股票市场管制政策之探讨——兼论台湾与中国大陆股市发展政策

Research on the controlling policy of stock market——Also the development policy of the stock market in Taiwan and China

台湾现行的股票市场,系在政府规划下,于1962年成立,故在法规及市场制度方面,深受主管机关主导,属于高度管制的股票市场。综观世界各国,对于证券市场均有相当之管制,然而经济学者对于管制之范围仍有诸多争论。本文旨在探讨市场管制的理论以分析市场管制之起因,进而探讨市场管制政策应考量的重点方向并分析管制政策在效能上的限制,最后针对台湾及大陆之股市管理政策提出重点式的建议。

Under the government planning, the current Taiwan stock market was set up in 1962. It is a highly鈥攃ontrolled stock market which is heavily gulded by its responsible lnstitutions in law and market regulations. Make a comp ehensive survey of every nation in the world, one will no tice that each nation has its own way of controlling the security markets. Still arguments arise a mong the economists as to the range of the controlling. this article first intends to probe into the theory of the market controlling in order to analyze its cause. It then further inquires into impor tant matters of the market controlling policy and its limitation in efficiency. Finally suggestions are given to management policy of the bond markets both in Taiwam and in China's Mainland.