安辉

个人信息Personal Information

教授

博士生导师

硕士生导师

性别:女

毕业院校:东北财经大学

学位:博士

所在单位:金融与会计研究所

学科:金融学

办公地点:管理与经济学院大楼 D537

联系方式:0411-84707669

电子邮箱:anhui@dlut.edu.cn

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The study of effectiveness of U.S. financial regulation based on the financial market efficiency

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论文类型:会议论文

发表时间:2011-08-08

收录刊物:EI、Scopus

页面范围:843-846

摘要:In recent years, the worldwide financial markets are developing with a rapid speed, while the financial security and financial efficiency are questioned. This paper classes U.S. financial regulation as two periods: efficiency priority in 1980s and focusing on both safety and efficiency after 1990. With the R/S analysis of stock return index and regress Hurst Index of those two phase, the paper tests the efficiency of market resources allocation by price signal to measure the effectiveness of U.S. financial regulation. Empirical results show that financial efficiency and regulatory effectiveness of the second period is significantly higher than those in the first period. However, financial markets efficiency before sub-prime crisis still needs to be improved and regulation effectiveness also should be strengthened. ? 2011 IEEE.