财政转变、金融发展与经济转型——兼论中西方长期金融发展中的“分流”与“合流”

Financial Changes, Financial Development and the Economic Transformation

通过对财政转变与金融革命关系的分析,表明对税收权力的限制和公共信用不仅是金融革命的关键所在,也是现代金融发育成长的基础和保障。近代以来各国的历史经验表明,经济现代化必然伴随着金融的加速发展,而各国的政府行为、金融条件及发展路径将直接影响其经济发展进程,也是中西方金融"分流"的基本原因。英国和法国在工业革命前就已经进行了长期的金融孕育,美国和西欧各国的现代金融发展或者与工业化同步或者略早于工业化启动,并随着工业化进程构建起现代金融体系。战后的新兴市场经济国家一般都遵循金融发展的"需求导向",即实际经济部门大多都优先于金融中介启动和发展。改革开放以来,中国的金融深度、金融系统的规模不仅很好地满足了经济增长的需求,而且已经逐渐与主要发达资本国家、新兴市场国家趋同,但在金融结构方面仍有待于进一步优化。推进金融体系改革和发展仍然是当前中国经济转型和现代化不断深入的必然选择。

The analysis of the relationship of the finance changes and financial revolution shows that a good tax system and the public credit is not only the key financial revolution,but also the basis and guarantee of growth of the modern financial development.Since the modern times,the historical experience indicated that the economic modernization is accompanied by the accelerated development of finance,and the government behavior,financial conditions and various development paths will directly affect its economic development process.Promoting the reform and development of financial system is the inevitable choice of China’s economic transformation and modernization constantly deepening.