对短期负债与国际金融危机关系的重新审视——基于双重代理的分析 、: 基于双重代理的分析

Translated title of the contribution: Rethinking the Relations between the Short-term Debt and International Financial Crisis: On the basis of dual agency analysis

谷 小青, Baoli Bai

Research output: Contribution to journalArticle

Abstract

Some theorists hold that short-term debt is an important factor that causes international financial crisis and the policy of restricting or banning the short-term capital by imposing taxes on its influx should be adopted to guard against the financial crisis. On the basis of dual agency analysis, it shows that short-term debt induces the government to adopt a more investor-friendly policy, which ensures the recovering of loans and improves the welfare of the borrowing company and its country. It further points out that the possibility of crisis stems from the exhaustion of the debt capacity rather than the short-term debt itself.
Original languageChinese (Simplified)
Pages (from-to)35-38
Number of pages4
Journal国际经贸探索
Issue number06
Publication statusPublished - 2004

Fingerprint

Financial crisis
Short-term debt
Factors
Investors
Tax
Loans
Exhaustion
Borrowing
Government
Debt capacity

Keywords

  • international financial crisis
  • short-term debt
  • dual agency

Cite this

@article{fbacf18f8b9c4649afbc7901a4644e48,
title = "对短期负债与国际金融危机关系的重新审视——基于双重代理的分析 、: 基于双重代理的分析",
abstract = "按照金融危机理论,短期负债是造成国际金融危机的重要原因,为了防止金融危机的爆发,应该通过对短期资本流入征税等措施来限制甚至禁止短期外债。但基于双重代理的分析,短期负债会使政府采取对投资者更为有利的政策,这在确保贷款方回收贷款的同时,也提高了借款企业以及借款国的福利水平。因此,危机的原因应归结为借款方对借款能力的耗竭,而不是短期负债。",
keywords = "international financial crisis, short-term debt, dual agency, 国际金融危机, 短期负债, 双重代理",
author = "小青 谷 and Baoli Bai",
year = "2004",
language = "Chinese (Simplified)",
pages = "35--38",
journal = "国际经贸探索",
issn = "1002-0594",
number = "06",

}

TY - JOUR

T1 - 对短期负债与国际金融危机关系的重新审视——基于双重代理的分析 、

T2 - 基于双重代理的分析

AU - 谷, 小青

AU - Bai, Baoli

PY - 2004

Y1 - 2004

N2 - 按照金融危机理论,短期负债是造成国际金融危机的重要原因,为了防止金融危机的爆发,应该通过对短期资本流入征税等措施来限制甚至禁止短期外债。但基于双重代理的分析,短期负债会使政府采取对投资者更为有利的政策,这在确保贷款方回收贷款的同时,也提高了借款企业以及借款国的福利水平。因此,危机的原因应归结为借款方对借款能力的耗竭,而不是短期负债。

AB - 按照金融危机理论,短期负债是造成国际金融危机的重要原因,为了防止金融危机的爆发,应该通过对短期资本流入征税等措施来限制甚至禁止短期外债。但基于双重代理的分析,短期负债会使政府采取对投资者更为有利的政策,这在确保贷款方回收贷款的同时,也提高了借款企业以及借款国的福利水平。因此,危机的原因应归结为借款方对借款能力的耗竭,而不是短期负债。

KW - international financial crisis

KW - short-term debt

KW - dual agency

KW - 国际金融危机

KW - 短期负债

KW - 双重代理

M3 - 文章

SP - 35

EP - 38

JO - 国际经贸探索

JF - 国际经贸探索

SN - 1002-0594

IS - 06

ER -