我国两种金融结构体系运行效率考察

笔者立足对金融在经济增长中配置资金和提供服务这一核心功能进行考察，通过对我国金融运行的实证检验和分析发现，以银行中介和资本市场划分的两种金融结构各有优势，只要能够满足金融资源高效配置的金融结构都符合经济发展的需要，不必对金融结构进行人为的割裂，我国的金融体系存在着转化投资的高效率和资源配置的低效率这样一对突出矛盾。主要的原因是金融资源的配置失当，解决问题的关键是要对金融体系进行市场化改革并完善基础设施建设。

An Investigation of the Efficiency of Two Kinds of Financial Structure Systems in Our Country

This paper studies the core function of finance in distributing funds and providing services in economic growth. Through Empirically examining and analyzing the financial functioning of our country, it is found both kinds of financial structures divided by bank medium and capital market have their advantages. Any financial structure that can distribute financial resources efficiently can meet the need of economic development and it isnt necessary to divide financial structures artificially. The main reason for the contradiction between the high efficiency in transforming investment and the low efficiency in distributing resources in our country's financial system is the improper distribution of financial resources. The key to solving the problem is to carry out the market-based reform of the financial system and perfect infrastructure construction.