Journal of East China Normal University (Philosophy and Social Sciences) >

2006 , Vol. 38 >Issue 2: 119 - 124

DOI: https://doi.org/10.16382/j.cnki.1000-5579.2006.02.019

The Opening-up and Innovation of Securities Market and the Development of Mundell-Fleming Model

  • De-lei YE
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  • School of Business, East China Normal University, Shanghai 200062, China

Received date: 2006-01-10

  Online published: 2006-03-30

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Abstract

One assumption of Mundell-Fleming model is that interest rate is a major, possibly the only, factor that affects the capital floating between nations. However, the market situation has always been the most influential factor when it comes to an open and international securities market, and the price of securities market is negatively related to interest rate. Based upon such facts, this paper illustrates that BP curve has a negative slope occasionally, which enriches the format of Mundell-Fleming model. The paper analyses the features of the effects of fiscal and monetary policy and the opening of China's securities market under the condition that BP curve has a negatively slope. Finally, the author discusses the impact of the financial innovations of securities market on the M-F model.

Key words： secunitics market; BP curve with a negative slope; M-F model,; financial innovation

Cite this article

De-lei YE . The Opening-up and Innovation of Securities Market and the Development of Mundell-Fleming Model[J]. Journal of East China Normal University (Philosophy and Social Sciences), 2006 , 38(2) : 119 -124 . DOI: 10.16382/j.cnki.1000-5579.2006.02.019

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