从次贷危机看我国金融衍生市场监管路径的选择

Discussion on the Regulatory Path Selection of Financial Derivatives Market from a Sub-prime Mortgage Crisis View

次贷危机爆发后,各国金融监管当局开始重新审视与思考金融监管问题,并开始把金融监管触角延伸到金融产品层面,希望通过加强对金融产品研发、交易和传播链条上每一环节的监控,从源头上控制金融风险的发生与蔓延。基于此,本文重点探讨了金融衍生品与次贷危机的逻辑关系,并从监管层面对危机的爆发进行了相关分析,最后结合我国现状探讨了如何选择监管路径以提高监管能力的问题。

After the outbreak of sub-prime mortgage crisis, the world＇s financial regulatory authorities have begun to re-examine and think about the financial regulatory issues, and they also began to expand the financial supervision on financial products with the hoping of strengthening supervision in each chain like the link of development, trading and communication links about financial products, which could monitor the occurrence and spread of financial risk from the source. Based on this, the article first focuses on the logic relationship between financial derivatives and the sub-prime crisis. Secondly, the paper analyzed the outbreak of crisis from the regulator＇s actions. And finally, the paper has a discussion on how to choose a better regulatory path in order to enhance regulatory capacity which combined with the status of China.