Games borrower governments play: the implementation of economic adjustment programmes in Cyprus and Portugal

Research on the Economic Adjustment Programmes (EAPs) for Eurozone crisis countries has so far acknowledged the role of creditor countries and Troika institutions or has examined the economic effects or structural determinants of domestic implementation processes. The role of borrower governments as strategic actors within the ‘Troika complex’ has been neglected. Taking Cyprus and Portugal as cases in point, the article shows how reform-oriented borrower governments used the interaction with the Troika to overcome veto player opposition to programme implementation. Drawing on the two-level game and on negotiation theory, the study discusses borrower strategies in response to opposition from the court or parliament, and the costs of no agreement. Reform-oriented governments mostly used commitments to the international level or Troika pressure to pursue coercive strategies vis-à-vis domestic opponents. High costs of no agreement seem to be a necessary means to pass on political and market pressure through coercion.     

Determinants of developing country debt: the revolving door of debt rescheduling through the Paris Club and export credits

Programmes designed to alleviate developing country debt have been implemented by bilateral, commercial and multilateral creditors and sovereign debt has been restructured under Paris Club negotiations. These strategies have not been very successful at reducing the debt levels of developing countries, in part because they continue to receive export credit insurance facilities through export credit agencies (ecas). The purpose of this paper is to examine the high percentages of developing country debt owed to governmental ecas. Analysis of the external debt of low-income and lower middle-income economies at five year intervals from 1980 to 2010 finds a substantial part of the indebtedness of these economies is held by ecas. Analysis of specific sub-Saharan African countries undergoing debt rescheduling and forgiveness through Paris Club negotiations was done for Ghana and Kenya. These results show that, following debt restructuring, new export credit guarantees and/or loans were forthcoming to these countries from the ecas of the creditor countries that rescheduled their old debt in Paris Club negotiations during 2000–12.     

Why preferences and institutions change: A systematic process analysis of credit rating in Germany

This article argues that a within‐case analysis of the causes and patterns of the institutionalisation of rating in the German financial system offers fresh insights into change in the major socioeconomic institutions of advanced capitalism. Using the method of systematic process analysis, the article explores the expansion of credit rating in the German banking system from three perspectives: historical (power), sociological (diffusion) and behavioural institutionalism (prospect theory). It demonstrates that the proliferation of credit rating resulted from a change of preference on the part of large banks. With Germany as a least likely case for successfully implementing rating, the study's main lesson is that institutional analysis may benefit from incorporating behavioural institutionalism into the analysis of preference change because this cites economic motivations as causes of preference shifts and institutional changes.     

从公司信用转变看中国政府职能转变

政府职能本就因不同的时代形势与战略任务而变动调整。改革开放的新时期下,社会主义市场经济体制的各项机能日臻完善,市场也将在资源配置中发挥决定性作用,因此,全能型的抑或主导型的、审批型的抑或直接管理型的政府职能模式显然与之背道而驰。上海自贸区公司注册资本登记制度的深刻变革,将促使公司从资本信用向资产信用的转变,而曾受制于"政府之手"的公司信用之转变又恰恰烙印了新时期下中国政府职能转变的时代内涵与市场取向趋势,即把该放的权力放到位,把该管的事务管好,简政放权,有所为有所不为,充分尊重市场的决定性作用,并发挥政府的积极效用。     

论社会信用体系中的市场机制与政府职能

完善社会信用体系,需要发挥市场配置资源的基础性作用和政府在市场中的宏观调控功能,以节约交易费用,提高交易效率。在我国信用体系建设中,政府职能发挥具有必要性,政府在加强信用立法、发挥示范激励作用和社会信用体系发展的整体规划等方面应该是可以有所作为的。当然,政府的职能是提供市场信用规则,而不是直接的参与。     

拾取他人信用卡并在ATM机上取款行为应定盗窃罪

拾取他人信用卡并在ATM机上取走大量现金的行为,不能简单地套用刑法第196条第三款之规定,也不能将ATM机的人工智能和“冒用”的含义在法律概念上扩大化,从而该认定为信用卡诈骗罪。ATM机是银行的业务工具,而绝非银行的“电子代理人”,ATM机在目前的条件下绝对不可能被骗．在ATM机上取出的钱属于信用卡失主所有,取款的行为违背了失主的意愿并属于秘密窃取,完全符合盗窃罪的构成要件。     

诚实信用原则与法治的契合--作为宪法原则的诚实信用

原本作为人类的基本道德规范的诚实信用,早已不再仅仅局限于是一种道德,而且是一种法律,是一种具有明显道德基础和特征的法律规范。在法治社会,这一具有道德基础和特征的法律规范其适用范围在不断地扩张,不仅适用于具体而平等的个体之间,是私法上的规范和原则,而且被适用于国家和公民之间,成为了公法上的一项规范和原则。宪法,作为一国调整国家权力和公民权利关系的根本法,作为典型的控制国家权力、保护公民权利的公法,理应规定或体现诚实信用原则,促进和保证国家权力的诚实信用,最终更好地保护公民的权利;从宪法是公民与国家之间的一种契约角度讲,由于契约的本质及对诚实信用的依赖,也说明了诚实信用原则应该成为宪法层面上的一个原则。     

宁波市信用信息管理立法的冲突与衡平

近年来,信用领域成为立法创新的新版图,但密集立法引起的法律冲突问题需要重视。《宁波市企业信用监管和社会责任评价办法》和《宁波市公共信用信息实施办法》的冲突反映了立法创新和稳妥改革两种价值的矛盾。企业信用监管不等于企业信用信息监管;对公共信用信息管理单独立法合乎我国信用立法的大趋势;两个《办法》冲突的衡平之道是废止《评价办法》。     

试析我国农村土地承包经营权的性质

农村土地承包经营权是我国农村土地制度的核心。对于土地承包经营权的法律属性,学术界曾经存在较大的分歧。结合对《中华人民共和国农村土地承包法》条文的理解,从几方面论证了土地承包经营权是物权;与传统的用益物权永佃权进行了差别比较;指出农村土地承包经营权有关制度尚须完善。     

UCP500的若干适用问题研究

《跟单信用证统一惯例》 1993年修订本 (简称UCP5 0 0 )是国际商会为规范各国跟单信用证业务而颁布的国际惯例 ,较之以前版本有了许多改进 ,但未涉及司法管辖权与准据法 ,不利于维持并增强统一惯例的权威性 ,本文对其改进的特点作了分析 ,并对司法管辖权有关问题作了探讨 ,此外还对有关信用证修改的问题作了一些浅显的论证。