CAJ | 학술논문

我国＂十二五＂规划提出＂建设上海国际金融中心＂的战略目标,但与传统国际金融中心相比,上海仍存在一定差距。其中一个制约上海发展的因素是我国资本项目未开放,这在一定程度上阻碍了资本流动,影响外资金融机构通过集聚效应提升竞争优势。本文以QFII数据为样本分析资本项目开放与金融机构集聚之间的关系,结果显示：资本项目在目前有限的开放度下,对上海金融机构的集聚有积极影响,有助于上海国际金融中心的形成。
아국＂십이오＂규화제출＂건설상해국제금융중심＂적전략목표,단여전통국제금융중심상비,상해잉존재일정차거。기중일개제약상해발전적인소시아국자본항목미개방,저재일정정도상조애료자본류동,영향외자금융궤구통과집취효응제승경쟁우세。본문이QFII수거위양본분석자본항목개방여금융궤구집취지간적관계,결과현시：자본항목재목전유한적개방도하,대상해금융궤구적집취유적겁영향,유조우상해국제금융중심적형성。
China＇ s 12th ＂Five - year Plan＂ has set ＂construction of Shanghai International Financial Center＂ as a strategic target. However, compared with traditional international financial centers, Shanghai still lags behind. One factor which restrains the development of Shanghai would be partial openness of capital account as it hinders the capital flow and hampers the financial institutions to promote their competitive advantages through agglomeration effect. 1＂his article studies the relationship between openness of capital accounts and the agglomer- ation effect by empirical analysis based on QFII data, the results indicating that it improves the agglomeration effect of financial institutions given the limited openness of capital accounts and help to form the Shanghai international financial center.