文章摘要

中国股票市场在经济增长过程中的作用

The Chinese Stock Market and Its Role in Economic Growth

DOI：

英文关键词: Stock market Economic grow th Modified VAR Company perfo rmance

基金项目:

作者	单位
郝清民	天津大学管理学院技术经济学博士
赵国杰

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中文摘要:

针对国外资料多运用截面处理, 国内资料多侧重静态分析的问题, 文章从我国股市具体产生动因和作用机理入手, 采用修正VAR 模型, 从动态增量角度分析我国股市在经济增长过程中的作用。我国股市产生初衷是为国有企业筹资, 股市筹资对促进国企利润增长的作用有限;而国企利润并未明显导致股市筹资额增加。

英文摘要:

Using both the sectional processing , w hich is popular in overseas research , and static analy sis , w hich is popular in domestic studies , the paper studies the purpo se and functioning mechanism of Chinese stock market , analyzing , through modified VAR modeling , its role in economic g rowth from the dy namic incremental per spective .The initial objective of China' s stock mar ket is to raise funds to finance the SOEs, but its role in increasing SOEs' profits is quite limited, so does the pro fits of SOEs in increasing the fundraising size of the stock market.

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