构建跨境资本流动风险的应急机制

Establishing an Emergency Mechanism of Cross-border Capital Flow Risk

跨境资本的异常流动可能会对一国的经济、金融产生巨大的冲击,甚至导致金融危机。构建相应的应急机制有利于降低资本流动带来的风险和冲击。我国自加入WTO以来,特别是在人民币升值预期依然强烈的背景下,资本流入规模猛增,异常资本流动显著加快,构建跨境资本流动风险的应急机制,已成为当务之急。本文在分析我国资本流动的特征和跨境资本异常流动引发的系统风险的基础上,构建出包括预警机制、防范机制和处置机制在内的应对跨境资本流动风险的应急机制。

Abnormal cross-border capital flow may give a heavy blow to a country＇s economy and finance,even result in financial crisis.Establishing a corresponding emergency system could reduce the risk and hit brought by cross-border capital flow.With access to WTO,especially with strong expectance of RMB appreciation,China＇s capital inflow increases heavily and rapidly,thus it has become an urgent problem to establish an emergency system of cross-border capital flow risk.On the basis of analyzing the characteristics of capital flow in China and the system risk brought about by the abnormal cross-border capital flow,this paper has established an emergency system of cross-border capital flow risk,including risk forecasting system,risk preventing system and risk dealing system.