金融创新系统研究
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摘要
本文综合运用系统科学、创新经济学、发展经济学和金融学的原理和方法，对金融创新系统进行了探索性的研究，阐述了金融创新系统的理论基础和总体架构，探讨了金融创新系统的运行机制，对金融创新系统进行了实证评价和仿真模拟，并提出了我国金融创新系统的发展策略。全文分为六大部分：
1．金融创新系统的理论基础。对金融发展理论、创新经济理论和CAS理论进行了综述，为金融创新系统的理论和实证研究提供了理论依据。
2．金融创新系统的总体架构。明晰了金融创新系统的概念，分析了金融创新系统的内涵和特征，明确了金融创新系统的主体和要素，探讨了金融创新系统的一般结构和功能结构。最后，在分析金融创新系统一般环境和具体环境的基础上，阐述了金融创新系统的功能。
3．金融创新系统的运行机制。运用CAS理论和方法，结合金融创新的特点，研究了金融创新系统的创生机制和成长机制，从而分析了金融创新系统从无到有，从小到大，从微观主体到整体涌现的运行机制。然后，进一步对金融创新系统的反馈机制进行了研究，并分析了金融创新系统主体之间以及金融创新系统与环境之间的相互作用关系。
4．金融创新系统的绩效评价。构建了金融创新系统评价体系，运用两阶段DEA模型，对世界37个国家金融创新系统的绩效进行了实证评价。实证评价的主要结论为：市场主导型的发达金融系统比银行主导型的发达金融系统更有利于提高金融创新系统的金融效率；对于经济高增长而金融不发达的发展中国家而言，加大金融创新系统投入，是增加金融创新系统的金融产出，进而增加经济产出的重要途径。
5．金融创新系统的实证与仿真。在对中国金融创新系统进行实证分析的基础上，对金融创新系统的运行过程进行了仿真模拟。仿真模拟的主要结论是：合作创新比独立创新更有利于金融创新系统的发展；金融创新主体间的合作必然导致创新网络的涌现；独立创新会促使金融结构向寡头垄断演化，合作创新会促使金融结构向垄断竞争演化；垄断竞争比寡头垄断更有利于金融创新系统的发展；金融创新系统中，合作与竞争共存；金融创新系统的运行和演化是各类金融创新系统主体共同作用的结果。
6．金融创新系统的发展策略。描述了我国金融创新系统的演化路径，指出了我国金融创新系统建设与发展中应注意的问题，并根据评价体系和仿真模拟的结论，提出了余融创新系统的管理策略、制度策略和技术策略。
Applying principles and methods of systems science, innovation economics, development economics and finance, this dissertation carries on the exploring research on financial innovation systems and focuses on the conceptual framework, the operational mechanism, the empirical measurement and the development strategies of financial innovation systems. The following six parts are included:
1. The basic theories of financial innovation systems. This part introduces the financial development theory, innovation economic theory and complex adaptive system (CAS) theory and analyses their inspiration to our research on financial innovation systems.
2. The conceptual framework of financial innovation systems. This part circumscribes the implications of financial innovation system, and then presents its properties, its agents, its factors, its general and functional structure, its general and specific environment and its function.
3. The operational mechanism of financial innovation systems. Employing CAS and binding the properties of financial innovation, this part explores the creation mechanism and the growth mechanism of financial innovation systems and describes its growing from small to big, from weak to strong, from microcosmic agents to macrocosmic emergence phenomena. Then the feedback mechanism of financial innovation systems is discussed and the reciprocity between the agents and between the financial innovation system and its environment.
4. Efficiency Measurement of financial innovation systems. Indicator system of financial innovation systems assessment is presented and data envelopment analysis (DEA) is employed in empirical measurement of financial innovation system. It is shown that Market-based financial systems are more propitious, to financial innovation systems than Bank-based financial systems; if financial output and economic output wants to be increased, input should be increased in developing countries with high growth and undeveloped finance.
5. Simulation of financial innovation systems. Investigating the status of financial innovation systems in China, the running of financial innovation systems is simulated. The conclusions of simulation are following: corporative innovation is better than independent innovation in financial innovation systems; corporative innovation can bring on the mergence of networks; corporative innovation reflects on Monopolistic competition and independent innovation reflects on oligopsony; coexistence of cooperation and competition is in the financial.innovation systems; the running and developing of financial innovation systems are the results of the interaction effects between innovation agents.
6. The development strategy of financial innovation systems. Firstly, this part describes the evolutionary track of financial innovation system. Then the conditions and characteristics of financial innovation systems are analyzed and its path is pointed. Lastly, the management strategies, the institutional strategies and the technical strategies of financial innovation systems are presented.
1．金融创新系统的理论基础。对金融发展理论、创新经济理论和CAS理论进行了综述，为金融创新系统的理论和实证研究提供了理论依据。
2．金融创新系统的总体架构。明晰了金融创新系统的概念，分析了金融创新系统的内涵和特征，明确了金融创新系统的主体和要素，探讨了金融创新系统的一般结构和功能结构。最后，在分析金融创新系统一般环境和具体环境的基础上，阐述了金融创新系统的功能。
3．金融创新系统的运行机制。运用CAS理论和方法，结合金融创新的特点，研究了金融创新系统的创生机制和成长机制，从而分析了金融创新系统从无到有，从小到大，从微观主体到整体涌现的运行机制。然后，进一步对金融创新系统的反馈机制进行了研究，并分析了金融创新系统主体之间以及金融创新系统与环境之间的相互作用关系。
4．金融创新系统的绩效评价。构建了金融创新系统评价体系，运用两阶段DEA模型，对世界37个国家金融创新系统的绩效进行了实证评价。实证评价的主要结论为：市场主导型的发达金融系统比银行主导型的发达金融系统更有利于提高金融创新系统的金融效率；对于经济高增长而金融不发达的发展中国家而言，加大金融创新系统投入，是增加金融创新系统的金融产出，进而增加经济产出的重要途径。
5．金融创新系统的实证与仿真。在对中国金融创新系统进行实证分析的基础上，对金融创新系统的运行过程进行了仿真模拟。仿真模拟的主要结论是：合作创新比独立创新更有利于金融创新系统的发展；金融创新主体间的合作必然导致创新网络的涌现；独立创新会促使金融结构向寡头垄断演化，合作创新会促使金融结构向垄断竞争演化；垄断竞争比寡头垄断更有利于金融创新系统的发展；金融创新系统中，合作与竞争共存；金融创新系统的运行和演化是各类金融创新系统主体共同作用的结果。
6．金融创新系统的发展策略。描述了我国金融创新系统的演化路径，指出了我国金融创新系统建设与发展中应注意的问题，并根据评价体系和仿真模拟的结论，提出了余融创新系统的管理策略、制度策略和技术策略。
Applying principles and methods of systems science, innovation economics, development economics and finance, this dissertation carries on the exploring research on financial innovation systems and focuses on the conceptual framework, the operational mechanism, the empirical measurement and the development strategies of financial innovation systems. The following six parts are included:
1. The basic theories of financial innovation systems. This part introduces the financial development theory, innovation economic theory and complex adaptive system (CAS) theory and analyses their inspiration to our research on financial innovation systems.
2. The conceptual framework of financial innovation systems. This part circumscribes the implications of financial innovation system, and then presents its properties, its agents, its factors, its general and functional structure, its general and specific environment and its function.
3. The operational mechanism of financial innovation systems. Employing CAS and binding the properties of financial innovation, this part explores the creation mechanism and the growth mechanism of financial innovation systems and describes its growing from small to big, from weak to strong, from microcosmic agents to macrocosmic emergence phenomena. Then the feedback mechanism of financial innovation systems is discussed and the reciprocity between the agents and between the financial innovation system and its environment.
4. Efficiency Measurement of financial innovation systems. Indicator system of financial innovation systems assessment is presented and data envelopment analysis (DEA) is employed in empirical measurement of financial innovation system. It is shown that Market-based financial systems are more propitious, to financial innovation systems than Bank-based financial systems; if financial output and economic output wants to be increased, input should be increased in developing countries with high growth and undeveloped finance.
5. Simulation of financial innovation systems. Investigating the status of financial innovation systems in China, the running of financial innovation systems is simulated. The conclusions of simulation are following: corporative innovation is better than independent innovation in financial innovation systems; corporative innovation can bring on the mergence of networks; corporative innovation reflects on Monopolistic competition and independent innovation reflects on oligopsony; coexistence of cooperation and competition is in the financial.innovation systems; the running and developing of financial innovation systems are the results of the interaction effects between innovation agents.
6. The development strategy of financial innovation systems. Firstly, this part describes the evolutionary track of financial innovation system. Then the conditions and characteristics of financial innovation systems are analyzed and its path is pointed. Lastly, the management strategies, the institutional strategies and the technical strategies of financial innovation systems are presented.
引文
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