本文選題：資本賬戶開放 + 跨境資本流動(dòng)　； 參考：《湖南大學(xué)》2014年碩士論文

【摘要】：資本賬戶開放一直是經(jīng)濟(jì)研究中的熱門話題，2008年金融危機(jī)之后，影響全球資本流動(dòng)的重要事件不斷出現(xiàn)，歐債危機(jī)、美聯(lián)儲(chǔ)第三輪和第四輪量化寬松、美國(guó)財(cái)政懸崖、日本的持續(xù)衰退以及中國(guó)的結(jié)構(gòu)轉(zhuǎn)型都將增加全球資本流動(dòng)的不確定性，這也凸顯出對(duì)資本賬戶開放后，關(guān)于跨境資本流動(dòng)特點(diǎn)及其影響研究的重要性。中國(guó)作為最大的發(fā)展中國(guó)家和發(fā)展速度最快的國(guó)家，其資本賬戶開放不僅關(guān)系人民幣國(guó)際化，更與中國(guó)金融改革與宏觀穩(wěn)定緊密聯(lián)系。 在此背景下，本文從歷史角度出發(fā)，運(yùn)用比較分析法，對(duì)跨境資本流動(dòng)變化特點(diǎn)進(jìn)行了深入分析，通過實(shí)證分析，研究了跨境資本流動(dòng)與匯率和資產(chǎn)價(jià)格之間的關(guān)系。本文共分為五章。第一章為緒論，主要介紹了本課題研究的背景和意義；第二章闡述了目前關(guān)于跨境資本流動(dòng)的相關(guān)理論；第三章論述了資本賬戶開放的測(cè)度和我國(guó)資本賬戶開放規(guī)模，根據(jù)開放度劃分資本賬戶開放階段，為后文分析作鋪墊。同時(shí)，運(yùn)用對(duì)比方法，對(duì)中國(guó)、美國(guó)和日本三國(guó)的跨境資本流動(dòng)形式和流動(dòng)期限進(jìn)行結(jié)構(gòu)分析，總結(jié)三個(gè)國(guó)家資本流動(dòng)的結(jié)構(gòu)特點(diǎn)，并對(duì)其結(jié)構(gòu)特征進(jìn)行了波動(dòng)性分析；第四章為跨境資本流動(dòng)影響的實(shí)證分析。采用SVAR模型，對(duì)跨境資本流動(dòng)、資本市場(chǎng)和匯率市場(chǎng)三者之間的相互影響進(jìn)行分析。鑒于中國(guó)和日本開放的實(shí)際情況類似，以日本的實(shí)證結(jié)果作為資本賬戶完全開放的參考，，為中國(guó)進(jìn)一步資本流動(dòng)管理提供借鑒；最后部分是政策建議與未來跨境資本流動(dòng)的展望。
[Abstract]:The opening of the capital account has always been a hot topic in economic research. After the 2008 financial crisis, important events affecting global capital flows continued to emerge, the European debt crisis, the third and fourth rounds of quantitative easing by the Federal Reserve, the US fiscal cliff, The continuing recession in Japan and the structural transformation in China will increase the uncertainty of global capital flows, which also highlights the importance of studying the characteristics of cross-border capital flows and their impact after the opening of the capital account. As the largest developing country and the fastest developing country, China's capital account opening is not only related to the internationalization of RMB, but also closely related to China's financial reform and macro stability. In this context, this paper, from the historical point of view, uses comparative analysis to analyze the characteristics of cross-border capital flows. Through empirical analysis, this paper studies the relationship between cross-border capital flows and exchange rate and asset prices. This paper is divided into five chapters. The first chapter is the introduction, which mainly introduces the background and significance of this research; the second chapter describes the current related theories on cross-border capital flows; the third chapter discusses the measure of capital account opening and the scale of capital account opening in China. According to the degree of openness, the capital account is divided into open stages, which pave the way for the following analysis. At the same time, by using the comparative method, the paper analyzes the structure of the cross-border capital flow in China, the United States and Japan, summarizes the structural characteristics of the capital flows in the three countries, and analyzes the structural characteristics of the three countries. The fourth chapter is the empirical analysis of the impact of cross-border capital flows. SVAR model is used to analyze the interaction among cross-border capital flow, capital market and exchange rate market. In view of the fact that the opening of China and Japan is similar, the empirical results of Japan are taken as the reference for the full opening of the capital account, which provides a reference for the further management of capital flows in China. The last part is the policy recommendations and the prospect of cross-border capital flows in the future.
【學(xué)位授予單位】：湖南大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F832.6

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本文編號(hào)：1914622