發(fā)布時(shí)間：2018-03-14 10:56

  本文選題：短期資本流動　切入點(diǎn)：經(jīng)濟(jì)沖擊　出處：《天津財(cái)經(jīng)大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

【摘要】：隨著經(jīng)濟(jì)全球化和資本流動自由化的發(fā)展,短期資本在全球市場上尤其是在新興經(jīng)濟(jì)體市場上大規(guī)模流動,從1994年墨西哥金融危機(jī)到1997年東南亞金融危機(jī),從1998年俄羅斯金融危機(jī)到2000年阿根廷金融危機(jī),無一不伴隨著熱錢在全球范圍的頻繁流動。每一次金融危機(jī)無不伴隨國際短期資本的頻繁流動,國際短期資本流動的原因是什么?我們應(yīng)該如何應(yīng)對短期資本流動的沖擊?我國經(jīng)濟(jì)又能在多大程度上承受短期資本流動的負(fù)面影響?這些部是值得我們關(guān)注的問題。本文的研究既具有理論意義又具有現(xiàn)實(shí)意義。通過探究我國短期資本流動的影響因素,更有針對性地采取監(jiān)管或引導(dǎo)措施,合理導(dǎo)向國際短期資本,以便減少其對我國經(jīng)濟(jì)和金融環(huán)境的沖擊。本文主要研究影響短期資本流動原因,并分析短期資本流動對我國宏觀經(jīng)濟(jì)、資本市場及商業(yè)銀行的不利影響,進(jìn)而提出相關(guān)建議。本文研究發(fā)現(xiàn)影響短期資本流動的因素主要有套利因素、套匯因素、套價(jià)因素、套稅因素,其中套利、套匯是國際短期資本流動的主要原因而且中美利差、人民幣升值預(yù)期、資產(chǎn)溢價(jià)、中美稅差在短期內(nèi)變化對國際短期資本流動影響較大,充分表現(xiàn)出短期資本的逐利性。
[Abstract]:With the development of economic globalization and capital flow liberalization, short-term capital flows on a large scale in global markets, especially in emerging economies, from the Mexican financial crisis in 1994 to the financial crisis in Southeast Asia in 1997. From the Russian financial crisis in 1998 to the Argentine financial crisis in 2000, all of them were accompanied by the frequent flow of hot money around the world. Every financial crisis was accompanied by the frequent flow of international short-term capital. What are the reasons for short-term international capital flows? How should we cope with the impact of short-term capital flows? To what extent can our economy bear the negative impact of short-term capital flows? These departments are worthy of our attention. The research in this paper is of both theoretical and practical significance. By exploring the influencing factors of short-term capital flows in China, we should take more targeted supervision or guidance measures. In order to reduce its impact on China's economic and financial environment, this paper mainly studies the reasons that affect short-term capital flows, and analyzes the impact of short-term capital flows on China's macro economy. The paper finds that the factors influencing short-term capital flow are arbitrage factor, arbitrage factor, arbitrage factor, arbitrage factor, arbitrage factor, etc. Arbitrage is the main reason of international short-term capital flow and the interest rate difference between China and the United States. The expectation of RMB appreciation asset premium and tax difference between China and the United States in the short term have a great impact on the international short-term capital flow.
【學(xué)位授予單位】：天津財(cái)經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F832.6

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本文編號：1610903