金融脆弱性理论综述

金融脆弱性的概念产生于20世纪80年代初期,随着金融自由化、国际化进程的不断深入,金融危机不断爆发并呈现出与以往不同的特征。传统的从外部宏观经济角度来解释金融危机发生的原因越来越缺乏说服力,迫使人们放弃传统的思维方式,从内因的角度即从金融制度自身来解释新形势下金融危机发生的根源。本文主要以传统信贷市场为对象梳理了国外金融脆弱性理论。     

田山灌区节水改造及发展问题初探

1基本概况田山灌区位于济南市平阴县及泰安市肥城市境内,是山东省境内最大的电力引黄灌溉工程。1968年兴建,1971年投入运行,设计灌溉面积31·7万亩,排洪汇水面积55km2。灌区内既有山地丘陵,又有山前平原和沿黄低洼唇地,地形复杂。主体工程有:一级与二级提水泵站各一座,扬程分别     

Modelling the behaviour of the new issue market

This paper analyses the time series behaviour of the initial public offering (IPO) market using an equilibrium model of demand and supply that incorporates the number of new issues, average underpricing, and general market conditions. Model predictions include the existence of serial correlation in both the number of new issues and the average level of underpricing, as well as interactions between these variables and the impact of general market conditions. The model is tested using 40 years of monthly IPO data. The empirical results are generally consistent with predictions.     

信用风险评级的若干议题

我国的银行业进行信用风险评级,虽然在技术上有一定的“后发优势”,但是绝对不是简单的“直接拿来”。信用风险的内部评级工作需要根植于内部数据,开发适合中国实际情况的评级模型。本文从银行内部评级的角度,对信用风险评级的若干问题进行了讨论,并提出了适当的处理方式。     

关于靖西输气管道建设储气库的设想

随着陕甘宁气田的开发建设和下游用户的落实．陕西省的第一条长输管道靖西线随之兴建．一期输气能力为5亿m^3/a。在此之后又相继建成咸阳至宝鸡、西安至渭南两条输气管线．靖西输气管线输气量逐年上升．自1997年建成通气以来向下游城市累计输送天然气10.3亿m^3。冬季的用气高峰期日输气量已超过原设计能力．2000年达183万m^3,为保证下游高峰用气．于2001年建成靖边压气站并投入使用．     

利用管道模拟软件提升技术管理水平

通过分析管道模拟软件的特点、功能和应用,并结合目前天然气长输管道运营模式中存在的问题,阐述了引入天然气管道模拟软件对于提升技术管理水平的重要性和必要性.     

胜利油田集输系统常见腐蚀研究

分析了胜利油田集输系统常见的腐蚀类型和腐蚀机理，分别阐述了各种局部腐蚀的防护措施，并综合对比了各种防腐方法的优缺点．指出根据不同区块的实际腐蚀环境、介质及工艺条件，因地制宜、有的放矢地制定经济、合理的防腐措施是减缓和控制腐蚀的有效途径。     

The impact of privatization on efficiency and profitability

Over the past three decades, China has undergone tremendous economic and social change as a consequence of the transition from a centrally planned to a market economy. This paper examines a key feature of this transition – the privatization of the state‐owned enterprises (SOEs) – through both a theoretical model and empirical analysis. Using newly collected primary data from a variety of sources, we study how privatization of listed SOEs affects employment, wages, profits and other aspects of economic performance at the firm level. Our major finding is that privatization results in substantial downsizing of employment, increased labour productivity and rising profitability.     

Aggregation of the generalized fractional processes

The paper studies the interaction between aggregation and persistence pertaining to skip sampling of stock variables as well as temporal aggregation of flow variables for the generalized fractional processes. We show that, for skip sampling, the long memory feature at the zero frequency can arise from the aggregation of a generalized fractional series, while temporal aggregation does not induce such phenomenon. Simulation results are included to demonstrate the practical relevance of the theoretical results.