Trade cost reduction and foreign direct investment

While the “proximity-concentration” theory suggests a positive relationship between trade cost and foreign direct investment (FDI), there is ample evidence showing a negative relationship between them. We show that the possibility of exporting back to the home country from a host country, which is often referred as “home-country export platform FDI”, may generate a negative relationship between trade cost and FDI. Market demand and product market competition may play important roles in this respect.     

Tourism's climate mitigation dilemma: Flying between rich and poor countries

Stronger demand for medium- to long-haul air transport is the main driver of the tourism industry's increasing greenhouse gas (GHG) emissions, causing the current development of global tourism to be environmentally unsustainable. Efficiency improvements and biofuel usage are unlikely to maintain pace with the projected growth in transport volume. Therefore, curbing the growing demand for air transport has been suggested as another option for the sustainable development of tourism. However, the political and industry discourse concerning the restriction of air transport tends to label such a restriction as unethical, as such limits would impair the development that tourism brings to poor countries. This paper investigates the possible impacts of air travel restrictions on the least developed countries (LDCs) and non-LDCs by examining global tourism. The impacts on LDCs are found to be ‘neutral’ on average, with both losses and gains in tourist arrivals. The extent of any losses does not appear to be beyond the scope of possible economic compensation.     

货运量回归预测工具EXCEL和SPSS结合应用研究

对货运量预测工具EXCEL和SPSS各自的优缺点进行了分析，在此基础上建议将两种预测工具相结合，提出如何．陕速、准确得出预测值并作出预测图表的方法和步骤，最后以某市社会货运量统计为样本，进行实例说明。     

广深高速载货汽车超载特征分析

基于连续一周的广深高速交通量观测数据，对其交通量和货车超载特征进行详细分析．表明广深高速存在较为严重的超载现象。     

基于高性能混凝土的应用研究

本文通过介绍高性能混凝土的发展历史背景以及目前国内外的研究现状,阐明了高性能混凝土的特性。不仅列举了高性能混凝土在国内外研究应用的重要成果,更对高性能混凝土的发展趋势做出了展望。随着我国建筑行业向着高层化、大型化以及现代化的方向发展,高性能混凝土势必会成为新世纪重要的建筑工程材料。     

The explanatory power of trading volume and insider activity in a pari-mutuel betting market

In this paper, we examine the role played by the holders of privileged information (insiders) in stimulating trading volume which adds explanatory power to a price-based model of returns in a market where the actions of insiders can be isolated – a pari-mutuel betting market. We conduct conditional logit analyses based on data relating to 19,164 horses running in 2078 races (49 racetracks) staged across the UK between 1 June and 31 August 1996. These analyses indicate that prices generally fail to incorporate fully information contained in trading volumes. However, the betting public fully discounts volume information in markets most commonly viewed as attracting bets from insiders. Isolation of the actual degree of insider activity sheds light on the variation in volume effects.     

以外向型经济带动南贵昆区域农业产业化发展模式研究

论文以外向型经济作为切入口,在分析南贵昆区域特点及农业产业化发展现状的基础上,研究以外向型经济带动南贵昆区域农业产业化发展的使命和战略模式:以沿海港口、外资以及国际市场为联结,组建区域农业产业化肌体、构建农业产业化发展的区域经济网络和协作战略模式。     

Economic openness and trade linkages of China: An empirical study of the determinants of chinese trade intensities from 1993 to 1999

In the 1980s, the Chinese regime took a number of piecemeal steps toward economic liberalization. This process accelerated impressively in the 1990s. This paper reports an empirical study into the determinants of the emerging pattern of Chinese trade (export and import) intensities in the liberalization decade by exploring international trade statistics for 1993 and 1999. Four models are estimated that explain the shifts in the export and import intensities of the trade with different trade partners in the 1993–1999 period. The estimation results reveal differences for export vis-à-vis import trade intentities, as well as for 1993 compared to 1999. For example, the political determinants of trade intensities that were still very important in 1993 have been moved to the background by economic explanations in 1999. JEL no. F14     

Asset price volatility and trading volume with rational beliefs

Summary. This paper develops a model of speculative trading in a large economy with a continuum of investors. In our model the investors are assumed to have diverse beliefs which are rational in the sense of being compatible with observed data. We demonstrate the existence of price amplification effects and show that the equilibrium prices can be higher or lower than the rational expectation equilibrium price. It is also shown that trading volume is positively related to the directions of price changes. Moreover, we study how asset price volatility and trading volume are influenced by belief structures, short selling constraints and the amount of fund available for investment.Received: 23 January 2003, Revised: 30 April 2003, JEL Classification Numbers: D84, G12.We are grateful to Professors Mordecai Kurz, Kenneth Arrow, Kenneth Judd, Carsten Nielsen, Maurizio Motolese, Mark Garmaise, Jean-Michel Grandmont, Peter Hammond, Karl Shell, Jan Werner and participants of the Society for the Advancement of Economic Theory (SAET) Conference and Stanford Institute of Theoretical Economics (SITE) Conference for many helpful suggestions. Correspondence to: H.-M. Wu     

出口退税政策调整对地方外向型经济发展的影响

本文对我国2007年6月19日的出口退税政策调整进行了简要介绍,并就此次调整对地方外向型经济发展的正面、负面影响做了分析。最后,就地方政府和相关企业如何应对此次调整提出了几点建议。