我国证券市场中的政府行为异化及其矫正

Government Behavior Variation and Correction in China′s Security Market

在中国经济转轨过程中,政府在推动证券市场的健康发展方面起着不可替代的作用。但政府过多和不当的干预使政府行为异化,有悖于其促进证券市场发展的初衷。在对转轨期中国证券市场中政府行为异化的主要表现和成因分析的基础上提出:建立和完善监管法律及法规,改革和完善证券市场信息披露和发行制度,加大对证券市场上违法和违规行为的处罚力度等是矫正中国证券市场中政府行为异化的基本对策。

The government plays an irreplaceable role in pushing the healthy development of the security market during China＇s economic transform period. The excessive and unsuitable intervention by the government, however, makes its behavior opposite to its original intention to promote the development of the security market. From the analysis of main manifestation and formation reasons of the government behavior variation in the security market in the economic transform period, this paper puts forward several basic counter-measures to correct the government behaviors in the security market by establishing and improving monitoring laws and regulations, reforming the information disclosing and releasing rules and strengthening the punishment power of law-breaking and rule-violating behaviors.