国债回购

最后，对质押式国债回购交易流程进行梳理。

Finally , it sorts out the pledged bond repurchase transaction process .

本论文共分四部分：第一部分是国债回购制度的概述。

This thesis is divided into four parts : The first part presents a description of bond repurchase .

本文以银行间债券市场和上交所债券市场国债回购利率的行为为研究对象，利用广义矩估计方法分别估计两个市场的回购利率的CKLS模型。

Based on the data of 7-day repo rates on both inter-bank bond market and Shanghai Security Exchange bond market in China , CKLS models on the two markets are estimated respectively by GMM .

我国国债回购利率基本特征与统计检验

Repurchase Rates of Government Bonds : Basic Features and Statistical Test

我国国债回购市场运行分析

The Analysis on the Operation of Chinese Treasury Bonds Repurchase Market

我国国债回购市场利率期限结构分析

Term structure analysis of the bond repurchasing interest rates market of China

本文利用向量误差修正模型对各个国债回购利率的估计结果进一步验证了这一点。

Furthermore , the estimation results are supported by error correction model .

国债回购市场利率价差预测能力的再检验

Retesting Predictive Power of Repo Bond Interest Rate Price Spread

对国债回购风险的反思及对策研究

The Risk in Repurchasing the National Debt : Reflections and Its Countermeasures

本文第一章对国债回购的基本理论进行了介绍。

Chapter 1 introduce the basic theory of the treasury bonds repurchase .

中国银行间债券市场国债回购利率随机行为的实证研究

Some Evidence of the Stochastic Behavior of Interbank Bond Redemption Interest Rates

国债回购：制度、风险和对策

Government Bonds Repurchase : Institution , Risks and Countermeasures

基于我国国债回购市场的利率预期理论检验

Expectation Hypothesis on Interest Rate of Chinese TB Repo

第四部分提出改革和完善我国国债回购市场的基本思路。

The fourth part proposes the suggestions for Chinese Treasury bond repo market reform .

中国国债回购市场分析

Chinese National Debt Repurchase Market Analysis

含跳跃过程单因子利率模型的估计&基于中国国债回购利率的实证分析

Estimation for One-Factor Term Structure of Interest Rates With Jumps : Evidence from Government Bond Market

第二部分分析我国国债回购市场的现状和存在问题；

The second part analyzes the current situation and problems in Chinese Treasury bond repo market .

因而，国债回购成为财政政策与货币政策的一个重要结合点。

Therefore , Treasury bond repo becomes an important combination point of the fiscal policy and monetary policy .

1991年底，北京证券交易中心首次开办国债回购业务。

At the end of1991 , the securities trade center of Beijing began to deal with Repo trading .

旧的国债回购制度交易规则下，产生了大量挪用国债的现象。

Under the old trading rules of bond repurchase system , a large number of misappropriating phenomena appeared .

同样的，国债回购市场的规范和发展也反过来影响着国债的发行和流通。

In the same time , the repo market affects inversely the bond market 's issuance , scale and development .

但是我国的国债回购市场显然还没有进入轨道，规模过小、分割现象严重，这些问题都严重地阻碍了国债回购市场的健康发展。

Without stepping onto the right track and due to the small-scale market , the healthy development of the government market is hindered .

国债回购除了作为投资者投资套利的工具外，它还是货币政策和财政政策顺利实施的重要工具。

Besides as a tool of investment and arbitrage , Treasury bond repo is an important tool of monetary policy and fiscal policy .

与以往其他研究不同，本文对国债回购的理论基础进行了归纳总结，提出了国债回购产生的四个理论支持。

Quite different with the other researches , this essay starts with the induction of theories concerned and finds out four theoretic supporters .

中国的国债回购市场由于历史遗留因素及整个证券市场发展现状的制约，至今仍然存在许多问题。

Limited by factors of history and the developing level of security market , Treasury bond repo market in China has many problems .

从制度分析的角度看，金融制度对国债回购市场影响巨大，金融制度的特征及其变迁是影响国债回购运行的内生因素。

The character and its variance of the finance system is the interior factor that could make effect on treasury bonds repo transaction .

国债回购市场是国债市场的重要组成部分，是短期融资的重要渠道。

The treasury bonds repurchase market is an important part of the treasury bonds market and is a way to get short-term margin .

由于与现券交易相比有着诸多优势，因此经过短短几年时间的发展，国债回购已成为我国货币市场乃至金融体系中最为活跃的部分。

Thanks to many advantages over the immediate transaction , the treasury bonds repo transaction has reached an enormous amount in the several years .

国债回购市场由国债市场而派生，国债市场的规模、种类等影响和制约着国债回购市场的活跃程度；

As a derivative market of bond market , the repo market is greatly affected by the bond market in aspects of scale , category , etc.

导致中国证券公司破产与股市资金链断裂的重要原因之一是国债回购业务。

One of key factors that causes the bankruptcy of the security company and the rupture of cash chain is the business of state owned bond repurchase .