The Evolution Of Western Theory And Practice Of Financial Regulation And Enlightenment

The sub prime mortgage crisis and the global financial crisis triggered by it wascalled one of the worst in the history of the world economic crisis, which caused greatdamage to the global economy. The economic crisis was the result of political,economic, institutional and other factors. Lack of regulation of the financial systemwas an important reason that the economic crisis broke out. Not only did the financialcrisis cause serious damage to the financial system and real economy, but also it fullyexposed the flaws and problems of the theory and practice of financial regulation.The experiences and lessons of the financial regulation is scattered in a typicalcase of the national regulators, cross-border supervision and supervisory cooperation,which makes systematic summary and finishing necessary. In the post financial crisisperiod, we have to pay more attention to explore and reflect on the financialregulation to prevent the recurrence of the second financial crisis. This paper selectedthe United States, Britain and Japan, the EU and the G20representative as typicalnations and international organizations respectively. Based on a combination ofliterature and comparative analysis, a combination of static analysis and dynamicanalysis methods, the paper discussed development and changes in financialregulation and supervision of the West firstly, and then described the history of thefinancial regulatory practice as well as the concept of financial regulation and reformof the typical nations, regions, international organizations in the post-crisis. Finally,based on the analysis of the China’s financial regulatory system, the history of thepractice and the in-depth analysis of the status quo, the paper brought out specificpolicy recommendations for China’s financial regulatory reform.This paper is divided into six parts:In the first part, the paper firstly pointed out the background and significance ofthe topics, then summarized the domestic and foreign financial regulatory researchdetail, and concludes with a research method, thesis framework as well as innovative and inadequacies.literature, finally summarized research approach, thesis frameworkas well as innovative and inadequacies.In the part Ⅱ, firstly introduced the theoretical basis of financial regulation, andthen systematically expounded the historical evolution of Western financialregulation, and finally introduced the financial regulatory and financial regulatorymodel. This part laid the theoretical basis for the full text of the study.The third part was devoted to analysis the financial regulatory history, currentsituation, and post-crisis era of financial regulation reform initiatives of the UnitedStates, Britain, Japan, and the implications for China.part IV presented the analysis of financial regulatory practice as well as financialregulatory reform of the post-crisis era in the EU and the G20, and the implicationsfor China.part five, in the analysis of the history and current status of China’s financialregulatory crisis and the summary of the new financial regulatory reform trends in theWest, the paper brought out five specific policy proposals: transform the concept offinancial supervision, reform financial regulation mode, implement the financialregulatory reform measures, improve the financial regulatory laws system, and adaptto the international financial regulatory cooperation.part Ⅵ was the conclusion part of this article.