宏观审慎监管框架构建的国际经验与中国实践

发布时间：2018-01-15 22:17

本文关键词：宏观审慎监管框架构建的国际经验与中国实践　出处：《中共中央党校》2013年硕士论文　论文类型：学位论文

【摘要】：2007年由美国次贷危机所引发的国际金融危机给世界经济带来了沉重的打击，造成了极大的经济损失，世界经济至今仍未完全恢复元气。然而，辩证地来看，每一次的危机也是一次对金融体系的健康检查，可以诊断出金融体系中存在的缺陷，从而也赋予了金融体系一次升级进化的机会。本次危机给我们带来的一个重要教训是，仅仅关注个体金融机构的稳健性是不够的，应该关注威胁金融体系整体稳健性的系统性金融风险。于是在危机后，宏观审慎监管成为了弥补现有金融监管体系缺陷的一份良药，各国也纷纷启动了以宏观审慎监管为核心的金融监管改革。对于我国来说，宏观审慎的监管理念对提高我国的金融监管水平，维护我国的金融稳定也有着十分积极的意义。本文首先通过对宏观审慎监管的相关理论分析，明晰了宏观审慎监管的概念以及在金融稳定框架中的定位，并从时间维度和空间维度对系统性风险的形成机制进行了分析和梳理，促进了对顺周期性效应、“大而不倒”、共同风险敞口等问题的理解，，为宏观审慎监管的实践提供了理论基础。然后，通过对宏观审慎监管框架改革的国际经验的比较和分析，对宏观审慎监管的实践有了更具体的理解，并收获了一些有益的经验。最后，理论联系实际，将宏观审慎的理论运用到中国实际的分析中，从宏观审慎监管的视角看待和解释我国金融体系中存在的一些问题，并在结合中国金融监管实际的基础上，进一步探讨了中国宏观审慎监管框架的构建。对中国宏观审慎监管框架构建的政策建议主要有四点：第一，组建一个多方参与的系统性风险监管机构，负责系统性风险的识别和监测，以及加强各监管机构之间的沟通与协调，同时应提高中国人民银行在宏观审慎监管中的地位和作用；第二，从时间维度和空间维度完善我国宏观审慎政策工具箱的设计和开发，并完善宏观审慎政策工具的使用规则；第三，完善我国的金融基础设施和相关金融制度建设，具体包括建立统一全面的金融信息统计平台、稳健高效的金融基础设施以及建立明晰可靠的存款保险制度；第四，加强宏观审慎监管的国际合作，提高我国对跨境系统性风险的抵御能力。
[Abstract]:In 2007 the U.S. subprime mortgage crisis triggered by the global financial crisis has brought a heavy blow to the world economy, which caused great economic losses, the world economy has not yet fully recovered. However, dialectical point of view, every crisis is one of the financial system of health examination can diagnose the defects of financial system in which, given a financial system upgrade opportunities to evolve.
An important lesson of the crisis brought to us is only concerned about the individual soundness of financial institutions is not enough, should focus on the overall stability of systemic financial risks that threaten the financial system. So after the crisis, macro prudential supervision has become a good medicine to make up for the defect of the existing financial regulatory system, countries have also started to macro prudential supervision is the core of the reform of financial supervision. For our country, the macro prudential supervision idea to improve the level of financial supervision in China, has a very positive meaning to maintain financial stability in China.
Firstly, through the analysis of relevant theory of macro prudential regulation, clarifies the concept of macro prudential supervision and positioning in the framework of financial stability, and the formation mechanism of the systemic risk from time and space dimensions were analyzed and sorted, promoted the pro cyclical effect, "too big to fail", common exposure to the understanding of the problem, provide a theoretical basis for the practice of macro prudential regulation. Then, through the comparison and analysis of the international experience of the reform of the macro prudential regulatory framework, the practice of macro prudential supervision has a more specific understanding, and gain some useful experience. Finally, theory and practice, will the use of macro Prudential theory to analysis Chinese practice, from the perspective of macro prudential supervision view and explain some problems existing in our country's financial system, and in combination with the actual Chinese financial supervision On the basis of this, we further discuss the construction of China's macro prudential regulatory framework.
On the construction of Chinese macro prudential regulatory framework policy has four main points: first, the formation of a multi stakeholder involvement in systemic risk regulator, is responsible for the identification and monitoring of systemic risk, and strengthen communication and coordination between the various regulatory agencies at the same time, should improve the status and role of the people's Bank of China in macro prudential supervision. Second, perfect; the design and development of China's macro Prudential policy toolbox from the dimension of time and space, the use of rules and improve the macro Prudential policy tools; third, improve the construction of financial system of financial and related infrastructure in our country, including the establishment of a unified financial statistics platform for comprehensive, efficient and robust financial infrastructure establish a clear and reliable deposit insurance system; fourth, strengthen international cooperation in macro prudential supervision, improve our country to resist cross-border systemic risk Ability.

【学位授予单位】：中共中央党校
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.5

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