后金融危机时代的全球地缘政治变局与中国的机遇

源于美国次贷危机的全球金融危机对世界格局产生了深远影响,国际体系正经历着冷战结束以来最大的地缘政治变动。后危机时代,国际体系将发生一系列深刻变化:新兴大国群体崛起,传统大国趋向衰落,国际战略力量分化重组,多极化发展到一个新的阶段;中美力量对比发生此消彼长的重大变化,中美关系将成为今后一个时期全球最重要的双边关系;大国关系趋向缓和,全球和地区地缘对抗色彩淡化;国际秩序酝酿结构性调整,中国面临历史性机遇。     

日本金融机构破产处理

泡沫经济崩溃后日本爆发金融危机,金融机构破产风潮由中小规模向大型金融机构波及。在金融机构破产制度建设方面,日本“护送船队”式行政保护凸显制度缺陷,政府实施了从时限性措施到永久性长效处理框架的制度改革,建立健全了常规处理和应对危机事态的特别处理机制,形成了以中央银行特别融资、存款保险制度和金融机构破产处理框架为中心的金融安全网,为维持信用秩序稳定、防止金融系统性风险扩散建立了较为完善的制度保障。     

以区域合作应对东亚金融风险

金融危机暴露出亚洲金融脆弱性：经济基本面未脱钩、私人资本主体区外流动、外汇储备管理陷入困境、汇率制度选择依赖美元、区域货币基金缺乏、金融市场欠发达。为应对上述金融风险,东亚国家需要加强区域金融合作。     

An empirical investigation of determinants of corporate social performance using multi-dimensional panel data analysis

An assessment of the determinants of corporate social performance (CSP) in emerging economies is still too fractured. This article contributes to general management literature by developing an empirical model based on the existing theoretical models rooted in neo-institutional theory (legitimacy approach), stakeholders management theory, agency theory, the resource-based view of the firm, slack resources argument, and managerial control theory. A robust, multidimensional, unweighted disclosure index was used to measure CSP. This article provides a methodologically and empirically more rigorous assessment of determinants of CSP compared to previous studies by performing panel data regression analysis on 307 firms for 10 years. The results reveal that the presence of a legal framework, board attributes (board size, board diversity, board interlocking), women on board, ownership pattern, financial performance, firm attributes (size, age, leverage), and industry characteristics affect CSP significantly. These findings provide very important clues to design pragmatic strategies to improve CSP.     

Tussle for space: The politics of mock-compliance with global financial standards in developing countries

As efforts to harmonize policies globally intensify, developing countries increasingly face pressures to adopt international standards. Yet, we know little about the circumstances under which developing countries manage to circumvent such pressures, or about their strategies to maintain policy space. We explore under which conditions developing countries are willing and able to sustain mock-compliance, a situation where countries comply on paper but not in practice. Using country comparisons of Angola's, Nigeria's, Tanzania's, and Vietnam's engagement with the Basel banking standards, we show how three factors combine to produce sustained mock-compliance: high costs of outright non-compliance due to outward-orientated banking sectors; high political costs of substantive compliance; and state control over profitable markets. Our article contributes to theory-building in the literature on compliance and structural power as well as to broader debates about developing countries' policy autonomy in their engagement with global financial norms.     

Effect of financial sector development and FDI inflow on employment rate in South Asia: New empirical evidence from ARDL approach

The current analysis aims to explore the empirical nexus between financial development, foreign direct investment (FDI) inflow, and employment rate. To attain this aim, we collect 30 years of annual data over the period 1990 to 2019 from South Asian economies and employ the autoregressive dynamic least square (ARDL) model for regression analysis. The implication of the ARDL model was subject to the mixed stationarity status of the series as assessed by unit root testing. The robustness of the analysis was checked by employing the fully modified ordinary least square (FMOLS) and dynamic ordinary least square (DOLS) models. The statistical analysis infers that both financial development and FDI inflow enhance the employment rate in the South Asia region. In addition, the empirical analysis infers that the gross capital formation, economic growth, and export volume have a positive while the population growth rate has a negative effect on the employment rate. The impact of underlying explanatory variables was found significant only in long run. The estimated coefficient values in the case of FMOLS and DOLS models support the direction of the relationship between explanatory variables and employment rate, implying the robustness of the analysis. The findings of the current analysis can be used to devise efficient economic policies to cope with the encroaching issue of unemployment in the South Asia region. This study offers the robustness to existing literature and complements the literature by exploring the underlying arrangement of study to the whole South Asia group.     

The impact of cuts in legal aid funding of private family law cases

The Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO) made deep cuts to legal aid in the UK from April 2013, withdrawing state aid from almost all private family law cases. The paper is based on the findings of a micro-study of solicitors and Citizens Advice Bureaux (CABx) in Kent and London to investigate the impact of LASPO cuts on their work. The findings suggest that: legal aid firms have closed or merged; legal aid work is often partially carried out in solicitors’ own time; ‘unbundled’ services for litigants in person (LIPs) are increasingly common; and family cases are being complicated and extended by the new ubiquity of the LIP. Respondents suggest that litigants may increasingly be ‘giving up’ on pursuing their cases, with clear implications for financial justice and contact with children. Further research is needed into the financial and affective impact of the cuts and the distribution of losses and difficulties between genders. The study, however, suggests the likelihood of post-separation poverty, debt and capital losses increasing in the post-LASPO environment, and that firms and CABx are having to find various methods of dealing with clients abandoned by the state.     

WTO金融服务协议对我国银行业的挑战与我国的对策

20世纪90年代以后,随着乌拉圭回合服务贸易谈判不断取得进展,特别是1997年12月12日达成全球金融服务贸易协议,金融服务市场的进一步开放已成为各国的大势所趋。在金融服务市场开放的过程中,首当其冲的是银行业的开放。中国加入WTO后,为适应金融服务协议的要求,银行业将进一步加快对外开放的步伐,作为当前中国市场化程度较差、较为脆弱的部门之一,银行业面临着相当大的竞争压力。在经济全球化背景下立足中国实际来探讨中国银行业所面临的挑战及我们应采取的对策就显得尤为重要。     

我国财政绩效预算管理中存在的问题与对策

绩效预算是一种新的预算办法。我国在研究引进过程中存在认识上的误区,缺乏有针对性的制度规范,相关理论和实践不足,基础较为簿弱,科学化程序不足。文章认为应尽快制定相应的法律法规,建立正确的激励机制,构建科学的评价机制,做好宣传、培训、试点工作。