本文選題：股票市場　切入點：經(jīng)濟增長　出處：《南京理工大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

【摘要】：中國股票市場自成立以來,其表現(xiàn)一波三折。與此同時,中國經(jīng)濟卻依然按既定的目標(biāo)保持著高速增長。我國經(jīng)濟增長和股票市場發(fā)展之間是否存在相關(guān)性,它們之間具體的相互作用機制是什么,股票市場是如何促進經(jīng)濟增長的,經(jīng)濟增長又是如何推動中國股票市場發(fā)展的。對這些問題的研究有助于我們正確地制定相關(guān)的股市政策和宏觀經(jīng)濟政策,具有很強的現(xiàn)實意義。 本文首先查閱了國內(nèi)外學(xué)者對股票市場和經(jīng)濟增長關(guān)系的相關(guān)研究,并進行了綜述。接著,在分析股票市場的基本功能基礎(chǔ)上,對股票市場發(fā)展和經(jīng)濟增長的相互作用機制進行論述。然后參考萊文和澤爾沃斯(1998)提出的反映股票市場發(fā)展?fàn)顩r的指標(biāo)和研究方法,使用我國1994-2010年的季度數(shù)據(jù)進行格蘭杰因果檢驗和回歸分析,得到我國股票市場發(fā)展與經(jīng)濟增長關(guān)系的相關(guān)結(jié)論。 通過本文研究發(fā)現(xiàn)：基于所選指標(biāo)季度數(shù)據(jù)的一階差分的格蘭杰因果檢驗分析,我國經(jīng)濟增長明顯是股票市場發(fā)展的原因,但要滯后一個季度；而股票市場發(fā)展不是影響經(jīng)濟增長的原因。接著對股票市場各指標(biāo)進行回歸分析,我國股票市場規(guī)模指標(biāo)與經(jīng)濟增長之間存在相對明顯的正相關(guān)關(guān)系。股票市場流動性的指標(biāo)換手率與經(jīng)濟增長呈負相關(guān),且相關(guān)性很小。股票市場的交易價值與經(jīng)濟增長存在微弱的正相關(guān)關(guān)系。
[Abstract]:Since the establishment of the Chinese stock market, its performance has been in a series of twists and turns. At the same time, the Chinese economy is still growing at a high speed in accordance with the set goals. Is there a correlation between China's economic growth and the development of the stock market? What are their specific mechanisms of interaction, how the stock market promotes economic growth, The research on these problems is helpful for us to correctly formulate relevant stock market policies and macroeconomic policies, which is of great practical significance. In this paper, we first refer to the domestic and foreign scholars on the relationship between the stock market and economic growth, and make a summary. Then, based on the analysis of the basic functions of the stock market, This paper discusses the interaction mechanism between stock market development and economic growth, and then refers to the indicators and research methods proposed by Levin and Zell Voss to reflect the development of stock market. By using the quarterly data from 1994 to 2010 in China, the Granger causality test and regression analysis are carried out, and the relevant conclusions of the relationship between the development of the stock market and economic growth in China are obtained. Based on the Granger causality test analysis of the quarterly data of the selected indicators, the economic growth of our country is obviously the reason of the stock market development, but it must lag one quarter; The development of the stock market is not the reason for the economic growth. Then the regression analysis of the various indicators of the stock market is carried out. There is a relatively positive correlation between stock market scale index and economic growth, and the turnover rate of stock market liquidity is negatively correlated with economic growth. And the correlation is very small. There is a weak positive correlation between the trading value of the stock market and economic growth.
【學(xué)位授予單位】：南京理工大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F124.1;F832.51

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