影子银行的成因及其对货币政策的影响研究摘要:自2007年起,有着“地下金融暗河”称谓的影子银行露出了其隐藏已久的真面貌。只因为影子银行作为反派主演在整个全球的经济金融的舞台上演了一出戏--美国的次贷危机(进而发展成为世界性的经济危机),其破坏力之大,只能用可怕形容。可以这么说,没有影子银行系统就没有美国的次贷危机,也就不会造成企业银行的倒闭抑或民不聊生的惨状。从世界看中国,从美国的影子银行看中国的影子银行,诸多专家学者在研究上已取得了不小的成果。总体看来,中国的影子银行与美国的影子银行是存在差别的,不论是规模上还是广泛的运行机制上,这可以从中国经济金融业的自主性和市场运行体系的自由行甚至国家的主导政策找到原因。从而其对当前中国的经济金融体系的作用与影响,以及对未来其发展趋势(就美国次贷危机而言)也应使用不同的思维方式来解答和特殊的监督管理手段来操作。本文就是在这样的理论模式下,通过对近年来与影子银行相关(如社会融资规模等)的真实数据进行分析,并结合一些专家学者做出的较理想的分析模型,以及个人的多方面搜索考察等,以一种半创新的形式表达了影子银行对我国经济安全的影响:存在于中国的影子银行,规模较大,近一半以上。从微观(如银行体系、证券体系、保险体系甚至个人)上看,影子银行的影响利大于弊,然而,从宏观(整个国家的经济)上看,弊大于利,至少存在着一定的系统系风险。本文旨在通过对影子银行对货币政策的研究,发现具体影响和提出相关建议。关键词:影子银行;成因;货币政策;影响ITheCausesofShadowBankingandItsImpactonMonetaryPolicyMajorFinancialEngineeringStudentSupervisorAbstract:Since2007,theshadowbankwiththetitleof"undergroundfinancialundergroundriver"hasrevealeditshiddentruefaceforalongtime.Justbecausetheshadowbankingasavillainintheworld'seconomicandfinancialstagestagedaplay-thesubprimecrisisintheUnitedStates(andthendevelopedintoaworldwideeconomiccrisis),itsdestructivepower,canonlybedescribedinaterribleway.Sotospeak,withouttheshadowbankingsystem,therewouldbenosubprimecrisisintheUnitedStates,alsowon'tcausethecollapseofcorporatebanksorpeopledon'tliveinhorror.FromtheworldtoseeChina,fromtheshadowbankoftheUnitedStatestoseeChina'sshadowbank,manyexpertsandscholarshavemadegreatachievementsinresearch.Onthewhole,thereisadifferencebetweenChina'sshadowbankingandAmerica'sshadowbanking,whetherinscaleorextensiveoperationmechanism,whichcanbefoundfromtheautonomyofChina'seconomicandfinancialindustryandthemarketoperationsystemofthefreelineandeventheleadingpolicyofthestate.Therefore,itsfunctionandinfluenceonChina'scurrenteconomicandfinancialsystem,aswellasitsdevelopmenttrendinthefuture(asfarasthesubprimemortgagecrisisintheUnitedStatesisconcerned)shouldalsousedifferentwaysofthinkingtoanswerandspecialmeansofsupervisionandmanagementtooperate.Thispaperisinsuchatheoreticalmodel,throughtheanalysisoftherealdatarelatedtoshadowbankinginrecentyears(suchassocialfinancingscale,etc.),combinedwithsomeexpertsandscholarstomaketheidealanalysismodel,aswellaspersonalsearchandinspectioninmanyaspects,inasemi-innovativeformtoexpresstheIIshadowbankingimpactonChina'seconomicsecurity:shadowbankinginChina,largescale,nearlymorethanhalf.Fromthemicropointofview(suchasbankingsystem,securitiessystem,insurancesystemandevenindividuals),shadowbankinginfluencemoreadvantagesthandisadvantages,however,fromthemacropointofview(thewholecountry'seconomy),disadvantagesthanadvantages,atleastthereisacertainsystemofrisk.Thepurposeofthispaperistofindoutthespecificimpactandputforwardrelevantsuggestionsthroughthestudyofshadowbankingonmonetarypolicy.Keywords:shad...