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A Study on the Status Identification and Conversion Mechanism of Financial Security in China
Author(s): 
Pages: 12-21
Year: Issue:  4
Journal: Nankai Journal(Philosophy,Literature and Social Science Edition)

Keyword:  Financial SecurityState IndexConversion MechanismMarkov State Transition;
Abstract: Since the 2008 international financial crisis, the financial security problem has become one of the hottest topics in the domestic and international academic circles and the global financial regulatory reform. It is crucial to prevent the outbreak of the financial crisis by establishing financial security status identification system and grasping dynamically the trend of financial security. The principal components analysis method can be adopted to construct China’s overall and sub dimensions of financial safety index at the macro level and thus to identify and measure the financial security status in our country. The Markov state transition method is used to study the mechanism of financial insecurity index conversion and to identify the inflection point of the financial security status. The research findings indicate that China’s financial security index from 2008 to 2010 showed V type fluctuations, China’s financial security has been showing a downward trend since 2011 and it’s at a low level now. The research findings have important policy implications for identifying and preventing the financial risks and promoting the sustainable and healthy development of the financial system in China.
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