过剩资本

本世纪以来，美国不仅吸收了全球其它国家70%的过剩资本，而且消费占到了增加的GDP的91%。

Not only has the US absorbed 70 per cent of the rest of the world 's surplus capital , but consumption has accounted for 91 per cent of the increase in gross domestic product in this decade .

较少的过剩资本又可能会改善核保纪律[注5]，推高保险费率。

Less surplus capital should improve underwriting discipline , pushing up rates .

Amaral预计，一旦它们发放房贷的比例超过这一水平，就会开始通过证券化，将过剩资本再投入房贷&可能增加系统性风险的证券化，在巴西仍处于初级阶段。

Once they get comfortably above it , Mr Amaral predicts , they will start ploughing the excess back into mortgages through securitisation , something still in its infancy in Brazil – and which could also increase systemic risk .

迄今为止，这两个资金池的过剩资本都是以美元计价的，并且对美元计价的债务有不知疲倦的需求。

These two pools of excess capital are US dollar denominated and have had a virtually insatiable demand for US dollar denominated debt * until now .

为了给这笔交易融资，宝盛将启动7.50亿瑞士法郎的配股，重新部署先前拟用于回购股票的过剩资本，并发行2亿瑞士法郎的混合新债券。

To fund the deal , Julius Baer will embark on a SFr750m rights issue , redeploy SFr530m of excess capital previously earmarked for a share buyback programme and issue SFr200m in new hybrid capital .

资本补贴会导致产能过剩和资本回报率低下。

The capital subsidy leads to overcapacity and low returns on capital .

同时银行的高储蓄率、不良贷款过多、流动性过剩、资本充足率不高等问题的存在导致我国银行业存在着危机。

High saving rate , non-performing loans , excess liquidity , capital adequacy ratio can banking crisis .

两次危机发生的原因最基本的相同点是流动性过剩且资本流动水平很高。

The basic similarities of the reason of the two crises are excess liquidity and the high level of capital flows .

通过对经济虚拟化现实的论证在费雪的货币公式的基础上提出基于实体经济商品价格与数量和资产价格与数量的货币公式，并通过对中国流动性过剩对资本市场稳定影响的实证分析。

Under the environment of economy capitalization , we propose a monetary model that bases on real economic commodity price quantity and capital asset price quantity using the fishery monetary formula .

经济自由主义者主张的所谓“劳动过剩，资本稀缺”是错误的，现在的中国是劳动和资本都过剩。

The so-called " excessive labor but scarce capital " advocated by some economic liberalists is wrong in view of the fact that both labor and capital are excessive in today 's China .

“这造成了大量的代理成本、服务严重过剩以及资本市场的功能失调”从而使得投资回报率占总资产的比例每年减少3%左右。

" This has led to a raft of agency costs , significant overservicing and dysfunctionality in capital markets " putting a penalty on investor returns that amounts to about 3 per cent of assets a year .

基于我国劳动力依然过剩，资本短缺的禀赋，本文提出应从过去片面强调资本积累速度或技术进步速度的模式，转为推动劳动偏向型技术进步。

Based on the endowment of labor force surplus and capital shortage , this article points out that the existing model of the one-sided emphasis on the speed of technological progress and capital accumulation should be transferred into the promotion of the labor biased technological progress .

经济的过快发展，货币升值势必导致本国过剩的资本，而这些资本必须进行正确的引导，否则会引发资本流入股市、房地产等虚拟经济，导致泡沫经济。

With the rapid development of economy , the appreciation will inevitably lead to a surplus of capital . Therefore , the capital must be directed properly ; otherwise , it will cause virtual economy , such as capital run into the stock market and real estates .

再加之由于中国目前劳动力资源的大量过剩和资本的相对稀缺，改革政策和措施的制定倾向于稀缺的资本，政策扶持的力度不断加强，但是劳动力资源长期维持相对较低水平。

In addition , China has a large surplus of labor resources and insufficient capital . The formulation of reform policies and measures tend to insufficient capital , and the policy support of the government is increasing , but the long-term labor resources maintain a relatively low level .

危机也暴露出欧元区容易受到公私部门过度举债的冲击，这是过剩储蓄流经资本不足的金融机构涌入不良投资所致。

The crisis also revealed the vulnerability of the eurozone to excessive accumulations of private and public sector leverage , caused by floods of surplus savings into bad investments via undercapitalised financial institutions .

流动性过剩条件下中国资本市场稳定性研究

Study on Stability of the Capital Market in China under the Excess Liquidity

在储蓄过剩的世界，资本外流的主要责任在各国政府。

In the savings-glut world , governments are responsible for much of the capital outflow .

实证结果表明实体经济与流动性过剩对中国的资本市场存在着显著的影响。

The empirical results demonstrate that China real economy and excess liquidity has prominent impact on the capital market .

全球性资金流动过剩，产业型资本、国际性股权私募基金正在全球范围内寻找目标，逐利性和霸道的强买逻辑是各路资本真实的本性。

Excess heat on global mobility , industrial capital and international private equity funds are finding their targets around the world .

迟早可以得出结论，投资过剩最终将导致资本流出，然后经济将被打回原形。

Sooner or later , it is argued , overcapacity will lead to a plunge in capital spending , bringing the economy crashing to earth .