我国资产证券化的现实思考与路径选择  

The Consideration of Our Country's Asset Securitization and the Path Selection

作　　者：孙奉军[1] 

机构地区：[1]上海财经大学金融学院,上海200433

出　　处：《财经研究》2001年第9期43-51,共9页Journal of Finance and Economics

摘　　要：资产证券化运行机制遵循经济供求规律 ,因此 ,开展资产证券化首要条件是市场对资产支持证券有效的供给和需求 ,同时要有相应的制度保证。本文通过对当前资产支持证券供求关系及其相关制度因素进行分析后认为 ,在当前诸多因素的制约下 ,国内开展资产证券化的时机和条件并不十分成熟 ,因此 ,我国资产证券化应遵循先国际后国内的原则 ,先行开展离岸资产证券化 ,待各项制度完善以后 。The mechanism of asset securitization abide by the law of supply and demand,so the first importance of asset securitizationis that it needs enough supply and demand in assetbacked securities market and needs the assurance of the system concerned at the same time Through the analysis both of the present relationship between the security supply and the security demand backd by asset, and of the relevant factors of system, this articles believe that the condition and the timing of asset securitization in domestic market is not ripe at present,so asset securitization should abide by the principle that first develop offshore asset securitization and then develop asset securitization when the systems are perfected.

关 键 词：中国 资产证券化 供给分析 需求分析 离岸资产证券化 制度性因素 法律体系 市场环境 

分 类 号：F832.5[经济管理—金融学]