国际经贸高级英语-精读与翻译1

国际经贸高级英语

——精读与翻译内容提要

本书是国际经济学和国际贸易学专业英语精读与翻译教材。全书共有课文20篇，主要选自美、英等国出版的最新经济学专著和刊物原文素材，内容极为丰富，涉及一般经济学理论、国际金融、国际贸易、国际投资、企业管理、中国经济改革、中外经济关系等经贸领域。同时，本书结合课文还配有词组(包括专有名词)的解释，短语、句子和段落的中译英，以培养学生的阅读和翻译能力。颇具特色的是：本书配套了专业英语的写作训练，以提高学习者的英语写作能力；本书在每篇课文后还配了补充阅读材料，它们与课文有很大的相关性，拓展了读者的阅读面和理解深度。本书内容新颖、选材精当、编排合理、重点突出，既可作为高等学校经济、贸易、金融、管理等学科的专业英语教材，或作为任何涉外经济工作者的英语自学课本，也可以作为准备和参加博士生专业英语(经管类)考试的参考读物。UnitOne

KnowledgeandEconomicGrowthTEXT

Startingaslow-incomeeconomiesinthe1960s,afeweconomiesinEastAsiamanaged,inafewdecades,tobridgeallornearlyalloftheincomegapthatseparatedthemfromthehigh-incomeeconomiesoftheOrganisationforEconomicCo-operationandDevelopment(OECD).Meanwhilemanyotherdevelopingeconomiesstagnated.UnitOne

KnowledgeandEconomicGrowthWhatmadethedifference?Onewaytogrowisbydevelopinghithertounexploitedland.Anotheristoaccumulatephysicalcapital:roads,factories,telephonenetworks.Athirdistoexpandthelaborforceandincreaseitseducationandtraining.ButHongKong(China)andSingaporehadalmostnoland.Theydidinvestheavilyinphysicalcapitalandineducatingtheirpopulations,butsodidmanyothereconomies.Duringthe1960sthroughthe1980stheSovietUnionaccumulatedmorecapitalasashareofitsgrossdomesticproduct(GDP)thandidHongKong(China),theRepublicofKorea,Singapore,orTaiwan(China).Anditincreasedtheeducationofitspopulationinnotrivialmeasure.YettheSovietsgeneratedfarsmallerincreasesinlivingstandardsduringthatperiodthandidthesefourEastAsianeconomies.UnitOne

KnowledgeandEconomicGrowth

PerhapsthedifferencewasthattheEastAsianeconomiesdidnotbuild,work,andgrowhardersomuchastheybuilt,worked,andgrewsmarter.Couldknowledge,then,havebeenbehindEastAsia’ssurge?Ifso,theimplicationsareenormous,forthatwouldmeanthatknowledgeisthekeytodevelopment—thatknowledgeisdevelopment.HowimportantwasknowledgeforEastAsia’sgrowthspurt?Thisturnedoutnottobeaneasyquestiontoanswer.Themanyvarietiesofknowledgecombinewithitslimitedmarketabilitytopresentaformidablechallengetoanyoneseekingtoevaluatetheeffectofknowledgeoneconomicgrowth.UnitOne

KnowledgeandEconomicGrowthHow,afterall,doesoneputapricetagonandaddupthevarioustypesofknowledge?Whatcommondenominatorletsussumtheknowledgethatfirmsuseintheirproductionprocesses;theknowledgethatpolicymakinginstitutionsusetoformulate,monitor,andevaluatepolicies;theknowledgethatpeopleuseintheireconomictransactionsandsocialinteractions?Whatisthecontributionofbooksandjournals,ofR&Dspending,ofthestockofinformationandcommunicationsequipment,ofthelearningandknowhowofscientists,engineers,andstudents?Compoundingthedifficultyisthefactthatmanytypesofknowledgeareaccumulatedandexchangedalmostexclusivelywithinnetworks,traditionalgroups,andprofessionalassociations.Thatmakesitvirtuallyimpossibletoputavalueonsuchknowledge.UnitOne

KnowledgeandEconomicGrowth

Reflectingthesedifficultiesinquantifyingknowledge,effortstoevaluatetheaggregateimpactofknowledgeongrowthhaveoftenproceededindirectly,bypostulatingthatknowledgeexplainsthepartofgrowththatcannotbeexplainedbytheaccumulationoftangibleandidentifiablefactors,suchaslabororcapital.Thegrowthnotaccountedforbythesefactorsofproduction—theresidualinthecalculation—isattributedtogrowthintheirproductivity,thatis,usingtheotherfactorssmarter,throughknowledge.ThisresidualissometimescalledtheSolowresidual,aftertheeconomistRobertM.Solow,whospearheadedtheapproachinthe1950s,andwhatitpurportstomeasureisconventionallycalledtotalfactorproductivity(TFP)growth.SomealsocalltheSolowresidualameasureofourignorance,becauseitrepresentswhatwecannotaccountfor.Indeed,wemustbecarefulnottoattributeallofTFPgrowthtoknowledge,fortheremaybeotherfactorslurkinginUnitOne

KnowledgeandEconomicGrowth

theSolowresidual.Manyotherthingsdocontributetogrowth—institutionsareanexample—butarenotreflectedinthecontributionsofthemoremeasurablefactors.Theireffectis(sofar)inextricablywovenintoTFPgrowth.InearlyTFPanalyses,physicalcapitalwasmodeledastheonlycountry-specificfactorthatcouldbeaccumulatedtobetterpeople’slives.Technicalprogressandotherintangiblefactorsweresaidtobeuniversal,equallyavailabletoallpeopleinallcountries,andthuscouldnotexplaingrowthdifferencesbetweencountries.TheircontributionstogrowthwerelumpedwiththeTFPgrowthnumbers.Althoughthisassumptionwasconvenient,itquicklybecameobviousthatphysicalcapitalwasnottheonlyfactorwhoseaccumulationdroveeconomicgrowth.Astudythatanalyzedvariationsingrowthratesacrossalargenumberofcountriesshowedthattheaccumulationofphysicalcapitalexplainedlessthan30percentofthosevariations.Therest—70percentormore—wasattributeddirectlyorindirectlytotheintangiblefactorsthatmakeupTFPgrowth(Table1.1).UnitOne

KnowledgeandEconomicGrowthLaterattemptsintroducedhumancapitaltobetterexplainthecausesofeconomicgrowth.Ahigherlevelofeducationinthepopulationmeansthatmorepeoplecanlearntousebettertechnology.EducationwassurelyakeyingredientinthesuccessoffourofthefastestgrowingEastAsianeconomies:HongKong(China),theRepublicofKorea,Singapore,andTaiwan(China).Beforetheirtransformationfromdevelopingintoindustrializingeconomies,theirschoolenrollmentrateshadbeenmuchhigherthanthoseofotherdevelopingcountries(Table1.2).Theyhadalsoemphasizedadvancedscientificandtechnicalstudies—asmeasuredbytheirhigherratiosofstudentsintechnicalfieldsthaninevensomeindustrialcountries—thusenhancingtheircapacitytoimportsophisticatedtechnologies.Moreover,theimportanceofeducationforeconomicgrowthhadlongbeenrecognizedandestablishedempirically.Onestudyhadfoundthatgrowthinyearsofschoolingexplainedabout25percentoftheincreaseinGDPpercapitaintheUnitedStatesbetween1929and1982.UnitOne

KnowledgeandEconomicGrowth

Addingeducationreducedthepartofgrowththatcouldnotbeexplained,thusshrinkingthehaystackinwhichTFPgrowth(andknowledge)remainedhidden.Someanalystsevenconcluded,perhapstooquickly,thatphysicalandhumancapital,properlyaccountedfor,explainedallorvirtuallyalloftheEastAsianeconomies’rapidgrowth,leavingknowledgeasaseparatefactoroutofthepicture(Box1.2).OnereasontheseanalystscameupwithlowvaluesforTFPgrowthisthattheyincorporatedimprovementsinlaborandequipmentintotheirmeasurementoffactoraccumulation.SoeventheirevidenceoflowTFPgrowthinEastAsiadoesnotrefutetheimportanceofclosingknowledgegaps.Indeed,itshowsthatthefast-growingEastAsianeconomieshadasuccessfulstrategytocloseknowledgegaps:byinvestingintheknowledgeembodiedinphysicalcapital,andbyinvestinginpeopleandinstitutionstoenhancethecapabilitytoabsorbanduseknowledge.

UnitOne

KnowledgeandEconomicGrowthLookingbeyondEastAsia,othergrowthaccountingstudieshaveexaminedlargersamplesofcountries.Evenwhenhumancapitalisaccountedfor,theunexplainedpartofgrowthremainshigh.Onesuchstudy,of98countrieswithanunweightedaveragegrowthrateofoutputperworkerof2.24percent,foundthat34percent(0.76percentagepoint)ofthatgrowthcamefromphysicalcapitalaccumulation,20percent(0.45percentagepoint)fromhumancapitalaccumulation,andasmuchas46percent(justover1percentagepoint)fromTFPgrowth.Evenmoreremainstobeexplainedinvariationsingrowthratesacrosscountries.Thesamestudyfoundthecombinedroleofhumanandphysicalcapitaltobeaslowas9percent,leavingtheTFPresidualatastaggering91percent.Totakeanotherexample:KoreaandGhanahadsimilarlylowincomespercapitainthe1950s,butby1991Korea’sincomepercapitawasmorethanseventimesGhana’s.Muchofthatgapremainsunexplainedevenwhenhumancapitalistakenintoaccount(Figure1.2).UnitOne

KnowledgeandEconomicGrowth

Alltheseresultsaresubjecttomeasurementproblems.Forexample,themeasuredstockofhumancapitalmayoverstatetheactualquantityusedinproducinggoodsandservices.Highratesofschoolenrollmentorattainment(yearscompleted)maynottranslateintohigherratesofeconomicgrowthifthequalityofeducationispoor,orifeducatedpeoplearenotemployedattheirpotentialbecauseofdistortionsinthelabormarket.Moreover,itisnowevidentthateducationwithoutopennesstoinnovationandknowledgewillnotleadtoeconomicdevelopment.ThepeopleoftheformerSovietUnion,likethepeopleoftheOECDcountriesandEastAsia,werehighlyeducated,withnearly100percentliteracy.Andforaneducatedpopulationitispossible,throughforeigndirectinvestmentandothermeans,toacquireanduseinformationUnitOne

KnowledgeandEconomicGrowthaboutthelatestproductionandmanagementinnovationsinothercountries.ButtheSovietUnionplacedsevererestrictionsonforeigninvestment,foreigncollaboration,andinnovation.Itsworkforcedidnotadaptandchangeasnewinformationbecameavailableelsewhereintheworld,andconsequentlyitseconomysufferedadecline.

(excerptedfromWorldDevelopmentReport1998/1999)UnitOne

KnowledgeandEconomicGrowthExercisesⅠ.TranslatethefollowingintoEnglish,usingthewordsorphrasesinthetext:1.对经济增长必不可少的实物资本的积累theaccumulationofphysicalcapitalindispensabletoeconomicgrowth2.引进国外的先进设备和技术诀窍toimportadvancedequipmentandknow-howfromabroad3.占世界技术贸易总量90%的许可证贸易

licensetradeaccountingfor90percentofthetotalvolumeoftheworld’stradeoftechnologyUnitOne

KnowledgeandEconomicGrowth4.经济发展中所反映出来的人力资本的匮乏5.高科技对产业调整的重大影响thegreatimpactofhightechnologyontheadjustmentofindustries6.推动经济增长的关键因素keyfactorsdrivingeconomicgrowth7.从一个农业国向工业国的转型

thetransformationfromanagriculturalnationintoanindustrialonelackofhumancapitalreflectedineconomicdevelopmentUnitOne

KnowledgeandEconomicGrowth8.构成全要素生产率增长的有形和无形因素9.隐藏在技术进步之后的教育系统的改善theimprovementofeducationalsystemslurkingintechnologicalprogress10.该产业中资本与劳动力的比率theratioofcapitaltolabourinthisindustry11.增加劳动力数量并提高其教育培训程度

expandthelabourforceandincreaseitseducationandtrainingthetangibleandintangiblefactorsmakingupthetotalfactorproductivitygrowthUnitOne

KnowledgeandEconomicGrowth12.研发部门在跨国公司经营中的作用13.一份对多国技术进步情况进行分析的报告

astudyreportanalyzingvariationsintechnicalprogressacrossalargenumberofcountries14.把计量和模型结合引入经济分析toincorporatequantityandmodelsintoeconomicanalysis15.发达国家和发展中国家在收入上的巨大差距greatgapinincomesbetweendevelopedanddevelopingnationstheroleoftheR&DdepartmentintheoperationsofmultinationalcorporationsUnitOne

KnowledgeandEconomicGrowthⅡ.TranslatethefollowingsentencesintoEnglish:1.不少经济学家认为，像香港、新加坡这样土地稀少的地区，其经济的快速发展应该主要归功于教育程度的提高。在此基础上，经济学家们得出了结论：知识是这些国家或地区经济发展的主要因素。(attributeto)

Manyeconomistsattributedtherapideconomicgrowthrateofsomeland-desiringareas,suchasHongKongandSingapore,totheenhancementofeducationallevelsoftheirpopulations.Basedonthis,theydrewtheirconclusionthatknowledgeisthekeytotheireconomicdevelopment.UnitOne

KnowledgeandEconomicGrowth2.60年代，日本在从发达国家大量引进尖端技术和技术诀窍的基础上，进行了大规模的经济扩张活动，使日本的经济在短短的20年间迅速赶上了世界先进水平。(know-how)

Inthe1960s,onthebasisofimportingmuchsophisticatedtechnologyandKnow-howfromdevelopedcountries,Japanexpandeditseconomyonalargescale,enablingitseconomytokeepupwiththemostadvancedleveloftheworldinashortperiodof20years.UnitOne

KnowledgeandEconomicGrowth3.新经济理论的发展给统计学提出了许多课题，例如，高就学率并不意味着经济的高增长率，如果教育质量很差，或受过教育的人们在一个扭曲的劳动力市场上不能人尽其用的话。(beemployedatone’spotential;translateinto)

Thedevelopmentofneweconomictheorieshasraisedmanysubjectstostatistics.Forexample,highratesofschoolenrollmentmaynottranslateintohighratesofeconomicgrowthifthequalityofeducationispoor,orifeducatedpeoplearenotemployedattheirpotentialbecauseofdistortioninthelabormarket.UnitOne

KnowledgeandEconomicGrowth4.1994年，在经过长期研究之后，著名经济学家克鲁格曼发表了一份对多国技术进步情况调查的报告。他指出，亚洲的经济不是建立在技术进步的基础上，所以含有很多泡沫。3年后爆发的东南亚经济危机证实了他的猜想。(variationsintechnicalprogress)

In1994,afteralongperiodofresearch,thefamouseconomistKrugmanpresentedastudyreportanalyzingvariationsintechnicalprogressacrossalargenumberofcountries.HesaidinthereportthattheeconomicdevelopmentofAsiawasnotbasedontheprogressoftechnology,sotheeconomycontainedmuchfoam.Threeyearslater,thesuddenbreak-outofSoutheastAsianeconomiccrisisverifiedhisaasumption.UnitOne

KnowledgeandEconomicGrowth5.由于科学技术在一定程度上是无形的，所以，到目前为止，人们还未想出确定其价值大小的理想方法。(putavalueon)

Peoplehaven’thithertocomeupwithanidealmethodtoputavalueonscienceandtechnology,foritisintangibletosomedegree.UnitOne

KnowledgeandEconomicGrowthIII.PutthefollowingpassageintoEnglish:在信息时代，竞争力的关键是知识，而不是实物资产或资源。不仅对知识密集型部门，比如电脑软件或生物技术部门来说是如此，而且对工业时代的制造业公司或公共事业公司来说也是这样。