我国证券市场效率研究

证券市场的效率是证券市场成熟与否的重要标志。证券市场效率的高低反映了证券市场优化资源配置功能的实现程度，证券市场的发展只有与实体经济发展充分结合起来，才能真正发挥对国民经济的促进功能。衡量和评价证券市场效率的核心标准就是看证券市场是否在优化资源配置方面发挥了积极有效的作用。中国证券市场不缺钱．缺的是合理的制度和机制。

Study on China's Securities Market Efficiency

Securites market efficientcy is an important signal for judging whether mature or not a securities market is. A high or low efficiency of securities market reflects the extent to which the function of secuirties market to optimize resource allocation is to be realized. Only combining the development of practical entity economy can the development of securities market play an accelerating role in national economy. The critical standard for estimating and evaluating securites market efficientcy is to see whether securities market has played an active and effective role in optimizing resource allocation. There is not lack of money in China＇s securities market, but rational system and mechanism.