影响我国金融监管效率的主要因素

Main Factors Affecting the Efficiency of Financial Supervision in Our Country

金融监管政策与货币政策、财政政策构成政府管理经济的三大战略工具。离开有效的金融监管,无法成功管理我国经济转型中产生的各类风险和挑战。当前影响我国金融监管效率的因素主要有:一是金融体系存在广泛的隐性担保,准入壁垒与不公平的竞争环境严重抑制金融业竞争,金融监管外部环境亟待改善;二是监管机构背负的多重目标间存在冲突,监管实践中难以同时兼顾;三是监管机构运作独立性不强、资源严重不足、问责机制薄弱,治理框架需完善;四是行政控制导向的现有分业监管结构日益难以适应金融混业经营迅速发展的现实,重复监管与监管空白并存,缺乏正式的宏观审慎框架,监管合作不规范,信息共享安排不完善:五是类金融组织发展迅速,与正规金融体系的联系日益密切,对区域性金融稳定的影响逐步显现,但其监管存在空白,且各地监管标准不统一。

Financial regulatory policy, monetary policy and fiscal policy are the three strategic tools of government in economy management. Without effective financial regulatory, we are unable to manage various risks and challenges in China＇ s economic transformation successfully. The major factors effec- ted China＇ s financial supervision efficiency currently are as the followings： the first is that there is widespread recessive guarantee in financial system, and barriers to entry and unfair competition envi- ronment seriously restrain the financial industry competition, and it is of great importance to improve the external environment of financial regulation. The second is that regulators burden the conflict be- tween multiple goals, and is difficult to do regulatory practice at the same time. The third is that regu- lators＇ operational independence is not very strong, and they are shortage of resources, and their ac- countability mechanism is weak and the governance framework should be perfect. The fourth is that the oriented structure of administrative control is increasingly difficuh to adapt to the rapid develop- ment of mixed management in financial reality, and there exist repeat regulation and regulatory gaps respectively, and they are lack of formal macro-prudential framework, regulatory cooperation norm, and more perfect information sharing arrangement. The Fifth is that a kind of financial organization is developing rapidly and is increasingly involved with the formal financial system, and the impact of it on the regional financial stability appeared gradually, hut its regulation are blank and are lack of local regulatory standards.