美国金融危机对中国银行业的影响、挑战及对策

席卷全球的美国金融危机对全球实体经济的影响日益加深,原本远离风暴中心的中国银行业也开始受到影响。本文分析了金融危机对中国银行业的影响及挑战,并提出了中国银行业应对金融危机的对策。     

香港、新加坡和上海国际金融中心的比较研究

本文以金融中心的功能定义为基准,以金融发展理论为基础,以金融系统功能分析为思路,对香港、新加坡和上海国际金融中心功能进行比较分析,探寻上海的比较优势和劣势。得出结论:从历史和现实来看,香港和新加坡在金融系统功能的诸多方面都超越上海,上海只是在商品期货方面处于领先地位;上海的最大优势之一是它和伦敦、纽约、东京一样有着强大的国家经济体作为后盾,近几年发展态势良好,有实现跨越式发展的能力:开放型、多功能是构建上海国际金融中心的趋势和方向。     

The meaning of “social safety nets”

In Southeast Asia, the issue of “social safety nets” (SSNs) has emerged more prominently since the financial crisis. Despite the increased interest in social safety nets, there is still considerable confusion among scholars and national and international organizations regarding the use and meaning of the term. This article considers the different definitions of the term—particularly as it was used during the Asian Financial Crisis—and to attempt to clarify its meaning and proper use.The safety net analogy is drawn from high-wire walkers who are protected by a safety net if they fall. The safety net prevents any walker who falls—unexpectedly or not—from hitting the floor and incurring catastrophic injuries. Following this line of reasoning, it is not surprising to learn that some organizations and scholars use the term SSN such that it encompasses private and public mechanisms that assist individuals in maintaining a minimum level of consumption.The term “social safety net” (SSN) began to be used by Bretton Woods’ institutions in connection with structural adjustment programs related to their lending programs. Developing countries introduced SSNs to mitigate the social impact of structural adjustment measures on specific low-income groups. They were initially formulated to serve three objectives: poverty alleviation, to make adjustment programs more politically acceptable, and institutional reform. During the Asian Financial Crisis, there was a great deal of confusion regarding the content and consequent identification of SSN programs.Public SSN programs can be classified into formal and informal safety nets. Formal and informal safety nets are, generally, distinguished by law enforcement: formal safety nets are those which legally guarantee individuals access to economic or social support whereas informal safety nets provide likelihood of support to individuals to assure them of attaining or remaining above the designated minimum standard of living but with no legal guarantee.Informal SSNs can be divided into private and public ones. Examples of private informal SSNs include transfers from family members, friends, neighbors and community members and institutions, including NGOs, while those of public informal SSNs refer to the support which individuals can hope for from the government, through programs which generate assets or employment, transfer income, or provide basic social services, as a means of helping affected individuals from falling below the designated minimum standard of living. The difference between formal and informal public SSNs is whether there exists a formal legal support of the assistance.The article has provided more discussion on the definitions of SSN used by the World Bank, ESCAP, ILO and TDRI.In conclusion, the authors note that the tremendous variation in the use of the term invites confusion and makes it virtually useless as a technical concept. The very nature of the metaphor invokes a vision of a large net that encompass a number of different types of programs. In many cases it is not even possible to list specific programs that are included, as the particular forms of these programs could, of course, vary with place, time and circumstances. Complicating things further, the term is sometimes used in a very narrow sense. Given the low probability that usage of the term will ever be standardized, economists and national/international organizations might be well served by avoiding the term completely and instead using its component parts.     

金融普惠可以提高减贫质量吗?——基于多维贫困的分析

切实提高减贫质量对我国打赢打好脱贫攻坚战和守住脱贫成果至关重要。金融普惠作为当前我国金融改革和脱贫攻坚的重要举措,是否有助于提高减贫质量仍是有待回答的问题。文章基于中国家庭金融调查2015年数据,从多维贫困和多维贫困脆弱性两方面出发研究了金融普惠对我国农村减贫质量的影响。研究发现,金融普惠可以同时降低农村家庭多维贫困和多维贫困脆弱性,并且对多维贫困问题严重的农村家庭有更大的作用;区分不同贫困和不同金融服务发现,金融普惠可以显著降低收入贫困、教育贫困及生活质量贫困,对健康贫困的影响则不显著;银行营业网点与金融服务点渗透、以及储蓄、贷款、保险及数字金融服务使用可以提高减贫质量,而其他金融机构渗透、信用卡使用及银行服务评价的作用相对有限。进一步地,文章研究了金融普惠减贫质量效应的环境条件,发现村庄市场及制度环境和家庭需求环境改善有助于充分发挥金融普惠的积极作用,相反则可能构成一定的制约。最后,文章检验了金融普惠的影响机制,发现促进农村家庭人力与物质资本积累、以及地区经济发展等在其中发挥了重要的中介作用。文章结论为我国提高减贫质量提供了可靠的政策工具,同时也可促进我国全面建成小康社会和经济实现...     

打击“地下钱庄”与非法金融活动的遏制

在我国金融体系逐步健全、市场经济法制逐步完善的大背景下,非法金融活动却屡禁不止,甚至目前更为盛行、猖獗,是非常值得研究和探讨的现实问题。目前,"地下钱庄"是非法金融活动的主要形式,它们彼此助长、相互渗透。因此,建立、健全打击"地下钱庄"的法律法规体系将有利于有效遏制非法金融活动,同时防范和惩治非法金融活动也将有助于打击"地下钱庄"所从事的非法业务。     

泡沫经济破灭前后日本银企信用风险管理制度及其功效分析

战后,日本金融体系效仿欧美国家建立起一系列信用风险管理制度。同时,根据市场主导型金融市场的特点,逐步建立起具有自身特点的信用风险管理制度。日本银企信用风险管理制度包括商业银行的内部控制制度、银行风险防御及挽救制度、商业银行外部监管制度。通过对日本银企信用风险管理制度的功效进行剖析,可以看出这一制度存在局限性并与日本的泡沫经济、金融危机、金融效率存在内在关系。     

Basel-II: International Competition Issues

Basel-II has been thoroughly discussed, both in Europe and in the US. While the discussion several years ago focused mainly on the expected cost due to the implementation of Basel-II on the individual bank level, the recent discussion pays increasing attention to international competition issues, as Europe is implementing the new capital accord rather quickly, while in the US there is significant doubt, whether Basel-II might cause severe disadvantages. This article highlights some topics, which may be important to assess the overall competition effects of Basel-II. Surprisingly, there are relatively few features of Basel-II that might lead to major disturbances in international competition, even if Basel-II will be implemented by some countries, while others choose not to do so.      

银行业跨国并购的协同效应与金融服务贸易自由化

20世纪90年代以来,随着金融全球化的不断深入和发展,金融业发生了席卷全球的第三次银行并购浪潮,银行业跨国并购活动大量出现,这既给我国金融服务贸易自由化创造了机遇也带来了挑战。本文分析了银行跨国并购的协同效应及其对我国金融服务贸易自由化影响。     

日本银行产业全球竞争力的演变分析

20世纪70-80年代,日本银行产业的国际竞争力持续、快速、稳定地提升,但从20世纪90年代开始,日本银行产业国际竞争力又显著地衰落。从1996年的桥本内阁开始,日本政府对银行产业实行了大规模的改革与重建,有迹象表明,日本银行产业的国际竞争力得到了一定的恢复,但已经不可能重拾20世纪80年代的强势。     

Is the development of the agro-processing industry pro-poor?: The case of Thailand

We examine how the development of the agro-processing industry contributed to poverty reduction in Thailand. The effects on farmers’ income are emphasized because most of the poor in Thailand are farmers. The development of the agro-processing industry could improve farmers’ income through two channels: (i) the purchase of agricultural products; and (ii) the employment of the poor farmers at factories. We show that the development of the agro-processing industry, which also played a leading role in the high economic growth of the Thai economy, contributed to poverty reduction through both of the two channels. It was hence pro-poor.     

The relationship between revenue diversification and bank performance: Do financial structures and financial reforms matter?

This paper contributes to the existing literature by investigating the impact of revenue diversification on bank performance through a broad array of financial reforms, including credit controls, interest rate controls, entry barriers, banking supervision, privatization, and financial account restrictions. This analysis is the first to investigate whether financial structures (bank- or market-based systems) change the effect of diversification on individual bank performance. We use a panel dataset sample from 29 Asia-Pacific countries covering the period between 1995 and 2009, for a total of 2372 banks. Unlike the results of previous studies based on data from the U.S. and Europe, this study confirms the hypothesis of the portfolio diversification effect for the Asia-Pacific banking industry. For bank-based groups, bank performance can be improved through diversification, supporting the “bank-based view” hypothesis. Finally, under different financial systems, the relationships among revenue diversity, financial reforms, and bank performances are multidimensional.     

后金融危机时代农民工权益贫困化与出路的深层次思考

后金融危机时代农民工权益贫困化问题凸现,其实质是合法权益实现的贫困化。用权力行为的公正维护农民工合法财产权益,体现制度优越性;用劳动的正义捍卫体面劳动,实现劳动权益的合法性;用人权的神圣捍卫农民工自我发展权,体现和谐社会"以人为本"的价值理念。这需要在机制改革、制度建设与政策调整上的政治共识和政治智慧。     

社会资本在减轻农村贫困中的作用：文献述评与研究展望

近年来,社会资本在减轻农村贫困中的作用逐渐成为发展经济学家关注的一个热点。本文分别从静态和动态两个视角综述了相关研究的思路和方法：从静态视角来看,信任对于减少绝对贫困有积极的作用,但某些形式的社会资本难以减轻绝对贫困,关于社会资本是否能减轻相对贫困则尚未取得一致的认识;从动态视角来看,社会资本通过非正式保险的机制平滑消费、减轻暂时贫困,通过促进融资和创业、保护产权、促进公共品提供和劳动力流动,有助于消除长期贫困。总的来看,随着市场化进程的深入,社会资本反贫困的积极作用有减弱的趋势。本文基于理论评述,提出了深化社会资本的减贫理论机制（尤其是对相对贫困的作用机制）、市场化进程中的社会资本反贫困机制、改进社会资本测量、加强因果效应识别等未来的研究方向。