| Summary: | 碩士 === 國立成功大學 === 政治經濟研究所 === 88 === This thesis tries to analyze, within the framework of new institutional economics, the prospect of a free banking economy in the coming era of electronic commerce under the trend of globalization. Nevertheless, increasing transaction costs in dimensions like those concerning execution and risk-bearing are likely to form barriers for the development of this new type of business. Technological changes such as the so-called “Internet payment system” is therefore invented mainly to lower such transaction costs. As this new industry awaits its horizon of prosperity, the author observes that the existence of the central banking system could somehow be detrimental to the operation of these e-commerce enterprises and individual entrepreneurs will then have the motive to push for institutional changes in order to reduce related costs. Also articulated is a conviction that too high a cost for maintaining the central banking system and electronic money issuers as a irresistible source of tax revenue, together with the many advantages alongside the free banking system, will eventually direct the current financial institution toward a change that favors the free banking system. How such system operates is also discussed.
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