金融抑制_路径依赖与中国渐进改革中制度性公共风险.pdfVIP

( ) 复旦学报 社会科学版 2002 年第 4 期 FUDAN JOURNAL ( Social Sciences) No. 4 　2002 金融抑制、路径依赖与中国渐进改革中 的制度性公共风险 卢文鹏 (复旦大学 经济学院 ,上海 200433) 　　[摘 　要] 　在渐进改革的逻辑框架下 ,政府采取了一系列的金融抑制措施保证国有企业获得大量社 会资源。金融抑制不仅导致了资源配置的扭曲和效率损失 ,更重要的是通过转型期风险的转嫁机制而自 我强化 ,具有很强的路径依赖性质。改革过程中的特殊制度安排使制度性公共风险得以大量积累 ,并开 始逐步向财政领域集中。防范和化解制度性公共风险的根本途径在于放松管制 ,建立起市场对公共风险 的分摊机制。 [ 关键词] 　金融抑制 　路径依赖 　制度性公共风险 ( ) [ 中图分类号] 　F830 ;F810. 2 　[文献标识码] 　A 　[文章编号] 　0257 0289 2002 04 0008 008 Financial Inhibition , Ways and Means of Reliance , and Institutional Public Risks in China ’s Progressive Reformation Lu Wenpeng ( ) College of Economy , Fudan University , Shanghai 200433 Abstract : Within the logic framework of progressive reformation , the government has taken a series of finan cial inhibiting measures to ensure substantial social resources for the stateowned enterprises. Financial inhibi tion will not only lead to distortion of resources allocation and loss of efficiency. What ’s more important is that it is characterized by very obvious approach reliance , as it reinforces itself by shifting mechanism by means of transitonal risks. The adoption of special regulations in the course of reformation has resulted in huge accumu lation of institutional public risks which have started to make their way into the field of finance. The fundamen tal way to prevent and d