江浙沪地区影子银行规范发展研究

发布时间：2018-05-19 15:37

本文选题：影子银行 + 温州金融改革　；参考：《中共江苏省委党校》2013年硕士论文

【摘要】：近年来，全球影子银行体系规模迅速膨胀，引起了全球金融监管的高度关注。在美国，影子银行主要指游离于传统商业银行体系以外，不受或少受监管层监管的类银行体系信用中介活动，主要包括投资银行、对冲基金、私募股权基金、金融衍生品等实体机构及产品。影子银行的膨胀给全球金融监管带来了新的挑战，美国于2010年颁布了《多德—弗兰克法》，旨在加强对影子银行的监管。我国由于金融发展程度和利率管制等原因，影子银行机构和业务与美国相比形式较为简单，，并且大部分都处于监管层的监管之下，但其迅速膨胀的规模也引起了各界的关注。IMF2012年发布的《全球稳定报告》提出，中国监管层应当警惕影子银行体系把风险转嫁给银行。日前，国际三大评级机构之一惠誉将中国长期本币信用由“AA-”下调至“A+”，其原因之一就是认为这几年中国影子银行融资发展过快。本文通过对经济及金融发达的江浙沪地区影子银行的研究，并借鉴全球金融监管改革和影子银行治理的经验，提出现阶段对影子银行系统不应单单堵截，而应当在加强监管中规范发展。本文认为，江浙沪地区可以以温州金改试验区的实践为范本，打破金融垄断，科学引导民间金融的发展，具体的政策建议包括鼓励影子银行体系发展与推进我国利率市场化进程并举、推进我国金融深化、鼓励金融体系的适度创新、构建宏观审慎框架，加强信息披露、防范金融系统性风险等。
[Abstract]:In recent years, the scale of the global shadow banking system has expanded rapidly, which has attracted the attention of the global financial regulation. In the United States, shadow banking mainly refers to credit intermediation activities in the banking system that are outside the traditional commercial banking system and are not or less regulated by regulators. They mainly include investment banks, hedge funds, and private equity funds. Financial derivatives and other entities and products. The expansion of shadow banking poses a new challenge to global financial regulation, and the United States enacted the Dodd-Frank Act in 2010 to strengthen the regulation of shadow banks. Because of the degree of financial development and interest rate control, shadow banking institutions and businesses in China are relatively simple compared with the United States, and most of them are under the supervision of the regulatory level. But its rapidly expanding size has also drawn attention. The IMF 2012 Global Stability report suggests that China's regulators should be wary of the shadow banking system passing on risk to banks. One of the reasons Fitch, one of the world's top three rating agencies, downgraded China's long-term local currency credit to "A" from "AA-" in the past few years is that it believes that shadow banking in China has grown too fast in recent years. Based on the study of shadow banking in Jiangsu, Zhejiang and Shanghai regions with developed economy and finance, and the experience of global financial supervision reform and shadow banking governance, this paper points out that the shadow banking system should not be blocked at this stage. It should be standardized in strengthening supervision and control. This paper holds that Jiangsu, Zhejiang and Shanghai can break the financial monopoly and scientifically guide the development of private finance by taking the practice of Wenzhou gold reform experimental area as a model. The specific policy recommendations include encouraging the shadow banking system to develop as well as promoting the marketization of interest rates in China, promoting financial deepening, encouraging moderate innovation in the financial system, building a macro-prudential framework, and strengthening information disclosure. To guard against systemic financial risks and so on.
【学位授予单位】：中共江苏省委党校
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.7

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