电子货币运营模式的影响及监管指标分析

发布时间：2018-04-28 16:27

本文选题：电子货币 + 运营模式　；参考：《国际金融研究》2010年03期

【摘要】：电子货币运营模式的核心问题之一是沉淀资金的管理。随着电子货币流通规模的扩大,发行机构存留的沉淀资金正在急速增长,电子货币沉淀资金的管理机制成为当前监管层和产业界都密切关注的问题。盈利和风险规避的动机使得发行机构会持续创新沉淀资金管理机制,相应的电子货币运营模式也会对经济金融体系造成不同的影响。本文从这个视角出发提出了四种电子货币运营模式:托管账户模式、共同基金模式、授信服务模式和组合服务模式。分析了每种模式的运营结构,以及该模式下电子货币对于经济体系的影响。在影响分析的基础上,提出了适用的监管调控指标,并阐明其作用机理。研究结果为产业界有效利用电子货币沉淀资金以及监管机构制定相关政策提供了参考依据。
[Abstract]:One of the core problems of e-money operation mode is the management of precipitated funds. With the expansion of the scale of electronic money circulation, the depositing funds kept by issuing institutions are increasing rapidly. The management mechanism of electronic money precipitation funds has become a problem that has been paid close attention to by regulators and industry circles at present. The motivation of profit and risk aversion makes the issuer continuously innovate and deposit the fund management mechanism, and the corresponding electronic money operation mode will have different influence on the economic and financial system. From this perspective, this paper puts forward four kinds of electronic money operation modes: escrow account mode, mutual fund mode, credit service model and composite service mode. The operation structure of each model and the influence of electronic money on economic system are analyzed. On the basis of influence analysis, this paper puts forward the applicable regulation and control index, and clarifies its action mechanism. The results provide a reference for industry to make effective use of electronic money to deposit funds and regulators to formulate relevant policies.
【作者单位】：清华大学信息学院自动化系;
【分类号】：F820;F49

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