摘要
长期以来,市场主导与银行主导的二分法成为研究金融制度和金融结构差异的基本范式,但在这一范式指导下形成的众多理论却难以对以中国为代表的诸多发展中国家的金融结构与经济绩效做出令人信服的解释。事实上,在政府主导型的发展中国家,金融服务是由国家提供还是由市场提供是一个更为根本和实质的问题。若追溯金融机构的起源,则不可避免地涉及金融体系的内生和外生问题。本文通过对内生性金融和外生性金融的划分,研究了内生性金融成长的逻辑起点、动力机制、演进边界及其动态历程,并在理论上刻画了以内生金融和外生金融相对规模为核心的中国金融结构的动态演进过程。
For a long time, market-based and bank-based dichotomy has become a basic paradigm for studying differences in financial systems and financial structures,but it is difficult to make a compelling explanation of the financial structure and economic performance of many developing countries represented by China under the guidance of this paradigm. In fact, in government-dominated developing countries, financial services are provided by the state or the market is a more fundamental and substantive issue. If the origin of financial institutions is traced back, it will inevitably involve the endogenous and exogenous problems of the financial system. In this paper, through the division of endogenous finance and exogenous finance,studies the logical starting point, dynamic mechanism, evolution boundary and dynamic course of endogenous financial growth, and theoretically portrays the dynamic evolution of China’s financial structure that is defined as the relative size of endogenous finance and exogenous finance.
出处
《制度经济学研究》
CSSCI
2018年第2期130-162,共33页
Research on Institutional Economics
关键词
内生性金融
外生性金融
金融结构
动态演进
国家效用函数
Endogenous Financial
Exogenous Financial
Financial Structure
Dynamic Evolution
National Utility Function
