Foreign direct investment and inequality: Evidence from China's policy change

In this paper, we examine the impact of foreign direct investment (FDI) on local urban inequality in China. Specifically, we consider the FDI policy change as an exogenous shock on the local labour markets. We find that cities that have experienced a bigger policy change in promoting FDI between 1997 and 2002 are significantly more unequal in 2005. This pattern is mainly driven by the positive association between FDI liberalisation and skill premia. The result holds after we control for other policy changes, such as privatisation of state-owned enterprises, infrastructure and trade liberalisation. We then turn to investigate the mechanisms using firm and individual-level information. Our firm-level evidence shows that FDI firms not only hire relatively more high-skilled workers but also provide relatively higher wages to high-skilled workers compared to domestic firms. Moreover, the individual-level analysis shows that FDI has a significantly positive spillover effect on wages received by skilled workers employed by state-owned enterprises, but not wages of unskilled workers.     

政工思想教育结合人力资源管理在企业中的应用分析

当前,人力资源是企业发展中重要的影响因素,也是企业竞争力提升的关键,但是受社会上多元化思潮的影响导致企业员工的思想被剧烈冲击,使企业人力资源管理工作的难度加大。因此,需要将人力资源管理工作与政工思想教育结合,通过政工思想教育对企业员工的职业道德、思想等进行强化,增强企业人员的责任意识以及企业内部的凝聚力。论文主要对政工思想教育结合人力资源管理工作的可行性进行分析,并对二者结合的现状进行总结,最后提出相应的结合对策。     

Anticipating independence,no premonition of partition. The lessons of bank branch expansion on the Indian subcontinent, 1939 to 1946

We examine investment in bank branches on the Indian subcontinent in 1939 and 1946. In 1947, the states of India and Pakistan were created from the erstwhile colony of British India. Partition was destabilizing to both economies. We use branch expansion as a proxy for entrepreneur's pre‐partition predictions of the future of these regions. Our results indicate there were no premonitions of economic dislocation. Banks tended to deepen their presence in regions which were already developed. But controlling for the level of 1931 development, branch placement was highest in exactly those regions, Bengal and the Punjab, which were to experience the greatest negative consequences from political division. After 1947, multiple banks failed; most failing banks were registered in the Punjab or Bengal region. In United India, businessmen saw as much promise in regions which were to become Pakistan as in regions which were to become India. After partition, the Pakistan regions were immediately more economically fragile. This event provides a general lesson. Economic integration had intensified over the years of British rule. The abrupt stop to integration harmed especially the smaller, less diversified region. Politicians should be wary of politically dividing regions which have evolved to function as integrated economic units.     

Moving markets? Government bond investors and microeconomic policy changes

Do sovereign bond markets react systematically to microeconomic policy reforms? Some observers suggest that investors are very attentive to supply‐side policies such as those related to labor markets, corporate taxation, and product standards. They argue that, along with macroeconomic outcomes and broad financial market conditions, such reforms affect sovereign bond premiums, for developed as well as emerging economies. In contrast, we predict few systematic effects of supply‐side policy reforms on sovereign bond market outcomes. Our theory draws on a standard three‐equation model of the economy, widely accepted among economic and finance professionals. That model makes few clear predictions regarding the anticipated effects of microeconomic policy changes; as a result, we expect that such reforms will not generate systematic market reactions. Our analyses, based on daily data from 37 countries from 2004 to 2012, indeed reveal little evidence of a systematic bond market reaction to the 47 most significant reforms to corporate taxation and labor market regulation. These results call into question the notion that “bond market vigilantes” play a central role in compelling governments to enact specific microeconomic policy changes.     

The Competitive Advantage of Collaboration – Throwing New Light on The Nordic Model

ABSTRACT

In one of the most influential contributions to modern political economy, Hall and Soskice have launched a distinction between ‘liberal’ and ‘coordinated’ market economies, placing the Nordic countries firmly in the latter category. We argue that, while the H&S distinction may serve classificatory purposes, seeing the Nordic model in terms of ‘coordinated capitalism’ blurs the distinctive features of the Nordic countries’ success as productive and fair economies. We contend that the central formula behind this success lies in what we call the Nordic model’s ambidexterity – the capacity to combine collaborative and competitive elements and skilfully navigate between them. Using an interdisciplinary perspective (inspired by organisation theory, cultural semiotics and evolutionary analysis), we provide a conceptual basis for reinterpreting the Nordic Model as an ambidextrous combination of culturally rooted, collaborative strategies that are subsequently competitively exposed. The article illustrates the workings of this ambidexterity in three societal domains: work life (including female participation), resource management – illustrated by the Norwegian petro-economy – and international business management and regulation with a focus on CSR. In each case we will show how collaboration is intertwined with pragmatic competitive exposure, yielding high productivity, high welfare, as well as fair income and wealth distribution.     

Does local political support influence financial markets? A study on the impact of job approval ratings of political representatives on local stock returns

Using data on job approval ratings of governors, U.S. senators, and the president, we find that firms located in states with high approval ratings outperform firms located in states with low approval ratings by .64% per month. Furthermore, this relationship is stronger when investors are actively involved in politics, when local politicians are closer to the center of political power, for small firms that have a larger proportion of local investors, and for financially strong areas where investors are ready to execute investments in local stocks. Overall, our study shows that investors’ political sentiment is important in determining stock returns.     

高职思政课教学现状调查及改进策略分析

通过对北京地区高职思政课教学状况的调查发现，思政课教学质量及教学效果与预期有一定差距。根据高职教育与普通本科教育在培养目标、学生基础等方面的差异性，编写高水平的高职思政教材，完整配备责任能力强和专业水平高的师资队伍，提高课堂教学水平，是改进高职思政课教学的有效策略。     

陈云在财经领域中的思想政治教育思想述论

陈云是我国社会主义经济建设的开创者和奠基人之一。陈云在经济领域中的杰出贡献,也与他高度重视思想政治工作是分不开的。陈云在财经领域中的思想政治教育思想主要表现在:经济建设中的勤俭节约,艰苦奋斗;克服经济工作中的事务主义倾向;整顿财经工作作风,严肃财经纪律;尊重经济客观规律,按照规律办事。在全面深化改革、扩大开放、一心一意谋发展、聚精会神搞建设的当下,重温陈云在财经领域中的思想政治教育思想具有重大意义。     

网络政治文化发展的困境与对策研究

随着网络信息技术的发展，我国逐渐形成了一种全新的政治参与文化形态，即网络政治文化。网民政治素养水平参差不齐、政府电子政务建设水平不高、网络法律与道德体系不健全、网络中各种政治文化冲突日益加剧等原因影响着网络政治文化的形成与发展。我们应该坚持以社会主义核心价值观引导网络政治文化的方向、全面提高网民的政治素养使其自觉规范网络言行、加强网络信息监管营造网络政治文化良好氛围等，从而构建先进的网络政治文化。