On the Application of Shibor Pricing Theory Model
针对上海银行间同业拆放利率（Shibor）缺乏理论模型和实践指导的问题，提出一个可行的定价模型并通过实证数据检验，对商业银行报价和利率市场化改革有参考价值。
Shanghai Inter-bank Offered Rate(Shibor),which is called as theLiborin China,has significance for the marker-based interest rate reform in China.It has obvious achievements since the Shibor introduced in the two years.However,as the absence of theoretical model and the practice guidance,it is difficult for commercial banks to quote the price.Therefore,the fairness and applications of the Shibor are greatly restricted. Finally,the authors propose a practicable pricing model of Shibor through mathematical method and test the model by empirical data.