The Systematic Endogenous Mechanism of Financial Crisis Based on Big Data Analysis and its Quantitative Analysis

DOI

10.2991/ieesasm-18.2019.101How to use a DOI?

Keywords

economic crisis; endogenous relationship; mechanism; big data analysis

Abstract

By reflecting on the evolution logic of the subprime mortgage crisis in the United States, this paper finds that the subprime mortgage crisis directly triggered by the decline of house prices and the rise of benchmark interest rates in the United States has evolved into a global systemic financial crisis mainly due to the securitization of subprime mortgages and the innovation of various structural financial derivatives, which has led to the evolution of the credit crisis into an asset price crisis, the market-marking pricing rules and dynamic credit rating. The "excessive pro-cyclicality" inherent in the financial system, such as risk management within banking institutions, worsens the capital market crisis. The sharp decline of global asset value, through the role of wealth effect, Tobin Q effect and financial accelerator mechanism, makes the crisis transmitted from financial market to real economy, and through international trade channels and investment channels from consumer countries to productive countries and finally to resource-based countries.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Fengrui Zhang
PY  - 2019/01
DA  - 2019/01
TI  - The Systematic Endogenous Mechanism of Financial Crisis Based on Big Data Analysis and its Quantitative Analysis
BT  - Proceedings of the 2018 6th International Education, Economics, Social Science, Arts, Sports and Management Engineering Conference (IEESASM 2018)
PB  - Atlantis Press
SP  - 528
EP  - 531
SN  - 2352-5398
UR  - https://doi.org/10.2991/ieesasm-18.2019.101
DO  - 10.2991/ieesasm-18.2019.101
ID  - Zhang2019/01
ER  -