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The Relationship Between China 's Securities Market And The Actual Operation Of Macroeconomics

Posted on:2011-04-16Degree:MasterType:Thesis
Country:ChinaCandidate:A L ZhangFull Text:PDF
GTID:2279330434473299Subject:World economy
Abstract/Summary:PDF Full Text Request
The relationship between real economy and virtual economy has formed a new pattern of modern economic system. Especially, the relationship between the stock market and macroeconomic has become an important research topic.Chinese securities market has achieved huge success since Shanghai and Shenzhen Stock Exchange were established in1991. Meanwhile, the phenomenon of the stock market deviates from the economic cycles and the stock market bubble has been concerned by many scholars in China. Although scholars have tried to use a variety of methods to analysis of these phenomenons, its findings have been divided.In mature markets abroad, the stock market cycles and economic cycles have shown an obvious correlation. However, this relationship has been deviated for a long time in China. Chinese stock market does not play a ’barometer’ feature. Additionally, the stock market bubble has been accompanied by controversy over Chinese stock market developing.This systematic study is based on the practical experience of Chinese stock market since1990and the Shanghai Composite Index to investigate the phenomenon of the stock market deviates from the macroeconomic cycles.This article has been divided into three parts:the first part is a literature review. Base on the economic cycle theory, the real economy and the virtual economic theory. The second part through analyzing the Shanghai Composite Index and the macroeconomic indicators, I found the phenomenon of the stock market deviates from the macroeconomic cycles has become a serious concern. Another hand, the current status of the stock market bubble has been reduced and moving to a positive direction. The third part is to in-depth analyzed these reasons and discuss the ways to improve the situation.
Keywords/Search Tags:stock market cycles, economic cycles, deviate, stock market bubble
PDF Full Text Request
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