我國資本外逃的影響因素研究
本文關(guān)鍵詞:我國資本外逃的影響因素研究 出處:《華中科技大學(xué)》2016年碩士論文 論文類型:學(xué)位論文
更多相關(guān)文章: 資本外逃 規(guī)模測算 GLS檢驗(yàn)
【摘要】:資本外逃的規(guī)模在一定程度上可以衡量一個(gè)國家的經(jīng)濟(jì)增長狀況、金融體系的完善和經(jīng)濟(jì)環(huán)境的穩(wěn)定情況,它不僅反映了資本與國家的關(guān)系,還反映著資本與經(jīng)濟(jì)、金融制度之間的關(guān)系。隨著金融全球化的發(fā)展,國際金融投資工具的種類不斷豐富,資本在各國之間的流動(dòng)趨勢不斷增強(qiáng),資本外逃對基本相對稀缺的發(fā)展中國家經(jīng)濟(jì)的發(fā)展產(chǎn)生了更大的威脅。根據(jù)卡丁頓(1986)、米基卡爾森(1991)、帕斯托(1990)等人對資本外逃影響因素的選取,同時(shí)考慮獲得數(shù)據(jù)的可行性,本文經(jīng)過篩選采用:經(jīng)濟(jì)增長率、利差水平、匯率高估情況、財(cái)政赤字情況、通貨膨脹率、外債狀況、外匯儲(chǔ)備狀況、金融深化程度、貿(mào)易規(guī)模、外商直接投資、稅收差別待遇、政治金融風(fēng)險(xiǎn)這些因素等變量作為可能影響資本外逃規(guī)模的因素進(jìn)行計(jì)量實(shí)證分析,找出其中對我國資本外逃影響最主要的因素以及之間的相關(guān)性;貧w結(jié)果顯示,經(jīng)濟(jì)增長率、金融深化與資本外逃規(guī)模成顯著的負(fù)相關(guān)關(guān)系;通貨膨脹、外匯高估水平和資本外逃規(guī)模為顯著的正相關(guān)關(guān)系;利差水平、財(cái)政赤字在全要素模型中與資本外逃是顯著的正相關(guān)關(guān)系;外債狀況和資本外逃之間是負(fù)相關(guān)關(guān)系,但不顯著;外匯儲(chǔ)備、政治金融風(fēng)險(xiǎn)和資本外逃在模型3中是顯著的負(fù)相關(guān)關(guān)系;差別稅收待遇在模型1和模型3中與資本外逃是顯著的正相關(guān)關(guān)系。基于此,本文從經(jīng)濟(jì)體制和政策環(huán)境兩方面提出了相關(guān)政策建議。
[Abstract]:Economic growth in the scale of capital flight can be a measure of a country in a certain extent, the stability of the financial system and economic environment, it not only reflects the relation between the capital and the country, but also reflects the relationship between capital and economic and financial system between. With the development of financial globalization, international financial investment tool enrich the flow trends in the international capital increase, capital flight in the economic development of developing countries of relatively scarce produced a greater threat. According to Cardington (1986), Mickey Carlson (1991), Pasto (1990), the selection factors of capital flight, considering the feasibility of obtaining data in this paper, after screening the rate of economic growth, interest rate level, overvalued exchange rate, fiscal deficit, inflation rate, debt, foreign exchange reserves, the financial deepening process Of trade, foreign direct investment, tax discrimination, political and financial risk factors of these variables can be measured as an empirical analysis of the influence factors of the scale of capital flight, to find out the correlation between China's capital flight on the main influencing factors as well as between. The regression results show that the rate of economic growth, financial deepening and the scale of capital flight a significant negative correlation between the level of inflation, foreign exchange; overvalued and capital flight scale is a significant positive correlation; spreads, fiscal deficits in all the factors in the model with capital flight is a significant positive correlation between the status of capital flight; and external debt are negatively correlated, but not significantly; foreign exchange reserves, political and financial risk and capital flight in model 3 is a significant negative correlation; the differential tax treatment in model 1 and model 3 and capital flight is a significant positive correlation. Based on this, this paper puts forward relevant policy suggestions from two aspects of the economic system and the policy environment.
【學(xué)位授予單位】:華中科技大學(xué)
【學(xué)位級別】:碩士
【學(xué)位授予年份】:2016
【分類號】:F832.6
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