宏观审慎:历史回顾、政策工具与展望

Macro Prudence: An Historical Review and Future Prospects

宏观审慎一词始于20世纪70年代,全球范围内采用的宏观审慎政策更是近年来的现象。若干年前发端于发达经济体,后来逐步被引入面临过度资本流入的新兴市场国家。本轮金融危机后,宏观审慎政策及工具在全球范围内大行其道。

The term ＂macro-prudential＂ came into use in the 1970s, and since then it has become embraced by policymakers around the world. It started in developed economies, and later gained acceptance in emerging market countries as a way to deal with excessive capital inflows. Since the financial crisis macro-prudential tools and policies have become ever more mainstream.