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我国金融改革虽然取得了一定的成绩,但仍未突破以银行为主导的金融发展路径,存贷款利差扩大成为利率市场化的阻碍因素。本文运用金融发展的路径依赖理论对此进行了分析,指出在实行赶超型金融发展战略中,为不被旧的路径锁定,使利率市场化顺利进行,减少金融改革中银行业的风险,必须在既有路径中边发展边修正改造,变银行主导型为资本市场主导型金融体系,促使政府主导的供给型金融向市场主导的需求尾随型金融转变。
Although some achievements have been made in China’s financial reform, it has not yet broken through the path of banking-led financial development. The expansion of interest-rate spreads has become an impediment to the marketization of interest rates. This article uses the theory of path dependence of financial development to analyze this. It points out that in order to avoid being locked by the old path, marketization of interest rate smoothly and reduce the risk of banking in financial reform in the strategy of catching up and surpassing financial development, In the existing path, while amending and reforming while developing, the Bank-led financial capital market-led financial system led to a market-led demand-driven financial transformation of the government-led supply-oriented finance.