中文摘要：

金融的本质属性（自然垄断倾向、弱公共品性质、金融市场的信息不对称）极易导致金融负外部性问题，即金融产品的私人成本低于社会成本，出现风险外溢效应。以前的研究重在微观金融外部性，而此次世界性金融危机中，宏观金融负外部性更值得关注：利益集团的成本外化、弱势美元的风险转嫁、政府创租以及救市的全球性负面社会效应。全球化的金融市场及其国家化的主宰者是宏观金融负外部性产生的制度根源，只有通过适当考虑对方的利益的国际合作、改革国际货币体系，世界各国才可能摆脱被动的“金融负外部性承受者”的身份。

英文摘要：

The natural attributes of finance （natural monopoly tendency, weak nature of public goods, information asymmetry, of financial markets） can easily lead to financial negative externalities. Namely, the private cost of financial products is lower than the social cost, thus the risk spillovers. Previous research focuses on micro-financial externality, while in the latest global financial crisis, macro-financial negative externalities begs much more attention. The interests of different nations cause macro-financial negative externalities. Only by international cooperation and reform of the international monetary system can we get exempt from the financial negative externalities.