System And Efficiency

All research on Chinese economic problems are actually discussing the improvement of efficiency, the efficiency has been the core topic of research made by Chinese and foreign economists from time immemoria, the definition and realization of efficiency are decided by related stipulation condition, behind which we can always find deep institution source. This is not only the result caused by the Chinese traditional planned economy institution, but also by the inherent influence of institution itself on efficiency.The standpoint that the institution decide efficiency that is put forward by Neo-institutional Economics brings a brand-new angle of view to efficiency problem research, and make the efficiency research more systematic and complete. However, its explanation on the correlation between the institution and the efficiency is ambiguity. It often converts the concept efficiency into economic performance, the economy growth etc., and also lay particular emphasis on the efficiency status of the institution itself while discussing the correlation between the institution and the efficiency. So, can it only be seen from the influence that are caused by institution change on indexes such as economic growth, that the institution decides efficiency? Whether efficiency has the adverse effect on the institution? And is this kind of adverse effect caused by the efficiency improvement of institution? With the impulse of trying to resolve these problems, comes out the original motivation of writing this thesis.The research on the correlation between institution and efficiency is a very wide-spread topic. If there is no limit range settled, the research work may seem to be scattered, and if we don't carry on certain demonstration research, we can't examine the accuracy and the practicability of the theories. Looking at our country's present finance market, it can be seen that the bond market developed earlier, and is relatively mature, and the market behavior is canonical, the corresponding availability and authenticity of data and material is better.