建立我国排污权交易法律制度的设想——从经济法理念与法经济学角度分析

排污权交易制度是经济法与环境法中一项新兴的法律制度,其中包容了经济法学、环境法学、法经济学等多门学科理论知识。阐述排污权交易制度所体现的经济法理念——可持续发展理念,以及从科斯定理等法经济学角度分析,有利于探讨在我国建立排污权交易法律制度的可能。     

略论证券犯罪案件的侦办

证券犯罪是随着证券市场的发展而产生的金融犯罪。随着证券、期货市场的日益活跃,证券、期货违法犯罪现象明显增多,新的证券、期货违法犯罪手段和形式也层出不穷。因此笔者认为,打击证券犯罪行为,必须明确证券犯罪的特点,揭示侦办证券犯罪案件所面临的问题,研究防范证券犯罪的对策,总结防范证券犯罪的经验,从而为证券市场的健康发展保驾护航。     

European Climate Policy: Toward Centralized Governance?

The EU emissions trading system (ETS) is the first large-scale international emissions trading system and a "cornerstone" in EU climate policy. A key element in the ETS implementation process is deciding upon the ceiling ("cap") for the emissions included in the ETS. Over time, a significant change and centralization of this model has taken place. In order to understand this development, we need to acknowledge the increasing acceptance of stronger centralized governance among the member states due to ETS pilot phase problems; take into consideration frustration in the European Commission over complex and differing National Allocation Plans; and add the fact that the Kyoto Protocol target was getting nearer and a good performance of the "flagship" ETS was becoming increasingly important. Hence, although the case supports the importance of acknowledging the multilevel character of the EU, it still emphasizes the key role of changes in member states' interests and positions for understanding outcomes.     

Do street traders have the ‘right to the city’? The politics of street trader organisations in inner city Johannesburg,post-Operation Clean Sweep

Street trader organisations are paradoxical objects of study. Their claims resist being analysed through the ‘right to the city’ lens, so contested are rights to inner city spaces between multiple users, not all of them in dominant socioeconomic positions; and so ambiguous is the figure of the street trader, oppressed but also appropriating public space for profit, increasingly claiming, in neoliberalising cities, an entrepreneurial identity. In the aftermath of the 2013 ‘Operation Clean Sweep’ (in which the City of Johannesburg unsuccessfully attempted to evict street traders from its inner city), this paper unpacks the politics of street trader organisations: how they organise their constituencies, frame their claims, forge unlikely alliances and enter into disempowering conflicts in engagements with a divisive municipality.     

Meeting Human Development Goals with Low Emissions : An Alternative to Emissions Caps for post-Kyoto from a Developing Country Perspective

This paper proposes a post-Kyoto scenario on commitment issues from a developing country perspective in which commitments by developing countries will be linked to human development goals as the first priority and ultimate goal, and then translated to carbon goals. Three different types of commitments are discussed with particular reference to developing country participation, including voluntary, conditional and obligatory. For low-carbon development, there should be no luxurious emissions but human development needs should not be compromised. A progressive and internationally coordinated taxation on carbon is suggested as an incentive mechanism under this approach. However, there are a few issues requiring further examination, including specification of basic needs and determination of progressive tax rates.     

国际碳交易机制复杂化及中国应对

目前,国际碳交易机制网络群体呈现复杂化态势,碳交易机制复合体、碳交易机制集群与碳交易机制联结相互渗透,同时其内部也进行着良性协同、建设性合作与功能性竞争的有序互动。在无政府状态、利益认知差异以及全球气候治理体系转型等普遍性因素影响下,国际碳交易机制复杂化的成因有着自身的特殊性,是其发展进程中的必然产物。另外,国际碳交易机制间的互动具有双重效应,其协同合作将会带来经济发展与气候保护的双赢结果,而如果互相掣肘则会增加碳交易成本甚至造成负减排。因此,中国在复杂化的国际碳交易机制中推进新型碳外交并实现碳中和目标,既需要充分发挥自身团结国际力量的优势以及国内和国际双循环新发展格局的核心作用,促进碳交易机制间的协同与衔接,又要积极践行《巴黎协定》关于碳交易机制整合的倡议,与各国及相关国际组织共同将碳交易机制整合的规范推广到整个国际社会以及其他议题的全球治理之中。     

多边贸易体制中过渡期条款的内涵与法理基础探析

多边贸易体制中的过渡期条款是基于成员方参与规则建设能力的差异,在平等适用规则的前提下,成员方通过谈判,在特殊时间段内对成员权利义务实行差异化配置的规则类型。这类条款来源于多边贸易体制在发展进程中逐步体现出的包容性,在根本上来源于发达成员与发展中成员间的重大差异,也体现了发展中成员维护自身国家经济安全的迫切需求。基于功能主义视角,过渡期条款产生和存续的法理基础主要体现为,这类条款在维护国家经济主权、修正制度缺陷、呼应发展中成员的特殊与差别待遇以及促进多边贸易体制内的公平互利等方面具有重要作用。世界贸易组织成员鲜明的二元结构特征决定了过渡期条款在未来尚有继续存续的空间。     

The Governance System Reason of Informal Financing Risk and Governance Mode Choice——Based on the Case Study of Wenzhou Area

Informal financing risk not only affects the development of the real economy, but also endangers the stability of the society. It is urgent to study the causes and risk management mode of informal financing. In Williamson's discriminating alignment hypothesis, this paper constructed an informal financing discriminating alignment model to assess Chinese informal financing governance reason and mode. We perform a Wenzhou case study and conclude that the governance model and transaction characteristics do not match, which is the governance reason for financing risk. Establish the third-party governance is the best solvency for this problem. Conclusion of this article provided a policy reference for controlling the risk of informal financing so as to provide financial support for entity and achieve steady economic development.     

内幕交易惩罚性赔偿制度的构建

惩罚性赔偿的数额高于一般损害赔偿的数额。该高出的数额赔偿的是侵权行为对受害人权益和社会整体利益造成的无法用金钱衡量的无形损害。损害填补功能是惩罚性赔偿制度的正当性基础。内幕交易将内幕人的获益全部转嫁为一般投资者的损失，使证券市场失去公平与公正，使有意证券投资的人失去信心和投资的欲望，干扰证券的筹资功能、资本定价功能和资本合理配置功能，影响证券市场的健康发展。内幕交易造成的无法用金钱衡量的社会整体利益损害不仅给一般损害赔偿带来了理论难题和制度障碍，而且无法为一般损害赔偿所全部填补，须由惩罚性赔偿制度予以解决。当日、善意从事与内幕交易反向交易的投资人有权向内幕交易人请求其买入或卖出价格与消息公开后合理时间内收盘平均价格之间差额合理倍数的损害赔偿。     

上海证券市场波动性现状与卖空交易机制建立

在金融市场微观结构理论分析框架下,交易机制的变革以市场质量为评判基准.运用相关模型的实证研究表明,上海证券市场存在着较为明显的波动聚集、波动持续现象,市场整体波动性较大.根据卖空机制的制度功能分析,卖空限制的存在增加了该市场的波动性水平,降低了市场质量,因此有必要在该市场建立卖空交易机制以降低其波动性水平,在建立模式的选择上可以参照香港建立证券登记结算公司模式的卖空机制.