日美金融危机和经济衰退的根源与规律探讨——基于产业革命周期理论  

Research into Root and Law of Financial Crisis in the USA and Japan:Based on Theory of Industrial Cycle

作　　者：方堃[1] 

机构地区：[1]北京交通大学经济管理学院,北京100044

出　　处：《金融研究》2011年第8期72-77,共6页Journal of Financial Research

基　　金：西南财经大学"211工程"三期建设项目资助

摘　　要：本文通过对日美金融危机的比较研究,认为日本与美国的金融危机有着共同的特征,两国的金融危机均是在实体经济出现停滞或衰退趋势时爆发的,实体经济的衰退与金融危机的爆发有着因果关系。而实体经济衰退又是由主导技术(体系)进入衰退期而新技术创新不足所引起。美国在20世纪90年代IT产业革命之后缺乏新的技术创新,致使其实体经济增长动力不足,资金流向股市、房市等虚拟经济,诱发金融危机。汇率战无助于美国经济问题的解决,解决问题的根本途径在于新技术创新,在实体经济中寻找新的经济增长点。Financial crisis is closely related to the real economic cycle. This paper compares the financial crisis in the USA and Japan, realizes that financial crisis in th6 two countries has similar features. Financial crisis broke out when real economy began to stagnate or depress. Economic recession was mainly caused by leading technique going into recession and the shortage of innovation. Fighting in rate of exchange can hardly help A- merica solve the economic problem. The most effective solution was technical innovation. By this means, the country was able to discover a new growth point in real economy.

关 键 词：金融危机 经济周期 创新 产业革命 

分 类 号：F131.3[经济管理—世界经济] F171.2