PARETO HONOURING POVERTY REDUCTION

Policy reforms often pit the poor against the poor by triggering a fall in poverty for some but an increase in poverty for others. Aggregated national measures gloss over these fine patterns and pronounce ‘a reduction in poverty’– is such aggregation across poor individuals ethically permissible? Addressing this type of aggregation is a hard issue. This paper has made an attempt in that direction by outlining an axiomatically grounded aggregate measure of such gains or losses, duly giving more importance to the losses to a poor compared to the gains of another poor.     

Getting the Smaller Picture: Small‐Area Analysis of Public Expenditure Incidence and Deprivation in Three English Cities

This paper examines public expenditure incidence at small‐area level in cities. The motivations for such research are briefly reviewed. The article reports on an attempt at measuring public expenditure across the majority of programmes down to the level of Census wards and the actual results obtained for three urban local authorities in England. The relationship between spending, income and deprivation is examined overall and for particular spending programmes, using a number of approaches including regression‐based expenditure models. The conclusions suggest that spending is indeed targetted on poorer areas but raise questions about both the strength of this relationship and how best to measure deprivation and the need to spend.     

沃尔评价法在高校财务综合评价中的应用

市场经济的发展，推动了教育产业化的进程。高校必须按照市场经济的要求组织财务活动，因此，高校的财务活动也会面临财务风险问题。为避免财务风险，要求建立科学的财务评价分析体系，客观反映高校财务运行状况。沃尔评价法通常运用于工商企业的财务评价，但其评价原理也同样适用于高校的财务评价。本文通过研究高校财务活动的运行特点，构建了一套财务评价指标，并将沃尔评价法的原理运用到高校的财务评价中。     

人民币资本帐户对外开放的战略分析

东南亚金融危机的爆发 ,使我国对实现人民币在资本项下可兑换问题进行更加深入的思考成为必要。本文主要分析在实行资本项目下人民币可兑换的过程中为减少金融风险而必须注意的问题     

Convergence since the Second World War: Blind Alleys and Misplaced Expectations

Abstract

The gap in income between the richest and the poorest countries is very large and increasing. But as we probe deeper the picture becomes less clear regarding the facts and more so the conceptual basis of the analysis. The growing gap hides substantial progress in most welfare indicators for most of the world's population. The theory beyond the expectations of convergence seems inadequate, especially for the case of Sub-Saharan Africa.     

How better targeting of social spending affects social delivery in South Africa

Social spending has become a major tool of targeting resources to South Africa's poor. The poor now get considerably more than their population share of social spending, but the underlying distribution of income is so skewed that overall post-fiscal inequality has not improved much. Concentration ratios and curves show considerable shifts in social spending incidence in the period 1995 to 2006. However, the efficiency of that spending is low, resulting in limited social outcomes and consequently also limited gains to the poor from better targeting. This paper therefore calls for the South African policy discussion to shift to why the ever-increasing fiscal inputs and improved targeting of those inputs have not produced the desired social outcomes.     

建立和完善我国财政国库集中收付制度的探讨

就当前我国的情况来讲,建立和完善国库集中收付制度,有着十分重要的意义,是社会主义市场经济体制下公共财政的发展要求。在财政国库集中交付制度实施的过程之中,我国国库集中收付制度在具体的运行过程中还存在很多问题需要解决和完善。在实施过程中,要根据实际情况及存在的问题,借鉴国内外先借鉴国际通行做法和成功经验,结合我国具体国情,建立和完善以国库单一账户体系为基础、资金缴拨以国库集中收付为主要形式的财政国库管理制度。有利于进一步加强财政监督,提高资金使用效益,更好地发挥财政在宏观调控中的作用。     

Analysis on Balance Gap between Saving and Credit Account in China

In China, the balance gap of credit and saving account emerged in 1995, and its amount enlarged since then. By the end of Dec. 2005, with 28.7 trillion RMB saving balance and 19.5 trillion RMB gross credit account balance, the gap between saving and credit account was as large as 9.2 trillion RMB, which indicated a 67.8% of credit/saving ratio. Some believed this phenomenon was resulted from on one hand, the rapid growth of saving account; and on the other hand, relatively slower expanding of credit account. Some believed cooling down cash demand was behind the gap, while others claimed the balance gap caused dead capital and inefficiency service of saving account. In fact, the balance gap between credit and saving account might not necessarily relate to dead bank capital. And the phenomenon itself could not indicate the down-tendency of finance power that underlay economy. Nevertheless, it was liquidity not the balance gap should be regarded an index of capital situation in financial organizations. Therefore the balance gap between saving account and credit account could not be viewed as criteria against liquidity position. Solution of this problem should lay in boosting financial innovation among commercial banks, expending capital market and encouraging or permitting commercial banks as well as state-owed funds to enter share market and so on.     

Hungarian Privatisation Strategy and Financial Performance of Privatised Companies

This paper examines Hungarian privatisation strategy and the financial performance of privatised enterprises. The results suggest that Hungary has preferred privatisation by direct sales by a considerable margin, but has recently shifted towards share issues. Both types of sale have predominantly been gradual. Subsequent sales, however, confirm the government's intention to sell previously retained shares. An analysis of IPOs during 1990–1998 shows positive initial returns on Privatisation Initial Public Offers (PIPOs) and greater underpricing than for other IPOs. The long term returns of PIPOs are positive and they outperform other IPOs in all periods after the listing.     

高校基本建设财务管理和会计核算相关问题研究

近几年全国各高校进行了大规模的资产置换、新校区建设，新的基本建设形式给基本建设财务管理和会计核算提出了新的课题。通过对土地形成资产的会计处理、建设单位管理费的额度、借款利息进成本的时限、设备安装费的列支等问题进行的分析，以求准确反映建设成本，解决当今基建财务工作中出现的问题。