三元悖论视角下稳金融的实施方法研究

Research on the Implementation Method of Stabilizing Finance from the Perspective of Triple Paradox

新形势下,我国金融市场面临的不稳定因素日益增多,更为复杂,稳定的金融环境对于实体经济振兴、区域协调发展、系统性金融风险防范具有重要的意义。三元悖论强调一国的汇率安排、货币政策与资本流动三个目标只能同时实现其中两个,必然要放弃第三个目标,本文在三元悖论框架下,综合考虑货币市场、资本市场、外汇市场等不稳定因素,在稳金融过程中,强调货币政策与财政手段的综合运用,形成政策合力,突出“稳金融”与一带一路、西部大开发、区域经济协调发展、振兴实体经济等战略的结合,提出“稳金融”的具体实施方法。本文是基于三元悖论对当前复杂金融形势进行的一次理论与实践相结合的分析与探讨,是对稳金融措施的一次详细总结,对于国家和地区实现金融稳定目标具有一定的启示意义。

A stable financial environment is of great significance to the revitalization of the real economy,the coordinated development of the region,the implementation of China's strategy of creation and the prevention of systemic financial risks.Under the new situation,China's financial market is facing more and more unstable factors.The Triple Paradox emphasizes that the exchange rate arrangement,monetary policy and capital flow of a country can only achieve two of the three objectives simultaneously,but the third goal must be abandoned,so that the factors involved in China's financial stability can be taken into account.In the framework of the Triple Paradox,this paper takes account of the unstable factors,such as money market,capital market and foreign exchange market.In the process of stabilizing finance,the comprehensive application of monetary policy and fiscal means are emphasized,and a policy force is formed.The combination of“stable finance”and the strategy of'the Belt and Road,the Western Development,the coordinated development of regional economy and the revitalization of the real economy'is highlighted,and the specific implementation method of'stabilizing finance'is suggested.The research content of this paper is an analysis and discussion from theory to practice on the current complex financial situation within the framework of the Triple Paradox.It is a detailed summary of financial stabilization measures,and of certain enlightenment significance for the realization of national and regional financial stabilization goals.