美国金融代写，金融essay代写， Finance金融代写

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金融学essay范文

Financial liberalization

Financial liberalization is a double-edged sword, which can give full play to the regulatory power of the market under certain conditions. However, excessive development or wrong path selection will lead to financial chaos and even the occurrence of financial crisis. In recent decades, many developing countries, led by the United States, have embarked on a wave of financial liberalization that has tied the global economy to U.S. interests. The United States ushered in nearly 20 years of prosperity in the process of financial liberalization, but its economy was finally plunged into crisis due to the runaway financial liberalization.

金融自由化是一把双刃剑，在一定条件下可以充分发挥市场的监管力量。但是，过度发展或错误的路径选择将导致金融混乱甚至金融危机的发生。近几十年来，以美国为首的许多发展中国家走上了一股将全球经济与美国利益联系在一起的金融自由化浪潮。美国在金融自由化进程中迎来了近20年的繁荣，但由于金融自由化失控，其经济最终陷入危机。

For almost 20 years, financial liberalization has been a wonderful phrase for many countries. The theory of financial deepening put forward by McKinnon and shaw in 1973 laid the theoretical foundation of financial liberalization. McKinnon and shaw's financial deepening theory mainly focus on the question of interest rate control of financial repression, with the continuous development of the theory of financial liberalization, expanding the content of the financial liberalisation, including interest rate liberalization, to reduce the financial market admittance standard, relax the separated management of financial institutions, encourage financial product innovation, the currency freely convertible, the floating exchange rate management, open the domestic financial market, etc. In short, the core of financial liberalization is to reduce government intervention in the financial market, loosen the restrictions on financial institutions and the financial market, so that financial prices such as interest rate reflect the relationship between capital supply and demand, and pursue the optimization of capital allocation.

近20年来，金融自由化对许多国家来说都是一个很好的说法。麦金农和肖在1973年提出的金融深化理论奠定了金融自由化的理论基础。麦金农和肖的金融深化理论主要关注金融抑制的利率控制问题，随着金融自由化理论的不断发展，扩大金融自由化的内容，包括利率市场化，降低金融市场准入标准，放松金融机构分离管理，鼓励金融产品创新，货币自由兑换，浮动汇率管理，开放国内金融市场等。总之，金融自由化的核心是减少政府对金融市场的干预放松对金融机构和金融市场的限制，使利率等金融价格反映资本供需关系，追求资本配置的优化。

The collapse of the bretton woods system in 1973, when the dollar was no longer tied to gold reserves and a floating exchange rate, marked the beginning of global financial liberalisation. In the 1980s, the United States relaxed restrictions on the financial sector by enacting and amending a series of laws. Such as the United States in 1980 congress passed the lifting depository institutions controls and monetary management act, namely the abolition of the "regulation Q", in 1982 passed the act of grace - st. germain savings institutions, through the fair competition banking act in 1987, passed in 1989, the financial institution reform, Renaissance and implementation plan, completely abolished after the great depression of the glass - steger, act of the basic principles, gradually formed in order to realize the mixed management, encourage financial innovation and financial regulation, relaxing the financial liberalization reform with the characteristics of international capital free flow pattern. Since the 1970s, under the strong impetus of the United States and other developed countries, the financial liberalization reform that abandons the Keynesian economic policies and advocates the neo-liberal policies has become a wave sweeping the world. Attempts to liberalise finance in many developing countries have mostly failed. However, after more than 20 years of financial liberalization, the United States, which is billed as the "most liberal", suffered the "once-in-a-century" subprimecrisis due to excessive financial speculation and out-of-control financial market regulation, and triggered the global financial crisis. It can be seen that financial liberalization is a double-edged sword for any country. Under certain conditions, it can give full play to the regulating power of the market and contribute to the improvement of financial efficiency and capital efficiency. However, excessive development or wrong path selection will lead to financial chaos.