The Bard of Savagery: Thorstein Veblen and Modern Social Theory

The hypothesis of this paper is that a detailed history of a specific location and period is more effective for isolating the important characteristics of institutions than studies which span multiple millennia across the globe. To illustrate this hypothesis, I examine three Italian city-states in the period between eleventh and sixteenth centuries. This was a time when the "commercial revolution" was underway in these city-states. As a result, there were institutional innovations in settlement patterns, work organization, and self-governing institutions to help provide for mutual defense and for the internalization of gains from long-distance trade. I contrast this case study with the methodology and findings employed by Douglass C. North, John J. Wallis, and Barry R. Weingast (2009) in Violence and Social Orders. Rather than analyze the importance of beliefs and the protection of property rights as in prior work of theirs, the authors here focus on the "Schumpeterian competition" between impersonal organizations as an effective institutional form to control violence. Moreover, the timeframe of their book extends to "all recorded human history." In contrast to North, Wallis, and Weingast's approach, I concentrate on Genoa, Florence, and Venice in an effort to explain more effectively the emergence of the public/private divide and the relationship between politics and economics in modern industrial society. Experimentation in medieval Italy in mediating conflict between newly emerging classes, innovating in public finance to support the military, and focusing on broad civic participation in the political process had a lasting impact on the development of the state as an institution.     

Thinking Like a Trader: The Impact of Neoliberal Doctrine on Habits of Thought

Neoliberalism has come out of the financial crisis unscathed. Moreover, it has further asserted its dominance over geopolitical discourse and ideology worldwide. I contend that neoliberal supremacy in the policy arena and upon domestic and international institutions has been largely uncontested because it has penetrated all aspects of life to the extent that it now represents what Thorstein Veblen referred to as “the modern point of view.” Understanding the global power of neoliberalism requires examining not only its well-established hegemony over institutions as social constructs, but also its impact on habits of thought as mental constructs. From a Veblenian perspective, I argue that the neoliberal doctrine generates habits of thought which legitimize the transformation of a marketoriented economy into a full-fledged market society. The impact of the normalization of the neoliberal mode of behavior may, in the end, worsen the fracture between nation and state and unravel the fabric of society by justifying fully detached, emotion-free, and self-centered actions that crowd-out pro-social behaviors and challenge any social conception of the common good.     

Brakes on Chinese Development: Institutional Causes of a Growth Slowdown

China has enjoyed spectacular economic growth since the 1980s. Economic models based on production functions typically suggest that China's rapid growth will continue at similarly high rates, but they ignore pressing structural and institutional constraints on its development. Among the problems identified in this paper, we point to an impending demographic shift that will greatly increase the number of economic dependents, the inadequate corporate legal foundation for indigenous private enterprise, and the discriminatory, defective and disruptive system of land tenure. These issues point to a pressing agenda of institutional reform to help China develop in future decades. Reforms have to concentrate on political structures, state efficiency, incentives to educate and train migrant workers, land tenure, and on private enterprise.     

The Differential Impact of Public and Private Governance Institutions on the Different Modes of Foreign Investment

This paper examines the respective impacts of public and private governance institutions on foreign direct and foreign portfolio investment inflows. We present two hypotheses: (1) there is a strong correlation between the quality of a country’s public governance institutions and the amount of foreign direct investment (FDI) received while the quality of its private governance institutions has no further discernible impact on this correlation; (2) there is a strong correlation between the quality of a country’s public governance institutions and the amount of foreign portfolio investment (FPI) received while the quality of its private governance institutions has a further positive impact on this correlation. Our findings, which are based on panel data analysis, show both hypotheses to be valid.     

我国地方性商业银行存款保险定价研究——基于预期损失定价模型的分析

随着我国经济和金融的不断发展,建立适合国情的存款保险制度已非常迫切。虽然存款保险制度存在逆向选择及道德风险,但是研究表明:合适的存款保险定价可以减少自身存在的问题,给金融机构的稳健经营带来更大保障。选择地方性商业银行作为研究样本,采用BP神经网络及D-S证据理论相结合的方法,用预期损失定价模型来计算存款保险费率,对这些金融机构的信用等级进行简单评定,并结合国内外相关经验给出预期损失率,从而得出存款保险费率。     

The Influence of Different Modes of Thought on Intercultural communication

Intercultural communication is not only a process dealing with languages,but also a shifting activity between different modes of thought.The similarities in modes of thought are the basis of transhting.However,there are many differences in modes of thought between Chinese and English users because of the distinctive features of the geographical and natural environment they live in.This paper is intended to discuss the influence of modes of thought upon communication through a comparative study of Chinese and English thinking patterns,Then,corresponding suggestions have also been presented in respect of increasing intercultural awareness,and developing their intercultural communicative competence.     

论跨国公司的社会责任——读霍肯的《商业生态学:可持续发展的宣言》有感

本文简要介绍和评述了霍肯的著作《商业生态学:可持续发展的宣言》的基本思想和主要观点,强调了解决商业与环境之间二元悖论问题的关键,在于设计、创造一个可持续发展的商业模式,使之能融入生态系统的可恢复体系中,并强调在这个过程中,企业"对社会负责"是一种自愿的行为。从霍肯的观点出发,笔者反思了跨国公司违背生态伦理的种种"罪行",提出必须以更为冷静、客观的态度来看待跨国公司,并提出了"拯救跨国公司=拯救人类自己"的主张。     

The Institutionalist Roots of Macroprudential Ideas: Veblen and Galbraith on Regulation,Policy Success and Overconfidence

One consequence of the global financial crisis has been to prompt debate over macroprudential regulation – meant to limit private risk-taking that threatens systemic stability. In this paper, we stress the roots of macroprudential ideas in the Institutionalist economics of Veblen and Galbraith in a way that highlights both unrecognised policy possibilities and underappreciated impediments to policy effectiveness, arguing in particular that regulatory success can breed overconfidence. First, we argue that while Veblen's views anticipated macroprudential arguments, they also obscured tensions between the technocratic acumen of policy ‘engineers’ and popular legitimacy. Second, we argue that while Galbraith's views similarly shaped the postwar Keynesian policy mix, they also echoed Veblen in underrating the potential for populist resentment of an intellectual ‘technostructure’. We conclude that while this analysis can be seen as highlighting an overlooked century of macroprudential debate, it also demonstrates the potential for technocratic overconfidence – which can eventually undermine policy legitimacy and effectiveness.     

制度改进的基本思维:演化动力和优化原则

新古典主义主要基于力量博弈解释制度变迁,但实际上促进制度变迁的因素有三类:一是社会力量结构的自发变动,二是社会力量结构的自觉变动,三是对制度本质的社会认知提高。其中,后两者都与认知有关,认知在非正式制度转化为正式制度中扮演着重要角色。同时,新古典主义主要基于效率原则设计社会制度,但实际上制度优化有两大原则:正义原则和效率原则。其中,正义原则是根本性的,制度的设立和完善必须体现不断深化的社会正义和应得权利。     

中国历史上大众食生活“和”思想：膳食平衡与健康

“和谐”与“均衡”思想是中国传统文化的精髓,体现在社会文化生活的各个方面,饮食文化自然不例外。中华民族传统食文化,把古老而有效的中医理论体系和人民大众日常生活中日积月累的生活经验相结合,注重膳食中的阴阳、寒热等各方面的平衡,以达到强身健体、延年益寿之功效。这与今天医学和营养科学角度所提倡的膳食平衡是不谋而合的。     

制度作为区位优势对中国吸引外商直接投资的影响——以引力模型为基础的实证分析

本文运用引力模型检验了中国的制度变量作为区位优势对中国吸引外商直接投资(FDI)的影响.实证分析结果表明,中国与投资国签署双边投资保护协定、文化因素、政策变量以及人民币贬值对中国吸引FDI具有正的显著影响,而中国的关税水平、知识产权保护程度、政府廉洁度对流入中国的FDI的影响在统计上不显著.     

中国近代研究经济思想史的方法论特点:以梁启超为例

梁启超是中国近代最早较为系统地研究中国古代经济思想的人。他的相关论著以西方经济理论为参照,为中国经济思想史学科的建立创造了条件。他的研究存在着观点跳跃和逻辑矛盾的现象,这种现象在此后中国经济思想的发展过程中仍然延续。文章在方法论的层面,从传统文化的角度对此进行了新的解析。     

The impact of formal financial inclusion on informal financial intermediation and cash preference: evidence from Africa

This paper examines the effect of formal financial intermediation (inclusion) on informal financial intermediation and the use of cash for economic activities. Using data from the Global Findex 2014, we examine whether the use of formal financial intermediaries reduces cash preference and the use of informal financial intermediaries. Our empirical results show that informal financial intermediation is positively associated with formal financial inclusion. This indicates that the relationship between informal and formal financial intermediation is complementary rather than a trade-off, which demonstrates the importance of informal finance plays in the financial system of Africa. Moreover, the use of formal financial intermediaries significantly reduces the preference for holding cash, implying that a robust financial system infrastructure has the potential of mobilizing excess liquidity in the informal economy of Africa for growth and development.     

京津城际高铁运营的综合影响力实证分析

京津城际高速铁路作为京津冀协同发展综合交通运输体系的重要组成部分,其作用越来越重要。进一步评估城际铁路客运产品和服务的综合影响力,提高运营与服务水平,实现与战略管理目标的有效对接显得尤为重要。基于现阶段区域经济的特点来研究城际高速铁路的运营管理影响力;通过对区域经济的关联影响力分析,研究影响运营管理的内外关联因素。对完善我国高速铁路网络发展规划和运营管理模式的创新设计,以及服务区域经济协同性发展具有参考价值。     

股权结构与公司绩效关系研究综述——基于内生性和动态性视角

国内外有关股权结构与公司绩效关系的研究文献非常丰富,但这些文献绝大部分都先验地把股权结构作为外生变量来处理,认为二者是从股权结构到公司绩效的一种单向静态关系。在这种假设下,得出的结论与观察到的事实并非一致。股权结构不是一个独立外生变量,而是包括绩效在内的多种因素共同作用的均衡结果。它不仅受当期和上期绩效的作用,同时也可能对当期和下期绩效产生影响,即股权结构不仅是内生的,而且还是动态的。本文综述了国内外目前在这方面的最新研究成果。     

订单农业生产方式对生态环境的影响分析——以新疆玛纳斯县为例

本文以新疆玛纳斯县为例,从成本收益比较、农业结构变动、景观生态变化三个方面分析了订单农业生产方式对区域生态环境的影响,认为订单农业生产方式对区域生态环境的作用是双重的。在利用订单农业生产方式推动地区农业经济发展的同时,应充分考虑地区水土资源和生态环境的保护,在当地水土资源承载能力之内实现订单农业与生态环境的协调发展。     

工业产业集聚对经济高质量发展的影响——以环境规制为调节变量的研究

基于外部性理论,利用2009—2017年中国省际面板数据并运用空间杜宾模型,从全样本和区域分样本两方面探讨了工业产业专业化集聚与相关多样性对经济高质量发展的影响。研究发现：中国省际经济高质量发展指数呈不断上升趋势,且存在空间相关性和空间溢出性,分别呈现出“一损俱损”“荣辱与共”“一荣俱荣”的城市群特征;工业产业专业化集聚和相关多样性对经济高质量发展都有影响,且环境规制在其中起到了调节作用,但对于不同的研究样本,作用效果存在差异;对于处在“一损俱损”“荣辱与共”阶段的城市群,应聚焦主要问题,通过发展主要方面,促进经济高质量发展并向“一荣俱荣”城市群转变。     

我国民营与国有上市公司投资价值的比较研究

鉴于学界在民营与国有上市公司的绩效、治理结构和投资价值上存在较大的争议,本文对2000年底前上市的1 026个公司在2001-2003年间的数据进行了全面的比较分析,发现:(1)民营上市公司的投资收益和账面值-市值比显著小于国有上市公司,因此具有较低的投资价值.(2)与国有上市公司相比,民营上市公司的盈利能力、发展潜力、资本运营能力和尝债能力均较低,但其股权结构较为分散,而且其经理层激励方式与国有上市公司差别不大.(3)民营上市公司投资价值较差的根源在于其盈利能力、发展潜力和资产运营能力较低.(4)与杨兴君、苏启林及张俊喜和张华的实证结果不同,民营与国有上市公司在股权结构、经理层激励、企业规模及地理位置上的差别无法解释两者投资价值的差异.在上述实证结果的基础上,本文提出了相关的政策建议.     

The Impact of Power Equality,Income, and the Environment on Human Health: Some Inter‐Country Comparisons

Economic studies on environmental degradation generally have a narrow focus on per capita income as an explanatory variable, and often fail to distinguish among the various types of environmental quality or damage. This paper addresses both problems by examining the effect of relative equality in the distribution of power on environmental outcomes, and making a clear distinction between health‐related environmental outcomes and so‐called ‘environmental amenities,’ only the latter of which should correlate strongly with income. This paper introduces a national index of power equality that is derived from related socioeconomic variables, and studies its effects on individual country achievement in addressing environmental quality and population health. This model is applied to a data set of 180 countries, as well as to subgroups of the entire country set. Employing disability‐adjusted life expectancy and the population child mortality rate as two health proxies, this paper finds that power equality in most cases positively influences population health, and that power equality is in every case no worse and in some cases better than per capita income at explaining population health.     

中国新型农村金融机构空间分布与扩散特征

在新型农村金融机构静态空间分布基础上,以"金融密度"为衡量指标,考察2007—2018年新型农村金融机构空间分布与扩散特征,结果表明:①新型农村金融机构空间分布呈整体分散但相对集中状态,从形式上覆盖了31个省份,但实际覆盖空间非常狭小。②基于ArcGIS的村镇银行经济金融密度、人口金融密度和地理金融密度分析发现两个突出的空间扩散特征,一是新型农村金融机构虽然大部分在中西部地区,但空间分布存在省级差异和地区不均衡;二是它们基本遵循从经济发展水平较好地区向经济发展欠佳地区、人口密度较大到人口密度低地区等空间扩散路径,但在面积相等条件下,人口密度、基础设施、信用体系、运营成本与金融风险等因素导致这一扩散路径逆转。③最后结合金融科技趋势,提出政策层面适度调整农村金融发展思路,将重心调整至"数字金融"探索改善金融可达性的建议。