我国证券市场开放中的短期资本流动风险  

The Risk of Short-term Capital Flows during the Opening up of China’s Securities Market

作　　者：陈钧[1] 

机构地区：[1]郑州航空工业管理学院,河南郑州450015

出　　处：《上海金融》2010年第5期60-63,共4页Shanghai Finance

摘　　要：我国证券市场是一个发展不成熟、不完善的新兴加转轨市场,与国际成熟市场相比,在国际化进程中更容易受到外部金融市场的影响。伴随着资本项目的逐步放开,面对国际游资的冲击,会形成较大的系统风险从而影响整个金融市场体系的稳定。因此,正确认识我国证券市场开放中所面临的短期资本流动风险,如何借鉴其它新兴市场开放的经验模式,采取有效的防范措施和加强对短期资本流动的监管显得尤为重要。Compared to mature international markets, China’s securities market is an immature, imperfect, emerging and transitional markets, which is more vulnerable to external financial markets in the internationalization process. With the gradual liberalization of the capital account, the hot money will cause larger system risks which affect the stability of the entire financial market system. Therefore, it’s particularly important to understand the risk of shortterm capital flows duriing opening-up of China’s stock market, to learn from the experience of other emerging market, to take effective preventive measures and to strengthen supervision of short-term capital flows.

关 键 词：证券市场开放 短期资本流动 金融体系 

分 类 号：F830.91[经济管理—金融学]