共查询到20条相似文献,搜索用时 46 毫秒
1.
一、我国外汇储备概况
近几年来.随着对外贸易的迅速发展和外资持续大量流入,我国外汇储备激增,从2003年开始,每年外汇储备的增加额均超过于亿美元,并仍在不断增长。2006年底,我国外汇储备余额更是突破万亿美元大关,成为世界上最大的外汇储备国。截至2008年6月末,我国外汇储备已高达18088.28亿美元(见表1)。 相似文献
2.
2月中旬,美国财政部公布的月度数据显示中国在2009年12月时大手减持美国国债340亿美元,令其组合余额降至7554亿美元。在日本同月增持115亿美元美国国债至7688亿美元的情况下,日本重夺最大美国国债债权人的头衔。但仅仅在一个 相似文献
3.
4.
5.
蔡恩泽 《金融经济(湖南)》2011,(13)
5月30日,国家外汇管理局公布的2010年国际投资头寸表显示,外汇储备中有近4成是对外负债形成的。而对外负债的回报率远高于对外资产的收益率,负债性外储正在绑架中国外汇。四成外储是负债在2010年末的对外金融资产中,对外直接投资3108亿美元,证券投资2571亿美元,其他投资6439亿美元,储备资产29142亿美元,分别占对外金融资产的7%、6%、16%和71%;在 相似文献
6.
7.
8.
随着中国越来越紧密地融汇到世界经济当中,国际金融形势的动荡变化对中国的影响也越来越深刻。2003年国际金融领域里一个非常引人注目的现象就是美元的剧烈贬值及美元利率达到历史性低点。由于人民币与美元存在紧密的联系,中国的外汇市场及外汇存贷款也因此受到了较大影响。 相似文献
10.
随着国家“走出去”战略的实施,我国的境外投资规模日趋壮大。在境外市场的开拓,一方面增加了我国的税收和外汇储备,带动了对外投资、进出口贸易、技术服务、劳务输出等业务的快速发展;另一方面,增强了企业的市场意识,锻炼了参与竞争的能力,为在国际经济舞台上争得一席之地创造了条件。国家外汇管理局为方便企业在境外开拓市场, 相似文献
11.
12.
外资银行饕餮中国:金融"解冻"前的盛宴 总被引:3,自引:0,他引:3
2006年对外资银行来说是极其关键的一年.根据加入世贸组织的承诺,中国将在年底前向外资银行开放人民币业务,并取消对外资银行所有权、经营和设立形式采取的非审慎性限制措施,实现对外资银行的国民待遇.金融"解冻"前夕,为了抢占先机以占据有利的竞争地位,外资银行通过参股和扩张网络的方式加紧了对中国市场的抢滩,一场外资银行饕餮中国的盛宴拉开帷幕. 相似文献
13.
14.
We provide an overview of the important events of the recent global financial crisis and their implications for exchange rates and market dynamics. Our goal is to catalogue all that was truly of major importance in this episode. We also construct a quantitative measure of crises that allows for a comparison of the current crisis to earlier events. In addition, we address whether one could have predicted costly events before they happened in a manner that would have allowed market participants to moderate their risk exposures and yield better returns from currency speculation. 相似文献
15.
Estimating comovement measures for a large set of bilateral foreign exchange (FX) rates, I explore the relation between firm-level FX exposure and its time-varying diversifiability. For a sample of U.S. firms, the magnitude of FX exposure appears to increase during periods of low currency risk diversifiability. Additional results suggest that the introduction of the euro exacerbated the effect of diversifiability on developed market currency exposure. Moreover, the low diversifiability of emerging market currencies seems to have a stronger effect on FX exposure than the low diversifiability of developed market currencies. 相似文献
16.
Richard A. Meese 《Journal of International Money and Finance》1984,3(2):131-139
The testable implications of sticky price exchange rate models are discussed. The empirical examples suggest that the predetermined or sticky price assumption employed in recent asset models of exchange rate determination appears to be appropriate for Germany, Japan, the United States, and the United Kingdom. 相似文献
17.
This paper uses waveform dictionaries to decompose the signals contained within three foreign exchange rates using tick-by-tick observations obtained world wide. The three exchange rates examined are the Japanese Yen and the German Deutsche Mark against the U.S. dollar and the Deutsche Mark against the Yen. The data were provided by Olsen Associates.A wabeform dictionary is a class of transforms that generalizes both windowed Fourier transforms and wavelets. Each waveform is parameterized by location, frequency, and scale. Such transforms can analyze signals that have highly localized structures in either time or frequency space as well as broad band structures; that is, waveforms can, in principle, detect everything from shocks represented by Dirac Delta functions, to short bursts of energy within a narrow band of frequencies, to the presence of frequencies that occur sporadically, and finally to the presence of frequencies that hold over the entire observed period. Waveform dictionaries are most useful in analyzing data that are not stationary and non-stationarity up to second order is well recognized in the context of foreign exchange rates. 相似文献
18.
Foreign fiscal expansion has a contractionary, and monetary expansion an expansionary, effect on the small economy in the real wage model. The reverse conclusions hold in the money wage model only if the income elasticity of the demand for money is one or greater. The same results hold also for the stationay state effects. This theory provides an explanation—in the policy mix of the United States—for the recent lacklustre performance of Europe. Under rational expectations, foreign monetary expansion leads to an overshooting appreciation, fiscal expansion leading to several possible exchange rate responses. The new results are produced by consistently specified money demand and import functions, the supply side, and the wealth effect. 相似文献
19.
作为金融业的重要组成部分,保险业对国民经济的发展及社会的稳定起着举足轻重的作用。而保险业本身是经营风险的特殊行业,因此建立健全内控机制、防范和化解金融风险、开展集约化经营和管理是现代保险企业的必由之路。 相似文献
20.
The nature of the stochastic process generating the time path of foreign exchange rates plays an important role in dynamic theories of international financial economics. An important consideration in this stochastic process is the relationship between currency return variances and exchange rate levels. Using five years of daily data separated into quarterly intervals, this study demonstrates that currency return variances depend on exchange rate levels and the dependency is unstable intertemporally. Thus, these empirical results contradict the assumption of stable log-normal distribution and the more general assumption of constant elasticities of variances. For elasticity coefficients ordinary least squares estimates are compared to maximum likelihood estimates; the maximum likelihood estimator clearly is superior. Implications of these results for models of foreign exchange rates are discussed. 相似文献