Main Macroeconomic Factors Analysis Of Our Stock Market Fluctuates

The fluctuation of securities'price has been studied since the opening of the securities market. Influenced by many kinds of factors, the price of securities often changes a lot.It is very easy to produce finance bubbles when the price of securities keeps rising especially rising suddenly and sharply. While the finance crisis may be triggered when the price of securities slumps,which often results in great loss for investors. In view of this aspect,the scholars abroad have recognized the problem mentioned above and have studied this problem for many years. Also the research methods are much more mature as the development of the western securities market. On the contrary, the securities market in China is still young and market is immature. So the price of securities often fluctuates very sharply, which has a very serious influences on the development of China'economy. Therefore, this paper studies some macro economy factors that will affect the price of the stock in China's stock market in order to understand the reasons why the development of the securities market is affected and reveals the factors that wil1 cause the changes of China's stock market. Furthermore, the ways of solution are put forward by the author, which are meaningful in the theory and practice because it will improve our skill in macro economy control and effectives of investment and keep the healthier development of securities market.Previous the study on the relationship between macro economy and the fluctuation of stock market is always from different angles. First, this paper describes the history of development in China's stock market and introduces the situation of China's stock market fluctuation. Second, analyzes the relationship between the economic growth and the fluctuation of the stock price, mainly do the descriptive positive analysis on the relationship between the business cycle and the stock cycle. Then analyzes the influences on the fluctuation of the stock price by monetary policies, mainly discusses the transmission mechanism from monetary policies to stock market, and analyzes the relevance of interest rate,exchange rate,quantity of money supply and the stock market fluctuates from theories and empirical research. In the end, studies the influences on securities market by fiscal policies, mainly analyses the relevance of revenue,tax policies and the fluctuation of stock market.Compared with preview study from all angles, this article systematic theoretical analysis and empirically studies the China's stock market from the economic growth,monetary policies and fiscal policies since 1991,and provide corresponding policies.