主管:教育部
主办:中国人民大学
ISSN 0257-2826  CN 11-1454/G4

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    Financialization and Real Economy——A Review of the Nature of Finance
    Fang Fang,Huang Runan
    Teaching and Research   
    Re-examination of the Pro-cyclical Effects of Finance in the Post-Crisis Period
    FANG Fang, LIU Peng
    Teaching and Research    2011, (9): 53-59.  
    Abstract1338)      PDF(pc) (789KB)(2037)       Save
    The pro-cyclical nature of finance is mainly shown in the reinforcing and exaggerating function of the effect of financial variables and behaviors of the financial subject on the economic cyclical fluctuation.It deepens the economic decline and postpones the economic revival.Finance cycle widely exists in the financial markets,varying with the financial subject,the economic period,the country and the region.While the pro-cyclical nature of finance originates from the behaviors of the financial subject,the external financial regulation further increases the scale of the fluctuation.Therefore,valid policies should be made to release the effect of financial cycle.Cautious regulation and market transparency should be enforced to better serve for the steady and healthy development of the financial system and the real economy.
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    Development and Options for the Chinese Financial Holding Companies
    FANG Fang, XU Jia-he
    Teaching and Research    2007, (4): 31-36.  
    Abstract1200)      PDF(pc) (673KB)(1908)       Save
    The wide spread of the financial mixed in the world will inevitable affect the open financial industry in China.Restricted by the diversified pattern of business the Chinese financial companies might be put in a disadvantageous position in face of the challenges from the powerful multinationals,because we do not provide overall service for the clients.The authors suggest that it is high time that we expand our scope of management and develop the Chinese financial holding companies.Therefore,choosing the right path for development becomes crucial.
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    On the Reform of Financial System in Republic of Korea and Its Implications
    FANG Fang
    Teaching and Research    2006, (5): 58-64.  
    Abstract1284)      PDF(pc) (767KB)(2288)       Save
    Modern economic theories support the idea that the financial system is an important means for a country to distribute its resources. In this sense,continuous reform and innovation of the financial system is a decisive factor for an industrialized country to upgrade its industry and achieve sustainable development.The author points out that the reform of financial system in the Republic of Korea offers several implications relevant to our own situations.First,privatization of the banks does not simply mean self-discipline; Second,free finance in an immature market demands that measurements for preventing risks within the enterprises be strengthened,while excessive protection from the government will only weaken the capacity of self-discipline in the enterprises and make them lose the spirit of creativity;Third,the principle of financial monitoring should change from "control and protection" to that of "self-discipline and competition".
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