The Analysis Of The Government Supervision Of The Securities Market

Securities market is one of the important part of market economy, which derives from the development of market economy. As the weatherglass, the stability of the securities market can affect the whole country's economy. So many countries are focused on the securities market's supervision, and want to ensure the stability of the market. But it appears the new problem that the failures of the government supervision. Based on the analysis of the failure of the government supervision the author considers that the government securities supervision should be modest. At present, China is undergoing an economic transformation, the gradual establishment of the rule of law, the rapid expansion of the capital market , various forces trying to find the balance point. But the existing legal system of the securities supervision has serious deficiencies, so it's not fit to the further development of China's securities market. Therefore , the healthy , orderly and good development of the securities market demand establishing the appropriate legal system of the securities supervision and putting up the modest intervention. The text has four parts:The first part: The general theory of the securities supervision. This part mainly analyzed the general failures and the securities market'particularity to show that the market needs the government's supervision to overcome the market's failure. And through analyzed the theory of the incomplete law constitutes, the author pointed out that the securities supervision is the rational supervision field.The second part: The failure of the government supervision. At this part, the author analyzed the problem from the academic angle. Firstly, the supervisor is also the rational economic man, so it's difficult to ensure that they will not take their own advantages to the supervision. Secondly, the result of the government supervision is not confirmed, and the supervision can't overcome the market...