美国金融危机对我国股市的传染渠道及效应——基于VAR模型和BEKK模型的检验

采用VAR和BEKK模型研究了美国金融危机前后美国股票市场、货币市场、汇率市场与我国股市收益率之间的均值及波动溢出效应,并通过对比危机前后溢出效应的变化,分析了其是否对我国股市产生了传染效应。研究发现,通过美国股市、货币市场和汇率市场,金融危机对我国股市收益率均值水平的传染效应显著,仅通过美国货币市场金融危机对我国股市波动性的传染效应显著。     

国际大商都:广州建设国家中心城市的战略选择

作为一个国家中心城市,其主导产业必须是这个城市的优势产业,聚集和辐射的能力强,产业关联度好,有深厚的文化底蕴且发展潜力大。综合分析表明,"国际大商都"应是广州建设国家中心城市的突破口和战略选择,它体现在国际采购中心、国际物流中心、国际会展中心、国际购物与消费天堂等九个方面。广州须站在战略高度来大手笔谋划国际大商都的未来发展。     

金融危机后中国烟草行业国际竞争力的实证研究

利用联合国商品贸易统计数据库数据,使用比较常用的TC指数、RCA指数等指标对金融危机前后中国烟草行业国际竞争力进行了实证分析。研究结果表明:中国烟草行业在资源密集型产品、低附加值的加工装配型产品等领域具有比较强的国际竞争力;在高附加值、高技术含量的高端烟制品等领域国际竞争力还比较弱,而且在这些领域,中国烟草产品国际竞争力提升较缓慢。据此,提出了提升我国烟草行业国际竞争力的若干政策建议。     

旅游产业集群成长阶段及持续成长驱动力分析——以杭州国际旅游综合体为例

论文把旅游产业集群成长阶段分为孕育阶段、快速成长阶段、逐步成熟阶段及稳定阶段。论文以杭州国际旅游综合体为例,对旅游产业集群持续成长驱动力进行了分析,认为：旅游要素比较优势为旅游产业集群持续成长的基础驱动力;强劲的旅游投资是旅游产业集群持续成长的保障性驱动力;完善集群网络是旅游产业集群持续成长的关键驱动力;集群创新是旅游产业集群持续发展的核心驱动力;强有力的旅游产业集群基核吸引力促进旅游产业集群持续成长;旅游者的消费需求偏好是杭州国际旅游综合体持续成长的需求驱动力。     

Consumption Inequality in China: Theory and Evidence from the China Health and Nutrition Survey

We investigate consumption inequality in China both theoretically by constructing a theoretical model that delineates the transmission channels by which income shocks affect consumption and empirically through an Unequally Spaced Dynamic Panel Data model estimation. We find that China is experiencing consumption inequality with the full partial insurance of consumption against both permanent and transitory income shocks, although the impact of both types of shock are larger than the case of the United States. The results are due to precautionary savings motives of the Chinese. We further document how income becomes more dispersed in China and show how the family background of a child affects his outcome to a large extent. Policy implications based on our findings are proposed.     

高油价时代的中国石油安全

国际石油价格的高企给我国石油安全带来巨大影响,为了应对高油价的挑战,要充分发挥能源消费大国之间的对话和合作,谋求我国在国际石油定价的话语权;要建立资源节约型的经济结构,减少对石油资源的依赖;要加强自主运输能力,保障运输通道安全。     

关于打造中国国际金融中心的评析与思考

本文讨论了国际金融中心成立的条件,考察了伦敦、纽约、香港、东京成为国际金融中心的历程,分析了中国城市一香港、上海、北京建设国际金融中心的机遇和挑战,并从战略的高度,讨论、评析了中国建设国际金融中心的相关问题。     

国际商品价格波动与中国出口贸易的能源成本:一个实证分析

中国的出口贸易面临着国际市场能源价格快速上涨与工业品价格滞涨的双重压力。本文对2002—2007年中国出口商品所包含的能源成本进行的估算发现,以2002年不变价计算的能源成本在5年间增长了7.53倍。与此对应,能源成本在中国出口总额中所占的比例从2002年的8.4%上升到了2007年的21.2%。通过计算价格弹性发现,国际市场上能源相对价格的波动是引起我国能源成本率上升的主要因素。能源成本快速上升大大降低了我国出口商品的利润空间,表明我国的外贸质量在下降,这主要是由国际市场进出口价格体系以及我国出口商品结构不合理所造成的。     

Would a North-South Free Trade Agreement Hurt Unskilled Labor in the North?

I present a simple model to examine the impact of international outsourcing on the welfare of skilled and unskilled labor. In this model, specialized business services are to facilitate manufacturing production, creating additional welfare gains in the presence of positive production externalities. Policies that favor the business service sector contribute to the development of a larger bundle of specialized business services, generating more welfare gains to not only skilled but also unskilled labor. Thus, a country’s unskilled labor is not necessarily worse off with open trade if the country is prosperous in business service provisions.     

International law as a negotiation tool in Banking Union; the case of the Single Resolution Fund

EU’s response to the recent Euro-crisis has involved a mixture of EU and international law, with the latter being linked to all the arrangements that may have fiscal implications for national Member States. The SRF embodies all the controversial characteristics of Banking Union. This article illustrates the legal implications that this political choice creates, and how the interrelation between the SRM, the SRF and the ESM, allows leading economies, including Germany, to control the resolution framework both before and after crisis. This raises questions as to the direction that European Integration is taking and its highly nationalised character.