Volatility of capital flows and financial liberalization: Do specific flows respond differently?

This paper examines the volatility of capital flows following the liberalization of financial markets. Utilizing a panel data set of overlapping data, the paper focuses on the response of foreign direct investment, portfolio flows, and other debt flows to financial liberalization. The financial liberalization variable comes from the chronology and index developed by Kaminsky and Schmukler [Kaminsky, G.L. and Schmukler, S.L., 2003, Short-run pain, long-run gain: The effects of financial liberalization, IMF Working Paper WP/03/34.]. Different types of capital flows are found to respond differently to financial liberalization. Surprisingly, portfolio flows appear to show little response to capital liberalization while foreign direct investment flows show significant increases in volatility, particularly for the emerging markets considered.     

Estimating Trade Mis-invoicing from China： 2000-2005

An examination of available data reveals large trade misinvoicing between China and its trade partners. The analysis finds a net trade misinvoicing of US$287.6bn between 2000 and 2005, while the full magnitude of unrecorded trade is estimated at US$1.4tn. China needs to establish more effective management of its international trade flows. At the same time, the international community needs to provide more effective governance mechanisms to address trade misinvoicing.     

加工贸易、FDI与中国国际收支不平衡

自1994年我国实行汇率并轨制度以来,中国国际收支一直面临着经常项目与资本和金融项目双顺差的结构,产生这种结构的原因是多方面的,本文从以加工贸易为主的贸易特征和由于对外资优惠而吸收的大规模外商直接投资(FDI)这两方面入手,分析他们对中国国际收支不平衡产生的影响。     

农村专业合作组织的制度经济学分析——以河北省青县利财蔬菜合作社为例

作为一种新型的组织制度，农村专业合作组织能够克服小规模家庭经营不能有效参与市场竞争、抵御市场风险的弱点。文章利用交易费用理论和制度变迁理论以河北省青县利财蔬菜合作社为例对农村专业合作组织进行分析。     

浅议一般贸易顺差增长及影响因素

近年来，贸易顺差过大和外汇储备增长过快已成为影响我国国际收支平衡的主要矛盾；而一般贸易由逆差转为顺差并呈现较快增长势头，已成为我国贸易顺差的重要组成部分。该文以辽宁为例，在深入调研的基础上，对一般贸易顺差的构成及其影响因素进行了综合分析，并提出了促进一般贸易腱康发展和实现国际收支基本平衡的几点建议，以期对相关政策的调整提供参考。     

Who is Going to Supply the Milk to China＇s South？

China＇s dairy industry has experienced rapid expansion in recent years, with an average annual growth rate of 23.8 percent from 2000 to 2006. However, there exists a serious geographical distribution imbalance in milk production and consumption. Approximately 85 percent of China＇s milk is produced in northern China, where 40 percent of the country＇s population reside. In contrast, only about 15 percent of the milk is produced in China＇s south, where 60percent of China＇s population reside. This has resulted in a significant gap between milk production and consumption in southern China and this gap is expected to rise. This paper considers China＇s milk demand and supply situation, analyzes the likely potential for China to expand its milk production and explores options for meeting milk demand-supply shortages. Policy and trade implications are discussed.     

西部地区现代物流对国际贸易的促进研究

国际贸易与现代物流的发展是互动的，一方面国际贸易是现代物流生存的前提和基础，另一方面现代物流的科学化、合理化又是国际贸易发展的有利保障。西部地区对外贸易的发展滞后于我国其他地区，改变这一现状的措施之一就是在西部地区大力发展现代物流业，由此来带动西部地区对外贸易、区域经济的发展以及产业结构的优化升级。     

国际投资协定中最惠国待遇条款的新发展与中国的应对之策

在经济全球化时代，跨国投资日益成为与跨国贸易相提并重的国际经济支柱之一。对跨国投资的保护也成为当今社会各国间谈判的主要议题。国际投资协定在具体内容上已显现出与传统国际投资协定的很大区别，最惠国待遇条款作为其中的一个核心要素，在具体内容、适用范围以及投资仲裁实践中也出现了一些新的发展，成为国际投资领域经济自由化的一个重要手段，体现了国际投资领域的发展趋势。     

安徽省农业外贸竞争优势的挖潜与培育研究

安徽农业产品出口增长较快,但目前面临着部分农产品出口下降,出口产品层次低、品种结构单一,出口市场较为集中等不利局面;农业产业、产品结构不合理,农民文化素质较低,科技对农业的贡献率低,农业标准化程度低,缺乏大型生产、贸易企业和国际品牌等因素制约了安徽农业的竞争优势     

Analysis of Chinese Cigarette Competition Modes in the Government Monopoly Environment

As a main tax resource, cigarette industry brings about 10% of Chinese annual income. China is by far the largest producer of tobacco products of the world. The nation＇s policy and management mechanism are important elements greatly influencing the competition structure of cigarette industry. Due to the double characters of tobacco, the country generally imposes a high tax and a limited total product output in order to intervene the cigarette market. Therefore, the price signal of cigarette market is distorted and to large extent the competition of the industry is far from a free one, Presently cigarette industry is under the administrative monopoly management in China and meanwhile the cigarette producing is in a multi-element competition style within the nation＇s planning scheme. In other words, administrative monopoly and over-competition exist simultaneously in China＇s cigarette industry. The country predetermines the output quota of each cigarette manufacturing enterprise and the actual production outputs of these enterprises could be adjusted through the quota trades among them. The competition in cigarette industry is mainly represented in 3 modes, i.e. production output competition based on quota trades, value-added competition in producing and selling, and the niche market competition based on product classification.