Financial crisis in Southeast Asia: dispelling illusion the Minskyan way

This paper extends Minsky's financial instability hypothesisto the case of the open, ‘liberalised’, economy,making it possible to put forward a specifically Minskyan accountof the road to the financial crisis in Southeast Asia (1997/1998).The analysis suggests that the threats to growth and employmentemanating from the financial sector which Minsky identifiedin the closed economy setting are much intensified in open,liberalised, developing economies. Financial liberalisationis an important key factor in this process. Rival explanationsof the crisis are examined and rejected in favour of the extendedMinskyan explanation. The policy implications are derived anddiscussed.     

中日传统文化对政治现代化的影响

对任何国家来讲,政治现代化既是现代化运动的一个重要方面,也是现代化运动的一个重要支撑,而传统文化对政治现代化有着不可低估的影响。传统文化是民族历史的结晶,蕴涵了本民族思维方式、价值观念、行为准则等因素,一方面具有强烈的历史性、遗传性,另一方面又具有鲜活的现实性、变异性。因此,传统文化为政治现代化提供历史的根据和现实的基础。本文将就中日两国不同的传统文化对各自政治现代化的影响进行浅析,以求对中国政治现代化道路做有益的探索。     

生态经济理论的发展与政治经济学的创新

长期以来,我国社会主义政治经济学由于忽视研究生态经济问题,使之缺乏创新与发展。现在生态经济学得到了迅速的发展,政治经济学必须研究生态经济问题,必须吸收生态经济理论,真正成为社会主义现代化建设的坚实的理论基础。     

Global sourcing strategy and sustainable competitive advantage

Global sourcing strategy has been one of the most hotly debated management trends in the last 20 years. In its early years, global sourcing was examined mostly from “in-house” development and procurement perspectives; and in the last several years, research focus has shifted to “outsourcing” activities. Along with this shift from internal to external focus on global sourcing, many researchers and business practitioners have applied a core competency argument to justify increased levels of outsourcing activities on a global basis. Although the beneficial aspects of outsourcing are assumed in most cases, no consensus exists in reality as to the effect of outsourcing. Furthermore, the increased instability of the exchange rate environment in the last several years has also led to increased difficulties in managing globally scattered operations that were once fashionable in the 1980s-90s under the rubric of global strategy. In this article, the authors explore potential limitations and negative consequences of outsourcing strategy on a global scale.     

WTO financial services commitments: Determinants and impact on financial stability

The paper investigates the factors that have influenced WTO members to take on their chosen level of liberalization commitments in the framework of liberalization of trade in financial services and the impact of such commitments on financial sector stability. The most important factors are economic growth, current account, trends in banking sector development, policy restrictiveness, and peer-group effects. The econometric evidence suggests that more liberal commitments may be associated with greater vulnerability to currency and banking crises—most likely a short-term effect, which should be mitigated with time through increased market efficiency and better resource allocation.     

合资企业不稳定性研究的综述

本文对现有合资企业不稳定性研究文献进行了系统分析、归纳。综合分析了引起合资企业不稳定性的几种因素的结论,即合资企业所在国的经济政治体制背景、合资企业成员资产的相互依赖和竞争性、合资企业的文化冲突、合资企业的组织结构、合资企业的效益等等。根据现有的研究结论,本文提出了我国如何正确对待和利用合资企业不稳定性、调整利用外资战略的建议。     

西方公务员制度“政治中立”原则的内涵剖析

传统西方公务员制度产生于立法权与行政权合二为一的"政党分赃制"时代背景下,其旨在强化行政权,使行政权从立法权中分离出来,脱离政党的控制,这决定了其必然坚持"政治中立"原则。现代西方公务员制度处于行政权一权独大的时代背景下,这决定了必须采取措施重新实现立法权对行政权的有效制衡,表现为淡化公务员"政治中立"原则,加强行政系统对立法系统的"政治回应性"。西方公务员制度在"政治中立"问题上的历史演变本质上是"分权制衡"的政治体制在不同时代背景下有效运作的必然结果。     

Reassessing the risk conditions for political instability in the light of the Arab Spring

In today’s globalized world, multinational firms contend with a diverse set of risk factors in their worldwide operations. The recent regime changes in northern African countries, also called the Arab Spring, have highlighted that political instability is one of these factors. As researchers and existing indices of political instability largely failed to predict those developments, firms had not incorporated them into their risk calculations and hence incurred losses while having to adapt their operations. This paper examines the conditions that contributed to the recent instability in North Africa using Tunisia and Egypt as case studies. It evaluates the extent to which existing measures of political instability incorporate those conditions. The analysis reveals that the main conditions contributing to the political turmoil can be seen in socio-economic factors, namely inequality, poverty, youth unemployment, a growing youth population, and especially in the case of Egypt an independent military. These findings reveal gaps in current measures of political instability, whose dominant focus is on factors describing violence and changes in the political system while neglecting the influence of a country’s socio-economic environment.     

美国金融危机与金融监管改革——基于新政治经济学的视角

金融监管的新政治经济学强调,作为一国政治制度行为主体的利益集团和政党在政策选择上具有十分重要的作用。本文分析了美国金融利益集团与左右翼政党的政策偏好对美国金融监管失灵与金融监管改革的影响。     

“开国大典”仪式的政治功能与历史启示

“开国大典”宣告了中华人民共和国的成立,当天三十余万军民参加了庆祝仪式。这样的一场规模盛大的国家庆典产生了巨大的政治影响。本文首先对“开国大典”的仪式过程进行了全景扫描,然后分析了“开国大典”仪式的政治功能,最后得出了举行“开国大典”仪式的的历史启示。