中国土地供应管制对住宅价格波动的影响

结合中国实际修正传统的存量—流量模型,选取1999—2007年中国30省市的季度面板数据进行计量检验,分析土地供应管制与住宅价格波动的关系,并比较不同的土地供应管制强度下投机因素对房价影响的大小。研究表明:(1)中国的土地供应管制对住宅价格水平及波动都有显著影响;(2)土地供给管制环境的宽松与紧缩影响投机行为作用的大小,当土地供应管制加强时,投机因素对房价波动的影响更大;(3)2003年下半年以来我国"从严从紧"的紧缩供地政策,通过预期效应作用于投机行为,进而传导给住宅市场,对平抑房价政策目标的实现产生了一定的负面影响。     

Rise and Fall of the First Financial Futures Market in China： The Case of Chinese Government Bond Futures

This paper studies the rise and fall of the first financial futures market in China. We compare the characteristics in the Chinese Government bond futures market with those in the US T-bond futures market. They differ in market design and structure, market governance, margin requirements, position limits, delivery process, and the way in which the settlement price is calculated. Furthermore, with a unique dataset, we show that prior to maturities of government bond futures, traders began to accumulate significant amounts of long positions for several selected contracts without the intention to offset, forcing short position holders to either purchase deliverable bonds or offset futures at highly inflated prices, causing higher market volatility and price disequilibrium in both spot and futures markets. Arbitrage opportunity arises and the market eventually collapses. The lessons learned from the suspension of the Chinese Government bond futures market offer an invaluable learning experience.     

混合供给模式下巨灾保险市场的激励与约束研究

巨灾保险具有准公共物品属性,既可以由政府提供,也可以由市场提供,单纯依靠政府和私人市场提供都存在较大弊端,政府和私人部门合作,采用混合供给模式可以形成互补优势,提高效率,这已成为国际巨灾保险市场发展的一大趋势。本文以混合供给模式下的巨灾保险市场为对象,分析巨灾保险市场中的委托代理关系,并对如何构建有效的激励与约束机制进行了初步探讨。     

废黄河三角洲资源禀赋与可持续发展对策

废黄河三角洲人口众多,资源丰富,区位独特,生态环境相对脆弱,经济发展缓慢,为我国沿海经济“低谷”。实现废黄河三角洲区域恢复与可持续发展的重点是加强度黄河三角洲生态修复与重建,加快交通与中心城市发展,把废黄河三角洲建成重要的农业生产、海洋化工、生态旅游基地。     

关于文字性质问题的再思索

文字性质判定标准,是一个有争议的话题。学界的观点可谓异说纷呈,百花齐放。其中＂字符性质决定文字性质说＂是颇有影响的观点之一。这一文字性质观直接表现为＂两层符号理论＂与＂三类字符说＂,并认为＂撇开字符的性质,仅仅根据文字书写的基本单位所代表的语言成分的性质,来给文字体系定名,也是不妥当的。＂对于这种文字性质观,我们有许多疑惑。就这些疑惑,提出了自己的管窥之见,以就正于方家。     

企业集团在反垄断法中的主体地位之界定

经济全球化和经济转轨中的中国正处于企业集团化高峰期。企业集团有可能利用对外合并、内部共谋以妨碍或阻止市场竞争,不同类型的企业集团对竞争的影响大不相同。与单体企业相比,企业集团的反垄断法规制具有主体认定的特殊性,表现为企业集团在反垄断法上的主体地位界定具有复杂性和困难性,这导致我国“婴儿期”的反垄断法时企业集团规制明显存在制度供给不足,有可能对市场的有效竞争形成损害。我国亟待构建完备的对企业集团进行反垄断规制的制度体系,核心是企业集团在反垄断法上的主体地位甄别与认定;主体地位的界定应当借鉴美欧成熟的理论,对企业集团的限制竞争行为展开准确有效的规制。     

互文性理论观照下的译者主体性研究

互文性理论强调文本之间的相互关系,它颠覆了传统翻译理论中原作者至高无上的地位,赋予了译者以读者、阐释者及作者的身份,在对原文的翻译、阐释及改写过程中,译者的主体性可以得到充分发挥;同时,译者主体性的介入受到原文作者、文化、语境和译文读者等诸多因素的制约。     

基于灰色关联度的企业技术中心效益综合评价

技术中心评价系统是一个包含定性因素与定量因素的多目标评价系统。针对该系统中存在的信息不充分现象,提出了企业技术中心灰色综合评价模型,通过实例分析,证明该方法在多因子综合评价中是较好的方法。     

我国现金管理政策与流动性过剩——现金投放计划与消费不足关系的分析

我国历年严厉执行的现金投放计划属于计划经济性质的现金管理政策。这在市场化改革过程中已造成了M0与M2、M0与GDP之间的非均衡增长。文章认为,当前我国公众消费仍以使用M0交易为主。基础货币管理政策和现金投放计划这种双轨的货币调控制度,容易引起消费量与信贷投资量之间的非均衡增长,从而形成消费需求与投资相比的缺口。因此,现金管理效应可能是造成我国流动性过剩的制度原因之一。     

Organisations and the sixth wave: Are ethics transforming our economies in the coming decades?

The Kondratieff wave theory describes how societies develop in socio-economic waves of 40–60 years. The theory postulates a set of technologies and practices that are unique to each wave. Although a challenge of the Kondratieff wave theory is great variance in interpretations about the timing of the waves among scholars, based on several analyses we suggest that with the financial crisis of 2008, and resulting economic instability, we are experiencing the end of the fifth wave and the emergence of the sixth.We take as our starting point the global trends, particularly those of scarcity and the rising cost of commodities such as energy and raw materials that have led to a widely shared hypothesis that resource productivity will be the key driver of technology and economic growth in the next wave. Socially, this driver will be fortified by growing environmental concerns since climate change and the destruction of natural ecosystems seem inevitably to proceed. Both these sources are boosting a generation of new companies and behaviour.In this article our focus is to evaluate weak signals that point to possible directions for the future of organisational practices in the sixth Kondratieff wave. We ask what will be the effects of the changing socio-technical landscape on the working life and organisational culture. The K-waves theory explains how certain ways of organising that have so far developed in the fringes of organisational culture may move into the mainstream, as a product of the systemic restructuring that has often accompanied the new K-wave.We present our findings from a workshop with representatives of five different resource efficiency oriented organisations in the Silicon Valley area. Based on the data we have gathered through the workshop and complementing interviews, we show how organisations base their considerations about the future to a surprisingly large extent on ethical arguments. Our material also includes a case that shows that this ethical approach is not self-evidently related to the aim for resource efficiency.We evaluate our results in the Future Sign – framework presented by Hiltunen. The signals we have gathered are combined with corporate shared value – thinking, and both are interpreted through the Kondratieff – wave theory. Based on our sample of five cases, along with a framework that supports our interpretation, we suggest the ethical motivations as backbone of organisations is a relatively strong future sign that has potential for strengthening in the sixth wave context.