新自由主义、金融危机与金融监管体制之变革

新自由主义理念支配下的华尔街金融创新日新月异,金融市场"高度繁荣"。受此影响,监管领域出现了反监管思潮,其逻辑后果便是市场与政府(监管)出现双重失灵,金融危机爆发并蔓延。美国金融监管权力配置的欠缺导致监管冲突与监管真空;监管成本与监管收益不匹配;监管部门组成人员配置不合理。在全球金融体制风云变幻的今天,汲取美国教训、完善我国金融监管体制应重点关注:信守保护投资者和消费者之市场永恒价值真谛;建立宏观审慎监管体制以应对系统性风险;通过内部控制与外部监管,完善金融机构治理;构建对监管者之"监管"制度;重点监管民间金融和影子银行系统。

Neoliberalism, Financial Crisis and Reform of Financial Supervision System

Under the neoliberalism, the Wall Street experienced changing financial innovation and high prosperity of financial market. Under its influence, the idea of deregulation has risen in the regulation area, which has resulted in double failures in market and government regulation, the outburst and spread of financial crisis. Deficiency of US financial regulation power distribution has led to conflict and vacuum of regulation, disproportion between regulation cost and regulation benefit, illogicality of manpower disposition in regulating agency. With the daily changing of global financial system, we should learn a lesson from the United States to perfect our national financial regulation system. The emphases are to abide by the permanent values in the market of protecting the investor and consumer, to build a general and prudent regulating system to address systemic risk, to improve financial institutions management through internal control and external regulation, to construct an oversight system aimed at regulators, and to put focus on regulation of civilian financial system and shadow banking system.