Financial Volatility Study

The lag of financial reform and economic reform is regarded as the "conundrums" of China's economy market-oriented order. How to weigh China's financial developments since the reform and opening up to the outside world? How to comprehend the relationship between financial development and economy growth? These questions are not only the great theoretical questions that China faces at present during social development, but also do the realistic problems need to be solved urgently.Though we still lack enough historical understanding in China's financial development at present, the acknowledgement of mutual affection and promotion between finance and economy, and the positive function of effective financial developments to the whole economy growth are approved basically.Take a wide view of various methods of studies, we can discover, because of holding philosophy preference in respect of economic theories or economic history, most macro study lay particular emphasis on how to make financial developments merge in the frame of economic growth and economic development.Though there are some precedents which regard financial development as a whole, most of others still wander in forefathers' framework. We do not deny this kind of research, however, economic growth, improvement of the per capita welfare have more practical meanings to us. Without doubt, with the development of the economy's opening gradually, and the form and aggravation of economic integration of the world, financial development has changed enormously. The innovation of financial tool, the complication of financial transactions, overlapping development of financial institutions, and the increase in financial market scale and the changes of financial policies all make our finance more independent of the development of the entity economy. Especially after the financial crisis, negative effects which imbalance brings to economic development and finance independence have obtained economic scholar's attention. Therefore, a research frame which makes financial system subordinated to economic development can not already meet the needs of development in the future financial systematic developments. The study of the reciprocity of finance and economy, and the regularity of financial system and how to treat such regularity correctly are increasingly important. As a part of economic system, the relationship between finance and economy is "complicated". To distinguish these changes is also difficult. But as a system, its different changes must have some external demonstration , moreover, such quantity and quality changes provide us an unique angle of view with which we can find the regularity of financial system movements ,analyze the relationship between fluctuation of the whole financial system and economic growth. The analysis concerned to finance fluctuation is launched as the following.First, the analysis perspectiveSetting out from the understanding of finance fluctuation, China's finance fluctuation is a course of the market strength, synthesizing function of government strength and other strength. It is a course where government withdraws and enters market constantly. Because there are enormous externalities and enormous revenues, strengths conflicting, going up and down, they determine the direction and degree of the financial fluctuation. It is different from existing traditional studies. The obvious difference lies in the method on the way and the mechanism of financial fluctuation where these different factors act on, especially the government's regulation compared with the market factor. It is shown as the fluctuation changes of financial total amount and financial structure during the financial evolution. So, this thesis is launch from these two respects mainly.Secondly, research perspectiveThe description and analyses of financial fluctuation should be launched from the perspective of great economy and monetary system transform. But the analysis of the total amount or the some problems,...