我国家电业研发国际化分析

我国已成为家电制造的世界基地,但由于核心技术的缺乏,我国家电业的国际化进程并不顺利。我国家电业要想真正走出国门,仅仅有大量的产品出口是不够的,必须有相应的全球研发体系来打造国际化的企业。因此,研发国际化是我国家电制造企业提升技术实力,进行国际化的突破点。     

跨国公司国际研发的新趋势与发展中国家的对策

跨国公司作为全球经济的发动机，依然是国际研发的主体。但是，随着经济全球化的不断深入发展，跨国公司的国际研发也出现了新的发展趋势，跨国公司在发展中国家的研发投入日益增加，给发展中国家带来了机遇和挑战。本文认为，发展中国家在积极吸引跨国公司研发投资的同时，应该趋利避害，发展本国的经济。     

Innovation, international technological diffusion and the changing influence of R&D on productivity

This paper analyses the relationship between OECD countries'business sector total factor productivity and domestic and foreignR&D efforts during the period 1961-1991. A sensitivity analysisis performed by making use of alternate estimations of specificationsin growth terms and in level terms. The results are shown tobe robust. They show that the influence of international technologicaldiffusion is, on average, substantially stronger than that ofdomestic R&D. In the case of the large economies, however,the latter influence is found to be more important. A structuralstability analysis provides evidence of a decrease in the estimatesin the mid-1970s, without significant recovery afterwards. Variouslong-run supply effects appear to have contributed. The discontinuousnature of the reduction does indicate, however, that these werereinforced by macroeconomic disturbances at the demand side.     

Quasiconcavity and the kernel of a separable utility

Summary. In this paper I prove that a quasiconcave separable utility function defined on an atomless space is concave. Received: August 11, 1997; revised version: October 2, 1997     

Decentralized computation procurement and computational robustness in a smart market

Summary. Several `smart market' mechanisms have recently appeared in the literature. These mechanisms combine a computer network that collects bids from agents with a central computer that selects a schedule of bids to fill based upon maximization of revenue or trading surplus. Potential problems exist when this optimization involves combinatorial difficulty sufficient to overwhelm the central computer. This paper explores the use of a computation procuring clock auction to induce human agents to approximate the solutions to discrete constrained optimization problems. Economic and computational properties of the auction are studied through a series of laboratory experiments. The experiments are designed around a potential application of the auction as a secondary institution that approximates the solution to difficult computational problems that occur within the primary `smart market', and show that the auction is effective and robust in eliciting and processing suggestions for improved schedules. Received: November 5, 1996; revised version: September 30, 1997     

A Note on the (Un)Pleasant Arithmetic of Fiscal Policy: The Case of Italian Public Debt

Using the simple arithmetic of government budget constraint, we perform an illustrative analysis on the Italian case, investigating the consequences on the main public finance aggregates of the adoption of a fiscal policy rule responding to past real debt/GDP ratio. Such a rule, firmly grounded in the economic analysis, would allow the reduction of Italy's outstanding stock of debt without requiring the strict adherence to the 3 per cent criterion for deficit/GDP ratio, as prescribed by SGP (Stability and Growth Pact). We perform a forecasting exercise under five alternative scenarios and analyse the details of a structural debt reduction strategy with alternative yearly step.     

Trading with a common agent under complete information: A characterization of Nash equilibria

We analyze an abstract model of trading where N principals submit quantity-payment schedules that describe the contracts they offer to an agent, and the agent then chooses how much to trade with every principal. This represents a special class of common agency games with complete information. We study all the subgame perfect Nash equilibria of these games, not only truthful ones, providing a complete characterization of equilibrium payoffs. In particular, we show that the equilibrium that is Pareto-dominant for the principals is not truthful when there are more than two of them. We also provide a partial characterization of equilibrium strategies.     

Finite additive utility representations for preferences over menus

I characterize a finite additive utility representation for preferences over menus. The numbers of both positive and negative components in this representation are expressed explicitly in terms of preference. These expressions can be used to characterize models of temptation, perfectionism, context effects, and other phenomena.     

Financial liberalization,private investment and portfolio choice: Financialization of real sectors in emerging markets

Using firm level panel data, we analyze the impacts of rates of return gap between financial and fixed investments under uncertainty on real investment performance in three emerging markets, Argentina, Mexico and Turkey. Employing a portfolio choice model to explain the low fixed investment rates in developing countries during the 1990s, we suggest that rather than investing in irreversible long-term fixed investments, firms may choose to invest in reversible short-term financial investments depending on respective rates of returns and the overall uncertainty in the economy. The empirical results show that increasing rates of return gap and uncertainty have an economically and statistically significant fixed investment reducing effect while the opposite is true with respect to financial investments.     

Heterogeneous Risk Preferences,Discount Rates and Land Contract Choice in Ethiopia

This paper analyses the role of risk and rate of time preference in the choice of land contracts. The analysis builds on the risk‐sharing and imperfect market explanations of contract choice. Unique data from Ethiopia, which contain land contract information and experimental risk and rate of time preference measures on matched landlord–tenant partners, are employed in the empirical analysis. The results show that landlord and tenant time preferences are significant determinants of contract choice. For landlords (but not tenants), risk preference is also significant, indicating the importance of financial constraints and production risk in the determination of contract choice. The results are of particular relevance to land market policy in Ethiopia, where production is risk‐prone, financial markets are imperfect, and where there is a major need for the development of vibrant land rental markets.