The economic effects of foreign bank presence: Evidence from the Philippines

This study examines the economic effects of the liberalization of foreign bank entry in the Philippines from 1990 to 2006. The findings provide strong evidence on the dominance of competition effects from foreign bank presence which lead to the reduction in the profitability and overhead costs of domestic commercial banks. These findings, which reveal that both the actual market penetration and mere presence of foreign banks seem to exert competitive pressure to domestic banks, imply that foreign banks may serve as an effective competitive force, reducing the excess profits earned by domestic banks and compelling domestic banks to update their production technologies and techniques to improve their cost efficiency.From a policy perspective, the findings on competition effects of foreign banks in the domestic banking system justify the liberalization of foreign bank entry in the Philippines. The main findings demonstrate that the goal of banking liberalization in transforming domestic banks to be more competitive and efficient works considerably well in the case of the Philippines. Aside from the policy of easing the entry of foreign banks, bank-specific conditions can have significant impact on the performance of domestic banks. Therefore, a sustained improvement in the efficiency of domestic commercial banks requires not only liberalizing the entry of foreign banks, but also on continued strengthening of domestic prudential regulation and supervision on the commercial banking system.     

基于公允价值计量的银行监管改革

在全球性金融监管改革进程中,美国次贷危机带来的影响是重大而深远的,人们重新从不同角度审视过去的监管制度。本文正是从在此次危机中受到广泛争议的公允价值计量角度出发,审视公允价值计量的性质与特征,审视其与银行监管的适应性关系。并基于其本质发现公允价值计量在银行监管体系中的不足和缺陷,进而寻找发挥其效力、规避其不足的监管措施。     

住宅房地产税收的功能探析

住宅房地产在购销及保有环节涉及众多的税种,这些税种的税收功能存在突出差异。营业税具有突出的财政收入功能,但在收入调节方面有制度上的缺失;土地增值税具有鲜明的产业调控色彩,但征收办法的缺憾使其不能有效发挥作用;预期征收的房产税具有调节收入的功能,但在税制设计上存在征收制度和利益分配重构等制度困扰。建议针对相关税种的功能特点进行有针对性的制度改良,以促进我国住宅房地产业的健康发展。     

缓解人民币升值压力的思考——巴拉萨-萨缪尔森效应与人民币汇率升值

2005年人民币汇率制度改革以来,人民币升值压力和预期始终没有消除,造成我国宏观经济困境。根据巴拉萨-萨缪尔森效应,随着我国经济的快速追赶,人民币实际汇率有长期升值趋势,而当我国可贸易品部门的单位劳动成本相对下降,这一趋势就通过名义汇率升值压力体现。巴拉萨-萨缪尔森效应提示我们可以通过一般物价水平调整缓解升值压力,即采用温和的结构性通胀策略降低升值预期。这对于稳定我国宏观经济,消除外汇储备泡沫,转变经济结构具有积极作用。     

国际金融市场与国际原油期货市场溢出效应实证检验——基于VAR-BEKK模型的分析

文章通过构建VAR模型和BEKK模型对道琼斯股票市场、美元/欧元汇率市场与国际原油期货市场的动态关系进行了实证检验。结果表明：道琼斯股票市场与WTI原油期货市场存在双向的价格溢出效应,以及前者向后者的单向波动溢出效应;美元/欧元汇率市场存在向WTI原油期货市场单向的价格溢出效应和波动溢出效应。所以,国际原油期货市场与国际金融市场联系紧密,国际原油的金融属性日益体现,其价格变动更多受外部国际金融市场风险影响。     

异质性企业出口行为的实证研究——基于中国企业面板数据

在近年兴起的新—新贸易理论中,出口行为与企业生产率之间的双向因果关系的实证研究逐渐成为主要的热点领域。许多学者用不同国家企业数据验证了自我选择效应和出口学习效应两个逻辑相反的假设。我们利用中国企业的微观层面数据对该命题进行验证。结果表明,自我选择效应显著,而出口学习效应不显著。最后在分析中国企业国际化行为特征的基础上,给出政策建议。     

Churn analysis for an Iranian mobile operator

To survive in the challenging environment of a global market, organizations must recognize and analyze customer attitudes. To be competitive, organizations must recognize and forecast customer preferences and behaviors to maximize customer retention before their rivals do so. This research identifies factors that affect customer churn, the single most valuable of an organization's assets. One year's data from call log files relating to 3150 customers were selected randomly from an Iranian mobile operator call-center database. Binomial Logistic Regression was the method of analysis used in this research. The results of this research indicate that a customer's dissatisfaction, their amount of service usage and certain demographic characteristics have the most influence on their decision to remain or churn. The results also imply that customer status (active or inactive status) mediates the relationship between churn and the cause of churn. The Iranian government's current plan to privatize the telecommunications industry without deregulation leads to a non-square competition environment. Deregulation in favor of delegating more authorities of customer care is necessary in order to develop a square private competition environment in the Iranian mobile telecommunications industry.     

直接转矩控制技术在油田应用效果分析

介绍一种新型的电机控制技术——直接转矩控制技术,并对该技术在油田现场的应用效果进行了分析。该技术通过控制定子电压,实现了对电机转矩的直接控制。现场节能测试结果表明,节能效果显著。因此,该技术具有一定的经济效益和推广应用价值。     

产业集聚与空间集聚的协调发展研究

自20世纪90年代以来,中国沿海地区出现了一批别具特色的产业集聚区,有力地推动了当地经济的快速发展。各地政府开始纷纷借鉴沿海地区经验,通过引导部分产业向该地区集聚以实现经济增长,带动城市化建设。探讨产业集聚与城市空间集聚之间是否协调发展,成为当前关注的焦点。文章阐述了产业集聚与空间集聚协调发展的内涵,并从理论上分析了两者间存在的促进机制和反馈机制。以中国制造业为例,实证分析了制造业产业集聚与城市空间集聚的关系,发现自1990年以来我国产业集聚和城市空间集聚之间呈现出一定的协调性,并在此基础上给出了相关政策建议。     

挪威酒精饮料税收制度改革及其启示

挪威在酒精饮料税收制度方面不但成功地进行了消费税改革,限制了酒精饮料消费,纠正了外部效应,而且还对酒精饮料包装开征了环境税,实施了专款专用政策,平衡酒精饮料消费的私人成本与社会成本,加大违章违法行为惩处力度,并在酒业领域实施专卖制度、许可证制度。这些改革使挪威的酒精饮料税收制度从以税收为基础向以控酒为基础转变,其改革的经验对我国酒精饮料税收制度改革也提供了值得借鉴之处。