Assessing the efficacy of borrower-based macroprudential policy using an integrated micro-macro model for European households

We develop an integrated micro-macro model framework that is based on household survey data for a subset of the EU countries that the Household Finance and Consumption Survey (HFCS) contains. We use the model for the purpose of assessing the efficacy of borrower-based macroprudential instruments, namely loan-to-value (LTV) ratio and debt service to income (DSTI) ratio caps, and illustrate its outcome for four European countries. The simulation results from the model can be attached to bank balance sheets and their risk parameters to derive the impact of the policy measures on their capital position. The model framework also allows quantifying the macroeconomic feedback effects that would result from the policy-induced reduction of demand for mortgage loans. An assessment as to the comparative efficacy of LTV- versus DSTI-based policy suggests that DSTI caps may be more effective in containing household risk.     

绿色农产品品牌建设探析—以普洱市为例

品牌是消费者识别绿色农产品品质的最重要标志,也是绿色农产品赢得市场的关键。以国家绿色经济试验示范区普洱为例,通过SWOT分析,探讨了该市绿色农产品品牌发展的优势、劣势、面临的机遇与威胁,同时对绿色农产品品牌建设现状、存在的问题进行了分析,提出应从提高品牌意识、塑造品牌形象、培育龙头企业等方面来促进绿色农产品品牌发展。     

从陕西猕猴桃产业的发展看如何构建陕西绿色农业产业集群

作为一种独特的产业集群模式,绿色农业产业集群对陕西省的经济发展起着重要的作用。从陕西猕猴桃的现状出发,以陕西猕猴桃产业发展所面临的问题为切入点,探讨了陕西省构建绿色农业产业集群的一些思路,为陕西绿色农业产业集群的发展提供了启示。     

终极控制人特征和创业导向关系的实证研究——市场化进程的调节作用

以中国创业板上市公司为样本,探讨了市场化进程对终极控制人特征与企业创业导向间关系的调节作用。层次回归分析结果发现:整体强度方面,非国有企业比国有企业具有更强的创业导向,终极控制人存在两权分离的企业的创业导向比不存在两权分离的企业更强;选择倾向方面,国有企业和存在终极控制人两权分离的企业更倾向于选择资产增值型创业导向;市场化进程负向调节终极控制人特征与创业导向选择倾向的关系,这说明市场化进程的提高可在一定程度上缓解终极控制人创业导向选择中的代理问题。     

Russian agriculture during Putin’s fourth term: a SWOT analysis

Russian agriculture is coming off a successful period under Minister Alexander Tkachev. Despite his successes, new agricultural leaders were named in May 2018 to guide agriculture during Putin’s fourth term. The article analyses the condition of and prospects for the agricultural sector during 2018–2024, using a SWOT framework (strengths, weaknesses, opportunities and threats). The analysis examines four strengths, six weaknesses, four opportunities and three threats.     

The impact of credit constraints on the performance of Chinese agricultural wholesalers

This article evaluates the impact of credit constraints on the performance of Chinese agricultural wholesalers. We estimate a stochastic frontier function using transaction and credit data of agricultural wholesalers from across China to estimate the efficiency and productivity impacts of credit constraints on sales of affected agricultural wholesalers. Empirical results show that micro- and smaller wholesalers are disproportionally impacted by credit constraints and that eliminating these constraints would increase the sales of affected agricultural wholesalers by approximately 15%. Thus, policies aimed at providing credit access for these wholesalers would significantly boost the performance of smaller agricultural wholesalers while improving the overall performance of the Chinese food supply chain without requiring additional non-credit inputs.     

BUILDING THE MANAGERIAL CAPITAL OF AGRICULTURAL COOPERATIVES IN AFRICA

Agricultural cooperatives in Africa tend to be community‐based organizations defined by principles of inclusion, voluntarism, democracy, equity, autonomy, mutuality and solidarity. This means that they generally operate in accordance with the principles endorsed by the International Cooperative Alliance (ICA). However, only a few of these organizations are successful in commercializing the agricultural produce of their members. In this study, we argue that growth‐problems leading to commercial failure and organizational degeneration in these cooperatives can be attributed to a lack of managerial capital. Drawing on the literature and evidence from the field we set out key management solutions for counterbalancing cooperative principles in the context of rural Africa. These solutions were taught to the leaders and managers of 362 cooperatives at four training events held in Madagascar, Malawi and twice in Uganda. Using a production function for cognitive achievement and key informant interviews, we find that our training contributed to the adoption of the proposed solutions by some of the cooperatives. Using the Ugandan sub‐ sample, we estimate an OLS regression and a PSM model to show that the training translated into higher revenues per member generated through collective commercialization.     

哈尔滨市道外区生态型都市农业发展战略研究

哈尔滨市道外区农业属于都市型农业,在哈尔滨市的农产品供应和生态环境的改善中占据着重要的地位。文章应用SWOT方法分析了道外区的自然资源优势和社会经济优势,同时分析了道外区发展生态经济的劣势,根据统筹城乡两种资源、优化经济结构、打破城乡二元结构、发展生态产业的发展理念,提出了道外区发展生态型都市农业的总体发展战略,规划了功能分区和产业布局,并提出了具体对策与建议。     

加快南宁市现代农业发展的若干思考

发展现代农业是实现新农村建设目标的首要任务。南宁市要发展现代农业,走出具有南宁特色的路子,就必须站在经济社会发展全局的高度,站在所有经济要素合理流动的整体中,坚持走工业反哺农业、城市支持农村的道路,积极推进以工促农、以城带乡,积极调整和妥善处理工农城乡关系,改变工农关系失调、城乡发展失衡的现状,努力形成工业与农业相互促进、城市与农村共同繁荣的新局面。     

国外农业巨灾保险管理及借鉴

我国是农业巨灾频发且后果较为严重的国家,农业巨灾给人民生命财产造成重大损失,而目前我国还没有建立农业巨灾保险体系,农民面对农业巨灾,缺乏基本生产和生活的保障。我国应借鉴国外巨灾保险发展的先进经验,加快农业巨灾保险的立法工作,建立多层次的风险分散机制,建立农业巨灾保险基金,逐步构建完善和谐社会下的巨灾保险体系。