Ukuwohloka kwezoqoqosho - na lo mbono? Kwintlekele yoqoqosho ka-1929-1933, 2008 no-2014. Izizathu sobunzima bezoqoqosho

Ukutyhubela imbali lonke uluntu ehlabathini, anoqoqosho busezingxakini, sikhatshwe ukuncipha kwemveliso, amaxabiso kwabawayo, nokwanda kwezinto ndawonye kwi kwimarike, ekuweni kwindlela yogcino-mali, esibukhali ukunyuka ngqesho, ukutshatyalaliswa uninzi lwamashishini okhoyo shishino kunye norhwebo.

Yintoni na - le ntlekele? Ziintoni iimpawu zayo? Yintoni esongela noqoqosho lwelizwe kwaye thina abemi abaqhelekileyo? Ngoko nokuba uba sezintlungwini kwaye yintoni enokwenziwa? Masizame ukunika iimpendulo ubuncinane omalunga kuninzi le mibuzo.

Kuqala kwinto zonke, cinga ingxaki njengengqiqo jikelele.

Eli gama liguqulelwe ngokusuka kwisiGrike njenge "shift izigqibo", "ingxaki jikelele", "imeko ingcwaba" nayiphi na inkqubo. Ngokubanzi, umbhodamo - an ukungalingani nayiphi na inkqubo, ngelixa lenguqu yayo luphawu entsha.

indima yalo kunye nezigaba

Ngokuba zonke iingxaki zalo ezibuhlungu yenza imisebenzi luncedo. Lifana sisigulo kakhulu okuye kwachaphazela a esiphilayo, ukungaboni ezifihlakeleyo ezingasetyenziswanga, iingxaki nezinto kuchaswa na efike kuqala evela ngaphakathi nayiphi na inkqubo asaphuhlayo, nokuba usapho, uluntu okanye iinxalenye zayo ngamnye.

Ngenxa yokuba iingxaki kukho ukungavisisani kwaye ngaphandle kwazo akunakwenzeka ukuya phambili. Yaye ngamnye kubo inemisebenzi ezintathu ezinkulu:

• ukupheliswa okanye ebonakalayo ukuguquka eziqalelo ndidiniwe inkqubo ziphelelwe;
• uvavanyo amandla kunye nokuphakanyiswa kwempilo kwiindawo zayo;
• msulwa indlela indalo iziqalelo kwinkqubo entsha.

Xa amandla yaso ntlekele iya kwizigaba eziliqela. Le efukamileyo (ifihliwe), apho imiqathango eya ivuthwa, kodwa alikafiki baphume. Ithuba ukuwa, kuphikisana ekuloleni nangoko, ngok Ukonakala elinqatyisiweyo scorecards. Kwaye inyathelo ekunciphiseni kutshintsho kwisigaba ngokwasemphefumlweni lwesilinganiso okwethutyana. Ixesha le ezintathu akufani, isiphumo yeentlekele akunakwenzeka ukuba babale kwangaphambili.

Iimpawu Oonobangela

Iingxaki kuba jikelele nabeengingqi. Jikelele - ezo ezisisiphumo lonke uqoqosho ngokubanzi, wengingqi - inxalenye kuphela kuyo. Yima umba Macro kunye mikrokrizisy. Igama ngexesha elifanayo uthetha ukuba ngokwayo. Kuba lokuqala uphawuleka omkhulu kunye neengxaki ezinzulu. Okwesibini kuchaphazela kuphela udaba olulodwa okanye iqela yayo.

Izizathu ntlekele waqhekeza kunokuba njongo ezivela iimfuno yovandlakanyo zisathe ukuba kuhlaziywe, kwaye luluvo, okubangelwa iimpazamo bezopolitiko ukuzikhethela. Kwakhona, ukuba kwahlulwa ibe ngaphandle kunye nezo ziphuma ngaphakathi. kuqala ezinxulumene ne-iimpawu ezenzekayo zoqoqosho kwezoqoqosho kunye imeko yezopolitiko kweli lizwe, okwesibini - abantu abagula-Wamitha ukuthengisa qhinga, iziphene nongquzulwano entlanganweni imveliso, ukuphathwa kunye nomgaqo-nkqubo yotyalo-mali.

Le ngxaki yemali kunye nezoqoqosho njengoko ngenxa yayo zihlaziywe okanye ukutshatyalaliswa sokugqibela kwinkqubo kwezemali nakwezoqoqosho, uphuculo yayo okanye ukufika zentlekele elandelayo. Out kunokuba ezibukhali kwaye ngamanye amaxesha engalindelekanga or soft and elide. Oku luqinisekiswa kakhulu-nkqubo yolawulo ntlekele. Zonke uyothuka ibe nefuthe amagunya karhulumente, amaziko karhulumente, uluntu kunye nenkcubeko.

Kakuhle eli sobunzima bezoqoqosho

Ingxaki yezoqoqosho - ebukhali, ukonakala maxa wambi elide kuqoqosho kwilizwe okanye amazwe eluntwini. iimpawu zayo - lunyhasho ubudlelwane bezoshishino, ukunyuka kwengqesho, yimali lwamashishini, ukuhla ngokubanzi. Esona siphumo - ukuhla imigangatho yokuphila nentlalontle.

Le ngxaki ye loqoqosho nophuhliso wabonakaliswa hormone kwempahla isihlobo ukuba bafune, utshintsho kwiimeko yokwamkela equity, ubunzima ukudilizwa kunye nezinye nezothuso indalo yezentlalo noqoqosho.

Yenzeka njani le nto?

Uqoqosho onke amazwe kangangexesha elithile ixesha enye ithi ezimbini.

1. Uzinzo xa imveliso kunye nokusetyenziswa (ngokulandelelana - ubonelelo kunye nemfuno) esikalini lulonke. Ngaxeshanye ukukhula koqoqosho endleleni ethe ngqo.
2. Ukungalingani ephazamisa umyinge oqhelekileyo lweenkqubo yoqoqosho ezikhokelela kwintlekele.

Ingxaki yezoqoqosho - a kungalingani jikelele inkqubo yezimali nezoqoqosho. Oko kukhatshwa ilahleko yonxulumano abaqhelekileyo kwi isigaba zemveliso norhwebo, kwaye ekugqibeleni kukhokelela ukungalingani epheleleyo kwinkqubo.

Kwenzeka ntoni kuqoqosho

Kweli qela inzululwazi, umbhodamo kwezoqoqosho - ukungalingani kwaneliswe kwemfuno yeempahla kunye neenkonzo.

Undoqo kwayo iqatshelwe kwimveliso ngaphezu kwezinto kuthelekiswa imfuneko.

zezoqoqosho Modern zikhona njengoko nentlekele imo yoqoqosho apho kuyo ngeke utshintsho bangaphakathi kunye nabangaphandle. Amanqaku it - amandla, ubude nobubanzi.

Ngelo xesha, njengokuba kuthiwe, umbhodamo kwezoqoqosho kunokuba luncedo. Ekugqibeleni, ikhuthaze kuphuhliso loqoqosho, ephethe umsebenzi encedisa ukuqalisa imisebenzi. Phantsi impembelelo yayo, kunciphisa iindleko zemveliso, kwandisa ukhuphiswano, ukudala inkuthazo ukuze kulahlwe iindlela eziphelelwe kwimveliso kunye nokuhlaziywa qho zezobugcisa ezitsha. Ngoko ke, lo crisis - into ebalulekileyo kwinkqubo yoqoqosho self-emarikeni.

Yintoni buchaphazela crisis

Ukususela kwemali, njengoko umthetho, ubunzima ngaphezu kwezinye amashishini ezivelisa iimpahla kunye neendlela ixesha elide. Ingakumbi zokwakha. Industries ezivelisa izinto zokusetyenziswa elifutshane, modem buhlungu kakhulu.

Iindlela zixhomekeke ityala layo. Ukuze ukuphelisa nengxaki kwezentlalo nezoqoqosho, urhulumente kufuneka azidandalazise elubala ngexesha elifanayo le njongo iphambili inguqu kwiimeko eziqhelekileyo kwezoqoqosho, apho kufuneka ukuba ndivuze elowo ityala, ukuhlalutya imeko kwezibonelelo kunye neembono.

Ngoku makhe sijonge ukuba kwenzeka ntoni ekuhlaleni, ngemizekelo ethile. Masikhumbule edume iimvavanyo nzima, lwaqatsela ngexesha lakhe kuqoqosho lwehlabathi.

Makhe siye umva elidlulileyo

Iingxaki ziye zenzeka ukutyhubela imbali yoluntu. Eyokuqala liwubethileyo uqoqosho US ngaxeshanye, Brithane, Jamani neFransi, kwenzeka ngo-1857. Umfutho yophuhliso yayo yaba ekuweni imali eninzi kwaye imilinganiselo kukho ezininzi iinkampani zikaloliwe.

Eminye imizekelo iya kukhonza: le-Great Depression (1929-1933.), Mexico (1994-1995.), Yaye ke crisis Asian (1997), kananjalo, akukho mathandabuzo, i Russian 1998 crisis nyaka.

Kubunzima ka-1929-1933.

Ixesha lobunzima womhlaba zoqoqosho 1929-1933 kwindalo - elibujikele shoka hormone. Ukuze oku Kongezelelwa, kwaye utshintsho iyonke kuqoqosho, ekuqaleni ehambelana sithuba imfazwe. Oko kukhokelele ekwandeni ngokukhawuleza kwemveliso, ukuqinisa bodwa, ekhokelela ekungakwazini kwakhona emva kokuphela ubudlelwane yezoqoqosho ebingaphambi imfazwe.

Iimpawu sobunzima bezoqoqosho kwaloo minyaka yabonakala ukuquka onke amazwe zongxowankulu ngaphandle kokukhetha, kwaye yonke imimandla yoqoqosho yehlabathi. It ukhetheke kubunzulu engaqhelekanga kunye nexesha.

Makhe sijonge oonobangela zentlekele yoqoqosho kwaloo minyaka zolwimi ngokunzulu.

Yintoni kwenzekayo ehlabathini

Kwithuba uzinzo lwe imi--20 waba ukukhula uphawu lokuwandisa lonke kunye yoxinaniso kwenkunzi kunye nemveliso, nto leyo eyakhokelela ekubeni ukwanda ngamandla corporate. Kulo mzekelo, ulawulo urhulumente buthathaka kakhulu. Amacandelo yemveli kwezoqoqosho (imikhumbi, imigodi yamalahle, ishishini ukukhanya) amazinga okukhula luye lwehla, ukwanda ngqesho. umngcipheko wokuba-zavela kwezolimo.

Ixesha lobunzima kwezoqoqosho ka-1929 kuye kwakhokelela ekubeni kubekho ukubhidana phakathi kwamandla eliphantsi ukuthengwa yabemi obunamandla emveliso. Ubuninzi eyinkunzi lityale imali eninzi intelekelelo ukuba xenga eyandisiweyo imeko yezoqoqosho.

I-United States njengoko swihlawulekisi ngamazwe eziphambili baya ukuxhomekeka zemali uninzi amazwe aseYurophu. Ukunqongophala ngemali yakhe abaninzi bafune ukufikelela simahla kwempahla eveliswe kwimarike US, kodwa kwavela ukhuphiswano okwandileyo kwaye ngokuvela imisebenzi amasiko ukuba ematyaleni lwamazwe ezivela eUnited States.

Chronicle of the Great Depression

Njengoko kwintlekele yoqoqosho 1929-1933.? Kwathi kwi "ngoLwesine black" (24 Oktobha 1929), xa lonaniselwano Uvukile i panic nanto eUnited States. Ixabiso Izabelo New York Stock Exchange wawa ngesiqingatha (okanye ngaphezulu). Lo ngomnye wabonakala kuqala lentlekele asemva ukujula ibonwe.

Xa kuthelekiswa nezinga pre-nengxaki ka-1929 US icandelo umthamo yemveliso yawa 80,7% ngo-1930 Le ntlekele kwakhokelela ekuweni elibukhali kwamaxabiso, ingakumbi iimveliso zezolimo. Ubukhulu ibonwe imilinganiselo kunye nomonakalo sele amashishini zorhwebo, zoshishino nezemali. Le ntlekele hit ngamandla buhlungu, ukongeza, kunye egcina imali.

Yintoni ekufuneka yenziwe?

awodwa Anglo-French wabona isisombululo sengxaki yokuba izibonelelo iintlawulo Germany. Ke umendo lwahlulekile - zemali capacity eJamani wayengekho okhuphisana ngokwaneleyo ukuvala izakhono zalo kurhwebo lwamazwe ngamazwe. Ubunkokeli lizwe yoniwa le izibonelelo koko kufunwa zakhe zonke iimali-mboleko entsha kwaye Iyandikhathaza ngakumbi kozinzo yenkqubo yemali ngamazwe.

Ixesha lobunzima kwezoqoqosho ka-1929-1933 yaziwa njengenye yezinto ezimbi kuqoqosho lwehlabathi. Kwathatha iminyaka embalwa ukuzinzisa inkqubo yehlabathi. amazwe amaninzi aye wazibonela ixesha elide iziphumo yesiphithiphithi yoqoqosho lwehlabathi, wehla waya kwimbali.

Crisis ngo 2008

Ngoku cinga imithetho jikelele kunye iimpawu iikhonsepthi bafunda kumzekelo zeziganeko ezaziwayo-kakuhle ezifana nengxaki kwezoqoqosho ka-2008. isimilo sakhe uye iimpawu ezintathu ezibalulekileyo.

1. Le ntlekele jikelele iye ngayo phantse onke amazwe kunye nemimandla. Hi ndlela leyi, ndzi kuba negalelo elikhulu kwiindawo ngempumelelo yaye ndawonye ungekachatshazelwa isidanga engaphantsi. ERashiya, njengoko inkoliso iingxaki waphawula kwiindawo kunye neendawo ukukhula kwezoqoqosho, kwiingingqi kan- iinguqu zanikwa waziva engephi.
2. Ixesha lobunzima kwezoqoqosho ka-2008 waba uhlobo lwesakhiwo, ebandakanya nasekuhlaziyeni kwisiseko uzobe olwenziwe yoqoqosho yehlabathi.
3. Le ntlekele umlinganiswa ezintsha, ngenxa apho kusekwa kuze kusetyenziswe ezintsha zemali njengoko izixhobo ezitsha kwimarike ngokubanzi. Bona ngokupheleleyo zatshintsha imarike yorhwebo. Ixabiso ioli, kwakuxhomekeke ngokuyintloko umlinganiselo yonikezelo kunye nemfuneko, kwaye ke ngoko ilawulwa ngokungaphelelanga bemveliso, ngoku kwasekwa kwimisebenzi kwiimalike zemali wabathengi ukurhweba kwizixhobo zemali ezinxulumene nonikezelo lwayo.

Uluntu jikelele kwafuneka ukwamkela isibakala ukubomeleza ngumba virtual ekubunjweni lweentsingiselo ibalulekileyo. Kwangaxeshanye, lo elite kwezopolitiko nezoqoqosho sele uphulukene nolawulo phezu intshukumo yezixhobo zemali. Ngoko ke, le ntlekele ubizwa ngokuba "izithuthi uqhushululu nxamnye kwabayili zabo."

Njengokuba kwakunjalo

NgoSeptemba 2008, kwimeko ngesihelegu kuzo zonke ii-ofisi emhlabeni - iyawa NYSE. Kwihlabathi ukuncipha imfuyo. Urhulumente Russian nje ivalwe exchange. Ngo-Oktobha waloo nyaka kuba sicacisa ukuba ingxaki ehlabathini ayinakuphepheka.

Ekuchithweni yeebhanki ezinkulu ehlabathini iba udaka. Songa iinkqubo mortgage, nokunyuka kwenzala kwimali-mboleko. Steelmakers bayeke ngokufutha yamaziko, iifektri, ngumsebenzi abasebenzi. Ngenxa yokunqongophala kwemali 'ubude' yaye credit wayeka ukwakha, izixhobo ezitsha zithengwa, kwicandelo lobunjineli yeyela wobuthongo. Ukuwa kwemfuno sisikrazule yanciphisa ixabiso lwesinyithi neoli.

Uqoqosho isangqa eqhubekayo: akukho mali - akukho pay - akukho msebenzi - akukho imveliso - Akukho iimveliso. Umjikelo ivaliwe. Kukho ikho into nentlekele amatyala. Ngamafutshane, abathengi awuna mali, impahla akubangelwa ngenxa yokunqongophala ebango.

Ixesha lobunzima kwezoqoqosho 2014

Qubeka kwiziganeko yangoku. Ngaphandle kwamathandabuzo, sonke baxhalabile ngale meko kweli lizwe malunga nokuqhubekayo. Ukunyuka kwamaxabiso, uphelelo engange, ukudideka kwi kwezopolitiko - konke oku kwenza ilungelo lokuba athi siqinisekile ukuba linengxaki ngokwenene.

ERashiya, umbhodamo kwezoqoqosho 2014 - ukwehla kwezoqoqosho lizwe ngenxa ukwehla okukhulu kwamaxabiso ombane kunye nokubekwa kwezohlwayo kwezoqoqosho eRashiya evela kumazwe aseNtshona. Ebonakalisa ngokwayo xa kukho ukwehla kule engange Russian, ukwanda kwamaxabiso kunye nokuhla ekukhuleni yeengeniso yokwenene baseRashiya.

Ziziphi iimeko zayo?

Ukususela ekuqaleni 2000 baseRashiya kwakukho uphuhliso ephambili kwicandelo yorhwebo. ukukhula Active amaxabiso ehlabathini ukuze oyile ngexesha elifanayo landa ukuxhomekeka kuqoqosho ukusuka amandla evelisa amashishini, kunye nomsebenzi kwi imeko lwangaphandle.

Idrophu kwamaxabiso oli ngenxa yokuncipha kwenani imfuno, ukukhula imveliso US wayo, ukungavunyelwa kwamanye amazwe ukunciphisa ubonelelo. Oku kwakhokelela ekubeni kubekho ukuhla ngongeniselo yokuthengisa lwamandla, ezenza malunga nesi-70% yetotali ezithunyelwa zasekhaya. Iziphumo ezingentle ekuweni kwamaxabiso waziva kunye namanye amazwe ekuthumeleni - eNorway, Kazakhstan, Nigeria, Venezuela.

Njani ukuba kwaqala

Zintoni izinto ezibangela zentlekele yoqoqosho ngo-2014? Yintoni kanye kanye le adubule? Ngenxa nokudliwa eCrimea eRashiya, amazwe EU ingathatyathwa nokudliwa, nxamnye neRashiya izohlwayo zabekwa, ochazwa ukungavunyelwa wentsebenziswano kunye amashishini kushishino wokhuselo, iibhanki kunye neenkampani mveliso. ECrimea wabhengezwa kwafa kwezoqoqosho. Ngesicelo uMongameli Russia wabeka ukwayo nxamnye nathi - unobangela malunga ikota iingxaki zelizwe zoqoqosho.

Ngenxa yoko, ngelo xesha linye lizwe lifumana iingxaki zoqoqosho nezopolitiko.

Kwisiqingatha sokuqala sonyaka yokunqaphela yaqhubeka, ukusebenza kwezoqoqosho ngo-2014 yawa ngezantsi ukunyuka eqikelelwayo endaweni kuhlelwa-5% ufikelele kwinqanaba 11.4%, GDP yawa nge 0.5% ngonyaka, ekube ngo-2008 kuwa engange Disemba 15 ingxelo, ngaloo mini ngokuba "abamnyama ngoMvulo." ofisi ezithile exchange baye bagqiba ukuba amazinga ukubonisa exchange elinemivo ezintlanu xa kuthe amanani ukukhula ngakumbi kubo.

NgoDisemba 16 kwaze drop imandla lwemali kazwelonke --euro wema engange 100.74, i-dollar -. 80.1 engange. Ngoko ke kukho abathile kuqinisa. Yaphela unyaka ngomlinganiselo 68,37 no 56,24 ngokulandelelanayo.

zeemali Ukuncipha imali eninzi, i a th index yawa endaweni esekugqibeleni, urhulumente iwise baseRashiya zinhanha ngenxa ukwehla-asethi. Russia yeentengo zemboleko makafakwe Izwe phandle ukuba .o.

Kwenzeka ntoni ngoku?

Ixesha lobunzima kwezoqoqosho ka-2014 luya lusiba nochatha. Ngo-2015, iingxaki kweli lizwe ziyafana. Ukuqhubeka Ukungazinzi kunye buthathaka engange. Intsilelo mali kulindeleke ukuba enokuxelwa ngakumbi, oku kwenzeka ngokufanayo ekuweni GDP.

Ngenxa izohlwayo, iinkampani Russian baphulukana amathuba abo mboleko kunye saqala ukucela uncedo oluvela kurhulumente. Kodwa mali zizonke, "i-Central Bank", yaye fund Reserve ngaphantsi kwe yetyala lonke lwangaphandle.

Ukwanda amaxabiso kweemoto elektroniki, ukuthenga inxaxheba yoluntu yokothuka. imfuno kakhulu ekupheleni kuka-2014 woyisa ezivenkileni ifenitshala, izixhobo zombane ekhaya, izacholo. Abantu bagaleleka nokutyala imali eyintsalela ngethemba zokonga kwabo ukuphelwa lixabiso.

Ngelo xesha nye wawisa nemfuno izinto nesetyenziswa imihla yonke, iimpahla kunye nezihlangu. Ngenxa ukunyuka kwamaxabiso, baseRashiya yaqala ukonga kwi yokuthenga iimpahla zendlu ezifunekayo okanye ukuthenga engambi. abenzi abaninzi amazwe iimpahla nezihlangu ze brand abaziwayo kuye kwanyanzeleka ukuba ivalwe phantsi imisebenzi yayo eRashiya ngenxa yokuswela ebango. Inxalenye ivenkile ivaliwe. Ngoko ke, lo lobunzima kweli lizwe kunye ngokungangqalanga ezithwaxwa kubatyali-mali bamanye amazwe.

Ngokuphawulekayo zandisa ixabiso lokutya. Phambi kokuqala kwekhefu ngo-2015, iphenjelelwa amarhe i bezilungiselela ezayo nentengo, thatha engacimekiyo off ezishelfini ityuwa neswekile.

Ibanki ezininzi ziye zamisa kunikezelo kwabathengi kunye mortgage mboleko, ingakumbi ixesha elide, ngenxa imeko awukacaci zemali.

nengxaki kwezentlalo nezoqoqosho ibetheke kwintlalo-ntle yabantu kwesi sihelegu. Ukwehla ingeniso yokwenene, ukwanda ngqesho. Ukuba nzima ngakumbi ebantwini abanezigulo ezinzulu efuna iziyobisi ezibizayo okanye unyango amazwe.

Ngelo xesha linye iimpahla Russian luthe lwavuleleka kakhulu abakhenkethi bamanye amazwe. Baqala ke ukuba bathenge up abahlali Belarus, Kazakhstan, kwiBaltic ithi, Finland kunye neTshayina.

Ingaba kukho naziphi na iindaba ezilungileyo?

Kulo nyaka uphelileyo, urhulumente Russian wazama ukuphembelela kwintlekele noqoqosho lweli lizwe. "Central Bank" lenyuka iqhosha izinga layo lenzala izihlandlo ezintandathu kulo nyaka, lwenziwa ngoncedo utshintshiselwano lwangaphandle ukuzinzisa indawo engange. Vladimir Putin iye kucetyiswa abameli zoshishino inkulu ukunceda kurhulumente yokuthengisa surplus lwemali kurhwebo Russian zasekhaya.

"CBA" Wambongoza iimeko nezivumelwano zokubambisa lwemali, i Duma State uceba amanyathelo ukunceda kubaboleki ezinamagingxigingxi ngenxa yemali rate.

Kodwa noqikelelo zezoqoqosho '-2015 musa ayahlukanga nethemba. Le ntlekele iyaqhubeka ngumsindo, ukunciphisa ngesantya de uyabonakala. Sonke kusafuneka ixesha elide ukujongana nobunzima. Kuhleli ukuthatha amanyathelo afanelekileyo ukuze ugcine, ukunciphisa iindleko kwaye uzame zonke iindleko ukulondoloza imisebenzi ekhoyo kunye neminye imithombo yengeniso.