上海金融中心功能研究1927-1937

发布时间：2018-01-12 06:20

  本文关键词：上海金融中心功能研究1927-1937　出处：《中央财经大学》2014年博士论文　论文类型：学位论文

  更多相关文章： 上海金融中心 金融聚集 金融辐射

【摘要】：世界近代史以来崛起的大国,有一个共同的特征,就是这些国家都有一个功能强大的国际金融中心。金融中心不仅为所在国的经济发展给予足够的资金支持,而且还提高了该国在世界经济的影响力。经过改革开放30多年的发展,我国已经成为全球第二大经济体和第一大贸易国,综合国力不断提升。将上海国际金融中心建设上升为国家发展战略的高度,是实现中华民族伟大复兴的必然选择。当前上海国际金融中心建设取得了可喜的成绩,但是上海国际金融中心的建设还面临着制度性约束、国际化水平低和人才不足等障碍,这些问题的解决需要考虑上海金融中心的定位。以史为鉴,在二十世纪三十年代,上海有着远东国际金融中心的声誉。本文通过对1927-1937年上海金融中心功能进行研究,为今天上海金融中心建设和上海金融中心功能定位提供经验借鉴。本文着重研究近代上海金融中心的功能,力求从功能的角度对近代上海金融中心进行深入的研究。全文主要内容为四部分:第一部分是上海金融中心地位的确立。分析了上海金融中心的形成背景:基于全球化的视角分析上海金融中心形成的时代背景,介绍了上海的自然地理条件,分析了上海成为中国的多功能的经济中心。然后介绍了开埠前后近代上海金融业的发展,为上海金融中心地位的确立奠定了基础。上海金融中心地位的形成是在二十世纪二十年代末期和三十年代初期,上海金融业经过了北洋政府时期的快速发展和国民政府时期的稳步发展,上海成为中国的金融中心。第二部分是关于上海金融资源聚集功能。这一部分分析上海金融中心的金融资源的聚集功能,近代上海是我国货币和金融工具的发行中心;上海拥有各种类型的金融机构,银行和非银行金融机构,现代和传统的金融机构,外资和中资金融机构,还有金融业辅助机构;近代上海金融市场涵盖了货币市场、证券市场、汇兑市场、标金市场和条银市场,成为中国极具影响力的金融市场。第三部分是关于上海是金融人才、信息、制度和服务的中心。近代上海金融业的发展和金融中心功能的发挥离不开有着现代管理经验的一批银行家,同时上海还汇集和培养了大量的有经验的金融从业人员。上海作为近代中国的现代通讯事业的中心,自然就成为信息集散的中心。随着现代通讯技术的发展,为信息的集散提供了技术基础,提高了信息集散的速度。早期银行都是各自为战,各自建立了自己的调查机构,后联合起来成立征信所,提高了信息聚散能力。近代上海是我国金融制度创新的中心,国民政府上台后奠定了宏观金融制度的基础,金融同业组织建立了行业的规章制度以及规范的业务制度。具有创新意识的银行家,以服务社会为理念,不断进行服务和产品的创新,提高了银行的服务能力和水平。很多金融服务和产品都为国内首创,起到了示范和引领的作用。最后一部分关于农业经济晚期的上海金融中心辐射功能体现在三个方面:第一,建立了支付结算体系,方便贸易的支付与结算,促进了进出口贸易和埠际贸易,经营汇兑成为商业银行主要的利润来源之一。第二,近代上海金融中心执掌全国资金定价,通过同业拆借利率、申汇价格、外汇汇价和存贷款利率影响区域经济和全国经济。第三,近代上海为全国的投融资服务中心,不仅是外资和侨资的投资中心,也是国内资金的聚散地,因而上海成为国民政府财政融资的筹集地,近代中国的工商企业的筹资也依赖于上海的金融界。通过以上分析可得出如下结论:一是,近代上海聚集金融资源的优势非常强,是货币与金融工具发行的中心,有着健全的金融机构体系,有现代的银行、保险和信托等金融机构,也有以钱庄为代表的中国本土特色的传统的金融机构,加上各种金融同业组织,形成了近代上海金融机构体系;建立了较为完善的金融市场体系,有主导全国资金定价的同业拆借市场,有远东最大的证券市场,还有由标金、条银和外汇市场构成的中国国际汇兑市场。二是,近代上海在金融人才、信息、制度和服务方面体现出了聚集优势。金融人才齐聚上海,尤其是银行家的聚集,推动了上海金融业乃至全国金融业的发展。上海是近代中国经济金融信息的集散地,借助现代的通信设施,银行建立调查部收集和处理信息,通过内部刊物或者金融行业期刊传送信息。上海是近代中国金融制度创新的中枢,国民政府上台后,采取了强制的金融变迁,奠定了宏观金融制度的基础,金融行业和业务制度随之进行了调整。上海在金融服务上开中国之先河,成为全国各地学习和模仿的对象。三是,对于由农业经济向商品经济转轨时期的近代中国来说,上海作为金融中心主要是通过支付结算、资金定价和投融资功能,对全国和区域经济展现了辐射能力。上海金融中心不仅促进了上海本地的经济发展,还促进了腹地经济的繁荣,对全国经济的发展也起到了积极的作用;四是,近代上海金融中心的形成和功能的发挥得益于上海的经济优势,作为中国的航运、贸易和经济的中心,上海经济的辐射能力奠定了金融中心功能发挥的经济基础;上海金融中心功能的发挥还得益于国民政府上台后所推出的经济金融政策,尤其是中央银行成立、废两改元和法币政策的实施,进一步提升和扩大了上海金融中心的聚集和辐射功能;再者金融业同业组织对金融中心功能的发挥起到了关键性的作用,在缺乏制度保障的近代中国,金融同业组织不仅起到了自律监管、行业规范和团结协作的功能,还承担了部分政府的职能;上海金融市场具有自由、开放和国际性特征,增加了上海金融的活力和聚集力。五是,上海金融中心聚集的功能比较强,辐射能力和范围受到制约,主要源于中国近代的农业经济和连年的战乱,使得地域分割严重和缺乏稳定的社会环境。法币改革前上海金融的资金定价权为外资银行所掌握,通过控制钱庄信用规模,影响上海同业拆借市场利率,影响资金的松紧,外资银行完全成为了影子中央银行,控制中国金融市场行市;外汇市场完全为外资银行所垄断,汇率的定价权也被外资银行掌握,至此在1935年前,上海的资金定价权完全旁落,任由外资摆布。上海证券市场发展较为滞后,并且没有起到证券市场对企业和经济发展提供直接融资支持的作用。上海金融市场的国际性更多的是作为连接和附属地位而存在,缺乏足够的影响力,并没有成为具有国际融资功能和定价功能的国际金融中心。对近代上海金融中心功能的研究为今天上海金融中心建设提供了有益的启示。一是,清晰定位上海金融中心功能。近期上海金融中心建设的目标就是要成为区域的国际金融中心,在将来随着中国金融开放水平的提高和人民币国际化的实现,上海建设成为全球的国际金融中心。基于上述定位,上海金融中心聚集和辐射功能上也有不同的体现。近期上海金融中心聚集功能主要体现在上海是远东地区资金、金融机构和金融市场的聚集中心,在金融人才、信息、制度和服务上也处于领先地位,辐射功能主要是跨国支付和结算功能、金融资产的定价和风险管理功能,并通过价格机制和风险转移机制,实现对财富的再分配以及资源的再分配。长期上海成为全球的金融中心,其聚集和辐射功能扩展至全球。二是,夯实上海本地经济实力,今日上海已经是中国的航运、贸易和工业中心,奠定了上海成为金融中心的基础,但是要将上海建设为国际金融中心,还需提高上海的经济实力。首先要大力发展上海和腹地先进的制造业,鼓励技术创新,提高出口产品的附加价值,变中国制造为中国创造,增强出口的抗风险能力。其次要加强和腹地经济的联系,扩大腹地经济范围。通过产业转移和产业分工协作,发挥腹地经济的优势,提高上海经济的聚集力和辐射力。同时要扩大上海经济腹地的范围,沿着长江扩展到广大的中西部地区,不仅能带动中西部地区的经济发展,还能够提高上海的整体经济实力。三是,近代上海金融业在1935年的法币改革前是自由和开放的,金融业的发展和金融制度的变迁属于诱致性的变迁,市场发挥主导作用。典型的表现在利率和汇率的市场化程度比较高,资金可自由流动,无论是经常项目和资本项目均进出自由。时下中国的利率和汇率还未完全市场化,并且资本账户还没有开放,资本不能自由进出,这些无疑是上海国际金融中心建设要面临的制度性障碍。因此要进一步加快利率市场化改革,深化汇率制度改革,渐进的开放资本账户,实现人民币的可自由兑换,推进人民币的区域化和国际化。四是,强化金融机构的聚集效应。当前上海金融机构聚集能力不仅远逊于纽约和伦敦,而且还落后于东京、香港和新加坡。因此上海要建设成为远东的国际金融中心,还要加强金融机构聚集能力。首先吸引国内外重要金融机构;其次,加快发展上海本地法人金融机构;最后,加快发展新型金融业态。五是,当前上海国际金融中心建设面临着金融人才短缺的难题,尤其缺乏具有国际金融市场工作经验的高端人才,为此要制定短期的人才引进计划,中、长期的人才培养方案。首先是要创造条件,吸引全球一流人才;其次加快人事制度改革和人才市场的发展,创造有利的事业发展环境;最后要加强金融人才的教育和培训。本文的创新点:一是,从功能的角度研究近代上海金融中心。以往对上海金融中心的研究更多侧重于上海金融中心的形成背景、条件、影响等方面,而鲜有对于上海金融中心功能的研究。通过对近代上海金融中心功能的研究,使得对上海金融中心的研究更完善和深入。二是,本文以金融产业聚集和辐射理论作为理论基础,对近代上海金融中心功能进行了动态的界定。三是,本文创造性地把金融人才、信息、制度和服务作为金融中心聚集功能,并对近代上海金融中心在金融人才、信息、制度和服务方面进行了详细的分析,更为全面地刻画了近代上海金融中心的特征。
[Abstract]:The rise of modern world history since the country, have a common feature, is that these countries have a powerful international financial center. The financial center not only for the country's economic development give adequate financial support, but also improve the country in the world economy. After 30 years of reform and opening up development and China has become the world's second largest economy and the largest trading nation, comprehensive national strength continued to improve. The construction of Shanghai international financial center will rise to the height of national development strategies, is the inevitable choice to realize the great rejuvenation of the Chinese nation. The construction of Shanghai international financial center has made gratifying achievements, but the construction of Shanghai international financial center facing institutional constraints, the internationalized level is low and the lack of talent and other obstacles, these problems need to consider the location of Shanghai financial center. In history, twenty In 30s, Shanghai has an international financial center in the Far East reputation. Based on the research of 1927-1937 Shanghai financial center, to provide experience for today the development of Shanghai financial center and financial center of Shanghai. This paper focuses on the function of modern Shanghai financial center, and strive to from a functional point of view in-depth Study on modern Shanghai financial center. The main content of this paper consists of four parts: the first part is the establishment of the Shanghai financial center status. Analysis of the formation background of Shanghai financial center: analysis of Shanghai financial center formed the background of globalization from the perspective of the natural geographical conditions of Shanghai, analyzes the Shanghai become the economic center of the multifunctional Chinese. Then introduced the development of modern financial industry in Shanghai before and after the opening, laid the foundation for the establishment of Shanghai's financial center of Shanghai finance. The formation of heart position is at the beginning of the end of 1920s and 30s, Shanghai's financial industry after the steady development of the rapid development of Beiyang government and the national government period, Shanghai became the Chinese financial center. The second part is about the Shanghai financial resources aggregation. This part of the financial resources aggregation analysis of Shanghai financial center, modern Shanghai is China's monetary and financial tools in distribution center; financial institutions in Shanghai have various types of banks and non bank financial institutions, modern and traditional financial institutions, and foreign funded financial institutions, and financial aid agencies; modern Shanghai financial market covers the money market, stock market, foreign exchange market, gold market and the silver market, become Chinese influential financial market. The third part is about the Shanghai financial talent, information, system and service The center of the play. The development of modern Shanghai financial industry and financial center function cannot do without a modern management experience of a group of bankers, Shanghai also collected and cultivated a large number of experienced financial professionals. As a modern communication center of Shanghai China the cause of modern, naturally become the distribution center with information. The development of modern communication technology, provides the technical foundation for the distribution of information, improve the information distribution rate. Early banks are to establish their investigation agencies fight the enemy separately, their own, after together to set up credit, improve information gathering ability. Modern Shanghai is China's financial system innovation center, the National Government took office after the foundation of macro financial system, financial industry organization established industry regulations and norms of the business system. The innovative banker, to serve the community As the concept of continuous innovation of products and services, improve service ability and level of the bank. Many financial services and products for the domestic initiative, has played an exemplary and leading role. The last part of the agricultural economy in the late Shanghai financial center radiation function embodied in three aspects: first, the establishment of the payment and settlement the payment and settlement system, facilitate trade, promote the import and export trade and domestic trade, foreign exchange business has become one of the main source of profit of commercial banks. In second, the modern Shanghai financial center in the national capital pricing, through the interbank interest rate, foreign exchange rate and the price of the bill, deposit and loan interest rates affect the regional economy and national economy. Third in modern times, Shanghai to the country's investment and financing service center, is not only the foreign and overseas Chinese investment center, and is also the domestic funds, so Shanghai has become the national government fiscal financing The raise, the modern industrial and commercial enterprises China financing also depends on Shanghai's financial sector. Through the above analysis, the following conclusions can be drawn: first, the modern Shanghai gather financial resources is very strong, monetary and financial instruments issued by the center, with a sound financial system, modern banking, insurance and trust and other financial institutions, financial institutions also have with banks as a representative of the local characteristics of the traditional Chinese, plus a variety of financial organizations, formed the modern Shanghai financial institutions system; establishing perfect financial market system, leading the national capital pricing in the interbank market, the Far East has the largest stock market, as well as by gold, silver and foreign exchange market. China international exchange market. The two is that in the modern Shanghai financial talent, information, system and service reflects the advantage of gathering financial professionals gathered in Shanghai, Especially the bankers gathered, to promote the development of the financial industry in Shanghai and even the whole financial industry. Shanghai is the center of modern Chinese economic and financial information, with the help of modern communication facilities, the establishment of the Bank of investigation department to collect and process information, through internal publications or financial industry journal information. Shanghai is the central Chinese modern financial system innovation, the national government took office, to take the change of financial force, laid the foundation of macro financial system, financial industry and business system adjust. Shanghai in the financial services provided Chinese precedent, as all over the country to learn and imitate. The three is for from agricultural economy to commodity economy during the transition period in modern China, Shanghai as a financial center is mainly through the payment and settlement, capital pricing and financing function of national and regional economic show Shanghai radiation. The financial center has not only promoted the local economic development in Shanghai, but also promoted the hinterland of economic prosperity, the development of the national economy has played a positive role; the four is the form and function of modern Shanghai financial center of the play to benefit from Shanghai's economic advantages, as China shipping, trade and economic center, radiation the ability of Shanghai's economy has laid the economic basis function of financial center play; Shanghai financial center function also benefited from the launch of the national government's economic and financial policies, especially the central bank, the implementation of waste and two Gaiyuan legal tender policy, to further enhance and expand the aggregation and radiation function of the Shanghai financial center; play in the financial industry trade organization on the function of financial center plays a key role in the security of the system, the lack of modern China, financial organization to not only self-discipline supervision Pipe industry norms and cooperation function, also bear some of the functions of the government; the financial market of Shanghai has a free, open and international features, increase vitality and Shanghai financial agglomeration. Five, Shanghai financial center aggregation function is relatively strong, the radiation ability and scope is restricted, mainly due to the modern China the agricultural economy and the years of war, making the region segmentation is serious and lack of a stable social environment. The capital pricing of Shanghai finance currency reform before foreign banks have, by controlling the bank credit scale, Shanghai interbank market interest rates, the impact of capital elasticity of foreign banks has become the shadow of the central bank, financial control Chinese the market for foreign exchange market; completely monopolized by foreign banks, exchange rate pricing by foreign banks have so far, before 1935, capital pricing in Shanghai completely by Fall, let the foreign mercy. The Shanghai stock market development is relatively lagging behind, and did not play the stock market to provide direct financing to support the role of the enterprise and economic development. The international financial market in Shanghai is more connected and exists as a subordinate position, lack of force enough, did not become an international financing function and pricing function the international financial center. The research on the modern Shanghai financial center function provides beneficial inspiration for today's Shanghai financial center construction. First, clear positioning of Shanghai financial center. The recent Shanghai financial center construction's goal is to become a regional international financial center in the future, with the implementation and improve the level of financial openness Chinese RMB the internationalization of building Shanghai into an international financial centres in the world. Based on the above position, Shanghai financial center aggregation and radiation function are With the recent manifestation. Shanghai financial center aggregation is mainly reflected in the Shanghai Far East Center funds, financial institutions and financial markets, the financial information system and service personnel, and is also in the leading position, the radiation is the main function of cross-border payment and settlement functions, financial asset pricing and risk management functions, and through the price mechanism and risk transfer mechanism, implementation of the redistribution of wealth and resource redistribution. The long-term Shanghai become a global financial center, the aggregation and radiation function is extended to the world. In two, the Shanghai solid economic strength, Shanghai has today is Chinese shipping, trade and industrial center, laid the foundation of Shanghai to be the financial the center, but to the construction of Shanghai international financial center, to improve the economic strength of Shanghai. We should vigorously develop advanced manufacturing industry and the hinterland of Shanghai, to encourage. Technological innovation, increase the added value of export products, to create Chinese China variable manufacturing, to strengthen the export of anti risk ability. Secondly we should strengthen and expand the scope of the hinterland economy, hinterland economy. Through industrial transfer and industrial division of labor, play the hinterland economy advantage, improve Shanghai economic aggregation and radiation range. At the same time to expand the economic hinterland of Shanghai, along the Yangtze River to the vast central and western regions, can not only promote the economic development in central and western regions, but also can improve Shanghai's overall economic strength. The three is that the modern financial industry in Shanghai is free and open in 1935 before the currency reform, change the development of the financial industry and financial system belong to own market to play a leading role. The typical performance is relatively high in the degree of marketization of interest rate and exchange rate, capital can flow freely, both current and capital projects All freedom. Nowadays China interest rate and exchange rate is not fully market-oriented, and the capital account is not open, not free to import capital, which is undoubtedly the institutional obstacles to the construction of Shanghai international financial center to face. Therefore, to further accelerate the market-oriented interest rate reform, deepen the reform of exchange rate system, the gradual opening of the capital account, to achieve the yuan convertible, promote RMB regionalization and internationalization. The four is to strengthen the aggregation effect of financial institutions. The financial institutions in Shanghai gathered not only inferior to New York and London, but also behind Tokyo, Hongkong and Singapore. Therefore Shanghai should be built into the far east international financial center, but also to strengthen the agglomeration of financial institutions the ability to attract domestic and foreign financial institutions. First; secondly, to accelerate the development of Shanghai local corporate financial institutions; finally, accelerate the development of new financial formats five. At present, the construction of Shanghai international financial center is facing the problem of financial talent shortage, especially the lack of experience in the international financial market of high-end talent, it is necessary to formulate a short-term plan, the introduction of talent, talent cultivation plan long-term. The first is to create conditions to attract world-class talent; secondly, to accelerate the development of the reform of personnel system and personnel the market, create a favorable environment for development; finally must strengthen financial personnel education and training. The innovation of this paper: first, the research from the angle of function of modern Shanghai financial center. The previous research on Shanghai financial center more focused on Shanghai

【学位授予单位】：中央财经大学
【学位级别】：博士
【学位授予年份】：2014
【分类号】：F832.9
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本文编号：1413065