Mobile Marketplaces—Consequences of the Changing Governance of European Stock Exchanges

ABSTRACT Deregulation and increasing cross‐border competition in the financial industry are affecting not only firms but also those organisations that provide markets, i.e., stock exchanges. The process of changing governance structures is exemplified in this paper by the case of Deutsche Börse AG, the Frankfurt‐based main German stock exchange. The paper focuses on the reasons for relocations of national stock exchanges, and possible consequences for local firms. Secondary trading is based mainly on the exchange of (price) information, so traders were able to move away from the Frankfurt floor quite easily. However, many of them gathered together in London because of the knowledge‐intensive communications between them, e.g., interpretations of rumours, market mood, etc. On the other hand, the primary markets—firms issuing new shares—are also based on the exchange of tacit knowledge. With two spatially separated groups of users, traders in London in the secondary markets and firms in Germany in the primary market, Deutsche Börse faces a “user‐producer interface dilemma.” Thus, a possible relocation of executive functions to London combined with the complex interplay between information and knowledge exchange in financial markets could have negative consequences for the financing conditions of local firms.     

中国与肯尼亚农业科技交流合作研究及启示

从1963年至今,中国与肯尼亚农业科技交流合作经历了从单向无偿援助向互利合作方式的转变,并通过政府高层往来、中非农业合作论坛、农业投资及研讨会、互派专家和留学生、高校与科研机构支持等途径,以农业科技合作示范与种质资源利用、中国农业高新科技在肯尼亚推广应用、短期技术研修与培训班开设、学历农业人才培养等内容方式,在中国优良农作物引种推广、栽培管理技术体系输出、科学合作研究、农业科技人才培养、生物多样性保护、扩大农产品市场等方面取得了不少成就,但仍然面临前期调研不够、途径内容不多、成效比较有限、投资不足等挑战以及语言、文化和历史等问题,需要从制定长期规划、建立高层次协调机制、加强基础调查研究、拓展途径与内容、加大投资力度、完善财税政支持体系、继续重视人才培养、坚持绿色合作与可持续发展等方面综合应对。     

药用植物太空育种研究进展

药用植物的品质决定中药产品的质量和疗效,而药用植物育种是提高中药材产量和质量的关键。太空育种作为一种新的育种技术近年来在药用植物研究领域得到重点发展。在查阅相关文献的基础上,归纳了近年来药用植物太空育种在生物性状、细胞学、有效成分变化、分子标记、安全性等不同方向的研究进展和基本结论,总结了国内外在该领域取得的工作成果,分析了药用植物太空育种的特殊性及其研究存在的问题。认为将太空育种用于药用植物新品种的选育,可加快药材品种选育进程,提高育种质量。目前在药用植物空间生物学、后代性状遗传稳定性和有效成分变化规律等方面研究欠缺,建议加强药用植物太空育种基础理论研究投入,明晰诱变因素和诱变机制,进一步提高育种预见性和育种效率;建立具有药用植物特点的综合评价系统和新品种审定体系;针对药用植物太空育种的安全性和空间环境处理后有效成分种类和含量变化问题开展风险评价研究。     

Space of Flows,Uneven Regional Development,and the Geography of Financial Services in Ireland

ABSTRACT This paper is concerned with the geography of finance in the globalising knowledge‐based economy, characterised by the proliferation of information and communication technology. More specifically, the paper aims to examine the “locational structure” of financial services in such an economy and its implications for uneven regional development in Europe. In doing so, the paper engages with the concept of “space of flows” and several other theoretical approaches concerned with the geography of advanced producer services and finance. It argues that while such approaches provide a useful starting point, they need be developed further in order to inform an understanding of both the nature and the dynamics of the “locational structure” of financial services and its implications for regional economic development. This point is illustrated in the case of Ireland, focusing on “domestic” banking institutions and “international” financial services operating there. The paper concludes that while “space of flows” provides a useful metaphor for approaching the geography of financial services and other knowledge intensive business services, the conceptual and analytical emphasis should shift towards the “flows of value” that ultimately impinge upon the fortunes of cities and regions.     

Empirical Analysis of Linkages Between Stock Exchange Index and Economic growth

By using the co-integration testing and error correction model (ECM), this paper investigates long-run and short-run linkages between stock exchange index and GDP. Through exploring the data from the Chinese economy, the authors get the evidences that suggest the equilibrium between stock exchange index and GDP has been broken. Then based on Expectations Theory, they reveal the reason of the stock market down-going with the increase of GDP. Then on the light of above analysis, some adviec is given.     

Empirical Analysis on Stock Market and Real Estate Market Wealth Effect in China

Based on the Modigliani's Life-Cycle Hypothesis of consumption,and relevant data,the paper empirically studies stock market and real estate market wealth effect in China by using the method of unit root test and cointegrating regression.The results show that,regardless of short-run effect and long-run effect,the stock market wealth has significantly negative effect on civil' consumption level,but real estate market wealth or housing market wealth has significantly positive effect on civil' consumption level.     

Balance Between Jobs and Housing from Perspectives of Real Estate Development and Management and Urban Planning

Jobs-housing balance is the balance between employment and housing. Its philosophy has a long history and development process in urban planning. The concept of jobs-housing balance generally refers to that the number of employed people is roughly equal to the number of occupants within a certain range. This kind of balance is conducive to reducing the commuting time and the change of transportation mode on the way that the employed people spend at work. The realization of jobs-housing balance not only helps to optimize the structure between residence and employment in the region but also is conducive to improving the work enthusiasm and work efficiency of the employed in the region and reducing the commuting costs of workers in the region. In addition, the relegalization of jobs-housing balance also has a certain impact and effect on alleviating the traffic congestion and improving the environment of the region. In summary, the realization of jobs-housing balance has a multi-faceted impact on the development of a city, and promoting the balance between occupation and housing is conducive to promoting the development of the city. The realization of jobshousing balance involves many areas. In this article, In this article, the development history of jobshousing balance is sorted out from perspectives of real estate development and management and urban planning, and its development enlightenment is discussed.     

State Infrastructure and the Geography of Employment

ABSTRACT The effects of state public capital investment on economic growth is an important question that has been the focus of a recent substantial research effort. But the majority of this research has ignored these investments’influence on the intra-state pattern of economic activity. Yet if external agglomeration economies are important determinants of growth, then investments may indirectly affect growth by fostering or discouraging agglomeration. This paper discusses the effect of state infrastructure investments on the distribution of employment within states and the implications of these spatial effects for aggregate state employment growth. Preliminary empirical results suggest that state infrastructure investments tend to redistribute growth from areas of dense employment to other parts of the state. This redistribution may diminish agglomeration benefits offered by cities, which has the potential to reduce state growth. The paper concludes with a discussion of implications of the work for research and policy.     

Evolution of the Geography of Innovation: Evidence from Patent Data

This paper examines the evolution of patent activities across U.S. states from 1963 to 1997. Several patterns are uncovered. First, there is invention catch‐up by some lagging states. Second, the evidence is consistent with knowledge diffusion. Third, leading states unable to reinvent themselves lose their leads. Fourth, catch‐up can be across a diverse field of activities or focused on select activities. State patent growth is positively correlated to industry R&D and a variable capturing labor skill and infrastructure quality. These provide rationale for state policy makers to increase support to programs that enhance labor skill (e.g., education) and infrastructure quality.     

《尚书》与中国传统农业地理学

摘 要：《尚书》与中国传统农业地理学关系密切,文章通过梳理其中与农业地理学相关的内容,从宜农作物的选择促成了土地对于人口的承载、农事活动的频繁反映出先民对于土地的开发、农业经济的发展带动了社会政治文明的进步三方面内容阐述了《尚书》之于中国传统农业地理学的继承之功与发轫之功。     

Influence of Real Estate Mortgage Reform on the Chongqing Real Estate Enterprises and Countermeasures

In this paper, primarily, the real estate mortgage reform by the Central Bank of China is introduced. The influence of the reform on Chongqing Real estate enterprises by analyzing the problems existed in real estate development in Chongqing is expounded. To decrease the influence, the developer and the government should make efforts together. For the developers, they can find more ways to finance the projects, optimize the products supply system and strengthen the risk-resisting abilities. For the government, it should find all the ways to create a suitable external environment for the real estate market.     

On the Extension of the Stock Model

Stock model of economical order batch is established under the objective of maximum total profit according to the hypotheses of constant demand rate.Based on these facts,the author suggests that the stock model of economical order batch is established under the objective of maximum total profit in system according to the hypotheses of demand rate's relying on selling price.From which one extended a model can be deduced.By using extreme-value theory,the model is proven mathematically and the method of solution is deduced for optimal order batch,optimal selling price and how to define optimal order cycle,and the sensitivity analysis has been made.One applied example is also given.     

Multinational Firms’ Location and the New Economic Geography

Multinational Firms ’ Location and the New Economic Geography
Edited by Jean‐Louis Mucchielli and Thierry Mayer, Cheltenham: Edward Elgar Publishing. 1704. xii + 238 pp. $100.00 (Cloth). ISBN 1‐84376‐654‐X.
Reviewed by Nicholas A. Phelps
School of Geography, University of Southampton     

A Comparative Study of Chaos Phenomenon of China''s Stock Index to the Oversea Stock Index

The distribution of the five-day's return on China composite stock index is studied. The empirical distribution of five day's return on SHCSPI(ShangHai composite stock price index) and SZCSPI(ShengZhen composite stock price index) has "fat tail" and no finite variance with sharp peak at mean ,which can not be normally distributed because the largest negative return possible. In addition, the return series are belong to long-turn memory fractional time series. China stock markets are not efficient markets because the chaos phenomenon is strongly shown in the stock market.     

Human Capital Stock and Flow and Economic Growth Analysis: Note

Human capital is becoming recognized as an increasingly important factor in rural economic development. Economic research, however, has not provided clear empirical support of the relationship between human capital investment and economic growth. This paper applies stock and flow concepts to human capital and suggests an operational approach for applying stock and flow concepts to the analysis of the impact of human capital investments through education on economic growth.     

漳州市加快发展对台农业交流合作政策选择的研究

随着ECFA的实施,漳台(漳州市、台湾省,下同)农业资源将进一步得到合理配置,漳台农业交流合作的空间和领域将得到更大的拓展。漳州市如何在现有的基础和成效上抓住这些有利时机,突破制约漳台农业进一步合作的瓶颈,努力促进漳台农业合作实现跨越式发展,具有重大的现实意义和深远的历史意义。