【摘要】 本文利用事件研究及误差修正模型对央行9次利率调整对沪市产生的短期和长期影响进行了实证研究。研究结果表明短期内股市对利率调整具有一定的敏感性、滞后性,但从长期来看利率变动与股市指数存在显著的负相关关系。更多还原

【Abstract】 The paper studies the impact on the stock market of Shang Hai resulted from the adjustment of interest rates by using event study and error correction model from 1996yr on.The findings are that the interest rate policy has the sensitivity effect,the time-lag effect in short time and has negative effects on the stock market in a long time.更多还原