东亚金融结构与法律制度演进及其对区域金融合作的含义

The evolvement of the financial structure and legal system in East Asia and its implication to regional financial cooperation

区域成员在法律制度和执法效率上的差异,将体现为金融结构的差异,这会导致共同货币政策在区域成员间的传导效果出现较大差异,影响货币联盟的稳定性。东亚各经济体的金融法律制度呈现较大的差异,相应地金融结构也有较大的差异。通过机制化的区域金融合作,采取最低协调一致标准,促进东亚各经济体法律制度和金融结构的渐进趋同,是未来东亚货币金融合作的基础。

The difference in legal system and its enforcement effective among regional members will be reflected by the difference in the financial structure. These differences will make the transfer effect of a common monetary policy different among region members of a monetary union, and this situation will make the union unstable. The financial legal system is quite different among economies in East Asia, as a result the financial structure is quite different. It is important to make the legal system and financial structure gradual convergence among the East Asian economies for the monetary and financial cooperation in the future. The main measures for convergence are through institutionalized regional financial cooperation and by taking concerted minimum standards.