...rter (1980)所提出的锥形垂直整合 及准垂直整合外，还有合资(Joint venture)、日式的Keiretsu、及长期契约(Long-term contracts)。
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允许投资者使用土地，包括长达70年的长期契约，根据要求可再续约。
Use of land shall be permitted to investors, including long-term leases of up to a period of 70 years, renewable upon request.
在新制度经济学的视角下，当企业选择签订长期契约代替一体化经营时，可以采用显性契约和隐性契约两种方案。
From the perspective of new institutional economics, if a firm decides to take long-term contact instead of integration operation, both explicit and implicit contract can be available.
这些契约的隐含波动率最近几月迅速飞升(见上图)，显示出投资者对长期利率的信心摇摆。
The implied volatility of these contracts has shot up in recent months (see chart), indicating that investors are uncertain about long-term interest rates.
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