Financial Asset Securitization and Financial Supervisory

• Main Authors: Ying-Chieh Liao, 廖英傑
• Other Authors: Der-Tzon Hsieh
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/91263177829511366431

碩士 === 國立臺灣大學 === 經濟學研究所 === 98 === Through the structural mechanism of financial asset securitization, the U.S. subprime mortgage crisis erupted in 2007 eventually evolved into a financial crisis sweeping the globe. From the perspective of scope, impact and depth, it’s the most serious economic crisis since the Great Depression lasted from 1929 to 1933, therefore, it was also known as the "financial tsunami". To cope with the economic downturn that followed the financial crisis, the governments worldwide have adopted a series of stimulus programs progressively in order to relieve the economic recession, meanwhile, investigating the causes, transmission mechanism and consequences of the financial tsunami, and trying to find out effective means to prevent similar crises from happening again. The major countries in Europe and America also launched the related financial reform measures. This paper attempts to synthesize the causes for the financial tsunami, its impact on the global economy and the financial markets, and refer to the reform programs launched by major countries, as well as related supervision issues triggered by the financial crisis, finally raise the proposals for financial reform to the financial regulators.