浙江大学学报:人文社会科学版
浙江大學學報:人文社會科學版
절강대학학보:인문사회과학판
Journal of Zhejiang University(Humanities and Social Sciences)
2011年
3期
81~90
,共null页
空盘 现水 规元买卖 宁波钱庄 金融投资
空盤 現水 規元買賣 寧波錢莊 金融投資
공반 현수 규원매매 저파전장 금융투자
short contracts; premiums and discounts; guiyuan trade; Ningho money shops; financial investment
不能以贷款有无投向近代新式企业作为是否为商业银行的评判标准。按照现代金融学理论,19世纪50年代在实施了过账制度以后的宁波钱庄就是本土商业银行。近代宁波钱庄的空盘交易属于纯粹的虚拟经济范畴,与现代金融投资交易相当接近,如:有固定的交易对象、交易场所;现金结算,具备复杂的交易层次与网络,信用交易特性明显;有做空机制,交易规模显著扩大;具备平仓制度、经纪人制度、佣金制度和最后交易日制度。近代宁波钱庄的空盘市场属于一种货币远期,但尚未发展到期货阶段。基于19世纪中期传统金融向近代金融转型的时空背景,可以认定,近代宁波金融市场的空盘交易是一个了不起的金融创新,它是中国最早的金融投资工具。
不能以貸款有無投嚮近代新式企業作為是否為商業銀行的評判標準。按照現代金融學理論,19世紀50年代在實施瞭過賬製度以後的寧波錢莊就是本土商業銀行。近代寧波錢莊的空盤交易屬于純粹的虛擬經濟範疇,與現代金融投資交易相噹接近,如:有固定的交易對象、交易場所;現金結算,具備複雜的交易層次與網絡,信用交易特性明顯;有做空機製,交易規模顯著擴大;具備平倉製度、經紀人製度、傭金製度和最後交易日製度。近代寧波錢莊的空盤市場屬于一種貨幣遠期,但尚未髮展到期貨階段。基于19世紀中期傳統金融嚮近代金融轉型的時空揹景,可以認定,近代寧波金融市場的空盤交易是一箇瞭不起的金融創新,它是中國最早的金融投資工具。
불능이대관유무투향근대신식기업작위시부위상업은행적평판표준。안조현대금융학이론,19세기50년대재실시료과장제도이후적저파전장취시본토상업은행。근대저파전장적공반교역속우순수적허의경제범주,여현대금융투자교역상당접근,여:유고정적교역대상、교역장소;현금결산,구비복잡적교역층차여망락,신용교역특성명현;유주공궤제,교역규모현저확대;구비평창제도、경기인제도、용금제도화최후교역일제도。근대저파전장적공반시장속우일충화폐원기,단상미발전도기화계단。기우19세기중기전통금융향근대금융전형적시공배경,가이인정,근대저파금융시장적공반교역시일개료불기적금융창신,타시중국최조적금융투자공구。
Loaning or not to modern new-type enterprises should not be a criterion for judging a commercial bank. According to modern financial theory, Ningbo money shops were native commercial banks after the implementation of the posting system in the 1850s. The modern short contracts of Ningbo money shops fell into a pure suppositional economic category,fairly close to modern financial investment transactions with fixed trading partners and trading places, cash settlement,complex transaction levels and networks, distinct credit transaction characteristics, short-mechanism and larger transactions, complete with open system, broker system, commission system and the last trading day system. The short contract market of modern Ningbo money shops belonged to a monetary far date,but did not develop into futures. Against the background of mid 19th century when the traditional finance transformed to a modern one,we believe that the short contracts of Modern Ningbo financial market were a great financial innovation and the first financial investment instrument in China.