Research on the Relationship between China’s Economic Policy Uncertainty and Stock Market

Zhou, Donghai; Jiang, Yuanying

doi:10.4236/jfrm.2020.94025

Cited by 5 publications

(4 citation statements)

References 18 publications

(19 reference statements)

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“…Due to the expansion of financial opening, which has changed the original strict capital control pattern, external market disturbances are very easy to impact the financial stability of the domestic market. In addition, the two-way opening of the capital market may lead to cross market contagion of internal and external risks [16]. The impact of external market risks has greatly weakened the level of RMB internationalization.…”

Section: External Market Risk Transmission Mechanismmentioning

confidence: 99%

The Impact of Capital Account Opening on RMB Internationalization

Qian

2023

FBEM

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At this stage, the internationalization of RMB is inseparable from the opening of capital account, and in this process, it is bound to face the challenge of systemic financial risks. Based on SV-TVP-VAR model, this paper makes a time variant analysis on the systemic financial transmission mechanism of capital account opening Affecting RMB internationalization. It is found that the opening of capital account promotes the development of RMB internationalization, and the international use of RMB will force the expansion of capital account opening. Further research shows that the current capital account is not easy to fully open, capital account convertibility intensifies the spillover of macroeconomic risks and external market risks, and macro prudential supervision needs to be improved. The restraint of capital account opening on monetary liquidity risk and asset bubble risk shows time varying characteristics, and the long-term development of RMB internationalization urgently needs to deepen the reform of financial system.

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Section: External Market Risk Transmission Mechanismmentioning

confidence: 99%

The Impact of Capital Account Opening on RMB Internationalization

Qian

2023

FBEM

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“…The more noise traders there are, the more intense the stock market volatility in China will be [3]. Fangzhao Zhou and Shaoqing Gu used the stepwise regression method, the between January 2010 and June 2018, the data is analyzed, and the results show that the uncertainty of economic policy under the different markets exists asymmetric volatility in the market, compared with institutional investors, the uncertainty of economic policies more easily through the retail sentiment on the stock market impact [4]. Wenqi Yang and Yan Wang selected the daily frequency time-series data of the KEChuang Board and constructed comprehensive indicators of investor sentiment, herd behavior, and market volatility based on a non-parametric HS model and other methods.…”

Section: Research On Investor Sentiment and Stock Market Fluctuationmentioning

confidence: 99%

Exchange Rate, Investor Sentiment, and Fluctuation of China A-share Market

Zhu¹

2023

Proceedings of the International Conference on Financial Innovation, FinTech and Information Technology, FFIT 2022, October 28-

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The development quality of China's stock market is related to the healthy development of the financial system and national economy, and it also affects the development speed of urbanization. Based on time series VAR model and EViews, this paper use the exchange rate of RMB and investor sentiment to conduct empirical analysis on the fluctuations of China's A-share market. Through computer simulation and calculation, the experimental results show that the change in investor sentiment and the fluctuation of the Chinese A-share market are Granger causes for each other. The impact of the changes in investor sentiment on the volatility of China's A-share market is stronger than that of changes in the RMB exchange rate, but the impacts are both limited. This paper illustrates the dynamic relationship between the volatility of China's A-share market, RMB exchange rate, and investor sentiment.

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“…According to Zhou and Jiang [17], Economic policy uncertainty is the inevitable systemic risk of the company. In the face of unpredictable economic policies, the company does not just passively accept them.…”

Section: Journal Of Mathematical Financementioning

confidence: 99%

Research on the Impact of Economic Policy Uncertainty on Corporate R&D Innovation: Evidence of China’s Strategic Emerging Industries

Xie¹,

Chen²,

Tang³

et al. 2022

JMF

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Based on the data of China's A-share listed strategic emerging industry companies from 2011 to 2019, this paper discusses the impact of economic policy uncertainty on R&D innovation. The research shows that the uncertainty of economic policy inhibits the R&D innovation of companies in strategic emerging industries; In the analysis of heterogeneity, it is found that under different property rights and asset scales, the uncertainty of economic policy can inhibit the R&D innovation of companies in strategic emerging industries, especially for non-state-owned or small-scale companies. Based on the research conclusion, this paper suggests that the government should continue to build a fully competitive, fair, transparent and open business system, and strategic emerging industry companies should take measures to improve corporate governance quality to alleviate the impact of economic policy uncertainty.

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Research on the Relationship between China’s Economic Policy Uncertainty and Stock Market

Cited by 5 publications

References 18 publications

The Impact of Capital Account Opening on RMB Internationalization

The Impact of Capital Account Opening on RMB Internationalization

Exchange Rate, Investor Sentiment, and Fluctuation of China A-share Market

Research on the Impact of Economic Policy Uncertainty on Corporate R&D Innovation: Evidence of China’s Strategic Emerging Industries

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Research on the Relationship between China’s Economic Policy Uncertainty and Stock Market

Cited by 5 publications

References 18 publications

The Impact of Capital Account Opening on RMB Internationalization

The Impact of Capital Account Opening on RMB Internationalization

Exchange Rate, Investor Sentiment, and Fluctuation of China A-share Market

Research on the Impact of Economic Policy Uncertainty on Corporate R&amp;D Innovation: Evidence of China’s Strategic Emerging Industries

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Research on the Impact of Economic Policy Uncertainty on Corporate R&D Innovation: Evidence of China’s Strategic Emerging Industries