美国金融危机战略成因及对我国金融创新的启示

Causes of US Financial Crisis Strategy and the Enlightenment for Chinese Financial Innovation

美国金融危机对世界和我国经济发展与经济调制将产生深远的影响。对金融危机的成因透过制度层面,结合全球经济和美国房地产市场、债券市场、金融衍生产品市场的发展、演变情况,进行了定性和定量分析。发现金融危机是美元取得储备货币地位并脱离黄金,利用"特里芬难题"大量增发之后的必然结果。而美联储则刺激、放任房地产市场泡沫,实行"金融危机战略",以实现其吸收美元,遏阻通货膨胀,在世界范围内重新分配美元财富的目的。因此制度层面的金融危机完全可以通过法律监管加以调控,而全球经济层面的金融危机则取决于各国经济战略博弈。

The US financial crisis will have far-reaching impact on the world economy and China＇s economic modulation.In this paper,a qualitative and quantitative analysis from the system level have been conducted on the causes of the financial crisis,combined with the global economy and the US real estate market,bond market,the financial derivatives market development and evolution.It is found that the financial crisis is inevitable,after the US dollar getting the reserve currency status and the renunciation from gold.By using the ＂Triffin dilemma＂ after a large number of additional US dollars into the market,the US Federal Reserve Board is to stimulate,while allowing the real estate market bubble,by ＂the financial crisis strategy＂ purposely,to achieve their absorption of US dollars in the world and their redistribution of wealth in US dollars.This paper obtained at the institutional level that the financial crisis can be regulated by law regulation,while as for the global economy,financial crisis depends on national economic strategy.