美国次贷危机的特殊根源及未来走向

发布时间：2018-05-16 19:43

本文选题：房地产泡沫 + 金融衍生品　；参考：《经济纵横》2011年05期

【摘要】：相对于以往的金融危机,本轮美国"次贷"危机的根源具有特殊性,是由房地产泡沫和金融衍生品泡沫共同破裂引发的新型金融危机。房地产泡沫破裂是"次贷"危机的首要根源,但不是唯一根源。美国次级抵押贷款债券及其衍生品泡沫破裂并引致全球金融衍生品市场价值大幅度缩水,是本次危机的重要根源。从房价收入比的内在发展趋势看,本轮危机对美国经济的负面冲击要持续到2013年才会结束。我国应充分吸取此次金融危机的教训,防止我国房地产泡沫化引发国内系统性金融风险,提早研拟应对国际金融市场衍生品泡沫破裂的对策。
[Abstract]:Compared with the previous financial crisis, the origin of the subprime mortgage crisis in the United States is special. It is a new type of financial crisis caused by the bursting of the real estate bubble and the financial derivatives bubble. The bursting of the property bubble was the primary, but not the only, cause of the subprime crisis. The collapse of the U.S. subprime mortgage bond and its derivatives bubble, which led to a sharp drop in the value of the global financial derivatives market, was an important source of the crisis. Judging by the underlying trend in the ratio of house prices to incomes, the negative impact of the crisis on the U.S. economy will not end until 2013. Our country should fully absorb the lessons of this financial crisis, prevent the real estate bubble of our country from triggering the domestic systemic financial risk, and draw up the countermeasures to deal with the bursting of the derivatives bubble in the international financial market.
【作者单位】：国务院发展研究中心宏观部;中国人寿股份有限公司;
【分类号】：F837.12

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