储蓄国债利率定价机制研究——以三年期储蓄国债(凭证式)为例  

Study on the Interest Rate Pricing Mechanism of Savings Bonds--In a Three-year Savings Bonds(certifi cate)as An Example

作　　者：姜蕊[1] 梁朕 JIANG Rui;LIANG Zhen

机构地区：[1]中国人民银行佳木斯市中心支行,黑龙江佳木斯154002

出　　处：《吉林金融研究》2021年第6期15-19,共5页Journal of Jilin Financial Research

摘　　要：国债的本质是政府为筹集资金,以自身信用作为背书,向社会公众发放的一种债券,储蓄国债是一种不可流通记名国债,它仅面向个人投资者、以吸收个人储蓄资金为目的,满足长期储蓄性投资。近年来我国储蓄国债销售状况不景气,缺乏市场竞争力,在利率市场化背景下,亟需建立一套完善的市场化储蓄国债定价机制,来提高国债的市场竞争力,本文通过选取利率市场中重要利率指标,通过PLS分析尝试建立解释模型,为储蓄国债定价提供依据。The essence of national debt is a kind of bond issued to the public by the government in order to raise funds and take its own credit as endorsement.The savings national debt is a kind of non-negotiable registered national debt.It only faces individual investors and meets long-term savings investment for the purpose of absorbing individual savings funds.Savings bonds in China in recent years sales downturn,lack of market competitiveness,under the background of interest rate marketization,the need to establish a set of perfect market savings bonds pricing mechanism,to enhance the market competitiveness,in this paper,by choosing the interest rate in the market is an important factor of interest rates through the PLS analysis attempts to establish a interpretation model,provide the basis for savings bonds pricing.

关 键 词：储蓄国债 利率定价 PLS回归 

分 类 号：F830[经济管理—金融学]