金融风险财政化研究——基于金融体制改革的数量分析

On the Fiscalization of Financial Risks——Econometrical Analysis Based on Financial Institution Reform

该文在界定金融风险财政化的内涵和描述其表现形式的基础之上,从制度变迁入手分析了金融市场化对金融风险财政化的影响,探讨了测度金融风险财政化的方法,并据此测度了中国的金融风险财政化,发现中国金融风险财政化的水平在总体上呈现为递减的趋势。相关模型实证分析的结果表明,金融市场化在长期内是抑制金融风险财政化的重要变量,为此要通过深化金融体制改革和完善财政体制改革等措施来消除金融风险财政化。

Based on defining fiscalization of financial risks and describing its acting forms, the authors an- alyze the effect of financial marketization on fiscalization of financial risks through institutional transfor- mation. According to this the method to measure fiscalization of financial risks is studied and the index of fiscalization of financial risks in China was measured. Finally, the empirical conclusion indicates that financial marketization is an important variable to depress fiscalization of financial risks in the long run, so a suggestion is presented that financial and fiscal institution reform should be taken to eliminate the fiscalization of financial risks.