The Study On The Influencing Factors And The Impact Of The International Short-term Capital Inflows To Our Country

Since the 1970's, the international short-term capital which strongly affect a country's economic stability and the financial system running has become more and more powerful.In this paper,based on the reality of our country and a variety of theory,firstly it make a general description and conclude that several types of factors of the international short-term capital inflowing to our country are as follows: the rate of return of the capital market, exchange rates, interest rates at home and abroad, as well as psychological, institutional and other factors.Secondly,combined with the relevant data,this paper conduct a quantitative study through setting up the econometric model to come to the relative degree of these types of factors and interaction effects on the international short-term capital inflows.Thirdly,this article make a further analysis of the impact of the short-term capital inflows on China's economic and financial systems and come to the conclusion that the inflowing of the short-term capital will break the existing economic stability.On the process of restoring the economic stability, international and domestic conflicts will take place.And the nature of the reasons for this contradiction lies in the fact that our country's export-oriented economy dependent.Finally, on the basis of the recommendations of some scholars and the findings of this article,this paper has put forward specific policy recommendations.