Chinese capital flows and offshore financial centers

Abstract

Why is the British Virgin Islands a bigger source of foreign direct investment into China than the USA, the European Union and Japan combined? Why is there 10 times more investment from China in the Caymans Islands than there is in the USA? This paper argues that these flows represent the efforts of Chinese and foreign investors to reduce governance and measurement transaction costs. Investors avail themselves of efficient institutions in offshore centers that are absent locally. These institutional attractions include the ease of raising capital on foreign stock markets, access to reliable courts, and more flexible and sophisticated financial products. Existing explanations of these capital movements, characterizing them as criminal money or tax arbitrage, are insufficient. Evidence is drawn from government statistics, private legal advice and interviews in offshore financial centers.     

网络交易中经营者与消费者的权益平衡

经营者与消费者作为网络交易的双方主体,在市场经济体制下对其权益全面加以保护具有异乎寻常的重要性。然而,现行理论总是立足于消费者一方的权益保护,而忽视经营者一方的权益保护。为平衡网络交易中消费者与经营者的权益,挖掘现行网络交易中的双方权益平衡的缺陷,本文参考外国相关法律法规,从网络交易运行模式和法律视角探寻网络交易中经营者与消费者的权益平衡方式,以完善网络交易市场,促进市场经济秩序的完善。     

Capitalizing on Contention: Issue Agendas in U.S. Senate Campaigns

This abstract addresses the divergent views that political scientists and members of Congress have about the role of issues in congressional campaigns. The scholarly perspective is based on the assumption that issues and policy are relatively unimportant in the relationship between members and their constituents. In contrast, the political parties in Congress devote a substantial amount of time and attention to developing an effective issue agenda for the campaign season. The research presented in this article is a systematic study of U.S. Senate candidates' campaign messages that assesses the impact of the parties' agenda setting efforts during the election year session. The parties' efforts are compared with mass media, major legislative accomplishments, and party issue ownership as alternative sources of agenda setting in campaigns. The results of this study indicate that Senate candidates do emphasize certain issues in their campaigns and that the contentious election year issues associated with party strategy along with major legislative accomplishments are the issues that the candidates are likely to discuss.     

节约型机关建设研究之文献检视——基于CiteSpace的可视化分析

节约型机关建设是推进机关事务管理现代化和落实政府"过紧日子"要求的重要举措.本文以中国知网(CNKI)收录的关于节约型机关建设研究的644篇期刊文献为样本,以CitrSpacr软件为分析工具,从年度发文量、研究力量、高被引文献、高频关键词等方面对节约型机关建设研究的现状进行文献计量及可视化分析.既有研究成果主要聚焦于节...     

论法经济学分析范式的传承与分野——科斯分析范式与波斯纳分析范式之比较

法经济学分析范式在法经济学理论体系中处于基础性地位。从某种意义上而言,法经济学的发展实际上就是其自身分析范式的持续性革命。科斯以交易成本为最基本的分析工具,架起了新古典经济学与法律之间联系的桥梁,在大大增强了新古典经济学对现实问题解释力的同时,也为法经济学的研究提供了可能。而波斯纳则在继承科斯法经济学分析范式的同时,另辟蹊径,运用科斯提出的交易成本理论及其衍生的效率工具来分析法律规则背后的经济逻辑,为法经济学的进一步发展拓宽了理论的空间,由此形成了法经济学下的经济的法律分析和法律的经济分析的不同研究路径,从而最终导致法经济学分析范式的分野。     

Environmental effectiveness and economic consequences of fragmented versus universal regimes: what can we learn from model studies?

A post-2012 regime aimed at reducing greenhouse gas (GHG) emissions could develop towards a universal or fragmented regime. The fundamental difference between a universal and a fragmented regime is that the first involves a single comprehensive climate regime in which all countries participate, whereas the second involves either multiple treaties or a single treaty in which not all countries participate. This study assesses the literature on a wide range of different model studies concerning the environmental effectiveness and economic consequences of various universal and fragmented climate regimes. The most important conclusions (e.g. relative position of regions in terms of costs) are generally consistent across different studies, despite the differences in methodology. We conclude that stabilising GHG concentrations at low levels is more costly with a fragmented regime than with a universal regime, because reduction targets must be achieved by a smaller number of countries or because fragmented treaties may prevent reducing GHGs where it is cheapest to do so. However, establishing a universal regime will be challenging due to cost differences between regions if emissions are allocated based on specific allocation rules and incentives to free-ride on a universal regime. Even though alternative behaviours such as responsibility, the implementation of transfer schemes or exclusive membership can increase the likelihood of achieving a universal regime, a fragmented regime seems more feasible. Therefore, a transitional fragmented ‘coalition of the willing’ could be established first, which could provide the basis for a larger, universal regime in the long term.

贝勒斯法律程序分析之方法评析

贝勒斯首先将道德成本和程序利益引入法律程序的分析当中,这不仅在方法上给人耳目一新的感觉,而且将道德成本、程序利益和经济成本综合地运用于分析法律程序,拓展了程序的内涵。然而,这一方法也存在着缺陷——法律程序分析失去确定性和直观性。     

中国社会转型过程中的利益失衡与风险成本

改革的过程必然是一个利益重新分配的过程,随着中国改革开放的不断深入,不同的利益集团不断分化,并出现了两极分化的趋势。这一趋势应引起我们的高度关注和足够重视。因为,严重的利益失衡将使处于转型期的社会面临高风险,并有可能最终导致改革失败。     

委托代理分析:对警务人员有效管理的新理念

警察机构作为政府的组成部分具有典型的科层制结构。由此产生了大量的委托代理关系并带来了管理上的低效率。其主要原因是不对称信息的存在 ,机会成本的增加 ,规则制度的失灵。解放这一问题的管理新理念是 :一要正视下属人员的正当利益要求 ,在设计组织目标时力图协调好组织整体目标与个人目标的关系 ,使下属人员在追求自身利益最大化的同时客观上也能促进组织目标的实现 ;二要创建“合作型”的组织文化 ,在和谐合作的组织文化氛围中促进组织目标的实现。     

商事法律行为初论

通过对商事法律行为的专门研究,得出如下结论:商事法律行为确实存在,它既不同于民法中的民事法律行为,也不同于商法中的商行为.虽然存在着密切的牵连性,但民事法律行为和商行为本身并不当然等同于商事法律行为.可分别从民事法律行为与商行为中提炼出某些重要的商事法律行为自身具有的特质,即商事法律行为的实施者是以商人为主的商事主体;...