宏观审慎监管:两大经济思潮交替下的选择

发布时间：2018-01-15 06:36

本文关键词：宏观审慎监管:两大经济思潮交替下的选择　出处：《现代财经(天津财经大学学报)》2011年07期 　论文类型：期刊论文

【摘要】：20世纪西方经济学发展史是自由主义与国家干预主义论战的历史,伴随着经济的起起落落,两大思潮不断交替更迭。而2008年金融危机的爆发彻底葬送了自由主义倡导的崇尚自由市场、政府尽量少监管理念,加强政府干预、建立宏观审慎监管体系成为金融监管发展的主要趋势,以新凯恩斯主义为代表的国家干预主义又一次成为经济学的主导。传统的古典经济学一般是从垄断、外部性和公共产品等角度来解释金融监管的必要性的,而新凯恩斯主义则从金融内在不稳定、信贷周期和金融加速器、信息不对称、协调失灵等方面来解释金融监管,并提出了分散化定理,认为没有政府干预,就不能实现有效率的市场资源配置。新凯恩斯主义的这些理论从宏观层面为宏观审慎监管提供了理论依据。
[Abstract]:In 20th century, the history of western economics was the history of the controversy between liberalism and state interventionism, which was accompanied by the ups and downs of the economy. In 2008, the outbreak of the financial crisis completely destroyed the liberal advocacy of the free market, the concept of government regulation as little as possible to strengthen government intervention. The establishment of macro-prudential supervision system has become the main trend of the development of financial supervision, and the state interventionism represented by neo-Keynesianism has once again become the dominant role of economics. The traditional classical economics is generally from monopoly. Externalities and public goods are used to explain the necessity of financial regulation, while New Keynesianism is based on the inherent instability of finance, credit cycle and financial accelerator, and information asymmetry. Coordination failure and other aspects to explain the financial supervision and put forward the decentralization theorem that there is no government intervention. These new Keynesian theories provide the theoretical basis for macro-prudential supervision from the macro level.
【作者单位】：中央财经大学金融学院;
【分类号】：F832.1
【正文快照】： 一、金融危机后主流经济学的新动向:从新自由主义到新凯恩斯主义20世纪70年代,面对凯恩斯主义对“滞胀”的束手无策,以货币主义、理性预期学派、供给学派等为代表的“新自由主义”①经济学开始兴起,并且随着“撒切尔新政”和“里根革命”的到来成为主流。但20世纪末和本世纪

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