国际资本流动.pptVIP免费

国际资本流动国际资本流动2本章重点讲述的是国际资本的流动方式、原因及形成原理。通过学习使学生理解如何较好地利用外资，加强对国际资本流动的监管，防范其带来的金融风险。35.1:5.1:InternationalCapitalInternationalCapitalFlow:ItsgeneralframeworkFlow:Itsgeneralframework形式形式formsforms来源与结构来源与结构source&structuresource&structure渠道渠道channelschannels投机资金投机资金SpeculativefundsSpeculativefunds4形式形式FormsForms直接投资直接投资FDIFDI证券投资证券投资PortfolioInvestmentPortfolioInvestment国际信贷国际信贷Int’lCreditInt’lCredit其他其他OthersOthers5source&structuresource&structure来源来源SourceSource–国际储蓄国际储蓄Int’lsavingsInt’lsavings–Incomeavailable-ConsumptionIncomeavailable-Consumption结构结构StructureStructure–Int’lbankscreditInt’lbankscredit–Lendingorfinancefromgovernment/Int’lLendingorfinancefromgovernment/Int’lfinancialorganizationfinancialorganization–Investmentfromfirms(MNC)Investmentfromfirms(MNC)–OthersOthers6SourcesandstructureSourcesandstructureSeetable5-1oftextbookforthestructure.Seetable5-1oftextbookforthestructure.Seetable5-2textbookforsources.Seetable5-2textbookforsources.7ChannelsChannelsChannelsChannels官方渠道官方渠道OfficialchannelsOfficialchannels私人渠道私人渠道PrivatechannelsPrivatechannels–FDIFDI–PortfolioinvestmentPortfolioinvestment–Bankcredit&othersBankcredit&othersSeetable5-3forthesizeofcapitalflow.Seetable5-3forthesizeofcapitalflow.8国际投机资本国际投机资本SpeculativefundsSpeculativefundsDefinitionDefinition–没有固定的投资领域、期限较短（一般在没有固定的投资领域、期限较短（一般在11年以下）、以追逐高额短期利润为目的而在年以下）、以追逐高额短期利润为目的而在各市场之间移动的短期资本。各市场之间移动的短期资本。特点特点–PortfolioratherthanFDIPortfolioratherthanFDI–Betweensecuritiesmarket,FXmarket,Betweensecuritiesmarket,FXmarket,M/M,DerivativesmarketM/M,Derivativesmarket–PerformhighrisktransactionsPerformhighrisktransactionsArbitrageArbitrage9Speculativefunds:someremarksSpe...