翻译资料 (35)

翻译资料 (35)
翻译资料 (35)

2012第1周翻译练习及答案

1.汉译英:

在元朝末年,朝廷变得腐败无能。许多读书人都坚信蒙古人已失掉了天命,不再能统治天下了。然而他们当中谁曾料到,天命竟然会落到朱元璋这样一位几乎终生目不识丁的人头上。明太祖朱元璋出身极其微贱,除了天生才具之外一无所有。他的父母是极其贫苦的农民,因饥荒而背井离乡。为了不至于全家都饿死,他们把儿子卖进了寺庙。朱元璋做了几年小和尚,然后就跑掉当了土匪。在当时天下大乱、反叛四起的情况下,他这么做倒是顺理成章。过了一些年,他在南京登基坐殿,开创了明朝近三百年的江山。

In the final years of Yuan dynasty, the imperial government had become corrupt and incompetent. Many scholars firmly believed that the Mongols had lost the mandate of heaven to rule the country. But none of them expected that the mandate of heaven would be passed onto Zhu Yuanzhang, who remained virtually illiterate all his life. Zhu Yuanzhang, the Emperor Taizu of Ming, was a man of the most humble origin,with nothing but his natural ability at his disposal. His parents were poor peasants. Forced to leave their homeland because of famine, they sold their son into a Buddhist monastery to save both his life and their own. After a few years as a novice monk, Zhu ran away and became a bandit.This was a logical step for him to take, considering the great confusion of the age, with revolts breaking out everywhere. Some years later, he ascended the throne in Nanjing and proclaimed the founding of the Ming dynasty, which was to last nearly 300 years.

2.英译汉:

The Weather in His Soul

George Santayana

Let me come to the point boldly; what governs the Englishman is his inner atmosphere, the weather in his soul. It is nothing particularly spiritual or mysterious. When he has taken his exercise and is drinking his tea or his beer and lighting his pipe; when, in his garden or by his fire, he sprawls in an aggressively comfortable chair; when well-washed and well-brushed, he resolutely turns in church to the east and recites the Creed (with genuflexions, if he likes genuflexions)without in the least implying that he believes one word of it; when he hears or sings the most crudely sentimental and thinnest of popular songs, unmoved but not disgusted; when he makes up his mind who is his best friend or his favorite poet; when he adopts a party or a sweetheart; when he is hunting or shooting or boating, or striding through the fields; when he is choosing his clothes or his profession——never is it a precise reason, or purpose, or outer fact that determines him; it is always the atmosphere of his inner man.

To say that this atmosphere was simply a sense of physical well-being, of coursing blood and a prosperous digestion, would be far too gross; for while psychic weather is all that, it is also a witness to some settled disposition, some ripening inclination for this or that, deeply rooted in the soul. It gives a sense of direction in life which is virtually a code of ethics, and a religion behind religion. On the other hand, to say it was the vision of any ideal or allegiance to any principle would be making it far too articulate and abstract. The inner atmosphere, when compelled to condense into words, may precipitate some curt maxim or over-simple theory as a sort of war-cry; but its puerile language does it injustice, because it broods at a much deeper level than language or even thought. It is a mass of dumb instincts and allegiances, the love of a certain quality of life, to be maintained manfully. It is pregnant with many a stubborn assertion and rejection. It fights under its trivial fluttering opinions like a smoking battleship under its flags and signals; you must consider, not what they are, but why they have been hoisted and will not be lowered. One is tempted at times to turn away in despair from the most delightful acquaintance——the picture of manliness, grace, simplicity,and honor, apparently rich in knowledge and humor——because of some enormous platitude he reverts to, some hopelessly stupid little dogma from which one knows that nothing can ever

liberate him. The reformer must give him up; but why should one wish to reform a person so much better than oneself? He is like a thoroughbred horse, satisfying to the trained eye, docile to the light touch, and coursing in most wonderful unison with you through the open world. What do you care what words he uses? Are you impatient with the lark because he sings rather than talks? And if he could talk, would you be irritated by his curious opinions? Of course, if any one positively asserts what is contrary to fact, there is an error, though the error may be harmless; and most divergences between men should interest us rather than offend us, because they are effects of perspective, or of legitimate diversity in experience and interests. Trust the man who hesitates in his speech and is quick and steady in action, but beware of long arguments and long beards. Jupiter decided the most intricate questions with a nod, and a very few words and no gestures suffice for the Englishman to make his inner mind felt most unequivocally when occasion requires.

Instinctively the Englishmen is no missionary, no conqueror. He prefers the country to the town, and home to foreign parts. He is rather glad and relieved if only natives will remain natives and strangers strangers, and at a comfortable distance from himself. Yet outwardly he is most hospitable and accepts almost anybody for the time being; he travels and conquers without a settled design, because he has the instinct of exploration. His adventures are all external; they change him so little that he is not afraid of them. He carries his English weather in his heart wherever he goes, and it becomes a cool spot in the desert, and a steady and sane oracle amongst all the deliriums of mankind. Never since the heroic days of Greece has the world had such a sweet, just, boyish master. It will be a black day for the human race when scientific blackguards, conspirators, churls, and fanatics manage to supplant him.

英国人灵魂的气象

乔治·桑塔雅那

让我直接进入正题吧:左右(主宰,支配)英国人的是他内在的情调(情绪),心灵里的气象。这决不是什么精神层面的或神秘的东西。设想在他运动之余品茶或喝酒,并且点着烟斗;或在花园里或壁炉旁懒洋洋地躺在舒适的安乐椅上;或在他精心梳洗之后,在教堂里毅然面向东方背诵(跪诵,假如他喜欢跪诵)信经,但这决不意味着他相信其中的任一字句(只言片语);或在他听着或哼着最低俗感伤、最浅薄的流行歌曲,虽未被感动但也并不讨厌;或在他确定谁是他最好的朋友或最喜爱的诗人;或在他选择一个群体或一个恋人;或在他打(狩)猎、射

击、划船或大步走过田野;或在他挑选服装或选择职业——在他做着这一切的时候,并不是因为某一个确定的理由,或目的,或外界的事物,而是他内在的情调在决定着他的取向。

若说这一内在的情调仅仅是对于身体状况、血液循环和消化功能的感觉,那未免过于粗浅;因为,虽然灵魂的气象全然如此,它毕竟也是深深根植于灵魂之中的某种稳定的气质和某一日臻成熟的心理倾向的见证。它给人以生活的方向感,实则是一种道德准则,宗教背后的宗教(一种宗教的幌子)。另一方面,若它是对于一种理想的幻想或对于某一原则的忠诚,那就把它说得过于雄辩也过于抽象了。这个“内在的情调”,必须用语言来表述时,可以凝结成一句战斗口号似的简短格言或简单的理论;但那幼稚的语言并不能将它表述清楚,因为它孕育在比语言,甚至比思想还要深得多的层次上。它是一团无声的本能和忠诚的结合体,是对某种生活品质的爱,需要勇敢而坚定地予以保持。它固执地坚持很多观点,也固执地摈弃很多妄念。它在各种涌动于内心的细微见解之下进行战斗,就像一艘吐浓烟的战舰在种种旗帜和信号的指挥之下进行战斗一样;你所要考虑的不是它们是什么,而是它们既然已经升起就不再降落这是为什么。有时人会在绝望的时候抛弃最让他感到快活的相识——有男子汉气概、儒雅、素朴、正直、显出一副知识渊博和幽默的样子——因为他总是重弹某些老调,陷入愚蠢的琐碎教条之中而无法得到解救。改良者必须放弃他;为什么偏要改变一个比自己好得多的人呢?他就像一匹英国纯种马,行家一看就满意,轻轻一拍就能领会你的意图,和你完全融为一体,载着你在空旷的原野里驰骋。至于他说话时如何措词,你在乎那个干什么?你会因为云雀只唱歌而不说话就对它不耐烦吗?假使它会说话,你会对它那些奇怪的念头感到恼火吗?当然,假如有人武断地坚持与事实相反的意见,那肯定是错误的,虽然这错误未必有害;再说人们之间大多数分歧应该引起我们的兴趣,而不是激怒我们,因为这些分歧是由于看问题的角度不同,或由于那些合乎情理的经验和兴趣的多样性而引起的,应当信任那些言语迟疑但行动迅速而坚定的人,但要警惕无休止的争论(那些作长篇大论)和长着长胡子的人。朱庇特只一点头就决定了最棘手的问题,而当情势所需时,英国人只需三言两语而无需比比划划,就能使人准确无误地了解他的内心世界。

就其本能而言,英国人不是传教士,不是征服者。他宁愿待在乡村,而不愿住在城市,宁愿待在家里,而不愿去陌生的地方。如果本地人还是本地人,陌生人始终是陌生人,而且和自己保持一段舒适的距离,他会很高兴,很舒心。但在外表上,他很好客,几乎任何人他都可以暂时接纳;他不是按照一成不变的计划去旅行,去征服,因为他有探索的本能。他的冒险活动都是表面的,对他自己几乎没有什么影响,所以他不怕冒险。无论他走到哪里,心里总是怀着他的“英国气象”。它已变成沙漠里一个清凉的处所,人类谵妄之中一个稳固而明智的圣堂。自从希腊的英雄时代以来,世界还没有过如此可爱、正直和孩子气的主人。若以科学上的无赖、阴谋家、吝啬鬼和狂热之徒取而代之,将是人类遭遇暗无天日之时。

英文论文及中文翻译

International Journal of Minerals, Metallurgy and Materials Volume 17, Number 4, August 2010, Page 500 DOI: 10.1007/s12613-010-0348-y Corresponding author: Zhuan Li E-mail: li_zhuan@https://www.360docs.net/doc/6e9511128.html, ? University of Science and Technology Beijing and Springer-Verlag Berlin Heidelberg 2010 Preparation and properties of C/C-SiC brake composites fabricated by warm compacted-in situ reaction Zhuan Li, Peng Xiao, and Xiang Xiong State Key Laboratory of Powder Metallurgy, Central South University, Changsha 410083, China (Received: 12 August 2009; revised: 28 August 2009; accepted: 2 September 2009) Abstract: Carbon fibre reinforced carbon and silicon carbide dual matrix composites (C/C-SiC) were fabricated by the warm compacted-in situ reaction. The microstructure, mechanical properties, tribological properties, and wear mechanism of C/C-SiC composites at different brake speeds were investigated. The results indicate that the composites are composed of 58wt% C, 37wt% SiC, and 5wt% Si. The density and open porosity are 2.0 g·cm–3 and 10%, respectively. The C/C-SiC brake composites exhibit good mechanical properties. The flexural strength can reach up to 160 MPa, and the impact strength can reach 2.5 kJ·m–2. The C/C-SiC brake composites show excellent tribological performances. The friction coefficient is between 0.57 and 0.67 at the brake speeds from 8 to 24 m·s?1. The brake is stable, and the wear rate is less than 2.02×10?6 cm3·J?1. These results show that the C/C-SiC brake composites are the promising candidates for advanced brake and clutch systems. Keywords: C/C-SiC; ceramic matrix composites; tribological properties; microstructure [This work was financially supported by the National High-Tech Research and Development Program of China (No.2006AA03Z560) and the Graduate Degree Thesis Innovation Foundation of Central South University (No.2008yb019).] 温压-原位反应法制备C / C-SiC刹车复合材料的工艺和性能 李专,肖鹏,熊翔 粉末冶金国家重点实验室,中南大学,湖南长沙410083,中国(收稿日期:2009年8月12日修订:2009年8月28日;接受日期:2009年9月2日) 摘要:采用温压?原位反应法制备炭纤维增强炭和碳化硅双基体(C/C-SiC)复合材

翻译资料英语

FINANCIAL INNOV ATION Like other industries, the financial industry is in business to earn profits by selling its products. If a soap company perceives that there is a need in the marketplace for a laundry detergent with fabric softener, it develops a product to fit the need .Similarly, in order to maximize their profits, financial institutions develop new products to satisfy their own needs as well as those of their customers; in other words, innovation-which can be extremely beneficial to the economy-is driven by the desire to get (or stay) rich. This view of the innovation process leads to the following simple analysis: A chance in the financial institutions for innovations that are likely to be profitable. Starting in the 1960s, individuals and financial institutions operating in financial markets were confronted with drastic changes in the economic environment: Inflation and interest rates climbed sharply and became hard to predict, a situation that changed demand conditions in financial markets. Computer technology advanced rapidly, which changed supply conditions. In addition, financial regulations became especially inconvenient. Banking institution discovers many old ways of doing business being able to not have earned money again; they provide the masses finance with service and financial products sale neither well. Many financial intermediary is discovered they have no way to raise having arrived at a fund, but these self that will not a suspense of business right away with original tradition finance implement. For existing under new economy environment, research and development puts up banking institution be obliged to being able to satisfy customer need moreover the new product being able to gain a profit of and serving, this process is called financial engineering. In their case, necessity was the mother of innovation. Our discussion of why financial innovation occurs suggests that there are three basic types of financial innovations: Escapism to responding to needing condition change, to the small advantages supplying with condition change and to controlling. We have had one now understandable that banking institution is innovative for instance the cause institutions, let’s look at examples of how financial institutions in their search for profits have produced financial innovations of the three basic types. 1

外文翻译

Load and Ultimate Moment of Prestressed Concrete Action Under Overload-Cracking Load It has been shown that a variation in the external load acting on a prestressed beam results in a change in the location of the pressure line for beams in the elastic range.This is a fundamental principle of prestressed construction.In a normal prestressed beam,this shift in the location of the pressure line continues at a relatively uniform rate,as the external load is increased,to the point where cracks develop in the tension fiber.After the cracking load has been exceeded,the rate of movement in the pressure line decreases as additional load is applied,and a significant increase in the stress in the prestressing tendon and the resultant concrete force begins to take place.This change in the action of the internal moment continues until all movement of the pressure line ceases.The moment caused by loads that are applied thereafter is offset entirely by a corresponding and proportional change in the internal forces,just as in reinforced-concrete construction.This fact,that the load in the elastic range and the plastic range is carried by actions that are fundamentally different,is very significant and renders strength computations essential for all designs in order to ensure that adequate safety factors exist.This is true even though the stresses in the elastic range may conform to a recognized elastic design criterion. It should be noted that the load deflection curve is close to a straight line up to the cracking load and that the curve becomes progressively more curved as the load is increased above the cracking load.The curvature of the load-deflection curve for loads over the cracking load is due to the change in the basic internal resisting moment action that counteracts the applied loads,as described above,as well as to plastic strains that begin to take place in the steel and the concrete when stressed to high levels. In some structures it may be essential that the flexural members remain crack free even under significant overloads.This may be due to the structures’being exposed to exceptionally corrosive atmospheres during their useful life.In designing prestressed members to be used in special structures of this type,it may be necessary to compute the load that causes cracking of the tensile flange,in order to ensure that adequate safety against cracking is provided by the design.The computation of the moment that will cause cracking is also necessary to ensure compliance with some design criteria. Many tests have demonstrated that the load-deflection curves of prestressed beams are approximately linear up to and slightly in excess of the load that causes the first cracks in the tensile flange.(The linearity is a function of the rate at which the load is applied.)For this reason,normal elastic-design relationships can be used in computing the cracking load by simply determining the load that results in a net tensile stress in the tensile flange(prestress minus the effects of the applied loads)that is equal to the tensile strength of the concrete.It is customary to assume that the flexural tensile strength of the concrete is equal to the modulus of rupture of the

英文文献及中文翻译

毕业设计说明书 英文文献及中文翻译 学院:专 2011年6月 电子与计算机科学技术软件工程

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英文文献翻译

中等分辨率制备分离的 快速色谱技术 W. Clark Still,* Michael K a h n , and Abhijit Mitra Departm(7nt o/ Chemistry, Columbia Uniuersity,1Veu York, Neu; York 10027 ReceiLied January 26, 1978 我们希望找到一种简单的吸附色谱技术用于有机化合物的常规净化。这种技术是适于传统的有机物大规模制备分离,该技术需使用长柱色谱法。尽管这种技术得到的效果非常好,但是其需要消耗大量的时间,并且由于频带拖尾经常出现低复原率。当分离的样本剂量大于1或者2g时,这些问题显得更加突出。近年来,几种制备系统已经进行了改进,能将分离时间减少到1-3h,并允许各成分的分辨率ΔR f≥(使用薄层色谱分析进行分析)。在这些方法中,在我们的实验室中,媒介压力色谱法1和短柱色谱法2是最成功的。最近,我们发现一种可以将分离速度大幅度提升的技术,可用于反应产物的常规提纯,我们将这种技术称为急骤色谱法。虽然这种技术的分辨率只是中等(ΔR f≥),而且构建这个系统花费非常低,并且能在10-15min内分离重量在的样本。4 急骤色谱法是以空气压力驱动的混合介质压力以及短柱色谱法为基础,专门针对快速分离,介质压力以及短柱色谱已经进行了优化。优化实验是在一组标准条件5下进行的,优化实验使用苯甲醇作为样本,放在一个20mm*5in.的硅胶柱60内,使用Tracor 970紫外检测器监测圆柱的输出。分辨率通过持续时间(r)和峰宽(w,w/2)的比率进行测定的(Figure 1),结果如图2-4所示,图2-4分别放映分辨率随着硅胶颗粒大小、洗脱液流速和样本大小的变化。

毕业设计外文翻译资料

外文出处: 《Exploiting Software How to Break Code》By Greg Hoglund, Gary McGraw Publisher : Addison Wesley Pub Date : February 17, 2004 ISBN : 0-201-78695-8 译文标题: JDBC接口技术 译文: JDBC是一种可用于执行SQL语句的JavaAPI(ApplicationProgrammingInterface应用程序设计接口)。它由一些Java语言编写的类和界面组成。JDBC为数据库应用开发人员、数据库前台工具开发人员提供了一种标准的应用程序设计接口,使开发人员可以用纯Java语言编写完整的数据库应用程序。 一、ODBC到JDBC的发展历程 说到JDBC,很容易让人联想到另一个十分熟悉的字眼“ODBC”。它们之间有没有联系呢?如果有,那么它们之间又是怎样的关系呢? ODBC是OpenDatabaseConnectivity的英文简写。它是一种用来在相关或不相关的数据库管理系统(DBMS)中存取数据的,用C语言实现的,标准应用程序数据接口。通过ODBCAPI,应用程序可以存取保存在多种不同数据库管理系统(DBMS)中的数据,而不论每个DBMS使用了何种数据存储格式和编程接口。 1.ODBC的结构模型 ODBC的结构包括四个主要部分:应用程序接口、驱动器管理器、数据库驱动器和数据源。应用程序接口:屏蔽不同的ODBC数据库驱动器之间函数调用的差别,为用户提供统一的SQL编程接口。 驱动器管理器:为应用程序装载数据库驱动器。 数据库驱动器:实现ODBC的函数调用,提供对特定数据源的SQL请求。如果需要,数据库驱动器将修改应用程序的请求,使得请求符合相关的DBMS所支持的文法。 数据源:由用户想要存取的数据以及与它相关的操作系统、DBMS和用于访问DBMS的网络平台组成。 虽然ODBC驱动器管理器的主要目的是加载数据库驱动器,以便ODBC函数调用,但是数据库驱动器本身也执行ODBC函数调用,并与数据库相互配合。因此当应用系统发出调用与数据源进行连接时,数据库驱动器能管理通信协议。当建立起与数据源的连接时,数据库驱动器便能处理应用系统向DBMS发出的请求,对分析或发自数据源的设计进行必要的翻译,并将结果返回给应用系统。 2.JDBC的诞生 自从Java语言于1995年5月正式公布以来,Java风靡全球。出现大量的用java语言编写的程序,其中也包括数据库应用程序。由于没有一个Java语言的API,编程人员不得不在Java程序中加入C语言的ODBC函数调用。这就使很多Java的优秀特性无法充分发挥,比如平台无关性、面向对象特性等。随着越来越多的编程人员对Java语言的日益喜爱,越来越多的公司在Java程序开发上投入的精力日益增加,对java语言接口的访问数据库的API 的要求越来越强烈。也由于ODBC的有其不足之处,比如它并不容易使用,没有面向对象的特性等等,SUN公司决定开发一Java语言为接口的数据库应用程序开发接口。在JDK1.x 版本中,JDBC只是一个可选部件,到了JDK1.1公布时,SQL类包(也就是JDBCAPI)

材料英语翻译

①化学这门科学在当今世界非常有用。 ②y对于x的依赖关系用y=f(x)来表示。 ③各种物质的导热能力差异很大③各种物质的导热能力差异很大。 ④这个参数可以准确地加以测量。 ⑤半导体的导电率随温度的变化而变化。 ⑥原子能的恰当名称是核能。 ⑦工程材料的性质依赖于(取决于)它们的成分、结构、合成、加工。 ⑧材料科学与工程这个术语将材料科学与材料工程结合在一起,材料科学在材料知识谱的基础知识端,材料工程在应用知识端,两者之间并没有分界线。 ⑨材料的许多性质强烈依赖于其结构,即使材料的成分保持不变。这就是为什么材料中结构-性质关系或者显微结构-性质关系至关重要。 ⑩上面的两个等式极为重要。 The two equations above are of great importance. 十一.金属棒热端的分子随着那里的温度的增加而振动得越来越快。 Molecules at the hot end of a metallic rod vibrate faster as the temperature there increases. 十二.通常这些参数中有一些是已知的。 Usually some of these parameters are known. 十三.当温度低于临界温度时,电子能自由地通过晶格运动。 As temperatures below the critical temperature, the electrons move freely throughout the lattice. 十四. A随温度的这种变化主要是由B的变化引起的。 This variation of A with temperature is due primarily to variations in B. 十五.这种复杂的关系必须用图解来表示。 This complicated relationship must be representedgraphically. 十六.原子间的键合作用部分取决于原子的价电子如何结合在一起。键的类型包括金属键、共价键、离子键、范德华键。 十七.键能与键的强度有关,特别是离子键和共价键结合的材料键能很高。高键能的材料常常具有高的熔点、高的弹性模量和低的热膨胀系数。 ③许多陶瓷材料中发现的离子键是当正电性的原子失去电子给负电性的原子,产生带正电的阳离子和带负电的阴离子而形成的。

中文和英文简历和专业英语材料翻译

韶关学院 期末考核报告 科目:专业英语 学生姓名: 学号: 同组人: 院系: 专业班级: 考核时间:2012年10月9日—2012年11月1 日评阅教师: 评分:

第1章英文阅读材料翻译 (1) 第2章中文摘要翻译英文 (3) 第3章中文简历和英文简历 (4) 第4章课程学习体会和建议 (6) 参考文献 (7)

第1章英文阅读材料翻译 Mechanization and Automation Processes of mechanization have been developing and becoming more complex ever since the beginning of the Industrial Revolution at the end of the 18th century. The current developments of automatic processes are, however, different from the old ones. The “automation” of the 20th century is distinct from the mechanization of the 18th and 19th centuries inasmuch as mechanization was applied to individual operations, wherea s “automation” is concerned with the operation and control of a complete producing unit. And in many, though not all, instances the element of control is so great that whereas mechanization displaces muscle, “automation”displaces brain as well. The distinction between the mechanization of the past and what is happening now is, however, not a sharp one. At one extreme we have the electronic computer with its quite remarkable capacity for discrimination and control, while at the other end of the scale are “ transfer machines” , as they are now called, which may be as simple as a conveyor belt to another. An automatic mechanism is one which has a capacity for self-regulation; that is, it can regulate or control the system or process without the need for constant human attention or adjustment. Now people often talk about “feedback” as begin an essential factor of the new industrial techniques, upon which is base an automatic self-regulating system and by virtue of which any deviation in the system from desired condition can be detected, measured, reported and corrected. when “feedback” is applied to the process by which a large digital computer runs at the immense speed through a long series of sums, constantly rejecting the answers until it finds one to fit a complex set of facts which have been put to it, it is perhaps different in degree from what we have previously been accustomed to machines. But “feedback”, as such, is a familiar mechanical conception. The old-fashioned steam engine was fitted with a centrifugal governor, two balls on levers spinning round and round an upright shaft. If the steam pressure rose and the engine started to go too fast, the increased speed of the spinning governor caused it to rise up the vertical rod and shut down a valve. This cut off some of the steam and thus the engine brought itself back to its proper speed. The mechanization, which was introduced with the Industrial Revolution, because it was limited to individual processes, required the employment of human labor to control each machine as well as to load and unload materials and transfer them from one place to another. Only in a few instances were processes automatically linked together and was production organized as a continuous flow. In general, however, although modern industry has been highly mechanized ever since the 1920s, the mechanized parts have not as a rule been linked together. Electric-light bulbs, bottles and the components of innumerable mass-produced

引进外资外文翻译资料

河南科技学院新科学院 2013届本科毕业生论文(设计) 英文文献及翻译 Foreign capital inflows and welfare in an economy with imperfect competition 学生姓名:王艳杰 所在院系:经济系 所学专业:国际经济与贸易 导师姓名:侯黎杰 完成时间:2013年4月15日

Foreign capital inflows and welfare in an economy with imperfect competition Abstract:This paper examines the resource allocational and welfare effects of exogenous inflows of foreign capital in a general-equilibrium model with oligopolistic competition and unemployment. Although the welfare impact for the short run is ambiguous and dependent upon the strength of excess profits and scale economies relative to unemployment in manufacturing, in the long run additional inflows of foreign capital always improve national welfare with capital mobility. Hence, attracting foreign capital remains a sound policy for economies characterized by imperfect competition, scale economies,and regional unemployment. Keywords: International capital mobility; Imperfect competition; Welfare 1.Introduction The welfare effects of exogenous inflows of foreign capital in the presence of trade restrictions have been extensively studied. Brecher and Diaz Alejandro (1977) show that when imports are subject to tariffs, an introduction of fo reign capital inflows accentuates the tariff distortion and hence reduces national welfare if the import-competing sector is relatively capital-intensive. In contrast, Dei (1985) shows that when imports are restricted by quotas,foreign capital inflows in the presence of foreign-owned capital always improve welfare by depressing the rental and so lowering the payments to existing foreign-owned capital. Recently, Neary (1981), using a common framework for both tariffs and quotas, obtains more general results of foreign capital inflows; the welfare effect of such inflows depends crucially on whether foreign-owned capital exists initially in the home country. In addition, Khan (1982) and Grinols (1991) have examined the effects of foreign capital inflows for a generalized Harris-Todaro economy under tariff protection. Khan finds that the result by Brecher and Diaz Alejandro is still valid even in the presence of unemployment, whereas Grinols argues that increased foreign capital need not be detrimental to welfare if the opportunity costs of labor are sufficiently low. Noteworthy is that the models used by these authors are all based upon the premise of perfect competition along with constant returns-to-scale technology. Although perfect competition serves as a useful assumption in crystallizing theoretical insights, it nevertheless fails to depict many of the real-world phenomena. The real-world economy is characterized, to a large extent, by imperfect competition and economies of scale. The policy implications of imperfect competition and economies

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