中国交易所债券市场发展模式研究
发布时间：2018-08-29 14:21
【摘要】：债券市场为金融系统提供巨大的流动性,为各类机构提供筹集资金的便利渠道,为各类投资者提供稳定收益的投资工具,债券交易价格所形成的收益率曲线是金融体系中各种金融产品收益水平的基准。交易所债券市场是中国债券市场的重要组成部分,只有认真研究其发展模式,才能得知其近些年来发展不力的原因,进而探索适合其健康发展的道路。本文试图在前人研究的基础上,采取理论与实证相结合的研究方法和循序渐进的研究思路,结合理论探索和实践经验对中国交易所债券市场发展模式这一课题进行研究。第一章讨论中国交易所债券市场发展模式的历史变迁和现状,第二章分析当前模式存在问题,第三章研究国外成熟市场的发展模式,第四章分析中国交易所债券市场的相对优势,第五章探讨中国交易所债券市场未来理想的发展模式。本文认为,我国交易所债券市场当前所出现问题的根源是缺乏清晰的市场定位以及衍生品发展滞后,必须明确其市场定位并发挥其相对优势,积极进行市场机制改革、市场化定价和产品创新,以求达到理想的发展模式。
[Abstract]:The bond market provides tremendous liquidity to the financial system, a convenient channel for raising funds for various institutions, and an investment vehicle for stable returns for various investors. The yield curve formed by the bond price is the benchmark of the income level of various financial products in the financial system. The exchange bond market is an important part of China's bond market. Only by studying its development mode seriously can we know the reasons for its weak development in recent years and then explore the road suitable for its healthy development. On the basis of previous studies, this paper attempts to study the development model of China's stock exchange bond market with the combination of theoretical and empirical research methods and progressive research ideas, combined with theoretical exploration and practical experience. The first chapter discusses the historical changes and the present situation of the development mode of the bond market of China's exchange, the second chapter analyzes the existing problems of the current model, and the third chapter studies the development model of the foreign mature market. The fourth chapter analyzes the relative advantages of China's exchange bond market, and the fifth chapter discusses the future ideal development model of China's exchange bond market. This paper holds that the root of the current problems in China's exchange bond market is the lack of clear market positioning and the lagging development of derivatives. It is necessary to make clear its market position and give play to its relative advantages and actively carry out the market mechanism reform. Market pricing and product innovation in order to achieve the ideal development model.
【学位授予单位】：复旦大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.51
本文编号：2211462
[Abstract]:The bond market provides tremendous liquidity to the financial system, a convenient channel for raising funds for various institutions, and an investment vehicle for stable returns for various investors. The yield curve formed by the bond price is the benchmark of the income level of various financial products in the financial system. The exchange bond market is an important part of China's bond market. Only by studying its development mode seriously can we know the reasons for its weak development in recent years and then explore the road suitable for its healthy development. On the basis of previous studies, this paper attempts to study the development model of China's stock exchange bond market with the combination of theoretical and empirical research methods and progressive research ideas, combined with theoretical exploration and practical experience. The first chapter discusses the historical changes and the present situation of the development mode of the bond market of China's exchange, the second chapter analyzes the existing problems of the current model, and the third chapter studies the development model of the foreign mature market. The fourth chapter analyzes the relative advantages of China's exchange bond market, and the fifth chapter discusses the future ideal development model of China's exchange bond market. This paper holds that the root of the current problems in China's exchange bond market is the lack of clear market positioning and the lagging development of derivatives. It is necessary to make clear its market position and give play to its relative advantages and actively carry out the market mechanism reform. Market pricing and product innovation in order to achieve the ideal development model.
【学位授予单位】：复旦大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.51
【参考文献】
相关期刊论文 前1条
1 高坚;杨念;;中国债券市场发展的制度问题和方法研究[J];财经科学;2007年12期
，本文编号：2211462
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