金融資源的市場配置與國家調節——論「三三理論」在金融市場的應用

Market Allocation and Country Regulation of Financial Resources – The Application of “State Regulation Theory” in Financial Market

近年來金融的快速發展甚至開始脫離實體經濟以虛擬的形態運行，使人們認識到金融的資源屬性。金融不再僅僅是單純的符號、服務、仲介，而是人類社會一切資財之源，是核心性資源，是需要獨立配置的領域。按照三三理論，市場在配置金融資源的過程中存在三個缺陷：市場障礙與風險，市場唯利性，市場宏觀運行不穩；國家針對市場缺陷分別採取三種方式：金融市場競爭規制與金融監管，興辦政策性金融機構，金融調控。金融領域國家調節與市場配置的關係不是相互替代，而是互相配合。國家調節與市場配置的配合具體在基礎性金融資源、機構性金融資源和金融商品資源三個層面展開。

The finance develops pretty rapidly recent years， and even operates away from real economy. And this makes peoples realize that finance is no longer just a simple symbol， services， capital and goods， but the core source of all the riches of human society， the core resource that need to be allocated independently. There are three defects during the Market allocation of financial resources： market barriers and risks， Profit-oriented market， market instability. Country takes three measures to deal with these defects： competition regulation of financial markets and financial supervision， establish policy-oriented financial institutions， financial regulation. The relationship between government regulation and market allocation is co-operative， and they work together in three levels： basic financial resources， institutional financial resources and financial commodity resources expand.