从资源枯竭之忧到资源再生之虑：碳排放研究述评

人们对资源的忧虑,经历了一个转变过程。由可耗竭资源的有限储量所带来的紧迫感趋淡。由生态承载力的衰减所引发的负面后果日益明显。从二氧化碳排放所引出的气候变化问题,是自然生态系统容纳和消除污染排放物的能力已然不足的一个反映。通过对贯穿上述认识转变过程的经济学研究文献的梳理可知,国外在此方向上的主要分析工具是气候变化综合评估模型。该类模型的优点是把经济系统与自然生态系统集成在一起,使得对碳排放的预测具有微观基础,但也因模型复杂而处理难度较高。它的一个应用是：碳减排力度是应立即强力推进。还是可渐进强化,研究文献中围绕这一问题的争论就是以气候变化综合评估模型为基础而展开的。     

Modeling loan commitments

Loan commitments represent more than 82 percent of all commercial and industrial loans by domestic banks. This paper develops a valuation model for loan commitments incorporating early exercise, multiple fees, partial exercise and credit risk. The model is analytically tractable and easy to implement. Using a sample of commercial paper backup credit lines from the Dealscan database, we show that our model prices closely match loan commitment market prices.     

The Considerations on the Development of Well-being Credit in Underdeveloped Areas of West China

党中央、国务院高度重视民生问题,并一直把关注民生、保障民生、改善民生摆在突出位置。同时,民生问题也是老百姓最关心、最直接、最现实的利益问题。而保障和改善民生离不开金融信贷的支持,切实加大对民生领域的信贷支持、大力发展民生信贷,对保障和改善民生具有重大的现实意义。本课题基于欠发达地区民生信贷现状,剖析其中存在的问题,从而提出完善民生信贷的措施及政策建议。     

Role of banks in financial inclusion in India

Financial inclusion is emerging as a new paradigm of economic growth that plays major role in driving away the poverty from the country. It refers to delivery of banking services to masses including privileged and disadvantaged people at an affordable terms and conditions. Financial inclusion is important priority of the country in terms of economic growth and advanceness of society. It enables to reduce the gap between rich and poor population. In the current scenario financial institutions are the robust pillars of progress, economic growth and development of the economy. The present study aims to examine the impact of financial inclusion on growth of the economy over a period of seven years. Secondary data is used which has been analyzed by multiple regression model as a main statistical tool. Results of the study found positive and significant impact of number of bank branch and Credit deposit ratio on GDP of the country, whereas an insignificant impact has been observed in case of ATMs growth on Indian GDP.     

关于构建我国社会信用体系的思考

本文从对我国信用体系不健全、信用环境恶化的现状出发 ,对信用体系不健全的表现进行了系统分析 ,认为信用体系不健全阻碍了我国经济的高效运行 ;并在对西方发达国家信用体系建设经验介绍的基础上 ,提出了建立和完善我国社会信用体系的政策建议。     

The Attitudes of British National Health Service Managers and Clinicians Towards the Introduction of Benchmarking

This paper describes an empirical study, conducted in three acute hospitals, of the attitudes of central managers, medical managers and clinicians towards the adoption of benchmarking. Benchmarking was portrayed in The New NHS White Paper (1997) as an important means of improving efficiency over the next decade. The present paper examines the context of change and nature of benchmarking. Findings are presented in seven sections including: the understanding which respondents had of benchmarking; their willingness to be involved in benchmarking; the existence of strategies and policies for implementing benchmarking; the relevance of existing costing information; and the role of networks in facilitating benchmarking. The study concludes that the process of change adopted contradicted most of the factors associated with creating receptivity to change. Also, that the publication of the National Reference Costs seemed to have more relevance to resource planning at central National Health Service Management Executive level, than to effecting improvements at operational level in acute hospitals.     

世界银行卡产业发展研究

随着全球经济的复苏和银行卡受理环境的改善,近年来世界银行卡产业保持着迅捷的增长势头,银行卡作为支付手段对现金和支票的替代作用也日益明显。本文从总量指标和人均指标两方面对当前世界主要国家和地区银行卡产业的交易状况进行了实证研究,分析了全球银行卡市场在区域和品牌上的分布结构,并对该产业近年来的发展趋势进行了总结与探讨。     

金融衍生品信用风险管理与制度设计的法律问题

本文以法与金融学的方法分析了金融衍生产品信用风险的双边性质,并认为,我国金融机构在信用风险管理时应采用ISDA主协议或中国银行间市场金融衍生产品交易主协议文本,并应注意文本术语的差异。立法部门和监管部门应积极借鉴发达国家金融衍生产品市场的立法经验和实务操作,完善我国的《破产法》和《担保法》,对净额结算条款、信用支持文件、信用限额和信用衍生产品等法律效力给予明确规定,以增强可操作性。     

Determinants of yield spread dynamics: Euro versus US dollar corporate bonds

This paper presents a systematic comparison between the determinants of euro and US dollar yield spread dynamics. The results show that US dollar yield spreads are significantly more affected by changes in the level and the slope of the default-free term structure and the stock market return and volatility. Surprisingly, euro yield spreads are strongly affected by the US (and not the euro) level and slope. This confirms the dominance of US interest rates in the corporate bond markets. Interestingly, I find that liquidity risk is higher for US dollar corporate bonds than euro corporate bonds. For both regions, the effect of changes in the bid-ask spread is mainly significant during periods of high liquidity risk. Finally, the results indicate that the credit cycle as measured by the region-specific default probability significantly increases US yield spreads. This is not the case for euro yield spreads.     

利率市场化条件下农村信用社贷款定价方法研究——湖南的现状考察与模式选择

提高贷款定价能力、增强贷款定价的自主性和科学性是利率市场化条件下农村信用社的必然选择.作为金融支持社会主义新农村建设主力军的湖南省农村信用社,应从自身实际情况出发,选择与之相适应的贷款定价模式--市场与成本相机抉择的成本相加定价模式,并进一步完善具有市场化特征的贷款定价机制.