普及金融教育 提高国民金融素质

法国哲学家狄德罗说，人们谈论最多的事情，往往是最不熟悉的事情。     

工会财务工作要在应对国际金融危机中有所作为

去年下半年发生的国际金融危机,给世界同时也给我国经济发展带来了前所未有的冲击和挑战。当前,国际金融危机还在蔓延,对我国经济的影响还在加深。     

中国金融出版社隆重推出《金融知识国民读本》

金融在现代经济中发挥的作用越来越大，金融与人们日常生活的联系也越来越紧密。老百姓必须具备必要的金融知识，才能理解、把握金融政策，也只有这样，各项政策的执行才能取得良好的效果。因此，向普通大众宣传、普及金融知识，是一项重要而迫切的任务，也是贯彻科学发展观、构建和谐社会的具体实践。向普通大众介绍金融理论与实务，必须以老百姓乐与接受的形式出现，才能真正起到普及的效果，因此迫切需要一本好的普及性金融读物。     

日本大手笔推出新对策

受国际金融危机冲击，日本经济陷入深度衰退。从好的方面看，麻生内阁积极的财政投入政策还是给日本市场注入了一针“强心剂”。     

美国次贷危机对我国商业银行的启示

美国次贷危机的爆发引起了国际金融市场的动荡,全球股市一度因此出现了连锁性的下跌。为防止危机深化和维持市场信心,美联储、欧洲中央银行、日本银行等主要中央银行都对金融市场投放了大量的流动性。目前来看,美国次贷危机演变成一场国际金融危机的可能性似乎不大,美国经济因此进入衰退的可能性也不大。     

发展普惠金融需要加强国民金融教育

发展普惠金融,让各社会成员或组织具有公平享受金融服务的机会和条件,不仅需要完善金融服务体系,还需要普遍提高服务对象的金融素质.加强国民金融教育,普及金融知识,是提高国民的金融服务接受和利用能力,降低金融排斥和保护金融消费者权益的有效途径和方法,是发展普惠金融的重要条件.我国应高度重视并采取切实有效的方法大力推进国民金融教育.     

对加强工会财务工作的几点意见

一、坚定信心,迎难而上,进一步增强做好工会财务工作的责任感和使命感 当前,国际金融危机已从金融领域蔓延到实体经济,导致世界经济走向衰退,许多金融机构和企业因此破产、倒闭。我国经济受国际金融危机影响程度也在不断加深,我省也不例外。省委、省政府根据党中央、国务院的一系列重大决策部署,结合海南实际,果断作出了增加投资上项目、扩大内需、攻坚克难抓落实等促进经济平稳较快发展。这些重大政策措施,对于动员全社会力量共同应对危机,化挑战为机遇,化压力为动力,起到了积极的促进作用。     

国民养老金制度的可行性研究——基于财政负担规模的测度

建立国民养老金制度是中国养老金多支柱改革和实现城乡统一的社会养老保险制度的内在要求和突破口。论文从财务可持续性的角度,在人口预测的基础上测度了国民养老金在中国实行的财政负担规模,评估结论显示国民养老金在中国具有可行性,并在此基础上进而提出了中国多支柱养老金制度体系的改革设想,建立由"国民养老金+个人账户养老金+职业年金"的大一统的城乡社会养老保险制度。     

德意志联邦银行财务缓冲机制及其启示

国际金融危机爆发后,主要国家中央银行纷纷进行各种常规、非常规操作,资产负债表规模较快扩张,财务状况面临较多不确定性。德意志联邦银行通过建立有效的财务缓冲机制,使用更为谨慎的会计处理手段,维护其财务实力。文章考察介绍了德央行财务缓冲机制的运作经验,并探讨了其对于我国央行如何通过完善财务制度增强抗风险能力的借鉴意义。     

次级信贷危机升级 美联储贷币政策或转向

自2007年7月底以来，“次级债风波”给美国经济和国际金融市场带来了一系列震荡性连锁反应。追根溯源，美国房地产市场．信贷市场．债券市场．股票市场以及美国经济内部的潜在风险是深层次原因，“次级债风波”作为一根导火索让全部风险组合有了在相互传染中集体释放的机会。受此影响，预计美国短期和中期经济增长将放缓，美联储也有望转向“稳健趋松”的货币政策。[编者按]     

Optimal financial education

When agents first invest in financial markets, they are relatively inexperienced. The agents best positioned to educate the inexperienced stand to earn trading profits at the expense of inexperienced agents. Owing to this phenomenon, we show that the equilibrium amount of financial education does not fully correct the biases of the inexperienced agents. In a dynamic setting, large levels of uninformed trading volume may be generated by the inexperienced agents. This is because, in equilibrium, the experienced intermediaries may delay educating the inexperienced in order to earn commissions in earlier rounds of trade.     

金融信息化建设与金融信息化教育

我国金融改革发展已经到了关键时期。面对金融市场全面对外开放的压力，加大金融创新力度，提高金融创新能力已成为我国金融业提高核心竞争力的关键。在金融信息化高度发展的今天，金融创新与信息技术在金融业的应用深度密不可分。根据统计，金融业95％的创新来自信息技术的应用，信息技术辅助分析与设计复杂金融产品的定价，并进行风险分析与管理，使创新金融产品的交易成为可能：金融创新需要依靠大量掌握信息技术及其应用知识、熟悉金融理论与实务并能把握金融业发展脉搏的复合型金融信息化人才。     

Directing strategically financial management education and training

Competence, capability and capacity in financial management are crucial for the success of all commercial organizations. Financial literacy is required of most if not all of the significant decision makers within organizations, no matter what their official status might be, if those organizations are to function effectively. Traditionally, developing this literacy has been seen as just another training issue on the agenda for the company's training department. This paper will argue that financial literacy is so important to organizations that financial management education and training should be seen more as part of the financial management control system of the organization than as a self development issue.

Directors of finance need to become involved in the financial education and training process, particularly at a strategic level, so as to ensure that the company's competence, capability and capacity in financial management are appropriate to the pace and direction of company development.     

Tailored financial literacy education: An indigenous perspective

Governments around the world agree that financial literacy education (FLE) is of the utmost importance, with the current economic times having led to a ‘teachable moment’ for financial education. However, caution should be taken when viewing education as the sole solution to the world’s economic problems as there is little evidence to support a causal link between FLE and financial behaviour/decision making. Furthermore, others conclude that FLE is not a single, value-neutral curriculum, and thus current approaches must recognise gender and cultural differences. This article examines the usefulness of mainstream FLE programmes adapted to suit Indigenous communities in terms of the delivery model, the content and the logistics of the programmes. This is achieved by examining the outcomes of four FLE programmes run in Indigenous communities and explores the need for diverse approaches to be applied to FLE in this context. We find that contextualised FLE based on an experiential group-learning model provides self-reported benefits to the participants. We also report on a range of practical issues that arise in Indigenous FLE. Finally, we recommend the exploration of sustainable FLE based on these principles.     

Access and use of financial markets for basic education expenses

As a result of the financial crisis of 2008, the macroeconomic adjustment has affected Mexican homes through greater unemployment and a drop in purchasing power. Moreover, families had to keep financing education costs, sometimes going into debt in the formal or informal financial market. The hypothesis of this article proposes that the access and use of formal and informal financial products makes it possible to reduce financial problems associated to education expenses at the basic education levels. The probit model is estimated with a sample comprised of four hundred homes in the municipality of San Pedro Cholula (state of Puebla). The results indicate that a worsening in the work conditions and the loss of employment are associated to a greater probability of facing financial difficulties. Likewise, the access to the formal financial market allows reducing the probability of facing these difficulties, whereas for the informal market the results are a function of the characteristics of each financial intermediary.     

Markets and institutions in financial intermediation: National characteristics as determinants

Given the importance of financial intermediation and the rise of globalization, there is little prior research on how national preferences for financial intermediation (markets versus institutions) are determined by cultural, legal, and other national characteristics. Using panel analysis for data on a recent 8-year period for 30 countries, this paper documents that national preferences for market financing increase with political stability, societal openness, economic inequality, and equity market concentration, and decreases with regulatory quality and ambiguity aversion. We confirm with robustness tests that our result for regulatory quality is independent of differences in national wealth and that our result for political stability is independent of both wealth and political legitimacy. These results should be of much interest to managers, scholars, regulators, and policy makers.     

Assessment of behavioural outcomes of financial education workshops on financial behaviour of the participants: An experimental study

The present study attempts to evaluate the behavioural outcomes of financial education workshops on the financial behaviour of participants (homemakers) in the state of Gujarat, India. A series of financial education workshops were conducted for 300 homemakers in November–December 2012. A pre- and post-survey design was used. In the pre-survey, the participants were asked to complete a questionnaire before they were invited to attend the financial education workshops. The follow-up survey data were collected 3 months after completion of the workshops. The effect of the financial education workshops on the financial behaviour of participants was assessed using 22 variables of financial behaviour, including cash, credit, saving and investment behaviour. The data were analysed using paired t-tests. The study finds that there is a positive effect of financial education workshops on the financial behaviour of participants. Specific findings may help financial education providers to design and implement such programmes more effectively and may provide guidelines to assess their impact.     

Reducing the distance: financial services education in web-extended learning environments

It is estimated that financial services comprise around 15% of the global economy. From the supply side, one key to meeting this demand is being able to educate and certify the people who provide these services. With the advent of the internet and related technologies, the ability to deliver financial services education synchronously to both online and on-campus attendees has become a viable alternative to pure face-to-face or pure online asynchronous education. Nonetheless, one question remains: can virtual technology deliver comparable quality of financial services educational experience as face-to-face teaching? It is this question our paper addresses using the theory of transactional distance. The theory of transactional distance postulates that for optimal learning, the cognitive gap between instructor(s) and learner(s) needs to be minimized. We explore how transactional distance in financial services education varies by attendance modality (in-class, online and mixed) in a synchronous, web-extended classroom. The implications for managers and researchers are explored.     

Developing financial capability among the young through education and asset-based welfare

One way the previous UK government tried to tackle declining youth financial capability was through its Child Trust Fund (CTF) policy. However, there were allegations that it created pliant subjects for financial markets and that it was paving the way to phase out services previously provided by the state. This article defends financial capability as part of financial citizenship and suggests that the CTF was important for supporting financial citizenship. The CTF model is being discussed in other countries and the arguments in this article are of importance in those countries, as well as to the carers and educators of the five million CTF holders in the UK.     

National culture and bank performance: Evidence from the recent financial crisis

We examine whether the prevailing national culture has been material in determining bank performance during the recent financial crisis. In this paper, we focus on three particular national culture dimensions: uncertainty avoidance, individualism/collectivism, and power distance. We expect banks from high uncertainty avoidance and power distance societies to perform relatively better during the recent financial crisis. On the other hand, banks in individualistic (collectivist) societies are likely to perform worse (better) during the crisis. Using an international sample of 3438 banks from 48 countries, we find support for our main conjectures. Specifically, we establish that uncertainty avoidance, collectivism, and power distance have a first order impact on bank performance during the crisis. Our results are robust to a battery of additional checks, including additional variables, alternative samples, and correcting for potential endogeneity.