The Impact of Labor Market Regulations

This article investigates the impact of labor market regulationsin a setting with incomplete compliance. It takes as its startingpoint the limited evidence regarding the distortionary costsof labor market regulations and argues that there may existnatural limits to the efficiency losses engendered by such regulations.The article reviews some stylized facts regarding labor marketbehavior, presents an analytical model that may explain suchbehavior, and provides a checklist for assessing the distortionaryimpact of regulations such as minimum wages.     

集体建设用地流转的法律规定及对其价值评估的影响

随着国家经济建设的发展,对集体建设用地流转的需求越来越多.由于以前国家限制集体建设用地使用权的流转,大多数流转都是在隐性市场中发生.     

The Impact of Two-Tier Producer and Consumer Food Pricing in India

India's government buys wheat, rice, and sugar at below themarket price and then sells it in ration shops in the urbanand rural areas. The rest is sold in the open market. This createsa two-tier price system for consumers and producers. Supportersof the government's procurement policy claim that it raisesthe open-market price so much that it increases the sales-weightedaverage of the rationed price and the open-market price; inthat case, both the farm sector as a whole and low-income urbanconsumers with access to the ration shops gain, and high-incomeurban consumers who buy at the open-market price lose. Thisview has provided an intellectual basis for the policy. This article examines a variety of cases: with and without rationing;with rationing through ration cards or queuing; with and withoutaccess by the urban rich to the ration shops; with or withoutfree trade; and with a marketable surplus having either positive,negative, or zero price elasticity. The impact of the policyon the average price is in general ambiguous or negative. Underthe most plausible assumptions, it is negative, implying thatfarmers as a whole lose from the procurement policy.     

The Impact of Landownership Security: Theory and Evidence from Thailand

This article develops a model of farmers' land acquisition andinvestment decisions. The model clarifies the relation betweenland values, landownership security, and credit markets. Therisk of eviction on untitled lands and the advantages in accessto credit associated with titled land are shown to account forthe higher price of titled land. Furthermore, observed landprices are distorted when credit is priced below the opportunitycost of capital and the risk of eviction is positive. Thereforesocial benefit analysis of land titling cannot utilize landprices without correcting for these distortions. The articleoffers formulas for performing such corrections. Econometricestimates of the value of legal ownership in three provincesof Thailand using cross-section land price data show a statisticallysignificant effect of ownership security on land price. Theeconometric estimates of ownership security are combined withthe formulas generated by the model to yield estimates of thesocial benefit of land titling in the three provinces. The analysisimplies that granting full legal ownership to squatters canbe a socially beneficial policy in many provinces.     

新的行政性调控对降低投资的影响

近期,国家发改委联合国土资源部、环保总局、安监局和银监会等部门,从产业政策、项目审核、土地审批、信贷以及环保等方面入手,要求各地对今年以来的新开工项目,在已经开展的自查工作基础上进行全面清理。笔者认为这项清理整顿措施将会显著降低未来几个月内的投资增速,但是它的效果可能非常短暂。如果未来几月个固定资产投资显著减速,央行近期加息的紧迫性将降低。     

最低生活保障对收入贫困和消费支出的影响

本文利用中国家庭收入调查(CHIP)2013年的城镇和农村住户调查数据,分析了我国城乡低保政策的瞄准效率、减贫效果及低保对家庭消费支出和福祉改善的影响。结果表明:低保的瞄准效果在农村不如城市,中部地区不如东部和西部;低保对缩小贫困差距、减轻贫困程度的影响大于对降低贫困发生率的影响,低保的减贫作用受到政策瞄准误差和保障水平的约束;整体上低保家庭并没有将收入优先用于吃、穿、住、行等基本生活需求的满足,而是用于教育、健康等人力资本投资,相比非低保家庭,东部和中部的城市低保家庭倾向于将收入用于教育的投资,农村低保和中西部城市低保家庭的医疗保健支出费用更高。因此,应提高低保政策的瞄准有效性和保障水平,加强低保政策与医疗、教育等专项救助政策的衔接,逐步实现城乡统筹,确保社会救助的公平性和长效性,充分发挥低保政策的兜底保障功能。     

中国银行业收入结构变革对收益的影响

面临混业趋势的挑战,内外竞争的压力以及市场环境的日益复杂,商业银行传统信贷业务的发展空间受到严重挤压,经营战略转型势在必行。近几年,非利息收入以其稳定收益、改善收入结构、增加多样化收益等优势,成为商业银行的必争之地。但是,非利息收入与银行收益之间的关系究竟如何,仍然是值得研究的课题。本文利用我国12家商业银行1999～2006年期间的数据对非利息收入的收益贡献进行剖析,回归结果表明非利息收入与银行资本收益率之间存在显著且稳定的负相关关系,这一结论不同于以往的观点。同时,本文结合当前现状对该结论做出经济解释,并针对问题提出相关政策建议。     

佣金浮动与证券经纪业务变革

浮动佣金制促进了全球证券经纪业务新格局的形成。佣金浮动同样也影响着我国证券经纪业务的收入结构、佣金形式、营销模式、竞争方式以及经纪商格局等。对此我国证券经纪业务要进行新的定位选择、整体运作模式革新、服务意识转变等一系列内在变革．而不仅仅是价格竞争。     

保险公司破产的经济影响与监管研究:来自美国的经验及启示

基于美国保险业的破产数据和文献资料,分析阐述了美国保险业的破产概况和保险公司破产的经济影响,剖析了保险公司的破产原因,考察了美国的保险监管对破产保险公司的管理处置措施,最后对我国保险监管提出了对策建议。     

浅谈支付新规261号文对征信业务的影响及启示

中国人民银行发布的支付新规261号文,明确了多项措施来加强个人支付信息安全保护,防范电信网络诈骗.其中的相关规定对征信业发展带来了重要的启示.为进一步履行社会责任,加强征信信息安全保护,应完善信用信息共享机制,强化异常查询监测功能,严格控制查询操作,加大征信宣传教育力度.     

Deregulating the Transfer of Agricultural Technology: Lessons from Bangladesh, India, Turkey, and Zimbabwe

Many transition and developing economies have reduced directpublic involvement in the production and trade of seed and otheragricultural inputs. This trend creates opportunities for farmersto realize improved access to inputs, including technology frominternational private research. Unfortunately, input regulationsoften derail these opportunities by blocking private entry andthe introduction of private technology. This study looks atthe experience in Bangladesh, India, Turkey, and Zimbabwe tosee whether regulations make a difference in agriculture andinput industries in developing economies. In all countries,companies and farmers responded to regulatory reforms by introducingand adopting more new technology and by expanding the production,trade, and use of inputs. The increased use of private technologyhas brought higher yields and incomes, allowing farmers andconsumers to reach higher levels of welfare. These results challengegovernments to open their regulatory systems to allow marketentry and the introduction of private technology through seedsand other inputs.      

浅析准则变化对资产评估业务开拓的影响

2008年后,我国新会计准则的实施范围扩大到了所有的中央国有企业。2008年7月1日后,资产评估准则中的7项新准则也正式实施。会计准则与评估准则的更新与我们的资产评估工作关系密切。本文将从开拓市场的需求出发,探讨准则中的几项重要变化对我们业务的影响。     

农村金融的驱动模式变迁及其影响

本文在全面梳理国际农村金融业务发展脉络的基础上,总结出驱动农村金融业务发展的三种模式,即社会企业模式、企业社会责任模式和金字塔底端模式,深入分析了这三种模式演进背后的经济社会原因,并评价了多种模式并存对农村经济社会发展的积极意义。     

Over-Reaction by Security Market Analysts: The Impact of Broker Status and Firm Size

The aim of this study is to provide an examination of short-term earnings forecasts for evidence of systematic over-reaction. Analysts' predicted changes in earnings are compared with the realised changes to identify the contribution of systematic error (bias and generalised over-reaction) to the mean square error. A second analysis investigates whether analysts over-react to prior earnings changes. For both analyses, the impact of firm size and analysts' broker status are investigated.     

试论“撒切尔革命”对英国社会保障制度的影响及对中国的启示

20世纪80年代以撒切尔夫人为首的保守党对英国进行了长达16年的新自由主义改革,幅度大,效果明显,被人们称为＂撒切尔革命＂,创造了英国80年代经济持续增长的＂撒切尔奇迹＂。＂撒切尔革命＂对政府财政难以为继的社会保障制度进行了重要改革,重新调整了方向,用英国评论界的话说就是＂她对破坏性的、过度的福利制度提出了最勇敢的挑战＂,促使英国的福利国家制度发生重大转型。＂撒切尔革命＂对中国社会保障制度的完善有着重要启示。     

我国融资租赁业风险与监管研究

基于我国融资租赁业的发展现状,本文对其发展过程中的风险积累问题进行了深度剖析,并结合我国现行融资租赁业监管体系结构,重点探究了巴塞尔协议Ⅲ以及国内相关监管新标准对我国融资租赁业未来发展的影响。研究结果表明,我国融资租赁业监管将在2015年至2018年间得到进一步规范和强化,融资租赁公司的粗放式发展模式会得到深度规范和清理。制约金融租赁公司发展的主要原因是资本充足风险和流动性风险,而内资和外资租赁公司的主要风险是合规运营风险。     

风险分担机制变迁、银行经营模式转型与银行安全

经济全球化过程中,金融市场横向风险分担机制侵蚀了银行中介跨期风险分担机制;一部分资金从银行中介转移到金融市场,致使商业银行传统盈利模式遭受冲击。银行必须从传统的存贷款经营模式转变为参与金融市场和衍生工具交易的、提供综合金融服务的现代经营模式。在这一转型过程中,如果转型过快或者银行不能适应变化,银行体系则可能积累大量风险,并导致银行危机。实证检验结果显示,风险分担机制变迁显著增加了银行危机的概率。