摘要20世纪90年代以来,一系列金融危机席卷了发展中国家:1994年墨西哥金融危机、1997年东南亚金融危机等。在这些发生危机的国家中,大部分处于资本项目开放进程中,而这些发展中国家在资本项目开放后经历了大规模的短期资本流入。这些资本流入后,大部分并没有流向实体经济部门,而是投向了银行、证券或房地产等行业,造成该国的经济泡沫。一旦这些国家经济有所下滑,这些资本便一反之前的大量流入而开始撤出,如此大规模的资本聚集和逆转必然会给这些国家的经济带来极大的危害。而中国在2001年入世后,经济的对外开放程度在不断提高,资本项目管制的有效性实际上也在不断下降,大量国际热钱开始流入中国。鉴于此,本文在分析热钱进入中国现状的基础上,分析热钱流入对中国货币政策的影响,并为热钱流入提出对策和建议。68240
毕业论文关键词:中国 ;热钱;货币政策;对策
毕 业 论 文 外 文 摘 要
Title The research of the effect of hot money on monetary policy in China
Abstract
Since the 1990s, a series of financial crisis has swept the developing countries: the Mexican financial crisis in 1994, the Asian financial crisis in 1997. In these countries, the majority in the capital account opens process and after the opening of the capital, a large-scale short-term capital inflows into these developing countries. These capital inflows do not flow to the real sector of the economy, but to the banking, securities or real estate industry, resulting in the country's economic bubble. Once the economies of these countries has declined, a large influx of capital will be an anti-began to withdraw such a large-scale capital accumulation and reversal is bound to bring great harm to the economies of these countries. China has became a member of the WTO since 2001, the openness of the economy continues to improve, but in fact, the effectiveness of capital controls has been declining, a large number of international hot money began to flow into China. View of this, based on the status of the hot money in China, then analysis the effect of hot money on monetary policy in China ,and put forward countermeasures and suggestions for hot money inflows.
Keywords China; hot money; monetary policy; countermeasures
目录
1 导论 1
1.1 研究背景及意义 1
1.2 研究目的和主要内容 1
2 热钱流入中国的现状分析 4
2.1 热钱概念的界定 4
2.2 国际热钱流入中国的规模 5
2.3 热钱流入中国的渠道分析 7
3 热钱流入对中国货币政策的影响分析 10
3.1 削弱了货币政策的独立性 10
3.2 限制了货币政策工具的使用 12
3.3 削弱了货币政策的效果 12
4 热钱流入中国的监管建议 13
4.1 越南热钱流动监管不力的经验教训 13
4.2 防范热钱流入中国的对策 14
结论 19
致谢 19
参考文献