西方金融创新理论演变综述

200710215JournalofShandongInstituteofBusinessandTechnologyOct.2007Vo.l21No.5[]20070314[],1982,,,,,()[e-mail]邵传林(,730020)[]介绍了金融创新理论的演变过程从技术推进论到金融中介论,再从金融中介论到当代金融创新论指出,随着西方主流宏观经济学的研究逐渐计量化模型化,用博弈论行为金融学试验金融学来诠释金融创新必将成为金融创新理论的未来发展趋势[]金融创新;金融理论;不完全市场理论;金融史[]F830.2[]A[]16725956(2007)05008005OntheEvolutionofWesternFinancialInnovationTheorySHAOChuanlin(SchoolofFinance,LanzhouCommercialCollege,Lanzhou730020,China)Abstract:Thispaperintroducestheevolutionprocessoffinancialinnovationtheory,fromtechnicaladvancementtheorytofinancialintermediarytheory,furthermore,fromfinancialintermediarytheorytofinancialinnovationtheory.Italsopointsoutthatitwillbethedevelopmenttendencytousegametheory,behaviorfinanceandexperimentalfinancetoexplainfinancialinnovationtheory,withwesternmainstreammacroeconomicsresearchdevelopingtoquantificationandsimulation.Keywords:financialinnovation;financetheory;imperfectmarkettheory;financialhistory2050,,,,,,,,,,,(FinancialInnovation)(Innovation),,,:,,,,,80,,[1-2],:,,,,,[3],,[3]BarrousEducationSeriesInc.,:1986,,[4],,;,,[4]50,??,,,(20502080)()THHannonJMMcDowell,2070,,,,,,,,,24;,,,,[5],,()MiltonFriedman:,2070,,,2070NOW,,,2070,20702080[6]()SLGreenbumCFHaywood,,,,,,81,,,,2070[7]()JGurleyEShaw,,,Shaw,,,,,[8],,,()WLSilberSilber,,,,[9],,:,,,,,,,Silber,,,,,[7]Silber,1970~198260%(),,,DNorthLEDaviesRScylla,,20,,,,,,,[3],,,,,,,,,,,()EJSilber,,,,,,,,,82,,,,Silber,,,,,[8]Silber,,[4]()JRHicksJNiehans1976,:,;Hicks,:,,;,;,,[7],,,,,(2080)2080,,,(),Niehans,DufeyGiddy,Llewellyn,VanHome,DesaiLow,RossNiehans,,[10]DufeyGiddy,,,Llewellyn,,,[10]DesaiLow,,,,,,,,[11]Ross,,,,,[10](),,,Pesendorfer:;83,,,[11-12],,,(),,PhilipMolyneuxNidalShamroukh,,,,,,,[11],,:,,[13],,,(),,207090,(),,,,,,,,;,,,,(),,,,,:,,[14],,()207070,,,,,(),,,,()(),,,WTO,,,,,,,,,,,,,(下转第107页)84,,,,(),4,,,,16[9],,20(1919),,;:,,;:,;:,[3],,,,,,[][1].[J].,2004,15(2):210-211.[2].21[J].:,1999,(3):77-78.[3].[J].:,2000,22(2):100.[4],.[J].,2006,17(3):367-368.[5].[D].:,2000.[6].[J].:,1999,(2):136-139.[7],,.[J].:,2004,(3):169.[8].[N].,2005-12-12(1).[9].[J].,2006,17(3):471.[:](上接第84页)[][1].[M].:,2006.[2].[M].:,1990.[3].20:[M].:,2003.[4].[M].:,2001.[5].-[M].:,1997.[6].[M].:,2002.[7],.[M].:,2005.[8].[M].:,2003.[9]Silber.Theprocessoffinancialinnovation[J].TheAmericanEconomicReview,1983,(4):83-103.[10].[J].:,2006,(3):175-177.[11].[J].,2002,(1):69-70.[12]Pesendorferw.Financialinnovationinageneralequilibriummodel[J].JournalofEconomicTheory,1995,65:56-79.[13]PhilipMolyneux,NidalShamroukh.FinancialInnovation[M].London:JohnWiley&SonsLtd,1999.[14].:[M].:,2004.[:]107