| Title |
The Impact of RMB Exchange Rate and Stock Price on Short-term Capital Flow |
| ID_Doc |
29887 |
| Authors |
Guo, YA; Sun, K |
| Title |
The Impact of RMB Exchange Rate and Stock Price on Short-term Capital Flow |
| Year |
2018 |
| Published |
|
| DOI |
|
| Abstract |
Recently, many hot moneys have flowed into our country, and the occurrence of the financial crisis has aggravated the uncertainty of short-term capital flows, which has attracted extensive attention from the government and academia. This paper uses step-by-step OLS method to empirically analyze the impact of RMB exchange rate and stock price on China's short-term international capital flows from 1994 to 2016 by controlling Sino-US interest rate spreads and macroeconomic conditions. The empirical results show that the RMB exchange rate has no significant correlation with short-term international capital flows, but the change of stock price will affect it. The stock price rises, the short-term international capital outflow increases. Macroeconomic indicators will also affect the short-term international capital flow in China, and there is a positive correlation between them, but the impact of China-US spreads is not obvious. |
| Author Keywords |
Short-term International Capital Flow; RMB Exchange Rate; Stock Price; Stepwise Multivariate Regression Model |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Conference Proceedings Citation Index - Social Science & Humanities (CPCI-SSH) |
| EID |
WOS:000468302800011 |
| WoS Category |
Management; Social Sciences, Biomedical |
| Research Area |
Business & Economics; Biomedical Social Sciences |
| PDF |
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