市场经济下政府与市场的关系

在市场经济中，市场必须在资源配置中发挥基础性或决定性的作用，但政府在市场失灵的地方又必须积极地发挥作用。本文分别从早期市场经济中政府的作用、现代市场经济中政府的作用等五个方面对这一问题进行论述。     

基于债务协商视角的债转股定量研究

针对我国政府、企业和银行等金融机构共同关注的债转股问题，基于债务协商谈判思想，建立部分债务股权互换模型，计算公司证券价格，探讨了债转股对公司价值、破产概率、破产损失成本和资本结构的影响，给出了银行等债权人愿意债转股的充分条件。结果表明：在事先破产清算协议贷款下，事后全部债转股总能提高公司股权价值，但并不一定能提高债券价值。只有其协商谈判能力满足一定条件，公司债权人才愿意事后选择债转股，实现帕累托改进、提高社会福利水平。其次，在公司股东协商谈判能力的一定范围内，部分债转股能提高公司价值，其最优转股债息比例随着公司资产风险的增大而增加。再次，债转股能降低公司破产风险和破产损失成本，但同时也提高了债券风险溢价。最后，随着股东谈判能力增强，最优协商转股债务比例、杠杆率都减少，而债券风险溢价增大。本文所得结果对我国政府、企业和银行如何实施债转股提供理论参考和实践指导。     

How do countries choose their monetary policy frameworks?

This paper investigates the determinants of countries’ choices of monetary policy framework. A brief narrative focused on groupings of countries motivates an econometric analysis which draws on previous work on the determinants of exchange rate regimes, bringing in standard factors as well as the trade networks of potential anchor currency blocs and the financial market depth that are emphasised in the narrative. The model turns out to be able to predict three quarters of countries’ choices, and there is no obvious systematic pattern in the errors. The results have important implications for how countries should choose their monetary policy frameworks.     

The context of employment discrimination: interpreting the findings of a field experiment

Although field experiments have documented the contemporary relevance of discrimination in employment, theories developed to explain the dynamics of differential treatment cannot account for differences across organizational and institutional contexts. In this article, I address this shortcoming by presenting the main empirical findings from a multi‐method research project, in which a field experiment of ethnic discrimination in the Norwegian labour market was complemented with forty‐two in‐depth interviews with employers who were observed in the first stage of the study. While the experimental data support earlier findings in documenting that ethnic discrimination indeed takes place, the qualitative material suggests that theorizing in the field experiment literature have been too concerned with individual and intra‐psychic explanations. Discriminatory outcomes in employment processes seems to be more dependent on contextual factors such as the number of applications received, whether requirements are specified, and the degree to which recruitment procedures are formalized. I argue that different contexts of employment provide different opportunity structures for discrimination, a finding with important theoretical and methodological implications.     

Land markets and migration trends in Tanzania: A qualitative‐quantitative analysis

While migration has been found to enhance welfare across a range of settings, most of the literature focuses on rural‐to‐urban migrant flows. Using a unique dataset from north‐western Tanzania, this article probes an important, yet overlooked, link between land markets and rural‐to‐rural migration. A mixed‐methods approach is used to discern how these two forces are intertwined in village life. Results indicate that household decisions to migrate are particularly influenced by the ease of market‐based land access in their new communities. This suggests that labour mobility may be facilitated through the development of a well‐functioning land market.     

How does distance affect market entry mode choice? Evidence from French companies

The objective of this article is to examine the relevant dimensions of distance for foreign market entry mode choice. Based on a sample of 203 interfirm linkages formed by French multinationals with partners across the world, we analyze the impact of four dimensions of distance on the choice between cooperative alliances and mergers-acquisitions. The findings indicate that administrative and economic distance have a significant influence on market entry mode choice, whereas the impact of cultural and geographic distance is not significant. They further highlight the important role of the host country's government effectiveness for market entry mode decisions.     

市场分割、政企关系与异地市场拓展

中国的市场仍旧存在某种程度的分割，如何突破这种市场分割到异地拓展市场是企业要考虑的现实问题。以前的研究主要是从省级层面或国家层面进行宏观分析。文章创新地从政企关系视角入手来考察市场分割情形下微观层面的企业异地市场拓展，也是首先把市场分割（和异地市场）分为省内（本市外）市场、省外市场和海外市场三个不同层面来研究的论文。用世界银行的调查数据从微观企业个体层面检验了企业异地市场拓展的可能。实证研究结果发现，市场分割确实阻碍了企业异地市场拓展，但这仅限于省内市场而不是省外市场。此外，市场分割是有方向性的，从地方保护主义严重的市场里走出来的企业更容易拓展异地市场，但此结论仅适用于国内市场拓展而不适用于海外市场拓展。良好的政企关系是有利于企业异地市场拓展的，但仅限于省外市场，对省内市场以及海外市场是无效的。文章解释了其中的原因，并分析了对于企业实践的启示。     

经济全球化与证券市场监管研究

证券市场开放是一国融入全球化世界经济体系的必然结果,通过分析WTO条件下对成员国证券市场开放的基本要求,指出了入世后证券市场监管将面临的严峻挑战,并提出了一些今后证券市场监管的新思路。     

对开拓中医药成人高等教育潜在市场的思考

我国的成人高等教育 ,在实现从计划经济到市场经济转变后 ,出现了前所未有的竞争场面。作为行业性很强的中医药成人高等教育 ,要想生存和进一步发展 ,必须在积极参加市场竞争的同时 ,根据自身的优势和特点 ,从社会发展的高度 ,大力开拓潜在市场 ,努力寻找中医药成人高等教育的发展空间     

近代中国农业现代化滞后原因初探

在近现代经济结构的现代化转型过程中 ,农业较之工业显得缓慢和滞后。这其中固然有中国固有的农业基础薄弱、战争破坏以及世界经济危机等多种因素的影响 ,但本文力求抛开这些表面上的因素 ,试从政府决策、市场结构、农业传统文化这三方面对近代中国农业现代化滞后原因加以探求。