| Formation mechanism | Market-led model | Government-led model |
| Theoretical Basis | Demand-Following theory | Supply-Leading theory |
| Generate motivation | Motive power of economic development | Government subjective impetus |
| Generating countries | Developed capitalist countries | Newly industrialized countries |
| Functional orientation | The Government did not specify in advance the development objectives, and financial gather along with economic development gradually | The Government has specific planning and positioning, that is to promote economic and industrial development finance through financial agglomeration, and expand radiation effects |
| Related policy | A high degree of freedom and opening, and more laissez-faire policies | Government actively supports and the high level of intervention |
| The role of the financial industry to the economy | The financial industry produces passive reaction on the economy | Financial industry develops actively to support economic development |