日、德融资模式比较及其中国融资模式的选择

美国金融危机使得人们必须重新审视融资模式,而前人对此的研究文献重点放在两种融资模式的比较上,其实更应该研究与我国融资模式相似的日本和德国的融资模式。本文通过比较日德融资模式在融资市场全面发展程度、间接融资市场和直接融资市场的联系程度以及政府政策导向的差异,解释了20世纪90年代以来日本和德国经济表现的差异,对我国融资模式的选择提出一些建议。

Japan &Germany finance mode comparison and China financing mode selection

The US financial crisis causes us to have to research t financing pattern again, but predecessor emphasis the difference of two kind of financing patterns, actually we should study Japan and Germany＇s financing pattern which are similar to our country finances pattern. Through contrasting Japan and Germany financing pattern in full scale development degree of the financing market, relation degree of the indirect financing market and the direct financing market as well as the government policy guidance difference, this article explained since 1990s Japanese and the German economy performance difference, put forward some proposals for the choice of our country.