On 1 June 2017, the US President Donald Trump officially announced the withdrawal from the Paris Agreement, thus the study on the reasons of withdrawal, the potential impacts, and coping strategies has become a focus ...On 1 June 2017, the US President Donald Trump officially announced the withdrawal from the Paris Agreement, thus the study on the reasons of withdrawal, the potential impacts, and coping strategies has become a focus among policy circles and of the international community. Based on the self-developed US Policy Assessment Model, this paper systematically evaluates the three potential "major deficits" in terms of mitigation, climate finance, and global climate governance, as a result of the US withdrawal from the Paris Agreement and puts forward policy suggestions for coping with such transformations accordingly. The study shows that the United States 'withdrawal from the Paris Agreement will affect the existence and implementation of successive climate policies and result in an additional 8.8-13.4% increase in the global emissions reduction deficit. The United States' withdrawal will also deteriorate the existing climate finance mechanism. The Green Climate Fund (GCF)'s funding gap will increase by USS2 billion, while the gap of long-term climate finance will increase by about USS5 billion a year. Either the China-EU or the "BASIC plus" mechanism could fill the governance deficit caused by the United States and the lack of political momentum may continue for a while in the future.展开更多
This paper first estimates the overall return on capital in China between 1978 and 2013. It then identifies the determinants of return on capital by analyzing provincial panel data and breaks down the causes of swerve...This paper first estimates the overall return on capital in China between 1978 and 2013. It then identifies the determinants of return on capital by analyzing provincial panel data and breaks down the causes of swerves in capital return after the eruption of the global financial crisis in 2008. It finds that: (1) there is significant inertia in the return on capital," (2) government intervention has significantly negative impact on capital return; (3) a significantly negative correlation is observed between investment rate and return on capital," and (4) the increases in the shares of secondary and tertiary industries in the economy have significantly positive impact on return on capital. This paper concludes that the growth in investment rate and the expansion of government size are both important contributors to the recent decline in China's return on capital since the financial crisis.展开更多
China, Russia and India, three Eurasian BRICS countries, are close neighbors, geographically located in the Pacific Ocean, the Arctic Ocean and the Indian Ocean respectively. The research questions why these three cou...China, Russia and India, three Eurasian BRICS countries, are close neighbors, geographically located in the Pacific Ocean, the Arctic Ocean and the Indian Ocean respectively. The research questions why these three countries have some similar characteristics in their diplomacies and foreign policies, which differentiates them both from traditional developed countries and typical developing countries. Before the assessment of this question, analysis of culture and its characteristics, international strategies and diplomacies of these three BRICS countries is necessary and appropriate. Culture plays a special and crucial role in international politics or international relations. The unique cultures of Eurasian BRICS countries, China, Russia and India, have special influences on their diplomacies, which has created a new landscape in current world economy and politics.展开更多
International experiences show that when make full use of the regulation and service functions of financial mechanism, such as the establishment of greenhouse gas emissions trade market, further strengthening investig...International experiences show that when make full use of the regulation and service functions of financial mechanism, such as the establishment of greenhouse gas emissions trade market, further strengthening investigation in environmental risk of the financing projects according to equator principles, more fiscal and taxation policies that to encourage financial institutions to innovate green financial products, participation of supporting the international financial organizations in energy-saving and environmental protection (hereafter referred to as ESEP) projects, people can significantly improve the quality of the environment, and effectively control pollution emissions in a low cost. In order to improve the efficiency of Shanghai ESEP work, the local government should learn from the international advanced experiences to accelerate the establishment of green financial service system of ESEP, so that to better use finance leverage to build a resource conserving and environment-fxiendly society.展开更多
The financial crisis in 2008 dragged the U.S. economy into the dilemma of imbalanced and sluggish growth. Thus, the federal government carried out the sustainable and balanced growth strategy. This paper draws the fra...The financial crisis in 2008 dragged the U.S. economy into the dilemma of imbalanced and sluggish growth. Thus, the federal government carried out the sustainable and balanced growth strategy. This paper draws the framework of U.S. new growth strategy and summarizes the main measures applied in last five years. Further, it assesses the comprehensive strategic effects on economy and finally discusses the future challenges for the U.S..展开更多
In recent years, the Chinese government has taken lots of measures to expand domestic demand and promote economic growth in response to the financial crisis. Accelerating the construction of indemnificatory housing is...In recent years, the Chinese government has taken lots of measures to expand domestic demand and promote economic growth in response to the financial crisis. Accelerating the construction of indemnificatory housing is one of the most important measures. In order to solve the problem of the insufficient supply of the indemnificatory housing, the government speed up the construction of indemnificatory housing and constantly expand the scale of the construction. With the increase of indemnificatory housing, the problem of construction fund is increasingly highlighted. Large-scale construction of indemnificatory housing in the short term results in large funds pressure. Indemnificatory housing fund has several notable features, it requires a large demand for money and the capital turnover time is quite long. Also, its poor liquidity makes it difficult to get your money out at any time. In this article, the present situation and existing problems of indemnificatory housing are analyzed, the countermeasures and suggestions are put forward combining the capital sources of indemnificatory housing, so as to provide reference for indemnificatory housing financing.展开更多
This study seeks to determine an effective boundary between government and market in light of modern financial theories.According to the findings of this paper,the relationship between government and market must be co...This study seeks to determine an effective boundary between government and market in light of modern financial theories.According to the findings of this paper,the relationship between government and market must be conceived of as under the "continuous spectrum of change" resulting from economic development.In practice,an effective frontier between government and market not only transforms continuously with the process of economic development but also demonstrates significant contrasts internationally according to the different national characteristics existing in each country.Determining a frontier between government and market requires that the relationship between the two be embedded into a broader set of institutional environmental constraints that incorporate consideration of the dynamic processes and mechanisms of economic development.The key issue is that government and market act with regard to the principle of comparative advantage as they play their respective roles.展开更多
The purpose of this paper is to provide an economic overview of the costs and benefits of anti-money laundering (AML) rules. After defining and explaining the three stages of money laundering, the paper provides an ...The purpose of this paper is to provide an economic overview of the costs and benefits of anti-money laundering (AML) rules. After defining and explaining the three stages of money laundering, the paper provides an insight into the volume and development of money laundering activities in the Central and Eastern Europe. It relies on international, comparative studies outlines the impact of AML measures on banks and other financial intermediaries Conditions of reporting suspicious activity and government agencies, which use these reports to identify investigation targets, are also analysed. Moreover, the paper discusses possible reasons for the failure of AML rules to fight against the crimes and collateral damage caused by AML. These figures, which are presented in this scientific research, give an indication of how important the money laundering problem and the level of organized crime are.展开更多
Affter the eruption of the global financial crisis in 2008, China adopted proactive monetary expansion in an attempt to offset the economic slump. However, monetary expansion failed to bring the economy back to the st...Affter the eruption of the global financial crisis in 2008, China adopted proactive monetary expansion in an attempt to offset the economic slump. However, monetary expansion failed to bring the economy back to the state of the mean and instead caused tremendous negative output gaps that led to a negative producer price index (PPI) for three consecutive years. The impotence of monetary stimulation and investment seems to be caused by the emergence of the shocks of efficiency deceleration, i.e., a tremendous amount of supply proves ineffective, leading to accumulation of inventory due to lack of demand, lack of short term profitability or profitability being siphoning off by zombie firms. These inefficient firms, sectors of overcapacity and inefficient local infrastructure construction cannot be rescued by the infusion of money flow. Macroeconomic policy should stimulate the transformation of China's economy from rapid quantitative expansion to efficiency enhancement. For instance, tax credits should be offered for accelerated depreciation to clear up zombie firms and expedite mergers and acquisitions through capital markets. Institutional and inventory reform and adjustment must be carried out in order to complete the transition from quantitative expansion to high efficiency supply.展开更多
China's mini-stimulus policy is justi^ed for some proven effects on economic stabilization. However, the policy should not be used on regular, long-term base. Mini- stimulus economic policy is still essentially inves...China's mini-stimulus policy is justi^ed for some proven effects on economic stabilization. However, the policy should not be used on regular, long-term base. Mini- stimulus economic policy is still essentially investment-driven and by nature no different from the four trillion yuan stimulus package introduced in the aftermath of the global financial crisis of 2008. The policy strength of mini-stimulus packages the Chinese government resorted to has already accumulated to ascend to quite an extent. Further, ministimulus policy cannot stabilize growth and promote economic restructuring simultaneously. In fact, its effects on restructuring are short-term and may even be negative. Additionally, the diminishing potency of China's mini-stimulus policy efforts may force the government to resort to another hefty stimulus package with severe side effects. In the final analysis, it is social policy not economic stimuli that will help the Chinese economy achieve a soft landing.展开更多
The current crisis has revealed the weaknesses of the global financial in general and its banking system in particular and puts forward a requirement for assessing the effectiveness and stability of the banking sector...The current crisis has revealed the weaknesses of the global financial in general and its banking system in particular and puts forward a requirement for assessing the effectiveness and stability of the banking sectors across countries. Based on available data from 64 countries over the world, the author tried to evaluate the effectiveness of the banking sectors in those countries through the view point of the data envelopment analysis approach to define how the global banking systems is under the effect of the current crisis. Findings from the research showed that banking systems in advanced economies are still more effective than in developing countries. Moreover, it explained the effect of the current financial crisis, the role of public finance (and the government), and the development of the (privately) commercial banks to the effectiveness of the banking sectors. The research also explained some determinants that can affect the effectiveness of the banking system, including inflation, bank concentration, and level of economic development.展开更多
National development requires adequate electricity supply of which all activities--generation, transmission and distribution leading to it are capital-intensive in terms of funds, natural and human resources. The dwin...National development requires adequate electricity supply of which all activities--generation, transmission and distribution leading to it are capital-intensive in terms of funds, natural and human resources. The dwindling power sector government funding coupled with low private sector participation and weak level political will require creative and innovative solutions in addressing the power supply problem in Nigeria. Hence, this paper seeks to examine power sector privatization as a viable option.展开更多
In the last few years, "the BRICS" or Brazil, Russia, India, China, and South Africa have been increasingly investing in developing their cooperation and seeking to exert joint global influence. BRICS' mobilization...In the last few years, "the BRICS" or Brazil, Russia, India, China, and South Africa have been increasingly investing in developing their cooperation and seeking to exert joint global influence. BRICS' mobilization has been visible in the cooperation of high-level officials, deeper policy coordination, and the creation of BRICS institutions. As the BRICS intensify their pursuit of multipolarity, surprisingly little attention has been paid to the ways in which the BRICS has been received in the United States (US), which is a crucial stakeholder in creating a multipolar system. How is the BRICS represented in US foreign policy circles? This article examines the state of the US debate on the BR/CS, drawing on the per- spectives from foreign policy officials, top think tanks, and academics. It argues that there is a considerable gap between BRICS' multipolar aspirations and the perceptions of the grouping's promise and potential in the US. The BRICS is often marginalized in the US as an entity, and---even if accepted as such--it is considered ineffective in terms of its results. However, the BRICS benefits US foreign policy development: it challenges US officials to clarify their message on multipolarity; it reframes the debate from bilateral China vs. US competition to multilateral processes of providing global public goods; it generates a subfield of BRICS studies, which internationalize the production and consumption of knowledge in the field of global politics.展开更多
Cbina's rapid economic growth has benefited from the country's wellplaced position in the global production chain. But China encounters an acute security, dilemma externally and internally because it is integrating ...Cbina's rapid economic growth has benefited from the country's wellplaced position in the global production chain. But China encounters an acute security, dilemma externally and internally because it is integrating into a world system in which market democracies dominate and view China's rise with suspicion. Globalization changes, complicates, and benefits Chinese foreign policy. A growing China is also increasingly affecting globalization in its own image. Globalization has caused a backlash, particularly in developed countries, partly because of the China factor, and China's own commitment to globalization is being tested as economic problems mount in the current financial crisis.展开更多
基金supported by following projects:China Clean Development Mechanism Fund Project"Equity and Ambition Assessment on Major Parties NDCs under the2015 Agreement"(grant no.:2014094)"China-US Pragmatic Cooperative Technical Support Project for Climate Change"(grant no.:2013019)+2 种基金Ministry of Science and Technology Reform Specific Research and Development Project"Research on Major Urgent Issues on Climate Change after Paris Agreement,""Research on INDC and Influence and Counterplan of the Global Stocktake Mechanism"National Natural Science Foundation2017 emergency management project"the impact of the United States'withdrawal from the Paris Agreement on global climate governance and China's response strategy"
文摘On 1 June 2017, the US President Donald Trump officially announced the withdrawal from the Paris Agreement, thus the study on the reasons of withdrawal, the potential impacts, and coping strategies has become a focus among policy circles and of the international community. Based on the self-developed US Policy Assessment Model, this paper systematically evaluates the three potential "major deficits" in terms of mitigation, climate finance, and global climate governance, as a result of the US withdrawal from the Paris Agreement and puts forward policy suggestions for coping with such transformations accordingly. The study shows that the United States 'withdrawal from the Paris Agreement will affect the existence and implementation of successive climate policies and result in an additional 8.8-13.4% increase in the global emissions reduction deficit. The United States' withdrawal will also deteriorate the existing climate finance mechanism. The Green Climate Fund (GCF)'s funding gap will increase by USS2 billion, while the gap of long-term climate finance will increase by about USS5 billion a year. Either the China-EU or the "BASIC plus" mechanism could fill the governance deficit caused by the United States and the lack of political momentum may continue for a while in the future.
基金the Natural Social Science Foundation of China research fund(Grant No.10zd&007)the Ministry of Education research fund(Grant No.12YJC790269)the Natural Science Foundation of China research fund(Grant No.71103212) for financial support
文摘This paper first estimates the overall return on capital in China between 1978 and 2013. It then identifies the determinants of return on capital by analyzing provincial panel data and breaks down the causes of swerves in capital return after the eruption of the global financial crisis in 2008. It finds that: (1) there is significant inertia in the return on capital," (2) government intervention has significantly negative impact on capital return; (3) a significantly negative correlation is observed between investment rate and return on capital," and (4) the increases in the shares of secondary and tertiary industries in the economy have significantly positive impact on return on capital. This paper concludes that the growth in investment rate and the expansion of government size are both important contributors to the recent decline in China's return on capital since the financial crisis.
文摘China, Russia and India, three Eurasian BRICS countries, are close neighbors, geographically located in the Pacific Ocean, the Arctic Ocean and the Indian Ocean respectively. The research questions why these three countries have some similar characteristics in their diplomacies and foreign policies, which differentiates them both from traditional developed countries and typical developing countries. Before the assessment of this question, analysis of culture and its characteristics, international strategies and diplomacies of these three BRICS countries is necessary and appropriate. Culture plays a special and crucial role in international politics or international relations. The unique cultures of Eurasian BRICS countries, China, Russia and India, have special influences on their diplomacies, which has created a new landscape in current world economy and politics.
基金This research work was financially supported by the Shanghai Board of Education (2012-SHNGE-06ZD), China Postdoctoral Science Foundation funded project (2013M531157), and The Ministry of Education of Youth Fund Project of Humanities and Social Sciences Research(14YJC790152).
文摘International experiences show that when make full use of the regulation and service functions of financial mechanism, such as the establishment of greenhouse gas emissions trade market, further strengthening investigation in environmental risk of the financing projects according to equator principles, more fiscal and taxation policies that to encourage financial institutions to innovate green financial products, participation of supporting the international financial organizations in energy-saving and environmental protection (hereafter referred to as ESEP) projects, people can significantly improve the quality of the environment, and effectively control pollution emissions in a low cost. In order to improve the efficiency of Shanghai ESEP work, the local government should learn from the international advanced experiences to accelerate the establishment of green financial service system of ESEP, so that to better use finance leverage to build a resource conserving and environment-fxiendly society.
文摘The financial crisis in 2008 dragged the U.S. economy into the dilemma of imbalanced and sluggish growth. Thus, the federal government carried out the sustainable and balanced growth strategy. This paper draws the framework of U.S. new growth strategy and summarizes the main measures applied in last five years. Further, it assesses the comprehensive strategic effects on economy and finally discusses the future challenges for the U.S..
基金This research work was financially supported by Youth Teacher Fund Project of Shanghai University (Z20001-17-19 (AAYQ17018)), (Z20001-17-15(ZZjq17015)), the Shanghai Board of Education (2016-SHNGE-03ZD ), China Postdoctoral Science Foundation funded project (2013M531157), and The Ministry of Education of Youth Fund Project of Humanities and Social Sciences Research (14YJC790152)
文摘In recent years, the Chinese government has taken lots of measures to expand domestic demand and promote economic growth in response to the financial crisis. Accelerating the construction of indemnificatory housing is one of the most important measures. In order to solve the problem of the insufficient supply of the indemnificatory housing, the government speed up the construction of indemnificatory housing and constantly expand the scale of the construction. With the increase of indemnificatory housing, the problem of construction fund is increasingly highlighted. Large-scale construction of indemnificatory housing in the short term results in large funds pressure. Indemnificatory housing fund has several notable features, it requires a large demand for money and the capital turnover time is quite long. Also, its poor liquidity makes it difficult to get your money out at any time. In this article, the present situation and existing problems of indemnificatory housing are analyzed, the countermeasures and suggestions are put forward combining the capital sources of indemnificatory housing, so as to provide reference for indemnificatory housing financing.
基金supported by National Natural Science Foundation of China(Grant No.71403277)National Social Science Foundation of China(Grant No.12&ZD089)
文摘This study seeks to determine an effective boundary between government and market in light of modern financial theories.According to the findings of this paper,the relationship between government and market must be conceived of as under the "continuous spectrum of change" resulting from economic development.In practice,an effective frontier between government and market not only transforms continuously with the process of economic development but also demonstrates significant contrasts internationally according to the different national characteristics existing in each country.Determining a frontier between government and market requires that the relationship between the two be embedded into a broader set of institutional environmental constraints that incorporate consideration of the dynamic processes and mechanisms of economic development.The key issue is that government and market act with regard to the principle of comparative advantage as they play their respective roles.
文摘The purpose of this paper is to provide an economic overview of the costs and benefits of anti-money laundering (AML) rules. After defining and explaining the three stages of money laundering, the paper provides an insight into the volume and development of money laundering activities in the Central and Eastern Europe. It relies on international, comparative studies outlines the impact of AML measures on banks and other financial intermediaries Conditions of reporting suspicious activity and government agencies, which use these reports to identify investigation targets, are also analysed. Moreover, the paper discusses possible reasons for the failure of AML rules to fight against the crimes and collateral damage caused by AML. These figures, which are presented in this scientific research, give an indication of how important the money laundering problem and the level of organized crime are.
文摘Affter the eruption of the global financial crisis in 2008, China adopted proactive monetary expansion in an attempt to offset the economic slump. However, monetary expansion failed to bring the economy back to the state of the mean and instead caused tremendous negative output gaps that led to a negative producer price index (PPI) for three consecutive years. The impotence of monetary stimulation and investment seems to be caused by the emergence of the shocks of efficiency deceleration, i.e., a tremendous amount of supply proves ineffective, leading to accumulation of inventory due to lack of demand, lack of short term profitability or profitability being siphoning off by zombie firms. These inefficient firms, sectors of overcapacity and inefficient local infrastructure construction cannot be rescued by the infusion of money flow. Macroeconomic policy should stimulate the transformation of China's economy from rapid quantitative expansion to efficiency enhancement. For instance, tax credits should be offered for accelerated depreciation to clear up zombie firms and expedite mergers and acquisitions through capital markets. Institutional and inventory reform and adjustment must be carried out in order to complete the transition from quantitative expansion to high efficiency supply.
文摘China's mini-stimulus policy is justi^ed for some proven effects on economic stabilization. However, the policy should not be used on regular, long-term base. Mini- stimulus economic policy is still essentially investment-driven and by nature no different from the four trillion yuan stimulus package introduced in the aftermath of the global financial crisis of 2008. The policy strength of mini-stimulus packages the Chinese government resorted to has already accumulated to ascend to quite an extent. Further, ministimulus policy cannot stabilize growth and promote economic restructuring simultaneously. In fact, its effects on restructuring are short-term and may even be negative. Additionally, the diminishing potency of China's mini-stimulus policy efforts may force the government to resort to another hefty stimulus package with severe side effects. In the final analysis, it is social policy not economic stimuli that will help the Chinese economy achieve a soft landing.
文摘The current crisis has revealed the weaknesses of the global financial in general and its banking system in particular and puts forward a requirement for assessing the effectiveness and stability of the banking sectors across countries. Based on available data from 64 countries over the world, the author tried to evaluate the effectiveness of the banking sectors in those countries through the view point of the data envelopment analysis approach to define how the global banking systems is under the effect of the current crisis. Findings from the research showed that banking systems in advanced economies are still more effective than in developing countries. Moreover, it explained the effect of the current financial crisis, the role of public finance (and the government), and the development of the (privately) commercial banks to the effectiveness of the banking sectors. The research also explained some determinants that can affect the effectiveness of the banking system, including inflation, bank concentration, and level of economic development.
文摘National development requires adequate electricity supply of which all activities--generation, transmission and distribution leading to it are capital-intensive in terms of funds, natural and human resources. The dwindling power sector government funding coupled with low private sector participation and weak level political will require creative and innovative solutions in addressing the power supply problem in Nigeria. Hence, this paper seeks to examine power sector privatization as a viable option.
文摘In the last few years, "the BRICS" or Brazil, Russia, India, China, and South Africa have been increasingly investing in developing their cooperation and seeking to exert joint global influence. BRICS' mobilization has been visible in the cooperation of high-level officials, deeper policy coordination, and the creation of BRICS institutions. As the BRICS intensify their pursuit of multipolarity, surprisingly little attention has been paid to the ways in which the BRICS has been received in the United States (US), which is a crucial stakeholder in creating a multipolar system. How is the BRICS represented in US foreign policy circles? This article examines the state of the US debate on the BR/CS, drawing on the per- spectives from foreign policy officials, top think tanks, and academics. It argues that there is a considerable gap between BRICS' multipolar aspirations and the perceptions of the grouping's promise and potential in the US. The BRICS is often marginalized in the US as an entity, and---even if accepted as such--it is considered ineffective in terms of its results. However, the BRICS benefits US foreign policy development: it challenges US officials to clarify their message on multipolarity; it reframes the debate from bilateral China vs. US competition to multilateral processes of providing global public goods; it generates a subfield of BRICS studies, which internationalize the production and consumption of knowledge in the field of global politics.
文摘Cbina's rapid economic growth has benefited from the country's wellplaced position in the global production chain. But China encounters an acute security, dilemma externally and internally because it is integrating into a world system in which market democracies dominate and view China's rise with suspicion. Globalization changes, complicates, and benefits Chinese foreign policy. A growing China is also increasingly affecting globalization in its own image. Globalization has caused a backlash, particularly in developed countries, partly because of the China factor, and China's own commitment to globalization is being tested as economic problems mount in the current financial crisis.