美联储金融状况指数的编制对中国的启示  

The Enlightenment of the Compilation of the Federal Reserve's Financial Situation Index to China

作　　者：惠旭婧 郇志坚[2] Hui Xujing;Huan Zhijian(School of Finance,Xinjiang University of Finance and Economics;Xinjiang Uygur Autonomous Region Branch,the People's Bank of China)

机构地区：[1]新疆财经大学金融学院 [2]中国人民银行新疆维吾尔自治区分行

出　　处：《金融发展评论》2024年第12期76-92,共17页Financial Development Review

摘　　要：在当前经济环境下,我国经济的金融化程度日益加深,金融波动或风险非常容易蔓延至经济,因此金融的稳定性对整体经济的健康发展至关重要。金融状况指数(Financial Conditions Index, FCI)作为评估金融稳定性的工具起着关键性作用。本文剖析了四个美联储的金融状况指数,分别对各个指数的含义、指数的构建方法、指标的选取等方面进行详细介绍,并就指数的优缺点加以评述。中国的金融状况指数可通过吸取美联储的金融状况指数的长处,并结合中国金融市场的实际情况进行改进和优化,从而提高其准确性和实用性,为金融稳定提供更有价值的参考。In the current economic environment,the degree of financialization in China's economy is in⁃creasingly deepening,and financial fluctuations or risks are very likely to spread to the economy.There⁃fore,financial stability is crucial for the healthy development of the overall economy.The Financial Con⁃ditions Index(FCI)plays a crucial role as a tool for assessing financial stability.This article analyzes four financial condition indices of the Federal Reserve,providing a detailed introduction to the meanings,construction methods,and selection of indicators for each index.It also evaluates the advantages and dis⁃advantages of each index.China's financial condition index can be improved and optimized by drawing on the strengths of the Federal Reserve's financial condition index and combining it with the actual situation of the Chinese financial market,thereby enhancing its accuracy and practicality,and providing more val⁃uable references for financial stability.

关 键 词：金融状况指数 金融压力指数 货币政策 

分 类 号：F837.12[经济管理—金融学] F832