摘要
本文通过对存贷危机和次贷危机发生的宏观、微观机理进行分析,指出宏观经济变化、房贷质量低下及风险正反馈增益机制是次贷危机发生的根本原因,特别是金融衍生品对次贷产品链上风险构筑的反馈机制是本次危机的最大特点。最后,本文对如何正确对待金融衍生品和风险管理提出了建议。
Based on the analysis of the macro and micro causes of saving-loan crisis and sub-prime crisis, the author points out that macroeconomic development, deterioration of mortgage loan and the positive feedback process of risk are the culprits of sub-prime crisis. In particular, the feedback system of financial derivatives to the risk accumulation in the chain of sub-prime loan product makes this crisis rather unique. Finally, some suggestions on how to deal with financial derivatives and their risk management are put forward.
出处
《南方金融》
北大核心
2009年第4期8-11,65,共5页
South China Finance
关键词
金融衍生品
次贷危机
风险管理
Financial Derivatives
Sub-prime Crisis
Risk Management
