金融体系与法律变革

大量研究表明运行良好的金融体系能促进经济增长。法与金融理论提出法系的不同决定了不同的投资者保护水平,进而指出特殊的法律条款、契约履行机制和信息披露系统影响着金融发展,从而影响着经济的增长。世界银行专家Beck, Demirguc-Kunt和Levine通过正式的经济计量方法和历史案例研究验证了各种解释金融发展制度差异的历史因素,研究结论支持了法与金融观点,进一步证实了法律传统与金融发展有着密切的联系。由此给我们的启示是:在我国这样一个法律体系还很不健全的转型经济国家,为促进经济的发展应进行必要的法律变革。

Finance institution and law reformation

A great deal of research indicate that finance institutions working well can accelerate economic growth. The law and finance view provide that the difference of legal system decides the difference of investor protection level, go further to point out that special law item and contract fulfilling mechanism and message announcing system affect finance development, thereby affect economic growth. World bank specialist Beck, Demirguc-Kunt and Levine study and prove kinds of historical factors throwing light on the difference of finance development system by using formal economic measure and historical cases, investigation conclusion supports the law and finance view, go further to affirm that legal tradition is closely relative to finance institutions. These inspire us that our country having no perfect legal system and economy transforming must reform its legal system to accelerate economic growth.