作　　者： ;

机构地区： 华南理工大学经济与贸易学院

出　　处： 《改革》 2011年第7期64-70,共7页

摘　　要： 金融体系具有内在的亲周期性,在与实体经济相互作用下,容易放大经济的周期性波动。金融体系的发展催生和加剧亲周期性,进而对宏观经济和金融体系稳定性的影响增强,甚至可能引发系统性金融危机。应全面认识现代金融体系下亲周期问题产生的原因,建立缓释亲周期性、防范系统性风险的金融稳定框架。 Financial systems are inherent pro-cyclical. Under the interaction with real sector, it is easy to amplify periodic fluctuation in the real economy. The development of financial system can aggravate the pro-cyclicality, which can affect the stability of macroeconomy and financial system, even leading to systemic financial crisis. Thus, we should fully understand the causes of pro-cyclicality in the modern financial system, and establish the corresponding financial stabilizing framework to mitigate proeyclicality and prevent systemic risk.

关 键 词： 金融体系 周期性波动 金融风险防范

领　　域： [经济管理—金融学]