李朝颜-资本账户开放对跨境资本流动影响的研究.doc

本科论文本科论文摘要在经济全球化和金融全球化不断加强的今天资本账户开放成为我国经济融入全球经济的必经之路。在资本账户不断开放、兑换自由度不断提高的过程中我国应将跨境资本流动风险放在首要关注的风险上因为资本账户的持续开放必然会使跨境资本流动的速度变快、流量变大这对我国金融市场的稳定性会造成风险逐步叠加的影响。本文通过搜集2000-2018年国际货币基金组织发布的相关数据采用约束性测量测算出资本账户开放度将其与非储备性质金融账户的流入、流出、差额三项变化趋势进行比较。得出的结论认为随着资本账户开放的程度的不断增加跨境资本流动程度加剧同时总体流动规模呈上升趋势但是由于资本账户开放度并不是影响跨境资本流动的唯一因素其他因素可能会剧烈的影响到跨境资本流动的规模与程度。由此针对资本账户开放与跨境资本流动的现状与未来提出了相应的对策。关键词：资本账户跨境资本流动约束性测量AbstractWiththedevelopmentofeconomicglobalizationandfinancialglobalizationtheopeningofcapitalaccounthasbecometheonlywayforChina'seconomytointegrateintotheglobaleconomy.IntheprocessofpromotingtheopeningofthecapitalaccountthemostimportantthingforChinaistheriskofcross-bordercapitalflowsbecausetheopeningofthecapitalaccountwillcertainlybringalargeandrapidinflowandoutflowofinternationalcapitalthisincreasesinstabilityandriskinfinancialmarkets.InthispaperthecapitalaccountopennessismeasuredbybindingmeasuresbasedonthedatapublishedbytheIMFfrom2000to2018itiscomparedwiththeinflowoutflowandbalanceofnon-reservefinancialaccount.Itconcludesthatwiththeincreasingopennessofthecapitalaccountthedegreeofcross-bordercapitalflowshasintensifiedwhiletheoverallscaleofcapitalflowshasshownanupwardtrendbutsincecapitalaccountopennessisnottheonlyfactorthataffectscross-bordercapitalflowsotherfactorsmayaffectthescaleanddegreeofcross-bordercapitalflows.Thereforethispaperputsforwardcorrespondingcountermeasuresagainstthecurrentsituationandfutureofcapitalaccountopeningandcross-bordercapitalflow.Keywords:CapitalaccountCross-bordercapitalflowsBindingmeasures目录摘要IAbstractII前言11相关概念21.1资本账户开放21.2我国资本账户开放现状21.3跨境资本流动31.4我国跨境资本流动现状42资本账户开放对跨境资本流动的影响52.1资本账户开放度的分析52.1.1约束性测量法52.1.2我国资本账户开放度计算62.1.3小结62.2跨境资本流动的分析72.3结论103应对方法123.1建立完备的监管制度123.2完善风险预警系统123.3持续跨境资本改革133.4逐步推进开放进程133.5积极改善境内外投资环境133.6提升我国综合实力13结论14致谢15参考文献16本科论文前言随着中国国际地位的