金融外部性的性质

Properties of Financial Exteriorities

金融外部性是金融行为中私人成本或私人收益向第三方溢出的外部经济效应。其形成背景是全球经济金融一体化发展趋势和现代金融在经济中核心作用的形成。无论是金融正外部性还是金融负外部性都意味着金融市场机制的失灵，因而不利于实现金融资源的的帕累托效率。因此认识金融外部性的性质，创新金融制度，完善金融功能，对于市场经济体制的建设和完善具有现实和理论意义。

Financial exteriorities refer to the exterior economic effect of the overflow of private cost or reve- nue to the third Party in financial dealings. The developing tendency of global economy and finance, together with the nucleus role of modem finance in economy, makes the background for its emergence. Both positive ex- teriorities and negative exteriorities mean disorder of financial market system. They will not, in the least, help to achieve Pareto's efficiency of financial resources. Therefore, awareness of the properties of financial exteriori- ties, creation of financial system, and betterment of financial function will be most helpful to establish and im- prove the market economy system both in theory and practice.