What has caused China’s economic growth?

Economic growth is driven by numerous factors. However, traditional economic theory focuses on certain key reasons, while ignoring the impact of other factors. Since 1978, China has achieved unprecedented economic growth, but also faces low per capita GDP. To clarify the driving forces behind this situation, we used per capita GDP to represent China’s economic growth and performed total factor analysis based on 13 variables in 7 socioeconomic dimensions using panel data from 30 Chinese provinces over the 40 years since China opened to the west in 1978. We found similar determinants in different regressions. Internal trade, privatization and investment were the primary factors driving Chinese economic development. Surprisingly, we found that the contribution of foreign trade to economic growth (per capita GDP) was weak. Education had a much smaller contribution than science and technology. Using per capita income as the dependent variable to provide a robustness test, we found that China’s income distribution has not paralleled its economic development and the distribution of the benefits of GDP growth to citizens must be improved. China’s experience demonstrates that promoting economic growth requires coordinated development of many factors, and that different policy preferences should be adopted to meet different economic development conditions.     

中小企业数字化转型关键参与主体的行为演化

从设计奖励机制角度,关注服务商的外力帮扶与合作作用,将政府、服务商与中小企业纳入同一框架,分析推动中小企业数字化转型的策略。设置政府对中小企业与服务商分别实施奖励机制、补贴机制和惩罚机制,运用演化博弈方法,将政府、服务商和中小企业作为数字化转型系统的主要参与主体构建三者演化博弈模型,探究政府与服务商参与对中小企业数字化转型的作用机制和影响效果,并利用MATLAB 2018b软件进行仿真,探讨相关参数对各参与方策略选择的作用机制。结果显示：中小企业、服务商和政府受彼此参与意愿的影响程度存在差异,政府参与意愿的提高对服务商和中小企业积极参与数字化转型影响最大;协同收益及政府惩罚的提高正向影响系统演化,政府补贴和奖励因素具有捆绑效应,两个因素同时降低时有利于系统稳定;政府对服务商补贴力度存在30%的阈值,且补贴力度越接近30%越有利于系统达到理想状态。基于研究结论,推动中小企业积极进行数字化转型应进一步提升中小企业数字化能力,政府实行科学的奖补和惩罚机制,包括适当提高对服务商上云服务的补贴力度和完善服务商社会责任评价制度等。     

基于多稳态柔性机构跨尺度微夹钳研究

为了解决传统微夹钳在夹持时存在精度较低、行程较小、不能跨尺度(um-mm)夹持物体的问题,提出了一种基于多稳态柔性机构跨尺度微夹钳结构。将多稳态结构与传统放大机构相结合,微夹钳左侧采用杠杆机构和平行四边形机构,右侧采用三个不同双稳态串联实现八稳态,最后由平行四边形机构保证微夹钳末端输出为单纯平行移动。首先,介绍微夹钳总体结构设计;接着,利用理论计算推导出了放大机构的位移放大比和多稳态特性;最后,运用有限元方法对模型进行分析,证实了微夹钳的性能及其安全性。该微夹钳有效夹持的位移范围大、放大倍率高、结构紧凑、能实现μm-mm的跨尺度平行夹持。     

企业家精神形成的影响因素研究

充分发挥企业家精神对“推动高质量发展”“促进共同富裕”“推进科技自立自强”意义特别重大。研究表明,企业家精神形成的影响因素与社会制度和经济体制密切相关。基于社会制度背景,本文比较了资本主义制度和社会主义制度对企业家精神形成的影响因素,并分析了其形成机制的相同点和不同点。基于经济体制背景,本文比较了国有企业家精神和民营企业家精神的内涵特征,并分析了其形成机制的相同点和不同点。据此,分别提出了培育激活两类企业家精神的政策建议:培育激活民营企业家精神,要营造保护民营企业家合法权益的法治环境、营造促进民营企业家公平竞争的市场环境、营造鼓励民营企业家干事创业的社会环境;培育激活国有企业家精神,要健全国有企业家选拔机制、完善国有企业家激励机制、健全国有企业家容错机制、转变国有资本的监管方式。     

Key drivers of innovation capability in hotels: implications on performance

Innovation capability is critical for the modernization and competitiveness of the hotel industry. This work analyzes the role of hotels' innovative culture, market orientation, and internal marketing as forerunners of innovation capability in hotels, as well as the effect of innovation capability on hotels' performance. The proposed conceptual model is evaluated through structural equation modeling using a sample of 256 Spanish hotels. The results reveal that innovative culture by itself is not a key driver of the hotels' innovation capability. However, internal marketing and market orientation mediate the innovative culture-innovation capability relationship. Innovation capability proves to enhance hotels' market results directly and indirectly through customer equity. Our findings offer hotel managers useful guidance to understand how innovation capability is built within the firm by combining the right organizational culture and practices. Additionally, our study reinforces the financial and non-financial benefits of innovation capability in hotels.     

Dynamic decision and coordination in a low-carbon supply chain considering the retailer's social preference

We establish dynamic game models in a low-carbon supply chain consisting of a single manufacturer and a single retailer with social preference. This study investigates the complex dynamic characteristics of pricing decision and carbon abatement strategy in the supply chain and focuses on the impact of the retailer's social preference on pricing decision, carbon emission abatement strategy, profits, supply chain coordination, and complexity of dynamic models. We find that adjustment parameters of pricing and carbon emission abatement should be maintained in a certain range; otherwise, the system will be unstable and even chaotic through period double bifurcation or wave shape chaos. A higher social preference of the retailer is always beneficial to carbon abatement and the manufacturer and helps maintain the stability of the supply chain system. However, the impact on the long-term profitability of the supply chain is related to the state of the system. Compared with the setting of a centralized decision, the optimal carbon abatement strategy and supply chain profit in a decentralized decision are always less than those in a centralized setting, regardless of whether the retailer has social preference. Therefore, a side-payment self-executing contract is designed to coordinate the supply chain and achieve Pareto improvement. The coordination mechanism proposed in this study not only leads to Pareto improvement but also increases the stability of the supply chain system. Finally, this study enlightens management in operating a low-carbon supply chain.     

The pro-cyclicality of risk weights for credit exposures: Driven by the retail segment

This paper examines the pro-cyclicality of implicit risk weights of credit exposures and the potential contribution of accommodative monetary policy using data for the Czech Republic. The empirical results indicate that risk weights behave pro-cyclically under the IRB approach and acyclically under the STA approach. The pro-cyclical behaviour of IRB risk weights is caused primarily by the retail exposures, the strongest effects being in the highest and lowest quantiles of risk weights. The risk weights for retail exposures behave pro-cyclically not only with regard to the business cycle, but also with respect to the financial cycle and house price growth. In addition, monetary policy easing contributes to the pro-cyclicality in higher quantiles of risk weights.     

宁夏重点研发计划体系改革和运行机制优化研究

应用数据统计分析、文本分析等研究方法,采用实地查看、专家咨询、单独访谈、会议询问等调研方式,结合电话访谈、邮件咨询,对2017—2018年度立项在研的宁夏重点研发计划重大和重点项目运行成效和运行机制开展研究,总结宁夏重点研发计划的运行成效,深入分析重点研发计划的运行中存在的关键问题,并对重点研发计划体系改革和运行机制优化提出了有针对性、可操作性的建议,为进一步推动放管服改革、提升科技计划运行效能、全面落实创新驱动战略提供了方向.     

基于改进BBV模型的原料药产业互联供需网演化机制研究

原料药产业互联供需网是数字经济时代背景下互联网技术与原料药产业深度融合的新模式.针对BBV模型真实刻画原料药产业互联供需网演化过程所存在的局限性,在分析网络结构及演化规律的基础上,取节点强度、资源匹配度和技术创新性作为择优连接指标,构建基于改进BB V模型的原料药产业互联供需网演化模型.通过模拟网络动态演化过程,得出如下结论:原料药产业互联供需网的度分布近似符合幂律分布,具有小世界特征,模型相关参数对度分布有一定影响.该研究工作为原料药上下游企业真实构建产业互联供需网提供了理论依据,对现实中保护关键企业节点、稳定供需关系、防范突发失效风险、探测风险传播路径有一定的参考价值.     

Systemic financial risk early warning of financial market in China using Attention-LSTM model

We propose an Attention-LSTM neural network model to study the systemic risk early warning of China. Based on text mining, the network public opinion index is constructed and used as a training set to be incorporated into the early warning model to test the early warning effect. The results show that: (i) the network public opinion is the non-linear Granger causality of systemic risk. (ii) The Attention-LSTM neural network has strong generalization ability. Early warning effects have been significantly improved. (iii) Compared with the BP neural network model, the SVR model and the ARIMA model, the LSTM neural network early warning model has a higher accuracy rate, and its average prediction accuracy for systemic risk indicators has been improved over short, medium and long terms. When the attention mechanism is included in the LSTM, the Attention-LSTM neural network model is even more accurate in all the cases.