太过复杂的监管规则会抑制经济活力

Over-complex Supervision Rules Inhibit the Economic Vitality Economist

以《多德—弗兰克法案》为代表的复杂监管规则,从微观角度看是合理的,而从宏观角度看则因成本巨大而不合理。造成美国法律法规太过复杂的主要原因一是政府盲目认为可以通过制定法律法规管理所有不测事件;二是利益集团的游说效应。而复杂的法律法规不仅导致监管漏洞和监管重叠并存,还带来巨大的经济成本。对此,立法部门应使用简单明晰的规则,并由独立的第三方机构对重要法律法规进行成本收益分析,由监管部门负责执行。

Complex supervision rules represented by the Dodd-Frank bill are reasonable on the micro level, however, they are unreasonable on the macro level due to the huge cost. The major reasons for the too complex laws and regulations are as follows. Firstly, the government blindly believes that all the unpredictable events can be managed through making laws and regulations. Secondly, there is the lobbying effect of the interest groups. However, the com- plex laws and regulations has not only led to the co-existence of supervision loopholes and overlapping, but also brought huge economic cost. Hence, the legislation department should use simple and clear rules, let the independent third-party institutions conduct the cost-benefit analysis, and let the supervision departments responsible for the implementation.