Positivist Analysis on Effect of Monetary Policy on Stock Price Behaviors

摘要：

In the light of concerned theories affecting stock price，this Article，adopting modern computing／econometric technique，studied the effect of macro-economic elements as exchange rate，savings reserve，interest rate and money supply to stock price based on monthly time series data from Jan．2005 to Jun．2007 of China．Since June 2005，stock prices in share market of this country has kept rising,thanking mainly to fast economic growth,RMB appreciation and adequate money supply．However,adding interest rate and increasing savings reserve rate has limited effect stock price change．

关键词： Monetary Policy Stock Price Vector Auto-regression Coordinating Analysis Granger Causality

作者: CHEN Shaoping

作者单位: School of Banking,Jiangxi University of Finance & Economics P.R.China,330013

会议类型: 国际会议

会议名称: 2008 Conference on Regional Economy and Sustainable Development(2008区域经济与可持续发展国际学术会议)

会议地点: 济南

会议语种:英文

页码: 679-687

在线出版日期: 2008-11-01（万方平台首次上网日期，不代表论文的发表时间）