亚洲金融危机成因的综合诠释

亚洲金融危机发生在金融、经济、制度全面落后的外围国家,最直接的原因是与金融有关的各种因素,包括国际资本的外部冲击、盲目推进金融自由化、金融监管不力、金融市场发育比较落后、金融体制不健全等。中间层次是经济领域的问题,主要是国内经济失衡、经济周期和全球经济失衡。而更深层次的因素则与东亚的发展模式、国际货币金融体系中的弊病和弱点有关。亚洲金融危机可谓前车之鉴,全面探究亚洲金融危机产生的根源,对于崛起中的中国有效防止金融危机的发生,应对外部金融危机带来的冲击,治理全球金融危机综合症、并发症具有一定的参考和指导价值。

Comprehensive Interpretation of Causes of the Asian Financial Crisis

The Asian financial crisis occurred in the peripheral countries, which were backward and underdeveloped in the respects of finance, economy and institution. The direct reasons were significantly related to financial factors, including external shocks of international capital, premature financial liberalization, impotent financial supervision, backward financial market, imperfection of financial system and so on. Problems in the economic field such as business cycle, domestic economic imbalance and global economic imbalance were important causes of the crisis. The fundamental reasons for the crisis were the defects of East Asian mode of development and international monetary and financial system. The Asian financial crisis was a big lesson. Comprehensively exploring and researching root causes of the Asian financial crisis could give some guidance to the rise of China, which might effectively prevent the occurrence of financial crisis, deal with the impact of external financial crisis and treat the syndromes of the global financial crisis.