CAJ | 학술논문

20世纪80年代以来的金融创新,所取得的规模是惊人的,对金融市场和金融风险的影响已经超越了人们的想象。2008年金融危机的爆发使得金融创新受到了人们的质疑,部分学者开始讨论其对金融和经济的冲击和影响。本文首先阐述了国外学者关于金融创新在生产力、经济增长、金融风险和交易成本等四个方面最新的观点,论证其悖论的含义及体现。然后,从金融产品、系统风险、金融立法与完善市场等四个方面归纳总结了目前学术界与实务界对金融创新监督管理和合理使用的观点。最后,本文提出了对于化解金融创新＂悖论＂的观点和建议。
20세기80년대이래적금융창신,소취득적규모시량인적,대금융시장화금융풍험적영향이경초월료인문적상상。2008년금융위궤적폭발사득금융창신수도료인문적질의,부분학자개시토론기대금융화경제적충격화영향。본문수선천술료국외학자관우금융창신재생산력、경제증장、금융풍험화교역성본등사개방면최신적관점,론증기패론적함의급체현。연후,종금융산품、계통풍험、금융입법여완선시장등사개방면귀납총결료목전학술계여실무계대금융창신감독관리화합리사용적관점。최후,본문제출료대우화해금융창신＂패론＂적관점화건의。
Since the 1980s, financial innovation has advanced to an amazing scale, and its influence of financial market and financial risk has exceeded people＇ s imagination. In 2008, the outbreak of financial crisis made people call financial innovation into question. Some scholars have started to discuss its shocks and impacts on finance and economy. First, this article elaborates the latest viewpoints of foreign scholars on productivity, economic growth, financial risk and transaction cost of financial innova- tion, and demonstrates its meanings and embodiment of the paradox. Second, this article summarizes the academic and practical point of views on supervision and management of financial innovation and its rational use from four aspects, financial products, system risk, financial legislation and market improvement. Finally, this article proposes viewpoints and suggestions to solve the ＂paradox＂ of financial innovation.