德国对冲基金监管制度研究

对冲基金起源于20世纪40年代末的美国。它是指通过非公开方式向少数机构投资者或富裕个人募集资金而设立,资产类别、投资技巧或杠杆使用不受或很少受到限制,基金经理也作为基金的一个主要投资者,具有以绝对回报为中心的业绩提成费用结构的投资资本组合。德国于2003年12月颁布《投资法》和《投资税法》对德国对冲基金业的发展及其监管做出了具体规定,首次从法律上明确允许对冲基金的发展,这对德国对冲基金市场的培育和繁荣具有里程碑的重大意义。     

Organizing knowledge spillovers when basic and applied research are interdependent: German biotechnology policy in historical perspective

The German biotechnology lag illuminates the difficulties of finding appropriate organizational forms of R&D for “embryo” innovations requiring the continued involvement of basic research scientists even after innovation has advanced to the stage of commercial product development. The analysis charts the German policy shift from largely unsuccessful “corporatist” networks (1970s and 1980s) to more promising “emergent” networks (1990s) as organizational vehicles for conducting biotechnology innovation. A constant of German R&D policy for most of the 20th century, and one underlying the initial reliance on corporatist networks in biotechnology, was the tendency to exclude universities from major R&D initiatives and rely instead on specialized research institutes. The structural inflexibilities of universities, combined with the early successes of many specialized research institutes from the 1880s on, led to path-dependent reliance on the latter for 20th-century reforms of the German national innovation system.      

New Insights into Coalition Negotiations—The Case of German Government Formation

Research on coalition negotiations after general elections in parliamentary systems usually focuses on the parties’ utility maximization as corporate actors. However, the most recent process of government formation after the German general election in 2017 followed a different type of logic and led to an outcome unlike that of other coalition negotiations. Regarding policy seeking, office seeking, and vote seeking, the outcomes of both the exploratory talks between Christlich Demokratische Union (CDU)/Christlich-Soziale Union (CSU), Freie Demokratische Partei, and the Greens and the negotiations between CDU/CSU and Sozialdemokratische Partei Deutschlands are at least partly irrational from a cost–benefit analysis. This article examines the formation of Germany’s government in 2017–2018 and reveals the paradoxical outcomes of each phase of the negotiations. Empirical data to underpin the argument stem from interviews with negotiators and statements of direct participants in the formation of the coalition. Instead of the parties’ utility maximization, negotiations were largely dominated by intraparty conflicts, in which individual interests and personal trust rather than partisan unitary programs were most relevant to the negotiation process and outcome. Our work answers the question of why the grand coalition was unexpectedly renewed in the end—contrary to what might be predicted based on established theories of coalition building. The observations and conclusions set forth are of general interest not only for future coalition negotiations in Germany but also for other European parliamentary democracies facing increasing party fragmentation. Most importantly, the analysis yields insights into negotiations undertaken in the absence of rationalist behavior.     

Diverse enlightenments

In Rival Enlightenments Ian Hunter argues convincingly that there was not one comprehensive German Enlightenment, represented by Kant, but two irreducible and rival enlightenments: the metaphysical Enlightenment of Leibniz and Kant and the non-transcendental, civil Enlightenment of Pufendorf and Thomasius. Hunter's study frees us from a dominant way of taking up the question, 'What is Enlightenment?', and enables us to see that there is a plurality of possible answers.     

论德国刑法典中的“不实施救助”罪

从德国刑法第323c条＂不实施救助罪＂的法律性质、处罚基础、保护的法益以及构成要件来看,其处罚的不是违反风序良俗的行为,也不是保护人类之间的团结一致,而是保护身陷紧急状态下的个人或公共法益。在当前的社会背景下,设立见危不救罪的前提已经存在,立法疑虑也可以通过对德国刑法第323c条的分析得以排除。所以我国应该参照德国成功的立法例设立见危不救罪。     

Socialist Heroes in East German Schoolbooks

Based on examples of socialist heroes from East German schoolbooks and teaching guides designed for elementary school, this essay examines the role of state ideology in primary education. It assesses the German curriculum of the now-defunct German Democratic Republic (GDR) and illuminates distinctions between civic education and political propaganda. It also shows how the curricular emphasis on socialist virtue helped to form “the socialist personality.”

The German Federal Election of 2017: How the Wedge Issue of Refugees and Migration Took the Shine off Chancellor Merkel and Transformed the Party System

The 2017 German federal election delivered dramatic electoral decline of the two traditional main parties, the Christian Democrats (CDU/CSU) and the Social Democratic Party (SPD), who had governed Germany in a ‘grand coalition’ government since 2013. The main reason for this outcome was the decision by Chancellor Angela Merkel to open Germany's borders for refugees and migrants, an unprecedented policy that abandoned border controls and remained in place between September 2015 and March 2016. This article focuses on how the refugee and migration problem subsequently turned into a wedge issue, splitting most German political parties and handing a major election victory to the main critics of Merkel's decision, namely the rightist Alternative for Germany (AfD) and the right‐wing liberals of the Free Democratic Party (FDP). Rather than explaining these developments in isolation, the article highlights how past welfare state retrenchment and fear over future economic prosperity make significant groups of the electorate, including former supporters of left‐of‐centre parties, lose confidence in the ability of the political system to deliver stability and social integration.     

德国地方级层公民投票诉讼制度与经验反省——以公民创制提案申请拒绝之诉为研讨进路

德国地方公民投票诉讼制度在理论和实践上均比较成熟。公民创制提案申请拒绝之诉是该制度的重心,以其为主轴探讨公民投票诉讼制度的运作,可展示后者机关诉讼的特色以及诉讼类别与诉讼主体等主要内容。这种德国经验的总结可以拓展直接民主充分、有效运行之思路,并启迪我国的民主进程和诉讼法制的发展。     

German Income Tax Policy Between Equity and Efficiency

Equity and efficiency are usually regarded as the main objectives of tax policy. Commenting on Dr. Reginald Hansen's doctoral dissertation, the author analyses the meaning of the equity-efficiency trade-off framework in the context of the ongoing debate regarding the reform of the German income-tax system. Schmoller's and Wagner's contrasting conceptions of income taxation are discussed. The role of the tax law as an instrument of interventionism within the framework of the social market economy, especially through the use of tax incentives, is highlighted. Contrary to Dr. Hansen, the author adopts an Austrian viewpoint and argues that both the (catallactic) efficiency and equity of tax incentives are disputable, especially but not uniquely through their (ab)use in tax shelter constructions.     

Christian Wolff and the classics of“scientific socialis”

The paper analyses the reception of Christian Wolff in the work of the founders of scientific socialism. It is discussed how Marx, Engels and Lenin thought about a leading representative of German Enlightenment. The author argues that the classics of scientific socialism knew about Wolff in an off-handed and secondary way. As the case of Wolff shows their studies regarding philosophical, legal, sociological and economic theories and those who represented them were strongly influenced by thinking with the logic and in the categories of class antagonism and struggle. The Wolff treatment by Marx, Engels and Lenin determined his reception in the philosophy and economics of the state socialism.