国家金融学的理论框架、研究体系与展望:一个文献综述

The Theoretical Framework,Research System,and Prospects of National Finance:A Literature Review

面对日趋复杂的国内外经济金融新形势,现有金融理论体系对国家金融行为认识的不足,导致其无法为宏观金融实践提供理论支撑。“国家金融学”的提出对于金融理论发展和指导金融实践均具有重要意义,但其作为一门新兴学科,尚存在需进一步完善、深化的问题。本文介绍了“国家金融学”的理论框架、基本视角和九大需要迫切解决问题的研究进展,并从中梳理总结了国家金融学的未来研究方向,包括最优金融体系标准的构建和检验;“大金融”政策的实施规制和效果评估框架;以“杠杆率”为“锚”的货币政策的可行性;金融监管效率指标体系的设置及其有效性;“规则下促竞争、稳定中求发展”的发展路径量化评价指标;人民币离岸在岸对接模式;碳金融市场和碳金融标准体系的建设及其与人民币国际化进程的对接;如何避免人民币国际化的负面影响;如何推动数字货币加快落地;金融科技的量化测度与发展推动,监管科技的应用;如何发挥现代金融体系建设在一国金融风险防范处置中的重要作用;如何运用“大金融”举措有效处置金融危机;如何在国际金融体系各个细分领域提出具有中国特色的方案并提升话语权;如何使我国主导参与的国际金融组织在国际金融治理中发挥更大的作用;等等。以期吸引和启发更多的研究者参与国家金融学的建设,促进我国构建现代金融体系、维护国家金融秩序、保障并提升国家金融竞争力。

Facing the increasingly complex situation of economics and finance at home and abroad,the lack of understanding of national financial behavior in the current financial theoretical system has led to its inability to provide theoretical support for macro financial practice.The proposal of"National Finance"is of great significance for the theoretical development and practical guidance of finance,but as a emerging discipline,there are still some problems that need to be further improved and deepened.This article introduces the basic theoretical framework and perspective of"National Finance",as well as the research progress on the nine urgent issues that need to be addressed,and summarizes the future research directions of National Finance,including the construction and testing of optimal financial system standards;the policy implementation regulation and effectiveness evaluation framework of the"big finance"policy;the feasibility of monetary policy anchored by"leverage ratio";the establishment of the efficiency indicator system for financial regulation and its effectiveness;quantitative evaluation indicators for the development path of'promoting competition under rules and seeking development through stability";Renminbi offshoreonshore docking mode;the construction of carbon financial market and carbon financial standard system and their connection with the process of internationalization of the Renminbi;How to avoid the negative impact of RMB internationalization;how to promote the implementation of digital currencies;quantitative measurement and development promotion of financial technology,and the application of regulatory technology;the important role of the construction of a modern financial system in preventing and handling financial risks;how to effectively handle financial crises through the"big finance"measures;how to propose solutions with Chinese characteristics and enhance discourse power in various sub sectors of the international financial system;How to enable international financial organizations led by China to play a greater role in international financial governance.This article aims to attract and inspire more researchers to participate in the construction of national finance,promote the construction of China's modern financial system,maintain national financial order,safeguard and enhance national financial competitiveness.