金融科技与全球金融治理体系变革:基于国际金融公共产品理论的再探索

Fintech and the Reform of Global Financial Governance System:A Re-exploration Based on the Theory of International Financial Public Goods

金融科技发展正推动着全球金融治理体系的深刻变革,而国际金融公共产品理论则为厘清本轮变革提供了合适的分析框架。本文首先梳理分析了国际金融公共产品理论,进而从全球金融治理体系变革的技术性推动力和变革路径的视角,以中间阶段国际金融公共产品为剖析对象,尝试归纳和分析了金融科技发展背景下全球金融治理体系变革。研究发现,关联产品(joint products)激励作用得到增强;信息器物型国际金融公共产品供给存在“新老竞争”和“公私竞争”;制度型国际金融公共产品中的金融科技国际标准规则正在形成;观念型国际金融公共产品得到新发展,并引领国际金融实践。面对国际金融创新和全球金融治理的新形势,我国应该积极推动法定数字货币跨国使用,引领新兴经济体国家参与以国际清算银行为核心执行平台的治理体系,同时设立金融科技试验区以对接国际金融科技发展前沿。

The development of Fintech is driving profound changes in the global financial governance system. The theory of international financial public goods provides an appropriate analytical framework to clarify the current round of changes. This paper first analyzes the theory of international financial public goods and then tries to summarize and analyze the reform of the global financial governance system under the background of Fintech development by taking the intermediate stage of international financial public goods as the analysis object from the perspective of technical impetus and reform path of the global financial governance system. The study found that the incentive effect of joint products was enhanced;There are "old and new competition" and "public-private competition" in the supply of information-based international financial public goods;International standard rules of Fintech in institutional international financial public goods are taking shape;Conceptual international financial public products have gained new development and lead international financial practice. Facing the new situation of international financial innovation and global financial governance,China should actively promote the transnational use of legal digital currency,lead emerging economies to participate in the governance system with BIS as the core implementation platform,and set up a financial technology pilot zone to connect with the forefront of international financial technology development.