Abstract
Shadow banking was first put forward by Mc Cully, the executive director of Pacific Investment Management Company, in the Fed's annual meeting in 2007, which he defines shadow banking as a kind of financial entities that divorced from the traditional banking system, almost unregulated or less regulated. Since then, the concept of shadow banking spread rapidly worldwide, and has been widely cited and elucidated. At the same time, shadow banking has become an increasingly important objective existence in China. Although the scale of shadow banking is still far smaller than the traditional system, but the development of shadow banking in China is fast, and the social influence is widespread. Therefore, on the basis of studying the history and current situation of the shadow banking around the world, this paper analyzes the Chinese shadow banking system.
Highlights
he defines shadow banking as a kind of financial entities that divorced from the traditional banking system
庞大的影子银行规模,约占全球影子银行总规模的35%, 以金砖四国为代表的新兴市场国家也在金融危机后发展 [1] 杜亚斌,顾海宁.影子银行体系与金融危机[J].审计与经济
Summary
In the Fed's annual meeting in 2007, which he defines shadow banking as a kind of financial entities that divorced from the traditional banking system, almost unregulated or less regulated. 经济学院,上海大学,上海,中国 邮箱 zhangles_90@126.com 摘要:影子银行的说法最早由美国太平洋投资管理公司的执行董事麦卡利在2007年的美联储年度会议上提出,他定义 影子银行为游离于传统银行体系之外的,几乎不受监管或受较少监管的金融实体。此后,影子银行的概念在全球范围 内迅速传播,被广泛地引用和阐发。影子银行在中国也变成越来越重要的客观存在,虽然规模与银行体系相比还相去 甚远,但中国影子银行发展速度迅速,社会影响面广泛。因此本文在研究世界范围内影子银行发展历程与现状的基础 上,对中国的影子银行体系进行了分析。 关键词:影子银行,利率市场化,货币流动性 流动性松紧的判断,以新增商业银行信贷量作为衡量 社会整体货币环境宽松度的传统指标,但由于经济的创新 发展,市场紧盯的银行存贷款数据已经不能完整的表明整 体经济体资金供求状况。几十年来,对于流动性的研究, 一格局,中央银行和商业银行流动性联动和其资产负债表 的勾稽关系做深入研究的思想被打破。伴随着货币数量论 所描述的流动性创生机制再也不能全面描述流动性,影子 银行步入了历史的舞台。
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