我國金融監管制度供給過剩的法經濟學分析

Law and Economics Analysis of the Oversupply of Financial Regulatory System in China

中國金融監管存在顯著的制度供給過剩。金融監管制度供給過剩會增加交易成本，不符合效率原則。從法經濟學的角度分析，中國金融監管制度供給過剩的原因在於金融監管供給與需求不匹配、權力監管模式下監管機關的粗放型制度供給以及金融監管的行政化。改變金融監管制度供給過剩的狀況，應當引入金融監管的成本收益理念和問責機制，將金融監管由權力監管向市場化監管轉變，並合理處理金融創新與金融監管的關係。

A significant oversupply of financial regulation system exists in China. The oversupply of system increases transaction costs, which is not in conformity with the principle of efficiency. From the perspective of law and economics, the oversupply of system results from the unbalance between supply and demand of financial regulation, extensive system supply under the authority regulation mode, as well as excessive intervention for the financial market and administrative regulation. To change the present situation of the oversupply, the cost-benefit concept of financial regulation and the accountability mechanism should be introduced to shift the financial regulation from authority supervision to market supervision. Additionally, the relationship between the financial innovation and financial regulation should be reasonably handled.