股票市场对技术进步和经济增长的影响分析.pdfVIP

2004 9 ( ) Sep. 2004 24 3 (69 ) Journal of Xian Jiaotong University(Social Sciences) Vol.24(Sum o.69) , , ( , 710049) [ ] 运用跨时期固定替代弹性效用函数分析了股票市场的流动性对风险管理先进 术选择和 术进步的影响, 并运用格兰杰因果检验方法,考察中国股票市场与 术进步和经济增长的关系;认为中国股票市场的流动性是经济增长 的真实原因, 强调现阶段应注重提高中国股票市场的流动性, 发挥股票市场在 术进步和经济增长中的作用 [ ] 股票市场; 流动性; 风险管理; 术进步; 经济增长 [ ] F830.91 [ ] A [] 1008245X(2004 The Influence of Stock Market on Technology Progress and Economic Growth CHE Jun, WA G Ya- jie, CHE Jin- xian (School of Management, Xian Jiaotong University, Xian 710049,China) Abstract The vital role of stock market in technology progress is analyzed. And the constant inter- temporal elas ticity substitution (CIES) utility function is employed to examine the influences of stockmarket fluidity on risk man agement, advanced technique adoption and technology progress. The Granger- causality test is utilized to investi gate the relationships of the stock market with the Technology progress, and the economic growth in China. It is pointed out that the fluidity of Chinese stock market is the primary reason of the economic growth. and the role of stock market in technology progress and economicgrowth ought to be emphasized nowadays in China. Key words Stock market; Fluidity; Risk management; Technology progress; Economicgrowth [1] , ,[ 2~ 3] , , , , ? , , ,, ,