基于美国次贷危机视角的我国资产证券化发展

2007年2月,美国次贷危机爆发。随着其对全球金融的影响不断扩大和深化,对资产证券化质疑的声音随之增加。本文通过深入分析美国房贷证券化的发展过程及次级贷款危机的原因,结合我国资产证券化实践,得出资产证券化工具运用本身并不是导致次贷危机的根本原因。对我国的资产证券化的稳定推进提出了政策性建议。

China equity securitiliztion development basing on American sub crime angle

The subprime mortgage crisis of the USA br oke out in Feb, 2007.As the expansion and deepening of financial effect it brings, the voice of questioning increases. This paper analyzes the process of the development of the asset-backed securitization (ABS) and the reasons of subprime mortgage crisis, combining with the practice of China, obtaining the conclusion that the application of the tools of asset-backed securitization itself is not the basic reason of the crisis. The policy-oriented suggestion is presented for the stable advancement of the ABS of China.