本轮股市泡沫产生西西破裂.docVIP

本轮股市泡沫产生及其破裂 李瑞红 （华南农业大学 经济管理学院，广州 510642） 摘要：中国沪深股市的投资者对财富有着迫切的需求，行为具有“大傻瓜效应”“羊群行为”“小数定理”等非理性特征，外加股市机制上的缺陷、信息不对称、巨额资金的涌入等造就了本轮牛市的巨大泡沫。世界金融危机，中国实体经济的恶化，投资者美好预期的破灭，导致了股市泡沫的破裂。在本文最后提出了一些防范和消减股市泡沫的The formation and rupture of Chinese stock market bubble Abstract: There are several reasons why the stock market bubble took place in recent years: First , investor’s pressing needs of wealth and irrational behavior; Second, deficiencies in the system of the stock market;Third, information asymmetry ; Fourth, a huge influx of money etc.On the contrary, World’s financial crisis , deterioration in China’