The Interest Rate Risk And Control Of Chinese Market-Based Interest Rate Reform

As one of the important steps for Steady push forward the interest rate market reform and turns financial reform deeply, the interest rate market turns to contribute to improving financial environment, raising financial system to circulate an efficiency, promoting the latent function of the economic development.But from the international experience, the interest rate market turns reform is in flourishing . The interest rate in developing countrieses regardless the process that is all turns and twistses turbulence. For the developing country, because of macroscopic economic environment and the economic foundation is relative weak, as a result the developing country interest rate market turns reform to have risk doubtless more than the developed country.In our country, the interest rate market reform under way medium, the interest rate market turn of the positive effect has already approved extensively, but the interest rate market have negative effect or say the understanding of the risk has no systematic.Therefore the interest rate risk of reform formation mechanism to the interest rate market and guard against to the classification and the risk with control of the research have very important theories value and practice meaning.This paper analyze the interest rate market from the way of risk, hope to turn to found the risk of interest rate market formation mechanism and the risk performance of the method to control.The paper include three parts, part one or chapter one mainly introduct interest rate market turn from theories basis, Ronal Mckinnon's "Financial Restricting" and Edward S. Shaw's "Financial Deepening", especially analyzes the limitation of the theories which leads to the analysis of risks on economy development. As for China, interest rate liberation reform with the aim of interest rate liberalization both for deposit rate and loan rate is going along. Benefits of the reform have been widely recognized while the negative effects, in another words, risks, have not been systematically studied. On analysis to their treatise to develop the risk economy to build to rise theories terrace for the interest rate market that launches afterward.The second and threeth chapterses or the second part, chapter 2 mainly analyzed the interest rate market to turn the mechanism and category of the interest rate risk formation in the reform, from the theories and the international experience both side argument of the interest rate market after turn the inevitable phenomenon of the interest rate ascension and elaborated interest rate to go up in detail to change various risk that is cause by the market decision with interest rate.Chapter 3 describe the reform risk to carry on thorough analysis to our country interest rate market from the macro view and both side at the top of the foundation of chapter 2, analyzing the investment effect to invest the scale effect and invest the risk that the efficiency effect exist and save the risk of the effect existence, and then point out the interest rate market turns to have risk towards developping the Chinese economy of especially, if the contrary list price risk,contrary flows the effect risk and infects the effect risk and so on.. The third part of the article emphasized to analyze the interest rate market to turn the risk in the reform to guard against from the macro view and micro view the both side with controled measure to point out risk a control of the key.The article analyze the risk and control that the interest rate market turn finally, try to steady push forward the our country interest rate market to turn reform to put forward, also turned the control of the risk to put forward some first steps to conceive to the interest rate market.The new meaning of the article lie in: Article at analytical the interest rate market turn the foundation of the widespread and existent risk up, combine China of concrete investigated the interest rate market to turn from two levels physically to our country economy development risk.Moreover, on the contents, the study interest rate market turn of the article is so many, but the system discuss the theory less of its risk, this is a problem that the our country carries on the interest rate market to turn reform and can't get around; Besides, on the subject, the topic is somewhat new, and on the argumentation method, empirical analysis has been made in the processes, results and characteristics of the interest reform in developed and developing countries.