城市—区域开发的金融化趋势展望与政策应对

The trend of financialization in urban and regional development and the policy choice

近年来,各种创新型金融渠道和产品在城市的开发、建设与管理中发挥的作用越来越大,这一趋势可以用"金融化"加以概括。在回顾当前的有关研究,进而基于"城市供给的合约结构理论"这一分析框架,对城市—区域开发过程中的金融化趋势进行了探讨,并分析其结构特征与存在的风险、问题,最后,提出中央、地方、国际、金融部门等四个方向的财税、金融应对政策与策略。

In recent years, a variety of new financial channels and products play more and more important roles in the planning, construction and management of urban development, and this trend as a whole can be called financialization： This paper reviews the current research, develops an analytic framework of tructural contract theory in urban supply, and then discusses the financial trends including the structure, risks and problems in the process of urban - regional development. Finally, it brings up several policy suggestions and strategies from four aspects which are related to the central government, local governments, the international sector and the financial sector.