房地产金融风险实证分析-金融学专业论文.docxVIP

economic bubble had directly lead to the depression of its economy. In 1997, the economic crisis happened in Southeast Asian have done great damages not only to the economies of those Southeast Asian Nations but also to the global economy. According to the researches of the Financial crisis of Japan and Southeast Asian, the viewpoint that the real estate was one of the main carriers of the Financial crisis of bubble economy have already been generally acknowledged. In China, the real estate bubble incident happened in Hainan province from 1992 to 1993, which Led to serious bank financial crisis,have had a great negative influence on the real estate of Hainan and that of all the country . At present, the study on real estate financial risk of our country has already attracted an extensive attention, because both scholars and government officers is showing great worries to the investment upsurge and price booming of our real estate market. At the beginning of the 1990s, the real estate financial risk studies were mainly focused on economic theory and qualitative analysis, and, these researches mainly introduced the foreign financial risk mathematical models, which were used to analyze stock-market risk of our securities market 、Japanese Bubble Economy and Southeast Asian financial crisis, but quite little study on real estate financial risk of our country. empirical research on real estate financial risk of our country is more scarce. This paper focuses on studies of the real estate financial risk of our country by the method of theory analysis which combines with empirical research to judge the real estate financial risk of our country happened from 1991 to 2005.Firstly, this paper introduces the characteristic of the financial risk of real estate and analyzes the reasons and breakout mechanism and the development of real estate industry of our country. Then it introduces some theories and techniques of measuring the financial risk. In the empirical research