影子银行监管中政府职能研究.pdfVIP

影子银行监管中的政府职能研究 摘要 近年来，随着国民经济的飞速发展，一方面居民手中积累的财富日益增长， 面临着存款的负利率、股市的动荡以及黄金市场的不确定性，居民手中闲散的 资金急于寻找保值增值的渠道。另一方面，蓬勃发展的实体经济对于资金的需 求日趋旺盛，银行体系内能够提供的流动性十分有限。这样诸多的社会需求， 推动了我国影子银行的飞速发展。 影子银行作为金融创新的产物，能够在监管之外向社会提供流动性，是传 统金融机构的有益补充。然而，其自身具有的高杠杆率、非透明化等风险属性， 使其具有引发系统性风险的危险性。 自2008年美国爆发了由影子银行引发的次贷危机以来，使全球经济陷入 动荡。我国国内虽没有受到来自危机的巨大冲击，但影子银行业务带来的金融 体系风险越来越引起各方关注。诸如某银行表外理财产品无法兑付、p2p融资 平台卷款潜逃、某地民间借贷资金链断裂全民陷入三角债等由影子银行引发的 负面报道频频见诸媒体。 本文期望借助公共管理的理论对影子银行监管中的政府职能进行研究，研 究发现我国影子银行监管中存在诸如监管部门职责分配不清、制度建设不完 善、监管部门对影子银行风险属性宣传不足等问题。在分析研究了欧美发达经 济体对影子银行的监管沿革后，结合我国实际情况，提出几点改进政府监管的 对策与建议，希望能够对改善我国影子银行政府监管，提高监管部门履职质量 方面提供有益借鉴。 关键词：影子银行，政府监管，职能研究 Ⅱ STUDY oF GoVERNMENTAL REGULATIoN oF THE SHADOW BANl(ING ABSTRACT In recent years，with the rapid development of the national economy,on the one hand the growing accumulation of wealth in the hands of the residents are faced with negative interest rates of deposits，stock market volatility and uncertainty in the gold market，in the hands of residents eager to find idle funds and increasing the value of the channel．On the other hand，the real economy booming demand for funds increasingly strong，the banking system to provide liquidity is very limited．So many social needs，and promote the rapid development of Chinas shadow banks． As a product of the shadow banking financial innovation，to provide liquidity to the community in addition to regulation，is a useful supplement to traditional financial institutions．However,the high leverage has its own，non-transparent and SO the risk of property,it has raised the risk of systemic risk． Since 2008 the United States broke out of the shadow banking triggered by the subprime crisis，the global economy into turmoil．Chinas domestic，although not been a huge hit from the crisis，but the financial risks caused by the shadow banking system has attracted wide attention．Such as a bank—balance-sheet financial products Can not be honored，p2p financing platform escaped fled，some to private lending‘funds strand breaks into a national debt default a