金融危机传导的理论和实证研究——基于宏观资产负债表的视角  

Theoretical and Empirical Study on Transmission of Financial Crises:From the Perspective of Macro Balance Sheet

作　　者：张培[1] 

机构地区：[1]武汉大学经济与管理学院,湖北武汉430072

出　　处：《武汉大学学报（哲学社会科学版）》2015年第3期73-79,共7页Wuhan University Journal：Philosophy & Social Science

基　　金：教育部人文社会科学研究青年基金项目(13YJC790199);武汉大学人文社会科学"70后"学者学术发展计划

摘　　要：金融危机的传导呈现出交互式动态特征,已经成为影响全球金融系统稳定的重要因素。在传统理论的基础上,提出使用宏观资产负债表的分析框架研究金融危机的国际传导与国内传导,这一框架将存量分析与流量分析、总量分析与结构分析相结合,从而为金融危机传导问题的研究提供了新思路。以1997年亚洲金融危机为例,从危机的爆发到传导的整个过程,发现金融危机传导是各种传导渠道和传导效应在各个宏观经济部门综合作用的结果。The Transmission of financial crisis shows the characteristics of interactive and dynamic and it has become an important factor that affect the global financial system stability. On the basis of traditional theory, this paper studies financial risk conduction under a macro balance sheet analysis framework. This framework combines stock and flow analysis as well as aggregate and structural analysis, which provides a new idea for transmission of financial crises. As an example, in the 1997 Asian financial crisis,this paper finds that it is the result of synthetic action on macro economic sectors of all kinds of transmission channels and conduction effect from the outbreak of the crisis to the whole process of conduction.

关 键 词：金融危机 风险传导 资产负债表 

分 类 号：F831.59[经济管理—金融学]