摘要
本文通过对山东省泰安市城市信用社重组案例的研究 ,分析了地方政府参与地方性金融风险化解的福利经济学后果。本文的结论如下 :第一 ,在现实成本与效益分析的前提下 ,政府作为拥有行政、司法和经济三大资源调配功能的强力组织 ,参与金融风险化解可以增进金融稳定乃至社会稳定。第二 ,合并重组严格优于破产 ,但是 ,市场力量往往造成哄抢效应 。
This paper studies reconstruction of Tai'an Urban Credit Cooperatives in Shangdong province, analyzing the welfare economic consequence of local government participation in financial institution bankruptcy cases. Major conclusions are as follows. First, given the targets of financial and social stability, government participation is a cost minimization and efficiency maximization choice, since it is endowed with administrative, judicial and economic power. Second, reconstruction is strictly preferred than bankruptcy, and market-based financial risk resolution usually leads to herd effect.
出处
《金融研究》
CSSCI
北大核心
2003年第1期120-124,共5页
Journal of Financial Research
关键词
社会效率
泰安市
城市信用社
法人治理结构
金融风险
金融机构重组
政府参与
financial risk resolution, financial institution reconstruction, UCCs, local government participationKey words: monetary policy, micro monetary transmission
