Financial Regulatory Pro-cyclical Analysis

This thesis, based on pro‐cyclicality, analyzes the mechanisms which produce andstrengthen the pro‐cyclicality, so to find out the mechanisms of exploring and intensifying thecrisis. Then depending on the choice of Counter‐cyclical policies, researches the trend of changesin financial regulation, and builds macro‐prudential regulatory framework. Finally constructs ourcountry's macro‐prudential regulatory framework, presents and analyzes four possible modes.