略论资产证券化与美国次级贷款危机

Discussion about the assets securitization and the U.S.sub-prime mortgage loan crisis

次贷危机的爆发与资产证券化市场的发展息息相关。一方面,资产证券化作为金融创新的重要方式,推动了美国经济的增长;但另一方面,资产证券化在开放的金融体系中会加速风险和危机的传播和扩散,加大系统性风险和金融危机的传染效应,使局部性金融危机或个案性金融危机演变成全球性金融危机。因此,加强金融创新中的风险控制是美国次贷危机给我们的重要启示。

The spreading subprime mortgage crisis of the assets securitization with the development of the market closely.the other hand,the assets securitization a financial innovation,the important to promote economic growth ;but on the other hand,the assets securitization in the financial system of the risks and crisis will accelerate the spread and spread,It systematic risks and financial crisis of the financial crisis,local or cases of financial crisis into global financial crisis.thus,strengthen financial innovation risk control is the spreading subprime mortgage crisis for our major revelation.