Policy Recommendations for Capital Market Development in China

机译：中国资本市场发展的政策建议

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摘要

This research covers the role of institutions, instruments and infrastructure in capital market development and contrasts it with that of China in an attempt to recommend policies that would strengthen China's capital markets.

机译：这项研究涵盖了机构，工具和基础设施在资本市场发展中的作用，并与中国进行了对比，以期提出旨在加强中国资本市场的政策。

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作者
Bakhshi Alveena;
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年度 2003
总页数
原文格式 PDF
正文语种 English
中图分类

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3. Theory to Practice: Policy Recommendations for Fostering Economic Development through Social Capital [J] . Engbers Trent A., Rubin Barry M. Public administration review . 2018,第4期

机译：实践理论：通过社会资本促进经济发展的政策建议
4. Development Proposals in China's Bond Market Based on Major Capital Markets Overseas and Inter-bank Market Experience [C] . Liu Xiaoti International Conference on Education, Management and Computing Technology . 2015

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5. Legal framework for the development of venture capital in China: Policy recomendations for the establishment of a Growth Enterprise Market ("GEM"). [D] . Wang, Dequan. 2007

机译：在中国发展风险投资的法律框架：关于建立创业型企业市场（“ GEM”）的政策建议。
6. Competition capital growth and risk-taking in emerging markets: Policy implications for banking sector stability during COVID-19 pandemic [O] . Miroslav Mateev, Muhammad Usman Tariq, Ahmad Sahyouni, 2021

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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。

Policy Recommendations for Capital Market Development in China

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