本文選題：影子銀行 + 規(guī)模效應(yīng)�。� 參考：《中國社會科學(xué)院研究生院》2014年碩士論文

【摘要】：根據(jù)金融穩(wěn)定理事會（FSB）的定義，“影子銀行體系是指游離于傳統(tǒng)銀行體系之外的信用中介組織和信用中介業(yè)務(wù)，其期限或流動性轉(zhuǎn)換、有缺陷的信用風(fēng)險轉(zhuǎn)移和杠桿化特征增加了系統(tǒng)性金融風(fēng)險或監(jiān)管套利風(fēng)險”①。本文將重點研究我國影子銀行的規(guī)模效應(yīng)以及基于規(guī)模效應(yīng)存在的情況下未來我國影子銀行發(fā)展對策的選擇。 通過閱讀大量國內(nèi)外關(guān)于影子銀行的文獻，筆者給出本文我國影子銀行的定義，并根據(jù)定義，給出了我國影子銀行近四年的發(fā)展規(guī)模，給讀者以直觀的規(guī)模理解。 本文基于影子銀行規(guī)模在我國快速增長的現(xiàn)象，效仿股市規(guī)模效應(yīng)研究方法，運用實證分析研究我國影子銀行的規(guī)模效應(yīng)。本文關(guān)于影子銀行的規(guī)模效應(yīng)做了兩部分分析，一種是將影子銀行和商業(yè)銀行、證券業(yè)比較，考察規(guī)模和收益率的關(guān)系；另一種是選取影子銀行中典型的幾類產(chǎn)品進行比較，分析內(nèi)部存在的規(guī)模效應(yīng)。在此基礎(chǔ)上本文選取了行為金融學(xué)中的期望理論和羊群效應(yīng)做進一步說明，，最后得出影子銀行存在規(guī)模效應(yīng)。這種非正常的現(xiàn)象必然會使影子銀行對金融市場造成較大的影響，因此在影子銀行規(guī)模效應(yīng)分析之后繼續(xù)研究影子銀行的規(guī)模效應(yīng)所產(chǎn)生的影響。 針對我國影子銀行存在的規(guī)模效應(yīng)現(xiàn)象及其所帶來的影響，文章在第五部分預(yù)測了未來我國影子銀行的發(fā)展趨勢，并在文章第六部分提出為消除規(guī)模效應(yīng)這種非正常狀態(tài)應(yīng)實施的發(fā)展對策。文章提出，循序漸進推進金融產(chǎn)品創(chuàng)新、完善我國金融監(jiān)管體系、加快經(jīng)濟體制改革，支持實體經(jīng)濟發(fā)展等措施將保障影子銀行健康良好地發(fā)展。 最后，在結(jié)論部分，本文系統(tǒng)地總結(jié)了文章總體核心思想及對待影子銀行未來發(fā)展監(jiān)管的態(tài)度，認為影子銀行作為金融創(chuàng)新的必然趨勢，應(yīng)該在合理適度的金融監(jiān)管環(huán)境下穩(wěn)健地發(fā)展。
[Abstract]:According to the Financial Stability Board (FSB), "the shadow banking system is defined as a credit intermediary organization and credit intermediary business outside the traditional banking system whose duration or liquidity changes." Flawed credit risk transfer and leverage features increased systemic financial risk or regulatory arbitrage risk "1. This paper will focus on the study of the scale effect of shadow banking in China and the future development strategy of shadow banking in China under the condition of the existence of scale effect. By reading a large number of domestic and foreign literature on shadow banking, the author gives the definition of shadow banking in China, and according to the definition, gives the development scale of shadow banking in China in the past four years, and gives readers an intuitive understanding of the scale. Based on the phenomenon of rapid growth of shadow banking scale in China, this paper imitates the research method of scale effect of stock market, and uses empirical analysis to study the scale effect of shadow bank in China. This paper analyzes the scale effect of shadow banking in two parts. One is to compare shadow banking with commercial bank, to investigate the relationship between scale and yield, and the other is to compare several typical products in shadow banking. Analyze the scale effect of internal existence. On this basis, this paper chooses the expectation theory and herd effect in behavioral finance to explain further, and finally draws the conclusion that shadow banking exists scale effect. This abnormal phenomenon will inevitably make the shadow banking have a great impact on the financial market, so continue to study the impact of the shadow bank scale effect after the analysis of the shadow bank scale effect. In view of the phenomenon of scale effect in shadow banking in China and its influence, the fifth part of this paper predicts the development trend of shadow banking in China in the future. In the sixth part of the paper, the development countermeasures should be implemented to eliminate the abnormal state of scale effect. This paper puts forward some measures to ensure the sound and healthy development of shadow banking, such as promoting the innovation of financial products step by step, perfecting our financial supervision system, speeding up the reform of economic system, and supporting the development of real economy. Finally, in the conclusion part, this paper systematically summarizes the overall core idea of the article and the attitude towards the future development and supervision of shadow banking, and thinks that shadow banking is the inevitable trend of financial innovation. Should be in a reasonable and moderate financial regulatory environment under the steady development.
【學(xué)位授予單位】：中國社會科學(xué)院研究生院
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F832.3

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