中国经济增长的金融制度原因：主流文献的讨论  

Relationship between Financial Institutions and the Economic Growth in China:A Survey of the Mainstream Literature

作　　者：张杰[1,2] 

机构地区：[1]中国人民大学财政金融学院 [2]中国财政金融政策研究中心

出　　处：《金融评论》2010年第5期1-7,共7页Chinese Review of Financial Studies

基　　金：2007年度国家社会科学基金重点项目“科学发展观与新时期深化中国金融体制改革的政策选择”(项目批准号:07AJY015);“十一五”国家科技支撑计划(项目批准号:2006BAJ07B01);中国人民大学重大基础研究计划项目“金融分析的制度范式与制度金融学”的支持

摘　　要：经济改革开放以来,主流文献对中国经济增长的金融制度机理多有阐发。McKinnon发现了中国金融改革方式选择的特殊性,借助"金融剩余"、"金融控制"等概念,他勾画了"金融支持型"经济增长的大致轮廓,世界银行和Maddison则分别通过强调"初始条件"和居民储蓄的重要性而佐证了上述观点。一些文献对经济改革中银行体系的制度结构与行为方式有所刻画,它们发现,在中国经济改革过程中,银行体系的高不良贷款、高盈利、高流动性与经济的高增长长期并存不悖。另外一些文献进一步觉察到,在国家财政收入下降的情况下,依赖金融方式实现巨额债务融资构成改革中经济高速增长的关键。邹至庄与陈志武等华裔主流学者则试图深入到历史文化层面探究中国经济改革过程的金融制度机理。Since the economic reform,mainstream literature has done much research on the relationship between financial institutions and the economic growth in China. McKinnon finds out the uniqueness with the approach to financial reform and gives a general description of the bank-supporting economic growth with the help of concepts like financial residue and financial control. The validity of his view is later confirmed by the World Bank and Madison who emphasize respectively the importance of initial condition and household savings. After examining the institutional structure and operational pattern of the banking system,some literature reveals the long-term coexistence of the rapid economic growth along with the high level of bad loans,large returns and high liquidity in the banking system. Further research by some other literature finds that in the presence of decrease in fiscal revenue,it is the debt-financing approach implemented through banks that contributes the most to the economic growth. Economist like Gregory C. Chow and Chen Zhiwu try to deepen the analysis of the mechanism of financial institutions from the historical and cultural aspects.

关 键 词：金融制度 金融改革方式 银行体系的制度结构 国家举债的金融方式 

分 类 号：F124[经济管理—世界经济] F832.1