Financial regulatory system. Efficiency and Change

Author: Qian Xia'an
Publisher:
Publish Date: 2006-10-01
Features: Based on the theories and practices of financial regulatory system reforms both domestically and internationally, the author sets the fundamental task of this book as follows: starting from the historical evolution of financial regulatory systems, to conduct comparative analyses of different forms of financial regulatory systems, including unified regulation, single-layer multi-head regulation, double-layer multi-head regulation, institutional regulation, functional regulation, and objective regulation. The book explores the scientific classification and dialectical development process of financial regulatory systems. By categorizing the scientific connotations and basic elements of multiple financial regulatory systems, it reveals the essential characteristics of financial regulation in terms of soundness, efficiency, and fairness. Based on the analysis of effective financial regulatory systems, it proposes institutional requirements for effective financial regulation, including clear regulatory objectives, appropriate regulatory standards, sufficient regulatory capacity, appropriate regulatory independence, effective regulatory coordination, and the lowest regulatory costs, etc. It also conducts functional comparisons and institutional analyses of the division of labor and cooperation between financial regulation and monetary policy. This book creatively addresses the issue of measuring the efficiency of financial regulation. By comparing the pros and cons of different financial regulatory systems, it proposes concepts such as the risk regime of financial regulation, the monetization rate, and regulatory-related ratios, and conducts empirical analyses of the industry and regional aspects of China's financial regulation. To explore the goals of China's financial regulatory system reform, the book, while grasping the international trends of financial regulation, is grounded in the realities of China's financial reform and opening-up, proposing objectives, principles, models, and choices of pathways for establishing a unified financial regulatory system in China.