中国的金融市场开发要打造新的模式

当今全球的金融市场上,市场对金融系统的压力越来越大,传统的融资方式已经不能满足投资者的需要。一种新的金融工具—贷款证券化,使资金拥有者可以通过这一渠道将资金转移到贷款者手中。这种形式可以很好地解决当今社会许多融资难的问题,如果能够在我国的金融体系中得到完善,会极大地促进我国的经济建设,也能很好地解决我国金融体系的现实问题。     

财政存款、银行竞争与僵尸企业形成

银行以优惠利率贷款为低质企业“输血”,是企业僵尸化的重要成因。然而,基于中国背景的文献,对银行“输血”动机的研究并不充分,本文从地方财政存款影响银行信贷分配的视角,分析僵尸企业形成的内在机理。首先,通过构建理论模型对银行竞争财政存款及影响企业融资和投资绩效进而僵尸化的逻辑进行刻画,而后依据省份财政存款、银行竞争与微观企业财务数据,对理论推论进行了验证。研究发现,财政存款占当地存款比重越大,企业僵尸化概率越高,并且银行竞争助长了企业僵尸化。此外,基于工具变量估计处理了核心变量的内生性问题,并进行了多种稳健性检验。机制检验表明,财政存款的信贷分配效应,促使企业过度投资,导致经营绩效恶化,进而提高了企业僵尸化概率,银行竞争则会加剧该效应。本文拓展了财政存款的经济效应与僵尸企业形成方面的文献,对于僵尸企业治理有一定参考意义。     

财政性存款问题研究

财政性存款制度是人民银行实施准备金管理的重要手段,以往对于银行机构漏缴、少缴财政性存款的问题,不是认定人民银行监管不力,就是认定银行机构自律不足,往往流于局部。本文尝试从财政性存款制度的政策起源、目标变迁为出发点,从人民银行、银行机构、财政部门三方的深层原因进行分析,进而提出了分三步改进、改革财政性存款制度的政策建议。     

存款保险制度关键要素比较分析

存款保险制度是市场经济体系中保障银行业稳健发展的基础性制度安排、国家金融安全网的重要组成部分。本文在对存款保险制度要素架构国际经验比较的基础上,针对目前我国在存款保险制度构建过程中存在的一些分歧和争议,提出应着重解决六个关键问题,及早以明确的存款保险制度取代政府隐性保险。     

The impact of network size on bank branch performance

Despite significant technological innovation in retail banking services delivery, the number of US bank branches has grown steadily over time. Further, more and more of these branches are held by banks with large branch networks. This paper assesses the implications of these developments by examining measures of branch performance and asking how these measure vary across institutions with different branch network sizes. Our findings suggest that banks with mid-sized branch networks may be at a competitive disadvantage in branching activities. We find no systematic relationship between branch network size and overall institutional profitability, perhaps because banking organizations optimize the size of their branch network operations as part of an overall strategy involving both branch-based and non-branch-based activities.     

关于存款增长模型的实证研究

本文分析了某国有商业银行储蓄存款和对公存款近二十年的增长情况,并应用传统的回归方法对存款增长进行了研究,这对银行建立存款模型有实际的意义。     

论东胜煤田杭东地区特大型铀矿的发现

铀矿作为我国重要的战略资源,在东胜煤田中的重大发现,具有重大意义,其通过煤田勘查的发现,突破了传统的找矿方法,展开了新的找矿理论,为今后的煤铀多矿种综合勘查具有重要的指导意义。     

Bank fragility, “money under the mattress”, and long-run growth: US evidence from the “perfect” Panic of 1893

This paper examines how the US financial crisis of 1893 affected state output growth between 1900 and 1930. The results indicate that a 1% increase in bank instability reduced output growth by 2–5%. A comparison of Nebraska, which had one of the highest bank failure rates, with West Virginia, which did not experience a single bank failure, reveals that disintermediation affected growth through a portfolio change among savers: people simply stopped trusting banks. Time series evidence from newspapers indicates that articles containing the words “money hidden” significantly increase after banking crises, then slowly die out.     

储蓄合同中的法律问题

储蓄合同是我国现行法律所没有明确规定其名称及法律适用的无名合同，处理该类合同纠纷应适用合同法总则的一般规定并类推适用类似的有名合同的法律规定。储蓄合同是单务合同、有偿合同、实践合同、要式合同、格式合同，其一方主体具有特定性，存款机构履行支付本金和利息的义务须经存款入的请求。储蓄合同是转移标的物所有权的合同。     

The determination of commercial bank reserve requirements

Excess reserve ratios have been studied extensively and are believed to be endogenously determined. In contrast, required reserve ratios are conventionally treated as exogenous. However, there are public policy reasons for a positive response of reserve requirements to interest rates. These are opposed by private incentives to secure lower requirements when their cost rises with interest rates. Several kinds of evidence support the hypothesis that reserve requirements are inverse functions of interest rates, sometimes with long lags that reflect the political process. The results also suggest that banks are not passive creatures of regulation but mold their environment.