谈建立存款保险制度与加速金融业发展

建立存款保险制度的核心是为金融体系提供一张安全网,我国金融改革加速,存款保险制度也开始酝酿设立,待完善的存款保险制度出台后,一旦金融机构出现问题,由专门的保险基金偿付存款者的损失,而非一味地由国家埋单。

Analysis of conflict factors between pedestrians and right-turning vehicles at signalized intersections

Due to the fact that there is no protected signal phase for right turns at most signalized intersections, the conflict between pedestrians and right-turning vehicles is one of the most common conflict types for pedestrians. A pedestrian safety analysis of the common right-turn mode at four-phase signalized intersections is presented. Relative risk is used as a measure of the effect of behaviors. The analysis mainly includes five pedestrian factors that affect the conflict process between pedestrians and right-turning vehicles. Pedestrians tend to have a higher risk of being involved in conflicts in the following six situations: crossing with others, running over the crossing, entering the intersection, being near the exit lane, crossing in the middle or at the end of a green light when the right-turn lane is shared, crossing at the beginning of a green light or red period when the right-turn lane is exclusive. It is easier for pedestrians to get priority when crossing the street in the following situations: running over a crossing, entering the intersection, being near the entrance lane, and not using the crosswalk. However, pedestrians are more inclined to yield to right-turning vehicles when pedestrians are crossing in the middle of the green light time. Some measures to alleviate the conflict are put forward according to the conclusion. Video observations also indicate that a clear pedestrian waiting area must be marked for both pedestrian safety and right-turning vehicle efficiency at major flat intersections, particularly when the arms cover the lateral dividing strips.

he U.S. Mortgage Crisis

The financial crisis of 2008 left the U.S. economy in a state of severe recession, which is still being felt all over. This has also left the government in a frantic condition to rebuild the financial markets from the bottom up. What started out with excessive bank lending on mortgages lead to the mortgage crisis and a ripple effect on the economy. The cancer has spread globally, affecting every major marketplace and all the major states in the U.S.. Our economy is still very fragile because of this crisis, but eventually we will recover in a few years time to achieve robust economic growth. Long standing cultural pressures in the United States maintained that home ownership was necessary to be a part of the American Dream, and this cultural stance was reinforced by Clinton in 1994, when he enacted a program to raise home ownership to more than two-thirds of all adults. With the tacit blessing of the Federal Government, many mortgage companies sprung up, that catered to those in lower income brackets, offering them the mortgages that many did not have the financial sophistication to understand and deliver. Coupled with the skyrocketing costs of property taxes, insurance, and maintenance costs, many homeowners found themselves unable to pay their mortgages. The whole industry tanked, causing displacement of people and increased unemployment. The lenders of these mortgages sold the notes to investment bankers, and they were sold as high-quality investment grade securities. The major rating agencies were complacent in this tactic, causing rapid default rates on these mortgages; many commercial and investment banks got caught in this crisis. The prices of homes continue to decline, and many homeowners find themselves under water on their mortgages. It was found that in 2010, the U.S. government was responsible for nine out of every ten mortgages issued, which caused further problems with Fanny Mae and Freddie Mac. The crisis is still continuing, with no end in sight. The analysis was based on the data analysis and readings from the journal, as well as various Wall Street commentaries.

Banking crises and financial system in Turkey

The important part of the macroeconomic policies is related to financial sector. Banking, which is a portion of this sector, takes the most important place in both the operation of economic system and the realization of the institutional or individual activities. It is well known that the foundation of banking system is based on trust, stability and strong capital formation. The birth and development of the banking sector in Turkey is relatively new. If the roots of the Turkish banking are traced, it is seen that the history goes back to the middle of the nineteenth century. Since the establishment of the Republic of Turkey, the targets of the economic development have been tried to be reached through supporting the industry and banking in the leadership of the State. But the obstacles in the financial system have limited the development of the Turkish banking sector. Since the application of the liberalization policies in the markets, particularly after 1980＇s, the banking sector has been one of the most affected sectors from the liberalization. When the fundamental problems of the Turkish banking sector have been analyzed, they can be enumerated as economic instability, being the financier of the public deficits, being too sensitive to the market risks and being fragile, high input costs, inefficient use of capital, defects in the booking system or weaknesses in the control, problems with restructuring, defects in domestic control, lack of risk management and institutional inner-management. In this study, the development of banking sector will be briefly analyzed for determined periods since 1923. The analysis will include the developments which create economic crises, the role of banks in this process, the defects of the banking sector and the financial system, and the effects of crises on the banking sector on the basis of the cause and effect relation. Economic crisis of February 2001 and the banking crisis will be examined in detail. The new arrangements after the 2001 crisis in the banking sector have been overviewed.

Causes and solutions of non-performing loan in Chinese commercial banks

Non-Performing Loan （NPL） is one of the concrete embodiments of credit risk which banks take. NPL is a huge puzzle for Chinese commercial banks, so how to enhance risk management to improve assets quality and lower down NPL are of great importance to those banks.

The Ecological Crisis and the Principle of Relationality in African Philosophy

The way that humans think about the earth certainly affects the way that they relate and behave towards the earth and all its life forms. The various ideologies or worldviews that humanity has experienced such as dualism, capitalism, holism, animism, ubuntu, ukama, vital force, colonialism, and so forth are all different ways of thinking and relating to the earth. The paper argues that dualistic ways of thinking or viewpoints that radically separate the human as distinct from the earth are hostile to both human and earth flourishing. It further argues that the ecological crisis which has witnessed the destruction and pollution of the ecosystems and other devastations cannot be solved when humans continue to see the earth as an object for conquest and exploitation. Using a critical hermeneutics method, the paper affirms that the African principle of relationality can help in mitigating the environmental crisis. It finds and concludes that if this principle is radically practiced, a better environment will be created.

The Impact of the Economic Crisis on the Production Function of Estonian Banking

Econometric models have not been widely used for thorough analysis of the statistics published by banks. The paper presents the results of analyses of Estonian Banking, made by the authors during the last seven years. Earlier results have been published in a number of collections of research articles and have been reported on international conferences worldwide （in Mexico, South Africa, Egypt, Poland, Check Republic, Chile, China, and USA, etc.）. From econometric models, the Cobb-Douglas production function with income-earning assets, equity, liabilities and fixed assets as inputs was selected. The time period chosen is from the first quarter of 1995 to the fourth quarter of 2008 that is a total of 56 periods. The balance sheets and income statements published quarterly by the banks were used as the empirical base of analysis.

Analysis of the financial crisis after the era of Chinese-style shadow banking and regulatory proposals

In 2007, the U.S. subprime crisis -induced global financial crisis swept across the world rapidly, triggering a reflection of Governments on financial regulatory philosophy and systems, it also brought the shadow banking finance in front of the majority of people, it has become the focus of attention. Various management measures have been taken around the shadow banking, and it has brought great volatility to currency and financial markets, and it also highlights the plight of Chinese shadow banking supervision. Therefore, this article briefly analyzes the mechanism of the Financial Times in the Chinese style shadow banking, and makes several regulatory proposals, avoiding low risk of shadow banking at the greatest degree.

The Efficiency of Non-repayable Funding Against Crisis Effects in Romania

The current economical crisis pointed out the gaps and the weak development of the Romanian economical system. If we were to compare the economy of a country to the human body then we would realize that constant and massive loss of ＂blood＂ may eventually lead to collapse of the economical system, which require Romania to speed up financial ＂transfusions＂. In these conditions, the most accessible and inexpensive source of funding is the non-repayable funding that Romanian economy can acquire by the year of 2013. In this paper we analyze the evolution of non-repayable funds allocated to Romania, in terms of those funds for the approved projects （their implementation has not yet started） but also in terms of those contracted projects or in the process of running （in fact representing ＂the necessary＂ amount of money that the Romanian economy needs）. The first part of the paper contains an overview of the situation about the requiring and the absorption of non-repayable funding since 2007 （officially since the crisis emerged in the U.S.） to present, also making an analysis of the influence they had on the Romanian economy. We take into account in this analysis that the effects of the crisis in Romania began to be felt in the second half of 2008, economical politics against crisis were not taken into accounted by this date. In this analysis we started from the assumption that one anti-crisis policy, taken into account by public decision members in Romania, is to increase efficiency and absorption of funds by raising the capacity of the Romanian economical environment for the implementation （and not only the winning ） of these funds. The second part of the paper contains an econometrieal development model which highlights the influence of changing the interest rates and exchange rate on the rate of contracting projects during January 2007-March 2010. The Analysis of the results emphasizes the stronger influence of the changing rate on the approved contracting projects compared with the changing influence of the reference interest rate. Following the results of the analysis we highlight the main reasons for which this economical policy of attracting and using outstanding funding represents until now, a failure more than a success. Also we present these several solutions to increase the volume of financial ＂transfusion＂ with a direct impact on the Romanian economy, arguing that such measures cannot be implemented without real political will from decision-makers in Romania.

The Impact of Foreign Bank Strategies on the Behavior and Performance of Czech and Slovak Banks in the Financial Crisis

In this paper, the authors analyze the impact of the specific ownership structure of the banking sector in Czech and Slovakia on the performance and applied strategies of particular banks during times of crisis. Did the multinational banks pursue a coherent regional strategy to cope with the risks resulting from the crisis, or did they focus on finding local solutions？ The aim of this paper is to find answers to these questions. A case study is going to be used as a basic research method. Two members （Slovak and Czech） of four multinational banking groups are examined in the crisis year 2009, whereby both a qualitative analysis of the annual reports regarding strategic business or risk management decisions and a comparative quantitative analysis of selected financial data and risk indicators are employed. The authors have found that Czech and Slovak banks generally tried to follow the main strategic directions given by their parent banks during the financial crisis. However, particular financial results and risk profiles of respective subsidiaries of multinational banks still differ because of market factors specific to the different countries in which the subsidiaries are located.

Mass Tourism and Air Transport, an Inevitable Relationship： The Case of Canary Islands

The tourist industry, as global mass phenomenon, is inextricably linked to the evolution of air transport systems and air carriers, in turn, depends on tourism to ensure stability in routes and prices. Therefore, both sectors must face the new challenges together, the transport industry is heading a problem of energy and cost overruns, that inevitably will affect tourism in the short term. The first energy crisis that they are starting to live, has been mitigated by changes in three parameters： （1） the international regulation of commercial aviation; （2） the connectivity and business （birth of low cost companies） models; and （3） the new policies for climate change and gas emission. So far, the rapid growth of the tourist industry has being held on a fast and cheap access to transport energy resources based on the false belief of unlimited access to energy. The article is a review of the state of the art, and the research papers published on air transportation, relating to tourism and the emergence of low cost airlines, in order to give a global vision for the decision makers of mass destinations, as it is the case of the Canary Islands that we will use as a reference.

The Efficiency and Productivity Analyses of the Turkish Banking Sector After the Restructuring Program

After the 2001 economic crisis, the banking sector restructuring program （BSRP） has been designed for the establishment of a stronger financial framework and the improvement of competition in the Turkish banking sector. The program constitutes the policies for solving specific problems such as the mismanaged assets of some banks and the recovery of regulating and supervising of the sector. This study aims to analyze the efficiency and productivity changes in the Turkish banking sector during 2002-2009. During this period the Banking Sector Restructuring Program has been applied. The data envolepment analysis （DEA） is conducted for the efficiency measurement under the production and intermediation approaches and it is observed that the efficiency of banks increased for both approaches. The mean efficiency values for the intermediation approach are higher than the values for the production approach, indicating a better functioning in financial intermediation as compared to their operational performance. The Malmquist index based on the intermediation approach is calculated to determine the productivity of the banking sector. It is observed that the productivity of banks increased during the period and the increase resulted mainly from investments in technology.

Online Shopping A Block to E-commerce

The rapid growth oflnternet technology development has made Chinese consumers search for products over the Internet and purchase products or services from Web-retailers. E-commerce is growing to represent an increasing share of overall sale avenue, and online shopping is expected to continue growing for foreseeable future. As such, it is vital to identify the performance of shopping online and investigate the effects that shopping online has on e-commerce.The methods used in this study are consulting some authentic materials and looking into some cases in point. It is found that shopping online has so many disadvantages, such as credit crisis, the insecurity of e-bank, express problem, a series of relevant law problems, limited payment options and so on.Because of these limitations, shopping online has interfered with e-commerce. Overall, shopping online is more or less a bar to e-commerce.

Exploitation and Abuse of Children in ＂Entrepreneurial＂ Purposes

The society of today often likes to brand itself as modem, advanced, civilized, or a society of positive changes. However, it is a fact that the world is confronted with huge contradictions that oppose such qualifications. Obviously, one of the most striking and almost unbelievable realities tells us about inhumane and uncivilized actions of child exploitation in ＂entrepreneurial＂ purposes in the widest range of exploitation and abuse. Current period of economic crisis tells us even more about the rising crisis of moral, which is, in statistical terms, confirmed by a rising number of exploited children in a global framework, and even in some national frameworks as well. With that, some positive results about the diminishing number of exploited children are devaluated. The question is what are the ＂limits＂ of such behavior of groups, organizations, and individuals whose behavior is, obviously, tolerated in the frameworks of certain national economies. Does this behavior have clarity as a part of modem society？ Or, even more severe, for how long can we as a society close our eyes in front of such facts？ Do we even have the right？ In this paper, the authors strive towards focusing and objectifying the global problem of exploitation and abuse of children in ＂entrepreneurial＂ purposes, primarily with the purpose of updating all parts of the society of this paradox and the need of raising the awareness and teaching all relevant factors--from institutions to individuals, with the purpose of resolving and more neutralize the equivalents of this uncivilized and non-entrepreneurial ＂phenomenon＂, as well as approaching the same in the framework of different actions with broadest measures possible and with all disposable assets.

Credit Risk （Based on Analysis of Financial Statements） as the Decisive Factor Influencing the Risk of Investors

Banks as the key subjects in the financing of investment have a strong influence on the risk of investors. Hence, the solvency of the bank is of crucial importance for the risk management in the investment process. Given the fact of underdevelopment of financial markets and the lack of trading activities in securities, it is evident that the investments of banks in the developing countries mostly include lending investments. Looking at the key categories of risk that influence the overall risk of the banking business in such conditions, it can be concluded that credit risk presents the dominant and decisive factor. The aim of the paper is to select the bank determinant key factors of credit risk and to determine the extent to which non-performing loans （NPL） of bank credits affect the solvency of banks, and therefore also the risk of investors. This selection of the main determinants will be based on the analysis of financial statements. This is essential, especially taking into account the impact of the global financial crisis and the increasingly frequent falling into insolvency customers. Finally, liquidity of customers is that of the bank, and it is crucial for investors to timely identify possible risks associated with bank loans in order to proactively manage risk investment.

The Prediction of Bankruptcy in a Construction Industry of Russian Federation

The problem of the firm bankruptcy prediction was investigated by foreign researchers in the 1930s and it still remains relevant. Since the publishing of Altman＇s （1968） major work, based on multiple discriminant analysis （MDA）, this methodological area has considerably changed. Taking into consideration that new data have appeared in the course of time, companies＇ average size has changed, and the accounting standards have changed （Altman, Haldeman, ＆ Narayanan, 1977）, methods and models should be renewed so as to be appropriate for current situation. The purpose of this paper1 is to reveal factors causing bankruptcy and use models appropriate for prediction bankruptcy in the area of a construction industry during the financial crisis. This investigation has been carried out on the basis of logit and probit analysis. The main reasons of bankruptcy revealed in the course of this investigation are the following： （1） non-optimal capital structure formation; （2） ineffective liquidity management; （3） decrease in assets profitability; and （4） decrease in short-term assets turnover. The most reliable indicators which give warning of bankruptcy ahead of others are financial instability and liquidity ratios.

Japan’s Negative Interest Rate Strategy Stirs Up Global Market

We are living in an era in which monetary policies are needed in order to drive away economic crises.On January 29 the Bank of Japan（BOJ）,the country’s central bank,said that it would apply a0.1-percent fee on new deposits held by commercial banks at the BOJ—in essence adopting a negative interest rate.