Financial Stability In The Process Of Financial Liberalization: The Structural Perspective

Most scholars are more concemed with financial risks in the micro-economy in theirresearch, such as iniereSt rate risk, exchange rate risk, Purchasing power risk, ctc. Butthese kind of financial risks could be avoided or decreased through portfolioinvestmellt and coincting. Smicforal risks could not easily be decreased throughcontracting, though, which is what we look into in this dissotation. And moreimportantly, the risk aversion or risk transfer in individual cases cou1d not decreasethe risk in macro-economy Financial derivatives may even bring out the overexPansion of virtUal fund in global financial system, Which in the cause theinstability of financial system.Besides, financial dereguation has brought profound changes to financial systemstnJcture and a1so greatiy affected the stability of financial system. When East AsiaFinancial Crisis broke out, most economic and financial indicators seemed fine. Bulwhen we examined the economy in the area from the angle of smictUre, we mightgive a more reasonable explanation.When China is on the fast road to economic developmot, of which financialdevelopment is the most significant, we find that close research into financialstrUctuTe and stability might be beneficial to the market-toward practice.General Outline of the DissertationChaPter l Financia1 System Stability f From the Angle of Its Smict-UreAnalyzed the contribution rate of finance to economy from the angle ofsocial cost and contribution and gave a preliminary introduction of themeanng of strUctUral ana1ysis and the goal of the research.Chapter2 General Analysis on Financial DeregUlation and Financial SmictuTalStabilityAnalyzed the pros and cons of financial deregUlation; the issue offinancial safety and financial smictural stability.Chapter 3 Global Financial Stability during the course of Financial DeregUlationAnalyzed the history of financial regUlation and financial systemsghctuIe, stfuctural changes of global financial system and its impact onfinancial stability.4ChaPter 4 Financial Stability during the course of Smictural RefOrm in DevelopingCountries and Transition CountriesGave an introspect of financial stfuctural refOrms in developing andtransition countries.ChaPter 5 Financial SmiCfore and Financial Development in ChinaAnalyzed the characteristics of Chinese financial smictUre, the problemswithin and the impact on financial stability'ChaPter6 Cotmtermeasure to Stabilize Chinese Financial Reform andDevelopment. Gave a preliminare counermeasure to stabilize Chinese FinancialRefOrm according to the requirement, the goal, the transition path offinancial stfucforal reformNew Ideas and Conclusionl. The aUthor drew the fOllowing conclusions thxOugh in-dePth analysis:2. Financial deregUlation is an inter-active process of financial regUlation netWorkand business netWork. The smooth interaction and adaptation should be theultimate goal and should be attained to safegUard financial stability.3. Financial deregUlation does not necessarily bring positive effect oul of economicdevelopment.4. The development of the smicture of global financial system is a ongoing processof its own and somCtimes haste does make waste.5. Politics should be taken into consideration in analyzing financial stability in thepost cold war worid.6. The defects in financial systematic strUcfore in China might help in risks'transfering from industrial sectOr to financial system. As the supervsorycapability of relevant authority need a large boost and grave measures must betaken to prevent financial crisis from taking place in China fOr years to come.Last but not the least, please note the viewpoiflts and conclusions in this dissertationare from the author's limited observation and research ouly There must remainmuch discrepancy for argument and further imProvemed.