完善我国跨境本外币资金流动监管研究

发布时间：2018-05-29 12:35

本文选题：跨境资金 + 本外币　；参考：《上海交通大学》2013年硕士论文

【摘要】：随着当前我国经济前景向好、经济体制改革不断深入、融入全球经济金融一体化的程度日益加深，我国跨境资金流动规模也随之不断扩大。跨境资金流动给我国经济发展带来了机遇和挑战，增加了对我国宏观调控的压力以及增加了经济金融稳定运行的风险。在此背景下，本文分析了现行跨境本外币资金流动监管现状，剖析了目前监管中存在的问题，通过将运用货币危机防范理论与从事外汇管理工作的实践经验创新结合，提出了解决完善跨境资金流动监管的对策。本文共分五个篇章。第一章是绪论部分，主要介绍了本文的研究背景和意义。指出当前全球跨境资金流动的趋势以及我国目前面临跨境资金流动带来的压力导致现行跨境资金监管体系已难以适应经济发展的要求。通过归纳多个学者对跨境资金流动的研究理论，总结得出通过设置跨境资金交易税，，来增加跨境资金交易成本，提高跨境资金流动门槛，来实现防范跨境资金流动风险监管的目标。本文的创新之处是提出了本外币整体监管的思路，即开放和管理并重、成本和效率并重、流入流出均衡管理以及相关政策协调配合。第二章是跨境资金流动监管理论基础。首先是阐述了跨境资金流动与热钱概念，分析了二者之间的关系，得出热钱是以追求价差收益为目的，迅速移向能提供更好回报的任何国家的流动性较高的跨境资金流动的结论。然后分析跨境资金流动的积极与消极两方面的效应，笔者认为要正确看待跨境资金流动对我国经济的影响。最后是通过阐述货币危机理论的历史沿革，分析得出如果国际融资存在着外部不经济，那么就会导致境内外利差和汇差，造成负面的冲击影响，从而导致经济衰退甚至是货币危机。从而得出本文的理论依据为第三代货币危机防范理论结合我国的实际出发，实现完善金融监管的主体设置，确定明确的监管原则，加强完善金融监管体系的建设。第三章是我国跨境本外币资金流动监管现状及问题分析。首先是陈述我国跨境资金流动监管历史沿革以及监管现状，得出我国目前跨境资金流动存在的潜在风险是会增加基础货币的投放、会促使物价的飞速上涨以及会削弱货币政策的独立性。然后是列举当前我国跨境资金流动监管存在的问题，如跨境资金流动监管政策存在漏洞、跨境资金流动协调监管机制缺失、商业银行代位监管跨境资金流动难以落实、本外币跨境资金流动统计监测体系尚不健全等。最后笔者对上述问题进行了原因剖析，认为主要是由于法规及制度保障不完善、存在套利机制及人员素质有待提高导致上述问题的产生。第四章是通过借鉴英国和巴西的跨境资金流动监管经验得出对我国跨境资金流动监管的启示。其中英国的跨境资金流动经验对我国的启示是要完善相关部门协调机制、加强对银行的监管、及时共享监管数据以及进一步完善市场机制。巴西的跨境资金流动监管经验给我国的启示是可以借鉴托宾税的管理政策来加强对跨境资金流动的监管。第五章是针对目前我国跨境本外币资金流动监管存在的问题，一是提出了完善跨境资金流动监管制度建设的建议，主要是完善现行外汇管理政策、推行托宾税调节资本流动成本、强化外汇指定银行“代位监管”、加强外汇管理队伍建设及提高人员素质。二是提出了完善跨境资金流动监管协调机制的建议，主要是形成本外币监测与监管联动机制、形成对外资流出入的联合监管机制以及建立跨系统的异常投资外汇资金协作检查机制。三是提出了完善跨境资金流动监测体系的建议，主要是完善本外币跨境资金流动监测系统、建立跨境资金流动预警体系。本文的创新之处是从货币风险防范理论研究角度出发，来分析判断我国跨境本外币资金流动监管存在的风险，在分析客观存在的问题上，系统地提出了解决我国跨境本外币资金流动风险的监管措施。
[Abstract]:With the economic prospect of our country to be better, the reform of economic system is deepening, the degree of integration into the global economic and financial integration is deepening, and the scale of cross-border capital flow is expanding. The cross-border capital flow has brought opportunities and challenges to the economic development of our country, increased the pressure on macro regulation and control of our country and increased the economy. In this context, this paper analyzes the current situation of the current cross-border money flow regulation and analyzes the existing problems in the current supervision. By combining the use of the theory of currency crisis prevention and practice experience innovation in foreign exchange management, this paper puts forward some countermeasures to improve the supervision of cross-border capital flow.
This article is divided into five chapters. The first chapter is the introduction part, which mainly introduces the background and significance of this study. It points out that the current trend of global cross-border capital flow and the pressure of our country's current cross-border capital flows lead to the difficulty of adapting the current cross-border capital supervision system to the requirements of economic development. The research theory of cross-border capital flows has concluded that through setting up cross-border capital transaction tax to increase cross-border capital transaction costs and improve cross-border capital flow threshold, we can achieve the goal of preventing cross-border capital flow risk supervision. The innovation of this paper is to put forward the idea of the regulation of the whole foreign currency, that is, the importance of openness and management, the cost and the cost. Efficiency is equal, inflow and outflow equilibrium management and coordination of relevant policies.
The second chapter is the theoretical basis of cross-border capital flow regulation. First, it expounds the concept of cross-border capital flow and hot money, analyzes the relationship between the two, and draws the conclusion that hot money is a conclusion that is aimed at pursuing the price difference income, and quickly moves towards the flow of high liquidity in any country which can provide better returns. In the two aspects of the positive and negative effects of the flow, the author thinks that we should take a correct view of the impact of cross-border capital flows on China's economy. Finally, through the historical evolution of the theory of monetary crisis, it is concluded that if the international financing exists external diseconomies, it will lead to the difference between domestic and foreign interest and foreign exchange, resulting in negative impact. It leads to the economic recession and even the monetary crisis, thus the theoretical basis of this paper is based on the third generation of the monetary crisis prevention theory and the reality of our country, to realize the subject setting of perfect financial supervision, to determine the clear supervision principle and to strengthen the construction of the financial supervision system.
The third chapter is an analysis of the current situation and problems of the supervision and regulation of cross-border money flow in our country. The first is to state the historical evolution of China's cross-border capital flow regulation and the status of its supervision, and the potential risk of the current cross-border capital flow in China is that it will increase the investment of the basic currency, promote the rapid rise of the price and weaken the monetary policy. Secondly, it enumerates the problems existing in the current supervision of cross-border capital flow in China, such as the loopholes in the supervision policy of cross-border capital flow, the lack of coordination regulatory mechanism of cross-border capital flow, the difficult implementation of the cross-border capital flow of commercial banks, and the imperfect monitoring system of cross-border capital flow. Finally, the author The reasons for the above problems are analyzed, and the main reason is that the regulations and system guarantee are not perfect, and the existence of arbitrage mechanism and the quality of personnel needs to be improved.
The fourth chapter draws lessons from the experience of cross-border capital flow supervision in Britain and Brazil. The Enlightenment of the experience of cross-border capital flow in Britain is to improve the coordination mechanism of relevant departments, strengthen the supervision of the banks, share the regulatory data in time and further improve the market mechanism. The experience of Brazil's supervision over cross-border capital flows has inspired China to learn from Tobin tax administration policy to strengthen cross-border capital flow regulation.
The fifth chapter is to solve the existing problems in the supervision of the current cross-border money flow supervision in China. One is to improve the construction of the regulatory system of cross-border capital flow, mainly to improve the current foreign exchange management policy, to implement the Tobin tax to regulate the cost of capital flow, to strengthen the "subrogation supervision" of the foreign exchange designated bank, and to strengthen the construction of the foreign exchange management team. And improve the quality of personnel. Two is to improve the coordination mechanism of cross-border capital flow supervision and coordination mechanism, mainly to form the linkage mechanism of foreign currency monitoring and supervision, the formation of joint supervision mechanism of foreign capital flow and entry, and the establishment of cross system foreign exchange funds for abnormal investment cooperation inspection machine system. Three is to improve the monitoring of cross-border capital flow monitoring. The proposal of the system is mainly to improve the monitoring system for cross-border capital flows of foreign currencies, and to set up an early warning system for cross-border capital flows.
The innovation of this paper is from the point of view of the theory of monetary risk prevention, to analyze and judge the risks of the supervision of the flow of capital flows across the border of our country. On the analysis of the objective problems, the supervision and measures to solve the risk of the flow of capital and foreign currency in our country are systematically put forward.
【学位授予单位】：上海交通大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.5

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