Research On The Issue Of Legal Regulation On The Hot Money

Under the tendency of economic globalization, the International Monetary Fund is devoting to advocate the liberalization of current account and capital account. Under the background of the financial globalization and liberalization, the expansion of the hot money is accelerating.International academic research on the hot money has started very early. Since the Southeast Asian financial crisis occurred in 1997, more and more researchers focused on the topic of international impact of the hot money. With China's economic development and the rapid growth of export trade, the issue of hot money has caused extensive concern...Although the Chinese capital has not been fully convertible, the potential market in China has been concerned by the hot money. A large number of international financial capitals has poured into Chinese market through various channels. We must improve the legal regulation on the hot money to protect the stability of the domestic financial system.Based on the principles of law and economics, this thesis attempts to study the national regulation and international cooperation by the method of comparative analysis, and then draws the experiences to improve the legal regulation on the hot money in china.This thesis consists of five parts: The first part introduces the basic principles of the hot money, including the concept, forms of existence, the main characteristics, the positive effects and negative effects of hot money. The second part mainly introduces the legal regulatory mechanism on hot money in different countries. Firstly, this part discusses the theoretical and realistic basis of national legal regulation on hot money. Then, five regulatory measures, including tax collection, unremunerated required reserves, direct restrictive measures, permission system are described. The third part presents the international regulatory cooperation, discussing the necessarity of the international cooperation, and describing the regulation and cooperation under the Agreement of the International Monetary Fund and Capital Agreement of new Basel. The fourth part presents the current situation of the hot money in China. The fifth part makes suggestions on the tax law, the administrative law of foreign exchange, the banking law, and the administrative law of customs in order to enhance the ability of regulation on the hot money.This thesis, based on the overall analysis of the hot money, emphasizes the importance of domestic legal regulation and international cooperation, finally, raises advice for legal regulation on hot money of China, which is significant for study about the hot money in the future.