外资银行进入对内资银行绩效影响的文献回顾及实证研究

外资银行进入对内资银行的绩效究竟将会产生怎样的影响?本文通过实证研究的分析方法,阐述了外资银行进入新兴市场经济国家,对东道国内资银行业的绩效影响。得出长期比短期更具有积极影响的结论,并进一步阐述了外资银行进入对我国银行业的影响及实证研究结论对我们的启示。     

最初的萌芽——1840年-1911年中国品牌发展

清末民初西方的重要学科随着留学热潮被引入中国．上海以”海纳百川“之胸怀．孕育着品牌的成长。在这个过程中．公众开始在大众传播的导向下．有意识地进行消费与品牌认知。由于上海华洋共处的城市特征．接触西方商业文化后．市场对低技术产品的需求．使得上海具有形成轻工业品牌的先天优势。“杏花楼“、“双妹“等基于传统背景．结合适应时代的经营理念和宣传方式;”美华利”、”精益”等沿袭西方技术．从技术引入到自主生产。     

Foreign Debt and Domestic Savings in Developing Countries

ABSTRACT

This paper addresses the question of potential causality between foreign debt and domestic savings within the context of developing countries. The literature provides evidence insofar as foreign debt and development is concerned, but little attention has been given so far to internal potential for capital formation. We provide a theoretical framework and test its relevance by using 1975–2004 data for two groups of countries: sub-Saharan Africa and Latin America with the Caribbean. With the use of instrumental variables we find that foreign debt impacts negatively on domestic savings, especially in the long run. The results are not susceptible to the choice of countries or outliers. However, the relationship between foreign debt and savings seems to depend on debt accumulation gaining significance only after surpassing a country's specific threshold.

RESUMEN. Este estudio aborda el tema de la causalidad potencial que existe entre la deuda externa y el ahorro interno en el ámbito de los países en desarrollo. La literatura existente contiene pruebas sobre la deuda externa y el desarrollo pero, hasta el momento, ha dedicado poca atención a todo lo concerniente al potencial doméstico para la formación de capital (capitalización). Hemos trazado un marco teórico y puesto a prueba su relevancia usando datos del período 1975–2004 para dos grupos de países: África subsahariana y Latinoamérica incluyendo El Caribe. Los instrumentos variables utilizados nos permitieron encontrar el impacto negativo que la deuda externa ejerce sobre el ahorro interno, especialmente a largo plazo. Estos resultados no son susceptibles a la selección de países específicos o aislados. No obstante, la relación entre la deuda externa y el ahorro parece depender de la acumulación de la deuda, adquiriendo más significado solo después de pasar el umbral específico de un país.

RESUMO. Este estudo aborda a questão da causalidade possível entre o débito estrangeiro e a poupança interna no contexto dos países em desenvolvimento. A literatura apresenta evidências sobre débito externo e desenvolvimento, mas há pouca informação em relação ao potencial interno para a formação de capital. Mostramos uma estrutura teórica e testamos a sua relevância, utilizando dados de 1975 até 2004 para dois grupos de países: a África Subsaariana e a América Latina com o Caribe. Com a ajuda das variáveis instrumentais, descobrimos um impacto negativo do débito estrangeiro sobre a poupança interna, especialmente a longo prazo. Os resultados não são suscetíveis à escolha de países ou de dados atípicos (outliers). A relação entre débito externo e poupança, entretanto, parece depender do acúmulo do débito, tornando-se importante, apenas no caso de ultrapassar um limiar específico do país.     

内需的扩大是增加还是减少出口？——基于异质企业视角的理论模型和实证研究

中国的贸易失衡表现为巨大的贸易顺差,有一种观点认为扩大内需可以减少出口,降低贸易失衡。本文在考虑企业异质性的基础上,对中国制造企业内需能否促进出口的作用进行了理论和实证分析。理论模型预测,如果企业生产率足够高,可以进行贸易,企业内需的增加总能促进出口数量和出口额的增加,且贸易成本的减小会促进这种效应。我们运用中国工业企业数据对这一推论进行了实证研究。我们首先利用半参数估计的Olley和Pakes(OP)方法估计企业生产率,然后控制企业生产率、企业要素禀赋、行业固定效应、地区固定效应和企业所有制的影响进行计量分析。实证结果发现,出口企业内需的扩大显著促进了企业的出口,而且处于规模经济行业的企业的这种作用更为显著,东部地区企业和国有企业的国内销售对出口的作用也高于其他地区和其他企业。另外,本文对不同出口规模的企业应用分位数回归方法发现,企业出口规模越大,企业内需对出口的作用越显著。     

A decade of hybrid reporting and accountabilities of the Hanyeping Company (1909–1919)

Using a model of hybrid reporting and accountabilities, this article considers the reporting and accountability of the Hanyeping Company in the Beiyang era. The results of the study suggest that the Hanyeping Company attempted to provide comprehensive accounts of its activities to satisfy the needs of a plethora of domestic and foreign stakeholders through a combination of detailed Western and Chinese accounts. In keeping with Western and indigenous Chinese expectations of accounting, the Hanyeping Company prepared accounts that demonstrated characteristics of Auyeung’s demonstrated features of nineteenth-century Westernised reporting and the traditional reporting model. This suggests that the period between 1909 and 1919 experienced a decade of reporting hybridisation in direct contrast to the so-called period of accounting stagnation of the late Qing Dynasty.     

进口贸易视域下国际粮价对国内粮价的传导路径--来自玉米和大豆的证据

基于玉米和大豆等粮食国际、国内价格历史数据,运用协整及误差修正模型、脉冲响应函数等方法,揭示国际粮价对国内粮价的传导作用及影响路径。理论分析表明,国际粮价通过进口直接路径、进口产品成本路径和进口替代路径等三个子路径传导至国内粮价。实证检验发现,国际大豆价格进口直接路径和进口产品成本路径传导均比较充分,即国际大豆价格会影响大豆进口价格,进而影响国内大豆价格,最终影响国内豆油价格;国际玉米价格进口直接路径和进口产品成本路径传导则不充分,国际玉米价格会影响玉米进口价格,但是对国内玉米价格和国内玉米淀粉价格影响程度较低;而在进口替代路径中,玉米和大豆的国际价格传导均不充分。我国应继续推进以提质增效为目标的农业供给侧结构性改革,加大粮食生产科技投入力度,调动农民种粮积极性,集中力量提高粮食供给质量和效率;坚持粮食进口仅为调剂国内供求余缺的方针,把握粮食安全的主动权;建立健全粮食市场的价格调控体系及风险防控体系,规避国际粮食市场剧烈波动对国内粮食市场的影响。     

Does foreign investment benefit the exporting activities of Vietnamese firms?

Using firm-level data, this paper examines the effects of foreign investment on the exporting behaviour of domestic firms in the Vietnamese manufacturing and service sectors. Applying the Heckman selection model on panel data and following the Wooldridge approach, we find that investment by foreign firms has a significant positive effect on the decision of domestic firms in the same and upstream sectors to export. The proportion of exports of domestic firms declines through horizontal and forward linkages, but increases through backward linkages in the manufacturing sector. However, there is only weak evidence in support of export spillovers on domestic firms in the service sector. We also find that the presence of foreign firms has differing effects on the exporting activities of low- versus high-tech firms in the manufacturing sector.     

消费需求与国内旅游消费需求的周期性波动同步吗——基于MS-VAR模型时变特征的分析

系统把握消费需求与国内旅游消费需求的周期运行规律与联动机制,是提升我国消费需求与旅游消费需求的协同增长水平、促进需求结构转型升级的关键。文章基于宏观动态演进视角,构建马尔科夫区制转移向量自回归模型（MS-VAR）,通过变量协整分析、模型拟合、周期阶段划分以及格兰杰因果关系检验等动态计量分析过程探究二者周期联动规律。结果证实,消费需求与国内旅游消费需求的周期波动具有同步性,且这一关系形式实则是消费需求周期波动引发旅游消费需求同步变动的结果。文章认为,二者周期同步变动本质上是经济转型过程中,消费结构根据实际购买力水平和消费倾向,不断变更总体消费规模和服务型消费比重,以实现整体消费与局部支出协同增长的自组织与他组织过程。增强二者协同增长水平和推动消费结构优化转型,则需要产业政策与消费政策的共同调节和适时引导。     

基于渠道权力理论的我国家具业内销网络建设

本文在回顾渠道权力理论相关文献的基础上,深入分析我国家具业内销渠道网络建设受阻的原因,并有针对性地提出了家具业内销网络建设的一般路径。本文的研究将为我国家具企业争取渠道权力、正确处理供销关系进而拓宽内销渠道网络、打开国内市场提供理论依据。希望对正徘徊在国门内外的家具企业有一定的启发,对于其他出口转内销的产业也同样能起到某种程度上的借鉴作用。     

人民币业务全面开放对广东中资银行的挑战

人民币业务全面开放后,广东中资银行将在现有竞争格局、现有市场份额、核心盈利能力、业务结构和盈利模式、从"混业经营"向"综合经营"过渡、金融创新能力、风险管理能力、利用信息技术支撑业务发展、吸引和培养人才机制等方面接受挑战.