论我国资本项目外汇政策与资本市场发展关系.pdf

论我国资本项目外汇政策与资本市场发展的关系 摘 要 过去很多学者的研究已经论证了资本项目的开放是资本市场发展的 必然。我国目前正逐步开放我国的资本市场。自2001 年开始，我国陆续 制定并出台了若干资本项目开放相关的外汇政策。基于过去学者的研究 和成果，通过对自 2001 年开始出台的资本项目外汇政策对我国资本市场 开放与发展影响的观察，对我国资本市场在这些政策下的经济表现的观 察，通过一系列数据与图表，试图简析我国资本项目外汇政策与资本市 场发展的关系。同时，借鉴以前学者的研究成果，简单分析了资本项目 开放与其他货币政策、财政政策等的关系。基于上述观察和分析，对我 国今后的资本项目开放和资本市场发展提出建议。建议可以进一步加快 和扩大资本项目开放的规模，进一步梳理、完善资本项目项下的外汇政 策，提高其法律效力和有效性；同时，应与宏观经济政策、货币政策和 财政政策等配套发挥协调作用，以确保资本市场开放与发展的成功，进 而更加促进经济的健康发展。 关键字： 资本项目外汇政策，资本市场发展，资本市场开放，资本账户 开放，关系 STUDY ON THE RELATIONSHIP BETWEEN THE FOREIGN CURRENCY POLICIES UNDER CAPITAL ACCOUNTS AND THE DEVELOPMET OF THE CAPITAL MARKET IN CHINA ABSTRACT Based on a large quantity of previous study of the researchers, it is commonly recognized that the liberalization of capital accounts is an inevitable process of the capital market development. In China, the capital market is gradually opening up. Since 2001, many foreign currency policies under capital accounts were promulgated. Therefore, the effects of these policies on the capital market open-up and the performance of the capital market under these policies were observed through figures and graphs. Through the observation, it tried to interpret the relationship between the foreign currency policies under capital accounts and the open-up and development of the capital market. It also referred to the study results of the previous researchers on the relationship between liberalization of capital accounts and other policies such as macro economic policies, monetary policies, fiscal policies, etc. Based on these observation, analysis and studies, we come up to some suggestions to the future development of capital market development and its policies. It is suggested that under current situation we could reasonably accelerate the steps of capital market open-up and expand its effect; that