摘要
顺周期效应是指主要的金融变量如信贷、利差、贷款损失等与实体经济变量随着经济周期波动而共同运动,并以正反馈方式加剧经济周期波动现象。此次美国次贷危机的产生就与这些顺周期因素密切相关。本文从保险资金来源与运用两方面探讨了我国保险投资顺周期效应形成机制,监管当局应研究出台逆周期监管政策以削弱保险投资顺周期影响,稳定金融体系。
Pro-cyclical effect is mainly refer to the financial variables including credit, interest rate, and loan loss and so on, which co-moves with economic cycle, and reacts positively to strength the fluctuations. The financial crisis started from US is closely related to these pro-cyclical factors. This paper discusses the pro-cyclical effect of insurance investment in China, and the authority should implement reverse-cycle regulations to weaken the pro-cyclical effect, and stabilize financial system.
出处
《金融发展研究》
2012年第9期77-80,共4页
Journal Of Financial Development Research
关键词
保险投资
顺周期效应
逆周期监管
内部评级法
insurance investment, pro-cyclical effects, reverse-cycle regulation, IRB
