指导美国essay片段赏析:Financial_美国essay_ESSAY_ukassignment,英国作业|留学生作业网

这是一篇美国指导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.

长期以来，金融因素对实体经济影响的作用一直是经济学家关注的热点问题。在金融领域，金融体系和金融政策日益成为经济体系的组成部分。经济周期理论早期的金融中性设定受到严重挑战（Jovi_，2006）。80年代，金融市场与内生增长模式的完美融合，丰富了经济周期理论。运用内生增长模型可以肯定金融因素在宏观经济波动源中具有重要地位，传导能力强。近年来，随着金融监管的逐步放松和金融创新的不断出现，金融全球化和金融工具多元化极大地增强了资本的流动性，从而增加和放大了金融风险。

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.

世界金融体系的发展现状

世界金融体系有许多新的特点，需要对其进行研究和把握。首先，在整个世界范围内，金融体系呈现出货币国际化和金融体系一体化的整体绩效表现。目前，全球金融体系已经形成了一个单一的实体，一种新的互补联动模式，一个问题将立即引发连锁反应的地方。第二，全球金融体系脆弱。如果链接出现问题，它将立即形成蝴蝶效应。因此，整个金融体系将产生连锁效应。不幸的是，这种趋势无法控制。尽管次贷危机本身只涉及数千亿美元，但它影响了整个世界（Zikmund，1997年）。此外，全球金融资本流动性过剩。世界上绝大多数财富为少数人所有，大大增加了金融资本的流动风险。这些金融掠夺者在一定程度上进行了投机，然后在未来市场、股票市场、房地产市场和外汇市场发生金融灾难的情况下获得股东的资金。从泰国的金融动荡到南美洲的金融风险，没有例外，这已经成为一个既定的公式和基本法。最后，对于金融波动的周期性而言，它变得更加频繁。第二次世界大战后，全球经济危机已由过去的生产过剩危机转变为金融危机。这是世界资本主义经济危机的新规律。

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.

2008年金融危机的影响
2008年的经济危机是1930年大萧条以来世界经济最严重的危机，2008年的金融危机发生在西方经济大国的房地产、金融市场和股票市场三大泡沫同时破裂的情况下。因为这些国家主导着整个世界经济，所以一旦他们陷入危机，所有国家都会受到牵连，包括中国（Bondt，2010年）。市场泡沫是自由市场经济的必然产物。中国的内部改革开放初步进入自由市场竞争。当然，它必然要接受市场泡沫和金融危机的冲击和挑战。

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.

2008年的经济危机主要有以下几个特点：第一，它蔓延到世界最富有的国家，造成了巨大的破坏。结果，股市出现了崩盘，复苏过程非常缓慢。第二，影响范围广泛，特别是对经济技术发达的主要进出口贸易国造成了极其深远的影响。第三，它对全球保险公司和商业银行造成了严重损害。众所周知，世界上最大的商业银行出现了巨大的亏损，导致了实体经济的崩溃。第四，为了挽救国民经济，政府不得不拯救市场。像英国和美国这样的救助基金可能占其国内生产总值的13%（Shlens，2009年）。银行体系的巨大损失是由于银行家的贪婪、政府的宏观调控不力、银行监管不力、过度的贷款和投资以及资产证券化造成的。

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.

金融体系繁荣的原因
首先，面对金融体系的衰退，世界各国政府，特别是那些经济对世界经济有重大影响的重要国家，采取积极的自救措施。一旦经济和金融动荡爆发，这些政府的财政措施将变得积极而不是稳健（Andrew，2009年）。例如，2008年经济危机后，中国在基础设施项目和重点项目建设方面投入了4万亿美元。同时，有权发行债券的有限地方政府为地方发展提供了融资支持。这极大地刺激了经济，促进了复苏。

第二，金融体系的不断完善，为金融体系的繁荣提供了保障。随着金融体系的不断完善，客观因素导致的金融体系紊乱大大减少。同时，健全的金融体系也提高了整个金融市场的速度和效率（Geert，2009年）。金融体系提高了世界范围内的联系次数，增加了信息交流，减少了信息不对称导致的金融体系紊乱。

最后，国际环境的稳定为金融体系的稳定创造了一个蓬勃发展的温床。第二次世界大战以后，世界环境趋于和平。不发生大规模战争，长期和平环境可能继续。和平环境为经济发展扫清了障碍。此外，它还促进了金融体系的繁荣。#p#分页标题#e#

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.