本文關(guān)鍵詞： 交易所 證券市場(chǎng) 有價(jià)證券 經(jīng)濟(jì)發(fā)展　出處：《吉林大學(xué)》2016年博士論文　論文類(lèi)型：學(xué)位論文

【摘要】：1861—1914年是俄國(guó)證券市場(chǎng)最重要的發(fā)展階段。這一時(shí)期,俄國(guó)歷經(jīng)變革、戰(zhàn)爭(zhēng)以及現(xiàn)代化進(jìn)程,社會(huì)與經(jīng)濟(jì)生活發(fā)生了重大改變。1861年,俄國(guó)面臨戰(zhàn)后經(jīng)濟(jì)危機(jī),主權(quán)信用貨幣盧布貶值,匯率動(dòng)蕩、通貨膨脹嚴(yán)重,國(guó)家內(nèi)、外債高筑,財(cái)政收支嚴(yán)重失衡,俄國(guó)在國(guó)際資本市場(chǎng)主權(quán)信用受到空前挑戰(zhàn),此時(shí)的財(cái)政收支問(wèn)題已不能簡(jiǎn)單地采用貨幣手段加以解決。俄國(guó)統(tǒng)治階級(jí)認(rèn)為實(shí)現(xiàn)國(guó)家工業(yè)現(xiàn)代化發(fā)展是解決俄國(guó)目前和未來(lái)一切經(jīng)濟(jì)政治問(wèn)題的辦法。隨著大改革以及資本主義生產(chǎn)關(guān)系的確立,大規(guī)模的工業(yè)和鐵路建設(shè)使俄國(guó)經(jīng)濟(jì)發(fā)展獲得新的增長(zhǎng)點(diǎn)。大改革后的俄國(guó)企業(yè)盛行股份制,發(fā)展和擴(kuò)大生產(chǎn)需要大筆后續(xù)資金投入,證券交易所充分發(fā)揮職能作用,切實(shí)服務(wù)本國(guó)實(shí)體經(jīng)濟(jì)發(fā)展,成為重要的融資工具。圣彼得堡證券交易所日漸成長(zhǎng)為世界最大的證券交易所之一,以其為代表的俄國(guó)證券市場(chǎng),伴隨著穩(wěn)定、危機(jī)與繁榮的交替,從初級(jí)市場(chǎng)到高級(jí)市場(chǎng),最終實(shí)現(xiàn)了螺旋式發(fā)展和飛躍。俄國(guó)政府首先利用稅收政策阻止外國(guó)工業(yè)產(chǎn)品進(jìn)入本國(guó)市場(chǎng)競(jìng)爭(zhēng),然后利用財(cái)政支出釋放國(guó)家訂單,利用國(guó)家信用擔(dān)保國(guó)外投入資本收益,引進(jìn)國(guó)外先進(jìn)技術(shù)帶動(dòng)產(chǎn)業(yè)技術(shù)升級(jí),拉動(dòng)生產(chǎn)建設(shè)需求,推動(dòng)國(guó)家經(jīng)濟(jì)建設(shè)。俄國(guó)經(jīng)濟(jì)建設(shè)資金主要來(lái)自財(cái)政支出投入資金、國(guó)外資本直接投入、以及外資對(duì)俄國(guó)證券資產(chǎn)的投入,資金主要流入俄國(guó)的工礦企業(yè)、民生產(chǎn)業(yè)、銀行信貸等,幾乎包含所有重要工商產(chǎn)業(yè)、行業(yè)部門(mén)。俄國(guó)政府一方面利用國(guó)家工商業(yè)政策營(yíng)造資本投資收益的政策環(huán)境,另一方面擔(dān)保清償股票與債券,大為降低資本收益風(fēng)險(xiǎn)。因此,俄國(guó)的企業(yè)股權(quán)和債權(quán)資產(chǎn)在國(guó)內(nèi)、國(guó)外證券市場(chǎng)上受到投資人的熱捧,本幣和外幣匯兌交流日益頻繁,盧布的市場(chǎng)信用得到提振。俄國(guó)證券交易所和證券市場(chǎng)不僅僅是國(guó)家財(cái)政融資的工具,更是傳遞資產(chǎn)價(jià)格信息的平臺(tái),也是穩(wěn)定盧布匯率,維護(hù)主權(quán)信用的利器。當(dāng)然在資本技術(shù)時(shí)代,金銀不再是財(cái)富的唯一符號(hào),而貨幣的價(jià)格是資產(chǎn)收益的體現(xiàn)。
[Abstract]:1861 1914 is the most important Russian securities market development stage. During this period, Russia experienced changes, war and the process of modernization, social and economic life has undergone major changes in.1861, Russia is facing post-war economic crisis, sovereign credit currency devaluation of the ruble exchange rate, volatility, inflation, national debt, serious. The imbalance of fiscal balance, Russia is an unprecedented challenge in the international capital market sovereign credit, fiscal problems at this time has not resolved simply by monetary means. The Russian ruling class to realize the industrial modernization of the country development is to solve the present and future all Russian economic and political problems. With the reform and the establishment of capitalist relations of production, large-scale industrial and railway construction of the Russian economic development a new growth point. After the reform of joint-stock enterprises in Russia, development And expand the sum of follow-up funding needs of production, stock exchange, give full play to their functions, and effectively serve the national economic development, has become an important means of financing. The St Petersburg stock exchange has been recognized as one of the world's largest stock exchange, which is the representative of the Russian stock market, with a stable, alternating crisis and prosperity, from the primary market to the senior market, finally realized the spiral development and leap forward. The Russian government first use of tax policy to prevent foreign industrial products to enter the domestic market competition, and then use the release of national fiscal expenditure order, the use of national credit guarantee foreign invested capital gains, the introduction of foreign advanced technology to promote the upgrading of industrial technology, boosting production and construction demand, promote the economic development of the country. Russian economic construction funds mainly from the financial expenditure of investment funds, foreign direct investment and capital. Foreign investment in the Russian securities assets, livelihood industry funds flowing into the main Russian industrial and mining enterprises, bank credit, etc., almost all the important industrial and commercial sectors, the Russian government policy environment. On one hand the use of national industrial policy to create capital investment income, on the other hand, guarantee repayment of stocks and bonds, to reduce capital gains risk. Therefore, the Russian corporate equity and debt assets in the domestic and foreign stock market being favorable for investors, currency and foreign currency exchange exchanges have become increasingly frequent, the ruble market credit have been sluggish. The Russian stock exchange and the securities market is not only the national fiscal financing tool, it is the transmission of asset price information platform, but also the stability of the ruble exchange rate, weapon maintenance of sovereign credit. Of course in the capital and technology era, gold is no longer the only symbol of wealth, and the currency is the price of the asset The embodiment of income.

【學(xué)位授予單位】：吉林大學(xué)
【學(xué)位級(jí)別】：博士
【學(xué)位授予年份】：2016
【分類(lèi)號(hào)】：F832.51;K512.4

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