| 利率干预股市：理论与实践的背离 |
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| 引用本文： | 王宏伟. 利率干预股市：理论与实践的背离[J]. 贵州财经学院学报, 2011, 29(5): 36-40 |
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| 作者姓名： | 王宏伟 |
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| 作者单位： | 中州大学经济贸易学院，河南郑州 ４５００４４ |
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| 摘 要： | 利率作为重要的宏观经济调控工具，每一次调整都引发了股票市场的波动。分析我国近几年来股市波动与利率变化的关系发现，在不同的经济发展现状和趋势下，利率变化对股市的影响不同，与股市波动的相关性表现也不同。判断利率调整对股市的影响程度和方向，不仅要考虑股市的波动趋势，还要考虑宏观经济发展趋势、宏观经济政策导向和投资者心理预期变化等因素，仅用利率变化来解释股市波动是不准确的。理论上利率对股票价格的影响，在实践中还难以得到验证。
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| 关 键 词： | 股市波动 利率 相关性 |
| 收稿时间： | 2011-06-14 |
Interest Rate's Interference in The Stock Market:The Deviation of Theory And Practice |
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| WANG Hong-wei. Interest Rate's Interference in The Stock Market:The Deviation of Theory And Practice[J]. Journal of Guizhou College of Finance and Economics, 2011, 29(5): 36-40 |
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| Authors: | WANG Hong-wei |
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| Affiliation: | WANG Hong-wei (School of Economics and Trade,Zhongzhou University,Henan,Zhengzhou 450044,China) |
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| Abstract: | Interest rate is an important tool of macroeconomic control,and its adjustment leads to stock market fluctuations.This paper analyzes the relationship between stock market fluctuations and changes in interest rate in China in recent years.It is found that under different economic conditions and trends,interest rate changes have different effects on stock market and different correlation with stock market fluctuations.To estimate the extent and direction of the effect of interest rate adjustments on stock ma... |
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| Keywords: | stock market fluctuation interest rate correlation |
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