我国国际投机资本流入影响因素的研究x.pdfVIP

Abstract Abstract Abstract AAbbssttrraacctt With the deepening of the process of globalization, national economies are becoming more and more closely, since China joined the WTO in 2001, market liberalization efforts continue to increase, in the enjoyment of a dividend at the same time opening the countrys financial market. facing the risk is growing, in which the main risk from international speculative capital inflows, the impact on Chinas economy. International speculative capital, showing the characteristics of high liquidity, profit-driven, high-destructive, if it is unrestricted in mass influx will not only disrupt our financial order, is a serious threat to the healthy operation of our national economy, especially Chinas financial markets at this stage is not perfect, the regulatory system is not sound, greater pressure faced by international speculative capital inflow shocks. Therefore, the impact factor of international speculative capital intoChinasresearchhasimportantpracticalsignificance. This article described on the basis of the results of domestic and foreign scholars in the past, the size of our country in recent years, international speculative capital inflows, approaches, and the impact of Chinas market. Focused on the impact factor of international speculative capital inflows, the author in the inspection on the basis of the relevant literature at home and abroad, and further comprehensive selection of the spot exchange rate, the Sino-US interest rate differential factors, the stock market factors, the real estate market factors, the domestic macroeconomic factors such as the five elements analyzed, and according to the characteristics of international speculative capital, short-term sensitivity of 48 months of monthly data from January 20