摘要
中国持续稳定的经济增长和高储蓄率使得资本市场发展的初始条件本来远优于拉美各国,但是由于资本市场存在制度性根本缺陷,加之改革的犹豫及滞后,近年来我国大批优质公司纷纷到海外上市,这一点和拉美国家颇为相似。债券市场也出现拉美式的单一公债市场发展趋势。本文介绍了拉美资本市场发展中的教训及改革经验,并同中国资本市场发展状况作了比较研究,认为中国资本市场的持续不振使之有走向拉美化的危险。因此,有必要加强资本市场监管体制建设,完善投资者利益保护机制,加强公司治理,提升国内资本市场上市公司质量,增加国内资本市场的吸引力。
In spite of the initial conditions of sustained high growth of Chinese economy, which is much better than Latin-Americas, the poor capital market institution arrangement and the delayed reform has made it sliding toward Latin-Americanization. This article surveyed the capital market reform in Latin-Americas, looked into the condition of Chinese capital market, and pointed out the danger of Latin-Americanization ahead. Therefore, in order to increase the quality of listed companies and the attraction of domestic capital market, it's necessary to enforce the building of regulations and effective supervision, improve shareholders' rights and corporate governance.
出处
《国际金融研究》
CSSCI
北大核心
2005年第6期46-51,共6页
Studies of International Finance
