Financing Strategy of Low-Carbon Supply Chain with Capital Constraint under Cap-and-Trade Regulation

Cap-and-trade regulation provides incentives for manufacturers to reduce carbon emissions,but manufacturers’insufficient capital can disrupt the implementation of low-carbon emission reduction technologies.To alleviate capital constraints,manufacturers can adopt external financing for low-carbon emission reduction investments.This paper studies the independent financing and financing cooperation behavior in a supply chain in which the manufacturer and retailer first implement low-carbon emission reduction technologies and then organize production and sales in accordance with wholesale price contracts.Through comparing the optimal profits and low-carbon emission reduction levels under the independent financing and financing cooperation mode,we come to the following conclusions:(1)Although financing interest increases the cost of the supply chain,manufacturers prefer to invest in reducing carbon emissions rather than buying carbon quotas.(2)When financing independently,a decentralized decision-making mode(MD)is the best choice for manufacturers.(3)In cooperative financing,when the supply chain adopts a decentralized decision-making mode(SD)in which the retailer determines the financing cost-sharing ratio according to their optimal profit,the profits of the supply chain and its members are significantly improved.(4)When manufacturers and retailers adopt a centralized decision-making model(SC)in cooperative financing,they jointly determine the financing cost-sharing ratio and the level of low-carbon emission reduction.If the financing cost-sharing ratio meets a certain threshold range,the profits of manufacturers and retailers achieve Pareto improvement,indicating that this cooperative financing model is effective.

Alienation of Rural Cooperative Finance and the Innovation of Financial Organization in China

Based on the elaboration of the content and status of rural cooperative finance, rural cooperative finance--the alienation of rural credit cooperative is introduced from three aspects of the concept and objective of management, the organizational form and management mode, and the service object and business scope. Causes of alienation are analyzed. Firstly, change in the economic foundation of cooperative finance is the fundamental reasons for the alienation. Secondly, mandatory system change led by the government is an important reason for alienation. Thirdly, property and administration structure of rural credit cooperative are the internal reasons for alienation of agricultural support. To achieve the innovation of rural cooperative financial organization, the following aspects should be done: cultivating the basis for rural cooperative economy, further promoting the reform of rural credit cooperatives (innovating a variety of property rights modes; making clear definition of ownership; implementing the internal governance structure), introducing competition in the field of rural cooperative finance, and homing function of government and rural cooperative finance.

The analysis of the rural cooperative finance characteristic

The paper set off from the nature characteristics of rural cooperation finance, analyzing the finance cooperation in our rural areas. It points out that the supporting strength is difficult to maintain the need of simple reproduction, disturbing the consistence between the intense need of the important peasant household and the market-oriented development of enterprise produce What is more, and functional cultivating becomes reverse circulation, forming shoulders adjustment mechanism in the majority of our rural areas. In the long run, if we want to break the influence of the long-term effect of dual economy between urban and rural areas, plan the development of urban and rural as a whole, build socialism new rural area, the key is to comply with the principle ＂root in rural area, originally in the peasant, quality in cooperation ＂, build and perfect the serve system of rural cooperation finance.

Empirical analysis of the farmer's behavior under the new rural financial cooperatives in China

It's been well recognized for the big role played by innovative rural cooperative financial organizations in terms of spreading farmers' operation risk,increasing farmers' income,and developing rural economy.However,no sufficient research has been conducted regarding those factors which may have effects on the farmer's willingness to participate in the new rural financial organization.This paper tries to fill out the gap of identifying various factors which may have potential influence on the farmer's willingness to participate in the new type of rural financial cooperatives.In the process,442 farmer households and small-micro-enterprises are sampled from the cooperative finance experiment villages in Panjin municipality of Liaoning province.The potential influencing factors are classified into four categories,including the famer household's characteristics,financial cooperative reputation,transaction costs,and service quality.A discrete Logit model is used for the parameter estimations.The results show that most assumed factors display statistical significance effect on the farmer's willingness to take part in the rural cooperative financing organizations but with different level of sensitivity.The cause and effect are fully discussed following by addressing policy issues related to the rural financing cooperative reforms.

Joint Battle Against Transnational Crime

ON April 22,Interpol’s National Central Bureau of China released a list of 100 wanted criminals worldwide,most of which were suspected of bribe taking and embezzlement.Ranked No.2 on the list was Li Huabo,a former official with the finance department in Poyang County of Jiangxi Province,accused of embezzling RMB 94 million in public funds between 2006 and 2010.On May 9,2015,Li,who had fled to Singapore four years earlier,was repatriated to China.

Understanding equityeefficiency interaction in the distribution of global carbon budgets

Equity and efficiency are two important factors guiding the mitigation of anthropogenic emissions to achieve the Paris climate goals.Previous studies have proposed a range of allocations of global carbon budgets,but few have quantified the equity-efficiency interaction.Based on an investigation of the existing allocation literature,this study conducts a novel analysis using a‘mixed’allocation‘big-data’framework to understand the equityeefficiency interaction in the distribution of global carbon budgets under 2℃ and 1.5℃ warming targets.At a global scale,a carbon Gini coefficient and aggregate abatement costs are used as quantitative metrics to reflect equity and efficiency,respectively.Results show an equity-efficiency frontier that reflects the opportunity for the international community to co-improve equity and efficiency on top of existing allocations.However,the frontier also features strong trade-offs to further improve equity and efficiency if national allocations are to be achieved individually.Our analysis verifies that such trade-offs are sensitively dependent on the level of global connection and integration.Linking national mitigation actions and potentials can help promote equity-efficiency synergies and contribute to the efficient achievement of the Paris Agreement's temperature and equity goals.