本文關(guān)鍵詞： 影子銀行 金融資源 市場化配置 風(fēng)險(xiǎn) 監(jiān)管　出處：《吉林財(cái)經(jīng)大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

【摘要】：影子銀行最早誕生于20世紀(jì)70年代的美國，是伴隨著金融自由化產(chǎn)生、發(fā)展與膨脹起來，但一直未受到人們關(guān)注，直到2008年金融危機(jī)的爆發(fā)，使影子銀行這一在“陰影”下隱藏的體系暴露出來。影子銀行的風(fēng)險(xiǎn)與監(jiān)管層面的缺失等問題逐漸被人們關(guān)注，成為學(xué)者們研究的熱點(diǎn)。在中國，同樣存在著影子銀行體系，與美國發(fā)達(dá)的影子銀行體系不同，我國影子銀行體系實(shí)質(zhì)是在利率雙軌制和信貸資源稀缺性背景下，承擔(dān)了連接貨幣市場與存貸市場功能的中介運(yùn)作體系，是金融資源市場化配置的產(chǎn)物，是對傳統(tǒng)銀行信用擴(kuò)張渠道的變相替代與補(bǔ)充，同時(shí)體現(xiàn)出我國金融體制的不完善，金融改革滯后等弊端。 制約我國金融資源市場化配置主要原因：一是國家對金融資源的行政性配置，扭曲了市場的競爭機(jī)制；二是利率管制，使市場未能形成合理的資金定價(jià)機(jī)制；三是金融市場體系不健全導(dǎo)致資金供求不能通過金融市場進(jìn)行合理分配；四是金融微觀主體的不完善，導(dǎo)致金融資源難以有效促進(jìn)使用者提高使用效率。影子銀行的產(chǎn)生與發(fā)展，一方面，是金融資源市場化配置的結(jié)果，是金融資源市場化配置的合理要求；另一方面影子銀行的發(fā)展同時(shí)促進(jìn)我國金融資源市場化配置的不斷完善，推動(dòng)金融資源配置的市場化進(jìn)程。 基于此，本文對影子銀行與我國金融資源市場化配置的關(guān)系展開研究�；谟白鱼y行具有高杠桿、期限錯(cuò)配和不受或少受監(jiān)管的特點(diǎn)，探討我國影子銀行對金融資源市場化配置的相互作用以及我國影子銀行的發(fā)展對策。按受監(jiān)管程度不同，本文將我國影子銀行劃分為三類：一是完全游離于監(jiān)管之外的民間信用中介機(jī)構(gòu)，包括民間借貸、互聯(lián)網(wǎng)金融；二是受到較少監(jiān)管的由銀監(jiān)會(huì)批準(zhǔn)成立的非銀行金融機(jī)構(gòu)，如小額貸款公司、擔(dān)保公司等；三是傳統(tǒng)銀行業(yè)務(wù)中為規(guī)避監(jiān)管的“銀行的影子”業(yè)務(wù)，包括銀行理財(cái)產(chǎn)品。影子銀行伴隨金融資源市場化配置需求而產(chǎn)生，其發(fā)展推動(dòng)金融資源市場化配置，，兩者相輔相成。針對我國影子銀行在發(fā)展過程中出現(xiàn)的市場亂象和風(fēng)險(xiǎn)隱患，提出我國對于影子銀行體系的監(jiān)管應(yīng)該利用市場化手段，實(shí)行統(tǒng)一的金融監(jiān)管框架、提高信息透明度、放松行政性金融監(jiān)管、完善金融監(jiān)管法律體系建設(shè)、主動(dòng)參與國際金融監(jiān)管協(xié)調(diào)與合作、加強(qiáng)金融行業(yè)自律和內(nèi)部控制，規(guī)范我國影子銀行的發(fā)展。
[Abstract]:Shadow banking was first born in 1970s in the United States, along with the emergence of financial liberalization, development and expansion, but has not been paid attention to until 2008, the outbreak of the financial crisis. Shadow banking, which is hidden under the shadow, has been exposed. The risk and the lack of supervision of shadow banking have been paid more and more attention, which has become the focus of scholars' research in China. There is also a shadow banking system, which is different from the developed shadow banking system in the United States. In essence, the shadow banking system in China is based on the dual-track interest rate system and the scarcity of credit resources. It is the product of the market-oriented allocation of financial resources and the replacement and supplement of the traditional bank credit expansion channel. At the same time, it reflects the imperfections of our financial system and the laggard of financial reform. The main reasons for restricting the market-oriented allocation of financial resources in China are as follows: first, the administrative allocation of financial resources by the state distorts the competitive mechanism of the market; Second, interest rate control makes the market unable to form a reasonable capital pricing mechanism; Third, the imperfect financial market system leads to the rational distribution of capital supply and demand through the financial market; Fourth, the financial microcosmic main body is not perfect, resulting in financial resources can not effectively promote the use of efficiency. Shadow banking generation and development, on the one hand, is the result of market-oriented allocation of financial resources. It is a reasonable requirement for the market-oriented allocation of financial resources. On the other hand, the development of shadow banking promotes the market allocation of financial resources and promotes the marketization of financial resources. Based on this, this paper studies the relationship between shadow banking and market-oriented allocation of financial resources in China. Based on the characteristics of high leverage, term mismatch and no or less supervision of shadow banking. This paper probes into the interaction of shadow banking to the market-oriented allocation of financial resources and the countermeasures for the development of shadow banks in China according to the degree of supervision. This article divides our country shadow bank into three categories: first, completely dissociates from the supervision outside the folk credit intermediary organization, including the folk loan, the Internet finance; Second, less supervision by the CBRC approved by the establishment of non-bank financial institutions, such as microfinance companies, guarantee companies and so on; Third, the traditional banking business in order to avoid the supervision of the "shadow of the bank" business, including banking financial products. Shadow banking with the demand for market-oriented allocation of financial resources, its development promotes the market-oriented allocation of financial resources. The two supplement each other. In view of the market chaos and risk hidden danger in the process of development of shadow banking in China, the author puts forward that the supervision of shadow banking system in our country should use market-oriented means. We will implement a unified financial regulatory framework, improve the transparency of information, relax administrative financial supervision, improve the legal system of financial supervision, and actively participate in the coordination and cooperation of international financial supervision. Strengthen financial industry self-discipline and internal control, standardize the development of China's shadow banking.
【學(xué)位授予單位】：吉林財(cái)經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F832.39;F832.5

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