金融改革應全力發展雙軌金融中介

Financial Reforms Should Stress Dual Financial Intermediations

沈中華(Chung-Hua Shen)

《國家政策季刊》 3卷4期 (2004/12) Pp. 1-28

https://doi.org/10.6407/NPQ.200412.0001

摘要

本文強調一國必須同時重視雙軌金融，即銀行金融中介與股權金融中介，這兩者在金融危機時，常成為互補。這兩者如果要成功，必須有良好的政府治理，且同時重視小股東保護及債權人保護。就發展銀行方面，我們必須瞭解銀行要大的目的，必須有5項特色，小銀行則必須找到自己利基，就股權市場言，必須具備市場特性、證交所特性及國家特性。

關鍵字

雙軌金融中介 ； 銀行金融中介 ； 股權金融中介 ； 政府治理

並列摘要

This paper emphasizes that a country should emphasize the dual financial system at the same time, i.e., emphasizing the banking financial intermediation and equity financial intermediation. These two financial intermediations are complementary during the financial crisis. The factors to achieve successful banking and equity financial intermediations is to have good government governance as well as emphasizing small shareholder protection and debt holder protection. In the banking financial intermediation, we need big and small banks. This report suggests five criteria to evaluate a successful big bank. With respect to the small bank, it needs to find its niche. Turning to the case of equity market, this paper suggests to have market feature, stock exchange feature and country nature.

並列關鍵字

dual financial intermediation ； banking financial intermediation ； equity financial intermediation ； government governance