Risk and Financial Ranking

Author: Cao Rongxiang
Publisher:
Publish Date: 2004-06-01
Features: In the second half of the 20th century, financial system issues became a major and entirely new challenge for the economic community. Before that, although the economic community had paid attention to financial crises and the role of finance in the economy, the importance of the real economy had always surpassed that of the financial economy. After the collapse of the Bretton Woods system, financial issues were brought to the center of international economics. Financial liberalization, globalization, and the continuous outbreak of financial crises had placed the world's finance in strong, sustained turbulence, with its negative impact on the real economy capable of destroying any complete economic system. How to improve the domestic financial system to resist financial contagion, and how to establish international financial system arrangements to reduce the degree and scope of crises, attracted close attention from the theoretical community worldwide.