從政策工具觀點看台灣兩次金融改革

本研究以政策工具理論為研究理論基礎，並以兩次金融改革政策為個案研究的對象，主要是探討政府在兩次金融改革政策中使用了那些政策工具，進而分析政府在使用這些政策工具是否合適。透過個案分析的方式，使理論與實務互相結合，將理論所建構之選擇標準應用至金融產業的分析上；並於提出政策建議，讓政府政策的推動與政策工具的執行，能有效解決當前國內金融控股公司所面臨的問題。由政策工具理論之分析可得知，政府在運用政策工具方面，依據Howlett和Ramesh的政策工具光譜模型，並以「政策次級體系複雜度」與「國家能力高低度」來考量當時的情況去運用政策工具。而以政策實施的階段來看，就整體階段而言，政府主要使用政策工具還是以混合性工具及強制性工具為主。若從政策標的對象來看，政府對於十二家公股金融機構，採用的政策工具是主要是以混合性工具跟強制性工具為主。對於民營的金融機構，採用的政策工具主要是以混合性工具為主，自願性工具與強制性工具為輔。對於兩次金融改革政策，政府的立意是良善的，但是訂立的目標與執行的方法是有檢討與改進的空間。譬如，四大目標之一要在2005年年底公股金融機構減半，這樣的限時、限量的政策目標，在執行上是不夠彈性的，所以導致政府在第二次金改後期所使用的政策工具無法完全有效達成政策目標。由此可知，限時、限量目標應該是逐步地慢慢地進行，並非強求一步到位。建議政府未來在政策執行做法上，應該在尊重市場機制前提之下，以自願性工具為主，混合性工具為輔，必要時再滲入強制性工具的搭配組合方式來制訂限時、限量的政策目標。並應參考其他實行金改政策的國家如:美國、英國、日本等，對於金融機構併購的政策制訂做法與方式下，針對他國執行過程的優缺點去做政策工具的調整，如此政策工具就更能有效達成政策目標。

關鍵字

政策工具；兩次金融改革；金融控股公司；併購

並列摘要

The research in question, a case study having its theoretical grounds set on policy instrument theories and aiming at the two-step financial reform policies, is mainly to highlight the policy instruments opted for by the government in its two-step financial reform before evaluating appropriateness of the same. The case study combines both the theories and practices before applying the criteria erected by the theories on financial industry analyses. By producing political proposals, both government policies and policy approaches being implemented could result in effectively solving the problems local financial holding companies are dealing with at this time. The theoretical analyses of policy instruments have made it clear that the policy instruments opted for by the government come mainly based on the spectrum model created by Howlett and Ramesh. On the other hand, Complexity of Subordinate Political Systems and National Capability Degree are taken as criteria for introduction of policy approaches. However, in terms of policy implementation, throughout the practice, hybrid and forcible tools remain as key players in the government operations practiced on the twelve financial institutions having major government participations. As of the private financial institutions, hybrid tolls prevail as voluntary and forcible ones serve as secondary ones. Though a fine initiative launched by the government, both the objectives and implementation methods set for the two-step financial report are yet to be properly reviewed for improvement. For instance, one of the four major objectives is to cut the financial institutions having major government participations by half by the end of 2005 is viewed as a poorly prepared one for its tight timing, restrained policy objectives that make successful implementation inaccessible for less flexibility, reason why the policy instruments implemented by the government in the last period of its second financial reform failed to meet the policy objectives. Accordingly, timely and quantitative objects should be orderly and slowly implemented rather than being achieved in one operation. The government is suggested to honor the market systems by weighing more voluntary approaches and having hybrid approaches as secondary ones and, when necessary, launching timely and quantitative objects by incorporating forcible approaches. Further, financial reform policies implemented by other countries, namely, U.S., United Kingdom and Japan among others, shall be taken as reference. Appropriate practices and manners for mergers of financial institutions shall allow adjustments resulting in retaining the advantages and eliminating the defects; by doing so, the policy instruments would more effectively meet the objectives.

並列關鍵字

Policy Instruments ； Two Steps of Financial Reform ； Financial Holding Company ； Mergers and Acquisitions

參考文獻

行政院金融督監管理委員會 (2006），《行政院金融督監管理委員會九十四年年報》，臺北:行政院金融督監管理委員會。

林蒼祥（2004），〈從金控公司提高我國金融國際競爭力〉，《國家政策季刊》，第3卷第4期：29-38。

郭大維（2008），〈論我國金融機構公司治理之強化〉，《臺灣金融財務季刊》，第9輯第4期：47-62。

李心信（2003），《基隆市政府課程管理之研究:以實施九年一貫課程為例》，國立

蔣佳雯（2002），《基因資訊運用管制政策工具之研究》，國立政治大學公共行政研究所碩士論文。

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從政策工具觀點看台灣兩次金融改革

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