互联网金融的产生与演进：制度创新及其机理

发布时间：2018-02-16 21:55

本文关键词： 互联网金融四个维度制度创新演进机理　出处：《中共浙江省委党校》2014年硕士论文　论文类型：学位论文

【摘要】：互联网金融的本质是金融,是以互联网技术平台为支撑,金融业与互联网产业相结合,提供跨时空金融服务的模式。其充分利用互联网所具有的信息透明、快速便捷、大数据和云计算等技术手段,有效拓展了金融交易各方的多样性选择权,降低了金融交易成本。互联网金融业务起步于20世纪90年代,21世纪初开始飞速发展,2013年被称为“互联网金融元年”,互联网金融的创新发展得到了政府部门、学术界、民众投融资者的高度瞩目。本文首先分析互联网金融的演进过程及其阶段特征,将其分为三个阶段,依次为传统金融的网络化、典型互联网金融服务方式与融资方式、完全的互联网金融。认为第三阶段还没真正出现,第一阶段最早产生,目前仍与第二阶段在竞相发展中。其次,通过分析典型案例构建分析框架。支付宝是我国目前第三方支付市场中交易规模最大、交易流程最为人们熟悉的机构,以第三方信用担保为起点,拓展至服务于阿里微贷、互联网货币基金理财余额宝、获得网络银行模式的民营银行试点资格,它的创新与发展,一定程度上代表了互联网金融的发展历程及趋势。通过剖析支付宝的演进路径,归纳出互联网金融演进的关键性影响因素,即制度、市场机构、技术、组织机制,构建互联网金融的分析框架。认为制度是互联网金融永续稳健发展的保障,是核心因素。市场结构、技术、组织机制影响互联网金融发展,也诱致金融制度变迁以规范互联网金融和保障其相关权益。再次,将互联网金融与其四个关键影响因素的相互作用予以事实论证与理论阐述,论证了制度变迁是互联网金融永续健康发展的制度保障,市场结构对互联网金融生存空间起决定性作用,技术进步是互联网金融产生与发展的诱因与技术支撑,组织机制的协同发展是互联网金融发展的最高境界。最后,本文认为互联网金融的创新及其“鲶鱼效应”有望改变金融体系固疾,更好地服务实体经济与民生:集物流、资金流、信息流于一体,构建社会信用体系;统一不同银行与实体经济支付接口,形成系统性效应;打破我国近乎银行信用为唯一信用的格局,强化直接融资的市场信用地位;互联网金融的高渗透率,广覆盖率有望突破分业经营体制,实现混业经营与功能监管相对应的金融体系。本文的创新点在于通过剖析典型案例归纳分析互联网金融演进的关键因素,从事实与理论两方面予以支撑。研究不足之处在于数据有限,未能构建数量模型对互联网金融的发展予以实证分析,这也是本文未来研究需努力的方向。
[Abstract]:The essence of Internet finance is finance, which is supported by Internet technology platform, combines financial industry with Internet industry, and provides financial services across time and space. It makes full use of the information transparency, speed and convenience of the Internet. Big data and cloud computing and other technical means have effectively expanded the diversity of options for all parties to financial transactions. The financial transaction cost has been reduced. The Internet financial business started from 1990s to the beginning of the 21st century. In 2013, it was called "the first year of Internet Finance." the innovation and development of Internet Finance has been developed by government departments and academic circles. This paper first analyzes the evolution process and phase characteristics of Internet finance, and divides it into three stages: the traditional financial network, the typical Internet financial service mode and the financing mode. Complete Internet finance... Thinks that the third stage has not really appeared, the first stage has emerged first, and is still competing with the second stage in development. Secondly, By analyzing typical cases, Alipay is the largest and most familiar institution in the third party payment market in our country. It takes third-party credit guarantee as the starting point and extends to serve Ali micro-loan. The Internet Monetary Fund manages money Yu'e Bao, obtains the network bank model private bank pilot qualification, its innovation and the development, has represented the Internet finance development course and the tendency to some extent. This paper sums up the key influencing factors of the evolution of Internet finance, that is, institution, market organization, technology, organization mechanism, and constructs the analytical framework of Internet finance. It is considered that institution is the guarantee of the sustainable and steady development of Internet finance. It is the core factor. Market structure, technology, and organization mechanism affect the development of Internet finance, and also induce financial system changes to regulate Internet finance and protect its related rights and interests. Thirdly, In this paper, the interaction between Internet finance and its four key influencing factors is demonstrated in fact and in theory, and the institutional change is proved to be the institutional guarantee for the sustainable and healthy development of Internet finance. Market structure plays a decisive role in the living space of Internet finance. Technological progress is the inducement and technical support for the emergence and development of Internet finance. The coordinated development of organization mechanism is the highest level of Internet finance development. This paper holds that the innovation of Internet finance and its "catfish effect" are expected to change the financial system and better serve the real economy and people's livelihood. Unifying the payment interface between different banks and the real economy, forming a systematic effect; breaking the pattern of near-bank credit as the only credit in our country, strengthening the market credit position of direct financing; the high penetration of Internet finance, The wide coverage rate is expected to break through the separate operation system and realize the financial system corresponding to the mixed operation and functional supervision. The innovation of this paper lies in the analysis of typical cases and the analysis of the key factors of the evolution of Internet finance. The deficiency of the research is that the data is limited, and the quantitative model can not be constructed to analyze the development of Internet finance empirically, which is the direction of the future research in this paper.
【学位授予单位】：中共浙江省委党校
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F724.6;F832

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