| 政府主导还是市场主导--我国转轨金融运行机制的评价研究 |
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| 引用本文： | 沈能,何婷英. 政府主导还是市场主导--我国转轨金融运行机制的评价研究[J]. 中央财经大学学报, 2006, 0(1): 39-44 |
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| 作者姓名： | 沈能 何婷英 |
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| 作者单位： | 大连理工大学21世纪发展研究中心 大连116024(沈能)，温州大学 温州325035(何婷英) |
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| 摘 要： | 转轨过程中,我国金融运行机制是采取政府主导还是市场主导模式是经济学界争论的焦点,文章应用ARCH类模型对我国金融运行机制进行实证研究,结果表明我国金融运行机制与西方市场经济国家存在显著区别。在我国转轨的特定阶段,金融系统无法依靠自身的力量达到稳定状态,只有靠外部力量的非市场干预才能实现金融系统的平稳运行。目前在金融系统自身不具备自我稳定的功能条件下,政府的外部干预是金融系统平稳运行的前提,否则会导致金融系统陷入剧烈的波动之中。
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| 关 键 词： | ARCH 金融系统 外部干预 市场失灵 |
| 文章编号： | 1000-1549(2006)01-0039-06 |
| 收稿时间： | 2005-10-19 |
| 修稿时间： | 2005-10-19 |
Government Guided or Market Guided--A Study on Evaluation of Mechanism of Finance in China during Innovation |
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| SHEN Neng,HE Ting-ying. Government Guided or Market Guided--A Study on Evaluation of Mechanism of Finance in China during Innovation[J]. Journal of Central University of Finance & Economics, 2006, 0(1): 39-44 |
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| Authors: | SHEN Neng HE Ting-ying |
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| Affiliation: | SHEN Neng HE Ting-ying |
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| Abstract: | During innovation,the mechanism of finance is the core in the circle of economics.In this paper,we make a qualitative analysis to study the mechanism using ARCH model.It indicates that there is obvious difference of financial mechanism between western market economy and ours.In china,finance can not reach stable condition by its own force,except for the exterior force.Under the condition of incapability of financial system to stabilize itself,exterior intervention on financial system is the premise for stable function,otherwise,it will plunge into fluctuation. |
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| Keywords: | ARCH Financial system Exterior intervention Failure of market |
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