本文選題：金磚國家　切入點：股市波動　出處：《山東財經(jīng)大學(xué)》2014年碩士論文

【摘要】：股市波動與經(jīng)濟(jì)增長關(guān)系一直以來都是國內(nèi)外學(xué)者研究的重點內(nèi)容。研究金磚國家的股市波動和經(jīng)濟(jì)增長的關(guān)系意義重大，一方面我們可以通過研究金磚國家股市的波動和經(jīng)濟(jì)增長之間關(guān)系的研究，來觀察股市波動在國民經(jīng)濟(jì)增長中扮演的角色，或者國民經(jīng)濟(jì)的發(fā)展對股市波動的影響有多大；另一方面可以通過對股價波動規(guī)律的分析來管理股票市場，使其更好的為經(jīng)濟(jì)的可持續(xù)發(fā)展服務(wù)。更重要的是通過研究，金磚國家等新興市場可以采取有效措施來防止經(jīng)濟(jì)出現(xiàn)大起大落和股市的劇烈波動等一系列問題。 本文將重點運用實證方法對金磚國家股市波動與經(jīng)濟(jì)增長之間的關(guān)系進(jìn)行分析，堅持理論聯(lián)系實際原則，對股市波動與經(jīng)濟(jì)增長的關(guān)系進(jìn)行研究，并采用計量經(jīng)濟(jì)方法對股市波動與經(jīng)濟(jì)增長之間的關(guān)系進(jìn)行實證分析。 通過實證分析，我們得到以下結(jié)論：中國和俄羅斯股市波動與經(jīng)濟(jì)增長之間不存在長期均衡關(guān)系，印度、巴西、南非的股市波動與經(jīng)濟(jì)增長之間存在長期均衡關(guān)系。并且印度股市在偏離經(jīng)濟(jì)長期均衡時，，具有較強的動力從非均衡狀態(tài)回歸到均衡狀態(tài)。 文章共有五部分組成。開始在閱讀了大量文獻(xiàn)的基礎(chǔ)之上對文獻(xiàn)進(jìn)行總結(jié)歸納，了解學(xué)者的研究方法和得出的結(jié)論并在此基礎(chǔ)上確定自己的研究角度；然后對所研究方向的理論進(jìn)行了歸納總結(jié)，并以金磚國家股票市場為背景進(jìn)行了股市波動與經(jīng)濟(jì)增長理論的分析；接著用理論聯(lián)系實際的方法對五個國家的股市波動與經(jīng)濟(jì)增長之間的關(guān)系進(jìn)行實證檢驗，比較分析了金磚國家股市與經(jīng)濟(jì)存在或不存在均衡的原因；最后得出結(jié)論并提出了政策建議，使本文的研究意義落到實處。
[Abstract]:The relationship between stock market fluctuation and economic growth has always been the focus of scholars at home and abroad.It is of great significance to study the relationship between stock market volatility and economic growth in BRICS countries. On the one hand, we can study the relationship between stock market volatility and economic growth in BRICS countries.To observe the role of stock market fluctuations in the growth of the national economy, or how much impact the development of the national economy has on stock market fluctuations; on the other hand, we can manage the stock market by analyzing the law of stock price fluctuations.To better serve the sustainable development of the economy.More importantly, emerging markets such as the BRICS can take effective measures to prevent a host of problems, such as ups and downs, stock market volatility and so on.This paper focuses on the empirical analysis of the relationship between stock market volatility and economic growth in BRICS countries, adheres to the principle of integrating theory with practice, and studies the relationship between stock market volatility and economic growth.The relationship between stock market fluctuation and economic growth is analyzed empirically by econometric method.Through empirical analysis, we draw the following conclusions: there is no long-term equilibrium relationship between stock market volatility and economic growth in China and Russia, and there is a long-term equilibrium relationship between stock market volatility and economic growth in India, Brazil and South Africa.Moreover, the Indian stock market has a strong motive force to return from disequilibrium to equilibrium when deviating from the long-term equilibrium of economy.The article consists of five parts.After reading a large number of documents, the author summarizes the literature, understands the research methods and conclusions of the scholars, and determines his own research angle on the basis of this, then summarizes the theory of the research direction.Taking the BRICS stock market as the background, the paper analyzes the theory of stock market volatility and economic growth, and then makes an empirical test on the relationship between stock market volatility and economic growth in five countries with the method of integrating theory with practice.This paper makes a comparative analysis of the reasons for the existence or absence of equilibrium between the stock market and the economy of the BRICS countries, and finally draws a conclusion and puts forward some policy suggestions, which makes the significance of this study come true.
【學(xué)位授予單位】：山東財經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F831.51;F113

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