Evergreening in banking

In the dynamic model of banking, a bank's option to hide its loan losses by rolling over non-performing loans is shown to worsen moral hazard. Contrary to the classic theory, moral hazard may arise even when a bank cannot seek a correlated risk for its loans. The loans seem to be performing and the bank makes a profit although it is de facto insolvent. When the bank's balance sheet includes hidden non-performing loans, the bank may optimally shrink lending or gamble for resurrection by growing aggressively. To eliminate this type of moral hazard, which is broadly consistent with evidence from emerging economies, a few regulatory implications are suggested.     

香港、新加坡和上海国际金融中心的比较研究

本文以金融中心的功能定义为基准,以金融发展理论为基础,以金融系统功能分析为思路,对香港、新加坡和上海国际金融中心功能进行比较分析,探寻上海的比较优势和劣势。得出结论:从历史和现实来看,香港和新加坡在金融系统功能的诸多方面都超越上海,上海只是在商品期货方面处于领先地位;上海的最大优势之一是它和伦敦、纽约、东京一样有着强大的国家经济体作为后盾,近几年发展态势良好,有实现跨越式发展的能力:开放型、多功能是构建上海国际金融中心的趋势和方向。     

Banking deregulation and credit risk: Evidence from the EU

This paper studies the effect of banking deregulation on credit risk. Its theoretical model shows that a bank is willing to invest more resources in screening borrowers when there is an entry threat, even though loan rates are driven lower. Thus, deregulation may result in improved loan quality and lower credit risk. This result is tested using bank-level balance sheet data and macroeconomic data for the European Union. The data reveal that competition intensified after the completion of the Second Banking Directive, while loan quality improved in most markets. Evidence is found that the loan quality improvement is associated with lower interest margin.     

直接数字频率合成技术实现调频

本文阐述了ＤＤＳ的基本原理，语音信号的采样，如何用ＤＤＳ实现调频，并提供了试验结果。     

我国网上银行发展之法律问题

全球银行业正经历着一个激动人心的时代,网上银行顺理成章地成为这一时代的见证和表征。WTO体制下金融业的全面开放将使网上银行业务成为中外金融业竞争的焦点。现行监管模式和法律规制对于网上银行显得力不从心,已不能适应其蓬勃发展的客观需要。就有关网上银行及其业务的的监管模式、归责原则、民事责任等相关法律问题加以探讨,并提出一些浅见。     

银行垄断与银行危机

银行垄断不必然产生无效率，更不用说银行危机了。但是这一状况却出现在我国的四大专业银行上。在这篇文章里，作者指出，由于我们在国有银行作用定位上的错误，强使它们承担了许多本不属于它们的社会和政治的义务，从主观和客观两方面确定了其垄断地位，因此产生了许多严重的问题，如资本金不足，技术上的破产等，尤其是潜在的银行危机。     

Technology gaps in European banking: Put the blame on inputs or outputs?

This paper investigates the production efficiency of 12 European banking systems over the period 1997–2004, taking into account possible technology heterogeneity. Using a non-parametric metafrontier framework, efficiency and metatechnology ratio measures are computed and decomposed into input- and output-invariant components. Empirical findings indicate the existence of significant and rather increasing technology heterogeneity within European banking. A typology of the national banking systems is also developed, based on the overall productive performance with respect to the European technological edge, the absorptive capacity and the role of knowledge spillover effects. Decomposition results draw attention to catching up policies focusing on input and/or output scale adjustments.     

基于单片机的数字式温度计研究

随着时代的发展，数字式温度计在信息、电子、物流等许多领域都被广泛应用。文章阐述了基于单片机技术对普通温度计的改进，通过利用AT8951单片机的强大运算功能，对复杂数据的输入、运算和显示的处理能力进行分析。使数字式温度计在各种检测环境中对温度的监测反应更快、更精确、测量范围更广。     

数字证书推广应用中的问题及对策研究

通过对我国数字证书的发展现状及有关问题成因进行分析，具有针对性地提出了我国推广应用数字证书的相应对策。     

Financial liberalization and banking crises in emerging economies

Financial liberalization often leads to financial crises. This link has usually been attributed to poorly designed banking systems, an explanation that is largely static. In this paper we develop a dynamic explanation, by modelling the evolution of a newly-liberalized bank's opportunities and incentives to take on risk over time. The model reveals that even if a banking system is well-designed, in the sense of having good long-run properties, many countries will enjoy an initial period of rapid, low-risk growth and then enter a period with an elevated risk of banking crisis. This transition emerges because of the way in which the degree of foreign competition, the marginal product of capital, and the bank's own net worth simultaneously evolve.