【摘要】：債券市場為金融系統(tǒng)提供巨大的流動性,為各類機構提供籌集資金的便利渠道,為各類投資者提供穩(wěn)定收益的投資工具,債券交易價格所形成的收益率曲線是金融體系中各種金融產品收益水平的基準。交易所債券市場是中國債券市場的重要組成部分,只有認真研究其發(fā)展模式,才能得知其近些年來發(fā)展不力的原因,進而探索適合其健康發(fā)展的道路。本文試圖在前人研究的基礎上,采取理論與實證相結合的研究方法和循序漸進的研究思路,結合理論探索和實踐經(jīng)驗對中國交易所債券市場發(fā)展模式這一課題進行研究。第一章討論中國交易所債券市場發(fā)展模式的歷史變遷和現(xiàn)狀,第二章分析當前模式存在問題,第三章研究國外成熟市場的發(fā)展模式,第四章分析中國交易所債券市場的相對優(yōu)勢,第五章探討中國交易所債券市場未來理想的發(fā)展模式。本文認為,我國交易所債券市場當前所出現(xiàn)問題的根源是缺乏清晰的市場定位以及衍生品發(fā)展滯后,必須明確其市場定位并發(fā)揮其相對優(yōu)勢,積極進行市場機制改革、市場化定價和產品創(chuàng)新,以求達到理想的發(fā)展模式。
[Abstract]:The bond market provides tremendous liquidity to the financial system, a convenient channel for raising funds for various institutions, and an investment vehicle for stable returns for various investors. The yield curve formed by the bond price is the benchmark of the income level of various financial products in the financial system. The exchange bond market is an important part of China's bond market. Only by studying its development mode seriously can we know the reasons for its weak development in recent years and then explore the road suitable for its healthy development. On the basis of previous studies, this paper attempts to study the development model of China's stock exchange bond market with the combination of theoretical and empirical research methods and progressive research ideas, combined with theoretical exploration and practical experience. The first chapter discusses the historical changes and the present situation of the development mode of the bond market of China's exchange, the second chapter analyzes the existing problems of the current model, and the third chapter studies the development model of the foreign mature market. The fourth chapter analyzes the relative advantages of China's exchange bond market, and the fifth chapter discusses the future ideal development model of China's exchange bond market. This paper holds that the root of the current problems in China's exchange bond market is the lack of clear market positioning and the lagging development of derivatives. It is necessary to make clear its market position and give play to its relative advantages and actively carry out the market mechanism reform. Market pricing and product innovation in order to achieve the ideal development model.
【學位授予單位】：復旦大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F832.51

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本文編號：2211462