我国金融市场中利率平价理论的分析和运用

Analysis of the interest rate parity theory and its application in the finance market of China

加入 WTO意味着中国经济彻底市场化和主动参与世界竞争。利率与汇率市场形成机制的完善成为我国金融市场开放的核心。中国要在较短的时间内有步骤地取消对资本流动的限制 ,必须掌握开放市场中的汇率决定理论 ,这也是能否正确使用各种金融工具去防范金融风险的关键。文章阐述了利率平价理论在金融市场中的汇率决定机理 ,结合中国金融市场的开放进程 ,讨论利率平价理论在中国的应用。使用定性分析和定量推演的方法 。

China's entering into WTO means drastic market opening and active participation in the world competition,and China shall cancel the restrictions on capital flowing step by step,so the consummate forming mechanism of the interest and exchange rate becomes the center of the finance market reform,and the exchange rate determination theory must be grasped,which is the key to taking precautions against the financial risk by using market tools. In this paper,the interest rate parity theory is introduced and its application in the finance market of China is discussed based on the analysis of the opening course of the finance market. The techniques of managing the capital of enterprises and avoiding the financial risk by using the theory are demonstrated.