我国货币政策股票市场传导机制实证分析.docVIP

摘要 摘 要 随着我国股票市场的深入发展，股票市场在我国国民经济中扮演的角色越来越重要，股票市场的兴起和发展不仅影响了我国的金融结构，也导致了我国货币政策传导机制的形式多样化和过程复杂化。研究货币政策对股票市场的传导机制，无论是对于货币政策的制定，还是引导股票市场的良性发展，都有着重要的指导意义。 本文在深入剖析前人对货币政策的传导机制，尤其是货币政策的股票市场传导机制的研究成果的基础上，全面探讨了我国目前货币政策的股票市场传导机制的主要途径，通过收集货币政策的代表变量，即货币供给量、利率，和股票市场价格的代表变量上证综指的时间序列数据，建立计量模型，运用单位根检验、格兰杰因果检验、协整检验和误差修正模型的方法对货币政策的股票市场传导机制进行实证分析，并得出结论。 关键词：货币政策 股票市场 传导机制 Abstract Abstract With the further development of Chinas stock market, the stock market in Chinas national economy plays an increasingly important role. The rise and development of the stock market not only affect the countrys financial structure, but also led to a form of monetary policy transmission mechanism of diversification and complicate the process.The research of monetary policy transmission mechanism in the stock market has an important guiding significance both for the formulation of monetary policy and to guide the healthy development of the stock market . In-depth analysis of the previous article on the monetary policy transmission mechanism, especially basic research stock market transmission mechanism of monetary policy ,this article full discusses the main ways of our current stock market transmission mechanism of monetary policy, by collecting time series data of money supply, interest rates that on behalf of monetary policy, and the Shanghai Composite Index on behalf of stock market prices , through the establishment of econometric models, using unit root test, Granger causality test, co-integration test method and error correction model to conduct the empirical analysis of stock market transmission mechanism of monetary policy, and then, draw conclusions. Keywords: Monetary policy Stock market Transmission mechanism 目 录 1 导论………………………………………………………………………………1 1.1 选题背景及意义………………………………………………………………1 1.2 文献综述 ……………………………………………………………………2 1.2.1 国外研究成果 …………………………………………………………2 1.2.2 国内研究成果 …………………………………………………………3 1.3 本文研究的问题、方法和结构 ……………………………………………4 1.3.1 研究的问题 ……………………………………………………………4 1.3.2