The Research On The Evolution Of Specialized Market Based On Hypercycle Theory

Specialized market is quite a distinctive institutional innovation in the process of national marketization. With constant development over the past 30 years since China's Reform and Opening-up, it has stepped into the stage of revolution and promotion. Therefore it will significantly influence the further development of specialized market if the mechanism of its internal evolution can be revealed. This paper, for the first time, analyzes the hypercycle theory of specialized market, based on which its evolving mechanism is studied. The study provides, on the one hand, new theoretic perspectives for the study of the development of specialized market, and expands the current system info of specialized market to a certain extent on the other.In the theoretic study part, the paper puts its cut-in at hypercycle theory of system science. Combined with relevant theories, such as territorial economics and western economics, the systemizing analysis on the evolution of specialized market has been conducted. In the empirical study part, small-scaled markets in China are exemplified. The argumentation is validated through researches on the spot and demonstration analysis on evolution mechanism of specialized market.First, this paper analyzes the hypercycle structure of specialized market:business activities of market players constitute a series of reaction cycles; such as the formation of capital accumulation in the course of activities link each of the reaction cycle as a catalyst, to form a catalytic cycle of the specialized market; trading system, management system and service system through the catalytic cycle to achieve the functional coupling, constitutes a hypercycle structure of the specialized market. The very nature of specialized market evolution lies in the adaptation to the outside world and the needs on self-development through promoting its competitive power. The outer and inner influencing factors of evolving specialized market are put forward on it. With the function of those influencing factors, subsystems achieve their self-evolution through catalyzing cycle by the catalyst. While based on the evolution of three subsystems, specialized market fulfils co-evolution under the coupling self-stabilizing mechanism of subsystems and the self-optimizing mechanism of'artificial selection'and'natural selection'. And the self-stabilizing mechanism assures specialized market of the frame foundation of evolution, the self-optimizing mechanism makes specialized market through the hypercycle of evolution to a higher level.Second, from the view of system, the precondition, motivity and methods for evolution of specialized market are illustrated. The preconditions are open system, effective positive and negative feedback and self-replication and variability. The motivity of evolution is the mutual competitive and cooperative function of inner factors in the market, and the evolution achieved through gradual evolution and sudden change. Meanwhile the model of hypercycle evolution of specialized market is constructed. The model points out that the evolution of specialized market is a dynamic spiraling process, it's based on the subsystems'harmonious evolution, and through the "artificial selection", implement the program and the "natural selection" to achieve the cycle of evolution. Thus, the whole evolving process of specialized market is directly learned.Third, exemplified with small-scaled markets in China, the systems and subsystems are respectively demonstrated, which further validates the main point of this paper and the rationality of model evolution.Last, conclusion and expectation. On the basis of basic conclusion, the expectations on shortcomings are put forward.