论次贷危机中金融衍生品的风险传导

曲靖师范学院学报 ›› 2020, Vol. 39 ›› Issue (6): 92-97.

论次贷危机中金融衍生品的风险传导

侯建翔

圣安德鲁斯大学管理学院,圣安德鲁斯 KY16 9RJ

收稿日期:2020-10-12 出版日期:2020-11-26 发布日期:2021-01-13
作者简介:侯建翔,英国圣安德鲁斯大学管理学院在读硕士研究生,主要从事金融学、宏观经济研究.

Risk Transmission of Financial Derivatives in the Subprime Mortgage Crisis

HOU Jianxiang

School of Management, University of St Andrews, UK, KY16 9RJ

Received:2020-10-12 Published:2020-11-26 Online:2021-01-13

摘要/Abstract

摘要： 从次贷危机中金融衍生品的风险传导机制入手,介绍了次贷产品链的主要组成,讨论了由次级抵押贷款产品链复杂性和抵押贷款证券化引起的信息不对称;道德风险和透明度缺失等问题.并提出对中国金融衍生品市场发展的相关启示.

关键词: 次贷危机, 金融衍生品, 道德风险, 信息不对称, 证券化

Abstract: The financial crisis caused by the U.S. subprime mortgage market has evolved into a global financial storm in a short period. The financial crisis is undoubtedly the result of the interaction of financial regulation, excessive financial innovation and other problems. Based on the risk transmission mechanism of financial derivatives in the subprime mortgage crisis, this study discusses a series of problems caused by the complexity of the subprime mortgage product chain and mortgage securitization. Some proposals to the development of Chinese financial derivatives market are put forward as well.

Key words: subprime crisis, financial derivatives, moral hazard, information asymmetry, securitization

中图分类号:

侯建翔. 论次贷危机中金融衍生品的风险传导[J]. 曲靖师范学院学报, 2020, 39(6): 92-97.

HOU Jianxiang. Risk Transmission of Financial Derivatives in the Subprime Mortgage Crisis[J]. Journal of Qujing Normal University, 2020, 39(6): 92-97.

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