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What American Financial Crisis Has Enlightened On Chinese Financial Legal Construction

Posted on:2012-06-09Degree:MasterType:Thesis
Country:ChinaCandidate:P F DiFull Text:PDF
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The financial crisis erupted in America in 2008 caused great lossfor the world economy, which is the worst financial crisis since post warAmerican. The biggest difference of this financial crisis is thedevelopment of virtual economy has separated from the constraints ofreal economy, and shows new characteristics: virtual economy and realeconomy develop asymmetrically; the great risk of financial innovation;the lack regulation of financial derivatives. These entire newcharacteristics make the 2008 financial crisis appears unusual. From thisthesis, author wants to look for the shortage of China's financialregulatory filed and put forward the revised suggestions through learningthe drawbacks performed during American financial crisis in the field offinancial regulatory in respect to improve the ability to resist financial risk. America is the world financial center, which has led the developmentof world economy. Along with the development of real economy, thevirtual economy also has made very great achievement. The real economyis the basis of virtual economy and restricts the development of virtualeconomy, the development of virtual economy needed matching with thereal economy. If the scale and speed of virtual economy developmentexcessively separated from the real economy, it will trigger financial riskand break out financial crisis. In the development course of virtualeconomy of America, the economic regulatory of government also hascertain wrong concepts. The regulatory concept of Neoliberal haspaved the way of financial industry development, but also buried thecurse of regulatory vacancy and future financial crisis. In the view of allloopholes happened in financial supervision areas in America, the authorthinks that China should further improve its financial regulatory andcontract the regulatory framework to ensure the healthy and stabledevelopment of financial industry with strengthened internationalcooperation and perfect technology crime punishment laws andregulations.
Keywords/Search Tags:The financial crisis, legislation, financial regulation, thenew liberalism
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