반복영역 건너뛰기
지역메뉴 바로가기
주메뉴 바로가기
본문 바로가기

연구정보

국내외 연구기관에서 발표된 중국 연구 자료를 수집하여 제공합니다.

연구보고서

Dissecting the Segmentation of China's Repo Markets

Xiaoqing Eleanor Xu 2021-08-25

자료이용안내

국내외 주요 기관에서 발표하는 자료들을 수집하여 제공하고 있습니다. 수록 자료의 자세한 내용은 해당 기관으로 문의하시기 바랍니다.

China repos trade in the over-the-counter interbank market as well as the stock exchange, but repo rates in these two markets are associated with large and persistent spreads that indicate market segmentation instead of integration. This paper examines the behaviours, sources, and drivers of the spread between China’s exchange and interbank repo rates from December 2006 to June 2018. After adjusting for different day-count quoting methods, I dissect the exchange to interbank repo spread into two components: cross-market segmentation between exchange and interbank markets for nondepository institutions (NDIs), and within-market counterparty segmentation between NDIs and depository institutions (DIs) in the interbank market. 


※ WP No. 17 "Dissecting the Segmentation of China’s Repo Markets"를 참조하세요.

목록