美元贬值对我国市场价格的影响与对策

2001年初至2008年2月底，美元贬值幅度高达66．4％。美元贬值会通过通货膨胀、成本推动和货币供给等多种路径，引起我国市场价格上涨。要有效应对美元贬值对我国市场价格的影响，必须始终坚持稳定物价的方针，对货币供给实行规模控制，控制人民币升值的预期，加大产业结构调整的力度。     

Impacts of Market Reform on Spatial Volatility of Maize Prices in Tanzania

Maize is one of the major staples and cash crops for many Tanzanians. Excessive volatility of maize prices destabilises farm income in maize‐growing regions and is likely to jeopardise nutrition and investment in many poor rural communities. This study investigates whether market reform policies in Tanzania have increased the volatility of maize prices, and identifies regional characteristics that can be attributed to the spatial price volatility. To achieve the objectives, an autoregressive conditional heteroskedasticity in mean (ARCH‐M) model is developed and estimated in this study. Results show that the reforms have increased farm‐gate prices and overall price volatility. Maize prices are lower in surplus and less developed regions than those in deficit and developed regions. Results also show that the developed and maize‐deficit regions, and regions bordering other countries have experienced less volatile prices than less developed, maize‐surplus and non‐bordering regions. Our findings indicate that investments in communication and transportation infrastructures from government and donor countries are likely to increase inter‐regional and international trade, thereby reducing the spatial price volatility in Tanzanian maize prices in the long run.     

Estimation of trade elasticities in the presence of trade barriers, multinationals and imperfect competition

Recent research highlights the role that multinational trading companies may play in impeding price transmission. In markets characterised by imperfect competition, an estimate of the partial elasticity of demand may be of limited practical value if no account is taken of the reaction of competitors. In this paper, we demonstrate the potential for market structure to affect price transmission and trade elasticities, and challenge the presumption that only government intervention can impact upon price transmission, with examples supporting why theory would suggest otherwise.     

森林旅游资源经营权市场化问题思考

森林是现今生态旅游的重要方面,我国森林旅游经过10多年的发展,已初具规模,但由于受到经营机制的限制,森林旅游业,尤其是地方性的森林旅游业发展出现了重重阻碍。文章从森林旅游资源经营权市场化,即所有权与经营权分离的可行性和必要性着手,对经营权市场化过程中涉及的双方权利义务、资源定价、价格程序等进行了有益地探讨。     

内部控制信息披露质量与资本成本

构建基于熵模型计量的内部控制信息披露质量指数,在此基础上,针对2008-2011年度上市公司内部控制信息披露的情况,实证检验了内部控制信息披露质量与资本成本之间的关系.检验结果发现,自2009年开始,内部控制信息披露质量越高的上市公司,在同等条件下的资本成本更低,这说明市场已经开始对内部控制信息予以足够的关注,意味着内部控制信息披露不仅给上市公司带来负担,也给上市公司带来潜在的利好.     

非保护价粮食收购资金供应与管理的思考

农业发展银行对国有粮食购销企业非保护价粮食品种提供贷款，在按照“库贷挂钩，以销定贷，以效定贷”的大原则下，还应遵循谨慎性、效益性、差异性原则，并要慎重选择支持的粮食品种。对非保护价粮食贷款实行商业化管理势在必行。     

定向增发对中小股东利益影响的因素及对策分析

论述了上市公司在定向增发前、增发中、增发后不同阶段,中小股东利益可能受到侵害的主要因素,从上市公司的内部因素和外部制度因素分析了定向增发中可能存在的利益输送问题。根据当前定向增发的新特点,对保护中小股东利益提出了对策与建议。     

How do income and education affect health inequality: evidence from four developing countries

Using household survey data from four countries ? Albania, Nepal, Tajikistan and Tanzania ? this article calculates income-related inequality in health care utilization. We measure health disparity separately for generally and chronically ill individuals by constructing two models: one for the probability of a visit to a physician and another for the number of visits. Following model-based measurements, we decompose inequality into two major parts: one accounted for by identity-related factors and another by socioeconomic and other factors such as education, geography and distance to a clinic. We propose a new method to quantify the effect of changes in income and education on health disparity. One of our important findings suggests that health disparity is pro-rich in all our sample countries. The pro-rich disparity is prevalent among generally ill as well as chronically ill patients, in both visit probability and visit frequency models. Health inequality seems primarily driven by income differences followed by nonidentity factors. Further, the principle of equal treatment for equal need is not fulfilled in any of our countries. Among policy implications, increasing average income and education in a way that also reduces disparity in income and education, respectively, will substantially shrink inequality in health care utilization.     

Monetary Policy and the Stock Market: Theory and Empirical Evidence

This paper gives a comprehensive review of the literature on the interaction between real stock returns, inflation, and money growth, with a special emphasis on the role of monetary policy. This is an area of research that has interested monetary and financial economists for a long time. Monetary economists have been interested in the question whether money has any effect on real stock prices, while financial economists have investigated whether equity is a good hedge against inflation. Empirical studies show that money can be helpful in predicting future stock returns. Empirical evidence also suggest that equity is not a good hedge against inflation in the short run but may be so in the long run. The short-run negative relation between stock returns and inflation can easily be explained by theoretical models. If the central bank conducts a countercyclical monetary policy this will result in a negative relation between inflation and stock returns, while if it conducts a procyclical policy we could observe a positive relation. According to both theoretical and empirical studies investors receive an inflation risk premium for holding equity.     

价格规制、煤炭资源与能源约束:最优开发路径试解

煤炭在国民经济具有重要的战略地位。煤炭资源可持续利用的成本核算构成要素和现阶段我国煤炭资源成本核算存在一些问题。政府必须对煤炭资源进行价格规制,使煤炭价格能充分体现煤炭产业科学发展的要求,形成煤炭资源可持续利用的价格机制。