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An Empirical Study on the Impact of Shanghai＆Shenzhen-Hong Kong Stock Connect Program on the Correlation between Onshore and Offshore RMB Interest Rate

徐菁

北京外国语大学

Abstract: Whether the financial liberalization measures effectively strengthened the communication between after the program of Shanghai＆Shenzhen-Hong Kong Stock Connect are explored with Co-integration test and Granger causality test.using the term of Hong Kong interbank offered rate（CNH-HIBOR）and Shanghai interbank offered rate（SHIBOR）.The research results show that there is no obvious narrowing trend in offshore and onshore RMB spreads after the connect program.There is no long-term stable equilibrium ... More
Keywords：

Shanghai-Hong Kong Stock Connect program; Shenzhen-Hong Kong Stock Connect program; SHIBOR; CNH-HIBOR;

  • Series：

    (J) Economics ＆ Management

  • Subject：

    Finance

  • Classification Code：

    F822.0

Tutor：

马琳;

Retraction:

金融

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