Posted on Categories:Financial Empirical, 金融代写, 金融实证分析方法

# 金融代写|金融实证分析方法代写Financial Empirical代考|FIN826 Money and Capital Markets

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## 金融代写|金融实证分析方法代写Financial Empirical代考|Money and Capital Markets

On the basis of the original maturity length of the financial instruments traded, financial markets can be divided into two general types: money markets and capital markets. The money market is the market for short-term funds (usually one year or less) and includes instruments such as treasury bills, banker’s acceptances, and commercial paper, while the capital market is the market for securities of longterm funds (usually more than one year to maturity) and instruments such as bonds, notes, and stocks. The money market rate is usually calculated as (Nikolova 2002):
$$m r_t=\left(\frac{d_t}{1-\left(d_t / 365\right)}\right)\left(\frac{365}{M}\right)$$
where, $m r$ is the money market rate, $d$ is the discount and $M$ is the days to maturity. The Thai money market rate for the period 1992-2001 is shown in Figure 2.1.
Although Thailand’s financial system growth rate is high compared to other countries and is considered one of the South East Asia financial centers, some of its financial markets are not yet well developed. Some commentators have highlighted that the lack of government securities and regulations undermines the efficiency of the financial market (Masuyama et al. 1999). Apart from an inter-bank market, which may be considered a mature market, many financial areas are still developing. The level of money market rates could impact investment in the stock market where investors will have more choices among stock market returns and money market instruments.

## 金融代写|金融实证分析方法代写Financial Empirical代考|Foreign Exchange Market

Ho (1991) states that the existence of a well-developed foreign exchange market is a major element in the development of a country’s sound financial system. An efficient foreign exchange market would attract foreign banks to engage in exchange transactions and at the same time strengthen the link between domestic and foreign financial markets.

The foreign exchange market in Thailand grew significantly after the liberalisation of foreign exchange controls and the setting up of the Bangkok International Banking Facilities (BIBFs) in the early 1990s. Most of the transactions are now under the structure of Thai baht per US dollar that takes place in the inter bank market and exchange rate can be calculated from the spot transactions and forward exchange contract. At present, the process of a spot transaction usually takes place instantly by either a direct telephone contact or indirectly through the Reuters dealing system, where the confirmations are printed out instantly and automatically (EMEAP 2002). A forward exchange contract is a transaction in which a specified quantity of a stated foreign currency is bought or sold at the rate of exchange fixed at the time of making the contract, and to be delivered at a future time agreed upon while making the contract (Ho 1991). Figure $2.2$ shows the average exchange rate during 1992-2001. The Thai government announced the devaluation of the Thai baht in July $1997 .$

According to CSES (1998), devaluation of the Thai currency had an immediate contractionary impact on the domestic demand in Thailand as it exacerbated the external debt burden of banks and other financial institutions, and aggravated the debt burden of many companies, which led to a reduction in their investment spending.

## 金融代写|金融实证分析方法代写Financial Empirical代考|Money and Capital Markets

$$m r_t=\left(\frac{d_t}{1-\left(d_t / 365\right)}\right)\left(\frac{365}{M}\right)$$

## 金融代写|金融实证分析方法代写Financial Empirical代考|Foreign Exchange Market

Ho (1991) 指出，一个发达的外汇市场的存在是一个国家健全的金融体系发展的主要因表。一个高效的外汇市场将吸引外国银行从 事外汇交易，同时加强国内外金融市场之间的联系。
1990 年代初期，随着外汇管制的自由化和曼谷国际银行设施（BIBFS) 的设立，泰国的外汇市场显着增长。现在大部分交易都是 在银行间市场进行的㤗铢兑美元的结构下，汇率可以从即期交易和远期外汇合约中计算出来。目前，现货交易过程通常通过直接电 话联系或间接通过路透社交易系统即时进行，确认信息会立即自动打印出来（EMEAP 2002）。远期外汇合约是指以订立合约时的 固定汇率买买指定数量的规定外币的交易，并在订立合同时商定的末来时间交付（Ho 1991）。数字 $2.2$ 显示了 1992-2001 年期间 的平均汇率。泰国政府7月宣布泰铢贬值 $1997 .$

## MATLAB代写

MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中，其中问题和解决方案以熟悉的数学符号表示。典型用途包括：数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发，包括图形用户界面构建MATLAB 是一个交互式系统，其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题，尤其是那些具有矩阵和向量公式的问题，而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问，这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展，得到了许多用户的投入。在大学环境中，它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域，MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要，工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数（M 文件）的综合集合，可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。