宏观经济政策与金融发展2007.pdfVIP

China Annual International Finance Forum 2007—2007中国国际金融论坛 Beijing November 8–9, 2007—北京2007年11月8-9日 Macroeconomic Policies Macroeconomic Policies and Financial Development and Financial Development 宏观经济政策与金融发展 宏观经济政策与金融发展 Tarhan Feyzioğlu Tarhan Feyzioğlu Resident Representative Resident Representative International Monetary Fund International Monetary Fund 费达翰 费达翰 国际货币基金组织驻华代表 国际货币基金组织驻华代表 The views expressed in this presentation are those of the author and should not be attributed to the IMF, its Executive Board, or its management. 1 以下言论仅代表作者本人观点，与IMF及其执行管理层无关。 Macroeconomic stability is critical for Macroeconomic stability is critical for financial development … financial development … 宏观经济稳定对金融发展至关重要… 宏观经济稳定对金融发展至关重要… • The stability and resilience of the financial sector rests on three intertwined pillars: 金融部门的稳定和恢复能力取决于三个相辅相成的支柱 – The macroeconomic environment 宏观经济环境 – The regulatory and the supervisory bodies 监督管理机构 – The market infrastructure and condition 市场基础设施和条件 • Weak macroeconomic policies could fuel financial crises 薄弱的宏观经济政策会促成金融危机 – The Nordic banking crisis 北欧银行危机 – The crisis in Argentina 阿根廷危机 2 …and financial development is critical for …and financial development is critical for macroeconomic stability.