Dissertation > Excellent graduate degree dissertation topics show

Impact of deposit reserve rate adjustment on the stock market Chinese

Author: LiQiong
Tutor: YinYuMing
School: University of Electronic Science and Technology
Course: Business Administration
Keywords: the deposit reserve policy the stock market monetary policy Transmission mechanism
CLC: F822.0
Type: Master's thesis
Year: 2011
Downloads: 273
Quote: 1
Read: Download Dissertation

Abstract


The deposit reserve policy is one of China central bank’s three magic weapons, and also one of the important policy tools effect on our country’s stock market. Since 2010, China’s central bank raised the reserve requirement 12 times consecutively, of which in the first half of 2011, the central bank has raised 6 times with monthly frequency. Visible, the central bank attaches great importance to reserve policy, which be seen as a powerful weapon to control macroeconomic regulation. And every time before and after the adjustment of the deposit reserve ratio can cause the investors’attention, both from the central bank policy level and the angles of investors expect will have great influence. At present, Chinese has a narrow investment channels, the bond market is underdeveloped, so the stock market has become the main investment channel for urban residents.The state macro-control policy has been a great influence on the stock market; China’s stock market has also been named as the "policy market" by a number of domestic and foreign experts and scholars. According to central bank data show that since 2007 China has raised the deposit reserve ratio several times; September 25, 2008, the central bank monetary policy began to shift, the first time in two years cutting the deposit reserve ratio, while the Shanghai Composite Index also just in the September hit its lowest point after financial crisis. Thus, the central bank monetary policy implementation has a greater impact in China’s stock market. To study the impact of national policy on the stock market both for the majority of institutional investors and small individual investors is of great significance. Stock market ups and downs is depended on market funds situation, and the deposit reserve ratio adjustment directly determine the supply and demand of market funds, which has straightforward and obvious impact on the stock market.At the first this paper elaborates on related theory of monetary policy at home and abroad to influence the capital market, especially the influence of deposit reserve policy on the stock market; Secondly introduces the development course, main content and evaluation of deposit reserve policy, on the basis selecting the 2008 to 2010 years of the stock market data, applying the event study on the deposit reserve ratio adjustment on the stock market affect the empirical analysis; The result indicates: on the contrary of the traditional classical theory of western economics, in China our deposits reserve ratio adjustment on the stock market is not significant, or even contrary to the situation. (such as April 16, 2008, the central bank announced to raise deposit reserve ratio, meanwhile, investors won a positive excess rate of return); Finally, based on the cause of the state this paper carry out a detailed analysis, and put forward some suggestions on further reforming deposit reserve system and improving Chinese stock market. The result of this paper comes from empirical analysis of the scientific method, and the conclusion of the study has certain practical value, which provides effective and feasible suggestions for government policies formulation and the stock investment decision, and also conducive to further standardize and perfect China’s stock market.

Related Dissertations

  1. Empirical Research on Impacts of Real Estate Prices on Monetary Policy,F224;F293.3
  2. Research on Asymmetric Effects of China’s Monetary Policy,F224
  3. Governance of Japan's bubble economy,F131.3
  4. Study on the Relativity between the Fluctuation of International Oil Price and Chinese Stock Market,F832.51;F224
  5. China's stock market risk warning and empirical study,F224
  6. Theoretical and Empirical Analysis of Chinese Stock Market Affecting Monetary Policy Transmission Mechanism,F822.0;F224
  7. Effect of Non-tradable Share Reform on Chinese Stock Market,F832.51
  8. The Research of Sector Rotation of Stock Market,F832.51
  9. The Influence of Increasing Foreign Exchange Reserves to Monetary Policy in China,F822.0;F224
  10. The Empirical Research of the Relationship of China’s Stock Market and Real Estate Markets,F293.3;F224
  11. The Monetary Policy and Its Functions of the New Deal,K712.52
  12. To Promote the Healthy Development of the Stock Market Stability Tax System Conception,F812.42
  13. Research on the Effect of Chinese Interest Rate Adjustment to the Stock Price,F224
  14. Contrastive Analysis on American and Chinese Stock Market,F837.12
  15. The Research of the Asymmetries of the Monetary Policy Effect Based on STR,F224
  16. An Empirical Research on the Relationship between the Development of China’s Stock Market and Money Demand,F832.51;F822
  17. Research on the Correlation between Chinese Stock Market and Monetary Policy,F832.51;F822.0
  18. The Comparison Study of Direct Financing and Indirect Financing Efficiency,F272
  19. The Early Warning Study of Our Country’s Stock Market Bubble,F832.51
  20. The Applied Research of GARCH Family Model Based on the VaR Method in China’s Stock Market Risk Measure,F224
  21. Empirical Study on Determinants of Capital Structure of Chinese LC. in Different Industries,F224

CLC: > Economic > Fiscal, monetary > Currency > China's currency > Principle of policy and its elaborate
© 2012 www.DissertationTopic.Net  Mobile