交易费用视角下的互联网金融发展与监管

The Development and Supervision of Internet Finance: A Perspective of Transaction Cost Economics

基于交易费用经济学角度,从产业层面、金融中介、交易的频率以及资产的专用性等四个方面分析互联网金融兴起如何带来金融市场交易成本的下降。这种交易成本的下降又反向进一步推动互联网金融的发展。从减少信息成本、加强征信体系建设以及差异化监管三个方面对互联网金融的监管提出了建议。

From the perspective of transaction cost economics, this paper analyzes the reasons that the internet finance lowers transaction cost from four aspects： industry, financial intermediaries, transaction frequency and special purpose of assets. Falling transaction cost, in turn, further promotes the development of the internet finance. The paper finally proposes suggestions for the internet finance supervision and regulation from three aspects： information cost cutting,credit system improvement, and differentiated supervision.