次贷危机全球蔓延致金融系统的风险透视  

Research on Risks of the Extension of Subprime Crisis to Global Financial System

作　　者：赵磊[1] 赵瑾璐[1] 

机构地区：[1]北京理工大学人文社会科学学院,北京100081

出　　处：《北京理工大学学报（社会科学版）》2009年第3期74-78,共5页Journal of Beijing Institute of Technology：Social Sciences Edition

摘　　要：次贷危机引发全球的金融海啸,在流动性过剩的时代,出现流动性紧缺,从而导致以华尔街为首的全球共振。汇率不再是海啸的罪魁祸首,文章重新审视当代金融的杠杆效应,揭示自我膨胀的风险逃避机制,金融产品过度衍生传递信用风险,货币政策的有效性冲突是次贷危机全球快速蔓延并形成传染效应的重要原因。使得我国金融的系统风险显现,对境外市场、金融市场和实体经济方面产生重要影响。Subprime Crisis gave rise to the global financial crisis. It happened as a result of liquidity shortfall in the age of surplus liquidity, leading to global crisis beginning with the Wall Street, USA. In the Subprime Crisis, exchange rate is not the essential cause anymore. The paper reexamines the financial leverage effect, proposing that the system of risk-evading self-expansion, financial derivative products, which transfer credit risks, and the conflicts of monetary policies are the essential causes for the expansion of subprime crisis into global financial field. It has effects on foreign markets, financial market and real economy, leading to risks facing the financial system of China.

关 键 词：次贷危机 全球蔓延 金融风险 

分 类 号：F830.5[经济管理—金融学] F830.99