现代经济中泡沫的形成与扩张机制——一个基于金融经济学的分析视角  

The Forming and Expansion Mechanism of Bubble in Modern Economy——An Analysis from the Perspective of Financial Economics

作　　者：刘玉平[1] 

机构地区：[1]上海金融学院教务处,上海201209

出　　处：《南昌大学学报（人文社会科学版）》2006年第6期125-129,共5页Journal of Nanchang University(Humanities and Social Sciences)

摘　　要：从费雪的负债-通货紧缩理论,到明斯基的金融不稳定假说,都在不同程度上使泡沫经济与金融危机获得了解释。然而,要看清泡沫经济的实质,必须追溯到经济泡沫的扩张机制。现代经济中,当企业、家庭、金融机构甚至政府部门能够从投机行为中获得暴利时,理性的行为将彻底地被非理性的狂热和泡沫所取代,从而出现资产价格暴涨的现象。此时,经济泡沫就演变成了典型的泡沫经济。在这个过程中,货币供给机制、金融制度变迁和外国资本流入起着关键性的作用。From the Fisher＇ s debt- deflation theory to Minsky^s finance unstable hypothesis,the theories explained financial crisis in varying degrees. However, we must trace back to the expansion mechanism of the economic bubble if we want to understand the essence of the financial crisis thoroughly. At this moment, economic bubble develops into the typical bubble economy. The currency supply mechanism, the finance system change and foreign capital inflow play a key role in the course of this process.

关 键 词：现代经济 金融经济 资产价格 经济泡沫 金融危机 

分 类 号：F831.59[经济管理—金融学]