后危机时代中国金融创新研究

发布时间：2018-03-07 05:37

本文选题：金融创新　切入点：后金融危机时代　出处：《哈尔滨工程大学》2013年博士论文　论文类型：学位论文

【摘要】：中国是一个拥有十三亿人口的大国，一方面对资本的需求巨大，另一方面形成储蓄的能力也同样强大，因而高效的金融中介就显得必不可少，金融系统已成为支撑中国经济高速发展的基本元素。然而，现实是中国金融系统的金融创新能力和服务水平与市场的需求相比还有很大差距。中国金融业发展的市场环境在迅速变化，客户的需求从传统的简单业务向创新型的金融服务转变，从单一的产品向一揽子的综合金融服务转变。从规模上看，中国金融市场已经在国际金融市场占有一席之地，但从金融服务的供给角度看，中国金融市场的主要问题是创新能力不足，导致产品单一，不能满足经济快速增长和经济结构的迅速变化的需要。当我们还在思考如何提高中国金融系统创新能力的时候，百年一遇的全球性金融危机席卷世界，失控的金融创新正是本次危机的元凶。整个西方世界的金融体系在金融危机之后发生了深刻变革，对于处于经济转型时期的中国而言，吸收借鉴发达国家金融创新发展中经验教训，谋划后金融危机时代金融创新发展策略成为当务之急，本文的研究正是在这样的背景完成的。本文从分析我国金融创新发展现状入手，阐明我国当前我国金融创新的特征及存在的问题，进而对后危机时代金融创新发展趋势和我国的金融创新需求进行分析，以此为基础对后危机时代我国金融创新模式选择加以研究，最后从动力机制、运行机制和激励机制等层面对我国金融创新进行机制研究，进而提出后危机时代我国金融创新策略与保障措施。本文的主要工作和创新如下：第一，对我国金融创新的现状、特征及存在的问题进行分析。通过梳理金融创新理论对金融创新进行重新定义；通过对我国金融创新发展现状的回顾，归纳出我国金融创新特征；在特征归纳的基础上，对我国金融创新发展的主要障碍因素进行了分析；分析我国金融深化发展趋势及金融创新对经济增长的作用。通过经验研究发现金融深化和金融创新对我国经济发展的促进作用有弱化趋势，，进而指出，加快金融创新和金融市场制度改革，提高金融市场的资源配置效率，是保障我国经济持续快速发展的当务之急。第二，对后金融危机时代金融创新的发展趋势进行研究。从金融危机爆发的原因可以看出，金融创新并不是金融危机爆发的根本原因。金融创新只是危机传播的一个媒介和一种手段。在后危机时代，由于危机带来的一系列冲击和影响，金融创新的发展将出现一系列变化，主要表现在流动性、资产定价、杠杆化、包装、信用评价、监管等六个方面。第三，对后危机时代我国金融创新需求进行研究。从金融机构、金融市场、整体经济发展等多个层面分别剖析了对金融创新的需求，进而阐明了加快推进金融创新在国家经济生活中的重要意义。第四，对后危机时代我国金融创新模式选择进行研究。对金融创新模式的含义和分类进行了阐释，并对我国金融创新模式的演进以及后危机时代的创新模式选择进行了理论分析并针对有关问题提出对策建议。第五，进行金融创新机制分析。通过结构方程模型分析方法，考察各动力要素对金融创新的影响。分析结论表明：完善的金融市场对金融创新具有正向作用；政府支持程度对金融创新具有正向作用；创新意识既可直接作用于金融创新，也可通过影响创新主体需求和金融市场对金融创新产生间接影响；创新主体需求不会直接刺激金融创新。最后，对金融创新运行机制和激励机制进行研究。第六，对后危机时代我国金融创新发展策略进行研究。结合后危机时代金融创新的时代特点和我国的金融创新发展现状，分别对金融创新的策略定位、产品创新策略、组织创新策略、制度创新策略以及金融创新的保障措施建设等问题进行了系统研究。
[Abstract]:Chinese is a country with a population of one billion and three hundred million, on the one hand, the huge demand for capital, on the other hand, the formation of savings ability is also great, so it is essential to efficient financial intermediation, financial support system has become the basic elements of China high-speed economic development. However, the reality is Chinese financial system, financial innovation and service the level and the needs of the market there is a big gap between the development of the financial industry. Chinese rapid changes in the market environment, customer demand from traditional simple business to innovative financial services transformation, changing from a single product to the integrated financial services package. In terms of size, China financial market has occupied a space for one person in the international financial market but the supply of financial services, from the point of view, the main problem Chinese financial market is the lack of innovation, resulting in a single product, can not meet the The need for rapid growth and rapid changes in the economic structure.
When we are still thinking about how to improve the innovation ability of Chinese financial system, global financial crisis swept the world, out of control of financial innovation is the culprit of the crisis. The western world's financial system has undergone profound changes in the wake of the financial crisis, for a period of economic transition China, absorbing the experience and lessons the development of financial innovation in developed countries, to plan the post financial crisis era of financial innovation development strategy has become a pressing matter of the moment, this study is done in this background.
This paper analyzes the status quo of China's financial innovation and development of our country, clarify the characteristics of the current financial innovation in China and the existing problems, and then makes an analysis of the post crisis era of financial innovation and the development trend of financial innovation demand in our country, on the basis of the post crisis era of China's financial innovation mode selection research, finally from the the dynamic mechanism, operation mechanism and incentive mechanism in the mechanism of financial innovation in China, and puts forward the innovation strategy of China's financial and security measures of the post crisis era. The main work and innovation are as follows:
First, the status quo of China's financial innovation, characteristics and existing problems are analyzed. Based on the theory of financial innovation and financial innovation to sort out re definition; through reviewing the current situation of the development of financial innovation in China, summed up the characteristics of financial innovation in China; based on characteristic of induction, the main obstacle factors of China's financial innovation and development are analyzed; analysis of China's financial deepening and the development trend of financial innovation's effect on economic growth. The empirical study found that promote financial deepening and financial innovation in China's economic development has a weakening trend, and then pointed out that speeding up the financial innovation and financial market system reform, improve the efficiency of resource allocation of financial market. Security is a pressing matter of the moment China's sustained and rapid economic development.
Second, to research the development trend of financial innovation on the financial crisis after the outbreak of the financial crisis. From the reason we can see that the financial innovation is not responsible for the outbreak of the financial crisis. A media crisis communication and financial innovation is just a means. In the post crisis era, due to a series of crisis impact and influence the development of financial innovation will appear a series of changes, mainly in liquidity, leverage, asset pricing, packaging, credit evaluation, the six aspects of supervision.
Third, we need to study the demand for financial innovation in the post crisis era. We analyze the demand for financial innovation from the financial institutions, the financial market and the overall economic development, and further clarify the importance of accelerating financial innovation in the national economic life.
Fourth, in the post crisis era of financial innovation mode in China were studied. The meaning and classification of financial innovation model are expounded, and the evolution of financial innovation mode of our country and after the crisis era innovation mode selection is analyzed according to the related problems and put forward suggestions.
Fifth, analysis of the financial innovation mechanism. Through structural equation model analysis method, the influence of the driving factors of financial innovation. The analysis shows that improving the financial market has a positive effect on financial innovation; government support has a positive effect on financial innovation; innovation consciousness can not only direct effect on financial innovation, also can indirectly the influence of financial innovation through the influence of the main innovation demand and financial market demand; innovation does not directly stimulate financial innovation. Finally, research on financial innovation mechanism and incentive mechanism.
Sixth, to study the development strategy of China's financial innovation in the post crisis era. The era of financial innovation crisis after the combination of China's financial innovation and development, respectively, strategic positioning of financial innovation, the product innovation strategy, organizational innovation strategy, makes a systematic research on the system innovation strategy and financial innovation safeguard measures the construction and so on.

【学位授予单位】：哈尔滨工程大学
【学位级别】：博士
【学位授予年份】：2013
【分类号】：F832

【参考文献】