Föhrenbergkreis Finanzwirtschaft

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Posts Tagged ‘Lin’

A New Year’s Development Resolution

Posted by hkarner - 2. Januar 2017

Photo of Kaushik Basu

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US war hawks’ Eurasia goal: Prevent Russo-German coalition, China’s OBOR project

Posted by hkarner - 31. Juli 2016

Dank an H.F. 

on July 29, 2016 in

US wants to stop a coalition between Germany and Russia because the combination of German capital and technology with Russian natural resources and manpower can counter American dominance. Its move to destabilize and throw countries “off balance” in Eurasia threatens China’s “One Belt, One Road” project that would help Eurasian economic integration and reduce ungoverned space for terrorist organizations to thrive. The world now waits to see if the US November election can usher in a new era of a multi-partner world to confront global challenges

It seems the American people and US allies from Europe to Asia are increasingly disenchanted with Washington war hawks’ policies that are threatening global stability.

At the Democratic National Convention, angry delegates shouted “no more war” when former CIA director and defense secretary Leon Panetta began to criticize Trump.[1] Den Rest des Beitrags lesen »

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China’s Silk Road Vision

Posted by hkarner - 22. Januar 2016

Photo of Justin Yifu Lin

Justin Yifu Lin

Justin Yifu Lin, a former chief economist and senior vice president at the World Bank, is Professor and Honorary Dean of the National School of Development, Peking University, and the founding director of the China Center for Economic Research. He is the author, most recently, of Against the Consensus: Reflections on the Great Recession.

JAN 21, 2016, Project Syndicate

BEIJING – In 2015, global headlines reflected mounting concerns about China’s slowing economy and whether the country can maintain its reform momentum and complete its shift to a new growth model based on higher domestic consumption and expanded services. Within China, however, confidence in the economy’s long-term trajectory remains undiminished. Indeed, although Chinese leaders are undoubtedly mindful of the growth slowdown, they remain focused on ensuring the realization of President Xi Jinping’s “one belt, one road” initiative. That will remain true in 2016.

Less than four decades after Deng Xiaoping initiated the strategy of “reform and opening up,” China has achieved upper middle-income status. It is now the world’s largest trading country and its second-largest economy (and the largest in terms of purchasing power parity). But, as China’s leaders know, much more needs to be done to secure what Xi has called “the great rejuvenation of the Chinese nation.” To join the ranks of the world’s high-income economies, China must use markets and resources, both at home and abroad, more efficiently. And it must assume more responsibility – and assert more influence – on the global stage. Den Rest des Beitrags lesen »

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Competition and bank opacity

Posted by hkarner - 26. Juli 2015

Liangliang Jiang, Ross Levine, Chen Lin 25 July 2015, voxeu

Associate Professor in Economics, Lingnan University, Hong Kong

Professor of Economics at Haas School of Business, University of California at Berkeley

Chen Lin

Professor in Finance at Department of Finance, Chinese University of Hong Kong

When banks manipulate their financial statements, this can increase bank opacity and interfere with the private governance and the official regulation of banks. In particular, banks manage their financial statements to smooth earnings, circumvent capital requirements, and reduce taxes. As shown in Beatty and Liao (2011), Bushman and Williams (2012), and Huizinga and Laeven (2012), such manipulations reduce bank stability, the market’s valuation of banks, and loan quality. More generally, the findings by King and Levine (1993) imply that any factor — including earnings management — that interferes with the governance of banks can distort capital allocation and slow growth. Den Rest des Beitrags lesen »

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