Suchergebnisse

Based on data from 121 countries, the study assesses the dynamic effect and causality path of the government epidemic prevention policies and human mobility behaviors on the growth rates of COVID-19 new cases and deaths. Our results find that both policies and behaviors influenced COVID-19 cases and deaths. The direct effect of policies on COVID-19 was more than the indirect effect. Policies influence behaviors, and behaviors react spontaneously to information. Further, masks give people a false sense of security and increase mobility. The close public transport policy increased COVID-19 new cases. We also conducted sensitivity analysis and found that some policies hold robustly, such as the policies of school closing, restrictions on gatherings, stay-at-home requirements, international travel controls, facial coverings, and vaccination. The counterfactual tests suggest that, as of early March 2021, if governments had mandated masking policies early in the epidemic, the cases and deaths would have been reduced by 18% and 14% separately. If governments had implemented vaccination policies early in the pandemic, the cases and deaths would have been reduced by 93% and 62%, respectively. Without public transportation closures, cases and deaths would have been reduced by 40% and 10%, respectively.

Enterprise investment is closely related to cost of capital, and cost of capital is affected by lending rate driven by national monetary policy. For instance, the retail interest rate (including deposit, loan interest rates) of a bank would rise during the practice of tight national monetary policy. Excessively high loan interest rate would reduce enterprises' investment due to increasing cost of capital. In this case, corporate investment behavior could be understood from national monetary policy. Taking listed companies publicly offered by Shanghai Stock Exchange and Taipei Exchange as the research samples, the open annual information from the database are acquired. Industry peculiarities, financial, securities, and insurance industries applicable to special accounting standards, as well as construction industry are excluded, and samples with incomplete or omitted data are deleted. The research results show that 1.the practice of easing policy in national monetary policy allows Chinese enterprises holding higher free cash flow, 2.Chinese enterprises with positive free cash flow appear higher investment behavior, and 3.the practice of easing policy in national monetary policy results in higher investment behavior of Chinese enterprises. According to the results, it is proposed to discuss the evaluation basis for impacts on industrial development during monetary policy. The results could assist policy makers in better understanding impacts of national monetary policy adjustment on enterprise investment effect as well as provide business managers for evaluating the effectiveness of national monetary policy.

In the face of an integrating world economy where significant changes are taking place as a result of rapidly developing science and technology, China's government must attach more importance to technology transfer to improve its economy. This paper analyses the features of the new environment and discusses the framework of technology transfer based on a review of theory, surveys and studies of Chinese enterprises. In particular, it considers the role of foreign funded enterprises and the importance of creating a positive cycle of technology "transfer‐digestion‐absorption‐dissemination" in China for increasing involvement in international production and trade activities within a global market.