Abstract: Although the compound growth rate of shadow banking of traditional financial institution is 39.2%, which is almost 8 points higher than that of other types of financial intermediaries, there are few researches on the impact that financial structure has on the evolution, dimension and measurement of shadow banking. Therefore, by drawing parallel between U.S. and China, this paper builds a progressive frame of shadow banking on consideration of financial structure and analyzes its measurement under different dimensions. Finally, it provides the corresponding government strategies.

摘要： 2006-2013年，我国体系内影子银行规模的复合增长率为39.2%,远高于体系外31.7%的增速。尽管银行等传统金融中介在中国影子银行体系的演变过程中承担了重要角色，但有关中国影子银行演变机理、体系结构及规模测算的研究却始终脱离金融结构这一核心特征。本文通过比较分析，以金融结构为线索，构建了影子银行的递进式分层框架，并对各层次中的主要业务进行了梳理、分类及规模测算。最后，结合各口径规模特征及其差异给出了相应的监管导向与对策建议。