试论宋代信用票据市场的构成

宋代 ,在商品经济发展的影响下 ,产生了信用票据市场。这种信用票据市场由发售市场、流通市场和兑现市场构成。由于特殊的经济关系 ,各类信用票据市场都承担着不同的经济职能。归根结蒂 ,它们所发挥的一项最根本职能便是支撑信用票据的运行。同时 ,信用票据市场的产生和运行 ,标志着宋代商品经济达到了一个较高水平

A Tentative Study on the Formation of Credit Instrument Market in the Song Dynasty

With the development of commodity economy in the Song Dynasty, a credit instrument market that was composed of a primary market, a secondary market and a discount market came into being. On account of the special economic relationships, each type of market had an economic function of its own, with the fundamental function of all the markets being to support the application of credit bonds. The emergence and operation of such credit instrument market indicated that commodity economy had developed to a rather high level in the Song Dynasty.