中国金融改革:经验、困境与未来

发布时间：2018-01-22 02:07

本文关键词： 金融改革经济改革金融开放　出处：《国际经济评论》2017年05期 　论文类型：期刊论文

【摘要】：本文以中国改革开放的经济背景为轴,回顾总结了中国金融改革的历史进程。2008年国际金融危机后,中国经济改革在稳增长的内在诉求下推进缓慢,而金融改革却因利率市场化闸门的开启而大踏步地向前,但也逐渐埋下了当前种种金融乱象的根源。而当前的种种金融乱象,无疑是目前制约金融改革走向深入的一层枷锁。因此,推进"金融去杠杆"、整治金融乱象,从而为金融改革的进一步深入创造条件,更需着眼经济改革,着力于中国经济增长方式的转变,着力于打破国企的预算软约束,着力于民间投资活力的激发培育。结合中国改革开放以来四次应对和处理"外部失衡"的经验,以及1990年代亚洲金融危机所留下的深刻教训,我们认为,"经济改革-金融改革-金融开放"由急到缓地协同推进,是身处经济转型的关键节点、金融市场化尚未全然理顺的改革阶段的中国,更加理性与稳妥的选择。
[Abstract]:Based on the economic background of China's reform and opening up, this paper reviews and summarizes the historical process of China's financial reform. After the international financial crisis in 2008, China's economic reform moved slowly under the internal demand of steady growth. However, the financial reform has made great strides forward because of the opening of the gate of interest rate marketization, but it has gradually buried the root of the current financial chaos, and the current financial chaos. Undoubtedly, it is a yoke that restricts the development of financial reform at present. Therefore, it is necessary to promote "financial deleveraging" and rectify financial chaos so as to create conditions for further deepening of financial reform, and it is even more necessary to focus on economic reform. Focus on the transformation of China's economic growth mode, and focus on breaking the soft budget constraints of state-owned enterprises. Focusing on the stimulation and cultivation of the vitality of private investment, we believe that in light of China's experience in coping with and dealing with "external imbalances" four times since the reform and opening up, and the profound lessons left by the Asian financial crisis in the 1990s, we believe. "Economic Reform-Financial Reform-Financial opening" is the key point of the economic transformation, and it is a more rational and safe choice for China, which is in the reform stage of financial marketization which has not been completely straightened out.
【作者单位】：财新智库莫尼塔研究;
【分类号】：F832.1
【正文快照】： 纵观改革开放以来的金融改革历程,背后鲜明地映射着中国经济从“计划”向“市场”转型的轨迹。其间,不仅积累了丰富的改革经验,也不断面临着如何处理好金融改革与经济改革的关系,如何在金融改革过程中妥善防范和化解金融风险等困境。展望未来,随着中国与全球金融体系日益紧密

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