美联储独立性的影响因素分析——政治系统论的视角

美国金融市场的繁荣一定程度上归功于美联储的超凡独立性,这一点被诸多学者所推崇。但是从政治系统论的角度来审视美联储的法律地位,国会、总统、法院、利益集团等都以自己独特的方式对美联储的独立性问题提出了挑战与制约,而美联储亦适时地调整自己的行为做以应对。美国经验告诉我们,一国政治体制对该国中央银行独立性的影响是深刻的,中国在对中国人民银行独立性进行探讨时,与其从法律角度来重构中国人民银行的独立性,倒不如在既有制度框架内实现各机构的协调。

Analysis of Factors Affecting the Independence of Federal Reserve Board:a Political Systems Theory Perspective

To some extent,the prosperity of the U.S.financial markets is due to the independence of the Federal Reserve Board.It was praised by many scholars.But in the perspective of the political system,Congress,the president,courts,interest groups,and other participants in the political system influence on its independence in their own unique ways.And Federal Reserve Board also timely adjust their behavior in response.American experience tells us that political system made a tremendous impact on central bank independence.When we disscuss the independence of People’s Bank of China,it would be better strengthen coordination of the agencies within the framework of the existing system,rather than reconstruct the independence of the People’s Bank of China.