世行提出全球经济复苏路线

在世界经济增长速度显著下降之际，世界银行发表了《全球发展金融》年度报告。此报告更新了对全球经济前景的展望，探讨了制定全球复苏路线图所必需采取的方法。在发布会上，世界银行发展预测局国际金融主管曼索尔·戴拉米（Mansoor Dailami）和发展预测局局长汉斯·蒂莫对报告做了解读     

世行:全球经济在稳步复苏

<正>世界银行在2011年1月13日发布的《2011年全球经济展望》报告中说,世界经济正在从危机后复苏回弹阶段转向速度减缓但仍然稳固的增长。同时还预计,随着中国调控措施的实施,这个世界第二大经济体2011年增幅也将略微放缓,而全球GDP2011年和2012年的     

世行预测2007全球经济

世界银行预测说,全球化会促进在未来25年平均收入加快增长,增速将超过1980～2005年,其中发展中国家将起重要作用.但是,如果不加以认真管理,随之而来的可能还有收入不平等扩大,并对环境造成潜在的严重压力.     

世行专家谈中国经济热点问题

近期,世界银行发布了新一期《中国经济季报》（以下简称《季报》）,报告分析了当前中国的经济形势,预测了2010年中国经济趋势。发布会期间,世界银行驻华代表处首席经济学家韩伟森、世界银行驻华代表处高级经济学家并《季报》主要作者高路易对中国经济的热点问题发表了他们的看法。     

世行调低全球经济增速预期

世界银行6月8日发布的更新版2011年《全球经济展望》报告称,预计2011全球经济增速将达5．2％,增速略低于此前公布的5．5％;全球经济增速将在2012年和2015年恢复至5．6％的水平。世行还表示,虽然发达经济体经济增长势头依旧疲弱,但新兴经济体在今明两年将继续引领全球经济增长。其中,中国今明两年的经济增速预计将达9．5％和8．戳。     

世行调高全球经济预测欧债为最大障碍

世界银行10日上午在网上发布的最新《2010年全球经济展望》预测,全球GDP2010年和2011年均会在2.9%～3.3%的范围内增长,中国经济在这两年的增速则分     

世行：反贫困进展依然强劲

世界银行说，改进后的经济估算显示全世界的贫困人口人数超过早先估算，同时显示战胜极度贫困的斗争取得巨大成功。     

世行调高中国经济增长预期

世界银行在已经公布的《2010中国经济季报》中指出,中国经济增长前景良好,虽然增长有所放缓,但仍然保持健康的态势,预计全年GDP增速将达到10％,与上个季度9．5％的预测相比,显然这个结果更为乐观。     

中国经济需要在复苏中求变

过去的10年,全球经济增长迅速而持续,其主要原因是美国在全球经济发展中起到了引擎作用——美国的借贷消费拉动了全球经济增长。包括中国在内的很多发展中国家充分抓住这一特点,扩大出口、加快发展,并取得了显著的成就。但是,这种发展模式并不具可持续性。尽管中国的金融市场没有充分融入全球金融市场,全球金融危机对中国金融市场的影响不是很大。但是,全球贸易量大幅萎缩,也造成了中国工业生产大幅下降、失业增加等,金融危机对中国经济的影响还是很大的。     

金融自由化与人的自由与发展

不能进行任何选择的人是不自由的,没有一定物质财富的人是没有选择权的,因此,人的自由与发展和人拥有的财富是密切相关的。金融自由化是帮助人们获取更大物质财富必不可少的经济制度前提。当前中国实行金融自由化收益将远远大于成本,金融自由化势在必行     

Financial liberalization,bureaucratic corruption and economic development

We study the effect of international financial integration on economic development when the quality of governance may be compromised by corruption. Our analysis is based on a dynamic general equilibrium model of a small economy in which growth is driven by capital accumulation and public policy is administered by government-appointed bureaucrats. Corruption may arise due to the opportunity for bureaucrats to embezzle public funds, an opportunity that is made more attractive by financial liberalization which, at the same time, raises efficiency in capital production. Our main results may be summarized as follows: (1) corruption is always bad for economic development, but its effect is worse if the economy is open than if it is closed; (2) the incidence of corruption may, itself, be affected by both the development and openness of the economy; (3) financial liberalization is good for development when governance is good, but may be bad for development when governance is bad; and (4) corruption and poverty may coexist as permanent, rather than just transitory, fixtures of an economy.     

Financial liberalization and bank risk-taking: International evidence

This paper analyzes the channels through which financial liberalization affects bank risk-taking in an international sample of 4333 banks in 83 countries. Our results indicate that financial liberalization increases bank risk-taking in both developed and developing countries but through different channels. Financial liberalization promotes stronger bank competition that increases risk-taking incentives in developed countries, whereas in developing countries it increases bank risk by expanding opportunities to take risk. Capital requirements help reduce the negative impact of financial liberalization on financial stability in both developed and developing countries. However, official supervision and financial transparency are only effective in developing countries.     

Financial liberalization and the stability of currency pegs

This paper analyzes how the strategies of domestic firms borrowing abroad complicate the interaction between central banks and foreign exchange short sellers. If we define financial liberalization as the degree of freedom given to domestic firms to borrow abroad, we find that, in the early stages of financial liberalization, foreign borrowing does not affect the stability of the currency peg, but, in the advanced stages of financial liberalization, foreign borrowing destabilizes currency pegs. When this happens, we show that policies to curb currency short sellers have no effect. The paper thus formalizes the critical juncture where financial liberalization and currency pegs become incompatible policy goals.     

世界银行建议推进中国国家高速公路建设

中国过去15年来在高速公路发展上取得了巨大的成就,并形成了巨大的公路资产.随着中国国家高速公路网的建设发展,要求中央和地方各级交通部门进一步加强公路养护、安全、运营,同时加强投融资管理以实现均衡发展.2007年2月12日,在交通部和世界银行联合召开的"中国高速公路绩效评价与跟踪"研讨会上,世界银行对过去15年来中国高速公路发展的成就给予了积极评价,同时建议中国进一步加强公路规划、投融资和管理方式,以确保公路资产的可持续和有效管理,从而为各地区提供公平的发展机会.     

Financial sector liberalization,bank privatization,and efficiency: Evidence from Pakistan

The Pakistani banking system has been transformed over the past 15 years through liberalization, the entry of private banks, the privatization of public-sector banks, and the tightening of prudential regulations. The effects of these changes on bank productivity and relative efficiency are investigated using various techniques. Bank productivity in terms of profits has increased, and new entrants have been efficient, but the dispersion of efficiency remains wide. The privatized banks improved their profit efficiency in the period immediately following their privatization, but in the subsequent years only one significantly improved its efficiency, whereas the other did not differentiate itself in terms of efficiency from the remaining state-owned banks. The new private domestic banks generally proved to be among the most efficient, and sometimes out-performed the foreign banks.     

世界银行建言中国改革和加强水资源管理框架

世界银行在北京发布新报告《解决中国的水稀缺：关于水资源管理若干问题的建议》，建议中国改革和加强水资源管理的机构设置、法律法规、信息和公众参与，重点放在明晰政府、市场、社会三者各自的作用及其相互关系；提高水资源管理部门的效率，充分利用市场手段，如水权、水价和生态补偿机制；强化水污染控制措施的执行以及对污染突发事件的准备。     

Financial liberalization and banking crises: The role of capital inflows and lack of transparency

This paper shows that the liberalization of capital inflows may undermine bank stability in emerging markets. After financial liberalization, uninformed international investors rationally provide large amounts of funds at low cost. This enables insolvent banks to accumulate bad loans. In equilibrium, when a substantial amount of losses may have been accumulated, solvent banks do not find it any longer optimal to issue debt at the interest rate that would compensate investors for risk. Investors anticipate this and stop holding bank debt. When the market for bank liabilities breaks down, insolvent banks default. I show that, because of wasteful investment, the liberalization of capital inflows may decrease aggregate welfare.     

Financial freedom and bank efficiency: Evidence from the European Union

This paper investigates the dynamics between the financial freedom counterparts of the economic freedom index drawn from the Heritage Foundation database and bank efficiency levels. We rely on a large sample of commercial banks operating in the 27 European Union member states over the 2000s. After estimating bank-specific efficiency scores using Data Envelopment Analysis (DEA), we develop a truncated regression model combined with bootstrapped confidence intervals to test our main hypotheses. Results suggest that the higher the degree of an economy’s financial freedom, the higher the benefits for banks in terms of cost advantages and overall efficiency. Our results also show that the effects of financial freedom on bank efficiency tend to be more pronounced in countries with freer political systems in which governments formulate and implement sound policies and higher quality governance.     

国际经济金融走势:复苏还是衰退?

后危机时代国际经济金融形势扑朔迷离,在发达国家实体经济尚未真正复苏之前,股票和大宗商品市场的泡沫却已显现,维持超低的基准利率还是选择加息,是发达国家央行最头疼的问题,因为抑制资产泡沫将伤及实体经济,但放任泡沫膨胀又会引发新的危机.