借鉴国际经验推动我国政府主导型住房抵押贷款证 券化-金融学专业论文.docxVIP

摘 摘 要 近年来中国楼市发展迅猛，住房抵押贷款涨幅惊人，银行资金短缺、流动性 风险等随之而来。因此，通过住房抵押贷款证券化这个创新工具，扩大住宅融资 渠道，降低金融风险是以后发展的必然趋势。选择适当的运作模式是住房抵押贷 款证券化在我国成功与否的关键，本文就此问题展开了深入的研究。 本文共分五章，第一章引入住房抵押贷款证券化概念，并分析其与传统融资 方式的区别。第二章阐述政府主导型和市场主导型住房抵押贷款证券化两种不同 模式的理论基础。第三章分别介绍两种不同模式的住房抵押贷款证券化，并作详 细的利弊比较，认为政府主导型具有更多优势。第四章通过对我国实行住房抵押 贷款证券化的必要性和可行性分析，认为目前我国尚不具备条件，但住房抵押贷 款证券化是一种趋势。第五章结合我国国情，对我国选择政府主导型住房抵押贷 款证券化的原因做了论述。借鉴国际经验，阐述了我国住房抵押贷款证券化具体 运作方式，并就我国存在的问题，详述了政府在住房抵押贷款证券化市场构建中 的作用。 本文的基本观点是由于市场失灵、住房问题的存在、住房抵押贷款证券化本 身的特殊性和复杂性及我国作为经济转型国家的具体国情，政府主导型的住房抵 押贷款证券化更适合我国。 关键词：住房抵押贷款证券化政府主导型市场主导型 分类号：F830，572 ABSTRACTThe ABSTRACT The real estate industry has developed quickly in recent years．The mortgage loan is increasing greatly．The risk of fund shortage and fluidity is coming．For these the mortgage—backed securitifization，one ofthe financial reformations，to extend the way to circulate the fund，deduce the finance risk is very important． Weather mortgage-backed securitifization is SUCCESS in China，the key is which model we choice．This article is foeus on this． TIlis dissertation consists of five parts．Chapter 1 introduced the concepts of mortgage-backed securitization．Being of the most important financial reformations，analysis the difference between mortgage—backed securitifization and traditional method． Chapter 2 discussed the theoretical foundation of Government-leading model and market leading model．Chapter 3 discussed two different model of mortgage—backed securitifization．Through analysising the advantages and disadvantages oftwo different models，come to the conclusion that the govemment-leading model have more advantages．Chapter 4 analysisethe necessity and feasibility of mortgage-backed securitifization in China．ne conclusion is now mortgage-backed securitifization is not feasible in China．But it is a trend．Chapter 5 discussed the reason we choice the government-leading model．Learn from the international experience and introduce the style of mortgage—backed securitifization working in China．There are many shor