当代市场经济运行的信用经济本质剖析——美国"次贷"危机引发的经济学暨政策思考之一

美国"次贷"危机爆发深刻揭示了当代市场经济运行中的金融本质特征之一是高度发达的信用经济。负债运行是当代市场经济中微观主体的常态,是社会经济正常运转的必要前提与制约保障。信用经济本质上是债权债务经济,并具有正负"双重"效应。信用经济的核心功能是以时间交错、空间重组的方式极大限度地将现有的暂时闲置的社会资源动员起来,使原有的经济实体规模在本不可能的基础上得以扩张;但这种经济的运行一旦在某个环节出现断裂并引发环环相扣的整体信用关系功能性断裂时,就会引发整个社会经济的连锁反应,使其原来对社会经济的加速度推动作用反方向运行,并由此产生对社会经济的加速度的破坏张力。发挥信用经济正效应,抑制负效应,需要遵循信用经济运行的基本平衡公式,保障信用经济运行的基本约束条件,即债务人的受信在数量、质量、时间上与债权人的授信相平衡,并以此构建监管体系。     

政府信用研究综述

政府信用在社会信用体系中处于核心地位,起着基础性、决定性、导向性的作用。没有良好的政府信用,就无法建立良好的社会信用。本文从政府信用的概念与内涵、政府信用的地位和作用研究、政府信用缺失的成因研究、政府信用的评价体系与评价模型研究和提高政府信用的途径与对策研究等五个方面回顾和分析了政府信用领域的相关成果,以期推动我国学术界政府信用问题的研究。     

治理信用缺失的法律责任制度设计

导致我国信用缺失的最根本原因是法律责任制度的不完善.健康的市场经济必须要有完善合理的信用法律责任制度来维系.我国现行的信用法律责任制度的缺陷表现为设定缺乏、设置非适度和规定的缺位.只有从多角度综合运用各种责任形式,进行完善的信用责任制度设计才能最终为市场经济的发展保驾护航.     

UK Government Policy,Credit Unions,and Payday Loans

This article outlines how successive UK governments’ policies first created a three-tier system of credit unions and then posited credit unions as alternatives to payday lenders. The three-tier framework is used for an analysis of loans offered on credit union websites. The findings indicate that while the first two tiers of credit unions now offer loans to people who have not saved with them previously, they do so in ways consistent with credit unions’ original character, rather than in ways that replicate commercial payday loans. The other tier of credit unions appears unable to offer such loans.     

Credit and social capital: The community development potential of U.S. microenterprise programs

Abstract

This article looks at the community‐building activities of microenterprise programs. These programs build community primarily by creating networks that build social capital. Microenterprise programs build two types of networks—networks within programs that typically involve borrowers and networks between programs and other institutions. The article examines (1) the ways in which microenterprise programs motivate the creation of both types of networks; (2) the extent to which these networks are embedded within program structures; and (3) the process by which network formation leads to the accumulation of social capital.

The networks of relationships that Women's Initiative and Working Capital have catalyzed, both within and between programs, build social capital in important ways. The trust building that intraprogram relationships accomplish and the alteration of norms that interprogram relationships accomplish motivate the creation of networks that build social capital. These changes are not sufficient to turn poor communities around, but they are important first steps.     

美国金融危机与东北地区金融发展策略

当人们对虚拟资本(比如次级债券)未来收益的现值丧失信心时,将纷纷抛售虚拟资本,追逐货币,货币内在矛盾激化,金融危机爆发。美国金融危机是信用危机,根源在于货币和资本内在矛盾的激化。东北地区经济对外开放度不高,金融机构发展迟缓、银行不良贷款水平较高、直接融资比重偏低,美国金融危机对东北地区经济和金融业的冲击不大。在美国金融危机背景下,东北地区金融发展策略包括防止不良贷款产生、促进具有区域特色的金融创新、加强企业直接融资、完善信用体系、加大对农村和中小企业的金融支持力度等。     

From confrontation to collaboration? Banks,community groups,and the implementation of community reinvestment agreements

Abstract

Banks and other depository institutions have signed more than 300 community reinvestment agreements valued at $350 billion in the two decades since the passage of the Community Reinvestment Act (CRA). This article examines the effectiveness of negotiating CRA agreements in Chicago, Cleveland, Pittsburgh, and New Jersey. After describing the agreements and the procedures by which they are enforced, the article looks at their impact and discusses several factors that could limit implementation of CRA agreements in the future.

The findings suggest that CRA agreements are more effective in some areas than others. They seem most consistently successful in meeting their goals for mortgages, investments in low‐income housing tax credits, grant giving to community‐based organizations, and in opening (and keeping open) inner‐city bank branches. The future of CRA agreements is clouded by several factors, most notably the restructuring and consolidation of the financial service sector.     

Innovation and the cost of mortgage credit: A historical perspective

Abstract

Since the inception of U.S. institutional mortgage lending in the 1830s there have been major changes in mortgage instruments, the delivery system, and funding sources. Some of these changes qualify as innovations that have lowered the cost of credit and increased its availability. This article divides the history of U.S. mortgage finance into three periods and identifies the source and type of major innovations.

The “Origins” period, from 1831 to 1931, included the development of many mortgage lending institutions and instruments. The second era, “A Wonderful Life,” featured a government‐supported special circuit that dominated mortgage finance from 1932 to 1981 and witnessed development of mortgage‐backed securities. The current era, “A Brave New World,” features a new system of credit delivery dominated by specialized institutions and technology. In it, application of automated underwriting and artificial intelligence may have far‐reaching effects on the market and the accessibility of low‐income households to mortgage credit.     

‘But this is a park’! The paradox of public space in a Buenos Aires ‘no man's land’

Drawing upon qualitative fieldwork, this paper analyzes the occupation of an abandoned park in the south of Buenos Aires by the city's urban poor, delineating the implications of this incident for notions of citizenship in the context of deeply fragmented social rights. While public space has historically been understood as an expression of the universality of rights bearing membership in a political community, I show how this universalism became the object of struggle during a conflict over the park between the local middle class and squatters, many of which were of immigrant origin. The discourses mobilized by various social groups blurred the distinction between citizenship as a set of legal–formal rights versus a project of normative inclusion. While public space is juridically constructed as universal, particularistic claims to these spaces are imbued with increased legitimacy in a context in which social rights – conceived as a set of provisions guaranteed by the state under a regime of liberal citizenship – are unrealizable. By claiming this space for particularistic uses, squatters drew attention to the contradictions embedded in public space's democratic pretensions in a setting in which putatively universal rights are ignored by the state.     

学分制管理模式下公安远程教育训练系统的研发

公安远程教育的学分制管理模式是近年来公安教育发展的新趋势,学分制教学系统设计得是否科学合理会直接影响到公安教育的教学效果以及学习导向。本文针对学分制教学系统的特点和要求,结合公安教育的实际情况,设计研发一款学分制管理模式下适合公安教育的远程教育训练系统。