A Study Of The American Financial Structure

Nowadays with the spreading of economic globalization and economicfinancialization, economic operation and financial activities are accompanied all thetimes. In the process of finance promoting economic development, the growth offinancial aggregates and the change of financial structure play a role together. Butthe growth of financial aggregates performs as a quantitative expansion, financialstructure is an important symbol to measure a country’s level of financialdevelopment, and is a endogenous power to promote economic growth. Americanfinancial structure is selected as the research object. This paper describes Americanfinancial structure up to two hundred years from the historical perspective, with thechange of bank-based financial structure to market-based financial structure.American financial structure leads the development of the world’s financial growthin product innovation, market mechanisms, financial supervision aspects. Subprimemortgage crisis broke out in2007, however, lead to a rethinking of the theory sectorof American financial structure mode. In this particular context, I look forward tofurther explore the impact of economic growth and financial stability of theAmerican financial structure through the profound study. In the basis of thecomprehensive and objective understanding of the American financial structure’sstrengths and weaknesses, this paper provides some policy recommendations targetto Chinese financial structure. Therefore, research in the post-crisis era Americanfinancial structure has important theoretical and practical significance.Arrangements from the structure, firstly, this paper analyzes the course ofchanges in the American financial structure, combined with the theoretical basis ofthe concept of institutional economics and financial functions, and research the internal factors and the mechanism of the changes in financial structure in theeconomy. As the American financial structure covered by a wider content, this paperfocuses select the financial structure and economic growth, financial structure andfinancial fragility. Because the financial structure and economic growth is animportant content of the field of financial development, combined with the Americaneconomy practice analysis, with strong representation and reference. The financialstructure and financial fragility is based on the American financial liberalization andthe subprime mortgage crisis background, and research deeply in the Americanfinancial structure with the subprime mortgage crisis internal correlation mechanism.Although this study is limited focus of the American financial structure, but contentin each study are trying to elaborate deeply and thoroughly.In the study of the contents of the financial structure and economic growth, thispaper analyses the basis of financial intermediaries, financial markets and economicgrowth mechanism, further extends to the field of study of the American financialstructure and industrial structure. Because industrial structure is an importantcomponent of the economic growth, while the American market-oriented financialstructure plays an important role in the promotion of new industries and in theprocess of the development and upgrading of industrial structure. Market-basedfinancial structure has advantages embodied in information processing, riskmanagement and liquidity. In United States, risk investment mechanism and themulti-level capital market system become incubators nurturing the development andgrowth of high-tech enterprises.In the study of the contents of the financial structure and financial fragility, thispaper analyses the theoretical basis of the financial fragility endogenous financialstructure. Combined with the wave of financial liberalization in the United States,this paper analyses the mechanism of financial liberalization aggravating financialfragility, focusing on the liberalization of interest rates, mixed operation and financial innovation. Subsequently, this paper focuses on the U.S. subprimemortgage crisis and the process of deepening, and analyses the underlying causesfrom the financial fragility Perspective, including the fragility of financial creditexpansion, mixed operation and the shadow banking system.Finally, we learn from the American experience in financial development, andanalyses Chinese financial structure optimization problems. Based on an overview ofthe Chinese financial structure, this paper gives a brief discussion of our financialstructure to support economic development, the problems of the structure offinancial institutions, the structure of financial markets and the financing structure.This paper put forward policy recommendations to further optimize and reform,including the optimization and balanced development of the structure of financialintermediaries and financial markets, the fundamental role of market mechanisms inthe financial structure optimization, and the steady advancement in financialinnovation.