CAJ | 학술논문

由美国次贷危机引发的全球性金融危机使影子银行成为全球关注的焦点。影子银行体系是对传统银行体系的有益补充，使金融体系走向多元化和市场化。近年来，我国的影子银行规模逐渐增大，呈现爆发式增长。但是，影子银行使我国的货币政策有效性大打折扣，对我国金融体系的稳定性造成一定的冲击。为防范影子银行金融风险，我国应该完善监管体系；适当调整货币政策，增大货币供应量的监测范围；加强金融稳定性监测，建立风险应急机制；适当进行金融创新，积极推进利率市场化改革。
유미국차대위궤인발적전구성금융위궤사영자은행성위전구관주적초점。영자은행체계시대전통은행체계적유익보충，사금융체계주향다원화화시장화。근년래，아국적영자은행규모축점증대，정현폭발식증장。단시，영자은행사아국적화폐정책유효성대타절구，대아국금융체계적은정성조성일정적충격。위방범영자은행금융풍험，아국응해완선감관체계；괄당조정화폐정책，증대화폐공응량적감측범위；가강금융은정성감측，건립풍험응급궤제；괄당진행금융창신，적겁추진리솔시장화개혁。
The global financial crisis triggered by U. S. subprime mortgage crisis has made shadow banking become the focus of the whole world. Shadow banking system is a beneficial supplement to traditional banking system,accelerating the diversity and marketization of the financial system. In recent years,with its scale gradually increasing,shadow banking has presented an explosive growth in China. However,the shadow banking with Chinese characteristics has considerably counteracted the effectiveness of our country’s monetary policy and had some negative impact on the stability of our financial system. In order to prevent financial risks caused by shadow banking,China should perfect its regulation system and adjust its monetary policy. The scope of monitoring money supply should be appropriately extended,the monitoring of financial stability be en-hanced and risk emergency mechanism be established;financial innovation should be encouraged properly and market-oriented reforms of interest rate be promoted actively.