| 信贷渠道对我国股票市场的影响 |
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| 引用本文： | 罗丽珍,王昀. 信贷渠道对我国股票市场的影响[J]. 特区经济, 2007, 0(3): 117-118 |
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| 作者姓名： | 罗丽珍 王昀 |
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| 作者单位： | 暨南大学,经济学院,广东,广州,510632 |
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| 摘 要： | 信贷渠道是我国货币政策主要的传导渠道。货币政策通过传导渠道对股票市场产生影响。本文运用协整与基于向量自回归模型的格兰杰因果检验和预测方差分解等时间序列分析方法,实证分析信贷渠道对股票市场的影响,结果表明信贷渠道对我国股票市场产生显著的负相关影响。
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| 关 键 词： | 信贷渠道 资本市场 误差修正模型 |
Credit channel''''s influence on China''''s stock market |
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| Luo Li Zhen,Wang Jun. Credit channel''''s influence on China''''s stock market[J]. Special Zone Economy, 2007, 0(3): 117-118 |
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| Authors: | Luo Li Zhen Wang Jun |
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| Abstract: | Credit channel is traditional vehicle of monetary policy.Monetary policies influence stock market by the channel.This paper uses such time series analysis methods as Cointegration and Vector Autoregression model based Granger Cause Test and anticipation Variance Decomposition to analyze the influence on stock market by credit channel.The result shows that credit channel has an apparent negative influence on China's stock market. |
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| Keywords: | Credit channel Capital market Error correction model |
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