| 金融周期、“大而不倒”与银行业宏观审慎监管改革 |
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| 引用本文： | 姜华东.金融周期、“大而不倒”与银行业宏观审慎监管改革[J].华东经济管理,2014(3):86-90. |
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| 作者姓名： | 姜华东 |
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| 作者单位： | [1]上海立信会计学院 金融学院,上海 201620 [2]上海财经大学 金融学院,上海 200433 |
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| 基金项目： | 上海市哲学社会科学基金项目“基于资产价格视角的逆周期金融宏观审慎监管研究”（2011EJB003）;上海市教委科研创新重点项目“信贷竞争与我国影子银行体系的适度监管研究”（1425159）;立信开放经济与风险管理学科基金项目（KFXKQ11-2） |
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| 摘 要： | 文章通过资本监管的视角，讨论了我国的金融周期性和系统重要性机构的“大而不倒”问题。基于银行业面板数据的实证研究表明，资本监管具有一定的顺周期性，系统重要性机构也存在一定的“大而不倒”特性。在过去10年间，由于我国实施了逐步严格的监管政策，这种周期性是有所增强的。金融宏观审慎监管改革将有助于进一步规避金融周期性带来的损失，而具有系统重要性的大型金融机构更应当受到关注。
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| 关 键 词： | 金融周期 大而不倒 资本监管 |
Financial Cyclicality,“Too-big-to-fail”and Macro-prudential Banking Regulatory Reform in China |
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| JIANG Hua-dong.Financial Cyclicality,“Too-big-to-fail”and Macro-prudential Banking Regulatory Reform in China[J].East China Economic Management,2014(3):86-90. |
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| Authors: | JIANG Hua-dong |
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| Institution: | JIANG Hua-dong (1. Department of Finance, Shanghai Lixin University of Commerce, Shanghai 201620, China; 2. School of Finance, Shanghai University of Finance and Economics, Shanghai 200433, China) |
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| Abstract: | The paper analyzes financial cyclicality and“too-big-to-fail”problem of important institutions in the industry from the perspective of capital regulation. The empirical study,based on banking panel data,indicates that the capital regula-tion has a pro-cyclicality,and important institutions in the industry display the feature of“too-big-to-fail”. This cyclicality is somewhat enhanced since China implemented progressively strict regulatory policies in the past ten years. The macro-pruden-tial regulatory reform will help to further avoid financial losses caused by pro-cyclicality. A great importance should also be at-tached to large financial institutions with systemic importance. |
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| Keywords: | financial cyclicality too-big-to-fail capital regulation |
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