摘要
参与者性质单调和结构失衡是阻碍我国银行间债券市场发展的重要因素,使债券的真实价格难以被发现,债券市场容量扩张受到限制,债券收益率曲线仅反映少数机构的预期。因此,为促进债券市场的发展,应丰富银行间债券市场的参与者结构,营造宽松、灵活、公平的政策环境。
The homogeneous nature and imbalanced structure of participants is a major obstacle to the development of China's interbank bond market. Due to these negative factors, the real price of bonds is hard to discover, the expansion of the market is restricted, and yield curves reflect merely the expectation of a few institutions. Therefore, the structure of participants in the interbank market should be diversified so as to create a loose, flexible and fair policy environment for bond market development.
出处
《中国货币市场》
2004年第5期50-51,共2页
China Money
