论文部分内容阅读
自从上世纪80年代资本市场以及经济全球化在我国的发展以来使得股票市场在我国的发展也越来越繁荣。随着金融创新在我国股票市场不断深化,股票市场的融资功能、资源配置功能等也逐渐显现出来并对我国的经济发展带来越来越大的影响。随着股票市场的发展对世界各国的经济的影响的逐渐扩大使得许多国家的货币当今在制定货币政策时更加重视货币政策对股票市场的影响。无论是从实际的股票交易出发还是从学术出发,其都认为货币政策会对股票价格产生影响。货币政策对股票市场的影响以及影响渠道到现在依然存在很多争议和不清楚的地方。本文从货币供应量变动、利率变动、通货膨胀三个方面出发讨论其对股票价格的影响并进行详细的综述研究分析。
Since the development of the capital market and economic globalization in our country in the 1980s, the development of the stock market in our country has become more and more prosperous. With the constant deepening of financial innovation in the stock market of our country, the financing function and resource allocation function of the stock market are gradually emerging and exert more and more influence on the economic development of our country. As the stock market’s impact on the economies of various countries in the world widens, many countries nowadays pay more attention to the impact of monetary policy on the stock market in their monetary policy. Both from the actual stock exchange or from the academic, they all think that monetary policy will have an impact on stock prices. The impact of monetary policy on the stock market and the channel of influence There are still many controversies and unclear places. This article discusses the impact on the stock price from three aspects: the change of the money supply, the change of the interest rate and the inflation, and carries on a detailed summary of the research and analysis.