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从1990年12月9日和1990年12月1日,上海、深圳证券交易所分别营业以来,中国的股票市场经过近19年的发展,十多年来,中国的股票市场已经取得了历史性的突破和跨越式的发展。但是,与宏观经济指标相比较,我国股价指数呈现出与宏观经济相背离的轨迹。本文利用国内工业增加值IGP和上证综指、深证成指从1994年1月至2009年8月188个样本进行实证分析,试图对“我国的股市能否作为国民经济的‘晴雨表’?”这个问题作出回答并分析其中隐含的深层次原因。
Since the establishment of the stock exchanges in Shanghai and Shenzhen Stock Exchange on December 9, 1990 and December 1, 1990 respectively, the stock market in China has undergone nearly 19 years of development. For more than a decade, the stock market in China has made historic Breakthrough and leapfrog development. However, compared with the macroeconomic indicators, the stock price index in our country shows a departure from the macroeconomy. In this paper, IGP and SSE Composite Index, Shenzhen Stock Exchange Index from January 1994 to August 2009 188 samples for empirical analysis, trying to “China’s stock market as a barometer of the national economy ’ ? ”To answer this question and analyze the underlying causes underlying it.