摘要
以2000-2006年的季度数据为样本,对中国股市财富效应进行理论研究和实证分析。研究结果表明,中国股市存在微弱财富效应。股市财富效应对总消费影响较小的原因在于:股票市场的深度和广度有限;政府行政干预过多;股票市场法制建设滞后等。因此,应采取措施提高股票市场的深度和广度,改善股市发展的基础。
Based on the quarter data of 2000 to 2006, a theoretical and empirical analysis is made on the wealth effect of China stock market. The research results suggest that there is a little wealth effect in Chinag stock market. The reason for rather small impact of stock market wealth effect on general consumption lies in the limited depth and breadth of stock market, too much governmental intervention, lagged behind legislation of stock market, etc. There- fore, measures should be taken to increase the depth and breadth of stock market, to improve the foundation for the development of stock market.
出处
《河南金融管理干部学院学报》
2007年第6期72-76,共5页
Journal of Henan College of Financial Management Cadres
关键词
财富效应
股票市场
边际消费倾向
收入预期
weahh effect
stock market
marginal consumption tendency
revenue anticipation
