Competition of the mechanisms : how Chinese home appliance firms coped with default risk of trade credit?

During the transition period from a planned economy to a market economy in 1990s of China, there was a considerable accrual of deferred payment, and default due to inferior enforcement institutions. This is a very common phenomenon in the transition economies at that time. Interviews with home electronics appliance firms revealed that firms coped with this problem by adjusting their sales mechanisms (found four types), and the benefit of institutions was limited. A theoretical analysis claim that spot and integration are inferior to contracts, a contract with a rebate on volume and prepayment against an exclusive agent can realize the lowest cost and price. The empirical part showed that mechanisms converged into a mechanism with the rebate on volume an against exclusive agent and its price level is the lowest. The competition is the driving force of the convergence of mechanisms and improvement risk management capacity.

エジプトにおける軍の経済活動 -- スィースィー体制での役割

Since the second transition period started July 2013, the Egyptian armed forces have once again played a critical role in building a new political system. Although the Supreme Council of the Armed Forces (SCAF) had not come to the front this time, it controlled the transition process and succeeded in keeping the privileges of the military in both political and economic fields. This paper focuses on the economic role of the military under the regime of Abdel Fattah el-Sisi. Large scale economic activity of the military started in the mid-1970s. The military expanded its grip on the domestic economy and became one of the largest producers in Egyptian civil industry. In addition to controlling a huge business empire, the military under the Sisi administration is an entity supportive of national development goals. As the backer of the current regime, the armed forces have taken on a new responsibility as a central role player in economic development.