国际短期资本流动对我国经济的影响研究-金融学专业论文.docxVIP

II II Abstract With the deepening of economic globalization and financial innovation, the international short-term capital flows have become increasingly frequent; this will impose a significant impact to capital-importing and capital-exporting countries on economic development. In general, on the one hand, the international short-term capital flows can meet the demand of capital for capital-importing countries, while it can provide more investment channels for capital-exporting countries, on the other hand, the effectiveness of macroeconomic policies of capital-importing countries and capital-exporting countries will be weakened to some extent, also the volatility of real estate and securities markets will be exacerbated, then lead to increased risk of the entire financial system. With institutionalization, speculation, derivatives and other features under the new situation, while international short-term capital flows bring economic development opportunities among countries, it also impose a higher demand on the countrys economic system. The monetary authorities must continue to improve the level of international short-term capital management, maximize the use of international short-term capital to develop economic. As a developing country with sustained economic growth, the channel, scale and structure of chinas international short-term capital flows has undergone tremendous changes in the new economic situation. It causes varying degrees of impact on macroeconomic stability, financial market, the stability of banking system. International short-term capital flows impact on Chinas inflation, balance of payments, as well as domestic savings and investment rates reflects its main impact on Chinas macroeconomic stability mainly; its impact on Chinas monetary market, stock market and foreign exchange market reflects its main impact on Chinas financial market; its impact on our banking systems credit risk, market risk and liquidity risk level reflect its main impact o