摘要
2013年5月以来,新兴市场货币掀起一轮又一轮的贬值浪潮,股市债市也难逃厄运,资本大量外流,究其原因,一是美联储量化宽松政策的退出预期及退出政策的实施;二是2012年以来部分新兴经济体经济开始下滑,打压了投资者信心,加上新兴经济体自身发展中存在的一系列问题,提升了新兴市场的风险预期;三是后国际金融危机时代,新兴经济体的资本流动呈现出新特点,导致其金融市场的波动加剧。对此,新兴经济体应采取多种措施应对,以防范货币金融危机的发生。
Since May 2013, emerging market currencies set off another round of devaluation wave, at the same time, the stock markets are in doom, large capital outflows. We find there are three reasons： the first is the exit expectations of the Fed＇s quantitative easing policy and exit policy since 2012 ; the second is some the emer- ging economies begin to decline, a series of problems in the development of emerging economies enhance the risk expectations in emerging markets; the third is the post financial crisis era, capital flows to emerging economies have shown new characteristics, resulting in their financial market volatility increasing. In this regard, emerging economies should adopt a variety of measures, to prevent the occurrence of monetary and financial crisis.
出处
《亚太经济》
CSSCI
北大核心
2014年第3期26-31,共6页
Asia-Pacific Economic Review
关键词
新兴经济体
金融市场波动资本流动量化宽松
Emerging Economies, The volatility of Financial Market, Capital Flow , Quantitative Easy
