Comparative Study on the Monetary Policy's Regulation and Control Effect on the Stock Market in China before and after Non-tradable Shares Reform

被引：0

作者：

He Yiqing ^{[1
,2
]}

Shi Ke ^{[2
]}

机构：

[1] Nanchang Univ, Ctr Cent China Econ Dev Res, Nanchang 330047, Jiangxi, Peoples R China

[2] Nanchang Univ, Syst Engn Res Inst, Nanchang 330031, Jiangxi, Peoples R China

来源：

STATISTIC APPLICATION IN SCIENTIFIC AND SOCIAL REFORMATION | 2010年

关键词：

Non-tradable shares reform; Monetary policy; Regulation and control effect; Co-integration analysis; Error Correction Model;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper uses Co-integration Theory and Error Correction Model to study the monetary policy's regulation and control effect on the stock market in China. Relative data is divided into two periods, before non-tradable shares reform (January, 2002 December, 2005) and after non-tradable shares reform (January, 2006 December, 2009). The results show that: the monetary policy much influences China's stock market before non-tradable shares reform; The regulation and control effect of monetary policy has been regulated so much more obviously on the stock market from non-equilibrium states to long-term equilibrium states after non-tradable shares reform. The stock market has been affected by the monetary policies for a shorter time after non-tradable shares reform.

引用

页码：966 / +

页数：2