帝国的光环:美国金融危机的历史制度解释

发布时间：2019-07-21 09:47

【摘要】：基于历史制度主义的视角,批判性地建立在制度变迁的广义理论以及才能配置理论之上,作者提出一个关于2008年美国金融危机的深层原因的新理论:"帝国的光环"理论。作者认为,美国在全球金融体系中的霸权地位使其吸引了全世界的资本,特别是在美元与黄金脱钩之后。而大量的外资流入逐渐增加了美国放松大萧条后建立的金融管制体系的压力。大量的外资流入和对金融管制的放松最终导致整个美国经济结构过度金融化,特别是使得美国企业家和精英才能"误配置",进而导致了金融危机的发生。来自美国、英国、法国、德国、日本、加拿大和意大利七个核心发达国家的经验数据高度支持我们理论的推定。这一研究还表明,任何以单一主权货币为中心的国际金融体系都是不稳定的。
[Abstract]:Based on the perspective of historical institutionalism and critically based on the broad theory of institutional change and the theory of talent allocation, the author puts forward a new theory about the deep causes of the 2008 American financial crisis: the theory of "the aura of empire". The author believes that the hegemonic position of the United States in the global financial system makes it attract capital from the world, especially after the decoupling of the dollar from gold. Large inflows of foreign investment have gradually increased the pressure on the United States to relax the financial regulatory system established after the Great Depression. A large number of foreign capital inflows and deregulation of financial regulations eventually led to the excessive financialization of the entire American economic structure, especially the ability of American entrepreneurs and elites to "misallocate", which led to the occurrence of the financial crisis. Empirical data from the seven core developed countries, namely, the United States, the United Kingdom, France, Germany, Japan, Canada and Italy, highly support the assumption of our theory. The study also shows that any international financial system centered on a single sovereign currency is unstable.
【作者单位】：复旦大学国际关系与公共事务学院;滁州学院经济与管理学院;
【基金】：复旦大学“985工程”三期整体推进社会科学研究项目“转型的初始状态、政治过程与转型制度绩效:对全球转型国家经验和教训的考察”的阶段性成果(项目编号:2011SHKXZD011)
【分类号】：F837.12

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