预览加载中，请您耐心等待几秒...

股票市场与货币政策的互动效应研究.docx

预览
1/2
2/2

在线预览结束，喜欢就下载吧，查找使用更方便

下载提示 文本预览

如果您无法下载资料，请参考说明：

1、部分资料下载需要金币，请确保您的账户上有足够的金币

2、已购买过的文档，再次下载不重复扣费

3、资料包下载后请先用软件解压，在使用对应软件打开

股票市场与货币政策的互动效应研究 Introduction Thestockmarketandmonetarypolicyaretwokeycomponentsofaneconomy.Thestockmarketisaplatformfortradingofstocksandshares.Thestockmarketplaysacrucialroleintheeconomicgrowthofacountry.Themonetarypolicy,ontheotherhand,isagovernmentinitiativethataimstostabilizeeconomiesthroughcontrolofinterestratesandthemoneysupply.Themonetarypolicyinanycountryinfluencesthestockmarket.Thispaperseekstoanalyzethedynamicsbetweenthestockmarketandthemonetarypolicyinvariousstates. MonetaryPolicyandStockMarketDynamics Monetarypolicyandstockmarketinteractionsfollowtheconceptsofsupplyanddemand.Centralbankshavenumerousmonetaryinstrumentsthattheyapplytocontrolinterestratesandmoneysupply.Monetarypolicyinitiatesvariouspolicychangesthatinfluencethemoneysupply,whicheventuallyaffectsthestockmarket.Themonetarypolicyofanystatedeterminestheamountofmoneythatiscirculatingintheeconomy.Whenthecentralbankincreasesthemoneysupply,consumersandinvestorshavemorepurchasingpowerwhicheventuallyleadstoasurgeinconsumerconsumptionandbusinessinvestmentactivity. Thestockmarketexhibitsapositiveresponsewhenthemoneysupplyincreases,investmentactivityincreases,andstockpricesrise.Conversely,whenthecentralbankrestrictsthemoneysupplythroughraisinginterestrates,creditcontraction,andlimitinglending,thestockmarketgetsaffectednegatively.Investorshavelesspurchasingpowerresultingindecreasedconsumerconsumptionandinvestmentactivities,leadingtoadecreaseinstockprices.Adeclineinstockpricesindicatesadecreaseinconfidenceinthemarket,thusleadingtoabearmarket. ImpactofMonetaryPolicyontheStockMarket Thestockmarketistheindicatoroftheoverallnationaleconomy,andassuch,itsdynamicsareaffectedbythemonetaryoutlookofthecountry.Therelationshipbetweenmonetarypolicyandthestockmarketvariesdependingonthelevelofeconomicgrowth.Aloosemonetarypolicy,suchasalow-interestrateenvironment,leadstotheriseinequityprices.Reducedinterestratesmeanthatinvestorsarelikelytousetheirsavingstoinvestinstocks,thusincreasingtradingvolumesandpushingupstockprices