长期风险与金融新秩序课件.pptVIP

长期风险与金融新秩序 Financial ModernizationFundamental role of financial institutionsManage risksMaintain incentivesEffective financial institutions are found in all successful economiesInstitutions must continually be adapted to take account of changing nature of risks, new technology China’s Spectacular Modernization Since 1990Established stock marketIssued shares to publicEstablished futures marketsCreated Insurance industryPersonal credit/Mortgage SpeculationHuman impulse towards gambling, must be directed towards constructive endsCapitalism is a set of rules that redirects the human gambling urge