金融自由化与金融监管

<正> 金融自由化主要是指金融当局通过金融改革,放松或解除金融市场的各种行政管制措施,从而为金融市场交易提供一个更为宽松自由的管理环境,主要包括利率自由化、汇率自由化、银行业务自由化、金融市场自由化和资本流动自由化等。其源头可追溯到20世纪50年代末、60年代初的欧洲货币市场的兴起,一举打破了国际金融市场相互分割的局面。在此之前,世界各国的金融体系基本上在各自国界划定的框架内独立运行,各     

天津离岸金融市场监管模式的选择研究

20世纪70年代后,全球性的金融自由化趋势迅速发展金融创新浪潮迫使各国政府放松管制,离岸国际金融市场便成为发展中国家创建国际金融市场的一种主要形式。随着天津滨海新区被批准成为继深圳、上海后我国第三个离岸金融试点地区,有关天津离岸金融市场的构建问题,逐渐被学者重视起来。本文介绍了国际离岸金融市场的主要监管模式、内容,结合天津滨海新区现有的金融和经济条件,提出适合天津发展的离岸金融市场的监管模式。     

国际金融市场的机遇与风险

自我国加入WTO(世界贸易组织)以来,我国金融市场逐渐趋于国际化,人民币、外汇等各类金融产品在国际市场中得到了良好的发展。这说明我国金融市场与国际金融市场之间有着密不可分的联系。基于这一背景,文章首先详细介绍了国际金融市场的含义、类型与作用,然后重点分析了国际金融市场给各国所带来的机遇和风险,旨在帮助各国抓住机遇的同时,也能够对风险进行很好的规避。     

我国离岸金融市场建设中存在问题分析

离岸金融市场是全球金融一体化和自由化的产物,是国际金融市场的重要组成部分。本文在回顾我国离岸金融市场发展的历程上,指出目前我国离岸金融市场存在的问题,并有针对性地提出完善我国离岸金融市场建设的建议。     

现代国际金融秩序与当代中国金融改革

随着国际冷战的结束,和平与发展又一次成为人类追求的主题,在这种情况下,国际资本跨国的转移愈加频繁,规模日渐增长,这促使各国不得不放松外汇管制,以自由化为基本特征的金融改革形成一股不可逆转的基本趋势。这个趋势主要表现在三个方面:一是利率自由化。西方主要国家普遍取消银行存贷款利率的限制。二是金融业务自由化,西方工业国家相继放松或取消对商业银行、储蓄银行和证券公司业务交叉的限制。三是金融市场自由化。西方工业国家开放国内市场、放弃外汇管制,设立离岸金融市场,使国内和国际金融市场高度融合,推动金融国际化。金融自由化正在向深度、广度发展。     

我国离岸金融市场发展的问题分析及解决措施

离岸金融市场是全球金融一体化和自由化的产物,是国际金融市场的重要组成部分。回顾我国离岸金融市场的发展,可以看出,其发展过程中或多或少的存在一些问题。本文提出了我国离岸金融市场的发展中的一些主要常见的问题,并有针对性地提出完善我国离岸金融市场建设的建议     

我国民营银行发展分析

伴随金融全球化和自由化的发展,我国金融改革不断创新、深化,开放民营银行被视为金融改革的新亮点。从发展趋势来看,自20世纪90年代以来,无论是发展中国家还是发达国家,民营银行的资产比重总体呈上升态势,民营银行已经日趋成为各国银行业的主流。但是,我国的金融市场体系还存在诸多影响和制约民营银行发展的因素。当前的国际金融形势也为我国金融改革敲响了警钟,我国民营银行应抓住时机,探索新发展。     

我国民营银行发展分析

伴随金融全球化和自由化的发展,我国金融改革不断创新、深化,开放民营银行被视为金融改革的新亮点。从发展趋势来看,自20世纪90年代以来,无论是发展中国家还是发达国家,民营银行的资产比重总体呈上升态势,民营银行已经日趋成为各国银行业的主流。但是,我国的金融市场体系还存在诸多影响和制约民营银行发展的因素。当前的国际金融形势也为我国金融改革敲响了警钟,我国民营银行应抓住时机,探索新发展。     

关于离岸金融市场风险监管的思考

离岸金融市场(Offshore Market)也称为境外金融市场（External Markel)，是指经非居民之间的融资业务，即经营外国贷款、投资与外国筹资之间业务的国际金融市场。离岸金融市场萌芽于20世纪50年代初，初步形成欧洲货币市场，20世纪60年代到70年代时在欧洲和发展中国家迅速发展，20世纪80年代进入高速成长时期。离岸金融发展的同时也伴随着离岸金融风险，     

世界金融变革中的跨国银行

自７０年代以来,世界金融发生了一场持续至今的深刻变革,除了科技革命和世界经济发展的重要推动作用外,这场变革在很大程度上是由国际银行业的变革推动的,反过来,世界金融变革的加速发展又进一步影响到跨国银行经营战略的变化。其结果是,国际金融体系由简到繁,不断改革,不断创新,不断完善。金融活动更加活跃,金融创新层出不穷,在金融经营活动的收益和风险呈现双向扩大的总趋势下,国际金融的一体化、全球化达到了新的水平。一、世界金融变革的主要趋势１．金融自由化金融自由化是当今世界金融制度变革的主流。金融自由化是相对金…     

Consumer financial education and financial capability

The purpose of this study was to explore potential effects of financial education on the financial capability of American consumers. Data from the 2012 National Financial Capability Study were used to test the hypothesis that financial education is positively associated with financial capability. Four financial literacy and behaviour variables were used to form a financial capability index. Multivariate linear regression results showed that, after controlling for demographic and financial variables, respondents who ever received financial education had higher scores in all financial capability indicators (objective financial literacy, subjective financial literacy, desirable financial behaviour, perceived financial capability and the financial capability index). In addition, high school, college and workplace financial education variables showed positive associations with these financial capability indicators. Additional state comparison analyses provided evidence suggesting high school financial education may have direct impacts and spillover effects on consumer financial capability.     

Quality financial inclusion and financial vulnerability

Despite existing evidence suggesting that financial inclusion enhances consumers' welfare, there has been no attempt to examine the link between financial inclusion and financial vulnerability, measured along multiple dimensions. We computed more comprehensive indices of financial vulnerability and financial inclusion using polychoric principal component analysis based on a nationally representative financial inclusion survey in South Africa. Results from quantile regressions show that only the top 20% of the financially included had lower vulnerability but the effect was weaker among the more vulnerable categories. Also, the decline in financial vulnerability was less pronounced when financial inclusion was narrowly defined by excluding quality indicators. These findings suggest that financial inclusion is benefitting a few consumers in South Africa which points to the need for a bottom-up approach in designing financial products that improve the welfare of the financially included consumers.     

财务分析在财务管理中的作用

作为预测的前提,财务分析同样也是过去经营活动的总结.把财务分析作为财务管理的重要手段,用其能了解企业的财务状况及经营成果,可为领导提供决策依据.对企业财务分析的研究有着重要的现实意义,拟就目前我国企业财务分析中存在问题进行探讨,并提出相应对策.     

财务分析在财务管理中的作用

作为预测的前提,财务分析同样也是过去经营活动的总结.把财务分析作为财务管理的重要手段,用其能了解企业的财务状况及经营成果,可为领导提供决策依据.对企业财务分析的研究有着重要的现实意义,拟就目前我国企业财务分析中存在问题进行探讨,并提出相应对策.     

财务分析在财务管理中的作用

作为预测的前提,财务分析同样也是过去经营活动的总结.把财务分析作为财务管理的重要手段,用其能了解企业的财务状况及经营成果,可为领导提供决策依据.对企业财务分析的研究有着重要的现实意义,拟就目前我国企业财务分析中存在问题进行探讨,并提出相应对策.     

Earlier financial literacy and later financial behaviour of college students

This study examined the association of earlier financial literacy and later financial behaviour of college students. Financial literacy was measured by both subjective and objective knowledge and financial behaviours were categorized into risky paying and borrowing behaviours. Based on data collected at two time points from a panel of college students at a major state university in the USA, the results showed that the association between earlier knowledge and later financial behaviours differed by the specific type of knowledge (subjective vs. objective), with stronger effect of subjective knowledge, compared with objective knowledge on both composite and individual measures of risky borrowing and paying behaviours. We found that only subjective knowledge was correlated with a reduction in both composite behaviours. Both subjective and objective knowledge, however, reduced some specific risky paying and borrowing behaviours. Finally, we found consistent differences for two of the control variables: higher GPA (Grade Point Average) was associated with fewer risky paying behaviours; and gender (male vs. female) was associated with more of both types of risky behaviours.     

The impact of offshore financial centers on international financial markets

Offshore centers have come to play an important role in the institutional structure of international financial markets. The article identifies two dimensions of dynamic competition that are relevant for an analysis of the offshore center phenomenon. First, there is competition between the offshore centers and one or more domestic financial markets. Second, there is dynamic competition among the offshore centers. The system of offshore centers generates a three-tier structure of international financial markets: domestic, foreign traditional, and offshore markets, both with respect to financial intermediaries as well as securities markets. This structure constitutes the institutional base for trends in the international financial markets which result in a process of increasing globalization.     

The impact of financial planning designations on financial planner income

This paper examines the impact of three of the main financial planning designations on financial planner income. This study uses a sample of over 1800 financial planners including those with the Certified Financial Planner (CFP®), Chartered Financial Consultant (ChFC), Personal Financial Specialist (PFS), and no designation. The study results indicate that the CFP® designation is associated with a significant increase in income when compared with planners with no designation or holding the other designations cited. The researchers find no significant impact on earnings of the ChFC designation or the PFS designation. It is also found that the impact of the CFP® designation is greater for those planners relying on performance-based earnings rather than salary-based earnings.     

Emerging adults' financial capability: A financial socialization perspective

This exploratory qualitative research uses the United Kingdom as a case study to understand how past and present financial socialization agents have either enhanced or inhibited emerging adults' financial capability in order to highlight potential opportunities for future policy and practice interventions. Three primary socialization agents were identified. The family as trusted primary advisor continues well into adulthood, even where family financial capability may be low. Beyond this, emerging adults only reluctantly engage with their bank, rely on just‐in‐time experiential learning or self‐socialize via diving, often with false confidence, into the internet. Although there are many quantitative studies on financial socialization, this paper fills a gap by taking a deeply qualitative approach showing, for the first time, empirically highlighting the limited number of financial socialization agents through the voices of emerging adults. The findings contradict previous socialization research that suggests parental socialization reduces into adulthood.     

Determinants of financial worry

Grounded in the transactional stress-coping theory and the Tallis and Eysenck (1994) model of nonpathological worry, the present study sought to advance the conceptual and empirical understanding of financial worry (FW). We positioned objective financial stressors (OFS), subjective financial stressors (SFS), and coping resources as key variables in understanding the determinants of financial worry (FW). The cross-sectional data consisted of responses from a representative sample of 19,385 adults, aged 18 and older, drawn from a large U.S. survey. Hierarchical linear regression results revealed that OFS, SFS, household income, and financial capability (FC) are all key determinants of FW. Furthermore, the results revealed adverse effects of OFS and SFS on FW. These effects were moderated by household income, FC, age, and gender. Implications for future research, employers, practitioners, and policymakers are discussed.