金融危机扩散中的示范效应和竞争性贬值效应分析  

An Analysis on the Effects of Demonstration and Rivalrous Devaluation in the contagion process of Financial Crisis

作　　者：陈学彬[1] 

机构地区：[1]上海财经大学金融学院,上海200433

出　　处：《金融研究》1999年第5期41-47,共7页Journal of Financial Research

摘　　要：金融危机的形成和扩散过程，是由投机者、本国公众、外国公众、本国政府、外国政府和国际组织等多方参与者参加的多方非对称信息动态博奔。危机的形成和扩散必然导致博奕各方的实力对比、利益格局和所获信息的变化，而这些变化又必将导致博奔均衡的变化，从而导致危机的迅...The forming and contagion processes of financial crisis are multiplayers dynamic games of asytninetric information. The effects of demonstration and rivalrous devaluation are the reflection on changes of information received by players and changes of benefit situation of the game's players. This paper discussed on those effects by means of Game Theory. It shows that When one currency take the led in devaluating, this devaluating demonstration will influence the expectations and actions Of the public and speculators, decrease benefits of the relative countries, induce these countrise take rivalrous devaluation and increase the contagion speed of financial crisis. The results of this kind of noncooperative game are worse than cooperative game. So it is important for preventing the contagion of financial crisis to strengthen the international coopendion.

关 键 词：金融危机 危机扩散过程 示范效应 竞争性贬值 

分 类 号：F831.5[经济管理—金融学] F830.9