金融监管漏洞的形成机制及其在我国的应用

金融监管的效果可由金融产品向量和金融监管向量的点积的期望值来表示,由此构建一个解释金融监管漏洞产生机制的模型。模型的分析表明,不仅有关金融产品的监管力度和范畴不够完善、金融混业经营的分业监管会产生监管漏洞,而且基于金融产品新特性的金融创新以及在监管力度不一的分层监管架构下有监管来源级别的选择权时,也必然会产生监管漏洞。具体应用于我国的金融监管现状,漏洞的产生则主要基于监管方法的局限性和监管力度的不足,而非机制设计的缺陷。

The Occurrence Mechanism of Financial Supervision Flaw and Its Application in China

Based on the past literatures on financial regulation,this paper proposed a new model which explained the mechanism for occurrence of financial supervision flaws.The conclusion of model analysis indicates that not only the financial regulation which does not involve all characteristics of financial products,reach the maximal regulating puissance,and separating industrial supervision give birth to flaws,but financial innovation,option among ranks with different stringencies also engender supervision flaws.As the financial regulation,flaw may comes mainly from methodological lacuna and supervising strength deficiency.