Macroeconomic adjustment with managed exchange rates and capital controls: Some lessons from China

This paper examines the performance of capital controls and exchange-rate management when the economy finds itself in dark corners. These are times when the real sector experiences a sequence of prolonged negative shocks from world demand, while the central bank faces low world interest rates on its foreign-exchange reserve holdings. We examine two regimes, one of a fixed exchange rate with strong capital controls and another with a more open capital account with a managed exchange rate. We show how this model replicates recent experiences of China as it moved from a relatively fixed exchange rate regime with strong capital controls to a more flexible exchange rate regime with a more open capital account. Our results show that capital-account liberalization should be accompanied by domestic price liberalization to avoid large losses in foreign exchange reserve and jumps in unemployment during dark corners in the more open regime.     

Between Late-Industrialisation and Globalisation: The Hybridisation of Labour Relations among Leading South Korean Firms

South Korea's (hereinafter Korea) labour relations illuminate the possibilities for the ‘hybridisation’ of non-liberal capitalism under globalisation. Unlike the well-known German and Japanese advanced non-liberal capitalisms, Korea appeared to be far less conducive to ‘hybridisation’. First, inclusive labour practices were not well developed. Second, it had introduced comprehensive economic liberalisation following the financial crash of 1998. Despite these unfavourable conditions, leading Korean firms have tended to maintain or even introduce non-liberal practices than to discard them. The resulting melding of non-liberal and liberal practices (‘hybridisation’) can be traced to three legacies of late-industrialisation: state inclination to intervene during crises; countervailing power of labour at leading enterprises; and the intensity of big business rivalry as a force for the assimilation of inclusive practices. The effects of these legacies in generating mixed practices will be illustrated using firm-level case studies from Korea's two leading export sectors. It will also be argued that Korea's pattern of labour relations hybridity is not conducive to convergence with extant forms of advanced capitalism. Hence Korea is more suitably denoted as a form of <i>late-industrialisation hybrid capitalism</i> whose experience is relevant to other late-developers as they achieve ‘advanced’ status.     

中国对外直接投资的贸易效应研究

随着我国对外直接投资的不断增加,我国对外投资对出口贸易的影响日益明显。本文在回顾已有研究文献基础上,利用我国2。04—2010年省级面板数据,运用GMM系统两步估计方法,检验了我国对外直接投资的出口技术进步效应与出口规模扩张效应;并进一步检验对外直接投资导致出口技术进步是否对出口规模产生中介效应。研究结果发现：当前我国对外直接投资规模扩大与制成品出口技术提升之间存在显著的正相关关系,对外直接投资已成为我国制成品出口技术进步的重要加速器。而对外直接投资并未对出口规模的扩张起到明显作用;在样本期内,对外直接投资通过影响出口技术进步,抑制了粗放型出口规模的扩张。     

城市配送的中日比较研究简

日本城市配送经历各阶段不同的做法,中日在城市配送方面存在差异,中国城市借鉴日本城市配送经验的对策建议：对影响城市配送的软环境要进行改善;鼓励国内建大型的零售连资集团;对影响城市配送的技术性问题寻求解决办法.     

不能把"社会主义初级阶段"混同于"共产主义社会第一阶段"--与方生同志商榷

社会主义初级阶段≠共产主义社会第一阶段,两者是完全不同领域的范畴;马克思所论述的旧社会痕迹≠社会主义初级阶段存在的非公有制经济.     

第二语言学习者产出词汇发展中的语音特征

通过对专业英语学生产出词汇发展中的语音特征调查表明:(1)语音差错项和目的项之间有音相近、形相似的内在的联系;(2)部分语音错误是由于受试者对目的词汇还停留在认知阶段,无法正确地产出;(3)在学习后期,学习者自主地提高了自己的口语要求,在产出过程中出现了连读,导致语音错误增加。     

The Israeli teacher-guide: The emergence and perpetuation of a role

The Israeli teacher-guide performs functions associated with <em>tiyulim</em>—special walks in Israel aimed at the promotion of getting to know one's native country, which are organized by public, non-commercial agencies. The Israeli teacher-guide is socially defined as an agent of education and culture rather than of leisure and entertainment. Most of his role performances are carried out during walks with various groups of casual participants. During these walks he is both the navigator and interpreter of the scenes and their meanings. On the background of the history of tourism in the Holy Land, both the emergence of the Israeli teacher-guide role and the persistence of the public demand for <em>tiyulim</em> and for the organizational and interpretational products of the teacher-guide, associated with <em>tiyulim</em>, are described in this paper. These phenomena are explained by the special peculiarities of the “Israeli condition,” which cause many to seek a sense of belonging to the Israeli land and soil and by the idea prevailing among the Israeli educational elite that <em>tiyulim</em> and the contents delivered during them by the teacher-guides, are appropriate means for arousing this feeling. It is hypothesized that the <em>tiyulim</em> may be looked upon as components of the Israeli civil religion and thus the teacher-guide is a kind of civil religion mentor.     

中美文化模式对礼貌策略的影响——由一则跨文化交际失误的例子说起

礼貌在跨文化交际中起着举足轻重的作用,但其也具有文化差异性。本文通过对一则跨文化交际失误的例子的分析,试图分析中美两种不同的文化模式在几个方面对礼貌起到的影响。     

从“洋垃圾”输入论实现中国垃圾资源化

资源短缺是中国当前面临的一个大问题，中国是一个废品进口大国，废品大多来自日本。随着中日废品贸易如火如荼的发展，一些潜在的问题不断的显露出来。“洋垃圾”危害甚巨，频频退运现象时有发生，严重引发了中国的环境与健康安全问题。本文从中日废品贸易中“洋垃圾”输入引发思考，通过中日日常生活垃圾现状及治理比较，得出：我们应杜绝盲目的输入“洋垃圾”。中国不缺垃圾缺治理。日本是世界上垃圾处理最好的国家之一，中国应借鉴其先进技术与经验，依托分类收集并优化现有处理设施，培养节约生活习惯，保护现有资源，最根本的是提高公众的环境意识。中国应根据自己国情，创造条件，充分利用自己的垃圾，变废为宝，资源内部化，既解决了自身环境问题又避免外来污染。     

A longitudinal study of the interplay of corporate collapse,accounting failure and governance change in Australia: Early 1890s to early 2000s

The “surprise” element of many corporate failures during calamitous periods typically results in criticisms of accountants and auditors and their principles, practices and standards and typically leads to governance reforms including those related to the preparation and audit of corporate financial reports. Set in Australia, this historical study presents the results of an examination of four rounds of heavy and unexpected corporate collapses across a number of sectors which occurred in the early 1890s, early 1960s, late 1980s/early 1990s and the early 2000s. The longitudinal study examines the interplay of corporate collapse, accounting failure and governance change within these periods and seeks to elucidate the continued implication of accounting in corporate scandals despite the governance reforms that were introduced after each calamitous period in order to alleviate or curtail future failures. The study applies an investigatory framework for analysis purposes which draws upon Clarke, 2004, Clarke, 2007 perspective on cycles of crisis and regulation, Jones's (2011a) model of the potential for accounting failure and the scholarly literature on legal conceptions of rule effectiveness.