中国金融业经营体制的选择研究

【作者】 陈瑛；

【导师】 祝炳奎；

【作者基本信息】 湖南大学 ， 金融学， 2003， 硕士

【摘要】 论文探讨的是金融业经营体制的选择问题。作为现代经济发展的重要支柱的金融业，其业务经营体制无疑是金融业和整体经济发展的关键。因此，选择何种金融业经营体制——分业经营体制或混业经营体制，既是各国金融业发展的核心问题，也是理论界争论的热点问题。其中最主要和最有影响的理论有风险效率假说、制度变迁供求假说和资产专用性假说，它们为金融业经营体制的选择提供了理论支撑。对金融业经营体制的成本效应分析表明，混业经营体制对分业经营体制的替代是一个渐进的过程，但混业经营体制是金融业发展的必然趋势。 论文从国际金融的角度回顾了各国在金融业经营体制选择上的实践，特别是德国、美国和日本等国金融业经营体制演进的历程，历史表明分业经营体制只是国家采取的一种应急补救的措施，而混业经营体制才是金融业发展的内在制度需求和必然选择。这对我国金融业经营体制的选择具有很强的借鉴意义。 目前，中国金融业总体上实行的是分业经营体制，这在一定程度上促进了我国金融业的稳定和发展，但也面临着许多问题，主要是不利于我国金融机构国际竞争力的提高。为了更好地促进我国金融业的发展和竞争能力的提高，我国迫切需要实行混业经营体制；并且随着我国经济金融的发展和改革的深化，我国向混业经营体制过渡的条件不断得到完善。因此，本文在借鉴西方国家金融业经营体制变迁的国际经验和对我国现实情况进行研究的基础上，认为金融控股公司模式是适合我国国情的混业经营模式，提出了我国金融业走向混业经营体制的总体战略，主张以“两梯次，三步走过渡”的战略安排向混业经营体制过渡，同时进行相应的金融监管改革。更多还原

【Abstract】 This paper discusses the selection of the financial operation system. Due to the role of financial industry on the economic development, it is of vital importance to select the operation of the financial system. Therefore how to choose between the separated and mixed operation system is not only a key problem in the development of financial industry but also a heated question disputed in the theoretical field. There have several theories about it such as hypothesis of risk and efficiency, hypothesis of supply and demand of system transformation, hypothesis of asset specificity, which form the fundamentals for t he se lection. Based on the cost-benefit analysis of the financial operation system, it shows that the mixed operation system will progressively substitute for the separated one, and the former will be the trend.We review the practice of international finance on the choice of financial operation system, especially the history and the process of Germany, US and Japan, and the history shows the separated operation system is just an emergency measure made by government. In fact only the mixed one is the necessary demand for institution and it is the necessary choice. And it is very significant for the choice of china’s operation system to get experience for reference.Nowadays, China’s financial industry as a whole carries out the separated operation system. It promotes the development of China’s financial industry to a certain extent, but it also does harm to the competitive ability of Chinese financial setups. To develop China’s financial industry and to improve it’s competitive ability, it is an urgent need for China to bring into effect the mixed operation system. Therefore, t hrough u se o f t he e xperience o f w estern c ountries a nd analysis o f o ur present situation, this paper points out that the model of financial holding company of mixed business operation is suitable to China’s Reality, and suggests that China’s financial industry should take the strategy of working towards the mixed operation system, and to make the related reform on financial supervision.更多还原