2008年金融危机后,世界各国越发意识到防范系统性金融风险的重要性,因此各国金融监管当局在注重微观审慎的同时,也开始强调宏观审慎管理框架的构建。随着世界经济金融一体化的发展,各国之间的联系更加紧密,一国的政策实施可能会对他国产生影响,即产生政策的溢出效应,此时政策的国际协调就显得尤为重要。目前,宏观审慎政策的国际协调还未受到足够重视。本报告在分析宏观审慎政策的国际溢出效应以及宏观审慎政策国际协调的现有途径与问题后,对完善宏观审慎政策的国际协调、维护国际金融市场稳定提供了政策建议。
<<After the 2008 financial crisis,countries around the world have become more and more aware of the importance of preventing systemic financial risks. Therefore,while focusing on micro-prudence,financial regulatory authorities in various countries have also begun to emphasize the construction of macro-prudential management frameworks. With the development of world economic and financial integration,countries are more closely linked,and the implementation of policies in one country may have an impact on other countries,that is,policy spillover effects. At this time,the international coordination of policies is particularly important. At present,the international coordination of macroprudential policies has not received enough attention. This paper mainly analyzes the international spillover effects of macroprudential policies,introduces the existing ways and problems of international coordination of macroprudential policies,and provides policy suggestions for improving the international coordination of macroprudential policies and maintaining the stability of the world financial market.
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