

Intra-industry trade in the European computers industry

Intra-Industry Trade in the European Computers Industry. —This paper analyzes the pattern of intra-industry trade in the European computers industry. Hypotheses regarding both country-specific and industry-specific factors are tested. Those include proxies for level of economic development, market size, market proximity, scale economies and market concentration. The problem of categorical aggregation is explicitly addressed and a method to overcome is suggested. The results of the econometric analysis corroborate the predictions of the theoretical models and their ability to identify at least some of the crucial factors driving to international specialization.     

What is the major determinant of cross-border banking flows?

This study examines the major determinant of cross-border credit flows through global banks across 70 countries. Employing a Bayesian dynamic latent factor model, we decompose volatilities of banking flows into the contribution of a global common factor, regional common factor, and country-specific factor. The results indicate that the global and regional common factor explains about 40–50 percent of volatility in overall cross-border banking flows. In particular, the contribution of the global common factor increased in the 2000s. Simultaneously, main determinants are largely heterogeneous across countries: this implies that the desirable policy response to credit inflows may differ for each host country.     

“2＋1”工学结合工作站管理顶岗实习“1”的模式初探——以常州机电职业技术学院“2＋1”工学结合为例

推行工学结合，加大高职大学生实习的力度，是贯彻国家教育方针、路线、政策的重要举措之一。常州机电职业技术学院实施“2＋1”工学结合工作站管理学生的顶岗实习，即承担三年制高职最后“1”的教学、教育、管理，作为一种模式，是一种探索，也是一种创新。     

应用立体化文献检索课模式提高读者服务水平

文章分析现阶段广西高职院校文献检索课存在的主要问题,通过对广西20所高职院校开设文献检索课的教学效果进行统计分析,结合现阶段文献检索教学特色,提出在广西区内高职院校的文献检索课中运用立体化教学模式以提高读者服务水平。     

探索“2+1”人才培养模式中“1”的实践教学规划和管理体制

本文主要对我国高等职业教育的人才培养模式问题进行了研究,尤其是对"2+1"人才培养模式中最后一年的实践教学规划和管理体制进行了深入探讨,提出了4个方面的建议和具体措施。