政府干预与市场调节之间的重新平衡——金融危机责任费的经济法反思与启示

政府救助金融危机容易引发市场主体的道德风险,如何在政府与市场主体之间重新分配责任,以纠正因政府救助所致的政府干预与市场调节之间的失衡,是后金融危机时代法律关注的重点。对大型的金融机构征收金融危机责任费,让其最终承担起政府救助成本有助于恢复政府与市场之间的平衡。金融危机责任费对市场主体权利义务的重新调整与责任的重新分配,突破了传统的法律责任理论,具有明显的社会性和身份性;而金融风险的外部性、大型金融机构与中小金融机构之间的不平等风险地位是金融危机责任费的风险根源。此外,它对于完善我国金融法制建设也具有重要的启示意义。

Rebalance between Government Intervention and Market Adjustment: Reflection on FCRF from the Perspective of Economic Law

Since government's effort to remedy financial crisis tends to incur moral risk of market entities,how to re-divide responsibility between the government and market entities so as to redress the imbalance of government interference and market adjustment resulted from the government remedies is a major concern of law in the post-financial-crisis era.Levying financial crisis responsibility fee(FCRF) on large-scale financial institutions to make them undertake the cost of government relief for the financial crisis will conduce to restoring the balance between government and market.The proposal of FCRF,emphasizing readjustment and redistribution of rights and obligations of market entities and their responsibilities,has broken through the traditional liability doctrine and bears obvious social and identity features while the externality of financial risk and the unequal risk status of the large-scale and the medium or small-sized financial institutions serves as the underlying risk indicator of FCRF.No doubt,FCRF is of important reference meaning for improving China's financial law regime.