本文選題：跨境資金 + 本外幣　； 參考：《上海交通大學(xué)》2013年碩士論文

【摘要】：隨著當(dāng)前我國(guó)經(jīng)濟(jì)前景向好、經(jīng)濟(jì)體制改革不斷深入、融入全球經(jīng)濟(jì)金融一體化的程度日益加深，我國(guó)跨境資金流動(dòng)規(guī)模也隨之不斷擴(kuò)大�？缇迟Y金流動(dòng)給我國(guó)經(jīng)濟(jì)發(fā)展帶來(lái)了機(jī)遇和挑戰(zhàn)，增加了對(duì)我國(guó)宏觀調(diào)控的壓力以及增加了經(jīng)濟(jì)金融穩(wěn)定運(yùn)行的風(fēng)險(xiǎn)。在此背景下，本文分析了現(xiàn)行跨境本外幣資金流動(dòng)監(jiān)管現(xiàn)狀，剖析了目前監(jiān)管中存在的問(wèn)題，通過(guò)將運(yùn)用貨幣危機(jī)防范理論與從事外匯管理工作的實(shí)踐經(jīng)驗(yàn)創(chuàng)新結(jié)合，提出了解決完善跨境資金流動(dòng)監(jiān)管的對(duì)策。 本文共分五個(gè)篇章。第一章是緒論部分，主要介紹了本文的研究背景和意義。指出當(dāng)前全球跨境資金流動(dòng)的趨勢(shì)以及我國(guó)目前面臨跨境資金流動(dòng)帶來(lái)的壓力導(dǎo)致現(xiàn)行跨境資金監(jiān)管體系已難以適應(yīng)經(jīng)濟(jì)發(fā)展的要求。通過(guò)歸納多個(gè)學(xué)者對(duì)跨境資金流動(dòng)的研究理論，總結(jié)得出通過(guò)設(shè)置跨境資金交易稅，，來(lái)增加跨境資金交易成本，提高跨境資金流動(dòng)門(mén)檻，來(lái)實(shí)現(xiàn)防范跨境資金流動(dòng)風(fēng)險(xiǎn)監(jiān)管的目標(biāo)。本文的創(chuàng)新之處是提出了本外幣整體監(jiān)管的思路，即開(kāi)放和管理并重、成本和效率并重、流入流出均衡管理以及相關(guān)政策協(xié)調(diào)配合。 第二章是跨境資金流動(dòng)監(jiān)管理論基礎(chǔ)。首先是闡述了跨境資金流動(dòng)與熱錢(qián)概念，分析了二者之間的關(guān)系，得出熱錢(qián)是以追求價(jià)差收益為目的，迅速移向能提供更好回報(bào)的任何國(guó)家的流動(dòng)性較高的跨境資金流動(dòng)的結(jié)論。然后分析跨境資金流動(dòng)的積極與消極兩方面的效應(yīng)，筆者認(rèn)為要正確看待跨境資金流動(dòng)對(duì)我國(guó)經(jīng)濟(jì)的影響。最后是通過(guò)闡述貨幣危機(jī)理論的歷史沿革，分析得出如果國(guó)際融資存在著外部不經(jīng)濟(jì)，那么就會(huì)導(dǎo)致境內(nèi)外利差和匯差，造成負(fù)面的沖擊影響，從而導(dǎo)致經(jīng)濟(jì)衰退甚至是貨幣危機(jī)。從而得出本文的理論依據(jù)為第三代貨幣危機(jī)防范理論結(jié)合我國(guó)的實(shí)際出發(fā)，實(shí)現(xiàn)完善金融監(jiān)管的主體設(shè)置，確定明確的監(jiān)管原則，加強(qiáng)完善金融監(jiān)管體系的建設(shè)。 第三章是我國(guó)跨境本外幣資金流動(dòng)監(jiān)管現(xiàn)狀及問(wèn)題分析。首先是陳述我國(guó)跨境資金流動(dòng)監(jiān)管歷史沿革以及監(jiān)管現(xiàn)狀，得出我國(guó)目前跨境資金流動(dòng)存在的潛在風(fēng)險(xiǎn)是會(huì)增加基礎(chǔ)貨幣的投放、會(huì)促使物價(jià)的飛速上漲以及會(huì)削弱貨幣政策的獨(dú)立性。然后是列舉當(dāng)前我國(guó)跨境資金流動(dòng)監(jiān)管存在的問(wèn)題，如跨境資金流動(dòng)監(jiān)管政策存在漏洞、跨境資金流動(dòng)協(xié)調(diào)監(jiān)管機(jī)制缺失、商業(yè)銀行代位監(jiān)管跨境資金流動(dòng)難以落實(shí)、本外幣跨境資金流動(dòng)統(tǒng)計(jì)監(jiān)測(cè)體系尚不健全等。最后筆者對(duì)上述問(wèn)題進(jìn)行了原因剖析，認(rèn)為主要是由于法規(guī)及制度保障不完善、存在套利機(jī)制及人員素質(zhì)有待提高導(dǎo)致上述問(wèn)題的產(chǎn)生。 第四章是通過(guò)借鑒英國(guó)和巴西的跨境資金流動(dòng)監(jiān)管經(jīng)驗(yàn)得出對(duì)我國(guó)跨境資金流動(dòng)監(jiān)管的啟示。其中英國(guó)的跨境資金流動(dòng)經(jīng)驗(yàn)對(duì)我國(guó)的啟示是要完善相關(guān)部門(mén)協(xié)調(diào)機(jī)制、加強(qiáng)對(duì)銀行的監(jiān)管、及時(shí)共享監(jiān)管數(shù)據(jù)以及進(jìn)一步完善市場(chǎng)機(jī)制。巴西的跨境資金流動(dòng)監(jiān)管經(jīng)驗(yàn)給我國(guó)的啟示是可以借鑒托賓稅的管理政策來(lái)加強(qiáng)對(duì)跨境資金流動(dòng)的監(jiān)管。 第五章是針對(duì)目前我國(guó)跨境本外幣資金流動(dòng)監(jiān)管存在的問(wèn)題，一是提出了完善跨境資金流動(dòng)監(jiān)管制度建設(shè)的建議，主要是完善現(xiàn)行外匯管理政策、推行托賓稅調(diào)節(jié)資本流動(dòng)成本、強(qiáng)化外匯指定銀行“代位監(jiān)管”、加強(qiáng)外匯管理隊(duì)伍建設(shè)及提高人員素質(zhì)。二是提出了完善跨境資金流動(dòng)監(jiān)管協(xié)調(diào)機(jī)制的建議，主要是形成本外幣監(jiān)測(cè)與監(jiān)管聯(lián)動(dòng)機(jī)制、形成對(duì)外資流出入的聯(lián)合監(jiān)管機(jī)制以及建立跨系統(tǒng)的異常投資外匯資金協(xié)作檢查機(jī)制。三是提出了完善跨境資金流動(dòng)監(jiān)測(cè)體系的建議，主要是完善本外幣跨境資金流動(dòng)監(jiān)測(cè)系統(tǒng)、建立跨境資金流動(dòng)預(yù)警體系。 本文的創(chuàng)新之處是從貨幣風(fēng)險(xiǎn)防范理論研究角度出發(fā)，來(lái)分析判斷我國(guó)跨境本外幣資金流動(dòng)監(jiān)管存在的風(fēng)險(xiǎn)，在分析客觀存在的問(wèn)題上，系統(tǒng)地提出了解決我國(guó)跨境本外幣資金流動(dòng)風(fēng)險(xiǎn)的監(jiān)管措施。
[Abstract]:With the economic prospect of our country to be better, the reform of economic system is deepening, the degree of integration into the global economic and financial integration is deepening, and the scale of cross-border capital flow is expanding. The cross-border capital flow has brought opportunities and challenges to the economic development of our country, increased the pressure on macro regulation and control of our country and increased the economy. In this context, this paper analyzes the current situation of the current cross-border money flow regulation and analyzes the existing problems in the current supervision. By combining the use of the theory of currency crisis prevention and practice experience innovation in foreign exchange management, this paper puts forward some countermeasures to improve the supervision of cross-border capital flow.
This article is divided into five chapters. The first chapter is the introduction part, which mainly introduces the background and significance of this study. It points out that the current trend of global cross-border capital flow and the pressure of our country's current cross-border capital flows lead to the difficulty of adapting the current cross-border capital supervision system to the requirements of economic development. The research theory of cross-border capital flows has concluded that through setting up cross-border capital transaction tax to increase cross-border capital transaction costs and improve cross-border capital flow threshold, we can achieve the goal of preventing cross-border capital flow risk supervision. The innovation of this paper is to put forward the idea of the regulation of the whole foreign currency, that is, the importance of openness and management, the cost and the cost. Efficiency is equal, inflow and outflow equilibrium management and coordination of relevant policies.
The second chapter is the theoretical basis of cross-border capital flow regulation. First, it expounds the concept of cross-border capital flow and hot money, analyzes the relationship between the two, and draws the conclusion that hot money is a conclusion that is aimed at pursuing the price difference income, and quickly moves towards the flow of high liquidity in any country which can provide better returns. In the two aspects of the positive and negative effects of the flow, the author thinks that we should take a correct view of the impact of cross-border capital flows on China's economy. Finally, through the historical evolution of the theory of monetary crisis, it is concluded that if the international financing exists external diseconomies, it will lead to the difference between domestic and foreign interest and foreign exchange, resulting in negative impact. It leads to the economic recession and even the monetary crisis, thus the theoretical basis of this paper is based on the third generation of the monetary crisis prevention theory and the reality of our country, to realize the subject setting of perfect financial supervision, to determine the clear supervision principle and to strengthen the construction of the financial supervision system.
The third chapter is an analysis of the current situation and problems of the supervision and regulation of cross-border money flow in our country. The first is to state the historical evolution of China's cross-border capital flow regulation and the status of its supervision, and the potential risk of the current cross-border capital flow in China is that it will increase the investment of the basic currency, promote the rapid rise of the price and weaken the monetary policy. Secondly, it enumerates the problems existing in the current supervision of cross-border capital flow in China, such as the loopholes in the supervision policy of cross-border capital flow, the lack of coordination regulatory mechanism of cross-border capital flow, the difficult implementation of the cross-border capital flow of commercial banks, and the imperfect monitoring system of cross-border capital flow. Finally, the author The reasons for the above problems are analyzed, and the main reason is that the regulations and system guarantee are not perfect, and the existence of arbitrage mechanism and the quality of personnel needs to be improved.
The fourth chapter draws lessons from the experience of cross-border capital flow supervision in Britain and Brazil. The Enlightenment of the experience of cross-border capital flow in Britain is to improve the coordination mechanism of relevant departments, strengthen the supervision of the banks, share the regulatory data in time and further improve the market mechanism. The experience of Brazil's supervision over cross-border capital flows has inspired China to learn from Tobin tax administration policy to strengthen cross-border capital flow regulation.
The fifth chapter is to solve the existing problems in the supervision of the current cross-border money flow supervision in China. One is to improve the construction of the regulatory system of cross-border capital flow, mainly to improve the current foreign exchange management policy, to implement the Tobin tax to regulate the cost of capital flow, to strengthen the "subrogation supervision" of the foreign exchange designated bank, and to strengthen the construction of the foreign exchange management team. And improve the quality of personnel. Two is to improve the coordination mechanism of cross-border capital flow supervision and coordination mechanism, mainly to form the linkage mechanism of foreign currency monitoring and supervision, the formation of joint supervision mechanism of foreign capital flow and entry, and the establishment of cross system foreign exchange funds for abnormal investment cooperation inspection machine system. Three is to improve the monitoring of cross-border capital flow monitoring. The proposal of the system is mainly to improve the monitoring system for cross-border capital flows of foreign currencies, and to set up an early warning system for cross-border capital flows.
The innovation of this paper is from the point of view of the theory of monetary risk prevention, to analyze and judge the risks of the supervision of the flow of capital flows across the border of our country. On the analysis of the objective problems, the supervision and measures to solve the risk of the flow of capital and foreign currency in our country are systematically put forward.
【學(xué)位授予單位】：上海交通大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類(lèi)號(hào)】：F832.5

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