| 中国利率政策和证券市场的关系的分析 |
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| 引用本文： | 王军波,邓述慧. 中国利率政策和证券市场的关系的分析[J]. 系统工程理论与实践, 1999, 19(8): 15-22. DOI: 10.12011/1000-6788(1999)8-15 |
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| 作者姓名： | 王军波 邓述慧 |
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| 作者单位： | 中国科学院系统科学研究所, 中国科学院管理、决策与信息系统开放研究实验室 |
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| 摘 要： | 根据现值理论，利用事件分析和协整与误差校正模型方法研究了当前中国利率政策对证券市场的短期影响和长期影响，发现利率政策对证券市场的短期影响有反常现象；而利率政策对证券市场的长期影响是稳定的，我们可以利用它来预测当利率政策发生变动时，证券市场的反应；并给出一些实施利率政策的建议．
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| 关 键 词： | 利率政策 事件分析 协整与误差校正模型 证券市场 |
| 修稿时间： | :1998-08-2 |
Analysis of the Relationship between Interest Rate Policy and the Securities Market in China |
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| WANG Junbo,DENG Shuhui. Analysis of the Relationship between Interest Rate Policy and the Securities Market in China[J]. Systems Engineering —Theory & Practice, 1999, 19(8): 15-22. DOI: 10.12011/1000-6788(1999)8-15 |
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| Authors: | WANG Junbo DENG Shuhui |
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| Affiliation: | Institute of Systems Science, Academia Sinica |
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| Abstract: | Based on the modern monetary theory, this paper analyze the relationship between interest rate policy and the securities market of China by using event study and co integration model methods. We point out that the interest rate policy has some abnormal effects on the securities market in short time and has negative effects on the securities market in a long time. |
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| Keywords: | interest rate policy event study co integration and error correction model securities market |
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