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一国股票市场对国际市场的敏感性是指该国市场对国际市场变动的反应程度。通常采用敏感系数作为敏感性分析的量化指标,该系数与贸易自由化和金融管制的程度密切相关。20世纪90年代以来,我国经济与外部经济的联系日益紧密,股票市场逐步开放,QFⅡ与QDⅡ匹配下的双“Q”制度的实施表明股票市场资金出入的双向通道在一定程度上已经打通,国内外市场的分割程度下降。美国次贷危机自2007年2月浮出水面之后逐步升级,引发全球股票市场下挫,国内市场也出现深幅调整。次贷危机引发
The sensitivity of a country’s stock market to the international market refers to the extent to which the country’s market responds to changes in the international market. Sensitivity is usually used as a quantitative indicator of sensitivity analysis, which is closely related to the degree of trade liberalization and financial regulation. Since 1990s, the connection between economy and external economy has been getting closer and closer, and the stock market has been gradually opened up. The implementation of the double Q system under the matching of QFII and QDII shows that the two-way channel for the capital market of stock market has opened up to some extent , The degree of segmentation in domestic and foreign markets declined. The subprime mortgage crisis in the United States escalated after it surfaced in February 2007, triggering a global stock market plunge and a deep readjustment in the domestic market. Subprime mortgage crisis triggered