我国证券市场发展中的金融深化

【作者】 李卓；

【导师】 戴晓凤；

【作者基本信息】 湖南大学 ， 金融学， 2002， 硕士

【摘要】 本文研究的主要问题是证券市场是如何促进金融深化及怎样发展我国的证券市场以促进金融深化。为此，本文安排四个部分来进行分析。 第一章论述证券市场发展在金融深化中的地位。笔者首先对金融深化理论进行一般性阐述，进而提出不同学者对发展中国家发展证券市场的不同看法，分析了我国随着经济体制改革和国企改革的进行，发展证券市场的必要性。最后通过理论分析和实证检验，认为我国发展证券市场能够促进金融深化，进而，推动经济增长，论证发展证券市场在我国金融深化中具有重要地位。 第二章论述了证券市场对金融深化作用的途径。本文分别从证券市场有利于推进利率市场化、证券市场的发展与金融中介存在着互补关系、证券市场能推动金融创新的发展、证券市场有利于引进外资等方面，论述证券市场的发展如何解除金融压制、使金融资产总量增长、品种多样化、结构合理，因而进一步论证了证券市场发展推动了金融深化。 第三章从实证的角度分析了我国金融深化总体推进的同时，金融资产结构却严重偏畸，证券市场发展滞后，说明证券市场是今后我国金融深化的关键所在。 第四章分析了我国证券市场发展面临的窘境。一方面需要大力扩容，另一方面诸多缺陷又制约了证券市场的进一步发展。因而，提出我国证券市场应在发展中规范和在规范中发展的观点，并分析了我国证券市场存在的缺陷和进一步发展的对策。更多还原

【Abstract】 The main subject of the text is about that how securities market promote finance deepening and how we should develop securities market of our country to promote finance deepening, for this reason ,1 arrange four parts to analyses the problem in the text.Chapter one describes the position of the development of securities market in the processes of finance deepening. First, I carry on general exposition to the theory of finance deepening, and then propose that different scholars have different views about developing country developing securities market, and analyse the necessity of the development of the securities market with the going on of economic system reform and stated-owned enterprise reform in our country. At last after the theoretical analysis and the real example, I draw a conclusion that the development of securities markets of our country can promote the finance deepening and then drive the economic growth. I thus prove that the development of securities market has important status in our country’s finance deepening.Chapter two expounds the way of the securities market promoting finance deepening. The text describe that how the development of securities market dissolve finance constrictions, make the total amount of the financial asset increase the variety of financial asset numerous and make the structure of financial asset rational through proving that securities market helps to promote the development of the marketization of interest rate securities market has complementary relation with financial intermediary the securities market helps to promote the development of financial innovation and helps to import foreign capital. Therefore, the chapter further prove that development of securities market can drive finance deepening.From the angle of the real example, chapter three analyses that though the pace of the finance deepening is moving forward overally, the structure of financial asset is lopsided and the securities market is serous lagged. Thus I think that developing securities market is the key in order to promote finance deepening in the future .Chapter four analyses the awkward situation faced in the development of securities market of our country. On one hand securities market need to be expanded and held energetically. On the other hand a great deal of defects have restricted the further development of the securities market again. Therefore, the text proposes that the securities market of our country should be regulated while developing and should develop while being regulated. At the same time, the text has analysed the defect that the securities market of our country exists and the countermeasure that we further develop securities market.更多还原