Government intervention and market regulation are two important ways in the process of economic operations, effective govemment intervention and market regulation can promote development of economic. This article brie...Government intervention and market regulation are two important ways in the process of economic operations, effective govemment intervention and market regulation can promote development of economic. This article briefly summarizes economists defined the government intervention and market regulation in the history of economic. Since the founding of New China, it elaborated to defining process of government intervention and market regulation in the development China＇ s economic. Under the new situation, it proposed government intervention should combine market regulation to achieve sound and fast development of economic. Market regulation in the development of vocational education for the economic development is the goal of training practical talents of vocational education. This objective requires that vocational education must work closely with the needs of economics＇ development and service for the economics＇ development. Under the system of planned economy, contraction between supply of talent and needs of economic is planning to achieve indirectly through a unified government.展开更多
As a data protection legislation with the dual objectives of market regulation and government supervision,the EU General Data Protection Regulation(GDPR)is designed to promote the cultivation of a market for data ele⁃...As a data protection legislation with the dual objectives of market regulation and government supervision,the EU General Data Protection Regulation(GDPR)is designed to promote the cultivation of a market for data ele⁃ments and to regulate the data processing subjects'behaviour.The civil legal norms to participate in the data market regulation are introduced,and a right-protected mode with the obligation norms of data controllers as the core is started by GDPR.However,from the perspective of GDPR's global enforcement effectiveness,as an export-orientated global standard and protection framework,the power regulation model of the EU's single digital market is facing the in⁃novative incentives of data market expansion and the tension of human rights protection.A more modest and moderate data governance regulation model has been opened by a new round of the EU digital market regulation.The legal sce⁃narios transition and digital platforms regulation more fit the regulatory demand and development goals of global digital economy development.The EU's determination to enhance the global digital market share and competitiveness is dem⁃onstrated.For China,the impact and security risks of the new round should be evaluated carefully,drawing on the ex⁃perience of the technical standpoint and institutional framework and regulatory rules of the EU digital market regula⁃tion,providing the regulatory models and Chinese solutions to respond to the EU digital market regulation,and enhanc⁃ing Chinese institutional discourse and rule-making leadership in the global digital economy.展开更多
This paper studies the trading behavior of an irrational insider and its influence on the market equilibrium in the presence of market regulation.We find that the market with only one insider with private information ...This paper studies the trading behavior of an irrational insider and its influence on the market equilibrium in the presence of market regulation.We find that the market with only one insider with private information is almost close to a strong efficient market,under the condition of market regulation.In the equilibrium,the probability of the insider being caught trading with private information is zero,which shows that the reasonable behavior of the regulator is to essentially give up regulation.But the market efficiency and the irrational trader’s trading intensity all greatly improve because of the existence of the market regulation.展开更多
Article 1. The regulations are promulgated in order to improve and develop the foreign exchange adjustment market, speed up the horizontal circulation of capital in foreign exchange and strengthen the macro-control of...Article 1. The regulations are promulgated in order to improve and develop the foreign exchange adjustment market, speed up the horizontal circulation of capital in foreign exchange and strengthen the macro-control of the foreign exchange market. Article 2. The State Exchange Control Administration is the governing body of the foreign exchange adjustment market.展开更多
Environmental regulation and industrial upgrading are the key to achieve win-win results for both economy and the environment. After environmental regulation tools are divided into market incentive and command control...Environmental regulation and industrial upgrading are the key to achieve win-win results for both economy and the environment. After environmental regulation tools are divided into market incentive and command control types,based on the provincial-level data of 30 provinces( cities and regions) in China from 2004 to 2016,the impact of environmental regulation on industrial upgrading and its transmission paths are empirically tested through an intermediary effect model. Technological innovation,FDI and capital market development all meet intermediary conditions,and the market incentive type is more dependent on technological innovation,while the command control type is more dependent on FDI and capital market development.The impact of the two environmental regulation tools on industrial upgrading is further studied. The results show that there is an " inverted U-shaped" relationship between the command control type and industrial upgrading,while there is a " U-shaped" relationship between the market incentive type and industrial upgrading,and there are also certain regional differences in the impact of environmental regulation on industrial upgrading.展开更多
The aim of this article is to present the principles of the operation of the Warsaw Stock Exchange （WSE）, which is the most important institution of the capital market in Poland. The article is an attempt to explore...The aim of this article is to present the principles of the operation of the Warsaw Stock Exchange （WSE）, which is the most important institution of the capital market in Poland. The article is an attempt to explore the history and structure of the exchange and its investment possibilities in order to understand the number of existing security features which make cooperation with this institution-with appropriate assumptions and diversification-an activity providing profits to potential investors who are aware of its operating rules. This topic deserves a historical outline because of the socialist past and the current status of the WSE, now called the most dynamically growing capital market in Central and Eastern Europe.展开更多
The recent outstanding issues,＂ puzzles of farmers, anxiety oflocal government and helplessness ofcentral government,＂ facing Chinese grain security, depend on the lack of national food security strategy. Therefore,...The recent outstanding issues,＂ puzzles of farmers, anxiety oflocal government and helplessness ofcentral government,＂ facing Chinese grain security, depend on the lack of national food security strategy. Therefore, we must reconstruct our national food security strategy with a cornerstone of an integrated productivity, the focus control of market regulation forces and the protection of sovereignty. By analyzing the status of integrated productivity, market regulation force and sovereign control, this essay proposes that we should change the concept from ＂ food production＂ to ＂foOd management＂, design the two systems of the interest coordination and the special safeguard, effectively improve the enthusiasm of the government＇ s undertaking work in grain-producing areas and farmers＇ farming work, firmly grasp the two initiatives of acquisition and processing of grain and operating inputs, and actively apply recommendations of the two regulators： food exports, processing and conversion.展开更多
This paper analyzes the oligopolistic equilibria of multiple price-maker agents in performance-based regulation(PBR)markets.In these markets,there are price-maker agents representing some frequency regulation(FR)provi...This paper analyzes the oligopolistic equilibria of multiple price-maker agents in performance-based regulation(PBR)markets.In these markets,there are price-maker agents representing some frequency regulation(FR)providers and a number of independent price-taker FR providers.A model of equilibrium problem with equilibrium constraints(EPECs)is employed in this paper to study the equilibria of a PBR market in the presence of price-maker agents and price-taker FR providers.Due to the incorporation of the FR providers’dynamics,the proposed model is reformulated as a mixed-integer linear programming(MILP)problem over innovative mathematical techniques.An optimal equilibrium point is also selected for the market,where none of the agents is the unique deviator and the dynamic performance of power system is improved simultaneously.The effectiveness of the proposed optimal equilibrium point is evaluated by comparing the outputs with the conventional optimal dispatches of the FR providers.展开更多
In answering three important questions related to natural law,this paper offers a coherent explanation of the market.We argue that the market,rather than a mechanism that simply serves narrow self-interests,finds its ...In answering three important questions related to natural law,this paper offers a coherent explanation of the market.We argue that the market,rather than a mechanism that simply serves narrow self-interests,finds its legitimacy in the ethical origins of the market order.The need for law to support and sustain the market,including by imposing necessary limits on the freedom of the market players,flows from those ethical origins.展开更多
China＇s securities markets have been experiencing high growth this year. The Shanghai Stock Exchange is now ranked as the fourth largest stock exchange of the world. So, who is protecting the Chinese investors in thi...China＇s securities markets have been experiencing high growth this year. The Shanghai Stock Exchange is now ranked as the fourth largest stock exchange of the world. So, who is protecting the Chinese investors in this fast growing and potentially volatile market？ The Incomplete Law Theory of Pistor and XU contends that regulators, as they are more efficient, play a more dominate role than the judiciary in protecting investors in the securities markets. This theory to some extent explains why the China＇s judiciary has been inactive in protecting investors in China, the host of the third largest securities market in the world. However, this article finds that the theory is not able to adequately explain the investor protection mechanism in China. We find that by deploying various political resources, the Chinese state plays a direct role in protecting the interest of investors that is often more significant than that played by judicial or regulatory authority action.展开更多
China’s Ministry of Land and Resources on Feb. 18 has issued an urgent notification on regulating the country’s real estate market. The notification has been already released to all of the Chinese provincial land an...China’s Ministry of Land and Resources on Feb. 18 has issued an urgent notification on regulating the country’s real estate market. The notification has been already released to all of the Chinese provincial land and resources bureaus, autonomous regions and municipalities, requires the strict control of land development for the building of commercial housing.展开更多
The economy as a whole and most of its constituent parts, like markets, government institutions, firms, or households, are inherently complex conceptual constructions. Micro-level diversity,decentralized interaction, ...The economy as a whole and most of its constituent parts, like markets, government institutions, firms, or households, are inherently complex conceptual constructions. Micro-level diversity,decentralized interaction, self-organization, adaptation and learning, emergence, and evolution, are some of the fundamental features that the above entities share and that allow to classify them as being complex entities. In a complex economic system, existing structures of interaction are in constant mutation as individual agents contact and influence one another and, by doing so, reshape the macro environment in which socio-economic relations unfold. Notwithstanding the observed pervasiveness of complexity in economics, there are a few areas of economic thought where the discussion on the theme has gained an exceptional relevance. In this article, six of such areas are identified and their complex nature is highlighted and scrutinized. These pertain to:(i) Knowledge interactions and technological innovation;(ii) Corporate design and organizational learning;(iii) Public policies directed at market regulation;(iv) Banking and financial markets;(v) Environmental economics, sustainability,and climate change;and(vi) income inequality.展开更多
The essay analyzes in a sociological and political science perspective several key aspects of the global economic-financial crisis which have either been neglected or not sufficiently analyzed in most scientific and m...The essay analyzes in a sociological and political science perspective several key aspects of the global economic-financial crisis which have either been neglected or not sufficiently analyzed in most scientific and media accounts. It focuses on two basic aspects： a） the coguitive framework prevailing among U. S. corporate, governmental and intellectual elites, i.e. the neodiberal conception of the self-regulating market, which deeply influenced their behaviour both in the market and in the political arena and b ） the mechanisms of pressure politics and political lobbying in the US Congress that managed to influence key decisions concerning de-regulation policy, in so far as to weaken the existing systems of institutional controls and to prevent new rules for new financial products. The last section evaluates President Obama＇s economic strategy and regulation policy in the light of the two basic aspects analysed in the first two sections, i.e. the action of lobbies and the influence of mainstream neo-hberal economics. The aim of the essay is to integrate the economic literature with a sociological and political analysis in order to gain clearer knowledge of the complex mechanisms of the crisis, which in turn can contribute to identifying key obstacles in implementing pohcies aimed at enforcing new forms of regulation of global markets.展开更多
文摘Government intervention and market regulation are two important ways in the process of economic operations, effective govemment intervention and market regulation can promote development of economic. This article briefly summarizes economists defined the government intervention and market regulation in the history of economic. Since the founding of New China, it elaborated to defining process of government intervention and market regulation in the development China＇ s economic. Under the new situation, it proposed government intervention should combine market regulation to achieve sound and fast development of economic. Market regulation in the development of vocational education for the economic development is the goal of training practical talents of vocational education. This objective requires that vocational education must work closely with the needs of economics＇ development and service for the economics＇ development. Under the system of planned economy, contraction between supply of talent and needs of economic is planning to achieve indirectly through a unified government.
基金The special project of Anhui Philosophy and Social Science Planning Project(AHSKXZX2021D03)。
文摘As a data protection legislation with the dual objectives of market regulation and government supervision,the EU General Data Protection Regulation(GDPR)is designed to promote the cultivation of a market for data ele⁃ments and to regulate the data processing subjects'behaviour.The civil legal norms to participate in the data market regulation are introduced,and a right-protected mode with the obligation norms of data controllers as the core is started by GDPR.However,from the perspective of GDPR's global enforcement effectiveness,as an export-orientated global standard and protection framework,the power regulation model of the EU's single digital market is facing the in⁃novative incentives of data market expansion and the tension of human rights protection.A more modest and moderate data governance regulation model has been opened by a new round of the EU digital market regulation.The legal sce⁃narios transition and digital platforms regulation more fit the regulatory demand and development goals of global digital economy development.The EU's determination to enhance the global digital market share and competitiveness is dem⁃onstrated.For China,the impact and security risks of the new round should be evaluated carefully,drawing on the ex⁃perience of the technical standpoint and institutional framework and regulatory rules of the EU digital market regula⁃tion,providing the regulatory models and Chinese solutions to respond to the EU digital market regulation,and enhanc⁃ing Chinese institutional discourse and rule-making leadership in the global digital economy.
基金supported by the National Natural Science Foundation of China (No. 11971097, 11201060,11126107)Fundamental Research Funds for Central Universitiesthe financial support from the General Project of Science and Technology Plan of Beijing Municipal Commission of Education (No. KM202010017001)
文摘This paper studies the trading behavior of an irrational insider and its influence on the market equilibrium in the presence of market regulation.We find that the market with only one insider with private information is almost close to a strong efficient market,under the condition of market regulation.In the equilibrium,the probability of the insider being caught trading with private information is zero,which shows that the reasonable behavior of the regulator is to essentially give up regulation.But the market efficiency and the irrational trader’s trading intensity all greatly improve because of the existence of the market regulation.
文摘Article 1. The regulations are promulgated in order to improve and develop the foreign exchange adjustment market, speed up the horizontal circulation of capital in foreign exchange and strengthen the macro-control of the foreign exchange market. Article 2. The State Exchange Control Administration is the governing body of the foreign exchange adjustment market.
文摘Environmental regulation and industrial upgrading are the key to achieve win-win results for both economy and the environment. After environmental regulation tools are divided into market incentive and command control types,based on the provincial-level data of 30 provinces( cities and regions) in China from 2004 to 2016,the impact of environmental regulation on industrial upgrading and its transmission paths are empirically tested through an intermediary effect model. Technological innovation,FDI and capital market development all meet intermediary conditions,and the market incentive type is more dependent on technological innovation,while the command control type is more dependent on FDI and capital market development.The impact of the two environmental regulation tools on industrial upgrading is further studied. The results show that there is an " inverted U-shaped" relationship between the command control type and industrial upgrading,while there is a " U-shaped" relationship between the market incentive type and industrial upgrading,and there are also certain regional differences in the impact of environmental regulation on industrial upgrading.
文摘The aim of this article is to present the principles of the operation of the Warsaw Stock Exchange （WSE）, which is the most important institution of the capital market in Poland. The article is an attempt to explore the history and structure of the exchange and its investment possibilities in order to understand the number of existing security features which make cooperation with this institution-with appropriate assumptions and diversification-an activity providing profits to potential investors who are aware of its operating rules. This topic deserves a historical outline because of the socialist past and the current status of the WSE, now called the most dynamically growing capital market in Central and Eastern Europe.
文摘The recent outstanding issues,＂ puzzles of farmers, anxiety oflocal government and helplessness ofcentral government,＂ facing Chinese grain security, depend on the lack of national food security strategy. Therefore, we must reconstruct our national food security strategy with a cornerstone of an integrated productivity, the focus control of market regulation forces and the protection of sovereignty. By analyzing the status of integrated productivity, market regulation force and sovereign control, this essay proposes that we should change the concept from ＂ food production＂ to ＂foOd management＂, design the two systems of the interest coordination and the special safeguard, effectively improve the enthusiasm of the government＇ s undertaking work in grain-producing areas and farmers＇ farming work, firmly grasp the two initiatives of acquisition and processing of grain and operating inputs, and actively apply recommendations of the two regulators： food exports, processing and conversion.
文摘This paper analyzes the oligopolistic equilibria of multiple price-maker agents in performance-based regulation(PBR)markets.In these markets,there are price-maker agents representing some frequency regulation(FR)providers and a number of independent price-taker FR providers.A model of equilibrium problem with equilibrium constraints(EPECs)is employed in this paper to study the equilibria of a PBR market in the presence of price-maker agents and price-taker FR providers.Due to the incorporation of the FR providers’dynamics,the proposed model is reformulated as a mixed-integer linear programming(MILP)problem over innovative mathematical techniques.An optimal equilibrium point is also selected for the market,where none of the agents is the unique deviator and the dynamic performance of power system is improved simultaneously.The effectiveness of the proposed optimal equilibrium point is evaluated by comparing the outputs with the conventional optimal dispatches of the FR providers.
文摘In answering three important questions related to natural law,this paper offers a coherent explanation of the market.We argue that the market,rather than a mechanism that simply serves narrow self-interests,finds its legitimacy in the ethical origins of the market order.The need for law to support and sustain the market,including by imposing necessary limits on the freedom of the market players,flows from those ethical origins.
文摘China＇s securities markets have been experiencing high growth this year. The Shanghai Stock Exchange is now ranked as the fourth largest stock exchange of the world. So, who is protecting the Chinese investors in this fast growing and potentially volatile market？ The Incomplete Law Theory of Pistor and XU contends that regulators, as they are more efficient, play a more dominate role than the judiciary in protecting investors in the securities markets. This theory to some extent explains why the China＇s judiciary has been inactive in protecting investors in China, the host of the third largest securities market in the world. However, this article finds that the theory is not able to adequately explain the investor protection mechanism in China. We find that by deploying various political resources, the Chinese state plays a direct role in protecting the interest of investors that is often more significant than that played by judicial or regulatory authority action.
文摘China’s Ministry of Land and Resources on Feb. 18 has issued an urgent notification on regulating the country’s real estate market. The notification has been already released to all of the Chinese provincial land and resources bureaus, autonomous regions and municipalities, requires the strict control of land development for the building of commercial housing.
基金supported by the Portuguese National Funding Agency for ScienceResearch and Technology(FCT)+1 种基金under the Project UID/SOC/04521/2020by the Instituto Polit′ecnico de Lisboa as a part of the IPL/2019/MacroV irtu/ISCAL and IPL/2020/MacroRates/ISCAL Projects。
文摘The economy as a whole and most of its constituent parts, like markets, government institutions, firms, or households, are inherently complex conceptual constructions. Micro-level diversity,decentralized interaction, self-organization, adaptation and learning, emergence, and evolution, are some of the fundamental features that the above entities share and that allow to classify them as being complex entities. In a complex economic system, existing structures of interaction are in constant mutation as individual agents contact and influence one another and, by doing so, reshape the macro environment in which socio-economic relations unfold. Notwithstanding the observed pervasiveness of complexity in economics, there are a few areas of economic thought where the discussion on the theme has gained an exceptional relevance. In this article, six of such areas are identified and their complex nature is highlighted and scrutinized. These pertain to:(i) Knowledge interactions and technological innovation;(ii) Corporate design and organizational learning;(iii) Public policies directed at market regulation;(iv) Banking and financial markets;(v) Environmental economics, sustainability,and climate change;and(vi) income inequality.
文摘The essay analyzes in a sociological and political science perspective several key aspects of the global economic-financial crisis which have either been neglected or not sufficiently analyzed in most scientific and media accounts. It focuses on two basic aspects： a） the coguitive framework prevailing among U. S. corporate, governmental and intellectual elites, i.e. the neodiberal conception of the self-regulating market, which deeply influenced their behaviour both in the market and in the political arena and b ） the mechanisms of pressure politics and political lobbying in the US Congress that managed to influence key decisions concerning de-regulation policy, in so far as to weaken the existing systems of institutional controls and to prevent new rules for new financial products. The last section evaluates President Obama＇s economic strategy and regulation policy in the light of the two basic aspects analysed in the first two sections, i.e. the action of lobbies and the influence of mainstream neo-hberal economics. The aim of the essay is to integrate the economic literature with a sociological and political analysis in order to gain clearer knowledge of the complex mechanisms of the crisis, which in turn can contribute to identifying key obstacles in implementing pohcies aimed at enforcing new forms of regulation of global markets.
