亚洲工厂及关联度分析

依据亚洲零部件贸易数据,作者采用了依存比率的方法对亚洲工厂的规模、工厂内部以及同美国之间的相互依存关系进行了研究。研究结果发现,亚洲工厂的规模超过北美洲和欧洲工厂,成为了世界上最大的工厂。亚洲零部件内部贸易额及比重超过了欧盟,这说明亚洲生产的一体化程度更高。从零部件进出口规模角度看,亚洲地区的经济体均高度依赖亚洲工厂的活动,而亚洲工厂对中国的依存度则最高,对日本的依赖程度只排在第三位,这说明中国是亚洲工厂的核心平台。美国在亚洲贸易中的重要性主要体现为中国的最终产品出口对美国市场存在严重依赖,而亚洲主要经济体对中国市场的出口已经超过对美国的出口,亚洲工厂对于美国的依赖程度并不高,远远低于亚洲工厂对中国内地和中国香港的依赖。相反,美国对亚洲工厂的依赖程度则远高于亚洲工厂对美国的依赖。     

A short history of global inequality: The past two centuries

Using social tables, we make an estimate of global inequality (inequality among world citizens) in early 19th century. We then show that the level and composition of global inequality have changed over the last two centuries. The level has increased reaching a high plateau around 1950s, and the main determinants of global inequality have become differences in mean country incomes rather than inequalities within nations. The inequality extraction ratio (the percentage of total inequality that was extracted by global elites) has remained surprisingly stable, at around 70% of the maximum global Gini, during the last 100 years.     

中国农产品内生技术性贸易措施：地位与效应

WTO框架下具有合理性的技术性贸易措施是中国农产品贸易领域实施管理的有效手段。文章利用频数比率对其进行量化研究,认为技术性贸易措施在我国农产品进口管理体系中已替代关税居于主要地位,但相应于地位的变化,其建设尚显滞后,限制效应较差。对此,文章从完善进口安全监管体制,加强标准认证和风险评估,建立进口环节技术性贸易措施分析系统及预警机制等几个方面提出相应建议。     

论我国商业银行不良资产处置存在的风险及法律对策

处置商业银行不良资产可以有效提高防范金融危机的能力,确保银行业稳健经营和可持续发展,但商业银行不良资产存在很大的法律风险。文章认为,防范商业银行不良资产处置风险应在立法层面上确立商业银行不良资产处置的科学理念,建立商业银行不良资产处置风险防范法律体系,完善相关法律法规和建立严格、科学的不良资产处置机制及责任追究制。     

从财政分权看我国地方政府发行公债的必要性

举债权是规范的分税制赋予地方政府应有的财权。在财政分权的框架下,一级政权,一级事权,一级财权是题中之义。本文首先从财政分权理论出发,指出发行市政债是地方融资平台的替代措施。     

供水项目贷款能力确定及其影响机理分析

通过对贵州省某大型供水工程贷款能力分析,得出了项目在多边界条件下合理可行的融资方案,揭示了供水项目融资结构与投资效果的内在规律。实践表明,对于常规融资项目,采用图表对比分析法、区间分析法具有典型代表性,可较为便捷、准确地确定项目最佳融资方案,可为金融机构、投资者在决策类似工程时提供参考,提高决策效率,增强决策说服力。     

农户林权抵押贷款意愿及其影响因素分析——基于林业生产性融资需求的视角

利用四川省5个省级集体林权制度改革试点县(区)32个村508个农户调查数据,运用Logit模型对农户林权抵押贷款意愿及其影响因素进行实证分析。研究表明,在现行林权抵押贷款制度安排下,农户的性别、受教育年限、是否担任过村干部、非农就业人数比重、是否获得过信用贷款、投资风险承受能力、林木林产品销售比例、是否与企业签订购销合同和政府的支持等因素对农户林权抵押贷款意愿有显著影响。     

关于林权抵押贷款贷款期限的探讨

从林农经济利益角度出发,运用经济分析和数学推理的方法,引入生物生长模型,在分析林木蓄积、林木资产价值和贷款资金的时间价值基础上,确立合理的采伐时间和最佳的采伐时间,进而确立可行的贷款期限和最低贷款期限、最佳的贷款期限。以马尾松为例,进行实际计算分析,得出可行的贷款年限为8～19年,8年为最低贷款年限,19年为最佳的贷款年限。     

江西省农村金融生态发展滞后现状、成因及其破解

良好的金融生态可以促进农村经济结构调整和经济增长方式的转变,增强资金的使用效率。文章结合相关的金融生态水平指标对江西省农村金融生态状况进行了一般性描述,并分析其发展滞后的原因,在此基础上演绎出相应的政策选择。     

Assessing time-varying stock market integration in Economic and Monetary Union for normal and crisis periods

In this paper, we examine the stock market integration process amongst 17 Economic and Monetary Union (EMU) countries from January 2002 to June 2013 over a normal period as well as for the Global Financial Crisis (GFC) and Eurozone Debt Crisis (EDC) periods. We classify the economies in three groups (A, B and C) based on their GDP to examine whether the economic size influences financial integration. Seven indicators are used for the purpose, namely, beta convergence, sigma convergence, variance ratio, asymmetric DCC, dynamic cointegration, market synchronisation measure and common components approach. The results suggest that large-sized EMU economies (termed as Group A) exhibit strong stock market integration. Moderate integration is observed for middle-sized EMU economies with old membership (termed as Group B). Small-sized economies (termed as Group C) economies seemed to be least integrated within the EMU stock market system. The findings further suggest presence of contagion effects as one moves from normal to crisis periods, which are specifically stronger for more integrated economies of Group A. We recommend institutional, regulatory and other policy reforms for Group B and especially Group C to achieve higher level of integration.