金融体系顺周期性研究述评

A Review of the Pro-cyclicality of the Financial System

顺周期性普遍存在于各金融主体中,也广泛存在于不同国家和地区间。金融体系的顺周期性不仅与金融主体的心理因素有关,也与现行政策部门的制度安排有关。因此,政策部门应通过改进资本监管机制、建立宏观审慎监管框架以及建立存款保险制度等对策,来缓释金融体系顺周期效应。

Pro-cyclicality generally exits in various financial bodies, also widely exists in different countries and regions. The pro-cyclicality of the financial system is not only related to the psychological factor of the financial body, but also related to the arrangements of the regulation departments. Therefore, the regulation departments should im- prove capital regulatory mechanisms, establish macro-prudential regulatory framework and deposit insurance system, to release pro-cyclical effects of the financial system.