The Comparative Analysis Of The Macro-economic Factors On The Stock Price In China And The United States

Stock market is "barometers" of macroeconomic. In a market economy and financial markets in highly developed countries, there is a close relationship between state of the economy and the stock market, they interact and promote each other. On the one hand, investments are subject to the impact of the macroeconomic situation; on the other hand, the securities industry itself is also directly affected by macroeconomic factors. Country's macroeconomic policies, financial conditions, exchange rate adjustments will affect the stock price changes. Therefore, in the modern market economy, study on the impact of stock price index changes of macro-economic factors, is of great significance.Full-text is divided into five parts, the first part is an introduction, introduces the background of my choice item and significance of this article, and domestic and international research current situation, framework of the articles and main innovative points, etc; The second part is the theoretical review sections about the stock price the basic theory, the stock market mechanism and macro-economic impact theory; The third part is the difficult part, including variable selecting, data ordering and and empirical analysis. In this part, it compared and summarized the result of empirical analysis between the United States and China; The fourth part is the analysis immediately following the third part, carries on the comparative analysis from Chinese and the American economic policy and the Stock market, hoped that can carry on the further supplement and the explanation to the third part of empirical results; The last part, the first analysis problems of the China's stock market. and then learn from the experience of the United States on the development and improvement of China's stock market.The article has mainly used the contrast research technique, from a quantitative and qualitative differences in the angle of the start by comparing the research to analyze the impact of the United States and China's stock market in macro-economic factors, but previous studies focused on China's stock market research for single or direct reference to the foreign document comparison, no specific case on the U.S. stock market research. The article empirical and comparative study by the United States and China's macroeconomic variables on stock market prices, empirical results show that the Chinese market is a policy guide market and in the U.S. market is the market-driven market. And in contrast analysis, respectively, between monetary policy and the stock market developments and policies, and more find out the difference, and further confirmed and explained the empirical part of the results.