发达国家金融系统的去杠杆化趋势及其影响

发布时间：2018-08-08 19:43

【摘要】：由美国次贷危机引发的金融危机的根源被普遍认为是过度证券化所致,因而引发了世界特别是发达国家对去杠杆化的思考。去杠杆化是走出这场国际金融危机的必由之路,其对社会经济的影响极大,甚至可能导致流动性枯竭、金融危机的加深和扩大。本文阐述了危机发生前主要发达国家的金融系统杠杆化过程及其程度并讨论了金融系统杠杆化的得与失,通过对近3年来发达国家金融系统去杠杆化的讨论对金融系统去杠杆化的影响进行评价。
[Abstract]:The origin of the financial crisis caused by the subprime mortgage crisis in the United States is generally considered to be caused by excessive securitization, which leads to the thinking of deleveraging in the world, especially in developed countries. Deleveraging is the only way out of the international financial crisis, which has a great impact on the social economy, and may even lead to the depletion of liquidity and the deepening and expansion of the financial crisis. This paper describes the process and extent of financial system leverage in major developed countries before the crisis, and discusses the gains and losses of financial system leverage. The impact of deleveraging on financial systems in developed countries is evaluated through a discussion of deleveraging in developed countries in the past three years.
【作者单位】：上海社会科学院世界经济研究所;
【分类号】：F831.5

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