短期资本流动与货币危机

过去10年来,新兴市场频繁爆发货币危机,从1994年的墨西哥Tequila危机,到1997年始于泰国的亚洲危机,1998年的俄罗斯危机,1999年巴西危机,尽管每次危机的原因各不相同,但它们却有一个突出的共同点——危机前伴有大量的私人资本流入,危机时则迅速逆转。资本流动,尤其以银行为中介的短期资本流动表现出巨大的波动性,其与货币危机具有明显的相关关系:短期资本的比率越大,危机的可能性则越大。因此,如果过度依赖短期资本流动,通常会导致货币危机。

Short-term Capital Flow and Currency Crisis

Core competition competence is the integration of the special powers possessed by the company to bring competition superiority. Evaluation of core competition competence has aroused the attention throughout the circle of management academicians. Making use of analytic hierarchy process and fuzzy comprehensive evaluation, this paper has evaluated the core competition competence of oil extraction enterprises in China. At last, this paper draws a conclusion that the cultivation of core competition competence is actually a process of converting resources into competence. To cultivate core competition competence, enterprises in China must spent more time and energy in cultivating management ability.