Study On The Breakdown Of Information In Asian Financial Market And Its Influence

The asymmetric information theory introduced to the financial market by Stieglitz and Weiss, and has being a foundated theory gradually. However, after World-war II, along with science technique especially the computer technical development, the information-based level of international financial market raises continuously. The traditional finance is replaced gradually by the information finance, in financial market, the information is being breakdown and financial risk is more serious, the financial crisis breaks out repeatedly.Traditional financial crisis theory has been unable to explain the reason of the Asian financial crisis. So people began to reconsider the theory of the traditional finance crisis. Now the new phenomenon requests the economists to make the essential development to the traditional theory, to entrust the financial crisis theory with new connotation under the new current economic condition, to instruct financial activity with the science theory.Therefore the modern economist has done the thorough research to the financial crisis theory in view of the financial crisis in Asia, has developed the theory, mainly manifests for the third generation finance crisis theory—moral hazard theory and asymmetric information theory. Now, the world development tendency indicated that, the financial industry is a national core and the economical blood vessels, along with advance in technology, globalization and integration of international finance has a big development, but in this process, the disparity of economy level of development and the financial industry level of development in each country, specially the developed countries and the developing nation, causes some national the financial industry to be in the inferiority.Informationization has benefited them, but their financial industry faces...