后危机时代我国宏观审慎监管框架研究
发布时间：2018-08-16 15:42
【摘要】：2008年,美国次贷危机引发了全球金融危机,金融危机造成的巨大损失严重影响了全球经济发展,使得监管机构开始反思现行监管体系的缺陷。20世纪80年代以来,监管机构都是以微观审慎监管为主,并且微观审慎监管的力度也在逐年增加,但是小规模金融危机爆发的间隔时间越来越短,同时危机的强度也在不断加大。其主要原因在于：随着金融业的快速发展,金融市场的脆弱性不断增强,在横向上,广泛的混业经营使金融机构融为一体无限增加了金融体系的同质性和顺周期性；在纵向上,金融创新日新月异,越来越多的表外业务和高杠杆率,使高回报率与高风险的资产泡沫并存。金融监管机构认识到微观审慎监管关注的是单一的金融机构,却忽视了整个金融体系的风险,而宏观审慎监管则是以系统性风险为监管核心,能够有效得地防范和抵御系统性风险,维护金融体系的稳定。 论文首先从宏观审慎监管的起源出发,介绍宏观审慎监管的基本理论,详细地比较了宏观审慎监管与微观审社监管的区别。其次,从我国现有的金融监管框架”一行三会”出发,分别从四个角度探讨我国金融监管的现状以及金融危机之后所做出的改革措施。再次比较和分析美国、英国以及欧盟组织在经济金融危机后对于金融监管的改革,从它们的改革措施中吸取经验,为研究我国宏观审慎监管框架的内容提供了补充。最后,提出健全我国宏观审慎监管框架的建议,包括成立金融风险稳定委员会,宏观审慎金融监管工具的选择,加强系统性风险监测和评估和加强宏观审慎监管与货币政策的协调配合等。
[Abstract]:In 2008, the subprime mortgage crisis in the United States triggered the global financial crisis. The huge losses caused by the financial crisis seriously affected the development of the global economy, making regulators begin to reflect on the defects of the current regulatory system since the 1980s. Regulators are mainly micro-prudential supervision, and micro-prudential supervision is also increasing year by year, but the interval between the outbreak of small-scale financial crisis is becoming shorter and shorter, and the intensity of the crisis is also increasing. The main reasons are: with the rapid development of the financial industry, the fragility of the financial market is increasing. Horizontally, the integration of financial institutions increases the homogeneity and procyclicality of the financial system. Financial innovation changes with each passing day, more and more off-balance sheet business and high leverage ratio, make high return and high risk asset bubble coexist. Financial regulators recognize that microprudential supervision focuses on a single financial institution but ignores the risks of the financial system as a whole, while macroprudential supervision is centred on systemic risk, Can effectively guard against and resist systemic risks, and maintain the stability of the financial system. Starting from the origin of macro-prudential supervision, this paper introduces the basic theory of macro-prudential supervision, and compares the difference between macro-prudential supervision and micro-prudential supervision in detail. Secondly, starting from the existing framework of financial supervision in China, this paper discusses the current situation of financial supervision and the reform measures made after the financial crisis from four angles. By comparing and analyzing the reform of financial supervision in the United States, Britain and the European Union after the economic and financial crisis, the author draws lessons from their reform measures and provides a supplement to the study of the framework of macro-prudential supervision in China. Finally, the paper puts forward some suggestions to improve the framework of macro-prudential supervision in China, including the establishment of the Financial risk Stability Committee and the choice of instruments for macro-prudential financial supervision. Strengthen systematic risk monitoring and evaluation, and strengthen the coordination of macro-prudential regulation and monetary policy.
【学位授予单位】：天津财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.1
[Abstract]:In 2008, the subprime mortgage crisis in the United States triggered the global financial crisis. The huge losses caused by the financial crisis seriously affected the development of the global economy, making regulators begin to reflect on the defects of the current regulatory system since the 1980s. Regulators are mainly micro-prudential supervision, and micro-prudential supervision is also increasing year by year, but the interval between the outbreak of small-scale financial crisis is becoming shorter and shorter, and the intensity of the crisis is also increasing. The main reasons are: with the rapid development of the financial industry, the fragility of the financial market is increasing. Horizontally, the integration of financial institutions increases the homogeneity and procyclicality of the financial system. Financial innovation changes with each passing day, more and more off-balance sheet business and high leverage ratio, make high return and high risk asset bubble coexist. Financial regulators recognize that microprudential supervision focuses on a single financial institution but ignores the risks of the financial system as a whole, while macroprudential supervision is centred on systemic risk, Can effectively guard against and resist systemic risks, and maintain the stability of the financial system. Starting from the origin of macro-prudential supervision, this paper introduces the basic theory of macro-prudential supervision, and compares the difference between macro-prudential supervision and micro-prudential supervision in detail. Secondly, starting from the existing framework of financial supervision in China, this paper discusses the current situation of financial supervision and the reform measures made after the financial crisis from four angles. By comparing and analyzing the reform of financial supervision in the United States, Britain and the European Union after the economic and financial crisis, the author draws lessons from their reform measures and provides a supplement to the study of the framework of macro-prudential supervision in China. Finally, the paper puts forward some suggestions to improve the framework of macro-prudential supervision in China, including the establishment of the Financial risk Stability Committee and the choice of instruments for macro-prudential financial supervision. Strengthen systematic risk monitoring and evaluation, and strengthen the coordination of macro-prudential regulation and monetary policy.
【学位授予单位】：天津财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.1
【参考文献】
相关期刊论文 前10条
1 李宗怡,冀勇鹏;对我国实施银行业宏观审慎监管问题的探讨[J];当代财经;2003年07期
2 巴曙松;王t熲，
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