| 中国汇率与股票价格联动的实证研究 |
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| 引用本文： | 郭福春,姚星垣.中国汇率与股票价格联动的实证研究[J].广东金融学院学报,2007,22(3):55-60. |
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| 作者姓名： | 郭福春 姚星垣 |
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| 作者单位： | 浙江金融职业学院,浙江杭州,310018 |
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| 摘 要： | 汇率与股票价格之间存在着联系。汇率—股票价格之间的传统机制、组合机制、短期套利机制、利率粘性机制和产出机制在中国受到不同程度的影响,但是中国汇率和股票价格之间并不是完全隔绝的。中国的汇率与股票价格联动机制以及其发生作用的方式和程度与成熟市场经济体之间有较大的差异,投机机制已经率先发挥一定的作用。
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| 关 键 词： | 人民币汇率 股票价格 传导机制 传导途径 |
An Empirical Study on Interaction Between Exchange Rate and Stock Price in China. |
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| Guo Fuchun,Yao Xinhuan.An Empirical Study on Interaction Between Exchange Rate and Stock Price in China.[J].Journal of Guangdong University of Finance,2007,22(3):55-60. |
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| Authors: | Guo Fuchun Yao Xinhuan |
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| Abstract: | The interaction between exchange rate and stock price has been greatly studied.This paper clarifies arbitrage mechanism,stick interest mechanism and output mechanism apart from the traditional approach and the portfolio approach.Further,three main ways have been put out,namely invest way,consumption way and output way.Now,three ways has only slight influence upon exchange rate and stock price,however,short term factors has been increasing its effect |
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| Keywords: | CNY Exchange Rate Stock Price Transitions Mechanisms Transitions Ways |
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