从分业到综合:金融业的法律困境、博弈选择及对策

From Legalization to Integration:Legal Dilemma,Game Choice and Countermeasure of Financial Industry

从2016年末的中央经济工作会议到今年的全国两会,在分业监管,混业经营的现实背景下,金融风险备受关注,不管是从业者还是决策者一致强调金融监管体系的重要性,认为其是防范金融风险的关键。本文在此背景下,指出我国当前现实问题分业转向综合经营陷入了极大的法律困境,并从综合经营存在种种法律困境是因政府和金融机构集中于安全与效率间的法律价值博弈选择的结果。通过模型分析得出分业和综合经营间的选择,是因各国的经济、制度环境的不同,政府和金融机构依据地域条件和时间做出理性的选择。笔者从模型分析及国外历史演进证明了综合经营是我国金融业发展趋势的一种"天然"状态,同时借鉴国外的经验及结合我国目前的综合国情提出从分业到综合监管体系过渡的对策以供参考。

From the central economic work conference at the end of 2016 to the national two sessions of this year,the frequency of financial risk prevention is getting higher and higher.Under the reality of financial business sharing and division supervision,from decision makers to practitioners,That the financial regulatory system of advancing with the times,is the key to effective prevention of financial risks.In this context,it is pointed out that China＇s current reality is divided into a comprehensive legal dilemma,and there are various legal dilemmas from the comprehensive operation.The government and financial institutions focus on the choice of legal value between security and efficiency.Through the model analysis,the difference between the institutional environment and the economic environment is the rational choice of the government and the financial institution based on the time and geographical conditions.The author analyzes the model from the model and the evolution of foreign history,which proves that the comprehensive management is a kind of＂natural＂state of the development trend of China＇s financial industry.At the same time,the author draws lessons from foreign experience and puts forward the countermeasures from the industry to the comprehensive supervision system with the current comprehensive national conditions for reference.