The comparison of the financial systems-characteristics of the bank-based financial system

本研究对金融体系进行了比较分析。首先，我们把德国看作是一个有可能构建混合型金融体系的国家。即，在保持以间接融资为中心的银行型金融体系的基础上，向以直接融资为中心的市场型金融体系转变，以保持两者的优势。然后，我们把这种金融体系与日本的金融体系进行比较。最后，本文以欧洲中央银行为例，分析了中央银行货币政策管理对实现金融体系稳定的重要性。

This study performs a comparative analysis of financial systems. First, we consider Germany as a country that could possibly construct a hybrid-type financial system.That is, it is attempting to shift to a market-based financial system that is centered on direct financing while still leaving intact features of a bank-based financial system centered on indirect financing.The goal is to retain the advantages of both systems.We then compare this system to Japan's financial system.Finally, based on the European Central Bank, we analyze central bank monetary policy management, which is important to realizing financial system stability.