摘要
金融国际化进程中的国家宏观金融稳健性问题一直备受各国关注。本文基于金融国际化的视角,构建了宏观金融稳健性评价指标体系,并运用主成分分析法测度了中国1982-2009年的宏观金融稳健性状况。研究发现,中国在金融开放与金融封闭条件下,均存在金融安全问题,但宏观金融稳健性的表现特征显著不同;随中国金融国际化进程的推进,宏观金融稳健性先恶化、后改善,内源性(外源性)金融危机的爆发概率会降低(升高)。本文认为,不能因为金融开放进程中出现的金融风险与金融安全问题束缚了金融国际化的步伐,在今后一段时期,我国应在金融国际化加速的进程中,动态地维护国家宏观金融稳健性。
The issue of national macro-financial soundness during the process of a country＇s financial internationalization has been paid much attention to by every country. Based on the perspective of international financial internationalization, this paper constructs a macro-financial soundness evaluation indicator system and measures China＇s macro-financial soundness from 1982 to 2009 by employing the methodology of principal components analysis. The main conclusions are： Firstly, under the conditions of financial openness and closure, problems of financial security appear equally, however, the performance characteristics of China＇s macro-financial soundness differ significantly; Secondly, macro-financial soundness deteriorates first and improves later with the advancement of China＇s financial internationalization, and the probability of occurrence of endogenous （ exogenous ） financial crisis will decrease （ rise ） . The author makes suggestions that the pace of China＇s financial internationalization should not be constrained because of problems of financial risks and financial security emerging in the process of financial opening and China should dynamically vindicate the national macro-financial soundness during the accelerating process of China＇s financial internationalization.
出处
《南方金融》
北大核心
2013年第1期28-33,共6页
South China Finance
基金
上海市教委科研创新重点项目<全球危机视角下金融国际化与金融安全之关系研究:理论
案例与实证-一个时空维度上的跨国比较研究>(项目编号:13ZS123)
上海市教委重点学科金融学建设项目(项目编号:J512-01)
上海对外贸易学院"085工程"学科科研项目(项目编号:Z08511057)的资助
关键词
宏观金融稳健性
金融国际化
评价指标
Macro-financial Soundness
Financial Internationalization
Evaluation Indicators
