利率市场化前后利率投资调节有效性国际经验

【作者】 朱杰；

【导师】 陆寒寅；

【作者基本信息】 复旦大学 ， 金融（专业学位）， 2013， 硕士

【摘要】 我国在1995年发布的《中国人民银行关于“九五”时期深化利率改革的方案》中提出利率市场化改革的思路。2011年初,政府发布的十二五规划中,明确提出了“稳步推进利率市场化改革”的目标。目前我国处于利率市场化的攻坚阶段。本文通过对美国、韩国以及南椎体智利、阿根廷、乌拉圭三国利率市场化的历史经验进行总结,以市场化后利率水平是否会出现大幅度波动、对商业银行的冲击、对经济增长的影响、合理的改革策略、改革时机的选择以及市场化后利率对投资的调节效率变动情况等问题为切入点,分析利率市场化前后一国的经济状况变化,希望对我国的利率市场化进程提供一定借鉴,防范改革中所可能面临的风险。更多还原

【Abstract】 The reform of interest rates liberalization in China was first proposed in Deepening the Reform of Interest Rates liberalization During the9th Five Year Period. At the beginning of2011, steadily promoting the reformation of interest rate liberalization in China was come up with. Now our country is at a crucial stage of interest rate liberalization.From studying the historical experience of America, Korea, Chile, Argentina and Uruguay, this paper aims to answer following questions:Whether interest rates would fluctuate sharply after the interest rates liberalization; the impact on commercial Banks; the impact on the economic growth; what is a reasonable reform strategy; how to choose the timing of reform; the change of the sensitivity of the interest rate on investment. I hope this paper could provide guidance for the reform of interest rates liberalization in China.更多还原