Study on the Correlation between Stock Market and Macro Economy in China

被引：0

作者：

Li, Shengjun ^{[1
]}

Zhao, Xiumin ^{[1
]}

机构：

[1] XingTai Univ, Xingtai 54001, Peoples R China

来源：

PROCEEDINGS OF THE 2015 INTERNATIONAL CONFERENCE ON ECONOMICS, SOCIAL SCIENCE, ARTS, EDUCATION AND MANAGEMENT ENGINEERING | 2015年 / 38卷

关键词：

Stock market; Macroeconomics; Empirical test;

D O I：

暂无

中图分类号：

C [社会科学总论];

学科分类号：

03 ; 0303 ;

摘要：

In order to characterize the correlation between stock market and the macro-economy in China, the study used 20 years data from 1995 to 2014 to analyze, by means of Johansen cointegration method and Granger causality test to verify whether there is departure between China's stock market and economic growth. Test results show that: in general, China's stock market is positively correlated with the level of economic growth, but the stock market's function is still its most basic financing function in a market economy. Only by continuing to strengthen supervision on listed companies, improving the quality of listed companies, increasing market supervision and cracking down on illegal market discipline violations, can it make the stock market play its resource allocation function. With the continuous growth and system gradual improvement of China's stock market, it will play a more and more far-reaching effect in China's economic growth.

引用

页码：259 / 262

页数：4