{"id":251571,"date":"2021-09-18T03:06:25","date_gmt":"2021-09-17T19:06:25","guid":{"rendered":"\/\/m.catawbaoil.com\/251571.html"},"modified":"2021-09-18T03:06:25","modified_gmt":"2021-09-17T19:06:25","slug":"%e9%a9%ac%e9%aa%8f%ef%bc%9a%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e4%bc%a0%e5%af%bc%e6%9c%ba%e5%88%b6%e7%a0%94%e7%a9%b6%e5%8f%8a%e6%84%8f%e4%b9%89","status":"publish","type":"post","link":"\/\/m.catawbaoil.com\/251571.html","title":{"rendered":"\u9a6c\u9a8f\uff1a\u8d27\u5e01\u653f\u7b56\u4f20\u5bfc\u673a\u5236\u7814\u7a76\u53ca\u610f\u4e49"},"content":{"rendered":"<div>\n<p><p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><span style=\"white-space:nowrap;\"><strong>\u6765\u6e90\uff1a\u4e2d\u56fd\u91d1\u878d\u6742\u5fd7<\/strong><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">\u5bfc\u8bfb\uff1a\u76ee\u524d\uff0c\u4e0d\u8bba\u662f\u91c7\u7528\u6570\u91cf\u578b\u8fd8\u662f\u4ef7\u683c\u578b\u8d27\u5e01\u653f\u7b56\u6846\u67b6\uff0c\u4e0d\u8bba\u662f\u7528\u54ea\u4e2a\u77ed\u671f\u5229\u7387\u4f5c\u4e3a\u653f\u7b56\u5229\u7387\uff0c\u90fd\u4f1a\u51fa\u73b0\u6c11\u8425\u4f01\u4e1a\u878d\u8d44\u96be\u5ea6\u52a0\u5927\u7684\u95ee\u9898<span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><strong>\u4f5c\u8005\uff5c\u9a6c\u9a8f\u300c\u6e05\u534e\u5927\u5b66\u91d1\u878d\u4e0e\u53d1\u5c55\u7814\u7a76\u4e2d\u5fc3\u4e3b\u4efb\u3001\u4e2d\u56fd\u4eba\u6c11\u94f6\u884c\u8d27\u5e01\u653f\u7b56\u59d4\u5458\u4f1a\u59d4\u5458\u3001\u4e2d\u56fd\u9996\u5e2d\u7ecf\u6d4e\u5b66\u5bb6\u8bba\u575b\u526f\u7406\u4e8b\u957f\u300d<\/strong><span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><strong>\u6587\u7ae0\uff5c\u300a\u4e2d\u56fd\u91d1\u878d\u300b<\/strong><span><strong>2019<\/strong><\/span><strong>\u5e74\u7b2c<\/strong><span><strong>1<\/strong><\/span><strong>\u671f<\/strong><span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">2018<\/span><span style=\"font-size:12.0pt;line-height:150%;\">\u5e74<span>9<\/span>\u6708\uff0c\u56fd\u52a1\u9662\u91d1\u878d\u7a33\u5b9a\u53d1\u5c55\u59d4\u5458\u4f1a\u660e\u786e\u63d0\u51fa\uff0c\u8981<span>\u201c<\/span>\u66f4\u52a0\u91cd\u89c6\u6253\u901a\u8d27\u5e01\u653f\u7b56\u4f20\u5bfc\u673a\u5236\uff0c\u63d0\u9ad8\u670d\u52a1\u5b9e\u4f53\u7ecf\u6d4e\u7684\u80fd\u529b\u548c\u6c34\u5e73<span>\u201d<\/span>\u3002\u4e8b\u5b9e\u4e0a\uff0c\u8d27\u5e01\u653f\u7b56\u4f20\u5bfc\u673a\u5236\u662f\u8bb8\u591a\u5b66\u8005\u591a\u5e74\u6765\u4e00\u76f4\u7814\u7a76\u7684\u95ee\u9898\uff0c\u7b14\u8005\u5bf9\u8fd1\u5e74\u6765\u5728\u8be5\u9886\u57df\u7684\u5b66\u672f\u7814\u7a76\u89c2\u70b9\u4f5c\u4e00\u7b80\u8981\u8bc4\u8ff0\uff0c\u5206\u6790\u8be5\u95ee\u9898\u7684\u73b0\u5b9e\u610f\u4e49\uff0c\u5e76\u5bf9\u4e0e\u6b64\u76f8\u5173\u7684\u8d27\u5e01\u653f\u7b56\u8f6c\u578b\u8def\u5f84\u7814\u7a76\u8fdb\u884c\u68b3\u7406\u3002<span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><strong>\u5173\u4e8e\u5229\u7387\u4f20\u5bfc\u673a\u5236<\/strong><span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">\u8fd1\u5e74\u6765\uff0c\u5173\u4e8e\u8d27\u5e01\u653f\u7b56\u4f20\u5bfc\u7684\u8bb8\u591a\u7814\u7a76\u6587\u732e\u96c6\u4e2d\u5728\u77ed\u671f\u5e02\u573a\u5229\u7387\u5411\u4e2d\u957f\u671f\u5229\u7387\uff08\u5305\u62ec\u503a\u5238\u5229\u7387\u548c\u5b58\u8d37\u6b3e\u5229\u7387\uff09\u7684\u4f20\u5bfc\u673a\u5236\u3002\u7814\u7a76\u8fd9\u4e2a\u95ee\u9898\u7684\u610f\u4e49\u5728\u4e8e\uff0c\u5982\u679c\u65e0\u6cd5\u4fdd\u8bc1\u77ed\u671f\u5229\u7387\uff08\u5982\u672a\u6765\u7684\u653f\u7b56\u5229\u7387\uff09\u5411\u4e2d\u957f\u671f\u5229\u7387\u7684\u6709\u6548\u4f20\u5bfc\uff0c\u90a3\u4e48\u4ece\uff08\u4ee5\u8c03\u63a7\u8d37\u6b3e\u989d\u5ea6\u4e3a\u7279\u5f81\u7684\uff09\u6570\u91cf\u578b\u8d27\u5e01\u653f\u7b56\u6846\u67b6\u5411\uff08\u4ee5\u8c03\u63a7\u653f\u7b56\u5229\u7387\u4e3a\u7279\u5f81\u7684\uff09\u4ef7\u683c\u578b\u8d27\u5e01\u653f\u7b56\u6846\u67b6\u7684\u8f6c\u578b\u5c31\u6ca1\u6709\u575a\u5b9e\u7684\u57fa\u7840\u3002\u56e0\u6b64\u6709\u5fc5\u8981\u8bc4\u4f30\u6211\u56fd\u77ed\u671f\u5229\u7387\u5411\u957f\u671f\u5229\u7387\u7684\u4f20\u5bfc\u6548\u7387\uff0c\u8bc6\u522b\u4f20\u5bfc\u53d7\u963b\u7684\u539f\u56e0\uff0c\u5e76\u63d0\u51fa\u76f8\u5e94\u7684\u89e3\u51b3\u529e\u6cd5\u3002<span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">\u4f55\u4e1c\u4e0e\u738b\u7ea2\u6797\u5728\u300a\u5229\u7387\u53cc\u8f68\u5236\u4e0e\u4e2d\u56fd\u8d27\u5e01\u653f\u7b56\u5b9e\u65bd\u300b\uff08\u300a\u91d1\u878d\u7814\u7a76\u300b<span>2011<\/span>\u5e74\u7b2c<span>12<\/span>\u671f\uff09\u4e2d\u7528\u7406\u8bba\u6a21\u578b\u663e\u793a\uff0c\u4ee5\u5b58\u6b3e\u5229\u7387\u4e0a\u9650\u4e3a\u6838\u5fc3\u7684\u5229\u7387\u53cc\u8f68\u5236\u4f53\u7cfb\u51b3\u5b9a\u4e86\u5f53\u65f6\u4e2d\u56fd\u8d27\u5e01\u653f\u7b56\u4f53\u7cfb\u4e2d\u6570\u91cf\u4e0e\u4ef7\u683c\u624b\u6bb5\u5e76\u91cd\u7684\u7279\u70b9\u3002\u8be5\u6587\u89e3\u91ca\u4e86\u5229\u7387\u53cc\u8f68\u5236\u4e0b\u8d27\u5e01\u653f\u7b56\u76ee\u6807\u5982\u4f55\u4f20\u5bfc\u81f3\u5e02\u573a\u5229\u7387\uff0c\u5e76\u4e0e\u4fe1\u8d37\u603b\u89c4\u6a21\u4e00\u8d77\u51b3\u5b9a\u5bf9\u5b9e\u4f53\u7ecf\u6d4e\u7684\u8c03\u63a7\u3002\u9a6c\u9a8f\u3001\u65bd\u5eb7\u3001\u738b\u7ea2\u6797\u3001\u738b\u7acb\u5347\u5728\u300a\u5229\u7387\u4f20\u5bfc\u673a\u5236\u7684\u52a8\u6001\u7814\u7a76\u300b\uff08\u300a\u91d1\u878d\u7814\u7a76\u300b<span>2016<\/span>\u5e74\u7b2c<span>1<\/span>\u671f\uff09\u4e2d\u7528<span>DSGE<\/span>\u6a21\u578b\u8bc1\u660e\uff0c\u6211\u56fd\u5229\u7387\u4f20\u5bfc\u8fd8\u4e0d\u591f\u901a\u7545\uff0c\u4e3b\u8981\u53d7\u5230\u5bf9\u8d37\u6b3e\u7684\u6570\u91cf\u7ba1\u5236<span>(<\/span>\u5982\u5408\u610f\u8d37\u6b3e\u89c4\u6a21<span>)<\/span>\u3001\u5b58\u6b3e\u51c6\u5907\u91d1\u7387\u8fc7\u9ad8\u3001\u4f01\u4e1a\u8f6f\u9884\u7b97\u7ea6\u675f\u548c\u503a\u5238\u5e02\u573a\u6d41\u52a8\u6027\u4e0d\u8db3\u7b49\u95ee\u9898\u7684\u5236\u7ea6\uff0c\u5e76\u63d0\u51fa\u4e86\u5f31\u5316\u5bf9\u8d37\u6b3e\u7684\u6570\u91cf\u7ba1\u5236\u3001\u9010\u6b65\u964d\u4f4e\u5b58\u6b3e\u51c6\u5907\u91d1\u7387\u3001\u5f3a\u5316\u501f\u6b3e\u4eba\u9884\u7b97\u7ea6\u675f\u548c\u5b8c\u5584\u503a\u5238\u5e02\u573a\u7b49\u591a\u9879\u5efa\u8bae\u3002<span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">\u4f55\u6653\u8d1d\u5728\u300a\u5229\u7387\u4f20\u5bfc\u673a\u5236\u8bc4\u4f30\u300b\uff08\u300a\u6e05\u534e\u5927\u5b66\u56fd\u5bb6\u91d1\u878d\u7814\u7a76\u9662\u7814\u7a76\u62a5\u544a\u300b<span>2018<\/span>\u5e74\u7b2c<span>15<\/span>\u671f\uff09\u4e2d\u7528\u6700\u65b0\u6570\u636e\u548c\u591a\u4e2a\u5b9e\u8bc1\u6a21\u578b\u663e\u793a\uff0c\u6211\u56fd\u901a\u8fc7\u503a\u5238\u5e02\u573a\u7684\u5229\u7387\u4f20\u5bfc\u673a\u5236\u5df2\u7ecf\u521d\u6b65\u5efa\u7acb\uff0c\u4f46\u901a\u8fc7\u94f6\u884c\u4f53\u7cfb\u7684\u4f20\u5bfc\u673a\u5236\u4ecd\u5f88\u5f31\u3002\u4f5c\u8005\u6307\u51fa\uff0c\u963b\u788d\u77ed\u671f\u5e02\u573a\u5229\u7387\u5411\u8d37\u6b3e\u5229\u7387\u4f20\u5bfc\u7684\u539f\u56e0\u5305\u62ec\uff1a\u77ed\u671f\u5229\u7387\u6ce2\u52a8\u4ecd\u7136\u8fc7\u5927\uff0c\u96be\u4ee5\u6210\u4e3a\u653f\u7b56\u5229\u7387\uff1b\u5546\u4e1a\u94f6\u884c\u7684\u5b58\u8d37\u6b3e\u5b9a\u4ef7\u4ecd\u7136\u4e3b\u8981\u4f9d\u8d56\u5b58\u8d37\u6b3e\u57fa\u51c6\u5229\u7387\uff1b\u76d1\u7ba1\u90e8\u95e8\u4e3a\u9632\u6b62<span>\u201c<\/span>\u8fc7\u5ea6\u7ade\u4e89<span>\u201d<\/span>\uff0c\u901a\u8fc7\u7a97\u53e3\u6307\u5bfc\u8981\u6c42\u91d1\u878d\u673a\u6784<span>\u201c<\/span>\u81ea\u5f8b<span>\u201d<\/span>\u7b49\u3002<span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">\u5f90\u5fe0\u3001\u7eaa\u654f\u3001\u725b\u6155\u9e3f\u5728\u300a\u4e2d\u56fd\u8d27\u5e01\u653f\u7b56\u8f6c\u578b\uff1a\u8f6c\u8f68\u8def\u5f84\u4e0e\u5371\u673a\u53cd\u601d\u300b\uff08\u7ecf\u6d4e\u7ba1\u7406\u51fa\u7248\u793e\uff0c<span>2018<\/span>\u5e74<span>5<\/span>\u6708\uff09\u4e00\u4e66\u4e2d\u63a2\u8ba8\u4e86\u8d27\u5e01\u4ef7\u683c\u8c03\u63a7\u6a21\u5f0f\u4e0b\u4e2d\u671f\u653f\u7b56\u5229\u7387\u5f15\u5bfc\u3001\u57fa\u51c6\u653f\u7b56\u5229\u7387\u548c\u64cd\u4f5c\u76ee\u6807\u5229\u7387\u9009\u62e9\u7b49\u76f8\u5173\u95ee\u9898\u3002\u4f5c\u8005\u8ba4\u4e3a\uff0c\u5229\u7387\u8d70\u5eca\u64cd\u4f5c\u53ef\u4ee5\u8f83\u4e3a\u6709\u6548\u5730\u5f15\u5bfc\u5e02\u573a\u9884\u671f\uff0c\u964d\u4f4e\u5e02\u573a\u5229\u7387\u6ce2\u52a8\uff0c\u51cf\u5c11\u592e\u884c\u516c\u5f00\u5e02\u573a\u64cd\u4f5c\u6210\u672c\uff1b\u5728\u5411\u65b0\u7684\u8d27\u5e01\u653f\u7b56\u6846\u67b6\u7684\u8fc7\u6e21\u4e2d\uff0c\u5e94\u786e\u7acb\u6211\u56fd\u592e\u884c\u653f\u7b56\u5229\u7387\u4ee5\u951a\u5b9a\u9884\u671f\u4e0e\u5f15\u5bfc\u9884\u671f\uff0c\u5efa\u7acb\u516c\u5f00\u3001\u900f\u660e\u3001\u53ef\u4fe1\u7684\u5229\u7387\u8d70\u5eca\uff0c\u5e76\u8fdb\u4e00\u6b65\u5b8c\u5584\u62b5\u62bc\u54c1\u673a\u5236\uff0c\u63d0\u5347\u672a\u6765\u653f\u7b56\u5229\u7387\u7684\u5e02\u573a\u8ba4\u53ef\u5ea6\u548c\u57fa\u51c6\u6027\uff0c\u4e3a\u5229\u7387\u653f\u7b56\u7684\u6709\u6548\u4f20\u5bfc\u63d0\u4f9b\u57fa\u7840\u3002<span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">\u9c81\u653f\u59d4\u5728\u300a\u4e94\u5927\u7ec6\u8282\u8ba9\u8d27\u5e01\u653f\u7b56\u4f20\u5bfc\u4e0d\u7545\u300b\uff08\u300a\u9646\u5bb6\u5634\u6742\u5fd7\u300b<span>2018<\/span>\u5e74<span>11<\/span>\u6708<span>29<\/span>\u65e5\uff09\u4e00\u6587\u4e2d\u63d0\u51fa\u4e86\u53cd\u601d\u5bf9\u540c\u4e1a\u8d1f\u503a\u6bd4\u4f8b\u7684\u9650\u5236\u3001\u7ee7\u7eed\u7528\u964d\u51c6\u6765\u66ff\u4ee3<span>MLF<\/span>\u3001\u4fee\u6539\u4e0a\u5e02\u516c\u53f8\u80a1\u6743\u76d1\u7763\u7ba1\u7406\u529e\u6cd5\u3001\u8fdb\u4e00\u6b65\u660e\u786e<span>\u201c<\/span>\u6807<span>\u201d<\/span>\u4e0e<span>\u201c<\/span>\u975e\u6807<span>\u201d<\/span>\u8d44\u4ea7\u7684\u5212\u5206\u3001\u660e\u786e\u503a\u5238\u7684\u8fdd\u7ea6\u5904\u7f6e\u6d41\u7a0b\u7b49\u5177\u4f53\u5efa\u8bae\u3002<span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><strong>\u5173\u4e8e\u6c11\u8425\u4f01\u4e1a\u878d\u8d44\u96be\u878d\u8d44\u8d35<\/strong><span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">2018<\/span><span style=\"font-size:12.0pt;line-height:150%;\">\u5e74\u4ee5\u6765\uff0c\u8d27\u5e01\u653f\u7b56\u4f20\u5bfc\u673a\u5236\u95ee\u9898\u5907\u53d7\u5173\u6ce8\uff0c\u4e3b\u8981\u539f\u56e0\u662f\uff0c\u5728\u7ecf\u6d4e\u4e0b\u884c\u7684\u80cc\u666f\u4e0b\uff0c\u4eba\u6c11\u94f6\u884c\u9002\u5ea6\u8c03\u6574\u4e86\u8d27\u5e01\u653f\u7b56\u7684\u64cd\u4f5c\uff0c\u94f6\u884c\u4f53\u7cfb\u4e2d\u7684\u6d41\u52a8\u6027\u5df2\u7ecf\u6bd4\u8f83\u5145\u88d5\uff0c\u77ed\u671f\u5229\u7387\u5f00\u59cb\u8d70\u4f4e\uff0c\u4f46\u5b9e\u4f53\u7ecf\u6d4e\u4e2d\u7684\u4e0d\u5c11\u4f01\u4e1a\uff0c\u5c24\u5176\u662f\u6c11\u8425\u548c\u4e2d\u5c0f\u4f01\u4e1a\uff0c\u4ecd\u7136\u611f\u5230\u8d44\u91d1\u9762\u5f88\u7d27\u3002<span>2018<\/span>\u5e74<span>9<\/span>\u6708\u524d\u540e\uff0c\u8bb8\u591a\u8bc4\u7ea7\u4e3a<span>AA<\/span>\u7ea7\u7684\u6c11\u8425\u4f01\u4e1a\u7684\u53d1\u503a\u6210\u672c\u6bd4\u4e0a\u5e74\u540c\u671f\u4e0a\u5347\u4e86\u7ea6<span>300<\/span>\u4e2a\u57fa\u70b9\uff0c\u4e5f\u6709\u4e9b\u6c11\u8425\u4f01\u4e1a\u4ece\u94f6\u884c\u6839\u672c\u501f\u4e0d\u5230\u94b1\u3002\u8fd9\u79cd\u60c5\u51b5\u4e5f\u88ab\u666e\u904d\u8ba4\u4e3a\u662f\u8d27\u5e01\u653f\u7b56\u4f20\u5bfc\u53d7\u963b\u3002<span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">\u4ece\u7406\u8bba\u4e0a\u8bb2\uff0c\u6700\u8fd1\u51fa\u73b0\u7684\u8fd9\u4e9b\u95ee\u9898\uff0c\u4e0e\u8d27\u5e01\u653f\u7b56\u6846\u67b6\u548c\u653f\u7b56\u5229\u7387\u8bbe\u8ba1\u5e76\u6ca1\u6709\u592a\u5927\u7684\u5173\u7cfb\u3002\u4e5f\u5c31\u662f\u8bf4\uff0c\u5b83\u4e0d\u5355\u7eaf\u662f\u77ed\u671f\u5229\u7387\u5411\u957f\u671f\u5229\u7387\u4f20\u5bfc\u7684\u6280\u672f\u95ee\u9898\u3002\u5728\u76ee\u524d\u7684\u5b8f\u89c2\u5f62\u52bf\u548c\u4f53\u5236\u4e0b\uff0c\u4e0d\u8bba\u662f\u91c7\u7528\u6570\u91cf\u578b\u8fd8\u662f\u4ef7\u683c\u578b\u8d27\u5e01\u653f\u7b56\u6846\u67b6\uff0c\u4e0d\u8bba\u662f\u7528\u54ea\u4e2a\u77ed\u671f\u5229\u7387\u4f5c\u4e3a\u653f\u7b56\u5229\u7387\uff0c\u4e0d\u8bba\u94f6\u884c\u7528\u54ea\u4e2a\u5229\u7387\u4f5c\u4e3a\u5b9a\u4ef7\u57fa\u51c6\uff0c\u90fd\u4f1a\u51fa\u73b0\u6c11\u8425\u4f01\u4e1a\u878d\u8d44\u96be\u5ea6\u52a0\u5927\u7684\u95ee\u9898\u3002\u7b14\u8005\u8ba4\u4e3a\uff0c\u8fd9\u662f\u6211\u56fd\u9762\u4e34\u7ecf\u6d4e\u5468\u671f\u4e0b\u884c\u3001\u53bb\u6760\u6746\u63aa\u65bd\u7684\u6ea2\u51fa\u6548\u5e94\u4ee5\u53ca\u56fd\u6709\u4f01\u4e1a\u4e0e\u6c11\u8425\u4f01\u4e1a\u975e\u4e2d\u6027\u7ade\u4e89\u4f53\u5236\u4e09\u4e2a\u95ee\u9898\u53e0\u52a0\u6240\u5bfc\u81f4\u7684\u540e\u679c\u3002<span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">\u7b2c\u4e00\uff0c\u5173\u4e8e\u7ecf\u6d4e\u5468\u671f\u56e0\u7d20\uff0c\u5927\u91cf\u56fd\u5185\u5916\u6587\u732e\uff0c\u5982\u5f20\u6dfc\u3001\u7b26\u6797\u3001\u848b\u946b\u3001\u7941\u6811\u9e4f\u7b49\u5728\u300a\u7ecf\u6d4e\u5468\u671f\u5bf9\u6211\u56fd\u5546\u4e1a\u94f6\u884c\u4fe1\u8d37\u98ce\u9669\u7ba1\u7406\u7684\u5f71\u54cd\u5206\u6790\u300b\u4e00\u6587\u4e2d\uff0c\u4ee5\u53ca<span>Fama<\/span>\u3001<span>Wilson<\/span>\u3001<span>Nickall<\/span>\u7b49\u90fd\u7528\u7406\u8bba\u548c\u5b9e\u8bc1\u6a21\u578b\u663e\u793a\uff0c\u7ecf\u6d4e\u5468\u671f\u5bf9\u8d37\u6b3e\u548c\u503a\u5238\u7684\u8fdd\u7ea6\u7387\u6709\u91cd\u5927\u5f71\u54cd\uff0c\u4f1a\u5bfc\u81f4\u4fe1\u7528\u7b49\u7ea7\u8fc1\u79fb\u3002\u5728\u7ecf\u6d4e\u4e0b\u884c\u8fc7\u7a0b\u4e2d\uff0c\u5404\u56fd\u90fd\u4f1a\u51fa\u73b0\u4f01\u4e1a\u5012\u95ed\u3001\u8fdd\u7ea6\u6982\u7387\u4e0a\u5347\uff0c\u4f01\u4e1a\uff08\u501f\u6b3e\u4eba\uff09\u4fe1\u7528\u98ce\u9669\u4e0a\u5347\u7684\u60c5\u51b5\u3002\u4e5f\u5c31\u662f\u8bf4\uff0c\u5728\u7ecf\u6d4e\u51cf\u901f\u7684\u9636\u6bb5\uff0c\u5373\u4f7f\u592e\u884c\u964d\u4f4e\u653f\u7b56\u5229\u7387\uff0c\u4e00\u822c\u4e5f\u90fd\u4f1a\u51fa\u73b0\u4f01\u4e1a\u878d\u8d44\u6210\u672c\uff08\u8d37\u6b3e\u5229\u7387\u548c\u503a\u5238\u53d1\u884c\u5229\u7387\uff09\u4e0a\u5347\u7684\u60c5\u51b5\uff0c\u8fd9\u79cd\u7531\u5468\u671f\u6027\u56e0\u7d20\u5f15\u8d77\u7684<span>\u201c<\/span>\u8d27\u5e01\u653f\u7b56\u4f20\u5bfc\u4e0d\u7545<span>\u201d<\/span>\u7684\u95ee\u9898\u662f\u4e16\u754c\u6027\u7684\u95ee\u9898\u3002<span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">\u7b2c\u4e8c\uff0c\u5173\u4e8e\u53bb\u6760\u6746\u63aa\u65bd\u7684\u6ea2\u51fa\u6548\u5e94\uff08\u6216\u8d85\u9884\u671f\u540e\u679c\uff09\uff0c\u4e00\u4e2a\u4f8b\u5b50\u662f\u5728\u6e05\u7406\u89c4\u8303\u5730\u65b9\u653f\u5e9c\u503a\u52a1\u8fc7\u7a0b\u4e2d\uff0c\u8bb8\u591a\u5730\u65b9\u653f\u5e9c\u5e73\u53f0\u7a81\u7136\u65e0\u6cd5\u7ee7\u7eed\u83b7\u5f97\u878d\u8d44\uff0c\u8bb8\u591a<span>PPP<\/span>\u9879\u76ee<span>(<\/span>\u5305\u62ec\u5df2\u7ecf\u542f\u52a8\u7684\u9879\u76ee<span>)<\/span>\u88ab\u53eb\u505c\uff0c\u5bfc\u81f4\u4e0e\u8fd9\u4e9b\u9879\u76ee\u76f8\u5173\u7684\u4f01\u4e1a\uff08\u5982\u53c2\u4e0e<span>PPP<\/span>\u9879\u76ee\u7684\u6c11\u8425\u4f01\u4e1a\uff09\u8d22\u52a1\u60c5\u51b5\u7a81\u7136\u6076\u5316\uff0c\u8fdd\u7ea6\u98ce\u9669\u548c\u878d\u8d44\u6210\u672c\u5927\u5e45\u4e0a\u5347\uff0c\u6709\u7684\u65e0\u6cd5\u7ee7\u7eed\u53d6\u5f97\u878d\u8d44\uff0c\u751a\u81f3\u51fa\u73b0\u8d44\u91d1\u94fe\u65ad\u88c2\u3002\u53e6\u4e00\u4e2a\u4f8b\u5b50\u662f\uff0c\u5728\u843d\u5b9e\u8d44\u7ba1\u65b0\u89c4\u7684\u8fc7\u7a0b\u4e2d\uff0c\u8bb8\u591a\u94f6\u884c\u8868\u5916\u878d\u8d44\u6e20\u9053\u88ab\u5927\u5e45\u6536\u7a84\uff0c\u94f6\u884c\u8868\u5185\u53c8<span>\u201c<\/span>\u63a5\u4e0d\u4f4f<span>\u201d<\/span>\uff0c\u4f7f\u5f97\u8bb8\u591a\u957f\u671f\u4ee5\u6765\u4f9d\u9760\u5f71\u5b50\u94f6\u884c\u3001\u8868\u5916\u878d\u8d44\u7684\u6c11\u8425\u4f01\u4e1a\u7a81\u7136\u5931\u53bb\u4e86\u878d\u8d44\u6e20\u9053\u3002<span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">\u7b2c\u4e09\uff0c\u5173\u4e8e\u7ade\u4e89\u975e\u4e2d\u6027\u95ee\u9898\uff0c\u4e3b\u8981\u6307\u7684\u662f\u5728\u7ecf\u6d4e\u4e0b\u884c\u8fc7\u7a0b\u4e2d\uff0c\u4f53\u5236\u4e0a\u5b58\u5728\u7684\u5bf9\u6c11\u8425\u4f01\u4e1a\u7684\u4e00\u4e9b\u6b67\u89c6\u6027\u505a\u6cd5\u4f1a\u4f7f\u6c11\u8425\u4f01\u4e1a\u878d\u8d44\u7684\u96be\u5ea6\u6bd4\u56fd\u6709\u4f01\u4e1a\u6076\u5316\u5f97\u66f4\u5feb\u3002\u4e8b\u5b9e\u4e0a\uff0c\u5728\u6700\u8fd1\u4e00\u8f6e\u7ecf\u6d4e\u51cf\u901f\u7684\u8fc7\u7a0b\u4e2d\uff0c\u5927\u4e2d\u578b\u56fd\u6709\u4f01\u4e1a\u7684\u878d\u8d44\u96be\u5ea6\u548c\u6210\u672c\u6ca1\u6709\u660e\u663e\u53d8\u5316\uff0c\u4f46\u6c11\u8425\u4f01\u4e1a\u878d\u8d44\u96be\u5ea6\u5374\u5927\u5e45\u589e\u52a0\uff0c\u5bfc\u81f4\u4e86\u4e0d\u5c11\u6c11\u8425\u4f01\u4e1a\u5012\u95ed\u3001\u8fdd\u7ea6\uff0c\u4ee5\u53ca\u88ab\u8feb\u4e0e\u56fd\u6709\u4f01\u4e1a\u5408\u8d44\u6216\u88ab\u56fd\u4f01\u6536\u8d2d\u3002\u95ee\u9898\u7684\u4e3b\u8981\u75c7\u7ed3\u5728\u4e8e\u56fd\u6709\u4f01\u4e1a\u6709\u5730\u65b9\u653f\u5e9c\u3001\u4e2d\u592e\u653f\u5e9c\u7684\u9690\u6027\u62c5\u4fdd\uff08\u56e0\u6b64\u8fdd\u7ea6\u98ce\u9669\u8f83\u4f4e\uff09\uff0c\u800c\u4e14\u5bf9\u8bb8\u591a\u94f6\u884c\u4e1a\u52a1\u5458\u6765\u8bf4\uff0c\u8d37\u6b3e\u7ed9\u56fd\u6709\u4f01\u4e1a\u4e0d\u5fc5\u627f\u62c5\u201c\u88ab\u7ec8\u751f\u8ffd\u8d23\u201d\u7684\u98ce\u9669\u3002<span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">\u4e3a\u4e86\u5e94\u5bf9\u6c11\u8425\u4f01\u4e1a\u878d\u8d44\u96be\u5ea6\u52a0\u5927\u7684\u95ee\u9898\uff0c\u8fc7\u53bb\u4e00\u6bb5\u65f6\u95f4\uff0c\u56fd\u52a1\u9662\u91d1\u878d\u7a33\u5b9a\u53d1\u5c55\u59d4\u5458\u4f1a\u3001\u4e00\u884c\u4e24\u4f1a\u548c\u76f8\u5173\u90e8\u59d4\u51fa\u53f0\u4e86\u8bb8\u591a\u63aa\u65bd\uff0c\u81f4\u529b\u4e8e\u758f\u901a\u8d27\u5e01\u653f\u7b56\u4f20\u5bfc\u673a\u5236\uff0c\u4fc3\u8fdb\u91d1\u878d\u548c\u5b9e\u4f53\u7ecf\u6d4e\u826f\u6027\u5faa\u73af\u3002\u4e00\u662f\u8c03\u6574\u4e86\u7a33\u589e\u957f\u4e0e\u9632\u98ce\u9669\u7684\u5fae\u5999\u5173\u7cfb\uff0c\u4fdd\u969c\u5728\u5efa\u9879\u76ee\u7684\u5408\u7406\u878d\u8d44\u9700\u6c42\uff0c\u5f3a\u5316\u653f\u7b56\u7edf\u7b79\u534f\u8c03\u3001\u907f\u514d\u201c\u51e0\u78b0\u5934\u201d\u95ee\u9898\u3002\u4e8c\u662f\u591a\u90e8\u95e8\u4e00\u8d77\u53d1\u529b\uff0c\u89e3\u51b3\u5c0f\u5fae\u4f01\u4e1a\u3001\u6c11\u8425\u4f01\u4e1a\u3001\u7eff\u8272\u73af\u4fdd\u7b49\u8584\u5f31\u73af\u8282\u7684\u91d1\u878d\u670d\u52a1\u95ee\u9898\u3002\u51fa\u53f0\u7684\u63aa\u65bd\u5305\u62ec\u5b9a\u5411\u964d\u51c6\u3001\u518d\u8d37\u6b3e\u3001\u62c5\u4fdd\u3001\u6269\u5927\u5408\u683c\u62b5\u62bc\u54c1\u8303\u56f4\u3001\u9488\u5bf9\u6c11\u8425\u4f01\u4e1a\u7684\u503a\u52a1\u878d\u8d44\u652f\u6301\u5de5\u5177\uff0c\u4ee5\u53ca\u8981\u6c42\u5546\u4e1a\u94f6\u884c\u6539\u5584\u5bf9\u6c11\u8425\u4f01\u4e1a\u670d\u52a1\u7684\u7a97\u53e3\u6307\u5bfc\u7b49\u3002\u4e0b\u4e00\u6b65\u8fd8\u53ef\u4ee5\u8003\u8651\u964d\u4f4e\u7eff\u8272\u8d44\u4ea7\u98ce\u9669\u6743\u91cd\u7b49\u63aa\u65bd\u3002\u5df2\u7ecf\u51fa\u53f0\u7684\u63aa\u65bd\u90e8\u5206\u5bf9\u51b2\u4e86\u7ecf\u6d4e\u4e0b\u884c\u5bfc\u81f4\u7684\u98ce\u9669\u6ea2\u4ef7\u95ee\u9898\uff0c\u7f13\u89e3\u4e86\u524d\u671f\u5f3a\u76d1\u7ba1\u63aa\u65bd\u51e0\u78b0\u5934\u7684\u95ee\u9898\uff0c\u4e5f\u5728\u4e00\u5b9a\u7a0b\u5ea6\u4e0a\u7f13\u89e3\u4e86\u90e8\u5206\u6c11\u8425\u4f01\u4e1a\u7684\u878d\u8d44\u96be\u95ee\u9898\u3002<span><\/span><\/span> 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style=\"font-size:12.0pt;line-height:150%;\">\u4f46\u662f\uff0c\u8fd9\u4e9b\u63aa\u65bd\u57fa\u672c\u5c5e\u4e8e\u77ed\u671f\u7684\u6551\u6025\u505a\u6cd5\uff0c\u8fd8\u6ca1\u6709\u4ece\u6839\u672c\u4e0a\u89e3\u51b3\u5bfc\u81f4\u56fd\u6709\u4f01\u4e1a\u3001\u6c11\u8425\u4f01\u4e1a\u975e\u4e2d\u6027\u7ade\u4e89\u7684\u5236\u5ea6\u6027\u95ee\u9898\u3002\u8981\u771f\u6b63\u5efa\u7acb\u5404\u7c7b\u6240\u6709\u5236\u4f01\u4e1a\u5e73\u7b49\u7ade\u4e89\u7684\u4f53\u5236\u73af\u5883\uff0c\u6709\u5fc5\u8981\u4ee5\u6cd5\u5f8b\u7684\u5f62\u5f0f\u660e\u786e\u652f\u6301\u6c11\u8425\u4f01\u4e1a\u662f\u957f\u671f\u4e0d\u53d8\u7684\u653f\u7b56\uff0c\u5236\u5b9a\u56fd\u6709\u4f01\u4e1a\u9000\u51fa\u4e00\u822c\u6027\u7ade\u4e89\u9886\u57df\u7684\u65f6\u95f4\u8868\u548c\u8def\u7ebf\u56fe\uff0c\u6e05\u7406\u548c\u4fee\u6539\u4e0d\u7b26\u5408\u5e73\u7b49\u7ade\u4e89\u539f\u5219\u7684\u73b0\u884c\u6cd5\u89c4\uff0c\u5904\u7406\u8fdd\u53cd\u5e73\u7b49\u7ade\u4e89\u539f\u5219\u7684\u4e00\u6279\u6848\u4f8b\uff0c\u5927\u5e45\u63d0\u9ad8\u76f8\u5173\u653f\u7b56\u7684\u900f\u660e\u5ea6\u3002<span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><strong>\u8d27\u5e01\u653f\u7b56\u6846\u67b6\u8f6c\u578b\u7684\u4e2d\u671f\u613f\u666f<\/strong><span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">\u8d27\u5e01\u653f\u7b56\u4f20\u5bfc\u673a\u5236\u662f\u8d27\u5e01\u653f\u7b56\u6846\u67b6\u4e2d\u7684\u4e00\u9879\u5185\u5bb9\u3002\u8981\u5efa\u7acb\u4e00\u4e2a\u73b0\u4ee3\u5316\u7684\u3001\u9002\u5e94\u5e02\u573a\u7ecf\u6d4e\u4e3b\u4f53\u8981\u6c42\u7684\u8d27\u5e01\u653f\u7b56\u6846\u67b6\uff0c\u5e94\u8be5\u4ece\u660e\u786e\u548c\u51cf\u5c11\u8d27\u5e01\u653f\u7b56\u6700\u7ec8\u76ee\u6807\u3001\u660e\u786e\u8d27\u5e01\u653f\u7b56\u4e2d\u4ecb\u76ee\u6807\u3001\u5efa\u7acb\u6709\u6548\u7684\u8d27\u5e01\u653f\u7b56\u4f20\u5bfc\u673a\u5236\u548c\u64cd\u4f5c\u5de5\u5177\u3001\u5efa\u7acb\u4e13\u4e1a\u5316\u7684\u8d27\u5e01\u653f\u7b56\u51b3\u7b56\u673a\u5236\u3001\u63d0\u5347\u8d27\u5e01\u653f\u7b56\u6c9f\u901a\u80fd\u529b\u7b49\u591a\u4e2a\u65b9\u9762\u5165\u624b\u3002\u4e0d\u5c11\u7814\u7a76\u8005\u5728\u8fd9\u51e0\u4e2a\u9886\u57df\u63d0\u51fa\u4e86\u5177\u4f53\u7684\u6539\u9769\u5efa\u8bae\u3002<span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">\u9a6c\u9a8f\u3001\u7ba1\u6d9b\u7b49\u5728\u300a\u5229\u7387\u5e02\u573a\u5316\u4e0e\u8d27\u5e01\u653f\u7b56\u6846\u67b6\u8f6c\u578b\u300b\uff08\u4e2d\u56fd\u91d1\u878d\u51fa\u7248\u793e\uff0c<span>2018<\/span>\u5e74<span>4<\/span>\u6708\uff09\u4e00\u4e66\u4e2d\u63d0\u51fa\uff0c\u6211\u56fd\u76ee\u524d\u7684\u8d27\u5e01\u653f\u7b56\u6700\u7ec8\u76ee\u6807\u8fc7\u591a\uff0c\u5e94\u8be5\u9010\u6b65\u6536\u655b\u5230\u7a33\u5b9a\u901a\u80c0\u3001\u652f\u6301\u5145\u5206\u5c31\u4e1a\u548c\u4fdd\u969c\u91d1\u878d\u7a33\u5b9a\u4e09\u4e2a\u76ee\u6807\uff0c\u5e94\u8be5\u660e\u786e\u653e\u5f03\u4e0e\u6c47\u7387\u3001\u5916\u6c47\u50a8\u5907\u7b49\u53d8\u91cf\u76f8\u5173\u7684\u76ee\u6807\u3002\u5728\u653e\u5f03\u4e86<span>M2<\/span>\u4f5c\u4e3a\u8d27\u5e01\u653f\u7b56\u7684\u4e2d\u4ecb\u76ee\u6807\u4e4b\u540e\uff0c\u5e94\u62e9\u673a\u5ba3\u5e03\u53d6\u6d88\u5b58\u8d37\u6b3e\u57fa\u51c6\u5229\u7387\uff0c\u660e\u786e\u4ee5\u67d0\u4e2a\u77ed\u671f\u5e02\u573a\u5229\u7387\u76ee\u6807\u4f5c\u4e3a\u8d27\u5e01\u653f\u7b56\u7684\u4e2d\u4ecb\u76ee\u6807\uff0c\u5e76\u9010\u6b65\u63d0\u9ad8\u5bf9\u5e02\u573a\u8fdb\u884c\u524d\u77bb\u6027\u6307\u5f15\u7684\u80fd\u529b\u3002\u4f5c\u8005\u5f3a\u8c03\uff0c\u5e94\u8be5\u63d0\u9ad8\u592e\u884c\u8d27\u5e01\u653f\u7b56\u51b3\u7b56\u7684\u72ec\u7acb\u6027\uff0c\u4ee5\u53ca\u8d27\u5e01\u653f\u7b56\u64cd\u4f5c\u7684\u4e13\u4e1a\u6027\u548c\u524d\u77bb\u6027\u3002<span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">\u5f90\u5fe0\u7b49\uff08<span>2018<\/span>\uff09\u6307\u51fa\uff0c\u5728\u5229\u7387\u7ba1\u5236\u57fa\u672c\u653e\u5f00\u540e\uff0c\u6211\u56fd\u5411\u8d27\u5e01\u4ef7\u683c\u8c03\u63a7\u7684\u8f6c\u578b\u8fd8\u9762\u4e34\u4e00\u7cfb\u5217\u4f53\u5236\u548c\u91d1\u878d\u5e02\u573a\u7684\u5236\u7ea6\u3002\u4f5c\u8005\u8ba4\u4e3a\uff0c\u53ea\u6709\u653f\u5e9c\u6de1\u5316\u7ecf\u6d4e\u589e\u957f\u76ee\u6807\uff0c\u771f\u6b63\u5728\u826f\u597d\u516c\u53f8\u6cbb\u7406\u4e0b\u6309\u7167\u98ce\u9669\u8d44\u672c\u7ea6\u675f\u3001\u6839\u636e\u98ce\u9669\u6536\u76ca\u76f8\u5339\u914d\u7684\u539f\u5219\u8fdb\u884c\u878d\u8d44\uff0c\u5fae\u89c2\u4e3b\u4f53\u7684\u878d\u8d44\u9700\u6c42\u624d\u80fd\u591f\u66f4\u4e3a\u7406\u6027\uff0c\u8d27\u5e01\u653f\u7b56\u4e5f\u4e0d\u518d\u53d7\u5230\u5012\u903c\u6269\u5f20\u7684\u538b\u529b\u3002\u53e6\u5916\uff0c\u8981\u6309\u7167\u5e02\u573a\u529f\u80fd\u7edf\u4e00\u7684\u89c4\u5219\uff0c\u9002\u5f53\u653e\u5f00\u4e0d\u5408\u7406\u7684\u91d1\u878d\u4e1a\u52a1\u7ba1\u5236\uff0c\u9f13\u52b1\u4ee5\u4ea4\u6613\u6280\u672f\u548c\u98ce\u9669\u7ba1\u7406\u80fd\u529b\u4e3a\u4e3b\u8981\u76ee\u7684\u7684\u91d1\u878d\u521b\u65b0\uff0c\u771f\u6b63\u63d0\u9ad8\u91d1\u878d\u673a\u6784\u4ea7\u54c1\u5b9a\u4ef7\u80fd\u529b\u548c\u98ce\u9669\u7ba1\u7406\u6c34\u5e73\uff0c\u4ece\u800c\u521b\u9020\u6761\u4ef6\u5b9e\u73b0\u5e02\u573a\u5229\u7387\u548c\u5b58\u8d37\u6b3e\u5229\u7387\u5e76\u8f68\uff0c\u660e\u786e\u77ed\u7aef\uff08\u9694\u591c\uff09\u653f\u7b56\u76ee\u6807\u5229\u7387\uff0c\u5b9e\u73b0\u4ee5\u5229\u7387\u4e3a\u4e3b\u7684\u8d27\u5e01\u4ef7\u683c\u8c03\u63a7\u65b9\u5f0f\u8f6c\u578b\u3002<span><\/span><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><br \/> <\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\"><\/span> <\/p>\n<p style=\"text-indent:24.0pt;\"> <span style=\"font-size:12.0pt;line-height:150%;\">\u56fd\u9645\u8d27\u5e01\u57fa\u91d1\u7684<span>Michael McMahon<\/span>\u3001<span>Alfred Schipke <\/span>\u548c<span>Xiang Li<\/span>\u5728\u9898\u4e3a\u300a\u4e2d\u56fd\u8d27\u5e01\u653f\u7b56\u6c9f\u901a<span>\u2014\u2014<\/span>\u6846\u67b6\u3001\u6548\u679c\u548c\u5efa\u8bae\u300b\u7684\u5de5\u4f5c\u8bba\u6587\uff08<span>IMF Working Paper WP 18\/244<\/span>\uff09\u4e2d\u6307\u51fa\uff0c\u8d8a\u6765\u8d8a\u591a\u7684\u592e\u884c\u5c06\u4e0e\u5e02\u573a\u6c9f\u901a\u4f5c\u4e3a\u8d27\u5e01\u653f\u7b56\u7684\u4e00\u9879\u91cd\u8981\u5de5\u5177\u3002\u4e2d\u56fd\u5728\u5168\u7403\u7ecf\u6d4e\u4e2d\u91cd\u8981\u6027\u7684\u4e0d\u65ad\u63d0\u9ad8\u53ca\u5176\u8d27\u5e01\u653f\u7b56\u5411\u4ee5\u4ef7\u683c\u4e3a\u4e3b\u7684\u6846\u67b6\u8f6c\u578b\u610f\u5473\u7740\u4e2d\u56fd\u4eba\u6c11\u94f6\u884c\u66f4\u52a0\u91cd\u89c6\u4e0e\u5e02\u573a\u6c9f\u901a\u7684\u6709\u6548\u6027\u3002\u8be5\u6587\u7684\u4f5c\u8005\u5efa\u8bae\uff0c\u4e3a\u4e86\u63d0\u9ad8\u8d27\u5e01\u653f\u7b56\u6c9f\u901a\u7684\u6709\u6548\u6027\uff0c\u4eba\u6c11\u94f6\u884c\u5e94\u8be5\u5728\u7f51\u7ad9\u4e0a\u540c\u65f6\u63d0\u4f9b\u5145\u5206\u7684\u4e2d\u82f1\u6587\u4fe1\u606f\uff0c\u5f3a\u5316\u5b8f\u89c2\u7ecf\u6d4e\u9884\u6d4b\u7684\u6295\u5165\u548c\u80fd\u529b\u5efa\u8bbe\uff0c\u5b9a\u671f\u516c\u5e03\u5b8f\u89c2\u7ecf\u6d4e\u9884\u6d4b\u7ed3\u679c\uff0c\u5e76\u5b9a\u671f\u4e3e\u529e\u5a92\u4f53\u53d1\u5e03\u4f1a\u3002\u8fd9\u4e9b\u5efa\u8bae\u4e0e\u7b14\u8005\u7684\u770b\u6cd5\u662f\u4e00\u81f4\u7684\u3002<span><\/span><\/span> <\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u6765\u6e90\uff1a\u4e2d\u56fd\u91d1\u878d\u6742\u5fd7 \u5bfc\u8bfb\uff1a\u76ee\u524d\uff0c\u4e0d\u8bba\u662f\u91c7\u7528\u6570\u91cf\u578b\u8fd8\u662f\u4ef7\u683c\u578b\u8d27\u5e01\u653f\u7b56\u6846\u67b6\uff0c\u4e0d\u8bba\u662f\u7528\u54ea\u4e2a\u77ed\u671f\u5229\u7387\u4f5c\u4e3a\u653f\u7b56\u5229\u7387\uff0c\u90fd\u4f1a...<\/p>\n<p class=\"more-link-wrap\"><a href=\"\/\/m.catawbaoil.com\/251571.html\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;\u9a6c\u9a8f\uff1a\u8d27\u5e01\u653f\u7b56\u4f20\u5bfc\u673a\u5236\u7814\u7a76\u53ca\u610f\u4e49&rdquo;<\/span> 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