对金融创新经济效应的若干思考  

On the Economic Effect of Financial Innovation

作　　者：胡海峰[1] 罗惠良[1] 

机构地区：[1]北京师范大学经济与工商管理学院,北京100875

出　　处：《教学与研究》2009年第6期41-47,共7页Teaching and Research

基　　金：国家社科基金项目"多层次资本市场建设及监管问题研究"(项目编号:05BJL026)的阶段性成果

摘　　要：金融创新是一把双刃剑。金融创新既有提高效率、丰富金融工具品种,促进金融市场一体化、推动金融改革、促进经济发展等正面经济效应,又会产生金融系统稳定性下降、金融系统性风险增加、金融监管效力下降、货币政策工具失灵、金融危机传染性增强等负面经济效应。鉴于此,世界各国要在加强金融监管、建立危机预警系统和提高货币政策有效性的前提下,努力扩大国际合作,妥善应对金融创新的负效应。Financial innovation is a double-edged sword. On the one hand, it may have the positive effect of raising the efficiency, enriching the financial instrument, promoting unification of the financial market, contributing to financial reform and promoting economic development. On the other hand, it may also leave the negative effect of reducing stability of the financial system, increasing the risk of financial system, lowering financial monitoring capacity, dysfunctioning of the monetary policy, and endangering the infection of financial crisis. Therefore, it is necessary that world-wide efforts be made to expand international cooperation and properly deal with the negative effect of financial innovation by means of strengthening financial monitoring, establishing crisis early warning system and raising the effectiveness of monetary policies.

关 键 词：金融创新 金融系统 风险 效率 

分 类 号：F831[经济管理—金融学]