国际金融危机形成机制及对我国的政策启示

The Forming Mechanism of the International Financial Crisis and Its Policy Implication for China

本文认为,我国经济中的风险因素不断累积,金融体系已经靠近出现系统性风险的边缘,将深化改革、理顺决策机制与制定合理政策结合起来是唯一合理可行的出路。在政策方面,要加强协调沟通,并将其长期化、制度化,防止国际资本流动引发货币危机,加强证券市场监管,解决制约资本市场发展的关键问题。在改革方面,则应树立科学发展观,继续探索适合中国国情的经济和金融体制;加强对国有金融机构特别是银行的经营指导和创新监管;协调好虚拟经济和实体经济的关系,改革社会保障、医疗和就业体制;确立储蓄和消费的合理关系,推动金融结构优化;防止国际资本冲击或控制国内金融;加快构建稳健高效的金融安全防范和管理体系。

The authors believe that China is facing a very complicated situation. So, to address this, we should keep deepening reform, straightening out mechanism in decision making and making rational policies simultaneously, which is the only rational way to conquer this. In terms of policy, we should strengthen coordination and communication. In terms of reform, we should, first, pursue a scientific outlook on development; second, strengthen guidance on operation and supervision on innovation for state-owned financial institutions, especially the banks; third, coordinate relations between virtual economy and real economy; fourth, establish a rational relationship between savings and consumption; fifth, prevent impact brought by international capital or control domestic finance; and sixth, make innovation in mechanism of decision making.