ACCOUNTING FOR DEVELOPMENT PROJECTS: THE ISSUES

Development projects are a major means of enhancing the economic capacity of developing countries, and of channelling multilateral and bilateral funds to them. While many aspects of development projects are covered by extensive literatures, their accounts are not. The accounts and financial management of development projects have been the subject of extensive criticism. This paper reviews the special characteristics of development projects which give rise to problems and discusses ways of overcoming them.     

世界银行批准两个中国项目

世界银行6月21日批准了两个中国贷款项目,总额为2．8亿美元。其中,农村贫困社区发展项目将帮助四川、云南两省和广西壮族自治区的18个县的最贫困农村人口改善生计安全,实现持续参与,而重庆小城市基础设施改造项目将帮助重庆市的新兴小城市和城镇提升基础设施服务的效率和效益。     

AN ECONOMIC ANALYSIS OF VALUE TO THE OWNER

This short paper applies the economists' concept of consumer surplus to the accountants' concept of value to the owner. It is shown that the two relevant concepts of consumer surplus - the equivalent consumer surplus and the compensating consumer - result in valuations that differ from the traditional Solomons, et al., analysis. This proposition is established by use of traditional neoclassical demand theory. It is also shown that whilst the analysis is essentially of a short run nature this is also true of the accountants' concept of value to the owner.     

2003年上半年经济金融形势分析及下半年形势预测

本文通过对2003年国际国内经济金融走势的分析与预测,提出2003年下半年,全球经济呈缓慢复苏态势。国际经济金融环境将影响我国出口增长放缓,进口增长加快,贸易顺差缩小;外汇储备稳定增长,保值问题日益突出;人民币汇率升值的可能性不大,但会加大汇率形成机制改革;SARS对外商投资的负面影响有限。下半年,我国经济仍将保持较快增长。经济工作将面临制止经济增长回落的短期目标和提高经济投资增长质量的长远目标间的矛盾。为此,宏观调控一方面将采取多项措施,努力保持经济增长的势头;另一方面将出台一些政策措施,纠正和抑制经济中的过热现象,以保证经济健康发展。     

DOMINANCE CRITERIA FOR THE RANKING OF PROJECTS WITH AN IMPERFECT CAPITAL MARKET

Dominance criteria are established for problems of choice between alternative discrete investments where financial markets have unequal borrowing and lending interest rates. In the general case, the necessary and sufficient condition for all investors to prefer cash flow Q to cash flow R under non-satiety, is that Q can be converted to a superior flow to R - element by element. Where negative arguments of the decision maker's utility function are prohibited, it is necessary and sufficient that realisable value for Q exceeds realisable value for R at all times. A four stage procedure completes the decision making process where no inter-project dominance exists.     

新提法：加快发展民营金融机构 增添经济建设正能量

＂作为一个新词,＂加快发展民营金融机构＂被列入了十八大报告中。可以看出,鼓励社会资金参与中小金融机构的重组改造、稳步发展各种所有制金融企业,是中央支持和鼓励非公有制经济发展、完善社会主义市场经济体制的一项重要政策,同时,它对优化金融机构体系结构、改善基层金融服务具有迫切而重要的意义。＂     

基于阳春区域经济特点的银行经营策略探析

近10年,阳春地区经济发展通过外来引进大项目及大企业,逐步完成了对原有产业的更新换代,虽然支柱产业没有发生根本性的改变,但经济发展主角逐渐由本土企业变为外来企业。近年阳春市主动融入阳江市“以海兴市、绿色发展”战略布局,立足阳春资源禀赋、比较优势、产业基础,科学谋划布局,精准定位发力,加快推动新型工业化、新型城镇化和生态旅游业、生态农业融合发展,奋力打造粤港澳大湾区宜居宜业宜游卫星城。突出以产业转移园作为招商引资的载体,抓好以商引商,重点发展钢铁、水泥、机电等支柱产业,同时加大与珠海香洲区合作的力度,积极完善上下游产业链,打造大湾区新型建材产业基地,重点培育发展原材料、装备制造、生物医药、食品加工等4个百亿级产业集群。但受新冠肺炎疫情的影响,阳春地区的经济发展速度等也出现了一些新情况。本文对在阳春地区目前及未来经济发展特点的大背景下,把准银行的经营方向,实现银行的经营目标进行了粗浅探析。     

AN ECONOMIC ANALYSIS OF VALUE TO THE OWNER: A REPLY

Wright's comment criticises a previous article by this author on two grounds: (i) the deprived owner of the asset was not allowed to replace it in the short run: and (ii) only two variants of the concept were considered. This reply argues that the original analysis is consistent with asset replacement in the short run and that the concept of value to the owner and its variants have been developed for special situations. When the concept is applied to accounting issues, such as periodic income measurement, it is shown to be artificial and at variance with the facts of the real world.     

AN ECONOMIC ANALYSIS OF VALUE TO THE OWNER: A COMMENT

While Ashton's analysis of the concept of value to the owner flows logically from his chosen assumptions, it does not invalidate the use made of that concept by accounting writers.     

对我国当前储蓄存量规模的经济分析

改革开放以来,我国居民储蓄持续稳定增长,到2003年9月居民储蓄存款首次突破10万亿元。经济理论界不少人士对此忧心忡忡,认为储蓄过多和增速过快影响消费与投资,需要通过调控手段分流储蓄存款。本文通过分析储蓄存量与人均储蓄、收入、消费、投资、存差等相关因素,认为我国居民储蓄存量并不多,要接近较高层次的小康水平,应在21世纪初十年左右的时间内达到全国城乡居民人均储蓄2万多元、总量20万亿~30万亿元;在政策上,只有努力扩大就业面,提高城乡居民预期收入,才是鼓舞全社会消费信心的有力杠杆;在理论上,过度渲染将储蓄资金驱入股市将潜伏巨大的金融风险。     

提升保险服务经济社会能力

十六大以来,中国保监会紧密结合保险业实际,抓监管,防风险,促发展,引领我国保险业取得了举世瞩目的成就。国务院也专门下发《关于保险业改革发展的若干意见》。在新农村建设、医疗体制改革、＂十二五＂规划编制,以及多部国家法律法规中,都对利用保险加强风险管理提出了明确要求,保险业已经成为社会影响广泛的行业。     

今年我国宏观经济形势与经济政策展望

本文回顾了去年宏观经济走势并对于今年的宏观经济形势和经济政策动向进行了展望.今年必须保持相对平稳的经济增长速度,考虑到当前并不具备高速增长的条件,因此经济增长目标不宜定得过高;财政投资在带动经济增长中将继续发挥重要作用,今年必须合理确定国债发行和财政支出的规模,提高财政投资的效率.在分析了当前货币政策决策和实施中面临的四大难题后,作者提出今年货币政策的实施必须在四个方面适时进行结构性调整,包括在利率调整时充分考虑商业银行承担的利率风险、灵活调整境内外币利率、促进本外币资金的协调运行、不失时机地推进利率市场化改革和完善准备金制度.