中国资本市场一体化测度与利益评估.pdfVIP

革掌幡晴管帽 2012年05 月 May ,2012 (第 26 卷第05期) East China Economic Management (VoI.26 , No.05) 【 DOI1I0.3969/j.四川∞7-5097.2012.05.016 ·财经透视 中国资本市场一体化测度与利益评估 赵慧卿1.2 (1.天津财经大学统计系，天津 3∞222; 2.天津商业大学 经济学院，天津 3∞134) [摘要]中国经济发展转型道路上，资本市场一体化的重要性日益凸显。但我国资本市场分割问题仍较为严重，对国民经 济持续健康发展构成严重制约。文章通过比较资本生产率和资本边际产出的地区差异与产业差异，对我国资本市场一体 化程度及其变化趋势进行坝1 度，并基于政策模拟方法坪估资本市场一体化的潜在利益，最后给出若干结静与建议。 [关键词]资本市场一体化;资本生产率;资本边际产出;极化指敬;政策模拟 [中图分类号] F124 [文献标志码] A [文章编号] 1∞7-5097 (2012) 05一∞73-05 Measurement and Benefits Evaluation on Chinese Capital Market Integration ,2 ZHAO Hui-qing . (1. Department 01Stω， ist白， Tianjin University 01Finaru:e and Economics , Tianjin 3ω222 ， China; 2. Sc.加ol(扩Econom血， Tia，引iin University 01 Commerce , Tianjin 3ω134 ， China) Abstract: As Chinese economic development transfonni吨，由e importance of capital markets in钮回tion has b衍。me incre幽­ ingly prominent. 8ut Chinese capital market 8egmentation still being seriOU8 , it po8eS a serious constraint to sustained and healthy development of national economy. 8y comparing the regional and indu8try differences in capital productivity and its mar- ginal product , this paper tries to me阳山哩 the degree and trend8 of Chine回capital market integration. 8ased on the policy simu- lations ，由e paper tries to evaluate the potential benefits of capital market integration. Finally ，曲me conclusionø and policy proposals are put forward. Key words: integration of capital market; capital productivity; marginal product of capital ;polarization index; policy simulation 地金融机构的控制，