用金融存量指标对中国金融深化进程的衡量

The Measurement of China′s Financial Deepening Reform by Financial Interrelation Ratio

文章对改革以来我国货币化比重的变化及其原因进行了探讨 ,认为利用货币化比重指标不能准确衡量中国的金融深化程度 ,而应采用金融相关比率指标衡量。通过国际比较 ,本文得出目前中国的金融深化仅处于发展中国家的中等偏上水平 ,中国的金融市场尚待进一步发展的结论。

The paper looks at the evolvement of the monetization ratio in since 1980's and explores the cause of this change. Based on international comparison, the author considers the financial deepening in China can not be measured by the monetization ratio, and should be measured by financial interrelation ratio. The paper concludes that the level of Chinese financial deepening degree is slightly over middling level of that in developing countries and the financial market in China should be further developed.