运用监管科技促进互联网金融均衡规制——以P2P网贷市场准入规制为例的研究  

Using Regulatory Technology to Promote Balanced Regulations for Internet Finance:Taking the Access Regulation of P2P Lending as an Example

作　　者：唐士亚 TANG Shi-ya(Koguan Law School,Shanghai Jiao Tong University, Shanghai 200030,China)

机构地区：[1]上海交通大学凯原法学院,上海200030

出　　处：《商业研究》2018年第12期57-63,共7页Commercial Research

基　　金：国家社科基金项目"我国互联网金融市场准入与监管法制重大理论与实践问题研究";项目编号:16BFX098

摘　　要：互联网金融规制中存在着具有价值判断和目标属性上差异的金融创新与金融稳定两大基本目标。在当前互联网金融市场"强监管"背景下,金融稳定成为高于金融创新的首要价值选择,但这种政策规制目标的冲突常常使规制陷入"金融创新-金融稳定"周期性的目标反复循环困境中,其中很大程度上是受到规制目标设定的科学限度、规制制度安排的完善程度和规制工具选择的合理程度的影响。利用互联网金融"目标-内容-工具"规制框架分析我国P2P网贷市场准入制度及案例,说明在规制目标选择、央地制度供给和规制工具运用方面存在着不均衡状况,抑制了P2P网贷市场的金融创新,且P2P网贷市场准入制度并未实现有效维护金融稳定的作用。为突破规制困境,应将监管机构和互联网金融企业纳入监管科技的框架中,构建一个兼顾金融创新和金融稳定的风险防范机制。Internet finance regulations have two basic purposes:financial innovation and financial stability,and the two basic purposes are different in value judgment and target attribute.Under current background of“strong regulation”in the Internet financial market,financial stability has become the primary value selection prior to the financial innovation,however,the conflicts between such policy regulation purposes often make the regulators fall in the cycle of periodic purpose conflicts of“financial innovation-financial stability”.Financial innovation and financial stability in the Internet finance are affected by the scientific limits of regulatory purposes,the perfection of regulatory arrangements and the rationality of regulatory tools selection.Internet finance regulatory frame of“target-content-tool”is applied to analyze the access regulation of P2P lending and it′s found that there are imbalances in the selection of regulation target,support of central government and local policies,as well as the application of regulatory tools,these imbalances have restrained the financial innovation of P2P lending market.Moreover,the access regulation of P2P lending market fails to realize the effect of maintaining financial stability.To break through the dilemma of regulation,regulators and Internet finance companies should be included in the framework of regulatory technology to build a risk prevention mechanism that takes into account financial innovation and financial stability.

关 键 词：互联网金融 金融创新 金融稳定 监管科技 

分 类 号：DF438[政治法律—经济法学]