两年之后话危机——国际金融危机以来的思考与启示

通过赴美实地考察,对金融危机发生两周年以来的现实情况进行了思考,从房地产泡沫、金融衍生品过多、金融监管不力等因素分析了此次国际金融危机形成的深层次原因。而我国虽未受到根本性的冲击,但未来,我国金融体系都将受到其影响。因此,应通过反思危机发生的全过程和成因引以为戒,从强化对房地产市场风险管理、客观掌控金融创新问题、正确审视我国的金融监管体系等方面入手,采取有力防范措施,确保我国金融业顺利发展。     

亚洲金融危机四年祭

上世纪末发生的亚洲金融危机至今已经过去四年了,对它的研究却始终没有停止过.正如诺贝尔经济学奖得主、前世界银行副行长斯蒂格利茨所说的"每个人都在东南亚金融危机中印证了自己的理论",这足以说明这次危机的复杂性和特殊性.同时,亚洲经济还处在恢复之中,金融危机的影响至今没有完全消除,对它的研究仍然具有很强的现实意义.     

The Great Crash of 1929: A Look Back After 90 Years

The Great Crash of 1929 ranks among the climactic events of the last century, apparently heralding the beginning of the Great Depression. This event raises at least four questions that are relevant today:

• Why did the “Roaring 20s” roar? Some prominent contemporaries held that the decade roared because of consumerism, credit growth, and the Jazz Age. However, recent research suggests an alternative explanation: a revolution in manufacturing and technology that amplified economic growth and volatility in markets.
• Was the boom in equities a “bubble?” Both the authors’ research and other studies show surprisingly weak evidence of a bubble. The boom probably reflected the technology shock of the ‘20s. If there was a bubble, it was limited in time, breadth, and impact.
• What caused the Crash? The onset of an ordinary recession, surprising changes in monetary policy by the Fed, growing regulation, and rising protectionism all help to explain a sharp and sudden change in investor sentiment.
• Did the Crash cause the Great Depression, as popular opinion has long maintained? No. The cycle of economic contraction had begun well before the crash. Furthermore, the wealth effect of the Crash was limited. The pivot from recession into Great Depression reflected the abandonment of the Gold Exchange Standard, a wave of bank panics and collapse of credit, protectionism, and a number of maladroit public policies. But if the Crash did not cause the Depression, it probably amplified the effects of forces already at work.

Answers to these questions, illuminated by careful research, remind decision‐makers in business and government that the first explanations for historical events are not always the best, that complex systems have unintended consequences, and that gaps in information make the Great Crash a difficult standard by which to assess future events. The use of historical precedent warrants caution and great humility in the makers of public policy.     

儒家治国理论误国两千年

在中国传统社会,儒家学说被尊为一切社会行为的基本准则,这就夸大了它作为一家学派的历史作用.在被绝对尊崇的两千多年的时间里,事实已经证明,把它用来治理国家是不成功的.     

一个验资报告引发的两起诉讼

2001年12月,CY会计师事务所为TL公司出具了一个验资报告,确认TL公司注册资本100万元,其中:货币资金53万元,购买土地款30万元,“市场     

Ten Years After: Regulatory Developments in the Securities Markets Since the 1987 Market Break

It has been approximately 10 years since uncertainty, panic, and confusion wrested control from the forces of supply and demand and sent the U.S. securities markets plummeting. After much review, discussion, and analysis, it is widely agreed that certain aspects of the financial system contributed to that event. Since October 1987, many reforms have been implemented to address the weaknesses in the system highlighted by the 1987 market break. They include, among others, the implementation of circuit breakers, the approval of the Order Execution Rules, the reduction of the standard settlement time frame to T+3, the conversion to a same-day funds settlement system, the initiation of programs that regularly test the capacity of the market's automated systems, the augmentation of firms' capital levels, and improved coordination with regulators in other countries. The market has improved significantly because these changes have reduced or eliminated risk by improving coordination, increasing efficiency, sharing information, or ensuring sufficient system or capital capacity exists. Nevertheless, every market event is unique. Therefore, it remains important to identify and address new issues before they become problems.     

一起税务强制拍卖案为何两年难结?

在处理税务强制拍卖案件的执行过程中,作为执行人的基层税务机关,如何在确保国家税款及时入库的前提下,依法维护被执行人的合法权益并规避可能产生的执法风险在法制化建设进程日益完善的今天显得尤为重要。《一起税务强制拍卖案为何两年难结?》一文作者以其亲身经历为读者讲述了这一案件的来龙去脉,特别值得一读。     

浦发银行:站在十年的门槛上

作为一家股份制商业银行,浦发银行是中国银行业中极具活力的新鲜血液;作为一家在上海证券交易所公开上市的商业银行,浦发银行是众多等待上市的银行中的先行者;作为一家与世界金融豪门花旗集团展开战略性合作的全国性商业银行,浦发银行更是在中国银行业对外开放的记事本上写下了重重的一笔.     

危机后的思考——访全国人大代表、中国人民银行昆明中心支行行长杨小平

2010年早春,带着云南省金融界的重托,作为全国人大代表,人行昆明中心支行行长杨小平赴北京参加第十一届全国人民代表大会第三次会议。对刚刚过去的十分艰难而富有成效的一年,杨小平有怎样的感触？在新的一年,又会有怎样的新思考新建议？带着这些问题,记者采访了杨小平。     

危机后的战略转型

始于美国的次贷危机最终演变为一场全球性的经济危机,这次以次贷危机为导火索的美国金融危机逐步演变成上世纪大萧条以来最严重的国际金融危机,也是全球历史上第一次与衍生产品市场紧密相关的金融危机。经过二十多年的改革与发展,我国银行业初步完成了组织体系的变革和资产规模的扩张,但由于金融改革的滞后,     

前瞻未来30年

未来30年肯定会发生什么 第一,全球人口快速增长 这种趋势会继续下去,主要是在非洲、拉丁美洲,特别是在亚洲,只有俄罗斯、日本和欧洲是例外.100多年前,人口是16亿,而今天人口已经达到了60亿,到2030年,世界人口将达到80亿,人类的空间会越来越小,同时全球变暖也会更加严重,气侯变化的结果会给非洲、拉丁美洲和亚洲的许多国家带来更多的问题.人口爆炸加上气侯变暖将导致地区战争.比如非洲,在过去的50年中,我们看到至少有30场战争和冲突,有400万人在战争中死亡,还有无数难民流离失所.但是,未来非洲或者亚洲、拉丁美洲的这种战争并不意味着会发生世界大战.