经济金融化及其对我国经济结构调整的影响分析

经济金融化对我国经济结构调整与变化的影响主要体现在支持效应与约束效应这两个方面.就支持效应而言,货币市场的发展以及金融中介机构的多样化有利于改善微观经济主体的资本结构与公司治理机制,有利于促进产业结构的高级化.就约束效应而言,金融因素的制约作用表现在:资金使用效率的低下、金融资产质量低劣,资金的配置效率也不高.另外,由于金融结构的变动相对滞后于经济结构的调整与升级,因而不仅难以适应经济发展的深层次需要,而且也没有发挥金融推动经济进程的主动性.

Analysis on Financialization and its Effect on Economic Structural Reform

The effect of financialization on economic structural reform is manifested in support effect and restraint effect. As for support effect, the development of money market and the variation of financial intermediaries help promote the capital structure and corporate governance, and also promote upgrading of the industrial structure. However, restraint effect finds its effect in low efficiency of fund utilization and allocation and low- grade financial assets. In addition, the finance structure alters slower than the economic structure, so it can hardly match the deep economic structure reform, nor cart it take the initiative in developing the economy.