发帖
雷达卡
Author
Anamika Mukherjee Deputy Director- Research & Journal, Institute of Cost and Works Accountants of India, ICWAI
Debabrata Datta1 Professor, Institute of Management Technology, Nagpur
Abstract
Recent financial crisis in USA is traced to several factors like reckless lending, financial engineering with novel instruments, practice of securitization, promotion of housing finance by government, greed and capitalist vices. But this problem would not have taken crisis dimension unless global macroeconomic imbalance, resulting from huge current account deficit of US economy was financed by Asian economies, particularly Chinese economies. The resultant overspending in USA without any liquidity crunch created an atmosphere, conducive to financial mismanagement. So problem cannot be fully overcome unless problem of macroeconomic imbalance is addressed. Global equality of savings and investment is not enough. There is need for local equilibrium, since existence of non traded goods within national boundary is a reality.
Content
Introduction
Emergence of the crisis
Global imbalance – the root cause
Future policy agenda
注：个人觉得这篇文章分析此次金融危机短小精悍，尤其在溯源方面，从宏观经济学角度提出与众多西方论点（market failure and moral hazard）不同的观点（global imbalance），感觉新颖，希望对感兴趣的朋友有所帮助。
京公网安备 11010802022788号
