国际金融业的混业趋势与中国金融的分业体制
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摘要
随着世界经济一体化的发展，分业经营的金融运行模式受到了强烈的冲击，西方一些国家逐渐适应混业经营的潮流，放弃了分业体制，实现了由分业向混业的体制转变。国内的金融业也出现了事实上的混业经营，这对我国现行的金融体制构成了压力。本文回顾了分业和混业两种金融运行模式的形成历史，考察了国际金融和中国金融实行分业制度的实践和现状，研究了金融运行的内在本质联系，指出分业经营是特定时期、特殊历史条件下人为干预金融的产物，尽管在一定的历史阶段在特定的政治、经济环境中有其合理性的一面，但实质上违背了资金融通的市场规律，在经济金融全球化、金融深化的新形势下，其弊端越来越明显，由分业模式向混业模式转换是金融发展的必然选择；金融监管部门应审时度势，建立有弹性的金融监管体系，以满足在混业经营条件下的监管要求；在目前中国金融监管力量仍然相对薄弱、监管手段相对落后、金融机构内控外控机制尚不完善的情况下，尽管分业经营体制仍有其继续存在的必要性，但面国际金融业的混业趋势和国内金融业的混业压力，监管层也应及时地有意识、有计划、有试点地积极推动中国金融业混业经营的发展，以应对国际金融竞争的压力，适应金融对外开放的需要。
Along with the globalization of the world economy, the separated banking operation system is greatly affected. Some western countries have gradually given up this system and transformed to the mixed banking operation system in order to adapt to the business-consolidated trend. The mixed operation trend actually occurs in domestic financial industry, thus exerts pressure on our current banking system. This essay reviews the history of the two banking systems, investigates the practice and the current situation of the separated banking system in the world and in China, and studies the essence of finance. Then it indicates that the separated banking system results from the man-made interference in finance in a special period of time and special historic situation. Although there are some rational factors in this system in some special period of time and in some political and socioeconomic environment, but in substance it goes against the rules of finance operation. In the course of economy globalization and fin
ancial deepening, the defects in the separated banking system are becoming more and more evident. Thus the transformation from the separated banking operation mode to the mixed banking operation mode is a necessary option. The supervisory sector ought to establish opportunely a flexible supervising system to meet the requirements of banking supervision in a situation of mixed banking operation. In China, the existence of the separated banking system is still necessary with the current weak financial supervising strength and the faulty internal control & external control system of domestic financial institutions. However, the supervisory sector should timely and orderly promote the development of banking business-consolidated trend by adopting plot-experimental method in order to deal with the competition from foreign financial institutions and meet the demand for the banking system's opening-up to the world.
Along with the globalization of the world economy, the separated banking operation system is greatly affected. Some western countries have gradually given up this system and transformed to the mixed banking operation system in order to adapt to the business-consolidated trend. The mixed operation trend actually occurs in domestic financial industry, thus exerts pressure on our current banking system. This essay reviews the history of the two banking systems, investigates the practice and the current situation of the separated banking system in the world and in China, and studies the essence of finance. Then it indicates that the separated banking system results from the man-made interference in finance in a special period of time and special historic situation. Although there are some rational factors in this system in some special period of time and in some political and socioeconomic environment, but in substance it goes against the rules of finance operation. In the course of economy globalization and fin
ancial deepening, the defects in the separated banking system are becoming more and more evident. Thus the transformation from the separated banking operation mode to the mixed banking operation mode is a necessary option. The supervisory sector ought to establish opportunely a flexible supervising system to meet the requirements of banking supervision in a situation of mixed banking operation. In China, the existence of the separated banking system is still necessary with the current weak financial supervising strength and the faulty internal control & external control system of domestic financial institutions. However, the supervisory sector should timely and orderly promote the development of banking business-consolidated trend by adopting plot-experimental method in order to deal with the competition from foreign financial institutions and meet the demand for the banking system's opening-up to the world.
引文
[1] 陈云贤．投资银行论(第1版)．北京：北京大学出版社，1995：7～15
[2] 宋逢明，杜莘．关于商业银行和投资银行分业经营制度的再思考．金融研究，2000，(1)：99～106
[4] 王晓明．银行监管——美国的监管体制、内容及方法(第1版)．红旗出版社，1999 37～45
[5] 张长弓，李庆文．从美国《金融服务现代法案》看全球银行体制的变迁．南方金融，2000，(4)：45
[6] 中国人民银行研究局国际金融研究处．主要国家和地区金融业务和监管体系的发展和演变．金融参考，2000，(5)：25
[7] 韩铁林．国际金融混业经营趋势及我国对策．财贸经济，2003，(3)：4
[8] 李鹏程．分业还是混业．金融参考，2000，(2)：15
[9] 吕萍．日本银行混业经营的特点．经济参考报，1／25／2003
[10] 叶辅靖．全能银行所涉及的几个理论问题．国际金融研究，1999，(10)：9
[11] Friedman M, Schwartz A J. Has The Government Any Role in Money?. Journal of Monetary Economics, 1986, (17): 37～62
[12] Kroszner, randall S., "less is More: Limiting the Role of the Government in Financial Development",nov.1995
[13] Kaufman George G. Bank Failures, System Risk, and Bank Regulation. CATO Journal, Spring/Summer, 1996, (16): 17～46
[14] Stiglitz J E, Andrew Weiss. Credit Rationing in Market With Imperfect Information. American Economic Review, 1981, 73(3): 393～410
[15] Berber. What can we get efficiency from the consolidation of banking Services. Federal Reserves Working Paper, 2001
[16] Kaufman George G. And Randall S.kroszner, "How Should Financial Institutions and Markets Be Structured? Analysis and Options for Financial System Design",Dec.1996
[17] Jordi Canals. Universal Banking: International Comparisons and Theoretical Perspectibe. Oxford: Clarendon Press, 1997
[18] 钱弘道．现代金融核心：投资银行产业发展分析(第1版)．北京：经济
科学出版社，2000：31～55
[19] 张兆杰，张悦．美国银行业：审时度势谋发展．金融时报，5／27／2003
[20] 叶辅靖．全能银行比较研究(第1版)．北京：中国金融出版社，2001：20～31
[21] 陈文林．货币问题争论与分析(第1版)．北京：中国金融出版社，1995：62～75
[22] 王柯敬．走向混业经营——迎接入世后金融业面临的挑战．中国金融家网站，5／10／2003
[23] 金立群．新国际金融体制与中国(第1版)．北京：经济科学出版社，2000：123～135
[24] 任映国，徐洪才．投资银行学(第1版)．北京：经济科学出版社，1999：128～133
[25] 李守荣．中国金融体系概论(第1版)．北京：经济管理出版社，1993：151～158
[26] 蔡曙晓．西方金融兼业经营制度演进及对中国金融业的影响．金融研究，2000，(4)：102
[27] 单丹．对我国银行业迈向混业经营的理性思考．银行与经济 2002，(11)：19～21
[28] 汪兴隆．对我国银行、证券分业经营的反思．金融理论与实践，2000，(4)：4
[29] 邓瑛．从国际金融监管发展趋势看我国金融动态监管的框架构建．江西金融职工大学学报，2002，(2)
[30] 俞天一．中国金融运行机制转换研究(第1版)．北京：中国金融出版社，1994
[31] 许克荣，许克海．我国金融业经营体制创新浅析．河北金融，2002，(4)：33
[32] 周树立．中国信托业的选择(第1版)．北京：中国金融出版社，1999
[33] 魏筱智．中国金融监管概论(第1版)．西安：陕西人民出版社，1994
[34] 周道许．金融全球化的金融安全(第1版)．北京：中国金融出版社，2001
[35] “银保”联动欲得“双赢”．股易视点，http://www.stocke.com，11／09／2000
[36] 苑德军．怎样认识和评价资本市场的功能．金融时报，10／27／2001
[37] 吴雪明．我国金融混业经营的战略分析．新金融，2003，(2)：14～17
[38] 孟宗元．我国金融混业经营模式选择研究．内蒙古金融研究，2003，(3)：8～11
[39] 孙英隽．国际银行业并购浪潮对我国银行业的启示．金融时报，11／4／2002
[40] 谢金华，樊云志．浅析金融混业经营的模式选择．银行与经济，2002，(7)：33～35
[2] 宋逢明，杜莘．关于商业银行和投资银行分业经营制度的再思考．金融研究，2000，(1)：99～106
[4] 王晓明．银行监管——美国的监管体制、内容及方法(第1版)．红旗出版社，1999 37～45
[5] 张长弓，李庆文．从美国《金融服务现代法案》看全球银行体制的变迁．南方金融，2000，(4)：45
[6] 中国人民银行研究局国际金融研究处．主要国家和地区金融业务和监管体系的发展和演变．金融参考，2000，(5)：25
[7] 韩铁林．国际金融混业经营趋势及我国对策．财贸经济，2003，(3)：4
[8] 李鹏程．分业还是混业．金融参考，2000，(2)：15
[9] 吕萍．日本银行混业经营的特点．经济参考报，1／25／2003
[10] 叶辅靖．全能银行所涉及的几个理论问题．国际金融研究，1999，(10)：9
[11] Friedman M, Schwartz A J. Has The Government Any Role in Money?. Journal of Monetary Economics, 1986, (17): 37～62
[12] Kroszner, randall S., "less is More: Limiting the Role of the Government in Financial Development",nov.1995
[13] Kaufman George G. Bank Failures, System Risk, and Bank Regulation. CATO Journal, Spring/Summer, 1996, (16): 17～46
[14] Stiglitz J E, Andrew Weiss. Credit Rationing in Market With Imperfect Information. American Economic Review, 1981, 73(3): 393～410
[15] Berber. What can we get efficiency from the consolidation of banking Services. Federal Reserves Working Paper, 2001
[16] Kaufman George G. And Randall S.kroszner, "How Should Financial Institutions and Markets Be Structured? Analysis and Options for Financial System Design",Dec.1996
[17] Jordi Canals. Universal Banking: International Comparisons and Theoretical Perspectibe. Oxford: Clarendon Press, 1997
[18] 钱弘道．现代金融核心：投资银行产业发展分析(第1版)．北京：经济
科学出版社，2000：31～55
[19] 张兆杰，张悦．美国银行业：审时度势谋发展．金融时报，5／27／2003
[20] 叶辅靖．全能银行比较研究(第1版)．北京：中国金融出版社，2001：20～31
[21] 陈文林．货币问题争论与分析(第1版)．北京：中国金融出版社，1995：62～75
[22] 王柯敬．走向混业经营——迎接入世后金融业面临的挑战．中国金融家网站，5／10／2003
[23] 金立群．新国际金融体制与中国(第1版)．北京：经济科学出版社，2000：123～135
[24] 任映国，徐洪才．投资银行学(第1版)．北京：经济科学出版社，1999：128～133
[25] 李守荣．中国金融体系概论(第1版)．北京：经济管理出版社，1993：151～158
[26] 蔡曙晓．西方金融兼业经营制度演进及对中国金融业的影响．金融研究，2000，(4)：102
[27] 单丹．对我国银行业迈向混业经营的理性思考．银行与经济 2002，(11)：19～21
[28] 汪兴隆．对我国银行、证券分业经营的反思．金融理论与实践，2000，(4)：4
[29] 邓瑛．从国际金融监管发展趋势看我国金融动态监管的框架构建．江西金融职工大学学报，2002，(2)
[30] 俞天一．中国金融运行机制转换研究(第1版)．北京：中国金融出版社，1994
[31] 许克荣，许克海．我国金融业经营体制创新浅析．河北金融，2002，(4)：33
[32] 周树立．中国信托业的选择(第1版)．北京：中国金融出版社，1999
[33] 魏筱智．中国金融监管概论(第1版)．西安：陕西人民出版社，1994
[34] 周道许．金融全球化的金融安全(第1版)．北京：中国金融出版社，2001
[35] “银保”联动欲得“双赢”．股易视点，http://www.stocke.com，11／09／2000
[36] 苑德军．怎样认识和评价资本市场的功能．金融时报，10／27／2001
[37] 吴雪明．我国金融混业经营的战略分析．新金融，2003，(2)：14～17
[38] 孟宗元．我国金融混业经营模式选择研究．内蒙古金融研究，2003，(3)：8～11
[39] 孙英隽．国际银行业并购浪潮对我国银行业的启示．金融时报，11／4／2002
[40] 谢金华，樊云志．浅析金融混业经营的模式选择．银行与经济，2002，(7)：33～35