对金融机构救助的反垄断法思考

金融危机中很多金融机构面临经营危机或倒闭破产,迫使监管部门对金融机构实施援助,但救助对象多是"太大不能倒"的金融机构.该行为是否与反垄断法的基本理念相冲突,是否会破坏金融市场的公平竞争秩序等问题,值得我们深入研究与探讨.基于在危机时期维护金融稳定的目的,政府及监管机构对特定金融机构救助是存在合理性和必要性的,但救助的同时不能忽视反垄断执法,在金融监管的同时也应强调竞争性监管.对于我国来说,建立存款保险制度是实现金融业充分公平竞争的制度保障.     

技术创新与我国反垄断立法

从技术经济和产业组织的角度观察,企业技术创新除了高知识性、高不确定性和高沉没成本外,溢出性是其重要特征之一.本文提出在我国的反垄断立法中应采纳动态竞争而非静态竞争的思想;对与技术创新相关的企业合并采取创新市场分析而非产品市场分析,从创新要素投入而非创新产出的角度评价;正确处理保护知识产权和反垄断的均衡关系,为我国企业技术创新营造一个良好的市场经济环境.     

横向兼并、福利增进与反垄断政策

在对企业横向兼并行为的反垄断审查中,存在两个重要指标:市场份额与产业集中度。本文将企业横向兼并行为的三种反垄断判断标准(福利标准)归纳为两种福利增进情况。并且,根据这两种福利增进的情况,建立均衡福利模型,得出实现福利增进所必须满足的市场条件,从而做出更加明确的反垄断判定。结合我国新出台《反垄断法》后第一起也是唯一的一起兼并失败案(可口可乐兼并汇源失败)进行分析,并基于我国反垄断现状和模型结论,提出相关建议。     

Antitrust Enforcement and Non-Enforcement as a Barrier to Import in the Japanese Automobile Industry

Foreign automobile manufacturers long have found it difficult to compete in the Japanese automobile market. For decades, governmentally imposed restraints prevented foreign manufacturers from gaining a foothold in the Japanese market. In recent decades, these governmental restrictions have been replaced by private restraints which create equally formidable barriers to entry. Many private restraints persist despite repeated informal investigations and administrative guidance by the Japan Fair trade Commission (JFTC). The endurance of these private restraints raises the question of what mechanisms may be available to make the Japanese automobile market more contestable. While vigorous and transparent enforcement of Japan's Antimonopoly Law by the JFTC is the preferred mechanism, other mechanisms for alleviating these private restraints include the extraterritorial enforcement of U.S. antitrust laws by U.S. antitrust enforcement authorities, mediation by the OECD or the enforcement of an international competition code in an international forum.     

Robust political economy: The case of antitrust

The notion of robust political economy is applied to antitrust. It is argued that the universalizability of policy rules is crucial if both the knowledge problem and the incentive problem in antitrust are taken seriously. Policy recommendations of Williamson are compared with those of Hayek. It is further argued that the notion of universalizability is central not only with regard to antitrust but also with regard to a host of other policy areas. JEL Code B52, B53, D02, D80, K21, K40, L40. The author thanks his collaborators Lorenz Blume, Kim Eun Young, Janina Satzer and Michael Seebauer as well as Anne van Aaken for helpful comments and suggestions.     

国际反托拉斯政策协调的差异及路径选择

在反托拉斯政策的许多方面，美国与欧盟的处理方法存在很大差异，并且只要反托拉斯政策的目标不同，主要问题就没有办法达到统一。加强反托拉斯政策领域国际间合作所面临的问题在于，集权化到何种程度才是最为合适的，故应对此进行深入研究。     

The Importance of Monitoring and Mitigating the Safety-Net Consequences of Regulation-Induced Innovation

To be effective, programs of regulatory reform must address the incentive conflicts that intensify financial risk-taking and undermine government insolvency detection and crisis management. Subsidies to risk-taking that large institutions extract from the financial safety-net encourage managers to make their firms riskier, harder to supervise, and politically and administratively more difficult to fail and unwind. Except in the very short run, repealing the Gramm-Leach-Bliley Act or breaking up so-called too-big-to-fail institutions will do little to arrest subsidy-induced activities. Rebuilding Glass-Steagall barriers between banking, securities, and insurance firms would instead make implicit taxpayer support of large institutions less transparent and serve foreign interests by encouraging conglomerate firms to operate affected businesses through foreign subsidiaries. To discourage financial institutions from abusing safety-net support, government supervisors must be made specifically accountable for delivering and pricing safety-net benefits fairly and efficiently. If it wants to make the system more stable, Congress should focus on: rewriting top officials' oaths of office; changing the ways top officials are recruited, trained, and compensated; reworking the ways they measure and report regulatory performance; and changing the kinds of securities that large institutions have to issue.     

The Mind of the Social Individual: A Comment on Sherman and Hodgson

In the Spring 1998 (56(1): 47-57) and Fall 1998 (56(3): 295-306, 307-310) issues of this review, Howard Sherman and Geoffrey Hodgson debated, inter alia , the extent to which Veblen-Ayres institutionalism is compatible with Marx and recent Marxist work. This paper argues that the differences between Hodgson and Sherman"s positions do not rely on assumptions of "illogical" behavior, individualist arguments or structural conceptions of the individual. Instead, the debate turns on the authors' respective conceptions of the formation and role of the human mind in what it is to be a social individual.     

企业独占交易策略的基本理论及其反垄断政策意义

独占交易是产业链上游制造商对下游零售商实施纵向控制的一种策略行为.本文对独占交易的理论进展进行了回顾,阐述了独占交易的基本理论,分析了独占交易的市场圈定效果和对社会福利的影响,为反垄断立法和执法提供一定的理论依据.     

The Origins of Entrepreneurial Opportunities

Kirzner's (1973) theory of entrepreneurship emphasizes the equilibrating role of entrepreneurship. When the market is not in equilibrium, profit opportunities exist, and entrepreneurs discover and act on these profit opportunities to equilibrate the market. Because Kirzner focuses on entrepreneurial actions when profit opportunities exist, and does not describe where they come from, one could imagine a fixed stock of profit opportunities that get used up as entrepreneurs discover them. But new profit opportunities are being created constantly. A taxonomy of the origins of entrepreneurial opportunities includes factors that disequilibrate the market, factors that enhance production possibilities, and most notably, opportunities created from previous acts of entrepreneurship. Entrepreneurial actions do not use up profit opportunities, but create them, and the critical role of entrepreneurship in the creation of new profit opportunities is emphasized. This line of reasoning leads directly to policy implications regarding the economic environment conducive to entrepreneurial discovery and the role of government in research and development. This paper enhances Kirzner's theory of entrepreneurship by illustrating how entrepreneurship enlarges the stock of future entrepreneurial opportunities, and points to entrepreneurship as the engine of economic progress.     

民主的四大渊源

当代最卓越的民主理论家之一的罗伯特·达尔认为,现代民主的理论和实践有四大渊源：希腊的直接民主制、罗马与中世纪、文艺复兴时期意大利城市国家的共和主义、代议制政府的理论与实践,以及政治平等理念。本文对这四大渊源作一评介。     

协同效应、合资公司的稳定性及其福利影响

合资公司是介于市场交易和兼并之间的一种企业组织形式,它的存在会产生多种影响。一方面,合资公司中的协同效应有利于效率的提高,增进社会福利;另一方面,成立合资公司也会导致相关企业市场势力的上升,损害福利。通过一个零售合资企业模型,本文发现实际上这两个方面之间是彼此相关的。具体地,若没有协同效应,则不存在一个可行的利润分配原则和生产配额使得相关企业有意愿加入合资公司,进而无法达到增强市场势力的目的。基于这种关联性,本文给出了针对零售合资公司的反垄断政策建议:在高营利性行业中,当市场集中度较高时,应适用合理性原则;相反,当市场营利性较差或集中度较低时,需采用本身合法原则。     

环境社会学的理论起源与发展

环境社会学于19世纪70年代在美国诞生,与早期美国环境社会学家的努力密不可分.卡顿和邓拉普对“环境社会学”的概念和内涵进行了界定,区分了“环境社会学”与“环境问题的社会学”,并提出了“新生态范式”,为环境社会学成为社会学的显性分支学科奠定了基础.其他社会科学的研究,诸如社会生态学、生态女性主义和深层生态学都为环境社会学的诞生提供了重要的理论起源.从环境问题产生的系统原因,环境问题造成的社会后果,人类社会对环境问题的反应等三个方面可以把美国环境社会学的主要研究方向分为九个方面.美国环境社会学的起源及其主要研究方向对我国环境社会学的发展具有重要的启发和借鉴意义.     

Antitrust reform: Predatory practices and the competitive process

Conclusion This article has suggested that the general theory of predatory practices is seriously flawed. Predatory behavior cannot be logically distinguished from benign competitive behavior either by intent or by any price-cost rules. Price reductions, selective or otherwise, and various nonprice rivalrous strategies (such as advertising and innovation) are all part and parcel of a competitive market process. This process serves an important social purpose: it serves to discover the products and services that consumers prefer, and the business organizations that can provide those products and services. Antitrust regulation of this process is based on inappropriate equilibrium theorizing, and it serves only to inhibit the discovery of consumer preferences and the flow of resources from less efficient suppliers to more efficient suppliers. Thus, the legal restriction or prohibition of any competitive practice is inappropriate and appears contrary to the newer antitrust reform attitudes.     

Origins and Development of the EU ETS

The successful creation of the European Union Emissions Trading Scheme (EU ETS) was not inevitable. Countries such as Canada and Japan which might be thought to have a less complex and more cohesive cultural and institutional context failed to do so. Europe succeeded for a number of reasons: with a Single Market for the economy, the logic of a single market for environment is inexorable; the European Commission—which had failed in its earlier efforts to introduce a carbon energy tax—made the case for trading with great skill and persistence, on the basis of qualified majority voting, which meant no country had a veto; the UK and Denmark initiated their own national schemes, and there was a serious risk of balkanising the market with up to 27 different schemes, with the losses of scale and scope this would entail; meeting the Union’s Kyoto commitments required a substantive pan European response, and EU ETS was the most credible and effective way of doing so. The European Parliament and Environmental Non Governmental Organisations played a constructive role, pushing for more auctioning of allowances and less of them, allocated centrally. Free allocation managed by Member States (MS) was a necessary condition to achieve the support needed, so they failed to achieve these objectives in the initial phase, but they characterize the Commission’s proposals post 2012.     

The Origins of the State from Reciprocity to Coercive Power

This paper attemptsto explain the process of emergence of the state. It argues thatmorality is the first institution created by human beings tomaintain social order. But social order based on morality breaksdown when the human group becomes too large. When that occurs,most groups tend to split. Some groups, however, are able todevelop a hierarchical structure that allows them to escape thatfate. Political leadership is described as the result of a socialcontract. It is argued that this contract undergoes an essentialchange along the process of consolidation of statehood. At someinitial stage, it can be regarded as a consent contract,but, later on, it becomes a duress contract. This processis related to three main causes: population growth, increasingeconomic interdependence and geographic confinement. Other topicsdiscussed in the paper are the origins of private property rights,the emergence of autocratic governments, and the origins of democracy.