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During 1997-98, many of the East Asian tiger economies suffered a severe financial and economic crisis. This had big consequences for the global financial markets, which had become increasingly exposed to the promise that Asia had seemed to offer. The crisis destroyed wealth on a massive scale and sent absolute poverty shooting up. In the banking system alone, corporate loans equivalent to around half of one year's GDP went bad - a destruction of savings on a scale more usually associated with a full-scale war. The precise cause of the crisis remains a matter of debate. Fingers have been pointed at the currency peg adopted by some countries, and a reduction of capital controls in the years before the crisis. Some blamed economic contagion. The crisis brought an end to a then widespread belief that there was a distinct "Asian way" of capitalism that might prove just as successful as capitalism in America or Europe. Instead, critics turned their fire on Asian cronyism, ill-disciplined banking and lack of transparency. In the years following the crisis, most of the countries involved have introduced reforms designed to increase transparency and improve the health of the banking system, although some (such as South Korea) went much further than others (such as Indonesia).
Industry:Economy
这是两个有影响力经济理论的资产如何定价的金融市场之一。另一种是资本资产定价模型。套利定价理论说金融资产的价格反映了几个关键的风险因素，例如预期利率，和资产的价格是如何变化的资产组合的价格。如果资产的价格恰好偏离理论所说的应该是，套利的投资者应将其恢复到线。
Industry:Economy
购买一项资产在一个市场中的，同时卖出另一个更高的价格在市场中的相同资产。有时，这些将是完全相同的资产在不同的市场，例如，在一家公司在伦敦证交所和纽约证交所上市的股票。经常被套购的资产将更复杂的方式完全相同，例如，他们将不同种类的金融证券，每个面临着相同的风险。某些种类的套利是完全无风险 — — 这是纯粹的套利。例如，如果欧元可用更便宜的在伦敦比在纽约美元，套利者 （也称为作为） 可以无风险的利润由伦敦欧元买入和卖出相同数量的他们在纽约。纯粹的套利的机会已成为罕见的在最近几年，部分原因是金融市场的全球化。今天，有很多的所谓套利，很多对冲基金，是有一些相似之处但不是完全相同的资产。这不是纯粹的套利，可以不无风险。
Industry:Economy
Government policy for dealing with monopoly. Antitrust laws aim to stop abuses of market power by big companies and, sometimes, to prevent corporate mergers and acquisitions that would create or strengthen a monopolist. There have been big differences in antitrust policies both among countries and within the same country over time. This has reflected different ideas about what constitutes a monopoly and, where there is one, what sorts of behavior are abusive. In the United States, monopoly policy has been built on the Sherman Antitrust Act of 1890. This prohibited contracts or conspiracies to restrain trade or, in the words of a later act, to monopolize commerce. In the early 20th century this law was used to reduce the economic power wielded by so-called "robber barons", such as JP Morgan and John D. Rockefeller, who dominated much of American industry through huge trusts that controlled companies' voting shares. Du Pont chemicals, the railroad companies and Rockefeller's Standard Oil, among others, were broken up. In the 1970s the Sherman Act was turned (ultimately without success) against IBM, and in 1982 it secured the break-up of AT&T's nationwide telecoms monopoly. In the 1980s a more laissez-faire approach was adopted, underpinned by economic theories from the Chicago school. These theories said that the only justification for antitrust intervention should be that a lack of competition harmed consumers, and not that a firm had become, in some ill-defined sense, too big. Some monopolistic activities previously targeted by antitrust authorities, such as predatory pricing and exclusive marketing agreements, were much less harmful to consumers than had been thought in the past. They also criticized the traditional method of identifying a monopoly, which was based on looking at what percentage of a market was served by the biggest firm or firms, using a measure known as the Herfindahl-Hirschman index. Instead, they argued that even a market dominated by one firm need not be a matter of antitrust concern, provided it was a contestable market. In the 1990s American antitrust policy became somewhat more interventionist. A high-profile lawsuit was launched against Microsoft in 1998. The giant software company was found guilty of anti-competitive behavior, which was said to slow the pace of innovation. However, fears that the firm would be broken up, signaling a far more interventionalist American antitrust policy, proved misplaced. The firm was not severely punished. In the UK, antitrust policy was long judged according to what policymakers decided was in the public interest. At times this approach was comparatively permissive of mergers and acquisitions; at others it was less so. However, in the mid-1980s the UK followed the American lead in basing antitrust policy on whether changes in competition harmed consumers. Within the rest of the European Union several big countries pursued policies of building up national champions, allowing chosen firms to enjoy some monopoly power at home which could be used to make them more effective competitors abroad. However, during the 1990s the European Commission became increasingly active in antitrust policy, mostly seeking to promote competition within the EU. In 2000, the EU controversially blocked a merger between two American firms, GE and Honeywell; the deal had already been approved by America's antitrust regulators. The controversy highlighted an important issue. As globalization increases, the relevant market for judging whether market power exists or is being abused will increasingly cover far more territory than any one single economy. Indeed, there may be a need to establish a global antitrust watchdog, perhaps under the auspices of the world trade organization.
Industry:Economy
运行下来或分期贷款的付款。一个例子是时间的偿还按揭贷款买房子，通过使每月的付款，在预先商定内支付的贷款加上利息价值摊销。未摊销的贷款，借款人在贷款期间支付唯一的兴趣，然后回报充分借来的总和。
Industry:Economy
经常被指称的利他主义是与经济合理性，假定人们自私行为不一致。当然，很多经济分析与个人的行为如何，有关，通常假定经济人 (经济人) 是他或她的自身利益的行为。然而，自身利益并不一定意味着自私。某些经济领域的行为经济学模型假设因为他们从那里得到一些好处或实用程序，这样做的自感兴趣的个人利他行为。例如，它可能会让他们感觉更好地了解自己，或说是反对社会动荡、 有用的保险政策。一些经济模式走得更远和放松的传统完全理性行为假设通过简单地假设人们有时行为利他，即使这可能是对其自身利益。不管怎样，有大量经济文献关于慈善机构、 国际援助、 公共开支和重新分配税收。
Industry:Economy
世界各地农业继续变得更有成效一般占较小份额的就业和国家收入，同时尽管在一些贫穷国家中它仍然是国家和人民所依赖的部门。农业、 林业和渔业于 1913 年在美国就业人数的 28%、 41%在法国和日本，60%，但只有 12%，英国占。现在从事这类活动的劳动力的比例降到低于 6%在这些和大多数其他工业化的国家。国际农业贸易的总价值稳步上升。但全球农业市场仍是严重扭曲的贸易壁垒和政府补贴，如欧洲联盟共同农业政策。
Industry:Economy
国家往往为使用贸易壁垒和补贴，因为，他们的农民提供支持，例如： * 国内农业，即使是低效的世界标准，可以是保险政策在它变得困难 （如它的用途，例如，在战时） 从国外 ； 购买农产品的情况下* 农民团体已证明善于游说 ；* 政客设法减缓人口的农村地区 ； 减少* 农产品价格可以是可变的不可预测的天气，除其他外 ；和 * 财政支持可以提供一个安全网在意外严重的市场条件。概括地说，政府曾尝试过补贴农业的两个方法。第一，在 1930 年代期间在美国使用并且在英国它加入欧洲联盟之前, 是对农民收入的充值如果他们低于认为可接受的水平。农民可能需要拨出他们的一些土地换取这种支持。第二是要保证最低水平的农场价格买进过剩和存储或摧毁它如果价格否则将会低于保证水平。这是由欧盟的做法，它设定了其共同农业政策的时候。来降低这种补贴的直接成本，欧盟使用贸易壁垒，包括导入徵款，以尽量减少对欧盟的竞争从农民生产可用更低廉的成本在世界农业市场上。最近美国的农场支持政策结合了收入顶部-ups 和一些保证价格。成为大多数国家的政府都更加致力于国际贸易，这种农业的政策得到了越来越多的攻击，虽然自由贸易的言论经常跑远比真正的改革。2003 年，富裕国家一起花了超过 $3000 亿一年支持他们的农民，超过六次什么他们花了对外国援助。找到一种方法来结束农业支持已成为到目前为止剩余的最大挑战对于那些试图谈判全球自由贸易。
Industry:Economy
