【作者】 赵高翔；

【导师】 黄泽民；

【作者基本信息】 华东师范大学 ， 世界经济， 2009， 博士

【摘要】 本文基于金融危机的不可消除性和金融危机的破坏性展开对金融危机政府救助的研究。进入20世纪90年代后,全球性金融危机爆发的频繁度以及危机具有的广延性、持久性和破坏性,使得这一研究更加迫切和意义重大。只要经济金融全球化、一体化的趋势不被逆转,金融危机就必然会发生,随之而来的金融危机救济就是不可避免的。本文在结构的安排上主要分四个部分:第一部分首先从理论上对政府金融救助提供了支撑。金融的脆弱性是金融的本性,金融的脆弱性在一定的程度上会导致金融危机的爆发。政府恰当的救助行为可以减缓经济的波动。金融业的特殊性决定了其内在的脆弱性,也赋予了金融危机救助特殊的意义。国家干预经济的理论发展为金融危机的政府救助提供了理论基础。作者回顾了国家干预经济的理论演进,分析了在演进过程中政府职能的调整,指出政府干预经济是有必要的。基于金融危机的破坏性和金融业的特殊性,在金融危机发生的时候,政府采取合适的手段去救助危机下的金融也是有必要,能减缓危机的冲击。第二部分对1929—1933年的大危机、美国的储贷危机、日本银行业危机、法国里昂信贷银行危机和美国当前金融危机的金融救助进行了回顾,为政府的金融救助提供了实践上的支撑。第三部分以北欧三国危机、日本银行业危机和美国储贷危机为对象进行了比较研究,分析了三次危机发生的背景和救助过程,指出政府的救市举措及时机的选择在危机治理中至关重要。“救与不救”直接影响着金融危机持续的时间和影响。当金融危机无法通过市场机制来解决时,由政府出面主导的解决措施,是最后的解药。另外,当政府处理的态度越明确,或是应变速度越快时,越能缩小市场震荡的阵痛期,同时社会成本的负担也会愈小。第四部分分析了美国、欧洲和日本的金融救助机制。三个国家和地区经过多次的金融危机洗礼,都建立了一套相对成熟的金融救助机制,通过三个国家的救助机制的分析,对我们后面分析美国当前的金融救助有很好的比较。第五部分对美国当前发生的金融危机的救助进行实证研究。首先分析了美国金融的脆弱性与美国金融危机之间的关系,这为我们接下来探讨美国的金融救助提供了支撑。然后从金融救助措施、救助手段、救助方式等方面对美国当前的金融救助进行了系统的分析。最后对美国当前的救助机制进行了分析和评价,并对救助的效果进行了反思。更多还原

【Abstract】 Out of the presumption that financial crises could not be extinguished and the objective demand to resore market justice and to mitigate the destructive effect of crises.Bailout for Financial Crises is chosen as the topic of my first paper.The author believes,with the accelerating process of globalization and integration,this topic would show the financial circle is significance more and more evidently.This paper consists of 5 parts:The first part,in theory,it has provided the support to the government finance bailout.The financial vulnerability is the financial natural disposition,it can cause the financial crisis in certain degree.The government appropriate rescue behavior may slow down the economical the undulation.The financial industry particularity has decided its intrinsic vulnerability,also entrusted with the financial crisis to rescue the special significance.The development of the government intervention economy theory rescued for the financial crisis government has provided the rationale.the author reviewed the government intervention economy theory evolution,has analyzed in the evolution process the government function adjustment,pointed out the government intervenes the economy to have the necessity.Based on financial crisis destructiveness and the financial industry particularity,in the financial crisis,the government adopts the appropriate method to rescue under the crisis the finance also to have the necessity,that can slow down the crisis the impact.The second part:through the reviewing the 1929-1933 year financial crisis,the US’s Chu loaned crisis,the Japanese Banking industry crisis,the French Lyons Credit Bank crisis and the US current financial crisis,it has provided the practice support for the bailout by government.The third part take the Northern Europe Three Kingdoms crisis,the Japanese Banking industry crisis and the American heir apparents loaned the crisis to conduct the comparison research as the object,has analyzed the background and the rescue process which three crises occurred,pointed out the government rescued the city action and the opportunity choice governs at the crisis very important.“Rescues with does not rescue”is directly affecting the time and the influence which the financial crisis continues.When the financial crisis is unable solves through the market mechanism,by the government acts on behalf of the leading solution measure,is the final antidote Moreover,when the manner which the government processes is more explicit,when perhaps the strain speed is quicker,more can reduce the market shake the labor pain time,simultaneously the social cost burden also can be smaller.The fourth part has analyzed American,European and Japan’s financial rescue mechanism.Three countries and the area pass through many times financial crisis baptism,all has established a set of relatively mature financial rescue mechanism, through three national rescue mechanism analysis,analyzes the American current finance rescue to us behind to have the very good enlightenment.The fifth part the financial crisis rescue which current occurs to US conducts the real diagnosis research.First has analyzed between the American finance vulnerability and the US financial crisis relations,this met down for us discusses US’s financial rescue to provide the support.Then from financial aspects and so on rescue measure, rescue method,rescue way has carried on the system analysis to the American current finance rescue.Finally has carried on the analysis and the appraisal to the American current rescue mechanism,and has carried on reconsidering to the rescue effect.更多还原