试论1914年～1935年云南地方银行与法国东方汇理银行的博弈

1914年～1935年云南金融的发展一直是在与法国东方汇理银行的博弈中进行的。期间又大致可分为三个阶段:1914年东方汇理银行在云南设行至1915年,云南金融形势稳定,双方力量相持;1916年～1931年,由于军阀战乱,云南经济濒临破产,金融也极为紊乱,东方汇理银行乘机控制和垄断了云南金融;1932年～1935年,龙云政权稳固以后,从政治、军事、经济等方面进行了改革,云南经济和金融形势逐步好转和稳定,实力也慢慢强大,使云南地方金融最终能打破东方汇理银行对云南金融的垄断和操纵而获得了较大的发展。     

论部门预算的主体、责任与效力——从行政、法律角度的分析

中国正在推进的部门预算改革是建立公共财政、法治财政的关键步骤。部门是最基本的预算主体,明确部门财政责任至关重要,这是部门预算改革的根本所在。财政责任必须落实到个人才有意义。预算的本质是法律,预算的职责是控制与监督财政活动。预算必须对所有部门及其责任人产生同等的法律效力。部门作为双重利益主体和官员个人谋求利益的场所,必须有完善的预算约束。     

减税的扩张效应分析

我国积极财政政策的实行是否需要进行减税 ,理论界有不同看法 ,概括起来主要有两种不同的观点 :一是认为减税有利于扩大内需 ;二是认为减税会抑制财政支出。从实证角度看 ,减税是一种临时性的应急措施 ,其作用要在机制完善、法律健全的条件下才有明显效果     

金融全球化视角下我国货币刑法的改革

金融全球化下金融法律存在趋同的态势 ,货币刑法也有共同规则。我国在加入WTO后 ,货币刑法的国际化应予考虑。中外货币犯罪刑事立法在章节体系、客体定位、罪名设置、主观目的、外币保护、犯罪形态、刑事责任等 7个方面存在较大差异 ,中国的货币刑法重点应从这些方面加以完善     

当前世界金融监管的最新发展趋势

金融监管是现代金融业稳健运行与健康发展的重要保障。中国金融业必须高度重视世界金融监管所面临的新形势与新挑战,紧跟国际金融监管发展的新趋势,提高中国金融监管的有效水平。     

乡镇财政风险:潜伏、转移、显现与释放

乡镇财政风险形成比较早 ,但是乡镇通过各种方式将风险向外、向后、向下转移了。农村税费改革后 ,乡村财政收入大幅减少 ,各种转移风险的途径失效 ,风险才显现出来。文章详细分析了乡镇财政风险潜伏、转移和显现过程 ,提出了释放风险的策略     

公共财政框架和出资人管理制度中财政与国企的关系

在公共财政框架和出资人管理制度的双重约束下,财政代表了国有企业出资人、政府出资人产权收益和国有企业的出资人财务管理,在国有企业的出资人管理制度中占有重要地位。面对新形势,财政部应减少审批事项,强化财政对国有企业资产和财务的信息收集和分析处理功能。     

Electoral Integrity and Turnout in a Context of Violence at the Sub-National Level in Mexico, 2015–2018

In this article, we analyse the effect of electoral integrity on electoral participation in violent contexts. Using data from Local Electoral Authorities on electoral results, Electoral Integrity rates, and the Peace Index, we develop an exploratory analysis for sub-national elections in Mexico, in the 2015–2018 period. We conclude that, when elections are characterised by a high level of integrity, the negative impact of violence on turnout lessens, or almost disappears. By doing this, we contribute to the existing literature about the effects of violence on turnout at the sub-national level and to the studies on electoral integrity.     

Economic Governance Beyond State and Market: Islamic Capital Markets in Southeast Asia

ABSTRACT

Islamic finance has become an integral part of the financial systems of the Muslim-majority countries of Southeast Asia. At the same time, Southeast Asia has witnessed the emergence of new capital market governance practices and arrangements that are both multi-scalar and multi-sited. This article suggests that rather than only looking at the scale and rescaling of capital market governance in the region, more attention needs to be paid to the shifting balances between regulatory expertise, market practice and societal expectations. Indeed, for governance practices to be considered effective, they have to straddle at times competing demands of authority and legitimacy. This dynamic is nowhere as visible as in the case of Islamic finance, which explicitly involves Shariah experts, trained in Islamic law, in its governance structures. This article explores the novel forms of governance to which this new market has given rise. It argues that Islamic finance – rather than the product of privately held beliefs – has become increasingly bound up with the state apparatus. This facilitates the embedding of Islamic financial principles and ethical concerns throughout capital markets in the region. Yet, Islamic finance has also become increasingly submerged within national development and competitiveness agendas.     

Cultures of high-frequency trading: mapping the landscape of algorithmic developments in contemporary financial markets

Abstract

As part of ongoing work to lay a foundation for social studies of high-frequency trading (HFT), this paper introduces the culture(s) of HFT as a sociological problem relating to knowledge and practice. HFT is often discussed as a purely technological development, where all that matters is the speed of allocating, processing and transmitting data. Indeed, the speed at which trades are executed and data transmitted is accelerating, and it is fair to say that algorithms are now the primary interacting agents operating in the financial markets. However, we contend that HFT is first and foremost a cultural phenomenon. More specifically, both individuals and collective agents – such as algorithms – might be considered cultural entities, charged with very different ways of processing information, making sense of it and turning it into knowledge and practice. This raises issues relating to situated knowledge, distributed cognition and action, the assignment of responsibility when regulating high-speed algorithms, their history, organizational structure and, perhaps more fundamentally, their representation.