The Analysis of Industry Cluster＇s Collusion Risk Based on Industrial Value Chain

According to the problems which the researchers at home and abroad have studied, the article establishes the system of industry cluster model based on the value chain, and analyzes the process of collusion risk evolved in industry cluster by perturbation theory based on value chain, aiming to find theoretical basis for controlling the evolvement process of collusion risk.     

The Influences of FDI on China＇s Economy

During the past 30 years, China has attracted huge amounts of Foreign Direct Investment （FDI） inflows and FDI firms have become an important element of the Chinese economy. The paper discusses the influence of FDI on China＇s economy, summarizes the analysis of the external effects of FDI and focuses on the domestic effects of FDI.     

Relationships of the Monetary Policy, Stock Market and Real Investment in China Based on Markov-Switching Model

This paper studies the relationships of the monetary policy, stock market and real investment in China based on Markov-Switching-Vector Error Correction Model. It shows that there is a cointegration relationship among the three ones. We disclose the riddle that the stock market is in recession, but the growth rate of economy is very high in recent years. We also find that Chinese economy operated stably most of the time during the past 8 years. But if the economy is difficult to continue its high growth, it is more likely to appear ＂hard landing＂ than ＂soft landing＂. The impulse response analysis indicates the asymmetry between the ＂too cold＂ economy regime and the ＂too hot＂ regime. And the economy will oscillate during the subsequent time when it is shocked under the ＂too hot＂ regime.