【摘要】：分權(quán)競(jìng)爭(zhēng)是理解中國(guó)經(jīng)濟(jì)增長(zhǎng)的關(guān)鍵,其中財(cái)政分權(quán)被普遍重視并得到廣泛研究,而金融分權(quán)則因概念模糊、缺乏正式的制度安排被長(zhǎng)期忽視。本文嘗試性地對(duì)這一重要現(xiàn)象進(jìn)行系統(tǒng)研究,基于我國(guó)金融分權(quán)的演變厘清金融分權(quán)的內(nèi)涵,通過構(gòu)建模型研究最優(yōu)金融資本分配問題來理解我國(guó)金融分權(quán)的內(nèi)在邏輯,并據(jù)此對(duì)其演變進(jìn)行初步解釋。研究表明:金融分權(quán)包括金融發(fā)展與創(chuàng)新權(quán)、金融控制權(quán)和金融監(jiān)管權(quán)。可分為兩個(gè)層次,即中央向地方的分權(quán)(金融分權(quán)Ⅰ)和政府向民間的分權(quán)即金融民營(yíng)化或市場(chǎng)化(金融分權(quán)Ⅱ)。改革開放以來我國(guó)金融分權(quán)演變經(jīng)歷了三個(gè)階段,從初期地方金融違規(guī)發(fā)展(開始分權(quán)),逐步轉(zhuǎn)向以風(fēng)險(xiǎn)防范為主(重新集權(quán)),并最終調(diào)整為當(dāng)前地方金融發(fā)展與風(fēng)險(xiǎn)防范并重(適度分權(quán))。金融分權(quán)的演變首要地取決于經(jīng)濟(jì)增速和國(guó)企經(jīng)營(yíng)狀況的變化,本文提出"政府對(duì)待民營(yíng)經(jīng)濟(jì)態(tài)度的鐘擺假說"來解釋金融分權(quán)Ⅱ的演變,而金融分權(quán)Ⅰ的演變則主要取決于由財(cái)政分權(quán)決定的中央與地方的財(cái)政狀況。國(guó)企的金融優(yōu)惠政策如利率管制和政府隱性擔(dān)保,對(duì)上述兩個(gè)層次的金融分權(quán)演變都會(huì)產(chǎn)生重要影響。
[Abstract]:Competition for decentralization is the key to understanding China's economic growth, in which fiscal decentralization is generally valued and widely studied, while financial decentralization is ignored for a long time because of vague concepts and lack of formal institutional arrangements. This paper attempts to systematically study this important phenomenon. Based on the evolution of financial decentralization in China, the connotation of financial decentralization is clarified, and the internal logic of financial decentralization in China is understood by constructing a model to study the optimal allocation of financial capital. Based on this, a preliminary explanation of its evolution is given. The research shows that financial decentralization includes financial development and innovation, financial control and financial supervision. It can be divided into two levels: the decentralization from the central government to the local government (financial decentralization 鈪，

本文編號(hào)：2432695