SYSTEMIC RISKS AND THE LEGALIZATION OF ACCOUNTABLE TRANSNATIONAL FINANCIAL REGULATION  

作　　者：郭华春 廖凡 

机构地区：[1]Ph.D and Assistant Researcher, at the Institute of Science, East China University of Political Science and Law, Shanghai, China [2]Ph.D and Associate Researcher, at the Institute of International Law, Chinese Academy of Social Sciences, Beijing, China

出　　处：《Frontiers of Law in China-Selected Publications from Chinese Universities》2013年第4期834-856,共23页中国高等学校学术文摘·法学（英文版）

基　　金：This paper was funded by the Youth Foundation of Humanities and Social Sciences of the Ministry of Education of China （13YJC820028）, by Shanghai Philosophy and Social Sciences Research Project （2012BFX008）, and by China Postdoctoral Science Foundation （2012M511070）, and by China Postdoctoral Science Special Foundation （2013T60433）.

摘　　要：Transnational spillovers of systemic risks show that financial regulation is not simply a sovereign power, it also shall be responsible to other states and individuals. Regulatory cooperation is necessary to ensure responsibility. Current arrangements dealing with the financial crisis mainly focus on technical problems, and ignore the accountability mechanism of financial regulation. Such arrangements cannot effectively regulate systemic risks in the long run. This paper argues that accountable financial regulation and its legalization is an essential part of solutions to systemic risks, and suggests the ways to legalize accountable financial regulation.Transnational spillovers of systemic risks show that financial regulation is not simply a sovereign power, it also shall be responsible to other states and individuals. Regulatory cooperation is necessary to ensure responsibility. Current arrangements dealing with the financial crisis mainly focus on technical problems, and ignore the accountability mechanism of financial regulation. Such arrangements cannot effectively regulate systemic risks in the long run. This paper argues that accountable financial regulation and its legalization is an essential part of solutions to systemic risks, and suggests the ways to legalize accountable financial regulation.

分 类 号：F832.1[经济管理—金融学] N94[自然科学总论—系统科学]