Synthetical Measurement And Appliment Of The Finacial Fragility In China

Since 1980s, on the impact of finance liberalization and globalization, financial fragility has become a major factor leading to financial crises. With its accelerating financial opening and reform after China's access to WTO, financial shock has strengthening transmission effect, and thus the problem of financial fragility is shining on. In order to maintain the stability of economy and finance, and keep sustainable development of economy, it's necessary to synthetically measure the financial fragility in China objectively and accurately. On the base of existing research and in accordance with China's special characteristics, the paper tries to analysis the fluctuation of financial fragility in China from 1994 to 2003 theoretically and empirically as well as the effect of each sub-system to total indicators, so as to seek the cause of fluctuation and main factors. Also we use the solution of measurement indicators to inspect the relationship between speculative capital movements and fragility empirical, and prospect the apply possibility of the measurement theoretically.Based on the existing references and combined with Chinese actual conditions, we select 17 core indicators, of which historical data are available, to measure the degree of financial fragility in China with the...