摘要
本文通过分析2002年11月至2004年11月期间我国上海证券市场、全国银行间同业拆借市场和国债市场中的时间序列数据,认为在该时间段内我国资本市场和货币市场已经建立了明显的联动关系,资金价格信息主要从资本市场向货币市场传递,但反向传递能力差;数量信息是资金价格信息传递过程中不可缺少的中介。
Based on the econometric analysis of time serial data from November 2002 to November 2004 of Shanghai Stock Exchange, Inter-bank borrowing in China and Inter-bank bonding market in China, the article holds that there is obvious correlation between capital markets and money markets, and the capital prices mainly transmit from capital market to money market, and the opposite transmission appears weak. Furthermore, the quantity information is indispensable medium in capital price transmission.
出处
《财经科学》
CSSCI
北大核心
2005年第2期1-8,共8页
Finance & Economics
