Content of Industry & Trade in our journal

Published in last 1 year |  In last 2 years |  In last 3 years |  All Please wait a minute... For Selected: Download Citations EndNote Ris BibTeX Toggle Thumbnails Select Order Improvement, Tacit Collusion and Minimum Retail Price WANG Zi-li, WAN Xin Contemporary Finance & Economics    2024, 0 (8): 112-125.   Abstract （138）            Knowledge map    Save Identifying and weighing the efficiency functions and the anti-competitive consequences of the minimum Retail Price Maintenance（RPM）are important issues that need to be solved urgently in current antitrust theory and practice. The findings of this study show that when there is uncertainty in market demand and there is retail information asymmetry between the upstream manufacturers and the downstream retailers, there are three effects of competing manufacturers using RPM: the order improvement effect, which solves the problem of insufficient orders caused by market demand uncertainty; the tacit collusion effect, which prevents the colluding manufacturers from using information asymmetry to deviate from collusion and improves the stability of tacit collusion; the retail information effect, which prevents retailers from taking advantage of retail information to adjust retail prices. The specific impact of RPM on consumer welfare depends on the comprehensive comparison of the above effects. The greater the uncertainty in market demand, the smaller the degree of retail information asymmetry, or the weaker the product substitutability, the more likely it is that RPM will improve consumer welfare. The antitrust law enforcement agencies can classify and identify the motivations for RPM implementation according to the market demand uncertainty and the retail information asymmetry in the RPM implementation environment, whether retail prices change when low market demand occurs, and the attitude of manufacturers toward retailers’ price cuts. When a manufacturer may use RPM both for order improvement and for tacit collusion effects, the more substitutable the product, the more the law enforcement agencies should consider the anti-competitive consequences of the manufacturer’s use of RPM and implement relatively stricter scrutiny; otherwise, the law enforcement agencies should consider its possible efficiency features and take a relatively more tolerant stance on manufacturers’ use of RPM. Reference | Related Articles | Metrics | Comments（0） Select How Can Two-Way FDI Enhance the“Core Chains”Status of“Bottleneck”Industrial Chains? PANG Lei Contemporary Finance & Economics    2024, 0 (8): 126-139.   Abstract （143）            Knowledge map    Save The two-way FDI“targeted”industrial design can effectively solve the problem of the out-migration of the low-end industrial chains into the developing countries and the back-flow of the high-end industrial chains into the developed countries, further promoting the“core chains”status of our country’s“bottleneck”industrial chains. From the perspective of targeted investment, this paper uses the data from the Guotaian database, the historical OFDI statistical bulletins, the reports of foreign direct investments and the input-output tables from 2000 to 2022 to empirically study the internal relation between the two-way FDI and the status of the“core chains”of the“bottleneck”industry chains. The following conclusions are drawn: firstly, the internal and external linkages of the two-way FDI and the technology spillover of the“targeted”FDI have significantly enhanced the“core chain”status of the“bottleneck”industry chains; secondly, industry heterogeneity exists in the strength of the two-way FDI enhancing the“core chains”status of the“bottleneck”industry chain, with the strongest effect in the aircraft engine nacelle and the weakest in the lithography machine; thirdly, regional heterogeneity exists in the strength of the two-way FDI enhancing the“core chains”status of the “bottleneck”industry chain, with the strongest effect in the eastern coastal region and the weakest in the northwestern region; fourthly, temporal heterogeneity exists in the function of the two-way FDI in enhancing the status of the“core chains”of the“bottleneck”industrial chains, which is manifested by significant differences at the five periods. Accordingly, this paper proposes the following countermeasures and suggestions: increasing support for two-way direct investment, setting targeted objects for two-way direct investment, fully leveraging the advantages of the strategy of strengthening the nation through human resource development and the new nationwide system, and further enhancing the core chain position of China’s“bottleneck”industrial chain. Reference | Related Articles | Metrics | Comments（0）