后金融危机条件下我国房地产证券化研究——基于美国房地产证券化实践的启示  

A Study of China's Real Estate Securities under the Conditions of Post-Financial Crisis:Based on the Enlightenment of U. S. Real Estate Securities Practice

作　　者：葛扬[1] 吴亮[1] 

机构地区：[1]南京大学商学院,江苏南京210093

出　　处：《审计与经济研究》2010年第4期85-92,共8页Journal of Audit & Economics

基　　金：教育部人文社会科学重点研究基地重大项目基金(08JJD790120);国家社科基金项目(06BJL016);国家社科基金项目(09BJL033)

摘　　要：我国房地产市场发展过程中现存问题的背后是房地产金融市场风险。美国的房地产资产证券化历程从正反两方面都给中国寻找有效控制和分散风险的方法及中国房地产金融创新等提供了很好的借鉴和启示。我国房地产金融市场建设总体上应遵循"长短结合,疏堵并举"的原则。短期有"堵"有"疏";长期以"疏"为主。That behind the existing problems of the development of China＇s real estate market is real estate financial market risks. The U. S. real estate assets securitization process not only provides a reference for China to find effective ways to control and decentralize risks, but also gives an inspiration for China real estate financial innovation. The construction of China＇s real estate financial market should fol- low the principle of ＂taking both the long term policy and the short term policy simultaneously, not only controlling risks, but also decen- tralizing risks ＂. In the short term, we should control risks and decentralize risks, By contrast, in the long term, we should focus on risks decentralization.

关 键 词：房地产市场 房地产证券化 金融危机 房地产金融创新 

分 类 号：F832.45[经济管理—金融学]