金融监管模式的国际比较:五国案例分析

发布时间：2018-11-13 11:02

【摘要】：当前国际上经典的金融监管模式包括机构监管、功能监管、综合监管和双峰监管四种,美国的金融监管模式属于经典监管模式的混合物。就目前金融市场混业发展的状况来看,机构监管模式和功能监管模式都存在着难以准确界定监管边界的问题,分散的监管机构更是无法全面掌握日益一体化的金融市场的信息。相比较而言综合监管和双峰监管在信息掌握,确定监管边界上有所改进;但综合监管面临着监管机构过于庞大,内部协调难的问题,而且一旦监管不到位,缺乏其他机构补救;双峰监管模式虽然积聚了较多优点,但其依赖于良好的外部披露体系和监管人员素质。因此,在实践中,很难确定一种放之四海皆准的监管模式,但有一点是可以肯定的,那就是一国采用何种监管模式应该充分考虑到金融监管模式与该国的金融市场发展状况的一致性,这种一致性体现在随着金融市场混业程度的加深,金融监管模式也遵循机构监管→功能监管→综合监管→双峰监管的调整路径。
[Abstract]:At present, there are four kinds of classical financial supervision models in the world, including institutional supervision, functional supervision, integrated supervision and bimodal supervision. The American financial supervision model belongs to the mixture of classical regulatory models. In view of the current situation of the mixed development of financial market, both the institutional supervision model and the functional supervision model are difficult to define the regulatory boundary accurately, and the decentralized regulatory bodies are unable to grasp the information of the increasingly integrated financial market. By comparison, comprehensive supervision and double peak supervision have improved in information grasp and supervision boundary, but comprehensive supervision is faced with the problems of too large regulatory agencies and difficult internal coordination, and once the supervision is not in place, it lacks other institutions to remedy it. Although bimodal regulatory model has accumulated many advantages, it relies on good external disclosure system and the quality of regulatory staff. Thus, in practice, it is difficult to identify a one-size-fits-all regulatory model, but one thing is certain. That is, what kind of regulatory model should be adopted by a country to take full account of the consistency between the financial regulatory model and the development of the country's financial markets, which is reflected in the deepening of the degree of mixed operation of the financial markets, The mode of financial supervision also follows the adjustment path of institutional supervision, functional supervision, comprehensive supervision, and bimodal supervision.
【作者单位】：厦门大学;
【分类号】：F831.1

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