对于不同的国家、不同的时期以及不同的经济政治环境,多种因素都有可能成为泡沫形成的诱因。同样,在不同的情况下,相同的因素未必都会导致泡沫。我们不打算讨论泡沫形成的根源是否是本币升值和宽松的货币政策,而是希望以日本为例,考察所谓的“诱因”在一定的宏观经济环境下是如 For different countries, different periods and different economic and political environment, a variety of factors may be the incentive for the formation of the bubble. Similarly, the same factors may not necessarily result in a bubble in different situations. We do not intend to discuss whether the underlying causes of the bubble are the appreciation of the local currency and the relaxed monetary policy. Instead, we hope Japan, for example, will examine the so-called “incentives” under certain macroeconomic conditions