国际金融危机的虚拟价值理论分析

Analysis of the Fictitious Value Theory in International Financial Crisis

虚拟价值是由人们主观想象的,并通过市场价格表现的一种虚构的价值。虚拟价值作为一种特殊的价值形式,具有虚拟性、不确定性、可转化性等特征。虚拟价值的变动会产生投资扩张与收缩、消费刺激与抑制、资源配置的优化与劣化、劳动激励与约束以及风险规避与放大等效应,从而促进或阻碍实体经济增长。从虚拟价值的视角分析,本次国际金融危机是虚拟价值变动的负面效应集中发挥作用的结果。我国应合理发展虚拟经济,警惕房地产虚拟价值的过快增长,加强金融创新的监管。

Fictitious value is a kind of imagined value which is created and showed by the market prices.As a kind of special value,fictitious value has special features such as fictitious,uncertain,convertible.The change of the fictitious value does not means the change of real wealth or real value,but it may create investment expanding or contracting effect,consumption stimulating or restricting effect,resources allocation optimizing or weakening effect,work inspiring or constraint effect,and risk evading or magnifying effect,which will promote or hinder the growth of the tangible economy.When we analyze the financial crisis from the viewpoint of fictitious value,we can see that it is the outcome of the negative effect of the change of the fictitious value.From the analysis of the international financial crisis in the paper,we can conclude that the change of fictitious value will impact the tangible economy greatly,so we should develop the fictitious economy moderately;be ware of the fast increase of the fictitious value of our country's housing.The financial innovation is essential but it should be supervised strictly.