俄罗斯金融制度变迁二十年:起点、方案与路径

Russia’s Twenty-year Financial System Change:Start Point,Schemes and Routes

1991年俄罗斯实行私有化改革后,由于其在金融制度改革的起点、方案、路径选择上的失误,其银行体系面临着流动性风险、外汇与信贷风险等金融风险不断增大问题。由经济发展模式的特殊性引起的金融风险危害之大,已经明显在1998年金融危机和2008年国际金融危机中得到证实,阻碍了俄罗斯经济发展战略的实施。俄罗斯金融体系当前仍然面临着建立安全高效的商业银行体系,充分发挥利率、汇率等金融指标调节作用以及维护资本项目开放条件下的金融安全等任务。

After Russian privatization reform in 1991, due to Russia＇s errors in selecting the start point, plans and ways of its financial system reform, its bank system faced a constant increase of financial risks such as current flow risk, foreign exchange risk and credit risk. A serious harmfulness of the financial crisis aroused by the speciality of economic development model was obviously verified in the 1998 financial crisis and the 2008 international financial crisis, which impeded the implementation of Russia＇s economic development strategies. At present, Russian financial system still faces some tasks： establishing a safe, high-efficiency, commercial bank system, giving full play to the adjustment role of interest rate and exchange rate, and upholding a financial security under the conditions of open capital items.