从历史及国际视角看我国当前的影子银行

On the Shadow Banking in China from a Historical and International Perspective

我国经济目前处于“三期”叠加阶段.随着经济下行压力加大,我国的影子银行再次成为人们关注的焦点.文章从历史及国际视角对我国当前的影子银行进行了探讨,分析认为：我国当前的影子银行与20世纪80～90年代出现的农村基金合作会与“金融三乱”在形成背景上有着极大的相似性.同时,我国当前的影子银行与美国20世纪60～70年代的影子银行比较接近.因此,面对当前的影子银行,我国应积极吸取美国利率市场化前后影子银行监管的经验教训.

Nowadays, China＇s economy is in a ＂ three＂ overlay stage. With the downturn pressure in economic growth, shadow banking in Chinahas become the focus of people＇s attention once again. The article discussed the shadow banking in China from a historical and internationalperspective. An analysis in the article indicates that, the shadowbanking in China is similar in the happening background to the Rural CooperativeFoundation and the ＂Three Mess of Finance＂ which arose in China during the 1980s and 1990s. Meanwhile, the shadow banking in China is alsosimilar to the shadow banking in America during the1960s and 1970s. Therefore, during the period of interest rate liberalization, China shouldactively learn from the supervision mistakes of the shadow banking in America.