The Study On Short-term Capital Flows Supervision

Since the 1990s, debt crises and financial crises took place in some newly industrialized countries and developing countries, after them loosening capital control. Although these countries had some important internal reasons, large-scale speculative short-term international capital flows undoubtedly accelerated the outbreak of crises. Hence, with the principle of opening-up, strengthening the supervision of international short-term capital flows has become an international consensus, especially to some developing countries whose financial markets are in the process of opening. From the balance of payments of our country, it was obvious that more and more capital flowed in China in a short time in recent years. With the increase of economic and the anticipation of RMB appreciation, non-FDI capital inflows increase obviously. How to supervise the international short-term capital flows has become a problem our government should deal with prudently.Aware of the short-term capital flows creasing sharply and China's capital control policies, this thesis analyses the rule of international short-term capital flows and the supervision. There are six parts besides the conclusion. Firstly, we introduce the background and significance of the topic. Then we introduce the theories of international capital flows and supervision. Thirdly, through introducing the experience of developed countries and developing countries, we get some revelations. Fourthly, we estimate the scale of China's short-term capital flows and analyze the influencing factor of capital flows. Fifthly, the thesis sets out the actuality and problems of short-term capital supervision in China. Lastly, the thesis puts forward three suggestions to enhance the international short-term capital flows supervision in China.