技术进步、结构停顿与金融发展:以中国和俄罗斯为例

Technological Advances,Structural Stagnation and the Development of Financial Sectors-An Example of China and Russia

技术进步对于推动金融部门发展来说,意义和作用毋庸置疑。然而按照传统金融发展理论,金融发展同时也必然伴随金融结构改变,实际情况却并非如此。中国和俄罗斯都是从计划经济向市场经济过渡的国家,金融结构呈现先改变、后停顿的状态,而停顿的时间恰恰是在金融技术日新月异的进步阶段。比较分析可以发现,技术进步有助于金融部门提高效率,而这恰恰是稳定既有金融结构的前提条件。大约20年的时间里,中国和俄罗斯都是依靠技术进步实现金融发展,而不是依靠结构优化促进金融发展。

The classical theory that the development of financial sector should synchronize with the change in financial structure is disproven by the phenomenon that both China and Russia’s financial structures took a change before slumping into stagnation co-occurring with rapid advancement of financial technology.The streamlining effect of technological advances on the financial sector is the precondition for the existing financial structure to be stabilized.Technological advances,in stead of structural optimization,have been the dominating factor behind both countries’financial development for approximately 20 years.