【摘要】：由美國次貸危機引發(fā)的金融危機的根源被普遍認為是過度證券化所致,因而引發(fā)了世界特別是發(fā)達國家對去杠桿化的思考。去杠桿化是走出這場國際金融危機的必由之路,其對社會經(jīng)濟的影響極大,甚至可能導(dǎo)致流動性枯竭、金融危機的加深和擴大。本文闡述了危機發(fā)生前主要發(fā)達國家的金融系統(tǒng)杠桿化過程及其程度并討論了金融系統(tǒng)杠桿化的得與失,通過對近3年來發(fā)達國家金融系統(tǒng)去杠桿化的討論對金融系統(tǒng)去杠桿化的影響進行評價。
[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.
【作者單位】： 上海社會科學(xué)院世界經(jīng)濟研究所;
【分類號】：F831.5

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本文編號：2172856