中国股市对经济增长作用的实证检验

关于金融体系和经济增长之间关系的争论由来已久。本文在分析国外关于这一争论的研究成果的基础上,对中国的股票市场发展与经济增长之间的关系做了一系列实证检验,考察了金融体系的一个组成部分———股票市场与经济增长的关系。检验结果说明,中国股市发展与经济增长之间的相关性不高,回归结果也不能说明中国股市发展会推动经济增长。

Authentic Proof of the Function of China's Stock Market to Economic Increase

It had been a long time to argue about the relationship between financial system and economy increase.Based on the analysis of research result from this argument overseas,the author made a series of authentic proof on the relationship between China's stock market development and Chinese economic increase,while the relationship between them was reviewed as a component part of the Chinese financial system.The proof result demonstrated that there was no close relations between China's stock market development and its economic increase,and the regression analysis result could not demonstrate that China' stock market would prompt its economic increase.