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Financial instruments

2020-12-15 来源: 51Due教员组 类别: Essay范文

下面为大家整理一篇优秀的essay代写范文 --Financial,文章描述这是一篇美国代写essay,本文首先探讨了世界金融体系的发展现状。其次,通过对2008年金融危机案例的分析,探讨影响金融体系繁荣与衰退的原因。最后,本文将总结一个国家在金融周期各个阶段基于这些原因所采取的应对措施。

Firstly, this paper discusses the development status of the world financial system. Secondly, through the analysis of the financial crisis cases in 2008, this paper explores the reasons that affect the prosperity and recession of the financial system. Finally, this paper will summarize the measures taken by a country at all stages of the financial cycle based on these reasons.



For a long time, the role of the impact of financial factors on real economy has always been a hot issue of concern for economists. In the financial sector, the financial system and financial policy have increasingly become an integral part of the economic system. The economic cycle theory’s financial neutral set in the early stage is seriously challenged (Jović, 2006). In the 1980s, the perfect fusion of financial markets and endogenous growth model enrich the theory of economic cycles. The financial factors having an important position in macroeconomic volatility source and strong conduction can be affirmed by the use of endogenous growth model. In recent years, along with the gradual relaxation of financial regulation and the continuous emergence of financial innovation, financial globalization and diversification of financial instruments have greatly enhanced the mobility of capital, thereby increasing and amplifying the financial risk.




The development status of the world financial system

There are a lot of new features to the world financial system, so it needs to study and grasp the regulations. First of all, in the whole world sphere, the financial system presents a holistic performance displaying as the internationalization of the currency and the integration of the financial system. At present, the global financial system has been formed as a single entity, a new pattern of complementary linkage and a place where the problem will immediately cause a chain reaction. Second, the global financial system is fragile. In case that a link has been signs of trouble, it will immediately form a butterfly effect. Therefore, the entire financial system will have a chain effect. Unfortunately, this trend is unable to control. Although the subprime crisis itself is only involved with hundreds of billions of dollars, it affected the whole world (Zikmund, 1997). Moreover, there is an excess liquidity in the global financial capital. The vast majority of the world's wealth is owned by a few people, thus it greatly increases the flow risk of financial capital. These financial predators make the speculation to a certain extent, and then obtain the shareholders’ money with the result of a financial disaster in future markets, stock markets, housing markets and foreign exchange markets,. There is no exception from the financial turmoil in Thailand to the financial risk of the South Americas.This has become an established formula and the basic law. Finally, it becomes more frequent to the cyclical nature of the financial fluctuations. After World War II, the global economic crisis has been converted from overproduction crisis in the past into a financial crisis. This is the new law of the world economic crisis of capitalism.




Effect of the 2008 financial crisis

The 2008 economic crisis has been the most serious crisis of the world economy sincethe Great Depression crisis in 1930.The 2008 financial crisis occurred when three foams asreal estate, financial markets and the stock market ruptured simultaneously in the big countries of the Western economies. Because these countries dominate the whole world economy, so once they get into a crisis, all countries would be implicated, including China (Bondt, 2010). Market bubble is the inevitable product of the free market economy. China’s internal reform and opening up to the world initially enter the free-market competition. Of course, it will inevitably have to accept the impact and the challenge of the market bubble and the financial crisis.



The 2008 economic crisis mainly has the following characteristics: First, it caused huge damage as it spread to the world's richest countries. As a result, there was a crash in the stock market and the process of recovery was very slow. Second, it was a wide range of impact, especially causing an extremely far-reaching impact to the major import and export trade countries which had a developed economy and technology. Third, it led to a serious damage to the global insurance companies and commercial banks. As known to all, the world's largest commercial banks emerged a huge loss, which induced the collapse of the real economy. Fourth, in order to save the national economy, the governments had to rescue market. And bailout funds like Britain and the U.S. was probably on account of 13 percent of its GDP (Shlens, 2009). The huge losses in the banking system were caused by the greed of the bankers, the government's macro-control ineffective, the failure to supervise banks, excessive loans and investment, and securitization of the asset.








Causes of the booms in the financial system

First, in the face of the recession of the financial system, the Governments around the world, especially those important countries whose economies have a great impact on the world economy, take a positive self-help measures. Once the outbreak of the economic and financial turmoil happen, the fiscal measures of these governments will become active instead of being robust (Andrew, 2009). For example, after the economic crisis in 2008, China has poured 4 trillion investments in construction of infrastructure projects and key projects. At the same time, the limited local governments which have to right to issue bonds provide a financing support to the local development. This greatly stimulates the economy and promotes the recovery.

Second, the constant improvement of the financial system has provided a guarantee to the prosperity of the financial system. The maturing improvement of the financial system has greatly reduced the financial system disorders due to objective factors. At the same time, a sound financial system also improves the speed and efficiency of the whole financial market (Geert, 2009). The financial system raises the times of contact in the world-wide, increases the communication of information, and reduces the financial system’s disorders caused by asymmetric information.

Finally, the stability of the international environment creates a booming hotbed for the stability of the financial system. Since after World War II, the world's environment tends to be peaceful. A large-scale war does not occur and a long-term peaceful environment is likely to continue. Peaceful environment clears obstacles for the development of economy. Furthermore, it also promotes the prosperity of the financial system.




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