金融体系风险分担机制比较研究

Comparative Research of Risk Sharing Mechanism in Financial System

金融体系风险分担机制分为金融市场的横向风险分担机制与银行中介的跨期风险分担机制。横向风险分担机制在规避非系统性风险方面占有优势,而跨期风险分担在规避系统性风险方面占有优势。两种风险分担机制是一种互补关系,适度结合才能更好地发挥金融体系的风险分担功能。在经济全球化的过程中,金融体系的两种风险分担机制都会受到损害,对经济稳定形成威胁,因此我们在金融改革和对外开放的过程中应该从风险分担的视角来进行金融体系设计,保持一个健全的风险分担机制。

The risk sharing mechanism in financial system is divided into lateral risk sharing mechanism and cross-period risk sharing mechanism of medium banks. The lateral risk sharing mechanism has advantage in avoiding non-systematic risk, and the later has advantage in avoiding systematic risk. Both systems have a complimentary relationship, and an appropriate combination will give a full play of the risk sharing function in financial system. Therefore, in the process of financial revolution and opening to foreign counties, a perspective from risk sharing must be taken to implement the design of financial system, in order to maintain a healthy risk sharing system.