Division Of The Network, Research And Financial System Evolution

Since phenomena of financial prosperity and financial crisis are increasingly outstanding in the contemporary economic life, researchers pay close attention to the relationship between finance and economy in recent years. After reviewed the existing documents, it can be found that a large number of empirical studies verify interrelation between the financial development and the economic growth in the meaning of statistics, and theoretical conclusions in dispute do not give satisfied answers to the issue, on which how they affect each other. But this aspect research work for the issue is just what is needed urgently in reforming for financial system of country in the economic transition period. Under the research background of the necessity to continue theoretical research and the urgency in directing reform, the thesis attempts to break through normal form of financial development theory, and regard financial system evolution as breach in studying the issue.There are very big differences in the financial systems of different countries. In the comparative financial system research, some researchers divide them into two kinds of patterns as the bank-based system and the market-based system, and investigate the different economic influence of financial systems. But the two general patterns don't suit many national financial systems including China, moreover the constant convergent change has been appeared in the financial system of the representative country defined in comparative research. Therefore the complicated comparative research based on the models can't reveal the inherent decisive factors in gradual progress of different financial systems. Be lacking in enough explanation of financial system evolution, it needs researchers to deeply understand economic influence of financial system and financial system evolution.How the financial system influences economic can be investigated by comparing with efficacy of economic growth. The increasing returns with the long-term economic growth are exactly the essential feature in outspread of network for division of labor on the basis of specialization. Be choosing a new angle of view, which is the network of division of labor on the basis of specialization, as a breakthrough in analyzing the economic influences of financial system in it, the thesis probes into financial functions and evolution trends of system inside analytical framework of division of labor theory, to expound the inherent logic of the financial system evolution through analyzing dynamic connection between finance and economy, and to dissertate emphatically the inherent relations among increasing returns to specialization, trade expenses, institution arrangements, network of division of labor and evolution of financial system.The appearance of the financial system is not a result of intended choice on the basis of comparing advantages with disadvantages. Quite different financial market or organizations in different countries have possibly fulfilled the similar functions.Various kinds of financial organ and the financial products are carriers that performance the financial function. Regard financial system as whole, it helps to well be understood how financial system to fulfill function. From the financial system aspect, no matter it is a natural gradual progress or policy guide one, in order to meet the needs of economy constantly, the financial system should be fulfilled and perfected its function better.The functions of the financial system are operated during the course of financial intermediary. The thesis focuses on the intermediary course of the financial system to set up the simplification model of an endogenous evolution. Proceeding from functions of the financial system, the model can be built an analytical framework on endogenous evolution of division of labor level as well as product types and quantity for financial products in financial system. Different from the former macroscopical tradition in research financial development, the thesis investigates foundation and restriction factor...