资本市场对经济发展钿经济转型的影响研究

市场的本质是竞争，阻碍竞争的最大因素是垄断、门槛和不公平的限制。资本市场的产生为消除这种阻力，推动公平竞争提供了可能。研究表明：在经济发达国家，资本市场更能促进经济的发展和促进经济转型。资本市场在促进公平和加剧竞争的同时，会对既得利益集团形成冲击，促进经济发展，也会形成实力更强大的利益集团，进而遏制资本市场进一步发展。而金融开放则成为摆脱这个资本市场利益集团的突破点，只有当竞争跨越了国与国的边界，国内的既得利益者只有选择进行改革，增强企业自身的创新能力和生产效率投入到竞争的环境中，从而更好地推动资本市场发展。

The Influence of Capital Market to Economy Growth and Transformation

The nature of capital is competition, which is usually impeded by monopoly, threshold and unfairness. However, when a capital market comes into being, it might provide the possibility of fair competition by eliminating the hindrance. Researches prove that in a coun- try with a well - developed economy, the capital market help fuel the economic growth and transformation. When improving fairness and intensifying competition, the capital market will strike vested interest groups in a way that facilitates economic growth. But new interest groups with more strengths will arise, which in turn will restrain the development of the capital market. Under this backdrop, opening up the financial sector could be a breakthrough for the capital market to get rid of new interest groups. When competition goes beyond national boundaries, domestic vested interest groups have no option but to reform for enhanced innovative capability and high productivity to com- pete with their global counterparts. As a result, the capital market will be promoted.