"特朗普税改政策"的溢出效应及中国的应对策略

特朗普税改使美国成为税收洼地,各国为争夺国际资本竞相效仿降税,加剧了全球税收竞争,为世界经济复苏增加了更多的不确定性.因此,有必要通过构建利润转移视角的税收竞争模型,揭示特朗普税改对全球经济产生溢出效应的作用机制及赤字约束问题,并运用一般均衡模型(CGE)模拟特朗普税改对世界经济溢出效应的长短期影响.特朗普税改是以邻为壑的经济政策,但长期内对中国等世界主要经济体的负面影响不断减弱,并会对出口产生一定的正面影响.因此,我国应构建国际税务交互管理体制,强化企业税收激励的法制保障,完善税改冲击的应急运行机制.     

Foreign investment,corporate governance and performance in the Chinese listed A Share companies

We present a novel lens on the presence and impact of qualified foreign institutional investors (QFII) in top shareholdings of the non-financial domestically listed Chinese ‘A’ share firms. The initial results suggest that the presence of a QFII as a top shareholder in these companies is associated with their better performance, using both Tobin’s Q and ROA as the performance measures. Our models include variables representing corporate governance mechanisms, foreign legal person shares, a proxy for international affiliations and a number of time-variant firm characteristics. Economically, the coefficient of impact on the market measure is the more significant, while the effect of having a QFII in top shareholdings on both performance measures is empirically significant. Previously, studies have often ignored the potential for reverse causality beyond using lagged regressors. This is problematic. Therefore, we follow up with a 2SLS instrumental variables and system GMM model to further mitigate this potential and find the empirical relationship holds. Contrary to earlier work on QFIIs and governance post-implementation of the QFII scheme, the findings from our models suggest that the presence of a QFII top shareholder augments market performance holding equal existing corporate governance mechanisms and other controls.     

Capital Controls,Global Liquidity Traps,and the International Policy Trilemma*

The zero bound on interest rates introduces a new dimension to the trilemma in international policy. The openness of the international financial market might render monetary policy ineffective, even within a system of fully flexible exchange rates, because shocks that lead to a liquidity trap in one country are propagated through financial markets to other countries. However, the effectiveness of monetary policy can be restored by the imposition of capital controls. We derive the optimal response of monetary policy to a global liquidity trap in the presence of capital controls. We show that, even though capital controls might facilitate effective monetary policy, capital controls are not generally desirable in terms of welfare.     

融入全球化的中国：世界生产贸易大逆转及其原因剖析

16世纪以后，以中国为代表的东方文明和西方文明出现分野，东方的科学技术越来越落后子西方，历史称之为“李约瑟之迷”，进入21世纪后，中国正在以前所未有的速度走出这个迷团。2011年，中国制造业产值为2．05万亿美元，而美国制造业为1．78万亿美元，首次超过美国成为全球第一，贸易也是如此，2012年中国货物进出口总额38670亿美元，美国为38628亿美元，也已经超过美国成为世界第一。分析这个大逆转的厚因，一是从体制上解放了了生产力，社会主义市场经济体制是人类社会主义伟大实践的创举；二是对外开放；三是坚定不移地贯彻了科学技术是第一生产力的伟大国策；四是融入了了全球的货币体系。     

2014年武汉市入境游客抽样调查分析报告

为科学准确地反映2014年我国入境旅游业发展的总体状况,国家旅游局统一部署、省旅游局组织实施了＂入境游客花费情况抽样调查＂。本次调查是纳入《旅游统计调查制度》的国家调查项目,问卷按6种语种（即中、英、法、日、韩、俄）印刷,课题组完成了2014年武汉市入境游客抽样调查与分析报告。     

基于就业导向的国际贸易专业英语课堂教学模式探讨

随着改革开放的深入和中国加入WTO,社会越来需要要既具备国贸专业知识,又能运用流利的英语与外界交往的高素质人才。在当前就业形势日趋严峻的情况下,提高国际贸易专业毕业生的专业英语素质,不但能提高其就业竞争力,而且能为我国经济与社会发展提供强有力的人才支持和智力保证。要应对挑战,当前国际贸易专业英语教育改革就应当与市场需求接轨、以就业为导向,并在此基础上提出国际贸易专业英语课堂教学模式的构想。     

Role of food neophilia in food market tourists’ motivational construct: The case of La Boqueria in Barcelona,Spain

In this paper we advocate the study of local food markets to explore fundamental issues about the relationship between these urban tourist attractions and visitors’ motivation and satisfaction. Based on a survey in La Boqueria Market in Barcelona, Spain, we test the direct effect of escape from routine, cultural experience, prestige, and food market involvement on satisfaction, and also the moderator role of food neophilia in this relationship. We conclude that tourists visiting food markets are motivated mainly by cultural experience and interaction with local producers, while food neophilia plays a significant moderator role.     

Archaeological heritage tourism in China: the case of the Daming Palace from the tourists' perspective

Archaeological heritage tourism has been critical in historic cultural revival, archaeological knowledge dissemination, environment upgrading, and local community improvement. Little has been undertaken to evaluate the effectiveness and consequences of archaeological heritage projects in China from the tourist perspective. This study of the Daming Palace Heritage Site in Xi’an illustrates how archaeological and cultural resources have contributed to tourists' experiences. Through investigating an array of approaches that have been applied to advance tourists' understanding of archaeological and cultural resources, the paper proposes that more versatile methods and creative works are to be integrated to develop effective interpretative methods for both education and entertainment purposes. Local government needs to change its top-down approach to a more inclusive one, to establish strong networks among state and non-state stakeholders, and to promote their collective involvement in archaeological heritage tourism. Heritage site packaging strategies and partnerships among heritage resources citywide are advocated. More attention should be given to how to integrate various resources of local communities into heritage tourism. The current organization of government-run archaeological heritage in China calls for more opportunities for archaeologists to contribute actively with their expertise to enhance interpretive programmes and general tourist experience.     

关于建设国际化大都市的若干思考——基于西安的经济和产业发展情况进行分析

本文通过研究国际化大都市的定位和特征,以西安为例探讨如何建设国际化大都市,并进一步分析西安高新区作为要建成世界一流科技产业园区的高新技术产业开发区,如何发挥其示范引领作用。     

Restoring tourist confidence and travel intentions after disasters: some insights from a rejoinder to a series of unfortunate events in Malaysian tourism

Many countries face a decline in tourist confidence and reduced travel intentions after disasters. However, Malaysia – a country that experienced a series of aviation tragedies throughout 2014 – encountered an overall increase in inbound tourists and monetary receipts. This article more closely examines the effects of these unfortunate events on Malaysian tourism and identifies several strategic avenues that can contribute to restoring tourist confidence and reigniting tourist interest in travelling to disaster-stricken countries.