The Mechanism Financial Innovation Promotes China's Capital Market

机译：金融创新促进中国资本市场的机制

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Through the analysis of the already existed financial innovation in China's capital market, this paper did a research on the mechanism financial innovation promoting China's capital market. On basis of the above, the paper proposed that the financial innovation is the driving force of China's capital market and the development of China's capital market needs the support of innovation in financial products, institutions and systems.

机译：通过对中国资本市场中已经存在的金融创新的分析，本文对金融创新促进中国资本市场的机制进行了研究。在此基础上，本文提出金融创新是中国资本市场的驱动力，中国资本市场的发展需要金融产品，制度和制度创新的支持。

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《2011 International Conference on Management and Service Science》|2011年|p.1-4|共4页
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Wang Renxiang; Tong Teng;
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中图分类管理学;
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1. Reflections on the financial innovation of China’s capital market from the perspective of economic transformation [J] . Zhixu Mao E3S Web of Conferences . 2021,第a期

机译：从经济转型角度对中国资本市场金融创新的思考
2. Promoting China's financial market reform and innovation with opening-up policies [J] . Zhong Xu, Yingwei Tang, Yuanyuan Cao China Economic Journal . 2018,第1期

机译：实行开放政策促进中国金融市场改革创新
3. Research on China’s Exchange Online Financial Market: An Exchange Online Financial Capital Asset Pricing Model [J] . Chengyu Yang American Journal of Industrial and Business Management . 2019,第4期

机译：中国交易所网上金融市场研究：交易所网上金融资本资产定价模型
4. The Mechanism Financial Innovation Promotes China's Capital Market [C] . Wang Renxiang, Tong Teng International Conference on Management and Service Science . 2011

机译：该机制金融创新促进了中国的资本市场
5. Financial Market Innovation and Product Innovation: Evidence from Commodity Futures Markets and Stock Markets [D] . Kong, Lingfei. 2021

机译：金融市场创新与产品创新：来自商品期货市场和股票市场的证据
6. Internationalization and the capital structure of firms in emerging markets: Evidence from Latin America before and after the financial crisis [O] . Mauricio Melgarejo Duran, Sheryl-Ann Stephen -1

机译：国际化与新兴市场公司的资本结构：金融危机前后拉丁美洲的证据
7. Financial Development and the Distributional Effects of Monetary Policy Do the distributional consequences of monetary policy depend on the extent of financial development? Should optimal monetary policy vary across countries? In order to answer these questions, we develop a monetary growth production model with heterogeneous agents. In our economy, optimal policy needs to weigh the effects of policy across two groups — capital owners and individuals who hold liquid assets. While banks help limit the exposure to inflation, there are limits because money alleviates the frictions of private information and limited communication. In this environment, we compare two economies that are identical in every aspect except for their level of financial development. In a country with limited financial development, a stock market is absent. In the other, an equity market is active. In either economy, inflation adversely affects capital formation and output. Individuals who hold liquid assets are always adversely affected by inflation, but the attitude of capital owners depends on the level of financial development. In particular, in the presence of a stock market, the impact of inflation on the welfare of capital owners is non-monotonic. Nevertheless, optimal monetary policy is always more conservative at higher levels of financial development. [O] . TINA M. Edgar A. Ghossoub, TINA M. Robert R. Reedy 100

机译：金融发展和货币政策的分配效应货币政策的分配后果是否取决于金融发展的程度？各国的最优货币政策应该不同吗？为了回答这些问题，我们开发了一个具有异构代理的货币增长生产模型。在我们的经济中，最优政策需要权衡两个群体的政策效应 - 资本所有者和持有流动资产的个人。虽然银行帮助限制通胀风险，但存在限制，因为资金减轻了私人信息的摩擦和有限的沟通。在这种环境下，我们比较两个经济体在各个方面都是相同的，除了它们的金融发展水平。在金融发展有限的国家，缺乏股票市场。另一方面，股票市场活跃。在任一经济体中，通胀都会对资本形成和产出产生不利影响持有流动资产的个人总是受到通货膨胀的不利影响，但资本所有者的态度取决于金融发展的水平。特别是，在股票市场存在的情况下，通货膨胀对资本所有者福利的影响是非单调的。尽管如此，在较高的金融发展水平下，最优货币政策总是更加保守。

The Mechanism Financial Innovation Promotes China's Capital Market

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