Real Estate Financial Innovation and Risk Management Analysis on American Subprime Mortgage Crisis

摘要：

This paper briefly discusses the relationship between financial innovation and risk management,introduces studies on the subprime mortgage crisis at home and abroad and analyzes the crisis from the perspective of real estate financial innovation and risk management.Detailed analysis is made about financial innovations in real estate sector over the recent dozens of years in America from the aspects of system and financial tools with actual examples.Then the paper comments on achievements and defects of the innovations and analyzes risk management in financial innovation in the fields of risk management mechanism,risk management problems and eruption of crisis.Finally,the paper concludes that the subprime mortgage crisis is a typical example of imbalance between real estate financial innovation and risk management and suggests that proper attentions should be paid to both financial innovation and risk management so as to achieve a balanced development of them.

关键词： Real estate financial innovation Risk management Imbalance Subprime mortgage crisis

作者: Bai Shan

作者单位: School of Economics,Wuhan University of Technology,Wuhan,P.R.China,430070

会议类型: 国际会议

会议名称: 第三届产品创新管理国际会议(The 3rd International Conference on Product Innovation Management)

会议地点: 武汉

会议语种:英文

在线出版日期: 2008-10-26（万方平台首次上网日期，不代表论文的发表时间）