| 人民币升值对中国股票市场的影响机制分析 |
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| 引用本文： | 刘志军.人民币升值对中国股票市场的影响机制分析[J].经济与管理,2008,22(2):57-60. |
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| 作者姓名： | 刘志军 |
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| 作者单位： | 兰州商学院,金融学院,甘肃,兰州,730020 |
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| 摘 要： | 汇率和股票价格波动之间具有很强的相关性，汇率的变动会通过贸易、货币供应、利率、心理预期等机制引起股价的波动。虽然受外汇管制、金融市场发展程度及市场开放度的影响，人民币汇率通过传统的传递机制对中国股票价格波动受到一定限制，但在人民币持续升值的压力下，外资以直接和间接方式对国内股票市场造成的冲击已是不争的事实。
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| 关 键 词： | 人民币升值 传导机制 股价波动 资本流动 |
| 文章编号： | 1003-3890(2008)02-0057-04 |
| 修稿时间： | 2007年12月31 |
Analysis on the Influence mechanism of the Renminbi Revaluation to China's Stock Market |
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| Liu Zhijun.Analysis on the Influence mechanism of the Renminbi Revaluation to China's Stock Market[J].Economy and Management,2008,22(2):57-60. |
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| Authors: | Liu Zhijun |
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| Institution: | Liu Zhijun (Finance School, Lanzhou Business School, Lanzhou 730020, China) |
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| Abstract: | Between the exchange rate and the stock price undulation has the very strong relevance,the exchange rate's change can cause the stock price undulation through many mechanisms,including the transit trade,the currency supply,the interest rate,the psychology anticipated and soon on.The influence of the RMB exchange rate on China's stock price fluctuation through the tradional conduction mechanism is restrained because of the foreign exchange control,the development degree of finance market and the influence of the market open.But for the pressure of the RMB revaluation increasingly,foreign capital shockis the home stock market in the direct and indirect methods is the neccessary fact. |
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| Keywords: | Renminbi revaluation conduction mechanism stock price undulation circulation of capital |
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