| Summary: | 碩士 === 國立中山大學 === 中山學術研究所 === 93 === Economy is not always in perfect equilibrium when it runs in capital market system. Sometimes crisis attacks the development of economy. Economy crisis is a sign which will appear in capital imbalance of economy. Inside economy, capital distribution in three composers--consumption, investment, and government is the key to analyze economy crisis. Between economy, war, global-industrialization, and capinvesting are triggers to worldwide economy crises. The transaction costs of capital market were sharply negative-accumulated and the transaction efficiency was zero and under during the process of economy crisis. Take Asian financial turmoil in 1997 for example, currency distress and banking system disruption were the signs of crisis-hit economy resulting in consumption and investment contraction. And there were adverse real effects on aggregate output and employment in 1998.
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