| Since 1990's, the trend of financial globalization has become more and more obvious because of the liberalization, internationalization and integration of world's financial market. During this time, international short-term capital has developed as one of the most active forces in the international economy. International short-term capital movement has driven the configuration of capital essentials all around the world, accelerated the development of international trade, added the fluidity of international financial market and advanced the efficiency of the market. But at the same time, the enormous scale and the quickly reactive speed also have beaten a lot of governments abruptly. International speculative capital, with the aim of big short-time returns, especially could bring about a country more risk on Financial stability than active influence by the way of the concussions to the financial market and money system. The supervisal and risk defence of short-term capital flow have become more and more important and hot.The thesis's aim is to analyze the active and passive infections of short-term capital flow to our country's Financial stability by choosing some indexes and to discuss how to keep away the risk of short-term capital flow. It includes the influence of the short—term capital flow on Balance Sheet ,inflation, actual interest rate, exchange rate, banking profit and securities asset price.This thesis construes the status and the effect of short-term capital flow in China. Finally, this thesis brings forward some supervisory means including reinforce the supervisial on the short—term capital flow and estabilish the well financial circumstance to keep Chinese Fiancial stability.The specific supervisory means are: estabilish the risk early warning indexes system, perfect the State Administration of Foreign Exchange management on the scale and pattern of short—term capital flow and complete the related law and regulation. |
PDF Full Text Request