我國公開市場操作的有效性研究.pdf

1、Yt028685分類號UDC密級編號筘北砰蟹犬孝碩士學位論文論文題目：我國公開市場操作的有效性研究學科、專業(yè)：碩士生：指導教師：答辯日期：金融學張春艷魏永芬教授2006年12月ABSTRACTSincethelaterin1980s，mostofthedevelopedcountrieshavelaunchedopenmarketoperationwhichwasusedasallindirectmonetarypolicyinstru

2、mentInthepracticeofmonetarypolicyindevelopedcountries，openmarketoperationhasbecomethemosteffectivemeasuretoadjustthefinancialmacroeconomicsbythecurrencyinstitutionWiththedevelopmentoffinancialsysteminnovationinChinaandth

3、econtinuingimprovementanddevelopmentofopenmarketoperation，ithasbecometheimportanttoolofroutinecurrencymanagementTodayourcountryfacesomeproblemssuchastheoversupplyofliquiditytherapidgrowthofForeigncurrencyreceiptsandincre

4、asingpressureofinflationThusitismostnecessarytesearchtheeffectivenessofopenmarketoperationofChina’SThepapermainlyresearchesthevalidityofChina’Sopenmarketoperationthroughthestructureofcomparativeanalysis，bringingforwardpr

5、oblemsandsolvingproblemsThetextisdividedintofourchaptersThefirstchapterin竹oducesthedevelopmentandstatusquoofChina’Sopenmarketoperationthroughdescribingopenmarketoperation’SstageandsizeofdevelopmentandsystemframeworkThese

6、condchapteristhecoresectionofthispaperItusestheempiricaltestinganalyzingtheeffectofcontrolbyopenmarketoperationthrou曲thequantitymethodAlsoitexerciseseconometricsmethodresearchingtheinfluenceonmarketratebyopenmarketoperat

7、ionTheconclusionisthattheadjustingfunctiontobasicmoneyislimitedthroughquantitymethodontheconditionofourexchangeratenonfullyfloatingButthereisrelativitybetweenopenmarketoperationaltoolandmarketratesWedon’tachieveamarket—o

8、rientedinterestrateyetWecarl’tadjustmarketbypricewayno、vIbutwecalltakeitasthedirectionofthedevelopmentofChina’SopenmarketserviceInaccordancewimtheanalysisoflastchapterthethirdchapterpointsoutsomeproblemsofopenmarketopera