Banking integration in ASEAN-6: An empirical investigation

Banking integration is widely considered as the last stepping stone of economic integration, especially at the regional level. This paper aims to introduce extended measures of banking openness and the overall balanced degree of integration through capital flows. Using the quarterly data from the ASEAN-6 economies (Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam) from 1996Q4 to 2016Q4, the obtained empirical results reveal that: (i) the degree of banking openness, which measures the total inflows and outflows divided by the total banking assets of the given country, remains low and even slightly decreases, despite the increasing cross-border banking and greater economic links among ASEAN-6; (ii) the overall degree of balance, which calculates the balance and the diversification of outward and inward integration, fluctuates over time but reaches the well-balanced level. Furthermore, the research highlights main drivers of the banking integration in this region, such as regulatory quality, bank size and the global credit risk. These findings have important policy implications for banking stability and integration in ASEAN-6.     

Does fiscal policy influence monetary policy? The case of Spain, 1874-1935

The Spanish peseta never formally belonged to the gold club, neither the classical nor the exchange-rate gold standards. It has been traditionally argued that the reason was the predominance of deficits in the Spanish budget from 1874 to 1935. The financing needs of the Treasury led to money creation and, consequently, to sacrificing the gold commitment and a fixed exchange rate. Applying a stationary VAR (Vector AutoRegressive) model, this paper estimates the dynamic link between budget and money and tests whether Spanish fiscal policy actually influenced monetary policy. The results confirm the dominance of fiscal policy for the period and, therefore, provide empirical support to the idea that the problems of the Treasury were behind Spain’s renouncement of gold.     

不锈钢供水管道中铬元素迁移及防控技术

选择国内企业生产的不锈钢供水管道,用余氯和硬度分别为2、100 mg/L的浸泡液浸泡24 h,并检测水质中六价铬的变化。结果显示,浸泡液中的六价铬变化与不锈钢供水管道的工艺有很大关系,焊缝处理、打磨抛光、酸洗钝化三个条件都对六价铬的迁移有很大影响。     

下一代电子商务网络基础IPV6协议分析与研究

下一代电子商务的网络核心协议就是IPv6,在IPV4地址大量匮乏的情况下,而企业尤其是电子商务企业、电信运营商、终端用户对IP地址大量需求的情况下,IPv4过渡到IPv6势在必行。本文分析了IPv6协议,并给出企业客户部署IPv6的配置方案,并对技术发展趋势作一个展望。     

纳米二氧化钛光催化降解罗丹明6G的应用研究

采用醇盐水解法制备纳米二氧化钛,最佳制备条件为醇：酯：蒸馏水=1：1：10（体积比）;搅拌时间1h;煅烧温度为500℃;煅烧时间为2h。制得的纳米TiO2为单一晶型即锐钛矿型,平均粒径为17．32nm,比表面积为73．683m^2／g。光催化降解罗丹明6G的最佳操作条件是：TiO2用量0．5g;0．594％的H2O2溶液5mL;1．05％的FeCl3溶液1．5mL;反应时间为30min。脱色率达到98．51％。由于H2O2和FeCl3的协同作用,缩短了反应时间,提高了光催化效率。     

国际股票市场收益率和波动率的长记忆性研究

股票市场长记忆性问题是金融学研究的一个热点问题,对于市场有效性的研究和系统非线性结构的分析有着重要的意义。本文运用修正R/S分析和V/S分析两种方法对世界上28个国家(地区)的股票指数的日、周收益序列和日、周收益波动序列进行了完整的长记忆性研究。结果表明:对于收益序列,以美国为代表的大多数发达国家股市一般不存在长记忆性,而中国等发展中国家大多存在显著的长记忆性,尤其中国股市的长记忆性最强;对于收益波动序列,所有国家(地区)都具有长记忆性,并强于收益序列。     

Power,policy networks and planning: the involvement of major grocery retailers in the formulation of Planning Policy Guidance Note 6 since 1988

This paper explores a neglected issue in the study of retail strategy and store location by considering the nature of policy networks operating at the interface between retailers and central government. It argues that informal networks, coupled with the economic power of retailers and the legitimization of their activities with reference to the 'consumer interest', have served to provide retailers with an influential avenue through which they can exert power over the nature of the regulatory environment within which they operate. The paper considers the limited extant 'evidence' of the operation of such networks before moving on to outline the results of a case study. The case study reflects on new store development in the UK grocery sector since 1988 as a backdrop to an analysis of the form of policy networks operating at the interface between government departments and retail organizations. It also explores the role of other stakeholders in this process. The existence of a number of such networks is described and their role explored with reference to the involvement of retailers in the formulation and evolution of Planning Policy Guidance Note 6 on retail development.     

发达国家中小企业税收政策对我国的启示

发达国家非常重视中小企业,采取种种税收鼓励措施扶持其发展。我国没有建立起规范的中小企业税收制度,政策优惠力度不足,增值税制不完善,需要进一步建立与完善有利于中小企业发展的税收政策体系,提高税法级次,调整现行政策,加大对中小企业的税收支持力度,促进中小企业的快速发展。     

传输设备故障处理方法探讨

着重介绍如何采用排除法处理通信长途骨干网中的隐性故障     

CRM与6Sigma的一致性与差异性研究

CRM(客户关系管理)和6Sigma是两种十分重要的现代化管理方法.文章对CRM和6Sigma的一致性和差异性进行了研究,首在为两者的集成应用提供支持.