给你推荐10部:1.The American economic review 美国经济评论 2 The Economist 经济学家 3 Econometrica 计量经济学 4 The Journal of political economy 政治经济学杂志 5 The Quarterly journal of economics 经济学季刊 6 Journal of economic literature 经济文献杂志 7 Academy of management journal 管理学会杂志 8 The Journal of finance 金融杂志 9 Harvard business review 哈佛商业评论 10 The Academy of management review 管理学会评论
cer期刊很有权威性。CER是中国留美经济学会出版的一本广受欢迎的英文学术期刊。目前已经成为研究中国经济 的权威期刊。中国留美经济学会(TheChineseEconomistsSociety,简称CES)于1985年5月26日在纽约成立。它最早的创办理事有6个人,包括美国加州大学 伯克利分校教授、清华经管学院 院长,北京大学校长助理,北大经济研究中心副主任,美国工商管理博士 ,这位曾在美国GE公司 和GM公司做管理工作,现在是美国500强企业Koch公司中国区的总裁。留美经济学会的目的是促进中国市场化改革和对外开放,促进中国与世界的经济交流,促进国外经济学者参与到中国经济学研究中,促进中国经济学的发展。当前,CES在美国、亚洲、欧洲和加拿大以及其他地区的学术界、政府以及跨国公司或者金融服务组织中拥有超过700名成员。每年CES会举办年会促进协会成员间的学术交流。1992年,CES成为社会科学协会联盟成员单位(AlliedSocialScienceAssociation,ASSA)。自从1992年以来,协会独立或者联合其他成员单位赞助举办了一系列的会议。自从1993年以来,CES每年都在大陆举办经济学年会给中国政府 进一步的改革或者建立战略提供建议。与会者包括国内外著名的经济学家、高级政府官员以及商业领袖,这表明CES在中国已经有了巨大政治影响。在每年的年会上,CES都会选出新一届的由六人小组组成的学会领导小组以及一名当选会长(Presidentselected)。当前的CES的当选会长是美国康奈尔大学 经济系终身教授、厦门大学 讲座教授、厦门大学王亚南经济研究院院长洪永淼博士。在福特资金的赞助下,CES每年会选派六名左右的成员到中国大陆各个高校任教。
journal of coperate finance中科院SCI期刊2区。
journal of coperate finance《公司金融期刊》是公司金融领域的国际一流权威期刊,收录了与公司金融有关的优秀原创学术研究成果,选题涵盖资本结构、公司投融资、公司治理等众多领域, 享有很高的学术声誉。2019年,该期刊影响力评分为2.521,五年平均影响力评分为3.819,平均引用分数为5.0。
《公司金融杂志》介绍:
国际金融学顶级期刊《公司金融杂志》旨在出版高质量的原始手稿,分析与公司财务有关的问题。 贡献可以是理论的、经验的或临床的。 主要关注领域包括但不限于:财务结构、支出政策、公司重组、财务合同、公司治理安排、组织经济学、法律结构的影响和国际财务管理。
China Finance Review International创办九年多来,从其前身《中国金融评论》发展为具有国际水平的全英文期刊,已成为一流国内外金融学者学术交流的平台。它从多角度、多层次、多领域综合反映了中国金融问题的最新、最前沿理论与实证研究成果,影响着国内外学者的研究视角。
国际刊号 ISSN: 2044-1398创刊时间 First publish year: 2007Start cooperation with Emerald since 2010出版周期 Frequency: 4 issues per year(季刊,每期6篇)海外合作出版商 Publisher: Emerald Group Publishing读者对象 Audience: 学术研究人员、金融从业者、政策制定者以及对中国和其他发展中经济体的金融市场感兴趣的其他个人和机构愿景——打造中国金融学科国际话语权的英文学术期刊目前的数据库收录情况:Web of Science Emerging Sources Citation Index (ESCI)-since 2016Scopus-since 2016FMS Journal Rating Guide (ranked 34/78, Finance )Business Source Premier (EBSCO)The Chartered Association of Business Schools' (ABS) Academic Journal Guide 2018The Australian Business Deans Council (ABDC) Quality Journal ListABI/INFORM Complete, ABI/INFORM Global, ABI/INFORM Professional AdvancedCabell’s Directory of Opportunities in Publishing in Accounting, Economics and Finance一些代表性的高水平文章:•Textual analysis for China’s financial markets: a review and discussion by Alan Huang, (University of Waterloo), Wenfeng Wu (Shanghai Jiao Tong University) and Tong Yu (University of Cincinnati), Vol. 10 No. 1 •Ownership identity and corporate donations: evidence from a natural experiment in China by Chun-Keung (Stan) Hoi (Rochester Institute of Technology), Jun Xiong (City University of Hong Kong) and Hong Zou (University of Hong Kong), Vol. 10 No. 2 •Implicit and explicit norms and tools of safety net management by Edward Kane (Boston College), Vol. 10 No. 3 •FinTech and household finance: a review of the empirical literature by Sumit Agarwal (National University of Singapore) and Yeow Hwee Chua (National University of Singapore), Vol. 10 No. 4•Consumer finance / household finance: the definition and scope by Jingjian Xiao (University of Rhode Island) and Chunsheng Tao (Minzu University of China), Vol.11 No. 12017年至2020年,CFRI期刊投稿平均接受率在14.5%左右2019年的模拟影响因子在WOS中相当于在Business& Finance领域中的Q2分区期刊截止目前CFRI被SSCI/ESCI期刊引用418次,施引期刊含Review of Finance、Journal of Financial Economics 、Accounting & Finance、Pacific-Basin Finance Journal等金融学科顶尖期刊,以及自然科学,工程学,数学等领域的优质期刊
给你推荐10部:1.The American economic review 美国经济评论 2 The Economist 经济学家 3 Econometrica 计量经济学 4 The Journal of political economy 政治经济学杂志 5 The Quarterly journal of economics 经济学季刊 6 Journal of economic literature 经济文献杂志 7 Academy of management journal 管理学会杂志 8 The Journal of finance 金融杂志 9 Harvard business review 哈佛商业评论 10 The Academy of management review 管理学会评论
cer期刊很有权威性。CER是中国留美经济学会出版的一本广受欢迎的英文学术期刊。目前已经成为研究中国经济 的权威期刊。中国留美经济学会(TheChineseEconomistsSociety,简称CES)于1985年5月26日在纽约成立。它最早的创办理事有6个人,包括美国加州大学 伯克利分校教授、清华经管学院 院长,北京大学校长助理,北大经济研究中心副主任,美国工商管理博士 ,这位曾在美国GE公司 和GM公司做管理工作,现在是美国500强企业Koch公司中国区的总裁。留美经济学会的目的是促进中国市场化改革和对外开放,促进中国与世界的经济交流,促进国外经济学者参与到中国经济学研究中,促进中国经济学的发展。当前,CES在美国、亚洲、欧洲和加拿大以及其他地区的学术界、政府以及跨国公司或者金融服务组织中拥有超过700名成员。每年CES会举办年会促进协会成员间的学术交流。1992年,CES成为社会科学协会联盟成员单位(AlliedSocialScienceAssociation,ASSA)。自从1992年以来,协会独立或者联合其他成员单位赞助举办了一系列的会议。自从1993年以来,CES每年都在大陆举办经济学年会给中国政府 进一步的改革或者建立战略提供建议。与会者包括国内外著名的经济学家、高级政府官员以及商业领袖,这表明CES在中国已经有了巨大政治影响。在每年的年会上,CES都会选出新一届的由六人小组组成的学会领导小组以及一名当选会长(Presidentselected)。当前的CES的当选会长是美国康奈尔大学 经济系终身教授、厦门大学 讲座教授、厦门大学王亚南经济研究院院长洪永淼博士。在福特资金的赞助下,CES每年会选派六名左右的成员到中国大陆各个高校任教。
杂志都是出版署备案的正规杂志,双刊号,全国范围内公开发行。要求:1:符合杂志的栏目要求,方向不能偏,不能跨专业2:文章字数不能低于2000字符,一般不高于6000字符,杂志是按照版面排的,一个版面2000-2500字符,最低一个版面起发。3:文章的借鉴率不能超过30%4:符合学术论文的一般格式,要有摘要,关键词和参考文献,要有作者简介。希望对您有所帮助,如果不知道怎么发表,我们可以一起探讨学习一下!
1.金融核心期刊投稿写作技巧(1)参考相关的文献,然后通过自己的方法来进行修改引用到自己的文章当中。(2)在写作的过程当中要将题目,进行处理的,需要简单明了。(3)引言部分必须要注意,这也是一篇文章的核心。2.投稿方式(1)可以选择自己进行投稿当然自己投稿的方式流程,根据杂志社的流程去进行投稿,最大的优势就是省钱,但是,发表的速度以及通过率就会相对低一些。(2)代理投稿这样的方式相对来讲会比较轻松一些,对于作者来讲可以更加轻松地去进行审核,并且能够缩短审核的时间。(3)提前进行投稿,如果说对时间上有一定规定的话就必须要提前做好准备,因为投稿的审核时间会很久的。3.金融核心期刊投稿方法(1)提前做好充分的准备要明确论文的方向,确定题目一定要简单明了。(2)注意论文的质量问题,中文核心期刊,再投稿的过程当中自己的文章,千万不要出现重复率过高的情况超过10%的话就危险了。(3)一般投稿之后等待审核的时间会比较久,所以在这段时间也可以去了解一下相关的知识,做一下准备修改的工作。
国际刊号 ISSN: 2044-1398创刊时间 First publish year: 2007Start cooperation with Emerald since 2010出版周期 Frequency: 4 issues per year(季刊,每期6篇)海外合作出版商 Publisher: Emerald Group Publishing读者对象 Audience: 学术研究人员、金融从业者、政策制定者以及对中国和其他发展中经济体的金融市场感兴趣的其他个人和机构愿景——打造中国金融学科国际话语权的英文学术期刊目前的数据库收录情况:Web of Science Emerging Sources Citation Index (ESCI)-since 2016Scopus-since 2016FMS Journal Rating Guide (ranked 34/78, Finance )Business Source Premier (EBSCO)The Chartered Association of Business Schools' (ABS) Academic Journal Guide 2018The Australian Business Deans Council (ABDC) Quality Journal ListABI/INFORM Complete, ABI/INFORM Global, ABI/INFORM Professional AdvancedCabell’s Directory of Opportunities in Publishing in Accounting, Economics and Finance一些代表性的高水平文章:•Textual analysis for China’s financial markets: a review and discussion by Alan Huang, (University of Waterloo), Wenfeng Wu (Shanghai Jiao Tong University) and Tong Yu (University of Cincinnati), Vol. 10 No. 1 •Ownership identity and corporate donations: evidence from a natural experiment in China by Chun-Keung (Stan) Hoi (Rochester Institute of Technology), Jun Xiong (City University of Hong Kong) and Hong Zou (University of Hong Kong), Vol. 10 No. 2 •Implicit and explicit norms and tools of safety net management by Edward Kane (Boston College), Vol. 10 No. 3 •FinTech and household finance: a review of the empirical literature by Sumit Agarwal (National University of Singapore) and Yeow Hwee Chua (National University of Singapore), Vol. 10 No. 4•Consumer finance / household finance: the definition and scope by Jingjian Xiao (University of Rhode Island) and Chunsheng Tao (Minzu University of China), Vol.11 No. 12017年至2020年,CFRI期刊投稿平均接受率在14.5%左右2019年的模拟影响因子在WOS中相当于在Business& Finance领域中的Q2分区期刊截止目前CFRI被SSCI/ESCI期刊引用418次,施引期刊含Review of Finance、Journal of Financial Economics 、Accounting & Finance、Pacific-Basin Finance Journal等金融学科顶尖期刊,以及自然科学,工程学,数学等领域的优质期刊
杂志都是出版署备案的正规杂志,双刊号,全国范围内公开发行。要求:1:符合杂志的栏目要求,方向不能偏,不能跨专业2:文章字数不能低于2000字符,一般不高于6000字符,杂志是按照版面排的,一个版面2000-2500字符,最低一个版面起发。3:文章的借鉴率不能超过30%4:符合学术论文的一般格式,要有摘要,关键词和参考文献,要有作者简介。希望对您有所帮助,如果不知道怎么发表,我们可以一起探讨学习一下!
大部分学校应该都可以的,汉斯有很多不错的刊,文章质量也不错。不过保险起见还是跟学院确认一下
哈哈哈哈,刚给他们投了一篇稿子,很开心。在他们这投稿主要因为汉斯做的是国际期刊,也被知网收录了,我们学校是认可的。
汉斯出版社的都是正规的国际期刊,并被中国知网全文收录,学校和社会的认可度很高,期刊涵盖面也广,本科毕业基本是可以用的,如果不确定可以先向学校问清楚。
随着经济的全球化以及我国逐步开放金融业,我国的金融体系越来越成为世界金融体系不可分割的一部分。然而20世纪以来频繁发生的金融危机却明白无误地昭示着金融危机的危害性。尤其是对于我们这样一个大国而言,金融危机在某种意义上可能就是一个灾难性的结果。虽然我国迄今还未曾在发生金融危机,但是这并不意味着我国的经济结构和金融体系有多么健全,而更多地可归结为我国先前所处的封闭状态。事实上,国外近年来关于中国爆发金融危机的论调几乎就不曾停止过。比如尼古拉斯•拉迪就认为,中国的金融危机早已成熟,唯一缺乏的是引发危机全面爆发的导火索(吴传俯,2003)。更有《远东经济评论》2002年发表文章认为“中国金融系统在走向毁灭”。虽然这些观点各有其出发点,但是中国经济体系内部存在着许多诱发金融危机的因素却是不争的事实。因此,在金融开放已成为趋势的当前,从其他国家发生的金融危机中汲取经验,防范金融危机并且增强自身抵御金融危机的能力就更显得迫切而重要。 一、理论综述 关于金融危机,比较权威的定义是由戈德斯密斯(1982)给出的 ,是全部或大部分金融指标——短期利率、资产(资产、证券、房地产、土地)价格、商业破产数和金融机构倒闭数——的急剧、短暂和超周期的恶化。其特征是基于预期资产价格下降而大量抛出不动产或长期金融资产,换成货币。金融危机可以分为货币危机、债务危机、银行危机等类型。而近年来的金融危机越来越呈现出某种混合形式的危机。 (一)马克思的金融危机理论 马克思关于金融危机的理论是在批判李嘉图的“比例”理论、萨伊的“市场均衡法则”的基础上建立的。马克思指出,货币的出现使商品的买卖在时间上和空间上出现分离的可能性,结果导致货币与商品的转化过程出现不确定性,而货币作为支付手段的职能在客观上又会产生债务支付危机的可能性;因此,导致金融危机和经济危机的可能性的关键在于商品和货币各自不同的独立运动价值特性。而只要商品、货币存在,经济危机就不可避免,并且会首先表现为金融危机。 马克思进一步指出,“一旦劳动的社会性质表现为商品的货币存在,从而表现为一个处于现实生产之外的东西,独立的货币危机或作为现实危机尖锐化的货币危机,就是不可避免的。” 可见,马克思是将货币金融危机分为两种类型:伴随经济危机发生的货币金融危机和独立的货币金融危机。伴随经济危机的金融危机主要是以市场竞争、资本积累以及信用发展等因素为现实条件,而独立的货币金融危机则是金融系统内部紊乱的结果。同时马克思特别强调了银行信用在缓和和加剧金融危机中的作用。 总的来说,马克思认为金融危机是以生产过剩和金融过剩为条件,表现为企业和银行的流动性危机、债务支付危机,但是其本质上是货币危机。 (二)西方的金融危机理论 早期比较有影响的金融危机理论是由Fisher(1933)提出的债务-通货紧缩理论。Fisher认为,在经济扩张过程中,投资的增加主要是通过银行信贷来实现。这会引起货币增加,从而物价上涨;而物价上涨又有利于债务人,因此信贷会进一步扩大,直到“过度负债”状态,即流动资产不足以清偿到期的债务,结果引起连锁的债务-通货紧缩过程,而这个过程则往往是以广泛的破产而结束。在Fisher的理论基础上,Minsky(1963)提出“金融不稳定”理论,Tobin(1980)提出“银行体系关键”理论,Kindleberger(1978)提出“过度交易”理论, M.H.Wolfson(1996)年提出“资产价格下降”理论,各自从不同方面发展了Fisher的债务-通货紧缩理论。 70年代以后的金融危机爆发得越来越频繁,而且常常以独立于实际经济危机的形式而产生。在此基础上,金融危机理论也逐渐趋于成熟化。从70年代到90年代大致分为三个阶段。第一阶段的金融危机模型是由P.Krugman(1979)提出的,并由R.Flood和P.Garber加以完善和发展,认为宏观经济政策和汇率制度之间的不协调是导致金融危机的原因;第二阶段金融危机模型是由以M.Obstfeld(1994、1996)为代表,主要引入预期因素,对政府与私人之间进行动态博弈分析,强调金融危机由于预期因素存在的自促成性质以及经济基础变量对于发生金融危机的重要作用。1997年亚洲金融危机以后,金融危机理论发展至第三阶段。许多学者跳出货币政策、汇率体制、财政政策、公共政策等传统的宏观经济分析范围,开始从金融中介、不对称信息方面分析金融危机。其中有代表性的如Krugman(1998)提出的道德风险模型,强调金融中介的道德风险在导致过度风险投资既而形成资产泡沫化中所起的核心作用;流动性危机模型(J.Sachs,1998),侧重于从金融体系自身的不稳定性来解释金融危机形成的机理;“孪生危机”( Kaminsky & Reinhart, 1998 ) ,从实证方面研究银行业危机与货币危机之间固有的联系。 二、金融危机的国际经验与教训 从历史上看,早期比较典型的金融危机有荷兰的“郁金香狂热”、英格兰的南海泡沫、法国的密西西比泡沫以及美国1929年的大萧条等等。由于篇幅所限,本文仅回顾20世纪90年代以来所发生的重大金融危机,并试图从中找出导致金融危机发生的共同因素,以为我国预防金融危机提供借鉴。 (一)90年代一共发生了五次大的金融危机,根据时间顺序如下: 1.1992-1993年的欧洲货币危机 90年代初,两德合并。为了发展东部地区经济,德国于1992年6月16日将其贴现率提高至8.75%。结果马克汇率开始上升,从而引发欧洲汇率机制长达1年的动荡。金融风波接连爆发,英镑和意大利里拉被迫退出欧洲汇率机制。欧洲货币危机出现在欧洲经济货币一体化进程中。从表面上看,是由于德国单独提高贴现率所引起,但是其深层次原因是欧盟各成员国货币政策的不协调,从而从根本上违背了联合浮动汇率制的要求,而宏观经济政策的不协调又与欧盟内部各成员国经济发展的差异紧密相连。 2.1994-1995年的墨西哥金融危机。 1994年12月20日,墨西哥突然宣布比索对美元汇率的波动幅度将被扩大到15%,由于经济中的长期积累矛盾,此举触发市场信心危机,结果人们纷纷抛售比索,1995年初,比索贬值30%。随后股市也应声下跌。比索大幅贬值又引起输入的通货膨胀,这样,为了稳定货币,墨西哥大幅提高利率,结果国内需求减少,企业大量倒闭,失业剧增。在国际援助和墨西哥政府的努力下,墨西哥的金融危机在1995年以后开始缓解。墨西哥金融危机的主要原因有三:第一、债务规模庞大,结构失调;第二、经常项目持续逆差,结果储备资产不足,清偿能力下降;第三、僵硬的汇率机制不能适应经济发展的需要。 3.1997-1998年的亚洲金融危机 亚洲金融危机是泰国货币急剧贬值在亚洲地区形成的多米诺骨牌效应。这次金融危机所波及的范围之广、持续时间之长、影响之大都为历史罕见,不仅造成了东南亚国家的汇市、股市动荡,大批金融机构倒闭,失业增加,经济衰退,而且还蔓延到世界其它地区,对全球经济都造成了严重的影响。亚洲金融危机涉及到许多不同的国家,各国爆发危机的原因也有所区别。然而亚洲金融危机的发生决不是偶然的,不同国家存在着许多共同的诱发金融危机产生的因素,如宏观经济失衡,金融体系脆弱,资本市场开放与监控,货币可兑换与金融市场发育不协调等问题.With the globalization of the economy and the gradual opening up of China's financial sector, China's financial system is the world's financial system has increasingly become an integral part. Since the 20th century, however frequent the financial crisis has clearly demonstrated the danger of a financial crisis. Especially for a big country like ours, the financial crisis may in a sense is a disastrous outcome. Although not yet in the event of financial crisis, but this does not mean that China's economic structure and how a sound financial system, and more can be attributed to China's closed earlier. In fact, in recent years, foreign financial crisis on China's argument almost never stopped. • For example, Nicholas Lardy on China's financial crisis is already mature, the only lacking is full-blown crisis of the fuse (down Wu, 2003). More, "Far Eastern Economic Review" published an article in 2002 that "China's financial system in the direction of destruction." Although these views have their starting point, but within the Chinese economy there are many factors that trigger the financial crisis, it is an undisputed fact. As a result, has become the trend of financial liberalization of the current, which occurred from other countries learn from the experience of the financial crisis and prevent financial crises and to strengthen its ability to withstand the financial crisis is all the more urgent and important. I. Theory On the financial crisis, the authority of the definition of comparison is by Goldsmith (1982) given that all or most of the financial indicators - short-term interest rates, assets (assets, securities, real estate, land) prices, the number of business bankruptcy and the closure of a number of financial institutions - the sharp, short and ultra-cycle deterioration. Its characteristics is based on the expected decline in asset prices and a large number of out of real estate or long-term financial assets into the currency. Financial crisis can be divided into currency crises, debt crises, banking crises, such as the type. In recent years more and more of the financial crisis showed a mixed form of crisis. (A) Marx's theory of financial crisis Marxist theory on the financial crisis in the Ricardian criticism of the "proportional" theory, say the "market equilibrium rule" based on the. Marx pointed out that the emergence of the currency of the sale of goods in time and space emerged the possibility of separation, resulting in the conversion of currency and commodity process uncertainty, and currency as a means of payment in the objective function of the debt will have to pay the possibility of a crisis; therefore, lead to a financial crisis and economic crisis lies in the possibility of their goods and monetary value of different characteristics of the independence movement. And so long as the commodity, currency exists, the economic crisis is inevitable, and will first be reflected in the financial crisis. Marx further pointed out that "once the performance of the social nature of labor as a commodity currency exists, and thus the performance of the production of a reality other than in things, an independent monetary crisis or acute crisis, as the reality of the currency crisis is inevitable." Can be seen Marx is the monetary and financial crisis will be divided into two types: with the economic crisis occurred in the monetary and financial crisis and an independent monetary and financial crisis. With the economic crisis of the financial crisis is based on market competition, capital accumulation, as well as the development of factors such as credit for the actual conditions, and an independent monetary and financial crisis in the financial system is the result of internal disorder. At the same time, special emphasis on Marxism in easing bank credit and increased the role of the financial crisis. In general, Marx believed that the financial crisis is overproduction and a surplus for the financial conditions, performance for the enterprise and banking liquidity crisis, debt payment crisis, but it is essentially a currency crisis. (B) the Western theory of financial crisis Comparison of influential early theory of the financial crisis by Fisher (1933) raised the debt - deflation theory. Fisher believes that the process of economic expansion, the increase in investment was mainly achieved through bank credit. This will cause an increase in currency in order to price increases; and inflation and in favor of the debtor, the credit will be further expanded, until the "over-indebtedness", and that is not enough liquid assets maturing debt obligations outstanding, the result was a chain reaction of debt - deflation process and this process is often the end of a wide range of bankruptcy. In the basis of Fisher's theory, Minsky (1963) put forward the "financial instability" theory, Tobin (1980) that "the key to the banking system" theory, Kindleberger (1978) that "excessive trading" theory, MHWolfson (1996) put forward " decline in asset prices "theory, the different aspects of their development from the Fisher's debt - deflation theory. 70 since the outbreak of the financial crisis are becoming more and more frequent, and often independent of the actual form of the economic crisis arising. On this basis, the theory of financial crises are becoming more and more mature. From 70's to 90's roughly divided into three stages. The financial crisis in the first phase of the model is by P. Krugman (1979) put forward by R. Flood and P. Garber and development to perfect that the macroeconomic policies and exchange rate system is the lack of coordination between the causes of financial crisis ; the second phase of financial crisis, the model is by M. Obstfeld (1994,1996), represented mainly the introduction of the expected factors, between the Government and the private sector dynamic game analysis, stressing that the financial crisis as a result of factors expected to contribute to the nature of the self as well as economic the basis of variables for the occurrence of the important role of the financial crisis. The 1997 Asian financial crisis, the financial crisis to the third phase of theoretical development. Many scholars out of monetary policy, exchange rate system, fiscal policy, public policy, such as the traditional scope of macroeconomic analysis, from the financial intermediation, asymmetric information analysis of the financial crisis. One representative, such as Krugman (1998) raised the risk of moral hazard model, to emphasize the moral hazard of financial intermediaries in the investment subsequently led to the formation of excessive risk of asset bubbles in the central role; liquidity crisis model (J. Sachs, 1998) , focusing on its own financial system from instability to explain the formation mechanism of the financial crisis; "twin crises" (Kaminsky & Reinhart, 1998), empirical research from the banking crisis and currency crisis in the inherent link between. Second, the financial crisis and lessons of international experience Historically, typical of early financial crisis, the Netherlands, "Tulip Fever", the South Sea Bubble in England, France and the United States of the Mississippi bubble in 1929 and so on of the Great Depression. Due to limited space, this article only to recall the 20th century have occurred since the 90's a major financial crisis, and attempts to find financial crisis led to the common factors that prevent financial crises in our country for reference. (A) a total of 90 occurred during the five major financial crisis, according to chronological order as follows: 1.1992-1993 in the European currency crisis The early 90s, the two Germanys merged. In order to develop the eastern part of the regional economy, Germany in June 16, 1992 to raise its discount rate to 8.75 percent. The results mark the exchange rate began to rise, causing the European exchange rate mechanism of the instability as long as 1 year. The outbreak of the financial crisis after another, pound sterling and Italian lira were forced to withdraw from the European Exchange Rate Mechanism. European currency crisis in the European Economic and Monetary integration process. On the surface, is due to Germany to raise the discount rate arising from a separate, but their deep-seated reason is that EU member states co-ordination of monetary policy, thereby fundamentally contrary to the Joint floating exchange rate system requirements, and macroeconomic policy does not Coordination with EU Member States the difference between economic development are closely linked. 2.1994-1995 financial crisis in Mexico. December 20, 1994, the Mexican peso against the U.S. dollar suddenly announced fluctuations of the exchange rate will be extended to 15%, as the economy's long-term accumulation of contradictions in the market would trigger a crisis of confidence, the result of people selling their pesos, early in 1995, the peso devaluation 30%. Subsequent stock market drop. Substantial depreciation of the peso and the inflation caused by input, so that in order to stabilize the currency, a substantial increase in Mexican interest rates, the result of reduced domestic demand, a large number of enterprises closed down, unemployment increased. In the international assistance and the efforts of the Government of Mexico, Mexico's financial crisis began to ease after 1995. Mexico's financial crisis for three main reasons: First, the scale of debt, structural imbalance; Secondly, the current account deficit continued, resulting in lack of reserve assets, decreased liquidity; Third, the rigid exchange rate regime can not adapt to the needs of economic development. 3.1997-1998 years of the Asian financial crisis The Asian financial crisis was a sharp devaluation of the Thai currency in Asia, the formation of a domino effect. The financial crisis affected the scope and duration, the effects of history are rare, not only in Southeast Asian countries resulted in the currency markets, the stock market turbulence, a large number of financial institutions collapse, rising unemployment, economic recession, but also spread to the world other regions of the global economy has had a significant impact. The Asian financial crisis, involving many different countries, the reasons for the outbreak of the crisis also differ. However, the occurrence of the Asian financial crisis is not accidental, there are many different countries induced by common factors arising from the financial crisis, such as macro-economic imbalances, the fragile financial system, capital market openness and control, currency convertibility and financial market development and other non-conforming issue
董华春 纽约大成律师事务所(Dacheng Law Offices)合伙人(执业重点为美国上市/私募/投资并购/基金),中美法律交流基金会(the U.S.-China Legal Exchange Foundation)会长,世界银行项目专家,曾供职于美国证券交易委员会(U.S. Securities and Exchange Commission,SEC),审批过证券发行上市,监控过上市公司信息披露,调查过上市公司违反美国证券法的行为,参与过对违法公司的具体诉讼,起草过美国证券法具体规则,并获得美国证券交易委员会颁发的“经纪商-交易商监管资格证书”和“证券发行会计审计专业培训证书”。 董华春为全国青联留学人员联谊会金融投资委员会秘书长,清华大学华商研究中心秘书长,清华大学法学院博士后,北京大学国际金融法博士(曾被评选为“北京大学学术十杰”),美国宾夕法尼亚大学证券法博士,香港大学访问学者,香港法律教育信托基金会访问学者。曾出版专著《美国共同基金风云》、《<证券投资基金法>条文释义与法理分析》、《金融法概论》、《证券市场违法违规行为透视》、《金融法典型案例》、《金融法小词典》等多本著作,在美国Harvard China Review(哈佛中国评论),International Trade Law Journal(国际贸易法)等期刊上发表英文论文多篇,在《金融法苑》、《法制日报》、《21世纪经济报导》、《证券市场导报》以及其他法学期刊上发表论文五十余篇。联系邮箱 。 纽约大成律师事务所(Dacheng Law Offices)合伙人(执业重点为美国上市/私募/投资并购/基金),中美法律交流基金会(the U.S.-China Legal Exchange Foundation)会长,世界银行项目专家,曾供职于美国证券交易委员会(U.S. Securities and Exchange Commission,SEC),审批过证券发行上市,监控过上市公司信息披露,调查过上市公司违反美国证券法的行为,参与过对违法公司的具体诉讼,起草过美国证券法具体规则,并获得美国证券交易委员会颁发的“经纪商-交易商监管资格证书”和“证券发行会计审计专业培训证书”。董华春为全国青联留学人员联谊会金融投资委员会秘书长,清华大学华商研究中心秘书长,清华大学法学院博士后,北京大学国际金融法博士(曾被评选为“北京大学学术十杰”),美国宾夕法尼亚大学证券法博士,香港大学访问学者,香港法律教育信托基金会访问学者。曾出版专著《美国共同基金风云》、《<证券投资基金法>条文释义与法理分析》、《金融法概论》、《证券市场违法违规行为透视》、《金融法典型案例》、《金融法小词典》等多本著作,在美国Harvard China Review(哈佛中国评论),International Trade Law Journal(国际贸易法)等期刊上发表英文论文多篇,在《金融法苑》、《法制日报》、《21世纪经济报导》、《证券市场导报》以及其他法学期刊上发表论文五十余篇。联系邮箱 。
郁闷,那么多。
The financial crisis have affect many different area of the world .Asia is one of them .since the building of global economy system .the economic connection of the world have became more and more close! Now ,the effect of the crisis in develop country is very serious .More and more people become jobless .Asia have prepared for meeting any challenge.many country in Asia want cooperate more close .because the effect of the crisis hurt the developing country deeply