引发国际金融危机的原因分析--Research paper范文

英国论文代写平台整理出的 research paper范文：“引发国际金融危机的原因分析”，这篇论文主要描述的是国际金融危机的爆发影响着世界经济的发展，那么是什么原因导致了美国会引发金融危机呢？本人认为美国金融危机爆发的原因主要是美国过度消费情况严重、收入分配不均导致贫富差距悬殊、美国政府宏观调控不当、房地场市场泡沫失去了平衡。正是因为这些原因导致了美国金融危机的爆发。

1 United States excessive consumption

United States of excessive consumption and excess savings in Asia's emerging market countries are the underlying causes of the crisis. For a long time United States domestic savings are low, foreign economic relations characterized by chronic trade deficits, the average annual level of deficit to total GDP reached 6%, and essentially by printing dollars "to pay". While China, Japan and other Asian countries, and residents of oil-producing countries is an excess of savings, long-term trade surpluses, accumulate large dollar reserves. These United States dollar reserves outside the economy needs to find the corresponding financial assets to investments, which Wall Street derivatives created, United States Home provides the basis of asset-price bubbles.

2, increased inequality, rapid expansion of consumer credit

Look at a set of data: from 1971 to 2007, the United States Enterprise average 17.6 dollars per hour, down from us $10 per cent, United States the wage gap between executives and ordinary employees, from 40:1 to 357:1 per cent, United States population expanded from US $120 billion to us $2.5 trillion consumer credit 2007 United States real estate mortgage market size of $11.5 trillion, equivalent to 83% of GDP

A big reward

3 improper macro-control.

Federal Reserve in order to control the economy, Greenspan repeated interest rate cuts before the first was in 2003, from 5% to 1%. Rate cuts make borrowing costs decline, lured many people rely on subprime mortgage to buy a House, contributed to the real estate "bubble". Then the fed to control inflation, also raised its deposit and lending interest rates 13 consecutive times, beginning of 2006 from 1% to 5.3%. Because of high interest rates and loan costs are high, principal roll interest, the more bigger, increase the pressure of repaying. Fed-led loan interest reduction before the rise of "u"-shaped plant the seeds, and makes many people low interest loan to buy a House, then high interest repayment difficult, eventually triggering a crisis.

4 real estate market imbalances.

United States real estate from 2006 began to cool, "bubble" burst, the plunge of property prices, originally priced at $1 million House, now only sells for about $600,000, there has been a comprehensive shrink and fall in real estate. It eventually expects to sell House mortgage people unexpectedly, house prices are falling to the point of selling loans on the House is not the subprime crisis finally emerged, sparking a financial crisis.

Two United States financial crisis performance

1 the phenomenon of stock market crash

By the United States subprime crisis into a global financial crisis and global recession impact in 2008, stock markets around the world plunged. 2008 Dow Jones industrial index was down to 33.8%, the third bad year in the history, second only to the 1907 and 1931. The largest decreases in 1931, standard and poor's 500 index fell 38.5%;Nasdaq Index fell 40.5% to the biggest annual percentage decline. On November 20, 2008, standard and poor's 500 index hit a 11-year low, return that many Americans for more than 10 years, and in just 13 months ago, who has appeared in a record high in the index. As from 2007 and 2008 Chinese a stock market bull feast of the conversion of a bear market, Shanghai and Shenzhen stock markets respectively to 65.39% and 63.36%, the huge decrease in access to global stock market decline in ranking the top five

2 Bank bad loans surge

Problematic banks refers to the deterioration of bank assets, including loans more than 90 days the period, accounts receivable. In the United States subprime mortgage crisis some 13% issues in banking ruin, 2008 2 United States problem banks reached 118, but in the third quarter reached 171, of which US $78.3 billion in troubled assets rose to $115.6 billion. September 2008 United Kingdom of bad assets has reached 3.1%, Spain's bad loan ratio rose to 2.62% from 0.84% in 2007.

3 bank failures and Government assistance

For the United States Government's US $700 billion bailout, 65% United States opposition. United States citizens pointed out that big banks first expansion advocates laissez-faire capitalism, something now and asking in a Socialist manner out of Treasury money banks save capital to their people are unemployed, credit, bankruptcy and losing the House. In addition, there are also international scholars agree that $700 billion is far from enough, Lehman Brothers filed for bankruptcy protection, Washington Mutual declared bankruptcy and was fed after taking over Wachovia deposits may be sold to JPMorgan Chase Bank acquisitions, but Wells Fargo is also interested in mergers and acquisitions.

Three United States effects of the financial crisis

1 large impact on youth employment

Along with the deteriorating economic situation, rising after the outbreak of the financial crisis is accelerating, while the unemployment rate among young people rose especially rapidly. Data show that the EU overall unemployment rose by 1. 5%, 15-to 24-year-olds unemployment rate rose 3. 7%. , 26 of the country's rise in youth unemployment to a different degree. As of the first quarter of this year, the EU unemployment rate among young people has risen to 18. 3%, EU 8. 2% high level of more than 1 time. It is estimated that the EU total 5 million young people unemployed, Euro 3.1 million. Although the first quarter of 2008, roughly European Union youth unemployment rates of men and women, respectively, 14. 7% and 14. 6%.

2 France's public debt size

France National Institute of statistics and economic data released recently showed that first quarter France bonds outstanding increased by 13. 1% to 1. 4 trillion euro, increased from 72 per cent of GDP. 9%, far exceeding the EU stability and Growth Pact required 60% standards. The end of March the French debt has risen to 2. € 20,000. France expects the end of this year the country's public debt to GDP ratio will increase to 77% in 2012 and will be increased to 88%. France's public debt size is closely related to the rapid expansion of the financial and economic crisis. Stocks fell sharply as the financial crisis, make the value of financial assets held by the Government.

3 United States financial regulatory reform

Financial crisis had greatly accelerated the United States the pace of regulatory reform. 17th, local time, the Obama administration released a comprehensive financial regulatory reform package, marking the United States since the 30 's of the last century the biggest financial reforms have thus started. According to prior full exposure of content, above programme will main including several aspects of important content: a is established a new of consumers financial institutions, aimed at protection consumers in and financial institutions of opponents trading in the not "fall cheated"; II is authorized fed and Treasury charge of a new Committee common monitoring financial "system risk", on some "big to cannot pour" of financial institutions, Government right to took over; also has a important content is streamlined part regulatory institutions, while strengthening on derivative products, and hedge fund, of regulatory. Also needs Congress to pass before the final implementation of the scheme, taking into account the sensitive provisions in the new scheme was strongly opposed by some interest groups, officially a few months later is still expected to make modifications.

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