Earticle

초록

영어

Several macroeconomic missteps have been blamed for causing the recent global financial crisis, two of which have received particular attention: the global imbalance and the misguided monetary policy. It is argued here, however, that the primary cause of the financial crisis was the abuse of certain innovative financial techniques and new investment instruments that have been created in recent decades. Among the financial innovations, both collateralized debt obligations (CDOs) and credit default swaps (CDS) enjoyed a symbiotic and toxic relationship prior to the crisis and they were the most directly responsible for causing the recent financial crisis.

목차

Abstract
 1. Introduction
  1.1. The true causes of the recent financial crisis
 2. The role of CDOs and CDS in the recent financial crisis
 3. Determinants of the CDS premium (spread) for an emerging capital market: the Korean case
  3.1 . Literature survey
  3.2. Data and methodology
  3.3. Results and analyses
 4. Concluding remarks
 References
 Figure
 Table

키워드

저자

• Yoon S. Park [ Professor of International Finance, Department of International Business, George Washington University ]
• Hanjoon Kim [ Assistant Professor of Finance, Department of Business Administration, Hoseo University, College of Social Science ] Corresponding Author

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  한국재무학회 학술대회

• 간기

  부정기

• 수록기간

  2006~2024

• 십진분류

  KDC 325 DDC 330