V2EX hot money

Hot Money

释义 Definition

“热钱;游资”:指为了追求短期高回报而在国家/地区之间快速流动的资金,常因利率差、汇率预期或资产价格波动而进出市场,可能加大金融市场与汇率的波动风险。(也可泛指“短期投机性资金”。)

发音 Pronunciation (IPA)

/ht mni/

例句 Examples

Hot money flowed into the stock market after interest rates rose.
加息后,热钱涌入了股市。

When investors expect a currency to appreciate, hot money can pour in quickly, pushing up asset prices and making the economy more vulnerable to sudden outflows.
当投资者预期某种货币将升值时,热钱可能迅速涌入,推高资产价格,并使经济更容易受到资金突然外流的冲击。

词源 Etymology

“hot”在这里有“炙手可热、来得快去得快”的含义,强调资金流动性强、追逐短期机会;“money”指资本或资金。“hot money”因此用来概括“短期投机性跨境资金”的特征,而非指“温度高”的钱。

相关词 Related Words

文学与著作 Literary Works

  • John Maynard Keynes, The General Theory of Employment, Interest and Money(讨论资本流动与金融因素的语境中常见相关表述与概念)
  • Hyman P. Minsky, Stabilizing an Unstable Economy(涉及投机性融资与金融不稳定,常与“hot money/短期资金”现象并读)
  • Maurice Obstfeld & Kenneth Rogoff, Foundations of International Macroeconomics(国际资本流动、汇率与危机机制中常出现“hot money”这一术语)
  • Paul Krugman, The Return of Depression Economics and the Crisis of 2008(谈及资本快速流入流出与金融危机时常使用“hot money”概念)
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