从货币地位角度看美国次贷危机与亚洲金融危机的差异

Differences between US subprime crisis and Asian financial crisis--From the perspective of currency status

相比亚洲金融危机等历次金融危机,美国次贷危机有着类似的宏观经济和制度背景,但次贷危机在形式、影响和危机国应对政策方面均体现出与传统金融危机不同的特征。该文比较了美国次贷危机与亚洲金融危机的差异,认为危机发源国货币地位的不同是这些差异产生的重要因素。

Compared to the previous global economic woes, like the Asian financial crisis, the US subprime crisis has similar macroeconomic and institutional background. However, the subprime crisis is still characterized by features different from traditional financial crises in form, impacts and anti-crisis measures. After comparing the divergence between these two crises, the author holds that the currency status of the crisis country is the essential factor leading to such differences.