The impact of institutional volatility on financial volatility in transition economies

What have been the determinants of financial volatility in the transition countries of Central and Eastern Europe and the former Soviet Union? This paper posits that institutional changes, and in particular the volatility of crucial institutions such as property rights, have been the major causes of financial volatility in transition. Building a unique monthly database of 20 transition economies from 1991 to 2017, this paper applies the GARCH family of models to examine financial volatility as a function of institutional volatility. The results show that more advanced institutions help to dampen financial sector volatility, while institutional volatility feeds through directly to financial sector volatility in transition. Democratic changes in particular engender much higher levels of volatility, while property rights are sensitive to the metric used for their measurement.     

试论城市经营的本质

文章论述了城市公共物品所有权、经营权和管理权的相互关系 ,指出城市经营就是对城市公共物品产权的再认识 ,认为公共物品所有权应实现多元化 ,所有权、经营权与管理权可以分离 ;并就城市经营过程中政府职能转变的原因和目标定位进行探讨 ,认为政府应由全能型向专职型过渡 ,指出在市场经济条件下城市政府应履行好经济制导管理、城市公共物品经营配套、城市整体形象策划三大职责     

Host country's governance and the size of foreign investors

We find that smaller foreign investors are more sensitive to the quality of host country's governance than larger investors. This may be the case as smaller foreign firms have less bargaining power and are more sensitive to uncertainty and risk.     

应用来源披露制度保护我国传统医药相关问题的研究

目的研究应用来源披露制度保护我国传统医药的可行性及措施。方法对来源披露制度的关键因素和我国传统医药的内涵及法律保护环境加以分析。结果与结论应用来源披露制度保护我国传统医药可行度高,构建该制度保护我国传统医药,关键是要在专利法中增加对传统知识的来源披露和披露传统医药思想。     

科技金融与科技创新协同机制研究

本文以科技金融与科技创新两者的协同为出发点,针对目前两者协同过程中存在的问题,在借鉴国内外科技金融与科技创新先进经验的基础上,提出应该充分发挥政府与市场两方面力量,通过完善科技与金融信息共享平台、创新贷款模式、打造科技金融生态圈、培育复合型科技金融人才以及强化科技金融风险管理等对策建议,以期实现科技金融与科技创新的深入协同,高质量发展中国经济。     

罗马法中的严格责任制度及其现代启示

严格责任自罗马法开始就是一种独立的归责标准和责任类型,在罗马社会生活中发挥着过错责任无法取代的社会功能。随着经济、政治、宗教甚至法律本身的发展,严格责任制度在罗马法中不断拓展其外延并丰富其内涵,充分体现了法律对生命安全和人的差别性的尊重。罗马法在严格责任制度上的开放性安排,对现代中国的民事责任立法具有重大的启示意义。     

浅析《道路交通安全法》第76条在第三者责任险中的司法运用

新交通法实施以来,因道路交通损害赔偿纠纷的案件急剧增加。由于缺少配套的法律规定和司法解释,各地法院在运用交通法第76条审理案件时出现了不同的理解,并且与相关法律尤其是《保险法》出现了部分立法冲突!对第三者责任险的不同理解使得矛盾凸显!在司法实践中也出现了不少问题,但本质上是由于第76条自身缺陷造成的。本文根据现有的法律法规,从法理的角度分析,提出解决问题的办法。     

我国高技术产业技术引进生态关系与演化趋势

技术引进创新是高技术产业技术创新的重要方式。基于生态系统理论和Lotka Volterra模型,构建高技术产业国内技术购买与国外技术引进生态模型,以《中国高技术产业统计年鉴（1995-2014年）》中技术引进相关数据为基础进行实证分析,运用MAPE方法判别模型预测能力,基于模型参数和生态系统理论分析国内技术购买与国外技术引进生态关系,运用微分方程理论和稳定性理论分析技术引进演化趋势。结果表明：国内技术购买与国外技术引进不存在稳定平衡点,国外技术引进抑制了国内技术购买,国内技术购买促进了国外技术引进。两者发展趋势表明,国外技术引进最终会替代国内技术购买,结论对于高技术产业技术引进创新具有较强的理论意义和实践价值。     

法律法规在环境职业健康安全管理体系中的实施

法律法规是企业建立和运行环境管理体系（EMS）/职业健康安全管理体系（OHSAS）的根本保证,对企业开展EMS/OHSAS认证至关重要。本文结合认证审核的实践,重点分析在法律法规的收集和评价中偏离标准要求的现象,提出在体系认证中正确、全面地实施法律法规的意见和建议,以指导企业有效地开展EMS/OHSAS认证。     

Entrepreneurial talent and economic development in China

In this paper, we argue that the economic miracle of China in the past three decades can be attributed to the reallocation of entrepreneurial talent from the government/state and agricultural sectors to business activities. This change is unprecedented in the past two thousand years of Chinese history. When entrepreneurial talent was moved more to business activities, it created wealth, and the economy boomed. Three dominant groups of entrepreneurs are identified: (1) Peasants-turned entrepreneurs, (2) officials-turned entrepreneurs, and (3) overseas-returned, and engineers-turned, entrepreneurs. They have emerged sequentially, and successively led three decades of economic growth. The success of the Chinese economy arises from a gradual replacement of position-based rights with property-based rights that has triggered this reallocation of entrepreneurial talent. We also argue that when position-based and property-based rights coexist, value-creating and rent-seeking can be complementary. Therefore, one should not be puzzled by the coexistence of rapid economic growth and pervasive corruption in China. In order to improve the efficiency of allocation of entrepreneurial talent and efforts, it is important to further reduce the domain of position-based rights, and build a better-defined and more effectively-protected property rights system.