论文部分内容阅读
今年以来,国际资本市场进入了明显的牛市,债券市场价格大升,市场利率水平持续下降,股票市场(除日本外)涨势明显,世界主要工业化国家经济发展表现为以下特点:(1)世界经济进入经济周期中的回落期,经济增长趋缓,(2)通货膨胀得到了有效的控制,(3)西方中央银行政策独立性增强,货币政策的实施效果明显,(4)西方主要工业化国家开始调低利率水平。
Since the beginning of this year, the international capital market has entered a marked bull market. The prices of bond markets have risen sharply. The interest rates in the market have been declining. The gains in the stock markets (excluding Japan) have been notable. The economic performance of the world’s major industrialized countries is characterized by the following features: (1) (2) the inflation has been effectively controlled, (3) the independence of the central bank in the West has been strengthened, and the implementation of monetary policy has become more effective. (4) The economy in the major western industrialized countries Start lowering interest rates.