区域性民间金融风潮：中国式金融危机简史（1883-2015）
Regional Non-governmental Financial Agitations:A Brief History of Chinese Financial Crisis (1883-2015)

与西方国家发生于正规金融市场、以资产价格爆跌为主要特征的金融危机不同，中国式金融危机主要表现为局部市场发生的区域性民间金融风潮，早期以钱庄等传统金融机构倒闭和挤兑狂潮为主要特征，改革开放后主要表现为非法集资信用链断裂引发的“倒会案”、机构倒闭引发的企业主跑路，以及挤兑狂潮引发的群体性事件等。根据历史资料、媒体报道及学术文献，结合田野调查，对各类民间金融风潮具体案例进行系统梳理，并通过与一般金融危机的比较分析，发现区域性民间金融风潮的演化路径也经历“疯狂——惊恐——崩溃”三个阶段，但在具体成因、影响后果上存在较大区别。民间金融风潮具体成因与市场分割、二元结构下地方金融监管体制缺陷等有关，因此，在应对措施上也应与普通金融危机不同。
Since modern finance emerged, many financial crises happened in China. Different from the financial crisis happened in regular financial market characterized with slumped asset prices in Western countries, Chinese financial crisis are regional financial agitation, which was characterized by traditional financial institutions collapses and bank run in early modern times, and by Roscas crisis, enterprise owners hiding from creditors caused by bankrupt of institutions, and mass incidents caused by credit chain rupture in informal finance. The main reason of regional financial agitations is the lack of financial regulation in market segmentation. So the solutions is different with general financial crisis. We should correct local government character and perfect local financial regulation system, on the other hand, we should strengthen the standard management of non-governmental finance.