论文部分内容阅读
金融结构变迁的动因可归结为市场诱致和政府推动。市场诱致金融结构变迁是因为金融结构对经济发展的响应、金融企业追逐利润的本性和竞争淘汰机制的存在,政府推动是因实现“追赶战略”和克服“市场失灵”而介入金融结构变迁。从微观角度看,市场力量诱致金融结构变迁通过投资者对金融产品的选择得以实现,金融产品之间的马歇尔需求交叉弹性决定了金融结构变迁的强度;政府力量通过制度结构变迁对单个金融企业的激励和抑制效应推动金融结构变迁。
The motivation for changes in the financial structure can be attributed to market-induced and government-driven. Market-induced changes in the financial structure are due to the response of the financial structure to economic development, the nature of chasing profits by financial enterprises and the existence of a competitive elimination mechanism. The government’s promotion is intervened in the financial industry by realizing “catch-up strategy” and overcoming “market failure” Structural changes. From the microscopic point of view, the market forces lead to the change of financial structure through the investors’ choice of financial products. The cross-elasticity of the demand of the Marshall financial products determines the strength of the financial structure change. The government power changes the institutional structure to the single financial enterprise Incentive and Inhibition Effects Promote Changes in Financial Structure.