美国次贷危机的形成机理及其启示

美国次级抵押贷款市场危机近来成为各界关注的焦点。应该从探究美国次贷危机的源头入手分析其形成原因,理清次贷危机被过度放大的环节所在。近期金融市场的动荡和流动性不足主要是市场的恐慌情绪和投资者避险行为的结果,次贷危机在政策、宏观调控、法律制定等方面对中国房贷市场均有启示。

Formation Mechanism of Sub-prime Debts Crisis in US and its Implications

The sub-prime debts crisis in the United States has become the recent focus of attention.By exploring the origin of this crisis and analyzing the root cause,this article finds out why the sub-prime debts crisis has been over-amplified.It points out that the recent turbulences and liquidity shortage on financial market are mainly caused by the panic on the market and the investors' behaviors to avoid risk.Finally this article discusses the enlightenment of sub-prime debts crisis for China's real estate market in terms of policy,macro-adjustment,and legislation.