宏观审慎政策框架下的金融监管研究

发布时间：2019-06-06 15:35

【摘要】：2008年，美国次贷危机引发了全面的金融危机，不仅给美国经济以重创，也给全球经济造成了极大的负面冲击，时至今日，美国金融危机的影响依然存在，使得全球经济仍然面临着诸多不确定性。金融危机爆发和蔓延过程中，引发了人们不断的思考，其中对于以往金融监管有效性的思考是其中的一个重要方面，并形成了一定的成果，经济学术界普遍认为以往的金融监管是一种微观审慎性的监管，侧重于维护微观金融个体的稳健运行，因而对金融体系的系统性风险关注不足，也没有有效的工具措施加以防控。基于此，通过不断深入的探讨和交流，国际社会逐渐形成了一种共识，那就是各国应构建宏观审慎政策框架下的金融监管体系，进而实施宏观审慎性金融监管，以有效弥补微观审慎性监管的不足之处，从而更好的维护金融体系的稳健运行。此后，宏观审慎性政策框架下各类问题得到了经济学术界广泛的研究兴趣，宏观审慎性政策框架下的金融监管研究也日益增多起来。然而，目前在我国由于我国金融市场发展水平以及金融监管体系现状等诸多因素的存在，，宏观审慎性政策框架下的金融监管未受太多关注，因而对其的研究不多，这不利于我国在未来快速发展的金融形势下实施有效的防控措施以规避金融风险。本文深入研究了宏观审慎政策框架形成的现实基础和成因，指出宏观审慎政策框架正是为了更好的应对金融危机所暴露的问题，以降低此类危机发生的可能性。在此基础上，探究了宏观审慎政策框架下金融监管的工具选择，为我国实施宏观审慎金融监管提供了工具政策指导。另外，本文详细分析了美国和欧盟的金融监管改革，从欧美国家艰难的经济复苏可以看出，这些改革措施还是有很大的积极作用的，因而值得我国借鉴，并指出宏观审慎政策框架下的金融监管已成为各国金融改革的方向。在此基础上，本文对我国的金融监管体系模式现状进行了分析，并藉此提出构建中国宏观审慎政策框架下的金融改革措施，使我国的金融监管能够应对未来的金融发展带来的挑战。
[Abstract]:In 2008, the subprime mortgage crisis in the United States triggered a comprehensive financial crisis, which not only hit the American economy hard, but also caused a great negative impact on the global economy. Up to now, the impact of the financial crisis in the United States still exists. As a result, the global economy is still facing a lot of uncertainty. In the process of the outbreak and spread of the financial crisis, people have been thinking constantly, among which the thinking on the effectiveness of financial supervision in the past is one of the important aspects, and has formed certain achievements. The economic academic circles generally believe that the financial supervision in the past is a kind of micro-prudential supervision, which focuses on maintaining the sound operation of micro-financial individuals, so it pays insufficient attention to the systematic risks of the financial system. There are also no effective tools to prevent and control. Based on this, through continuous in-depth discussion and exchange, the international community has gradually formed a consensus, that is, countries should build a financial regulatory system under the framework of macro-prudential policies, and then implement macro-prudential financial supervision. In order to effectively make up for the shortcomings of micro-prudential supervision, so as to better maintain the sound operation of the financial system. Since then, various issues under the framework of macro-prudential policy have been widely studied by the economic academic community, and the research on financial supervision under the framework of macro-prudential policy has also increased day by day. However, at present, due to the existence of many factors, such as the development level of China's financial market and the present situation of financial supervision system, the financial supervision under the framework of macro-prudential policy has not received much attention, so there is not much research on it. This is not conducive to our country in the future rapid development of the financial situation to implement effective prevention and control measures to avoid financial risks. This paper deeply studies the realistic basis and causes of the formation of the macroprudential policy framework, and points out that the macroprudential policy framework is to better deal with the problems exposed by the financial crisis, in order to reduce the possibility of such a crisis. On this basis, this paper probes into the tool choice of financial supervision under the framework of macro-prudential policy, and provides tool policy guidance for the implementation of macro-prudential financial supervision in China. In addition, this paper analyzes in detail the financial regulatory reforms in the United States and the European Union. From the difficult economic recovery in Europe and the United States, we can see that these reform measures still play a very positive role, so they are worthy of our reference. It is pointed out that financial supervision under the framework of macro-prudential policy has become the direction of financial reform in various countries. On this basis, this paper analyzes the present situation of China's financial supervision system model, and puts forward the financial reform measures under the framework of China's macro-prudential policy. So that the financial supervision of our country can meet the challenges brought by the future financial development.
【学位授予单位】：辽宁大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.1

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