摘要
耐心资本因其具有长期性、较高的风险容忍度和较强的政策导向等特点,在推进数实融合发展的过程中具有独特的优势。本文在厘清两者内涵与已有研究的基础上,分析了日本、德国和美国运用耐心资本推进数字经济和实体经济深度融合的经验,并就我国如何从顶层设计、宏观环境、增加产业适配度、壮大机构投资者、优化结构和提升质量、扩大耐心资本来源并形成规模效应、发挥银行系耐心资本的关键作用、鼓励金融创新、建立适配数字转型的耐心资本制度等方面作出努力提出了具体建议。
Patient capital has unique advantages in the process of promoting integration of digital and real economies because of its long-term nature,higher risk tolerance and stronger policy orientation.Based on clarifying the connotation of the two and the existing research,this paper analyzes the experiences of Japan,Germany and the United States in using patient capital to promote integration of digital and real economies,and discusses how to promote integration of digital and real economies in China in terms of top-level design,macro environment,increasing the degree of industrial suitability,growing institutional investors,optimizing the structure and improving the quality,expanding the sources of patient capital and developing a scale effect,playing the key role of bank-based patient capital,encouraging financial innovation and setting up a system of patient capital suited to the digital transformation.
出处
《经济研究参考》
2025年第7期130-142,共13页
Review of Economic Research
关键词
耐心资本
数实融合
创新
patient capital
integration of digital and real economies
innovation
