契约关系下的第三方网络支付信用风险研究

摘要

The credit risks of third-party online payment become increasingly significant,which dama-ges all the parties'interest and increases the difficulty of risk supervision.From the perspective of In-stitutional Economics,this article constructs an index system and reveals two points in the analysis. First,the legal system factor,the history of users'credit,the security of financial transactions,and handling of precipitation funds exert relatively large influence on the credit risks;second,the interest balancing indicators generally show lower impacts.To guard against the credit risks in China,this ar-ticle proposes a number of measures.First,regulation ideas should be innovated and a unified credit system of power and responsibility must be constructed;second,the efficiency of supervision should be improved by amplifying its influence;and third,an incentive-compatible dynamic mechanism should be designed.%我国第三方网络支付存在的信用风险逐渐显现，这既造成了交易各方的利益损失，也增大了风险监管的难度。基于制度经济学的视角，通过构建指标体系进行分析，得出法律制度因素、用户信用记录、交易资金安全性和沉淀资金处理情况对第三方网络支付的信用风险影响相对较大，利益权衡类指标普遍影响偏低。因此，我国信用风险防范亟需创新管制思路，构建权责统一的信用体系；发挥信号传递作用，提高监管效率；设计激励相容的动态机制。