收入分配改革中的金融政策工具及其法律配置

Monetary Policy Instruments and Their Legal Configuration under Income Distribution Reform

利率、汇率、信贷、资本市场定价机制等金融政策工具具有强大的收入分配功能,但金融法的价值取向与思维模式遮蔽了人们对这一功能的认识。纠偏金融政策工具收入分配功能在我国的异化,需要对信贷权、融资权和财产权进行权利配置,对不同效力的法律规范进行组合配置,并需要在具体制度设计方面取消存款利率管制、将央行的居民储蓄管理功能与货币政策实施功能分离、拓展小额信贷与微型金融的融资渠道、打造公开透明和市场化的资本市场定价机制。

Monetary policy instruments such as interest rates,exchange rates,credit and capital market pricing mechanism have powerful income distribution function,but the function has not been fully recognized due to the values and thinking patterns of financial law. In order to redress the alienation of monetary policy instruments＇ income distribution function,it＇s necessary to deploy the rights of credit,financing and property,and pay attention to portfolio allocation of legal norms with different effectiveness. Simultaneously,it＇s necessary to cancel the deposit interest rate controls,separate central bank＇s function of household savings management from the function of monetary policy implementation,expand financing channels of microcredit and microfinance,and create a transparent and market-oriented pricing mechanism for capital market.