新自由主义与国际经济法

全球性经济危机的危险性使人们对新自由主义产生了质疑,某些现行国际经济法制度的缺陷也日渐显露。WTO体制内各国保护主义可能抬头,国际金融体系的破绽使得加强监管和完善体制成为当务之急,从而弱化了自由主义色彩。国际经济法律秩序面临重组,这给各国提出了新的课题。但是在全球性经济衰退到来之际,新自由主义所体现的国际经济自由和开放仍然十分重要,其制度性的缺陷可以通过在危机之际建立国际经济合作机制得以修正。由于中国对外开放是在新自由主义的国际大环境下进行的,所以金融危机对新自由主义的冲击,对于中国也是一场严峻的挑战。但是,以中国的经济规模和成就,中国在国际经济法律制度和秩序的重组中也获得参与国际经济规则创制的难得机遇。     

新一轮西部大开发需要建立良性循环的投融资模式

西部大开发战略实施以来,国家给予了西部大量财政和银行信贷的支持,但迄今为止,西部地区还没有建立良性循环的投融资体系,在新一轮西部大开发过程中,西部地区发展面临的最大难题依然是资金瓶颈。西部投融资如何实现从政府主导型开发模式向市场主导型模式的转变,事关新一轮西部大开发的成败。     

The political economy of local government financialization and the role of policy diffusion

By analyzing why English local governments have made extensive use of long-term market loans with embedded derivatives, this paper seeks to contribute to the growing literature on local government financialization. Using an original, large-N panel dataset for the period from 1998 to 2014, we show that the configuration of the local political economy is an important driver of financialization processes: a Labour Party majority as well as fiscal and economic stress make it more likely that councils adopt risky financial instruments. As the use of financial innovations has also diffused geographically, policy diffusion impacts local governments as well. Highlighting the conditional effect of finance sector power, which only increases the use of financial innovations in very large councils, as well as the temporal dimension of fiscal and economic stress, we create ample avenues for further research.     

公共财政体制改革与和谐社会建设

财政体制的完善程度直接决定着政府化解冲突、稳定社会的能力。当前我国所面临的各种突出的社会矛盾,其背后往往都能找到财政体制缺陷的影子。从财政收入和财政支出等方面完善公共财政体制,是缓解社会矛盾与冲突、构建社会主义和谐社会的重要制度条件。     

晋商与中国近代金融

发迹于 15世纪末的晋商 ,在 19世纪 2 0年代创建了山西票号 ,从商贸领域挺进金融领域。在此后的几十年间执全国金融业之牛耳。 2 0世纪 2 0年代前后 ,随着票号的消亡 ,晋商迅速退出历史舞台。其辉煌与衰败都既有深刻的社会和历史原因 ,又有自身特性的原因。     

“金融核心论”探析——纪念邓小平同志诞辰100周年

邓小平同志的“金融核心论”,精辟而又深刻地揭示了金融在现代经济中的地位和作用。本文根据自己的学习体会,在指出邓小平“金融核心论”发展了马克思主义金融理论的基础上,着重探析了“金融核心论”的深刻内涵,并根据完善社会主义市场经济体制的要求,提出了建立有中国特色的现代金融体系的基本框架构想,以此纪念邓小平同志诞辰100周年。     

论非正式金融与正式金融的关系

非正式金融、正式金融与违法金融有着不同的界定。非正式金融与正式金融在一国的金融体系中起着同等重要的作用,二者之间存在着竞争、互补及转化的关系。因此,我们应该正确、辩证地看待非正式金融在经济中的作用,为其提供制度保障和服务体系,促进其健康发展。     

The Correlation Effect of Land Finance to Basic Public Service:An Empirical Study on Compulsory Education,Health and Social Services

Local governments are constantly disturbed by land finance about the supplying effectiveness of basic public services. With the steady deepening of the financial reform, this disturbance has reverse effect on the local government reform process. Through literature review of existing land finance and public service, this research constructs the relational theory model of land finance and product supply of basic public services, in order to theoretically interpret the relations between land finance and economic or non-economic public service products, for better distinction. With the aid of random and fixed effect model regression analysis, this paper clarifies the significant impact of land transfer and financial autonomy for the supply of basic public services. Furthermore, with the robustness test, it is found that increasing land finance basic public service provision would generate negative external tropism. Therefore, we suggest proper adjustment of the relationship between the central and local land fiscal configuration, optimizing the structure of land tax, enhancing fiscal autonomy of local governments, and promoting the reform of land finance, for the effectiveness of basic public service provision.     

Opting for Openness: Capital Mobility and Monetary Sterilisation in Malaysia

Malaysia gained attention for its use of capital controls in 1998, but since the early 2000s it has emphasised its commitment to an open capital account, despite experiencing volatile capital flows. As well as opting for financial openness, Malaysia chose to manage the value of its exchange rate after de-pegging from the US dollar in 2005. In a bid to escape the macroeconomic constraints that arise from capital mobility, Malaysia also chose to sterilise a large portion of capital inflows. It then made a further choice to use market-based sterilisation instruments more than regulatory sterilisation measures. These choices have carried costs and led to a build-up of economic risk. Three interrelated factors explain these choices: Malaysia’s strategy to manage the stigma arising from its imposition of controls in 1998, the increased level of financial integration that followed from this strategy, and the politically privileged position of groups that have benefitted from Malaysia’s commitment to capital openness.     

资本制度变迁的财务学解析

本文运用财务理论系统解析了资本制度变迁的决定因素,不仅为深化公司资本制度问题研究拓展了新的视野,也对我国公司完善财务治理结构,建立更加有效的资本市场机制,以及为我国《公司法》的实施和进一步改革提供了更加科学的理论根据。