西方监管理论对中国国有企业监管的适用性

The Applicability of Regulaotry Theory to State-owned Enterprise Regualtion in China

西方经济学中的监管理论无法为中国国有企业的监管问题提供有效的分析框架,这源于这些理论主要基于市场经济国家的监管经验,而无法捕捉到转型经济中国有企业监管的独特性。本文从转型国家国有部门的两个基本事实出发,推理出对国企监管者进行激励及约束的必要性和可能性,是转型经济中国企监管的独特之处;监管体制设计和政治环境是影响中国国有企业监管成效的重要因素。

The existing regulatory theory,which is rooted in western market economies,cannot provide a proper theoretical framework for the regulation issues of state-owned enterprise（ SOE） in China. That is mainly because based on the regulation experience of market economies,the existing regulatory theory cannot capture the typical characteristics of SOE regulation in transition economy. Taking two stylized facts in transition economy as the logical starting point,this paper tries to prove that the possibility and necessity of motivating and constraining the regulators is one characteristic of SOE regulation in transition economy. Further,we argue that the regulatory regime and political environment are the important factors that can influence the efficiency of SOE regulation in China.