Proceedings of the 2018 6th International Education, Economics, Social Science, Arts, Sports and Management Engineering Conference (IEESASM 2018)

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

Authors
Fengrui Zhang
Corresponding Author
Fengrui Zhang
Available Online January 2019.
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/).

Download article (PDF)

Volume Title
Proceedings of the 2018 6th International Education, Economics, Social Science, Arts, Sports and Management Engineering Conference (IEESASM 2018)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
January 2019
ISBN
978-94-6252-657-0
ISSN
2352-5398
DOI
10.2991/ieesasm-18.2019.101How to use a DOI?
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/).

Cite this article

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  -