内在机理与制度条件：美国利率管制回顾与启示

发布时间：2018-04-02 10:39

本文选题：利率管制　切入点：利率市场化　出处：《中国社会科学院研究生院》2014年博士论文

【摘要】：美国的利率管制（也称Q条例管制），是一项以提高利润来保护银行的金融监管政策。从1933年开始，到2011年结束，它的内容包括禁止活期存款付息、设置商业银行定期存款与储蓄存款利率上限、储蓄机构定期存款与储蓄存款利率上限。本文的目的是以相关理论为依据，通过对美国历时七十八年的利率上限管制进行深入地分析，解释美国利率管制及其取消的内在机理，从而，在对比中美利率管制目的、机理、制度条件的前提下，结合中国利率管制的特殊性，对如何推进中国的利率市场化给出有条理的回答。本文分为六个部分。首先是对利率管制历史和利率理论的总结。历史方面，主要在第一章介绍政府立法形式的法定上限利率管制，和宗教教义形式的禁付利息管制，并从中揭示出，市场机制是影响和决定利率管制对象、目的和效力的决定因素。在理论方面，主要在第一章和第二章综述了利率和利率管制的相关理论。本文把利率理论归结为利率的决定理论和利率的传导理论。指出前者说明的是利率的信号功能，，后者说明的是利率的杠杆功能。利率管制将使利率失去信号功能，对利率杠杆功能的影响则取决于管制实施时的市场机制条件。第三章和第四章是本文的主要部分。第三章运用存贷款模型阐明了美国利率管制的机理和效果，进一步指明了市场机制在利率管制有效性上的决定性作用。第四章阐明了美国的利率政策机制，对美国利率体系的结构和传导机理做了说明，区别了美国的利率政策和利率管制，指出前者属于货币政策，后者属于金融监管政策。第五章梳理了中国利率管制的历史，揭示了它的特殊性。最后，第六章对美国利率管制进行了更为深入地剖析，并阐明了它对中国利率市场化改革的启示。
[Abstract]:Interest rate regulation in the United States, also known as Q regulation, is a financial regulatory policy that protects banks by increasing profits. It began in 1933 and ended in 2011, and includes a ban on payment of interest on demand deposits. The upper limit of the interest rate of time deposits and savings deposits in commercial banks and the interest rates of time deposits and savings deposits in savings institutions. The purpose of this paper is to explain the internal mechanism of the interest rate regulation and its abolition in the United States through the in-depth analysis of the interest rate cap regulation in the United States for 78 years, based on the relevant theories, and to compare the purpose of interest rate control between China and the United States. Under the premise of institutional conditions and the particularity of China's interest rate regulation, this paper gives an orderly answer to how to promote China's interest rate marketization. This paper is divided into six parts. Firstly, it summarizes the history of interest rate regulation and the theory of interest rate. In the first chapter, it mainly introduces the legal upper limit interest rate regulation in the form of government legislation, and the prohibition of interest payment in the form of religious doctrine. It also reveals that the market mechanism is the decisive factor to influence and determine the object, purpose and effectiveness of interest rate regulation. In the first and second chapters, we summarize the relevant theories of interest rate and interest rate regulation. In this paper, the theory of interest rate is reduced to the theory of determining interest rate and the theory of interest rate conduction. It is pointed out that the former explains the signalling function of interest rate. The latter explains the leverage function of interest rate, and interest rate control will make interest rate lose its signalling function, and the influence on interest rate lever function depends on the market mechanism condition when the regulation is carried out. Chapter three and chapter four are the main parts of this paper. Chapter three illustrates the mechanism and effect of interest rate regulation in the United States by using deposit and loan models. The fourth chapter clarifies the interest rate policy mechanism of the United States, and explains the structure and conduction mechanism of the interest rate system in the United States. This paper distinguishes the interest rate policy of the United States from the interest rate regulation in the United States, and points out that the former belongs to monetary policy and the latter belongs to the financial supervision policy. Chapter five combs the history of interest rate control in China and reveals its particularity. Chapter six makes a deeper analysis of American interest rate regulation and expounds its enlightenment to the reform of Chinese interest rate marketization.
【学位授予单位】：中国社会科学院研究生院
【学位级别】：博士
【学位授予年份】：2014
【分类号】：F827.12;F822.0

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