从费城到纽约——美国金融中心的变迁及其原因

From Philadelphia to New York——How New York Became the Financial Center of the USA

在美国早期金融发展史上,费城是第一个全国金融中心。但是仅仅几十年之后,纽约就取代它成为新的全国金融中心。在这种变迁过程中,有四个基础性的因素起了重要的作用。他们分别是政治中心、商业贸易量、区域经济实力和制度创新等。其中,政治中心在全国金融中心的最初形成阶段具有重要的作用,但是随着国民经济的发展,其重要性会变得越来越弱,相反,商业贸易量、区域经济实力和制度创新则成为全国金融中心形成、发展和巩固的决定性力量。

In the early history of financial development of the United States of America Philadelphia was once the first domestic financial center. But only after several decades New York replaced it and became the new domestic financial center. In the process of such a change four basic factors played important roles, namely, political center, amount of the commercial trade, regional economic power, and innovation of the financial system. Of these four factors the political center contributed more to the early stage of the domestic financial center. However, with the development of national economy its importance has weakened. On the contrary, the other three factors will become the decisive strength to the formation development and solidification of the domestic financial center.