Dual market competition and deposit rate setting in Islamic and conventional banks

This paper addresses the issue of competition in dual banking markets by analyzing the determinants of deposit rates in Islamic and conventional banks. Using a sample of 20 countries with dual banking systems over the 2000–2014 period, our results show significant differences in the drivers of Islamic and conventional banks' pricing behavior. Conventional banks with stronger market power set lower deposit rates but market power is not significant for Islamic banks. In predominantly Muslim environments, conventional banks set higher deposit rates and further higher when their market power is lower. Whereas conventional banks are influenced by the competitiveness of Islamic banks, Islamic banks are only affected by their peers in predominantly Muslim countries. Our findings have important implications regarding competition and bank stability in dual banking markets.     

Contained crisis and socialized risk: Unconventional monetary policy by the Bank of Japan in the 1890s

In the 1880s, Japan experienced its first stock investment boom, which was highly leveraged by the banking sector. In 1890, its first financial crisis occurred and triggered a de-leveraging process. With a high lower bound of the conventional interest rate intervention under the fixed exchange rate regime, the Bank of Japan decided to implement a massive securities purchases first time among major industrial economies and continued this unconventional policy until the early 1900s. We examine how the unconventional intervention for a decade affected the stock prices and the trade volumes, and show that the upward distortion in market pricing was considerable and that the equity-risk premium accordingly dropped, which meant socialization of the risk associated with the industrial investment.     

Assessing Financial Performance of Malaysian Islamic and Conventional Commercial Banks Using Financial Ratios

A rapid growth of Islamic banking has led the Malaysian economy to gaining greater prosperity than before. Presently, there are more than 20 Islamic banks operating in Malaysia. Financial ratios calculated from the categories of liquidity, profitability, risk and solvency, and efficiency of banks can be used to gauge the overall financial performance of the banking industry. The objective is to assess the overall performance of Islamic banks as well as conventional banks in Malaysia using financial ratios. The findings indicated that conventional commercial banks in Malaysia do have better quality assets, are more liquid, and are more profitable than Islamic banks. Total expenses in conventional banks are much higher, which may affect profitability and the significant amount of non-performing loans （NPLs）, thus increasing solvency risk. The findings show positive insights of Islamic banks, whose confidence and trust are rising, over a short period with strong improvements in asset utilization, effective management, and expenditure control. This comparative study clearly identified that conventional banks are better financial performers compared to Islamic banks in Malaysia during the period of 2006-2010.     

关于山区公路常规桥梁的设计探讨

由于山区复杂特殊的地质地貌,给山区公路桥梁的设计和施工带来更多困难。本文从山区公路桥梁的特点出发,探讨山区公路常规桥梁的设计问题,为具体设计提供一定的理论参考。     

能源结构调整的税收政策选择

能源是经济发展的动力,常规化石能源储量限制及其带来的环境问题已经成了经济发展的瓶颈因素,发展丰富、清洁的新能源极为迫切,但在现行市场机制下,能源产业的外部成本和外部收益均未得到有效体现,能源市场的发展存在着市场失灵,为此,可以通过附加税收政策内化常规化石能源的外部成本和优惠税收政策内化新能源的外部收益,以实现能源结构的调整。     

Reduced tillage and nitrogen effects on soil water dynamics and maize (Zea mays L.) yield under semi-arid conditions

Soil water and nutrients are critical drivers of crop production for smallholders of southern Africa. A three-year study was conducted to assess the effect of integrating single and double ploughing, ripping and planting basins with nitrogen fertilizer (0, 10 and 20?kg?N?ha^–1) on soil water dynamics and maize (Zea mays L.) yields. The experimental design was factorial with four tillage methods and three nitrogen levels as treatment factors. The study was conducted under semi-arid conditions of Zimbabwe. Tillage methods had similar soil water patterns in the profile and no tillage?×?N interaction effects were observed on soil water dynamics. Soil water penetrated deeper into the profile under ripper and basin methods than conventionally ploughed treatments. Nitrogen increased maize yields (14–96%) and rainwater-use efficiency (20–92%) regardless of tillage methods and growing season quality. However, more studies are required to explore complementary techniques that can improve rainwater capture and prolong soil water storage, and improve soil fertility.     

Measuring market distortion: international comparisons,policy and competitiveness

This paper develops a framework to simultaneously estimate production possibility frontiers and measure distortions in factor and product markets. The econometric results, based on a panel of 61 countries over the period 1970 through 1985, reveal very little distortion in factor markets but considerable distortion in product markets. In addition, the distortions tend to vary with the cyclical behaviour of economic activity. Further, the results suggest that in order to improve efficiency, commercial policy should aim at reducing product-market distortions rather than factor-market ones.     

悬移支架在嘉乐泉煤矿高档普采工作面的应用实践探讨

悬移支架是介于大型综采支架和单体液压支柱之间的一种较为新型的支护设备,具有许多无可比拟的优点。太原嘉乐泉煤矿根据井下煤层赋存情况,大胆变革,采用悬移支架代替单体柱Π型梁的支护方式,提高了煤炭资源回收率,大大节约了材料费用,杜绝了顶板事故,取得了良好的效果,对同类条件机械化矿井实现高产高效具有较高的借鉴价值。     

传统经济增长方式导致环境危机的经济学分析

环境资源是一种公共资源,传统经济增长方式带来了严重的环境污染问题,环境问题严重制约着我国经济增长和发展,因此传统的数量型经济增长方式已难以为继,转变现有的经济增长方式势在必行。从稀缺、欲望、市场机制和资源配置等经济学的重要范畴及其相互关系分析它们与资源环境危机之间的必然逻辑关系,结果表明传统经济学在基础层面上不适合指导人们的经济活动,应当建立新的经济学,把环境资源的稀缺性引入经济系统中,使其逐渐成为经济系统的内生变量,以拓宽经济学的研究视野。     

从合作原则的违反和语境理论看《后宫甄嬛传》会话含意

小说《后宫甄嬛传》的经典对白是其特色,作者借助大量人物对话塑造了生动的人物形象,进而挖掘故事的主题。从语用学的角度,运用Grice的会话含意理论中的合作原则和语境理论分析《后宫甄嬛传》中会话含意是如何产生的。