Banks’ non-traditional activities under regulatory changes: impact on risk,performance and capital adequacy

Using the big six Canadian chartered banks quarterly financial statements and daily stock market data from 1982 to 2018, we examine the impact of non-interest income on Canadian banks’ risk, performance and capital under the different major regulatory changes made to the Bank Act of Canada. Our results show that Canadian banks’ expansion into non-traditional activities had slightly decreased their risks and significantly improved their performance benefitting from income diversification. Moreover, while adhering to capital adequacy regulation, reshuffling banks’ portfolio towards non-traditional activities did not reduce Canadian banks’ capital ratio. In spite of the re-regulation towards universal banking against ring-fencing, this feature buttresses the effectiveness of capital adequacy regulation in Canada in linking banks capital allocation with their risk taking.     

中国能源安全现状及其可持续发展

作为世界上第三大能源消费进口国,中国的能源安全问题和能源安全战略的实施是我国保持持续平稳发展所必须认真面对的重要课题和基本任务。本文从能源安全的基本内涵、发展历程、不同类型国家的能源安全战略对比分析以及中国能源安全现实的剖析,以发展的眼光分别在战略上和战术上提出了几大对策,从而使中国能源安全实现可持续发展。     

金融中介及关系银行——基于广东外资企业银行融资数据的研究

本文根据外资银行和国有商业银行向在中国境内的外资企业提供的外币贷款和人民币贷款的数据 ,对金融中介及关系银行进行了实证研究。我们的主要结论有两点 :第一 ,企业与银行建立起来的金融业务关系越长久 ,那么其所获得的外币贷款利率就越低。这是对金融中介理论的支持。另外 ,外资控股、第三方担保等因素 ,也具有降低外币贷款利率的效应。第二 ,人民币贷款的利率随着外资企业与更多的银行建立和保持合作关系而降低。人民币贷款主要是由我国商业银行提供。如果商业银行间的竞争仅仅是用来作为信贷定价的主要决定因素 ,而不是用来推进金融创新 ,提供高质量的金融产品和服务 ,那么这将会损害我国商业银行的获利能力并进而影响金融系统的健康发展。     

试论财政优化资源配置的作用

资源配置客观上包含宏观、中观、微观三个层次。尽管市场在资源配置中应发挥基础性作用，但为了实现三个层次的资源配置的优化，政府财政都应发挥重要的调节作用。     

区域产业结构调整与土地可持续利用关系研究

文章通过实证分析方式阐述了区域经济发展与土地利用相互关系，着重分析了我国非农产业发展的不同阶段耕地占用状况的变化，在此基础上，进一步分析了区域经济系统产业结构升级与用地结构的变迁关系，尤其是“十五”期间我国产业结构的进一步升级，将在一定程度上进一步带动农业用地的非农化，同时还可能会造成土地污染问题，据此作者认为我国产业经济的可持续发展必须以土地资源可持续利用为基础，并提出了推进我国可持续发展的战略实施的土地资源可持续利用政策体系。     

金融控股公司组织效率的比较分析

金融控股公司、全能银行和战略联盟三者相比,金融控股公司和战略联盟的负向范围效率一般小于全能银行;金融控股公司的正向范围效率一般弱于全能银行而强于战略联盟.总体上,金融控股公司比战略联盟具有范围效率优势.     

是什么妨碍了中国成为制造强国

我国已成为一个制造业大国，但还不是一个制造业强国。把我国建设成为一个民富国强的国家是几代中国人为之奋斗的理想。中国要成为一个现代化强国，必先成为一个制造业强国。中国制造业专用人力资源短缺，已成为阻碍中国成为制造业强国的一个关键因素。造成人才短缺的原因累积深厚，非一日可除之。必须从大局着眼，全社会重视，继续深化改革，方可消除积弊。     

Productivity and Technical Change in Malaysian Banking: 1989–1998

This study examines the impact of deregulation and technological change on the productivity of Malaysian banks over the period 1989–1998. Malmquist indices constructed with nonparametric DEA techniques are decomposed into their pure efficiency, scale efficiency, and technological change components. Our findings indicate an erosion of banking productivity that masks divergent tendencies among its component elements. These are dominated by adverse effects of technological change, which are associated with a reduction in the labor intensity of banking activity. Consistent with the mixed findings reported in the literature, the present investigation suggests that regulatory reform and liberalization are not sufficient conditions for productivity improvement.JEL classification: D24, G21This paper was written while Dogan was a member of Monash University Malaysia. Financial support from the Faculty of Business and Economics at Monash University is gratefully acknowledged, as are the constructive comments from two anonymous referees.     

The Global Determinants of Direct Office Real Estate Returns

We investigate the determinants of direct office real estate returns by analyzing rents, capital appraisals, and total returns. A recently compiled global database of major cities in Asia, Europe, and the United States provides a unique opportunity to give a macro-view on the effects of economic growth and supply and demand factors on nominal real estate returns. The global database provides quarterly observations from 1986 to 1999. To address the smoothness problem of appraisal-based price data and regulated rents, we employ the Generalized Method of Moments to estimate a dynamic panel-data model. The model allows us to combine the cross-sectional and time-series dimension in our quarterly data. We find that gross domestic product, inflation, unemployment, vacancy rate, and the available stock all have an effect on real estate returns.     

Development and efficiency of the banking sector in a transitional economy: Hungarian experience

The paper analyzes the experiences and developments of Hungarian banking sector during the transitional process from a centralized economy to a market-oriented system. The paper identifies that early reorganization initiatives, flexible approaches to privatization, and liberal policies towards foreign banks’ involvement with the domestic institutions helped to build a relatively stable and increasingly efficient banking system. Foreign banks and banks with higher foreign bank ownership involvement were associated with lower inefficiency.