摘要
在对我国的经济体制改革过程进行阶段性划分的基础上,本文采用分阶段线性回归和断点检验方法,研究了利率平价在中国转轨经济时期各阶段的拟合性,同时运用新制度金融学这一新的分析范式进行理论解释。研究发现,由于深层次制度等方面的原因,利率平价在我国的拟合性较低。但是,随着我国合理的产权制度的逐步确立、利率市场化改革的深入和货币自由兑换的逐步实现,利率平价在我国的拟合性正逐渐优化。
The purpose of this paper is to test the effect of the interest rate parity in China＇ s different economy reform stage positively, based on Multi-stage linear regression and Chow＇s Test and the new analysis framework of new institutional finance. We find that the effect is not such obvious as that in the developed countries due to some institutional factors. But, it shows a trend to grow more explicit with the establishing of the property-rights institution, and with the deepening of the reform of the liberalization of interest rate as well as the realizing of the free exchange rule of currency in China.
出处
《经济管理》
CSSCI
北大核心
2007年第20期18-23,共6页
Business and Management Journal ( BMJ )
关键词
利率平价
利率
汇率
制度
interest rate parity
interest rate
exchange rate
institutional
