This paper investigated the relationship between demographic structure and international capital flows with panel data of 190 countries over the past 60 years＇ and projection data for the 21st century. As found, from...This paper investigated the relationship between demographic structure and international capital flows with panel data of 190 countries over the past 60 years＇ and projection data for the 21st century. As found, from a global perspective, the current account balance （CAB） is negatively related to the dependency ratio, and orresponding to continuous change, international eapital flows tend to move from ＂adult countries＂ to ＂aged or young countries.＂ Since the middle of the 20th century, the U.S., Europe, Japan, China, Southeast Asia, Central Asia, South Asia, West Asia and Africa took turns in exporting capital to other countries. In the 2lst century, Europe, the U.S., Australia and Singapore will keep importing capital, while China in the 2030s, and Southeast Asia in the 2050s will in turn become the main capital importers. Given the demographic structure of China and the world, the future pattern of the international capital flows requires more serious concern and responses.展开更多
This paper.fi＇rst conducts a systematic review of domestic and foreign scholars＇ approaches to predicting short-term capital flows, then employs a combination of both direct and indirect methods to carry out its ana...This paper.fi＇rst conducts a systematic review of domestic and foreign scholars＇ approaches to predicting short-term capital flows, then employs a combination of both direct and indirect methods to carry out its analysis. Three kinds of indicators, both specific and general, are applied in both methods. Thorough consideration is given to short-term international capital inflow from trade, other current account items, capital account, and errors and omissions, as well as other channels through which short term capital might accrue to a nation＇s balance. Based on a comprehensive comparison of year-on-year data, this paper also estimates monthly data using a simplified, indirect calculation approach. Estimates show that, despite a degree of difference in results between methods, most estimates are highly consistent for a given period. Based on monthly estimates, we conclude that turbulence in international financial markets （i.e., the United States subprime mortgage crisis and the European sovereign debt crisis） has had a major impact on China ＇s short-term capital flow.展开更多
I. IntroductionThere have been numerous studies on free capital mobility, its management and impact on developing countries’ economy during the past decades. International capital flows create opportunities for portf...I. IntroductionThere have been numerous studies on free capital mobility, its management and impact on developing countries’ economy during the past decades. International capital flows create opportunities for portfolio diversification and risk sharing. In classical cases, capital mobility permits a more efficient global allocation of savings and directs resources toward their most productive uses (Fischer, 1998, etc.). However,展开更多
利用2001—2014年共14 a的北京首都国际机场(以下简称机场)观测资料和Micaps高空及地面观测资料,将发生在机场的雷暴日分为八类(即强雷暴、弱雷暴、湿对流、干对流、弱冰雹、强冰雹、冰雹大风和混合对流),对每种类型雷暴的气候特征进行...利用2001—2014年共14 a的北京首都国际机场(以下简称机场)观测资料和Micaps高空及地面观测资料,将发生在机场的雷暴日分为八类(即强雷暴、弱雷暴、湿对流、干对流、弱冰雹、强冰雹、冰雹大风和混合对流),对每种类型雷暴的气候特征进行了统计研究,得出如下结论:(1)机场雷暴以弱雷暴为主,其次为干对流。弱雷暴和干对流在6月出现最多,强雷暴和湿对流在7月最多,弱冰雹出现在春末夏初及秋季,而冰雹大风出现在6—7月,混合对流仅在7月出现一次。(2)从500 h Pa形势来看,西风槽造成的雷暴过程最多,其它为西北气流型。500 h Pa为西风槽和低涡、西北气流时,地面辐合线触发的雷暴最多,其次为冷锋。500 h Pa为横槽时,冷锋触发的雷暴比例增加,没有由地形辐合线触发的雷暴。而副高边缘和低压倒槽类型的雷雨过程,触发系统主要为辐合线。(3)从月分布来看,低涡和西北气流型造成的雷雨在6月最多,但横槽和西风槽造成的雷雨出现最多的分别在7月和8月。西风槽、低涡和西北气流型造成的弱雷雨均最多,其次为干对流。而雷暴的地面触发系统以辐合线最多,主要出现在6月,冷锋触发的雷雨主要集中在5—6月,地形辐合线主要集中在7、8月。(4)横槽、西北气流型雷暴的日循环分布只有一个峰值,分别出现在05—12UTC和08—14UTC,但低涡和西风槽却有两个峰值,主峰值分别出现在12—13UTC和08—17UTC,次峰值分别在07—08UTC和00—01UTC。展开更多
文摘This paper investigated the relationship between demographic structure and international capital flows with panel data of 190 countries over the past 60 years＇ and projection data for the 21st century. As found, from a global perspective, the current account balance （CAB） is negatively related to the dependency ratio, and orresponding to continuous change, international eapital flows tend to move from ＂adult countries＂ to ＂aged or young countries.＂ Since the middle of the 20th century, the U.S., Europe, Japan, China, Southeast Asia, Central Asia, South Asia, West Asia and Africa took turns in exporting capital to other countries. In the 2lst century, Europe, the U.S., Australia and Singapore will keep importing capital, while China in the 2030s, and Southeast Asia in the 2050s will in turn become the main capital importers. Given the demographic structure of China and the world, the future pattern of the international capital flows requires more serious concern and responses.
文摘This paper.fi＇rst conducts a systematic review of domestic and foreign scholars＇ approaches to predicting short-term capital flows, then employs a combination of both direct and indirect methods to carry out its analysis. Three kinds of indicators, both specific and general, are applied in both methods. Thorough consideration is given to short-term international capital inflow from trade, other current account items, capital account, and errors and omissions, as well as other channels through which short term capital might accrue to a nation＇s balance. Based on a comprehensive comparison of year-on-year data, this paper also estimates monthly data using a simplified, indirect calculation approach. Estimates show that, despite a degree of difference in results between methods, most estimates are highly consistent for a given period. Based on monthly estimates, we conclude that turbulence in international financial markets （i.e., the United States subprime mortgage crisis and the European sovereign debt crisis） has had a major impact on China ＇s short-term capital flow.
文摘I. IntroductionThere have been numerous studies on free capital mobility, its management and impact on developing countries’ economy during the past decades. International capital flows create opportunities for portfolio diversification and risk sharing. In classical cases, capital mobility permits a more efficient global allocation of savings and directs resources toward their most productive uses (Fischer, 1998, etc.). However,
文摘利用2001—2014年共14 a的北京首都国际机场(以下简称机场)观测资料和Micaps高空及地面观测资料,将发生在机场的雷暴日分为八类(即强雷暴、弱雷暴、湿对流、干对流、弱冰雹、强冰雹、冰雹大风和混合对流),对每种类型雷暴的气候特征进行了统计研究,得出如下结论:(1)机场雷暴以弱雷暴为主,其次为干对流。弱雷暴和干对流在6月出现最多,强雷暴和湿对流在7月最多,弱冰雹出现在春末夏初及秋季,而冰雹大风出现在6—7月,混合对流仅在7月出现一次。(2)从500 h Pa形势来看,西风槽造成的雷暴过程最多,其它为西北气流型。500 h Pa为西风槽和低涡、西北气流时,地面辐合线触发的雷暴最多,其次为冷锋。500 h Pa为横槽时,冷锋触发的雷暴比例增加,没有由地形辐合线触发的雷暴。而副高边缘和低压倒槽类型的雷雨过程,触发系统主要为辐合线。(3)从月分布来看,低涡和西北气流型造成的雷雨在6月最多,但横槽和西风槽造成的雷雨出现最多的分别在7月和8月。西风槽、低涡和西北气流型造成的弱雷雨均最多,其次为干对流。而雷暴的地面触发系统以辐合线最多,主要出现在6月,冷锋触发的雷雨主要集中在5—6月,地形辐合线主要集中在7、8月。(4)横槽、西北气流型雷暴的日循环分布只有一个峰值,分别出现在05—12UTC和08—14UTC,但低涡和西风槽却有两个峰值,主峰值分别出现在12—13UTC和08—17UTC,次峰值分别在07—08UTC和00—01UTC。
