摘要
鉴于哈萨克斯坦资源与地缘优势,且在国际经济中的重要性日益凸显。其如何从世界主要经济体宏观审慎监管实践中得到启迪,于中国、中亚国家的金融稳定意义重大。本文基于解构主义视角,阐述了宏观审慎监管的截面与时间维度及相应的监管方法与工具,分析了哈萨克斯坦系统性金融风险现状与危机后各国尤其是哈萨克斯坦进行宏观审慎监管的必要性。采用文献分析法对危机后美、中及欧盟的宏观审慎监管经验进行解构,并得出结论,哈萨克斯坦应构建明晰的宏观审慎框架,增设更为专业的次级监管机构,而在监管工具运用上,欧盟成员国经验提供了更佳范本;时间维度上构建能映射本国金融整体风险的指标体系,完善系统性风险评估框架;截面维度上强化对国内系统重要性金融机构监管与加强监管国际合作。
In view of the resources and geographical advantages of Kazakhstan,and its increasing importance in the international economy,how to get enlightenment from the macro-prudential supervision practice in the world’s principle economies is of great significance to the financial stability of China and Central Asian countries.From deconstructionism the paper elaborates macro-prudential regulation method and tools in cross-section and time dimension,analyzes the risk status in Kazakhstan and necessity in post-crisis countries,especially in Kazakhstan,and using document method deconstructs the macro-prudential regulation experiences in USA,China and EU after the Crisis,and concludes that Kazakhstan should construct a clear macro-prudential framework and create a more specialized sub-regulator,but the EU members’experience is better in use of regulatory tools,indicator system and assessment framework should be constructed in time dimension;the supervision of D-SIFIs and the international supervision cooperation should be strengthened in cross-section dimension.
作者
左正龙
Zuo Zhenglong(Xinjiang University of Finance and Economics,School of Finance,Xinjiang Fiscal&Financial Cooperation Innovation Research Center;Hengyang Technician College)
出处
《金融发展评论》
2022年第5期21-39,共19页
Financial Development Review
基金
新疆财经大学2018年博士生基金项目“‘一带一路’国家资本市场系统性风险研究”(项目编号:XJUFE2018B005)的资助。
关键词
系统性金融风险
逆周期资本缓冲
资本充足率
金融压力指数
Systemic Financial Risk
Countercyclical Capital Buffer
Capital Adequacy Ratio
Financial Stress Index
作者简介
左正龙,金融学博士研究生,新疆财经大学金融学院,新疆财政与金融协同创新研究中心,衡阳技师学院,Email:zuo1387570@163.com。
