ꆡ즽/컷/닆/뺭/듳/톧/톧/놨JournalofShanXiFinanceandEconomicsUniversityJun.,쓪6퓂뗚22뻭ꆡ뗚3웚ꆡꆡ[햪ꆡ튪]1883쓪평짏몣놬랢뛸늨벰좫맺뗄뷰죚캣믺쫇훐맺뷼듺쪷짏ퟮ듳뗄튻듎캣믺ꆣ캣믺훐듳늿럖뷰죚믺릹떹뇕,뛸욱뫅퓲ꆰ뛀짆웤짭ꆱ,웤풭틲튻쫇욱뫅뗄ퟜ럖탐훆,뛾쫇욱뫅놾폫1883쓪쪵쳥놾뗄믬뫏돉뎤,죽쫇쓚뿘믺훆붡좫,쯄쫇늻뛏뗄튵컱뒴탂ꆣ쯼쇴룸컒쏇뗄웴쪾:헾뢮펦폐쿠맘램훆,틔뿘훆춶믺;뷰죚믺릹짨훃튪폫뺭볃쮮욽쿠튻훂;뷰죚믺릹튪훘쫓튵컱뷡릹뫏샭탔,뷰릹훾럀랶럧쿕믺훆;뷰죚믺릹튪쫊뛈벯훐,쳡룟럀폹럧쿕뗄쓜솦ꆣ[맘볼듊]1883쓪;ꆡ잮;ꆡ욱뫅;ꆡ뷰죚캣믺[훐춼럖샠뫅\]ꆡ[컄쿗뇪쪶싫\]Aꆡ[컄헂뇠뫅\]1007-9556(2000)03-0058-03죚OntheExchangeBankandPrivateBankinFinancialCrisisin1883캣KONGXiang-yi믺(ShanxiFinanceandEconomicsUniversity,Taiyuan030006,Shanxi,China)Abstract:TheFinancialcrisiswhichbrokeoutinShanghaiChinaandaffectedalloverthe훐뿗ꆰmaintainpersonalintegrityduringchoatictimesꆱ(Itmeanseverythingwentwell).Therewerefourreasonsforthegoodeffect:1ꆢexchange뗄쿩틣bankbelongstothesystemofgeneralbankandbranchbank;2ꆢthecapitalofexchangebankandsubstantialcapitalweregrowingupatthesametime;3ꆢIthadahealthyinternalcontrolmechanism;욱ꆡꆡ4ꆢ:1ꆢtheꛠ즽governmentshouldsetupcorrespondinglegalsystemsoastocontrolspeculation;2ꆢtheestablishment컷offinancialinstituteshouldbethesameaseconomiclevel;3ꆢthefinanciolinstituteshouldattach뫅닆뺭importancetotherationalityofthestructureofprofessionalwork;4ꆢconstructthemechanismsoasto듳takeprecautionsagainstrisks;5ꆢtheestablishmentoffinancialinstituteshouldappropriately톧폫첫concentratedsoastoraisetheabilityfortakingprecautionsagainstrisks.풭KeyWords:intheyear1883;ꆡprivatebank;ꆡexchangebank;ꆡfinancialcrisis01883쓪(맢탷뻅쓪)평짏몣놬랢뛸늨벰좫맺뗄뷰죚캣믺,쫇췭쟥쓋훁웹뷱솽냙잮30폠쓪볤뷏듳뗄뷰죚캣믺횮튻,쯼쫇튻듎펰쿬뻞듳,짦벰랶캧맣랺뗄뷰죚캣믺ꆣ0튻ꆢ캣믺뗄놬랢폫퇝뇤06ꛡ(튻)캣믺평짏몣놬랢1883쓪쓪돵,뷰볎볇쮿햻틲뿷쯰56췲풪뻞뿮떹뇕,잮럅뿮룸쯼뗄폐40볒,폚쫇닉좡뷴쯵듻뿮헾닟,춣횹탂듻,쫕믘뻉듻ꆣ평폚헽횵얩샺탂쓪쓪맘,욱뫅ꆢ잮ꛠ쓪훕뷡쯣럗럗듟뮹듻뿮,짌죋뷨듻컞ퟅ,틲뛸훜늻쇩,폖떹뇕20볒,떹잷뿮쿮듯짏150췲솽,잮횧독늻힡,튻쿂ퟓ폖떹뇕20볒,훁2퓂훐톮,짏몣99볒잮훐폐44볒춣튵,떼훂틸룹뷴쯵,쫐쏦늻헱,짺틢쿴쳵ꆣ쫐뎡릺싲솦캮쯵,쪹뗃볛룱놩뗸,튻ꛡ냣짌욷컞늻뗸볛30-50%,뷸뛸잣짦떽랿뗘닺훍쿺,막욱볛룱쿂뗸,뷰죚엝쒭웆쇑ꆣ훁1883쓪9퓂,쫐뎡뾴뫃뗄솽횧막욱,뾪욽막욱뫍헐짌뻖막욱놩뗸,뾪욽막욱평ퟮ룟볛260솽쿂뗸떽70솽,ퟮ훕뗸떽29솽,헐짌뻖막욱튲뗸훁34솽,폫1882쓪9퓂쿠뇈,막볛욽뻹쿂뗸87%,평폚벸뫵쯹폐잮뚼뷓쫜막욱ퟷ캪뗖톺뷸탐럅뿮,막쫐뚯떴,샛벰잮,잮룼뒦폚럧폪욮튡횮훐ꆣ훁10훐톮,폖튻룶럧놩쾮살,냑뻞춶죫랿뗘닺뫍막욱뗄듳짌죋탬죳듲랭,웤틲랿뗘닺컞램췑쫖,막욱쿂뗸,떽웚뗄250폠췲솽뷨뿮컞램쟥뎥,잣샛잮22볒ꆣ훁11퓂,쇭튻캻쿻쪧붭듳짌죋뫺맢?,캪뗖훆췢짌냑돖짺쮿쎳틗뛸뛚믽뗄14000폠냼짺쮿,틲췢맺쮿쫐늻헱,퇳짌춣횹쫕릺,듦믵즽믽,훜늻쇩,퓚쏦쇙룩훃뢯탠ꆢ뺡즥웤뗄쟩뿶쿂,늻뗃틑헛볛[쫕룥죕웚]2000-03-14[ퟷ헟볲뷩]뿗쿩틣(1941-),쓐,즽컷퇴돇죋,즽컷닆뺭듳톧떳캯쫩볇,늩쪿짺떼쪦,뎤웚듓쫂뷰죚샭싛뷌톧퇐뺿ꆣꆡꆡꆡꆡꆡꆡꆡꆡꆡꆤꆡ5ꆡ8ꆡꆤꆡ뷰죚퇐뺿
즽/컷/닆/뺭/듳/톧/톧/놨JournalofShanXiFinanceandEconomicsUniversityJun.,20002000쓪6퓂뗚22뻭ꆡ뗚3웚돶쫛ꆣ틲헢듎짺쮿쎳틗춶쪧냜,퓬돉뿷뿕,쯼쯹뛀톻욬햽헹틔뫳,놾훷틥맺볒샻폃볡뒬샻엚듲뾪뾪짨뗄뢷뾵톩볇잮떹뇕ꆣ평폚뢷뾵잮맦쒣뷏쇋훐맺뇕맘쯸맺뗄듳쏅ꆣ톻욬쎳틗뫍췢맺놾뗄쟖듳,틽웰튻쿲닰룸잮훷뗄즽컷욱뫅뫍췢맺틸탐뗄뿖죫,쪹훐맺뺭볃쿝죫쇋냫횳쏱뗘ꆢ냫럢붨뗄짮풨ꆣ췢믅,욱뫅뫍췢맺틸탐춣횹쿲잮죚춨뷰,늢쫕믘풭맺놾춨맽쎳틗랽쪽,튻랽쏦샻폃잿좨쿲훐맺쫤죫톻폐뗄뿮쿮ꆣ죧1883쓪10퓂24죕ꆶ짪놨ꆷ놨뗀ꆰ:뷼컅욬뫍쏞럄횯욷,쇭튻랽쏦샻폃쫕릺짺쮿ꆢ단튶뗈돶뿚뷺냯욱뫅틑쓢놾퓂캪쿞,붫럅돶쫐쏦횮틸냙쫽쪮췲튻컷랽맺볒,뾪쪼뛔훐맺뷸탐뺭볃싓뛡ꆣ떫헢훖싓뛡폶웰쫕맩,뇕늻퓙럅ꆣꆱ\[1\춬]쪱ꆰ놾뗘잮뮹펦컞솦쿲췢떽훐맺럢붨ퟔ좻뺭볃뫍맺쓚짌죋뗄췧잿뗖뾹,탎돉뿚맺틸탐뷨뿮뛸쫜샛,뫳헟뷷짷뗘복짙쇋쯻쏇틔췹맟뎣낶뺭볃폫쓚슽뺭볃뗄쎬뛜,뻟쳥뇭쿖퓚뛔짺쮿ꆢ단튶뺭펪뗄뛌웚듻뿮튵컱ꆣꆱ\[2\헢]퇹,놾살ퟔ짭뷰놡죵쎳틗짏뿘훆좨뫍횧엤좨뗄헹뛡,벰평듋닺짺뗄쎳틗쒦뗄잮훨좻쪧좥쫽냙췲뷰살풴횧돖,럅뿮폖폐뻞뛮닁ꆣ뫺맢?짺쮿쎳틗뇣쫇헢랽쏦뗄횤쏷ꆣ쎳틗쒦닁떹헋탎돉,솽랽벷톹,뗷뛈랦쫵,쯬훂뷟,듳엺잮볓짏짺쮿ꆢ단튶뗄탨쟳떯탔뷏킡,ퟔ좻퓖몦ꆢ헾훎뚯뗟튡냚,쟷폚춣튵ꆣ뷰죚캣믺놬랢ꆣ싒ꆢ짺닺룱뻖뗄뇤뮯뛸틽웰뗄릩룸뇤뚯,뚼믡퓬돉쫐(뛾)캣믺쿲퇘몣퇘붭췆뷸뎡볛룱뗄뻞듳늨뚯,잿뮯쇋쫐뎡뗄늻컈뚨탔,쫇뺭볃짏몣뷰죚캣믺놬랢틔뫳,평폚맇없킧펦,톸쯙쿲늻뛏늨뚯뗄훷튪풭틲ꆣ퇘붭ꆢ퇘몣벰쓚슽돇쫐싻퇓ꆣ쫜뢷뾵잮맘뇕,죋탄(뛾)춶믺쪢탐돉캪뷰죚캣믺뗄듟뮯볁튡믳펰쿬,뺩쪦퓚1884쓪쓪돵,훸쏻잮뫣탋ꆢ뫣뫍ꆢ훐컷쎳틗뗄톸쯙삩헅,닺짺쇋탭뛠펯샻믺믡,듙뫣샻ꆢ뫣풴ꆰ쯄뫣ꆱퟖ뫅떹뇕,훂쪹뺩쪦잮솬떹16뷸쇋싲냬뷗닣뗄탎돉뫍맺쓚닆뢻뗄늻릫욽럖엤,뛸늻볒ꆣ맙뢮늻뗃틑횻뫃뾿쿞훆좡틸뫍훧특떯톹살캬돖붡좫뗄쫐뎡쳥쾵폖떼훂쇋짌죋뗄춶믺횮럧쪢탐ꆣ평쫐쏦ꆣ뷰쇪틳쪵잮풣첩ꆢ풴럡ꆢ풣첩폀죽볒떹뇕,쪹폚뺭볃ꆰ믻탍ꆱ랢햹,룷탐튵훐샻죳싊닮뻠벫듳,얩듥뗃ꆰ놾쓪틸룹럇뎣춣즬,훁쟯뫳놻샛뇕킪횮볒닣볻뗼췁뗘샻죳싊뷶캪4%,쓚뗘쎳틗뗄샻죳싊뿉듯20%,돶ꆣꆱ퇯훝ꆰퟔ뫣풴떹킪뫳,쿠볌뛸떹헟,뻍놾돇볆듳킡뛸맺볊쎳틗뗄샻죳싊뿉듯40%,퇘몣짌죋욽뻹쓪샻폐쪮웟볒ꆣꆱ\[3\헲]붭폫퇯훝튻쮮횮룴,쿈뫳뫏볆잮죳싊뿉듯30%\[4\],럾컱폚짌튵뗄뷰죚튵튲믱뗃벫듳떹뇕뺹듯쇹쪮냋볒횮뛠ꆣ몺뿚평폚풴탋쮳ꆢ풴탋폀ꆢ뗄샻죳,즽컷욱뫅뗄뫮쫏쯄욱뫅캵첩뫱ꆢ캵럡뫱ꆢ캵쪢돏틢럡죽볒떹뇕,훁쪹잮쫜샛,잮쫽쒿복짙,평쪮뎤ꆢ탂첩뫱,퓚1879쓪룶헋웚뗄욽뻹샻죳싊뺹룟듯쓪잰뗄쯄쪮볒,복짙떽뛾쪮볒,튵컱복짙쇋20%ꆣ192%(쯄쓪튻웚)ꆣ웤훐캵럡뫱퓚1857-1879쓪20퓚뷰죚캣믺늨벰뗘폲삩헅뗄춬쪱,튲퇏훘펰쿬쇋쓪볤,놾삩헅놶ꆣ\[5\룟]뛮펯샻폕믳,룼볓듌벤쇋룷뗘뗄뺭볃ꆢ짧믡짺믮ꆣ평폚잮떹뇕,틸룹틲횮폺퇘몣짌죋뗄춶믺쟣쿲,춶믺횮럧뇩늼폚뺭볃뗄랽랽쏦뷴,쫐쏦룼볓쿴쳵,샛벰룷탐룷튵ꆣ죧몼훝평폚뗂?ꆢ쏦,듓짺쮿쎳틗ꆢ단튶쎳틗떽랿뗘닺춶믺,듓막욱춶믺뢷뾵솽뻞떹뇕,짏돇뗄틂짧ꆢ돱벰욤믵,쫜떽퇏떽틸퇳믵뇒춶믺,ퟮ훕랢햹떽ꆰ싴훷돽쇋럧짹틔췢쪲훘듲믷,횻폐쇣탇붻틗ꆣ뛸쟒ꆰ룷뒦탐햻뗪워췹살뷔쎴튲늻싴,싲훷뗃떽뗄튲횻쫇럧짹ꆱ뗄뎴쿻쾢뗄돌뛈ꆣ탫쿖퇳,룅늻폃욱ꆣꆱ\[4\캣]믺뗄랢햹,쪹뗃커쇖쏅췢뗄춶믺쫖뛎튲랢햹돶춬쿖듺웚믵ꆢ웚좨붻쿠샠쯆뗄만뚨쏗탐ꆢ돇뚫룷쮿탐춣튵ꆣ쮿탐쿴쳵,쪹욽뎣폃얮릤잧볛뗄풤뢶믵뿮,폐톡퓱좨폫폐쳵볾뗄쎳틗뗈탎쪽ꆣ춶폠죋뗄늭횽탐튵,욽죕폃릤쫽잧죋뗄횽탐쿝죫퇏훘믺쪢탐,쪹뗃탭뛠죋죏캪춶믺뇈웰헽뎣랽쪽ퟶ짺틢룼뗄쮥췋ꆣ춬쪱몼훝질뗄춣튵,폖쪹뗃듓쫂쿷훱ꆢ뫽볓폐샻뿉춼,짵훁냬릤튵뗄짌죋튲쟣쿲폚막믺ꆣ짡놾횽ꆢ쫩뷰ꆢ닊뮭뗈튵뗄쯄컥잧릤죋뒦폚쪧튵ힴ첬ꆣ헢쟳쒩뗄춶믺퓬돉뗄쫐뎡럧쿕틑뺭쇽헖퓚헻룶뺭볃짺킩죋ꆰ튻죕춣쫖,벴탫뢹,룼늻횪ퟷ뫎늼훃튲ꆣꆱ쪧튵믮훐,튻떩엝쒭웆쏰,뇣붫뺭볃췆죫짮짮뗄캣믺횮훐ꆣ죋쫽뗄뻧퓶,퇏훘웆뮵쇋뺭볃짧믡뗄헽뎣퓋탐,짵훁(죽)든죵뗄뷰죚쳥훆릹돉뷰죚캣믺뗄쓚퓚풭틲펰쿬떽떱쪱뗄컄뮯쇬폲ꆣ뻝볇퓘,평폚ꆰ뢷뾵떹뇕쫊펦쎳틗톸쯙삩듳뗄탨튪,캪짌튵럾컱뗄뷰죚튵뫳쫐쏦쪮럖뺽웈,벴늹뎮컄풨룳쯄뿢좫쫩틠춣튲뗃떽쇋톸쯙랢햹ꆣ듋쪱,돶쿖쇋평듓쫂뎤춾쎳틗룄횹ꆣꆱ\[3\웤]풭틲퓲쫇평폚웤뺭럑틠캪뢷뾵잷좥컞램횧퓬뛸살뗄뺭펪믣뛒튵컱뗄즽컷욱뫅,뺭펪뛒뮻튵컱ꆢ폃,쪹뗃쫩짺몮쪿훕튲쪧튵ꆣ캣믺펰쿬횮짮뿉볻튻듦럅뿮튵컱뗄잮뫍럾컱폚퇳탐뗄췢맺틸탐ꆣ헢죽냟ꆣ헟릹돉떱쪱뷰죚쳥쾵뗄죽캬횧훹ꆣ평폚짌튵쎳틗뗄뛾ꆢ캣믺뗄풭틲톸쯙랢햹,죽헟룷ퟔ헒떽쇋ퟔ벺뗄솢ퟣ횮뗣,돏죧십(튻)ꆰ믻탍ꆱ랢햹뗄냫횳쏱뗘냫럢붨뺭볃쫇캣믺틺돵킴뗀ꆰ:죕뫳몣뷻볈뾪,훐췢쎳틗헴헴죕짏,룷쪡뗄룹놾풭틲볤횮춨짌,틲죕쟷폚랱쎦ꆣ놾뗘횮짌컱,틠죕볻췺ꆤ59ꆤ
ꆡ즽/컷/닆/뺭/듳/톧/톧/놨JournalofShanXiFinanceandEconomicsUniversityJun.,쓪6퓂뗚22뻭ꆡ뗚3웚쪢ꆣꆱ\[6\짌]컱볈쪢,퓲죽헟룷폐웤럖쓚횮쫂,폈떱럖뗀퓬튲놻웈훐뛏ꆣꆰ퓧웚릤튵뗄놦맳쪱웚ꆱ튲뻍헢퇹쪧퇯,늻퓙ퟔ쿠쟖랸ꆣ훕폚탎돉퇳짌횮쫂,췢탐죎횮;좥쇋ꆣ듋뫳,틔쪢탻뮳캪쫗뗄맙쇅헆컕쇋맙뚽짌냬뗄놾늺횮쫂,잮죎횮;뛸늺폫늺횮볤,쪡폫쪡횮쫂,욱웳튵,맙쇅놾뗇뎡쇁쿠,맙쇅놾훷틥뾪쪼뎬맽쇋뫅죎횮뗄룱뻖ꆣ헢훖쿠뮥럖릤ꆢ쿠떽뫏ퟷ뗄뷰죚룱퓧웚뗄훘짌훷틥,늢쟒햼뻝쇋훐맺릤튵뮯쿈럦뗄캻뻖,폐솦뗘듙뷸쇋쎳틗뗄랢햹,떫좴퓚뷰톭뮷랽쏦훃,돉캪펰쿬훐맺뷼듺뺭볃뗄훷튪솦솿ꆣ퓬돉벫듳뗄늻뛔돆탔,탎돉뷰죚쳥훆뗄든죵탔,헢훖캣믺쪹죋쏇뛔뫏막돯벯릤튵뷰첸뮢즫뇤,횱떽든죵탔훷튪뇭쿖퓚죚뷡릹뗄늻킭뗷늻뫏샭횮훐ꆣ1885쓪ꆰ,죋쏇죔좻뿉틔뾴떽짏몣믆웒붭퇘낶뿕맘즽컷욱뫅틲웤믺릹맣랺,럾컱폚맙뢮벰짌죋믣뛒,뗄ꆢ컞폃뗄ꆢ놻럏웺뗄붨훾컯,뫍탇즢뗄?헛웳튵뗄뷧놾탛뫱,탅폾뷏뫃,뛸컼쫕폐듳솿뗄컈뚨듦뿮,돽ퟔ벺쪯ꆭꆭꆣ쯼쏇쫇릤뎧컞짹뗄폄쇩ꆪꆪꆪ닅??뛩뗘뻍럅뿮췢,죔폐쪣폠ꆣ췢짌틸탐틀췐맺췢뺭볃벰퇳탐뗄훏쾢뛸뇕뗄웳튵뗄럘쒹ꆣꆱ쿖듺쫐뎡뺭볃ퟩ횯탎쪽ꆰ릫잿폐솦뗄뺺헹뗘캻,뷰튲뷏돤풣,돉캪뷰뗄펯폠쮾훆ꆱ쎻폐돉탎뇣?췶쇋ꆣ헟ꆣ뛸잮평폚맦쒣뷏킡,탅폾늻첫룟,컼쫕듦뿮폐(뛾)캣믺훐웦쳘뗄뷰죚쿖쿳쿞,떫좴폖럾컱폚헻룶훐킡짌죋,쫇럾컱폚쫕릺짺쮿ꆢ퓚1883쓪뷰죚캣믺훐,쯹폐잮뚼쫜떽쇋돁훘단튶쎳틗믮뚯죚뗄훷쳥,뷰늻ퟣ,횻뫃틀삵욱뫅뗄듲믷,떫춬캪훐맺럢붨뷰죚튵ퟩ돉늿럖뗄욱뫅,믹뫍췢맺틸탐뗄횧돖ꆣ헢훖죚뷡릹쪹잮틗폚퓢쫜놾캴쫜떽펰쿬,짵훁퓚캣믺훐뗃떽뷸튻늽랢햹,헢릹럧쿕듲믷ꆣ듋췢,잮놾짭ퟩ횯훆뛈늻붡좫,쟣쿲폚돉1883쓪뷰죚캣믺훐뗄웦쳘뗄뷰죚쿖쿳ꆣ럧쿕춶,짵훁폚ퟔ짭횱뷓뻭죫ꆰ틸퇳ꆱ뗄춶믺믮뚯1883쓪뗄뷰죚럧뎱,잮뗄쯰쪧컞틉ퟮ듳ꆣ붭훐,헢킩죵뗣쪹쯼뫜쓑쳓췑뷰죚캣믺뗄쾮믷,뛸돉캪쓏잮뗄듺뇭뢷뾵잮퓚ꆰ뺩돇ꆢ쓾늨ꆢ뢣훝ꆢ뫾쓏ꆢ뫾뷰죚쳥쾵훐놡죵뮷뷚뫍뚯떴횮풴ꆣ놱뗈뗘쯹뾪뢷뾵룷ퟖ뫅좫탐뇕킪ꆣꆱ\[7\헲]붭뗄쇹쪮볒(쯄)췢맺퓚뮪뷰죚놾뗄춶믺뎴ퟷ잮떹뇕쇋쯄쪮컥볒,뎤붭짏폎뗄뷰죚훐탄ꆰ,뻅쪡춨췢맺퓚뮪뷰죚놾뗄춶믺뎴ퟷ튲쫇1883쓪뷰죚ꆱ뗄몺뿚,횻폐벸볒뺳폶뷏뫃뗄잮,쏣쏣잿잿뗄뛉뗄훘튪믶룹ꆣ뻝(쏀)뫂퇓쓪퓚ꆶ훐맺뷼듺짌튵룯쏼ꆷ맽쇋훐맺뗄뻉샺쓪맘ꆣ몺뿚몣맘퓚1883쓪놨룦훐튲튻쫩훐쮵,쯻닩쇋쫕님퓚붣쟅듳톧춼쫩망뗄뫍퇳탐쮵ꆰ:헢튻듎캣믺뻶늻쫇뷶뷶평뗘랽탔뗄풭틲틽웰뗄,떵낸,웤훐뫍퇳탐짏몣뢺퓰죋췾솮ꆤ엁쳘즭룸뛸쫇짏몣뷰죚럗죅뗄랴펳ꆣꆱ\[8\헢]킩뚼랴펳쇋1883쓪쿣룛뗄풼몲톷탅훐쮵떽쒳폃3000막뾪욽쎺뿳막욱뗖뗄잮튵퓢떽쇋잰쯹캴폐뗄럧놩,떹뇕돉럧쟒럸짤랶톺뷨뿮쫕릺막욱,훐맺죋룺쯦쯼싲뷸,첧룟막볛,폖췐캧뫜맣,웤뺭펪랽쪽,쯹삵틔짺듦뗄놡죵뗄뷰죚훆뛈ꆢ죋듺캪싲뷸,듓뛸냑막볛첧훁쎿막120솽냗틸,솽룶탅듻살풴쫜떽쇋럱뚨ꆣ퓂뫳폖첧룟떽260솽,뷓ퟅ싴돶,떽뫳살막볛뗸훁70뛸욱뫅뗄뺳폶쿠뛔뷏뫃,캣믺훐횻폐잮볦믣뛒솽,듎쓪캪29솽ꆣ뫺맢?뗄짺쮿춶믺튲쫇쫜떽췢맺튵컱뗄뢷뾵떹뇕,듎쓪쯤폐잫벪짽뗈쯄볒욱뫅떹뇕,퓚뮪놾뗄듲톹,ퟮ훕훂폚쪧냜뛸틽랢캣믺뗄ꆣ떫웤맦쒣쿠뛔뷏킡,풭틲춬잮튲폐늻춬ꆣꆰ횻볆뾪죽ꆢ캣믺뗄뫳맻막럖틸,늻돯췏잷떹샛ꆣ훂뫅훐뿕탩,훜늻쇩ꆣꆱ\[8\](튻)캣믺뗄뺭볃ꆢ짧믡뫳맻욱뫅퓚1883쓪캣믺훐,욱뫅짌죋풤볆떽쟯벾쫐뎡뗄1883쓪뗄캣믺,퇏훘뗘듲믷쇋훐맺쏱ퟥ릤튵뗄뛱뮯,10퓂30죕,즽컷욱뫅쫕믘쯻쏇뗄좫늿뎤웚듻랢햹,쪹뗃짺쮿ꆢ단튶뗈돶뿚쎳틗뗄뿘훆좨뺡실췢짌뿮,ퟜ뛮뎬맽100췲솽,뷷짷뗄ퟷ램틔벰춬헾뢮뗄쏜횮쫖ꆣ샻폃잮뫍짌죋솦솿뗄쿷죵,췢맺놾쫆솦뷸쟐맘쾵,쪹욱뫅폫캣믺룴샫ꆣ뢷뾵떹뇕뫳,풴럡죳욱튻늽뿘훆쇋훐맺뗄뺭볃,웤쎳틗짌욷랶캧뷸튻늽삩뫅늻뷶뷓쫕쇋뢷뾵쯹뾪냬뗄쏶헣몣맘뗄튵컱,믣뛒쏶듳ꆰ,퇳믵ꆱ돥돢훐맺맣듳뗄쫐뎡,평퇘몣춨짌뿚낶럸헣몣맘틸솽,틥짆풴욱뫅튲퓚짏몣짨솢풣럡맙틸뫅,짤쿲훐맺맣듳뗄쓚슽뗘쟸,늢쟒쪹뗃췢맺놾뾪쪼ퟅ듺샭몣맘뗄쮰쫕돶쓉ꆣ틲듋,풭쿈붭쓏잮뗄튵컱뫜쫖뷩죫훐맺뗄짺닺뫍릤뿳웳튵ꆣ헢뎡캣믺붫훐맺뺭듳튻늿럖틆떽즽컷욱뫅뗄쏻쿂,즽컷욱뫅뷨맙뿮쿮볃췆쿲룼짮튻늽뗄냫횳쏱뗘ꆢ냫럢붨뗄ힴ첬ꆣ쒿삩듳쇋펪튵랶캧ꆣ듓1883쓪떽탁몥룯쏼,욱뫅떽1883쓪뗄뷰죚캣믺쯰몦쇋훐맺릤튵뮯뷸돌,뫺듯웤좫쪢쪱웚,쯼뗄뺭펪ퟷ럧짮죋탄,탅폾ힿ훸,헾맢?퓸풸틢뛀솢붨짨뎤붭퇘쿟뗧놨,쯦ퟅ쯻뗄웆닺,뢮뛔웤쟠폐볓,떽볗컧ꆢ룽ퟓ쫂볾,욱뫅랢햹떽쇋벫헢쿮탨돯듫1000췲솽뻞뗄붨짨룩잳쇋ꆣ쳆뺰탇ꆢ쪢,돉캪훐맺뷰죚튵뗄횴얣뛺헟ꆣ횣맛펦ꆢ탬죳쯹훂솦뗄싖뒬몽퓋ꆢ탂쪽뿳튵뫍믺웷훆(쿂뗚64튳)ꆤ60ꆤ
ꆡ즽/컷/닆/뺭/듳/톧/톧/놨JournalofShanXiFinanceandEconomicsUniversityJun.,쓪6퓂뗚22뻭ꆡ뗚3웚쫂쪵짏,춨맽죋쏱뇒듳럹뛈뇡횵,횻쓜듸살뛌웚듌벤헢뻍쫇쯹캽뛔컒맺ꆰ헾훎샻틦ꆱ뗄쯰몦ꆣ돶뿚뗄ퟷ폃,떫좴늻쓜뷢뻶컒맺뎤웚돶뿚뗄햽싔뺺헹(쇹)믡쯰몦맺볊춶헟뗄탅탄폅쫆ꆣ뛸컒맺뺭볃랢햹뗄뎤웚햽싔,쫇쳡짽놾맺뗄럾죋쏱뇒뛔췢뇡횵,뮹믡쯰몦맺췢춶헟뗄탅탄,컱훊솿뫍쳡룟돶뿚닺욷뗄벼쫵몬솿,뛸헢폖짦벰떽뺭쪹췢짌살뮪춶쿂붵짵훁뎷,맺쓚웳튵뗄뎥햮돉놾볃뷡릹뗄뗷헻컊쳢,뛸뺭볃뷡릹뗄뗷헻폖탨튪폐튻룶퓶볓,늻샻폚컒맺돶뿚뗄뎤웚컈늽퓶뎤뫍놾쿮쒿뗄뿭쯉뗄뫪맛뺭볃뮷뺳ꆣ죴죋쏱뇒뇡횵,뻍믡듓맺췢쫤췢믣쫕횧욽뫢ꆣ퓚헢샯쳘뇰횵뗃튻쳡뗄쫇,죋쏱뇒뛔죫춨헍,쪹맺쓚컯볛쮮욽뻓룟늻쿂,퓚헢훖뮷뺳쿂뷸췢뇡횵,뇘뚨믡돥믷룛풪ꆣ헢늻뷶늻샻폚쿣룛뺭볃뗄탐뺭볃뷡릹뗄뗷헻,뫜뿉쓜믡틽랢탭뛠짧믡컊쳢,퇏랱죙폫컈뚨,뛸쟒폖뇘좻믡펰쿬떽ꆰ튻맺솽훆ꆱ릹쿫뗄훘쪱믡떼훂헻룶짧믡뗄뚯떴ꆣ틲듋죋쏇뎣붫헢뇈폷돉릦쪵쿖,늢뷸뛸펰쿬떽ퟦ맺춳튻듳튵뗄쮳샻췪돉,캪ꆰퟟ룖쮿ꆱ,평폚튻뷅쎻니뫃,뻍믡듓룖쮿짏뗴쿂좥ꆣ헢쫇훐맺헾뢮뫍죋쏱뚼늻풸뾴떽뗄ꆣ(컥)믡쯰몦컒맺뗄맺볊탎쿳쯄ꆢ컊쳢뗄뷡싛듓뗚ꋴ풼쫸쳵볾뾴,떱죋쏱뇒뛔췢뇡횵쪱,늻뷶춨맽짏쫶럖컶,늢뷡뫏컒맺뗄쿖쪵쟩뿶,컒쏇뾴믡틽웰탂튻싖뗄믵뇒뺺헹탔뇡횵,뛸쟒,ퟮ훕쪹죋쏱떽,늻싛쫇돶폚뺭볃뚯믺,뮹쫇헾훎쒿뗄,죋쏱뇒뇡횵뇒뇡횵쯹닺짺뗄쿠뛔볛룱폅쫆튲믡쪧좥,뷡맻퓚뛔뇰뗄뢺쏦킧펦뚼듳폚헽쏦킧펦,틲뛸헾닟뷡싛횻쓜쫇:맺샻틦퓬돉쯰몦뗄춬쪱컒쏇튲뗃늻떽뫃뒦;룼퇏훘뗄죋쏱뇒늻뇡횵ꆣ듓쪵볹뗄뷡맻뾴,죋쏱뇒늻뇡횵뗄헾쫇,붫쯰몦컒맺뗄맺볊탎쿳,쪹컷랽랢듯맺볒,쳘뇰쫇닟좷쪵쫇헽좷뗄,쫇뻟폐잰햰탔뗄ꆣ쏀맺뫍얷쏋,믡죏캪훐맺쫇맺볊짧믡훐늻뢺퓰죎ꆢ늻틲듋,퓚퇇훞뷰죚럧놩훐,훐맺헾뢮횮쯹틔퇏쫘억퇔뗄튻룶돉풱,잿뮯쇋쏀맺뫍얷쏋늻탅죎훐맺뗄돐억:죋쏱뇒뛔췢늻뇡횵,늢늻쫇캪쇋늩좡췢맺죋뗄돌뛈,헢뇘붫펰쿬훐쏀ꆢ훐얷볤뗄헾훎뺭볃뫏ퟷ맘쾵ꆣ뫈닊,췪좫쫇돶폚훐맺죋ퟔ짭샻틦뗄뾼싇ꆣ[퓰죎뇠벭:듞톧삼](짏뷓뗚60튳)뇭1ꆡꆡꆡꆡꆡ짏몣잮쫽쒿뇭2ꆡꆡ욱뫅탂짨ꆢ킪튵튻샀뇭쓪ꆡ럝뮪뷧쫽솿췢맺ퟢ뷧쫽솿뫏ꆡ볆쓪ꆡ럝볒ꆡ쫽ꆡ탂짨킪ꆡ튵186217318581201864-18652251873801031831865-187426418743048781875-1882282187642631051879ꆡꆡ29118832335581881-1882292218862525501883ꆡꆡ302118882537621884ꆡꆡ282419032359821885ꆡꆡ2712190530721021886ꆡꆡ2711190837781151889-1890281119101774911892ꆡꆡ281119111437511893ꆡꆡ2811[닎뾼컄쿗]\[1\즽]컷닆뺭톧풺.즽컷욱뫅쪷쇏\[M\]첫.풭:즽컷죋쏱돶냦짧,1990,69.\[2\뫂]퇓욽(쏀).훐맺뷼듺짌튵룯쏼\[M\]짏.몣:짏몣죋쏱돶냦짧,1991,369.\[3\즽]컷닆뺭톧풺.즽컷욱뫅쪷쇏\[M\]첫.풭:즽컷죋쏱돶냦짧,1990,202.\[4\뫂]퇓욽(쏀).훐맺뷼듺짌튵룯쏼\[M\]짏.몣:짏몣죋쏱돶냦짧,1991,310.\[5\즽]컷닆뺭톧풺.즽컷욱뫅쪷쇏\[M\]첫.풭:즽컷죋쏱돶냦짧,1990,222.\[6\즽]컷닆뺭톧풺.즽컷욱뫅쪷쇏\[M\]첫.풭:즽컷죋쏱돶냦짧,1990,66.\[7\췵]뺴폝.쪮뻅쫀볍컷랽놾훷틥뛔훐맺뗄뺭볃쟖싔\[M\]놱.뺩:죋쏱돶냦짧,1983.\[8\뫂]퇓욽(쏀).훐맺뷼듺짌튵룯쏼\[M\]짏.몣:짏몣죋쏱돶냦짧,1991,218.\[9\즽]컷닆뺭톧풺.즽컷욱뫅쪷쇏\[M\]첫.풭:즽컷죋쏱돶냦짧,1990,218.[퓰죎뇠벭:뫺퇥췾]ꆤ64ꆤ
